Real Experts- Trusted Advice
Texas has made dramatic improvements with regard to the average cost of workers' compensation over the past decade. The state has improved from the 12th most expensive to the 36th most expensive state between 2012 and 2020, according to a bi-annual study conducted by the Department of Consumer Business and Services.
Texas is a file and use state for private insurance companies, which means insurance companies don't need to have their rates approved by the state. Therefore, rates can vary quite a bit between insurance companies. Employers shopping for lower workers' compensation rates are well served to get quotes from several carriers to ensure they find a company with good rates.
Texas Mutual serves as the State Fund for Texas. They are required by law to provide coverage if no private carriers will offer coverage due to claims or class codes. Get a free no obligation quote from up to 35 insurance companies. Call 888-611-7467 today.
What Influences the Cost of Your Coverage?
Insurance companies file their "base manual rates" for approval for each state
classification code. Rate recommendations are generally made annually by the
National Council on Compensation Insurance.
Employee claims are reported to NCCI and statistically compared with all other
businesses using the same class code. An Experience Modification Factor will
apply to your business after a few years.
Insurance company underwriters are permitted to make premium adjustments based
on unique factors about your business, safety practices, and management
experience in most states.
Insurance companies may typically apply policy credits and debits to the base
Manual rates and additional discounts can be applied tp premium as the total
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.
Texas is not and NCCI state and maintains its own independent rating bureau managed by the Texas Department of Insurance. Since there is no comparative index for Texas that publishes the highest rates in the state, we are only to show the lowest rates we've found effective 3/1/2019. We can't guarantee that a business will qualify for the lowest workers comp rates available in the state. We do shop rates with over 35 insurance companies in an effort to ensure you get the best price available for your business and classification codes.
Texas workers comp rates vary by their respective insurance class codes and insurance company underwriting guidelines. Employers' who have an Experience Modifier (E-Mod) assigned to their policy may have additional credits or debits applied to their work comp rates based on their premium size and prior workers compensation claims. Get TX quotes or shop for out-of-state workers compensation insurance coverage today.
State Resources for Texas
Texas Department Of Insurance
333 GuadalupeAustin, TX 78701800-578-4677 TX Dept. of Insurance
Texas Division of Workers Compensation
7551 Metro Center Drive Ste 100Austin, TX 78744-1645800-252-3439 TX Div of Workers Compensation
Texas Mutual Insurance Company
6210 East Highway 290 Austin, Texas 78723-1098 800-859-5995 Texas Mutual Insurance Company
Texas is not under the Jurisdiction of the National Council for Compensation Insurance (NCCI). Texas maintains its own independent rating bureau managed by the TX Department of Insurance.
Our agency can help employers find guaranteed state fund coverage in TX written with Texas Mutual. If we can't find more affordable coverage with a private insurance provider we can help buy a state fund policy.
Get more information about workers' compensation in Texas: