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Sample Workers' Compensation Quote
Sample Retail Apparel
Store
Classification Code -
8008
Based on:
Estimated Payroll $500,000
Rate per $100 of Remuneration 1.51%
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Retail Council
Safety Group |
Industry
Average |
Premium |
$7,550.00 |
$7,550.00 |
Terrorism Risk Coverage |
$170.00 |
$170.00 |
Domestic Terrorism Risk |
$50.00 |
$50.00 |
Experience Modification |
0.95 |
0.95 |
Estimated Standard Premium |
$7,172.50 |
$7,172.50 |
Premium Discount: |
-20% $1,434.50 |
-10% $717.25 |
Subtotal: |
$5,958.00 |
$6,675.25 |
Expense Constant: |
$200.00 |
$200.00 |
Estimated Annual Premium |
$6,158.00 |
$6,875.25 |
NYS Assessment - 6.6%
for Members of Group 493, 15.5% for standard carriers |
$393.23 |
$1,034.66 |
Total Premium Before Dividend |
$6,551.23 |
$7,909.91 |
Dividend (10 year dividend average =44%)
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$2,709.52 |
$0.00 |
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Final Premium Cost |
$3,841.71 |
$7,909.91 |
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Savings over Industry Average
Payment of dues and Group Manager fees will apply
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$4,068.20 |
51.43% |
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