NY Contractor Insurance Cost Estimator
Estimate your annual insurance costs as a contractor operating in New York State, including General Liability, Workers' Compensation, and Commercial Auto coverage.
Formulas Used
General Liability Premium:
GL Premium = (Annual Revenue ÷ 1,000) × Trade Rate
Adjusted for limit surcharge (+20% for $2M/$4M) and claims modifier.
Minimum premium: $750.
Workers' Compensation Premium:
WC Base = (Annual Payroll ÷ 100) × Trade WC Rate
NY Surcharges = WC Base × 18.8% (NY assessments, NYSIF surcharges)
WC Total = WC Base + NY Surcharges
Minimum premium: $1,200.
Commercial Auto Premium:
Auto Total = Number of Vehicles × $2,200/vehicle/year
Claims Modifier:
0 claims: ×1.00 | 1 claim: ×1.10 | 2 claims: ×1.20 | 3+ claims: ×1.35
Applied to GL and WC premiums.
Total Annual Cost = GL Premium + WC Total + Auto Total