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Massachusetts ranks as the 18th lowest rates in the U.S. for affordable workers' compensation rates, according to a recent study completed by the Department of Consumer Business & Services. This makes Massachusetts one of the least expensive states in the county. It also represents a slight rate decrease over the same study conducted in 2022. Massachusetts previously ranked 35th. Massachusetts workers' comp rates are approximately 17% below the national median.
While Massachusetts enjoys the benefit of low workers' comp rates, many employers are still paying more for their workers' compensation insurance because they have not shopped coverage in years. Insurance companies tend to offer lower work comp rates in order to win new business than they do on existing renewal policies.
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.
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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:
Massachusetts rates are established by the Workers Compensation Rating and Inspection Bureau. MA is not a competitive rating state. Rates are set by the state. The workers' compensation rates listed below for Massachusetts represent the current insurance rates found for 2024. Insurance companies may be able to offer discounts and credits on workers comp policies. We offer Pay As You Go workers' comp coverage in Massachusetts. Not all employers will qualify for the lowest rates available or maximum policy credits. We compare rates with dozens of insurance companies doing business in Massachusetts so your business gets the lowest rates on their coverage.
Massachusetts workers' comp rates vary by industry classification codes and insurance company underwriting standards. Employers' who have an Experience Mod Factor (E-Mod) assigned to their business may have additional credits or debits applied to their insurance rates based on prior premiums and workers' compensation losses. There is no State Fund program in MA, but assigned risk insurance for companies unable to find private insurance is managed by the Workers' Compensation Rating and Inspection Bureau.
State Resources for Massachusetts
Massachusetts Division Of Insurance
One South Station, 5th FloorBoston, MO 02110-2208617-521-7794 Consumer Affairs and Business Regulation
Workers Compensation Rating and Inspection Bureau
101 Arch StreetBoston, MA 02110617-439-9030 Workers Compensation Rating and Inspection Bureau of Massachusetts
Massachusetts is not under the jurisdiction of the National Council for Compensation Insurance (NCCI). The state has its own independent bureau known as the Workers Compensation Rating and Inspection Bureau of Massachusetts.
Our agency helps employers find affordable private insurance coverage as well as Assigned Risk coverage with WCRIB.
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