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Is Workers' Comp Required in Vermont

Vermont Workers Compensation Requirements

    In the state of Vermont every employer who hires one or more employees must carry workers' compensation coverage.

    Sole-Proprietors and Partners are excluded from coverage, but may elect to be exempt.

    Corporate Officers and LLC Members are automatically included in coverage, but they may elect to be excluded.

Workers' Comp Exemptions in Vermont

    Sole-Proprietors and Partners who include themselves on workers compensation coverage must use an annual payroll amount of $44,400 for rating purposes (Accurate as of 3/1/2019, last updated by the state on 4/1/2018).

    Officers and LLC Members who are not excluded from coverage must utilize a minimum payroll of $850 per week ($44,200 Annual) and a maximum payroll of 3,400 per week ($176,800 Annual) in order to calculate the cost of workers comp insurance. (Accurate as of 3/1/2019, last changed by the state on 4/1/2017)

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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 Vermont 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 Vermont.

$O Deposit or Minimum Down

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

Lower Monthly Payments

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

Workers Comp in Vermont

With a very limited selection of carriers actively writing business in Vermont, it's important for employers to find the best deal. At Workers Compensation all we do is workers comp. We know how to find the lowest rates for your coverage.

Vermont Workers Compensation Insurance Quotes

VT Workers' Comp Specialists

Rates on Workers' Comp are much more expensive than the national average and they are on the rise. As of 2018 rates in Vermont are 25 percent higher than the rest of the country. Because VT rates are so high, it's important for businesses to take advantage of all the cost-saving programs and credits available to their business.

Help with VT Class Codes

Insurance rates vary significantly between NCCI classification codes. Let our VT Workers Compensation Specialists help you determine your correct workers compensation class codes before you purchase a work comp policy. We'll help make sure your business is properly covered and that you find the lowest insurance rates for your industry.

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 tons of carriers offering work comp in Vermont. We have access to over 35 insurance companies with a diverse appetite and competitive rates. Our markets know we expect the lowest rates, bigger discounts, and more policy credits when we request a quote.


Did you know that the cost of a workers comp policy in Vermont 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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