Business Insurance Calculator
This estimator produces quick, transparent premium estimates for common small-business insurance needs. It converts your inputs into a budget-grade annual premium using multiple methods so you can compare a revenue-based approach, a payroll/headcount approach, and a line-by-line policy breakdown.
Results are intended for budgeting and planning only. They are not binding quotes. Final rates depend on insurer underwriting, jurisdictional rules, claims history checks, and certified inspections.
Governance
Record b370a0cab525 • Reviewed by Fidamen Standards Committee
Quick budget estimate based on annual revenue adjusted for industry and location risk factors.
Inputs
Results
Estimated annual premium
$800.00
| Output | Value | Unit |
|---|---|---|
| Estimated annual premium | $800.00 | USD |
Visualization
Methodology
The tool uses simplified exposure-to-premium calculations that combine base loadings with industry and location multipliers to approximate insurer pricing. It is designed to show relative sensitivity to inputs (revenue, payroll, headcount, coverage limits, property values).
To promote transparency and auditability, each method returns component-level variables (for example: payroll component, headcount loading, coverage-limit loading). Assumptions and multipliers are conservative approximations, not proprietary underwriting algorithms.
Worked examples
Example 1: A professional services firm with $500,000 revenue in a low-risk location often sees a revenue-method estimate significantly lower than a construction firm with the same revenue because industry_risk is smaller.
Example 2: A small retail shop with moderate payroll and high property value will show a larger property premium component even if revenue-method estimate appears modest.
F.A.Q.
Is this a quote I can buy?
No. These are estimates for budgeting and comparison. A binding quote requires full application, underwriting review, and insurer-specific rate tables.
How accurate are the results?
Accuracy varies by industry and jurisdiction. Expect typical variance of plus or minus 30% for preliminary estimates. Use these results to prepare questions for brokers or carriers; obtain written quotes for procurement.
What assumptions should I check with my broker?
Confirm industry classification, payroll categorization, sales exposures, prior claims detail, and desired policy forms and endorsements. These materially affect final pricing and coverage.
How is claims history handled?
This estimator includes a simple claims-count input that increases conservatively via component loadings. Actual underwriting uses loss runs, severity analysis, and insurer-specific experience modifications.
What are the limits of this tool?
It does not model jurisdiction-specific statutory workers' compensation classifications, insurer-specific credits/surcharges, endorsements, or aggregate policy limits. Use it for budget planning only.
Sources & citations
- NIST Cybersecurity Framework (guidance on risk management practices) — https://www.nist.gov/cyberframework
- ISO 31000 — Risk management (principles and guidelines) — https://www.iso.org/iso-31000-risk-management.html
- OSHA — Occupational Safety and Health Administration (workplace safety standards) — https://www.osha.gov
- IEEE Standards Association (standards governance reference) — https://standards.ieee.org
- NAIC — National Association of Insurance Commissioners — https://content.naic.org/
- Insurance Information Institute — https://www.iii.org/
Further resources
Versioning & Change Control
Audit record (versions, QA runs, reviewer sign-off, and evidence).
Record ID: b370a0cab525What changed (latest)
v1.0.0 • 2025-11-15 • MINOR
Initial publication and governance baseline.
Why: Published with reviewed formulas, unit definitions, and UX controls.
Public QA status
PASS — golden 25 + edge 120
Last run: 2026-01-23 • Run: golden-edge-2026-01-23
Versioning & Change Control
Audit record (versions, QA runs, reviewer sign-off, and evidence).
What changed (latest)
v1.0.0 • 2025-11-15 • MINOR
Initial publication and governance baseline.
Why: Published with reviewed formulas, unit definitions, and UX controls.
Public QA status
PASS — golden 25 + edge 120
Last run: 2026-01-23 • Run: golden-edge-2026-01-23
Engine
v1.0.0
Data
Baseline (no external datasets)
Content
v1.0.0
UI
v1.0.0
Governance
Last updated: Nov 15, 2025
Reviewed by: Fidamen Standards Committee (Review board)
Credentials: Internal QA
Risk level: low
Reviewer profile (entity)
Fidamen Standards Committee
Review board
Internal QA
Entity ID: https://fidamen.com/reviewers/fidamen-standards-committee#person
Semantic versioning
- MAJOR: Calculation outputs can change for the same inputs (formula, rounding policy, assumptions).
- MINOR: New features or fields that do not change existing outputs for the same inputs.
- PATCH: Bug fixes, copy edits, or accessibility changes that do not change intended outputs except for previously incorrect cases.
Review protocol
- Verify formulas and unit definitions against primary standards or datasets.
- Run golden-case regression suite and edge-case suite.
- Record reviewer sign-off with credentials and scope.
- Document assumptions, limitations, and jurisdiction applicability.
Assumptions & limitations
- Uses exact unit definitions from the Fidamen conversion library.
- Internal calculations use double precision; display rounding follows the unit's configured decimal places.
- Not a substitute for calibrated instruments in regulated contexts.
- Jurisdiction-specific rules may require official guidance.
Change log
v1.0.0 • 2025-11-15 • MINOR
Initial publication and governance baseline.
Why: Published with reviewed formulas, unit definitions, and UX controls.
Areas: engine, content, ui • Reviewer: Fidamen Standards Committee • Entry ID: 4962ff490249