Vermont Workers' Compensation Rates

Vermont workers' compensation rates expected to be flat in 2024.

Workers' compensation insurance rates in Vermont are more expensive than the national average. Rates have been on the rise until last year. As of 2022, Vermont's averga work comp rates are about 56% percent higher than the rest of the country. Overall, rates are down slightly since 2020. Vermont is currenlty raked as the 6th most expensive state in the country for buying work comp coverage. Recently, more insurance companiies have entered the Vermont marketplace which should help increase competition in the state.

Vermont is an NCCI state like most other states. NCCI issues 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 VT 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 Vermont 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.