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New Jersey Workers Comp Rates

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New Jersey Workers Comp Rates

New Jersey workers' compensation rates continue to increase in 2015.

New Jersey workers' comp rates currently rank, on average, as the 3rd highest in the country, according to a 2014 study. The state is up four spots compared to a similar study conducted in 2012. NJ rates are approximately 150% higher than the median rates in the country.

The NJ Department of Labor and Workforce Development indicates that 34,798 new workers compensation claims were filed doing 2014. A high number of claims coupled with higher medical costs and average employee wages are probable driving forces behind higher work comp rates for New Jersey employers.

New Jersey is not a true competitive rating state. All rates are determined each year by the NJ Division of Workers' Compensation. However, NJ law does allows insurance companies to offer policy credits and debits on a workers comp policy. Most New Jersey employers benefit from shopping their workers comp rates with multiple carriers to ensure they're getting the biggest discounts on coverage.

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NJ Rates for Select Work Comp Class Codes Workers Compensation Shop.com Icon.

All workers' compensation rates in New Jersey are set by NJCRIB and all insurance carriers are required to utilize these base manual rates for the purpose of pricing coverage. New Jersey law does allow insurance companies to utilize experience modifiers and offer premium credits and debits on workers comp coverage. We help find carriers that offer the best credits for your class codes.

Class Code

Low Rate High Rate

0042 Landscaping

$15.51 $15.51

5022 Masonry Work

$18.36 $18.36

5183 Plumbing

$7.97 $7.97

5190 Electrical Work

$5.91 $5.91

5191 Office Machine Install

$2.09 $2.09

5348 Tile Installation

$11.29 $11.29

5403 Commercial Carpentry

$20.33 $20.33

5437 Trim Carpentry

$11.66 $11.66

5474 Painting

$14.57 $14.57

5538 HVAC

$8.87 $8.87

5645 Carpentry

$20.33 $20.33

6400 Fencing

$18.09 $18.09

7380 Drivers, Chauffeurs, etc.

$13.75 $13.75

7605 Burglar Alarm Installation

$5.19 $5.19

7610 Radio or TV Broadcasting

$0.97 $0.97

8001 Florist

$5.68 $5.68

8013 Jewelry Store

$1.48 $1.48

8017 Retail Store

$3.97 $3.97

8018 Wholesale Store

$6.91 $6.91

8034 Grocery Store

$14.86 $14.86

8292 Storage Warehouse

$12.78 $12.78

8293 Furniture Storage Warehouse

$18.88 $18.88

8393 Auto Repair Shop

$4.31 $4.31

8803 Computer Programming

$0.28 $0.28

8810 Clerical-NOC

$0.28 $0.28

8832 Doctors, Physicians

$0.67 $0.67

8835 Home Health Care

$5.87 $5.87

8868 Schools-Professional ees

$1.69 $1.69

9014 Janitorial Cleaning

$6.77 $6.77

9052 Hotel

$4.85 $4.85

9053 Fitness Center

$2.41 $2.41

9079 Restaurant/Bar

$3.78 $3.79

9102 Lawn Service

$6.70 $6.70

9586 Beauty Salon

$1.30 $1.30

New Jersey workers comp rates can vary significantly by workers comp classification codes, each employers' experience modification factors, and underwriting credits and debits. Even though insurance rates are set by the state of New Jersey each calendar year, the cost of work comp coverage may vary between companies within the same industry. Shop your rates to find insurance companies who are willing to compete for your particular class codes and industry type.


New Jersey Scheduled Credits

Although New Jersey mandates all workers comp rates for insurance companies, they allow a Schedule Rating Plans for the purpose of adjusting a businesses premium in order to reflect specific risk characteristics of each company. This law is what allows insurance companies to effectively reduce the cost of your coverage below the mandated rates. Policies written via the New Jersey Workers Compensation Insurance Plan are not eligible for this policy credit. Our agency helps our customers find the policy credits.

New Jersey Cross Match Program

New Jersey is a strict state with regard to employers having the proper workers comp coverage in place. The state has a division called the Office of Special Compensation Funds which actively checks their database against the databases managed by the Insurance's Compensation Rating and Inspection Bureau (NJCRIB) in order to identify uninsured employers.

Uninsured employers are advised to obtain coverage immediately and provide verification of coverage back to the state. Any gaps in coverage will likely be found by the state and penalties will be assessed for the uninsured period of time. Providing proof of valid coverage may help reduce the overall fine levied by the Department of Insurance (LWD).


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State Resources for New Jersey

New Jersey Department Of Insurance

20 West State Street
Trenton, NJ 08625
609-292-5360
NJ Department of Insurance

NJ Compensation Rating and Inspection Bureau

60 Park Place
Newark, NJ 07102
973-622-6014
NJCRIB

NJ Division of Workers' Compensation

PO Box 381
Trenton, New Jersey, 08625-0381
609-292-2515
NJ Division of Workers Compensation

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New Jersey Compensation Rating and Inspection Bureau is responsible for establishing and administering premium rates and regulations for the state.

NJCRIB also manages their own State Fund and Assigned Risk programs for employers who are unable to purchase workers comp insurance from a private insurance carrier.

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$0 Money Down Better Payment Options

We're a national leader in Pay As You Go Workers Compensation. We've developed low price programs to help reduce or eliminate down payments and allow employers to report and pay premium based on their actual wages.

We've negotiated the best deals with many of our insurance companies in order to offer more flexible payment options like 12 equal installment plans and monthly reporting to help improve cash flow for business owners.


Workers Compensation Class Codes
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Tough Class Codes Faster Insurance Quotes

We offer an affordable quote for some of the toughest NCCI class codes and higher experience modifiers because we've partnered with national carriers who specialize in high hazard industries.

Our carriers and underwriters understand that we need to turn wc quotes quickly so our customers can buy coverage when they need it. We often turn quotes in less than 24 hours.

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Learn more about workers compensation insurance in New Jersey Work Comp:   New Jersey | NJ Programs| NJ Rates | NJ Forms | NJ Info | NJ Quotes
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We understand how expensive and cumbersome workers compensation insurance can be in New Jersey. That's why we've built our comprehensive, proprietary platform designed to find the right carriers and the best prices on coverage. We work with more than 35 carriers specializing in workers compensation coverage so you get the very best deal.

Give one of our New Jersey workers compensation Specialists a call today at 888-611-7467 to see if your business qualifies for lower workers' compensation insurance rates.

New Jersey Agency License: 1210226
National Producer Number: 5064979

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