Contractor Insurance Cost Estimator
Estimate your annual contractor insurance costs including General Liability, Workers' Compensation, and Tools & Equipment coverage based on your trade, revenue, and workforce size.
Formulas Used
General Liability Premium
GL = (Revenue ÷ 1,000) × GL_Rate × Limit_Multiplier × State_Factor × Claims_Multiplier
Minimum floor: $500. GL rates per $1,000 revenue range from $0.55 (cleaning) to $2.50 (roofing).
Workers' Compensation Premium
WC = (Revenue × 0.35 ÷ 100) × WC_Rate × State_Factor × Claims_Multiplier
Estimated payroll = 35% of revenue. WC rates per $100 payroll range from $3.50 (cleaning) to $22.00 (roofing). Minimum: $300 × number of employees.
Tools & Equipment Premium
T&E = Tools_Value × 2.5%
Minimum: $150 when tools value > $0. Based on inland marine / tools floater annual rate.
Total Annual Cost
Total = GL + WC + T&E