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Rates for Workers' Compensation Insurance in the state of Oregon are very good compared to most other states. On average, Oregon rates are about 27 percent lower than the national average. Oregon workers' comp rates have decreased by more than 10 percent since 2016. Oregon ranks in the top 10 least expensive states for workers' comp coverage.
Oregon is an NCCI state like most other states. This means that NCCI oversees 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 Oregon Department of Insurance. Every Insurance company is required to file their rates with the state for approval each year.
Workers' compensation rates do vary for the same class codes in Oregon 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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What influences my workers comp insurance cost?
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.
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.
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.
Insurance companies may apply policy credits and debits to the base
manual rates. Additional discounts can be applied to premium as the total payroll &
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.
Rates for State Class Codes. Select Codes Listed:
The workers' compensation rates listed below for Oregon represent the lowest and highest insurance rates for 2023. Oregon rates are set by the Oregon Workers' Compensation Division with oversight from the Department of Consumer and Business Services. Insurance companies doing business in the state are permitted to offer premium discounts and scheduled credits up to 25% on workers compensation policies. We offer Pay As You Go work comp coverage in Oregon. Not all employers will qualify for the lowest rates available or maximum policy credits. Compare your workers' compensation rates with over 35 insurance carriers.
Oregon workers compensation rates vary by insurance company underwriting guidelines and work comp classification codes. Employers' who have an Experience Modifier (EMR Rating) assigned to their business may have additional credits or debits applied to their insurance rates based on prior premiums and workers' compensation losses. The State Fund in Oregon is SAIF Corporation. Employers who are unable to buy coverage from a private insurance carrier may purchase a policy from SAIF. Get quotes for Oregon or get help finding a multi-state policy for your business.
State Resources for Oregon
Oregon State Fund
SAIF Corporation400 High St SESalem, OR 97312 800.285.8525 http://www.saif.com/
Oregon Department of Consumer and Business Services
Department of Consumer and Business Services350 Winter St. NE, Rm. 27PO Box 14480Salem, OR 97309-0405(503) 947-7810 http://www.wcd.oregon.gov/
Oregon is under the Jurisdiction of the National Council for Compensation Insurance (NCCI) and contracts with Travelers as the state fund carrier.
Our agency helps employers find guaranteed state fund workers' comp in OR. If we can't find more affordable coverage with a private insurance company, we can help you buy a state fund policy.
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Get more information about workers' compensation in Oregon:
Workers Compensation Info
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