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In a recent study conducted by the Department of Consumer and Business Services, Pennsylvania ranked near the middle as the 26th most expensive workers' comp rates on average in the U.S. This represents a 6 spot improvement compared to a similar study where Pennsylvania ranked as the 20th highest state rates in the country. Pennsylvania workers' comp rates are about the same as the national average.
Pennsylvania is not an NCCI state like most other states. They utilize their own rating system and oversee workers' comp rates in Pennsylvania. The state does allow private insurance companies to compete with regard to base manual rates.
Workers' compensation rates will still vary for the same class codes in Pennsylvania 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:
Pennsylvania workers' compensation rates listed below represent the low and high insurance rates we've found for 2024. Pennsylvania rates are set by the Pennsylvania Rating Bureau. Insurance companies doing business in PA are permitted to offer premium discounts and underwriting credits up to 25%. We offer Pay As You Go workers' compensation insurance in Pennsylvania. Not all employers will qualify for the lowest rates available or maximum policy credits. Our agency helps businesses find the best prices on coverage.
Pennsylvania workers' comp rates vary by NCCI industrial classification codes and insurance company underwriting standards. Employers' who are assigned an Experience Modification Rating (EMR Rating) for 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 Pennsylvania is operated by the State Workers Insurance Fund (SWIF).
State Resources for Pennsylvania
Pennsylvania Department of Labor and Industry
Room 17007th and Forster StreetsHarrisburg, PA 17120717-787-5279 PA Dept. of Labor
Pennsylvania Compensation Rating Bureau
United Plaza Building Ste 150030 South 17th StreetPhiladelphia, PA 19103-4007215-568-2371 DCRB/PCRB
Pennsylvania workers comp laws require that overtime pay be included in premium calculations to determine annual work comp premium. Employers should be advised that all overtime pay is subject to premium and may be added during the annual comp audit process.
Private insurance coverage in Pennsylvania may be more affordable than state fund workers' comp written through SWIF. Contact one of our Specialist to see if we can help your business get a better deal on your next workers' comp policy.
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