How is workers' compensation premium calculated?

The base formula is payroll divided by 100, times the class-code rate, times the experience modification factor. The class rate is expressed in dollars per $100 of payroll, so a $1.50 rate on $250,000 of payroll is $3,750 before the experience mod and any schedule rating.

Does New Hampshire have a state workers' comp fund?

No. New Hampshire is a competitive-market state with no monopolistic state fund, so employers buy coverage from private insurance carriers. Rates are based on NCCI-style class codes, and the New Hampshire Insurance Department reviews the loss-cost filings carriers use.

What is the experience modification factor?

The experience mod, or x-mod, adjusts your premium for your own claims history relative to similar businesses. A factor of 1.00 is average; below 1.00 means a better-than-average loss record and a discount, while above 1.00 means worse losses and a surcharge.

What is schedule rating?

Schedule rating is a discretionary credit or debit a carrier applies for risk factors not captured by the experience mod, such as safety programs, management, or workplace conditions. Enter a positive percentage for a credit that lowers premium, or a negative value for a debit.

Is the result an exact quote?

No. It is the manual-premium estimate. A real New Hampshire quote also adds expense constants, a terrorism and catastrophe load, and a minimum premium, and multi-code employers must rate each class code separately. Use a licensed NH carrier or agent for a binding figure.

New Hampshire Workers' Compensation Premium Calculator

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A New Hampshire employer’s workers’ compensation premium follows the standard insurance formula built from a class-code rate, payroll, and an experience modification factor. New Hampshire is a competitive-market state — there is no monopolistic state fund, so coverage comes from private carriers. This tool estimates the manual premium and lets you apply schedule rating.

How it works

Premium scales with payroll measured in $100 units, adjusted for your loss history and any carrier credit:

manual premium  = (payroll / 100) × class base rate
after exp mod   = manual premium × experience mod
final premium   = after exp mod × (1 − schedule credit %/100)

The class rate is in dollars per $100 of payroll. The experience mod centers on 1.00 (average); schedule rating is the carrier’s discretionary credit or debit.

Example and notes

A clerical-heavy shop with $250,000 of payroll at a $1.50 class rate has a manual premium of (250,000 / 100) × 1.50 = $3,750. With an experience mod of 1.00 and no schedule credit, the estimated premium is $3,750; a 0.90 mod would cut it to $3,375. Real New Hampshire quotes add expense constants, a terrorism/catastrophe load, and a minimum premium, and each class code in a multi-trade business is rated separately. Confirm rates and mods with a licensed New Hampshire carrier or agent — this is a planning estimate only.