North Carolina workers' compensation rates stable in 2023.

North Carolina ranks near the middle of the national average. A 2022 study ranked NC as the 30th highest average premium rates across the United States. NC rates are approximately 9% lower than the national average. A similar study done in 2020 ranked the state 31st regarding average rates for worker's comp costs. North Carolina's median rates are currently better than par with regard to the average rates in the U.S.

North Carolina is an NCCI state like most other states. This means that NCCI manages employers' experience modifiers and collects all data for the state including claims, class codes, premiums, and payroll. They analyze this data and make annual recommendations to carriers and to the NC Department of Insurance. Every Insurance company is required to file their rates with the state for approval each year.

Workers' compensation rates will vary for the same class codes in North Carolina because insurance companies can apply policy credits and debits up to 25% to adjust their filed rates. More discounts may also be added to a policy depending on the size of payroll and overall claims experience.

Don't pay too much for your workers' comp coverage. Our agents will find your best deal. 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.

NC Rates for Select Work Comp Class Codes

Rates for State Class Codes. Select Codes Listed:

The workers' compensation rates listed below for North Carolina represent the current high and low insurance rates for 2023. North Carolina is a competitive rating state, but not under the jurisdiction of NCCI. Rates are set by the North Carolina Industrial Commission. Private insurance companies are allowed to offer premium discounts and workers comp credits up to 25% on policies. We offer Pay As You Go workers' comp in North Carolina. Not all employers will qualify for the lowest rates available or maximum policy credits. We shop rates with more carriers so our customers get the best price.

Class Code & Description Low Rate High Rate
0042 Landscaping $3.88 $10.60
3632 Machine Shop $2.14 $5.84
3724 Garage Door Installation $2.48 $6.77
3821 Salvage Yard $5.37 $14.67
5022 Masonry $6.45 $17.61
5102 Door & Window Installation $4.17 $11.39
5183 Plumbing $3.15 $8.60
5190 Electrical Wiring $3.49 $9.53
5221 Concrete Construction $3.56 $9.73
5348 Tile Installation $3.46 $9.45
5437 Carpentry Trim $4.46 $12.18
5474 Painting $5.99 $16.36
5478 Flooring $2.72 $7.43
5537 HVAC Installation & Repair $4.33 $11.83
5645 Carpentry Noc. Residential Construction $12.47 $34.06
7228 Short Haul Trucking $6.20 $16.93
7605 Alarm Installation $1.89 $5.16
8006 gas $2.35 $6.42
8017 Retail Store $1.30 $3.55
8380 Auto Shop $2.06 $5.63
8742 Outside Sales Person $0.29 $0.79
8810 Clerical - NOC $0.10 $0.27
8832 Doctors Office $0.30 $0.82
8835 Home Health Care $2.15 $5.87
8842 Group Homes $1.62 $4.42
9012 Building Operations By Owner $0.79 $2.16
9014 Janitorial Cleaning $2.25 $6.14
9015 Building Operations By Contractor $2.32 $6.34
9052 Hotel Employees $1.59 $4.34
9082 Restaurant $0.96 $2.62
9083 Restaurant Fast Food $1.04 $2.84
9102 Lawn Care $2.40 $6.55
9516 Electrical Equipment Service & Repair $4.18 $11.42

North Carolina rates vary by workers' compensation classification codes and insurance company underwriting standards. Employers' who have an Experience Modification Factor (E-MOD) assigned to their business may have additional credits or debits applied to their insurance rates based on prior premiums and workers' compensation loss experience. There is no State Fund in North Carolina. Assigned Risk policies are available for employers that are unable to find private insurance through the North Carolina Rate Bureau.

State Resources for North Carolina

North Carolina Rate Bureau

2910 Summer Blvd
Raleigh, NC 27616

North Carolina Industrial Commission

430 N Salisbury Street
Raleigh, NC 27603-5926
NC Industrial Commission

North Carolina is under the Jurisdiction of the National Council for Compensation Insurance (NCCI). While there is not State Fund in NC, all Assigned Risk coverage is managed by the North Carolina Rate Bureau.

Our agency helps employers find guaranteed state fund workers' comp in NC. If we can't find more affordable coverage with a private insurance company, we can help your business get a state fund quote.

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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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