How Much Does Workers Comp Insurance For Contractors Cost?

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📞 Call or Text: 248-459-3045
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How much does workers comp insurance cost for contractors in Michigan? In this video, we’ll break down the key factors that impact your premium, including payroll, job classifications, safety programs, and audits.

🔹 Payroll is the #1 factor—workers’ comp is calculated as a percentage of your payroll.
🔹 High-risk trades like roofing pay more than lower-risk roles.
🔹 Your policy will be audited at the end of the year, based on actual payroll.
🔹 Pay-as-you-go options can help manage cash flow and avoid big audit bills.
🔹 Safety programs may qualify you for discounts.

💡 In Michigan, contractors typically pay 2%–10% of payroll for workers’ comp insurance. That means if your payroll is $100,000, costs usually fall between $2,000–$10,000 per year.

📞 Need help finding the right workers’ comp coverage for your contracting business in Michigan? Contact us today to review your options.

#WorkersComp #Contractors #MichiganInsurance #WorkersCompInsurance

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📞 Call or Text: 248-459-3045
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Timecodes
0:00 - Intro
1:11 - Payroll will be one of the biggest factors
1:44 - The type of work your business does will impact your rates
1:59 - Every type of work has a class code, which can have different rates from one insurance company to another
2:38 - The importance of the audit process
3:40 - Your claims history will also impact your premiums
3:48 - Brief overview of the experience mod and how it works
4:44 - Take advantage of available discounts
5:04 - An general range of what rates can be
5:43 - Summary & closing

**DISCLAIMER: THIS IS NOT LEGAL ADVICE. USE AT YOUR OWN DISCRETION. THIS VIDEO INCLUDES MICHIGAN INFORMATION ONLY.