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    8 Replies Latest reply on Apr 23, 2009 12:20 AM by cutcomp

    Workers Comp Insurance Questions (Calculating into Overhead, Finding It, etc.)

    cognitive77 Newbie
      If there's one business expense I absolutely hate, it has to be shopping for insurance. I personally believe that any insurance is a mandatory scam. You need it, sometimes use it, but get the shaft when you have to use it or are penalized when you have to use it. But I digress.

      I'm a newer contractor. We only work with Union Millwrights. I need workers comp and I'm assuming liability insurance for my crews. I've been told two different things. One, that the rate I pay for insurance is based off of payroll for that craft for the entire year, and Two, that it's based off of year end sales. Also, how exactly do I calculate insurance into my hourly rate that I bill for each worker? I'm looking for a base % I can apply to that rate. And lastly, can anyone here recommend a GOOD insurance contact?