New York workers' compensation rates expected to be steady in 2023.

New York's average cost for workers' compensation coverage should be relatively flat in 2023. A recent study conducted by the Department of Consumer Affairs indicates that New York is currently the 4th highest state, on average, for workers' comp rates. NY was number 5th in 2012 and 2016. It ranked 2nd in 2020. NY Rates are about 69% higher than the national median.

The workers' compensation system in NY is administered by NYCIRB. New York is a Loss Cost state which means that the NY Rating Board issues new manual rates for workers' compensation each year (Usually around October 1st). Every insurance carrier must utilize these manual rates to develop premium. However, many of our insurance company partners offer additional policy discounts and premium credits up to 25% for our New York policyholders.

Don't pay too much for your workers' comp coverage. Our agents will find the best deal for your workers' comp coverage. Our technology tracks carrier rates by state and compares their pricing in real-time. Find out how knowledegeable agents, better advice and more options lead to lower rates and a better price.

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Workers Comp Rates are an Art & Science

What influences my workers comp insurance cost?

Your State & Class Codes

Insurance companies file their "base manual rates" for approval with each state for all class codes. Rate recommendations are generally made to the state and carriers annually by the National Council on Compensation Insurance.

Your Claims or Losses

Employee claims are reported to NCCI and statistically compared with all other similar type businesses using the same class code in each state. An Experience Modification Rate may apply to your business after a few years of coverage.

Prior Experience & Coverage

Insurance company underwriters are permitted to make premium rate adjustments based on unique factors about your business, safety practices, and management experience in most states.

Policy Credits and Debits

Insurance companies may apply policy credits and debits to the base manual rates. Additional discounts can be applied to premium as the total payroll & premium increases.

Smart Agents with expertise in workers' compensation insurance utilize this information to negotiate your insurance rates with underwriters. A good narrative about your business helps insurance companies justify a better price.

New York Workers Comp Rates and Class Codes

Rates for State Class Codes. Select Codes Listed:

The workers' compensation rates listed below for New York represent the current lowest and highest insurance rates we've found for 2023. New York rates are set by the New York Workers' Compensation Board and New York State Insurance Department. Insurance companies may be able to offer discounts and credits on policies in NY. We offer Pay As You Go workers' compensation in New York. Not all employers will qualify for the lowest rates available or maximum policy credits. Compare your workers compensation rates with over 35 insurance carriers.

