Premium

Why it matters to you

Premium is the number everyone shops on, but it moves for reasons you can partly control: limits, deductibles, payroll, claims history. Two quotes with different premiums are often quoting different coverage — compare what's covered before what it costs.

Where you’ll see it

On the declarations page and every quote. Workers' comp premiums are typically billed on projected payroll, then trued up by an audit after the policy year.

Related terms

• Deductible
• Payroll basis
• Experience modification rate (e-mod)