Contractor Online Program

Mass: MA Contractors' Rates, Worksheet, Application, TRIA & MA Affidavit

Rhode Island: RI Contractors' Rates, Worksheet, Application, TRIA & RI Affidavit

Looking for a quick quote? Does the insured meet the following criteria?

1. Three years experience in the field of operation

2. Does not draw plans, design, or specifications

3. No losses over $5,000 in the last 3 years

4. Has not filed for bankruptcy in the last 7 years

5. Current operations does NOT involve cranes, rigging, blasting, fire suppression or

sprinkler systems, fire escapes, asbestos, natural gas mains, propane & tree removal

**If insured does NOT meet the above criteria, please submit to an underwriter

If YES for the above, let's start rating! (See the below instructions)

Print or open the worksheet for emailing

Print or open the appropriate contractors' rates (MA or RI)

Determine the payroll (Mass minimum payroll is $22,000, RI minimum payroll is $27,600 for each: individuals,

corporate officers, or partners)

Located the class – review the class term and conditions

Working across, find the rates for the desired limits (on the top of the grid)

Multiply the PremOps rates by the payroll, repeat with the prod rates- total these figure for a subtotal (subtotal

must equal or exceed the minimum premium. For minimum premium, see contractors' rates)

Add the appropriate tax, terrorism charge if applicable and add the inspection fee to the above subtotal for a grand total

Submit the worksheet either by fax or email to bind along with the signed application, terrorism and affidavit form

EXAMPLE:

Code	Description- Sample Rating Limits $1m/$2m	Exposure (per 1000)	Rate	Premium
97447	Masonry	22,000	(Prem)18.29	402
97447	Masonry	22,000	(Prod)10.258	226
			Sub total	$628.00
			Mass Tax 4%	$25.12
			Terrorism add $125 to Purchase	n/a
			Inspection fee	$125
	$250 Deductible, unless otherwise indicated on classification list		Total	778.12

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