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Is Workers' Comp Required in New York

New York Workers Compensation Requirements

    Sole-proprietors with no employees are not required to carry coverage. They are required to provide coverage if 1 or more employee, but they are automatically excluded for coverage unless the elect coverage. If a policy is purchased when by a sole-proprietor with no employees, they will be automatically included unless the exclude themselves with the proper form.

    Partners and LLC Members with no employees are not required by law to purchase coverage. Partners are automatically excluded from coverage once they have employees; however, they may elect to include themselves under coverage. Partners who have not employees but choose to cover themselves are automatically included unless the elect to exclude.

    Corporate Officers with one additional owner or less and no employees are excluded from mandatory coverage, but may elect coverage. If more than two Officers, all must be included in coverage. Officers of companies with employees are automatically included for coverage, but may elect to exclude themselves if eligible.

Workers Comp Exemptions in New York

    Sole-Proprietors included on workers compensation coverage must use a minimum payroll amount of $35,100 and a maximum payroll amount of $106,600 for rating their overall workers' compensation cost.

    Partners and LLC must be included at a minimum of $35,100 and a maximum of $106,600.

    Corporate officers who are not excluded from coverage must utilize a minimum payroll of $37,700 in order to calculate the cost of workers comp insurance. Corporate Officers in the state of New York have several exclusions depending upon industry and how the business is structured. It is best to check with an agent or the New York Compensation Insurance Rating Board (As of 10/01/2018.

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How is Workers Comp Calculated?

Workers' compensation is a commercial insurance product categorized as Property & Casualty insurance (P&C Insurance). Even though workers comp is calculated using estimated payroll wages and class codes, premium is still a separate business expense from the cost of payroll. Business owners may treat the cost of coverage as an expense on their taxes.

Work comp rates for all job classification codes are always expressed as a percentage of $100 in wages. An annual policy is always subject to an audit because it was based on estimated wages and not actual wages.

Here is an example using two class codes with different estimated payroll for each class code:

Class Code Insurance Companies Rate Per $100 Estimated Annual Payroll Divide Payroll by 100
8810 Clerical $0.28 base manual rate $25,000  (25000 divided by 100) 250
8835 Home Health Care $1.75 base manual rate $100,000  (100000 divided by 100) 1000

In order to calculate the cost of the policy you only need to multiply each rate with its divided payroll. It benefits employers to re-calculate their premium as their payroll becomes larger than originally anticipated.

Class Code Workers Comp Calculator Estimated Premium
8810 Clerical $0.28 X 250 $70.00
8835 Home Health Care $1.75 X 1000 $1,750.00
Workers' Compensation Laws Vary by State

Every state has their own rules for how employees must be covered and how they must be classified for rating premium. A lot of states use state specific class codes and have different requirements for who is obligated to carry workers' compensation insurance coverage.

If you have employees that travel out of state for work, or they work in multiple states throughout the year, you may need to purchase insurance for all the states where your workers are located and working. In most cases, you can add multiple states to one policy.

Workers' Compensation Insurance in New York can be purchased from private insurance companies authorized by the state to provide coverage. The Assigned Risk Pool, or State Insurance Fund, is available for employers who are unable to find coverage from a private company. can help you navigate your best options.

Policy premium is based on numerous factors including: class codes assigned to your business and employees, estimated payroll, covered states, prior policies, owner experience and previous insurance claims.

Enjoy the benefits of our Pay As You Go Workers' Comp Options in New York.

$O Deposit or PayGo Programs

We've developed Pay As You Go workers compensation programs that reduce or eliminate premium deposits and allow New York business owners to report and pay premium based on actual payroll wages. Protect your business from audits.

Smaller Installment Payments

We've negotiated special terms with many of our insurance carriers to offer more flexible payment options like 12 equal installments plans and monthly reporting programs to help improve cash flow for our business owners.

Coverage for Tough Class Codes

We offer workers compensation quotes from over 35 insurance carriers writing insurance in NY, making us your best option for lower workers compensation rates, and quotes for tougher work comp class codes in New York.

New York Workers Compensation Insurance Quotes

NY Workers' Comp Specialists

New York state is currently in the top five most expensive states with regard to the average cost of workers compensation insurance. The cost of coverage in the state varies significantly between insurance companies so employers are advised to shop several carriers.

Help with NY Class Codes

New York utilizes its own private programs for administering workers comp rating and does not utilize NCCI. Let our NY workers compensation Specialists help you determine your correct class codes before your buy coverage. We'll help ensure your business is properly covered.

Fast Workers' Comp Quotes

We make the process of getting workers compensation quotes fast and easy. We know your time is valuable. That's why we work harder to streamline the quote process, compare your rates and coverages, and present your best options as quickly as possible. We often have your insurance quotes ready in less than 24 hours.

Compare Rates With More Carriers

We're a National Agency, and we have dozens of carriers offering workers comp quotes in New York. We have access to over 35 insurance companies with a diverse appetite and competitive rates. Our markets know we expect the lower rates, bigger discounts, and more policy credits when we request a quote.


Did you know that the cost of a workers comp policy in New York can vary significantly between insurance company, underwriter, and insurance agency?
Find the best deal on workers compensation insurance.
Visit NCCI for more resources and information about workers' compensation class codes. Visit United States Department of Labor for more information about government agencies managing workers compensation insurance rates.

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