All employers in NSW who have an apprentice, or who expect to pay annual wages to workers of over $7500, must have a workers insurance policy. Insurance and Care NSW (icare) provides a quote tool to help you estimate your workers compensation premium.
The estimator is not intended to provide estimates of premium calculations for employers who:
- employ contractors
- belong to a group for workers insurance purposes
- have estimated annual wages of $7500 or less
- work with asbestos
- are involved in coal mining.
What you need
- your business activity or your Workers Compensation Industry Classification (WIC)
- your total number of employees and annual wages.
If applicable, information on your:
- apprentices (total number and wages)
- contractors (total number, contract type and value, labour costs)
- workers exposed to asbestos (total number and wages, description of work).
How to get a quote
- Select the 'Get a quote' button.
- Select the 'Add business activity' button.
- Enter your business activity or WIC code.
- Enter your total number of employees and annual wages.
- Provide information on apprentices, contractors and workers exposed to asbestos (if applicable).
- Select the 'Get quick quote' button.
- Review your summary.
- Select the 'Take out a policy' button, if you wish to proceed with the quote.
- Details provided on contractors and/or workers exposed to asbestos will be included in your premium when you take out a policy.
- The estimator provides indicative figures only.
- The total premium paid depends on a number of factors including:
- your industry
- the amount of wages paid to your workers
- the costs of any claims made by your workers (experience-rated employers only)
- any incentives, discounts or premium adjustments
- the dust diseases levy.