How to Use This Estimator
Add one row for each type of worker (trade/classification) you employ. Enter how many employees of that type you have, their average hourly wage, and their average weekly hours. The tool calculates your estimated annual payroll for that group and multiplies it by the workers' comp rate for that class code — giving you an estimated annual premium by trade and overall.
The rates shown are the 2026 NCCI filed loss costs for Florida, loaded from our live database. Your actual premium will depend on the carrier's expense loading, your experience modification rate, and other factors — but this tool gives you a solid starting estimate. Use the experience mod estimator to factor in your EMR, then call us for an exact quote.
Payroll & Premium Estimator
2026 FL RatesEstimated Annual Premium Breakdown
| Trade / Class Code | Annual Payroll | Rate / $100 | Base Premium |
|---|
Understanding Your Payroll Calculation
Workers' comp premium is calculated on "payroll" as defined by NCCI — which is not quite the same as your total payroll cost. NCCI-defined payroll includes straight-time wages, salaries, and most bonuses. It excludes overtime premium (the extra half-time portion of overtime wages — only straight-time is included for OT hours), tips remitted to employees, and certain other items. For most contractors running standard hourly employees, the estimator above will be close to accurate. If you have a complex payroll with significant overtime or irregular bonuses, talk to us about getting a precise calculation.
The "per $100 of payroll" rate structure means that higher wages do not change your rate — they just apply the same rate to more payroll. A roofer making $25/hour and a roofer making $35/hour both pay the same rate per $100 of their respective wages. This is why payroll control matters: every dollar of payroll at a high-rate classification like roofing (code 5551) generates premium at that classification's rate. Correctly classifying employees — putting clerical workers under code 8810 rather than a field rate — is one of the most straightforward ways to reduce your premium.
PEO vs. Direct Policy — Estimated Savings
On a traditional direct policy, you pay a deposit upfront, carry your individual experience mod, and face a year-end audit. On a PEO pay-as-you-go program, premium is collected each payroll cycle on actual wages — no deposit, no audit, and group experience rating rather than your individual mod. For contractors with mods above 1.0, the PEO group rate often results in lower net annual cost even if the filed rate itself is similar.
A contractor with $500,000 in roofing payroll, a 1.25 mod, and a base rate of $20/100 would pay approximately $125,000 per year on a direct policy with the mod applied. On a PEO program with group rating at the same base rate, the mod surcharge is absent — the same contractor might pay approximately $100,000 per year, a $25,000 annual savings. Additionally, the $25,000–$30,000 deposit typically required on a direct policy stays in the contractor's account, generating cash flow value throughout the year.
Frequently Asked Questions — Payroll Estimator
Related Resources
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Estimator Tips
Separate crews by trade for accuracy
Add clerical staff under code 8810
Use actual (not estimated) hours
Enter your real EMR for accuracy
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