 
Health Insurance California >> Worker’sCompensation >> Workers Compensation Minimum premium Workers Compensation Minimum premium Basically, minimum insurance premium is a least amount for which the insurer is willing to insure an employer. Each insurer files its minimum premiums with the rating plan to CDI. For Example: An insurance company has set a minimum premium of $500 for
your type of business. Assuming your actual payroll is only $20,000 with
a manual rate of .78 per $100 of payroll; your calculated insurance premium
would be $156 ($200 X .78). But you would still pay $500 minimum insurance
premium instead of $156, since your insurance
company has set its minimum premium at that level. Thus you are encouraged
to shop around for the company with the lowest minimum insurance premium
if you have a small payroll.
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