Class Code & Description Low Rate High Rate
0035 Farm- Planting and Harvesting- Cannabis Growers $2.63 $5.13
0042 Lawn Service and Maintenance $5.33 $10.39
0106 Tree Trimming- Pruning- Removal $7.87 $15.35
0917 Residential Cleaning Service- Housekeepers $4.40 $8.58
2121 Breweries- Craft Beers $3.87 $7.55
2143 Winery- Wine Makers $3.88 $7.57
2593 Carpet Cleaning $6.09 $11.88
3632 Machine Shop $3.73 $7.27
3724 Garage Door Installation $5.07 $9.89
3821 Salvage Yard-Automobile Recycling $7.29 $14.22
5022 Masonry Construction $18.94 $36.93
5102 Metal Building Construction $13.52 $26.36
5102* Solar Energy Contractors- Installation $13.52 $26.36
5183 Plumbing Contractors $6.95 $13.55
5190 Electrical Work- Electrician $4.90 $9.56
5191 Alarm Installation and Repair $1.38 $2.62
5221 Concrete Work- Flat Work Cement $11.55 $22.52
5223 Pool Installation- Pool Maintenance $7.98 $15.56
5348 Ceramic, Tile and Stone Work $8.35 $16.28
5429 Trim- Finish Carpenters- Cabinets- Countertops $7.09 $13.83
5445 Drywall Contractors $9.02 $17.59
5474 Painting Contractor $9.74 $18.99
5536 HVAC- Heating and Cooling Service/Repair $6.69 $13.05
5538 Metal Building Construction $6.96 $13.57
5545 Roofing Contractors $19.56 $38.14
5606 Asphalt & Paving Work $3.88 $7.57
5645 Residential Construction- Home Builders- Remodelers- Siding $9.02 $17.59
6217 Excavation and Grading Work $7.01 $13.67
6400 Fence Installation & Repair $5.94 $11.58
7197 Package and Parcel Delivery $8.60 $16.77
7219 Trucking- Short Haul and Long Haul $9.75 $19.01
7219* Towing Company $9.75 $19.01
7377 Non-Emergency Medical Transportation- Taxi- Limousine- Airport Shuttle $8.19 $15.97
7720 Security Guards- Patrol Officers $2.41 $4.70
8006 Gas Stations- Convenience Stores $1.71 $3.35
8017 Retail Stores- Merchandise- Cannabis Dispensary $1.42 $2.77
8292 Warehousing and Storage Facility $4.94 $9.63
8293 Furniture Moving &/or Storage & Drivers $9.04 $17.63
8391 Auto Service and Repair- Mechanic $3.32 $6.47
8391* Auto Body Repair $3.32 $6.47
8742 Sales Professional $0.29 $0.57
8810 Clerical- Office Employee $0.13 $0.25
8831 Animal Shelters and Kennels- Veterinarian $1.23 $2.40
8832 Medical Office- Doctor- Dentist- Chiropractor, Optometrist $0.40 $0.78
8840 Religious Organization- Church- Temple $0.50 $0.98
8864 Social Service Organizations- Counseling- Family Services $3.06 $5.97
8865 Group Homes- Temporary Shelters- Disability Facility $3.22 $6.28
8869 Child Care Center- Daycare Providers $0.88 $1.72
9028 Property Management- Leasing Agent $3.16 $6.16
9030 Janitorial Service Contractors- Pest Control- Exterminating- Chimney $5.15 $10.04
9048 Building Maintenance-Campgrounds-Camps-RV Parks $2.31 $4.50
9051 Home Healthcare Workers $3.56 $6.94
9052 Hotels and Motels $3.13 $6.10
9060 Golf Courses and Country Clubs $1.47 $2.87
9071 Restaurants- Catering $1.84 $3.59
9072 Fast Food Restaurant- Concessions- Doughnut Shop $2.06 $4.02
9102 Lawn Service & Maintenance $3.34 $6.51
9180 Shooting Range- Amusement Park $2.68 $5.23
9402 Septic Tank Cleaning- Portable Toilets $6.35 $12.38
9403 Refuse Collection- Garbage- Trash Service $11.55 $22.52
9519 Electrical Equipment Repair and Service $4.09 $7.98
9521 Floor Installers- Wood-Carpet-Laminate $4.51 $8.79

New York workers' comp rates vary by industry class codes and insurance company underwriting standards. Employers' who have an Experience Modification Rating (E-MOD or EMR Rating) assigned to their company may have additional credits or debits applied to their insurance rates based on prior premiums and workers' compensation loss experience. The New York State Fund is managed by The State Insurance Fund (SIF).

State Resources for New York

New York Compensation Insurance Rating Board

200 East 42nd Street
New York, NY 10017

New York State Insurance Department

Rockefeller Empire State Plaza
Agency Building One
Albany, NY 12257
Department of Financial Services

New York State Workers' Compensation Board

20 Park Street
Albany, NY 12207
NY Workers Compensation Board

New York State Insurance Fund- SIF

1 Watervliet Ave Ext.
Albany, NY 12206

New York is not an NCCI as they are under the jurisdiction of NYCIRB. The state has its own State Insurance Fund (SIF) which is a non-profit agency that operates separately from other state workers comp agencies.

The New York State Fund (SIF) is the insurance carrier of last resort in NY and must provide access to legally required workers compensation coverage to all employers in New York. The may only deny coverage if an employer owes a previous balance.

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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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