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Arizona workers' comp rates have been very consistant over the past few years. The last two studies conducted in 2020 and 2022 both ranked Arizona as one of the top 15 most affordable states, on average, for workers' compensation rates. AZ ranked 44 out of 50 for the lowest average cost in the most recent study.
There has been some increase in rates during the early 2000's. Current speculation indicates that Arizona and most other states will see rates decreasing or remaining stable throughout 2024.
Arizona is an NCCI state like most other states. NCCI issues employers' experience modification rates (EMR) and collects all state data on claims, class codes, premiums, and payroll. They analyze this data and make annual recommendations to carriers and to the Arizona 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 AZ 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.
Ask about our Pay As You Go plans designed to improve cashflow and bullet-proof your audits.
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 & 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.
Rates for State Class Codes. Select Codes Listed:
The workers' compensation rates listed below for Arizona represent the current insurance rates we've found for 2024. AZ rates are regulated by the Arizona State Insurance Department. Insurance companies may be able to offer discounts and credits on workers' comp coverage. We also offer Pay As You Go work comp insurance coverage in Arizona. Not all employers will qualify for the lowest rates or maximum policy credits. Our agency helps employers buy workers' compensation coverage at the lowest rates available.
Arizona utilizes the National Council on Compensation Insurance (NCCI) for rating. AZ maintains a state fund that competes with private insurance companies, NCCI manages the Arizona Workers Compensation Assigned Risk Plan (AWCARP). AZ rates vary by workers' comp class codes and insurance company underwriting standards. Employers' who have an Experience Modification Factor assigned to their business may have additional credits or debits applied to their insurance rates based on prior premium and workers' compensation losses. Find lower Arizona work comp rates today.
State Resources for Arizona
Arizona State Insurance Dept.
2910 North 44th Street Ste 210Phoenix, AZ 85018602-364-2499 Arizona Department of Insurance
Industrial Commission of Arizona
800 West Washington StreetPhoenix, AZ 85007602-542-4661 Industrial Commission of Arizona
Arizona is under the Jurisdiction of the National Council for Compensation Insurance (NCCI) and contracts with various insurance companies for Assigned Risk Coverage.
CopperPoint Mutual Insurance Company (SCF Arizona) is no longer the State Fund carrier and employers do not need to attempt getting a quote from them prior to coming to us for State Fund quotes in Arizona..
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