Workers' Compensation CT Rates for 2024

workers' compensation rates in Connecticut
Mordechai Kamenetsky
Last Updated: 
March 4, 2024

In Connecticut, workers' compensation rates are determined by a variety of factors, including the type of work being performed and the level of risk associated with that work. 

Here’s a list of the state's most common industries and the 2024 Connecticut workers’ comp rates from one of our leading partner carriers:

Workers' Compensation Rates in Connecticut
Class Code Description Rate Per $100 of Payroll
0035 Farm - Planting & Harvesting - Cannabis Growers $2.26
0042 Landscaping Service $6.57
0106 Tree Trimming - Pruning-Removal $9.79
0917 Residential Cleaning Service - Housekeepers $4.35
2121 Breweries - Craft Beers $1.44
2143 Winery - Winemakers $3.05
2585 Carpet Cleaning $4.61
2589 Dry Cleaning & Laundry Service $2.06
3632 Machine Shop $2.52
3724 Garage Door Installation $4.74
3821 Salvage Yard $6.25
5022 Masonry $9.22
5102 Door & Window Installation $6.32
5183 Plumbing $3.93
5190 Electrical Wiring $3.05
5221 Concrete Construction $5.61
5348 Tile Installation $5.47
5437 Carpentry Trim $5.99
5474 Painting $6.96
5478 Flooring $4.76
5537 HVAC Installation & Repair $4.29
5645 Carpentry Noc. Residential Construction $15.53
7605 Alarm Installation $2.65
8006 Gas $2.29
8017 Retail Store $1.71
8742 Outside Sales Person $0.26
8810 Clerical - NOC $0.10
8832 Doctors Office $0.41
8835 Home Health Care $1.99
9012 Building Operations By Owner $0.97
9014 Janitorial Cleaning $2.94
9015 Building Operations By Contractor $3.16
9052 Hotel Employees $2.23
9082 Restaurant $1.03
9083 Restaurant Fast Food $1.04
9102 Lawn Care $2.97
9516 Electrical Equipment Service & Repair $2.96

How to calculate your Workers' Comp Premium 

The formula for calculating your workers' comp premium is relatively straightforward and involves the rate, payroll, and a standard divisor of 100. Here's how you fit these elements together in the formula:

(Annual Payroll/100) x Rate = Premium 

workers' compensation formula

Annual Payroll: This is the total amount of money your business spends on wages, salaries, and other compensations for your employees. 

Rate: This is determined by the workers' comp insurance classification for your business, which reflects the level of risk associated with the job. Rates are typically expressed per $100 of payroll. 

For example, let's take the case of a home health care agency in Connecticut with a rate of $1.99 per $100 of payroll.

Let's say the annual payroll is $250,000.

The annual workers' comp premium for the home health care agency, given a $250,000 payroll and a rate of $1.99 per $100 of payroll, would be $4,975.

Reduction in Workers' Compensation Rates in Connecticut

The Connecticut Workers' Compensation Commission and the Connecticut Insurance Department have announced that businesses in the state will receive a nearly 10% decrease in workers' compensation rates starting from January 1, 2024. YAY!

As a business owner, you will likely see reduced premium costs, making it more affordable to provide workers' compensation coverage for your employees. 

What factors influence your Workers' Comp Premiums?

When it comes to determining your workers' compensation insurance premium, several factors come into play. By understanding these factors, you can take steps to manage your costs while ensuring adequate coverage for your employees.

Class Codes

Class Codes

One primary factor affecting your premium is the industry classification, or class code. Each occupation in your business receives a specific class code, representing the risk associated with that particular job. 

The higher the risk associated with a particular class code, the higher the premium cost. It’s important to ensure that your employees are correctly categorized under the appropriate class codes to avoid overpaying for workers' compensation insurance.

Claims History

Claims History

Your company's claims history plays a significant role in determining your premium. Businesses with a higher number of claims in their history may face higher premiums, as these claims indicate a greater likelihood of future injuries. 

If you can maintain a low claims history by implementing safety measures and properly addressing workplace injuries, you can potentially reduce your workers' compensation premium.

Payroll Size

Payroll Size

Your company's payroll size directly impacts the premium you pay for workers' compensation. A larger payroll typically results in higher premiums, as there are more employees who could potentially suffer from workplace injuries. 

It's important to accurately report your payroll size to avoid errors in calculations that could influence your premium rate.

Safety Programs

Safety Programs

Implementing effective safety programs in your workplace can help lower your workers' compensation premium. By reducing the risk of workplace injuries, you demonstrate a commitment to employee safety, which could ultimately result in a lowered premium. 

Insurers often offer discounts or incentives for organizations that implement safety programs, such as safety training, equipment upgrades, or risk management plans.

Payment Plan

Payment Plan

Finally, the payment plan you choose for your workers' compensation policy may impact your premium costs. Some insurance providers offer discounts for businesses that opt for annual or semi-annual payment plans, rather than monthly payments. 

It's essential to review available payment options and choose the one that best fits your business's specific needs.

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Note: The rates listed above have been provided by one of our partner insurance carriers, and were accurate at the time of publishing and for illustrative purposes only and may not reflect actual current rates for workers' compensation insurance in Connecticut at this time. Various factors, such as claim history and business experience can affect the rate as well. Business owners should consult with an insurance agent or the NCCI for accurate and up-to-date rate information.

Note: The information provided in this blog is intended for general informational purposes only and is not a substitute for professional legal or insurance advice. Laws and regulations regarding workers' compensation insurance are complex and vary by state and by specific circumstances. Therefore, readers are encouraged to consult with a qualified legal or insurance professional to obtain advice with respect to any particular issue or problem they might have.

Mordechai Kamenetsky

Mordechai Kamenetsky, co-founder and lead agent of Kickstand, is recognized as an expert in workers' compensation. He is passionate about helping small businesses manage risks and lower their workers' comp costs. In his articles, he educates readers and clients on the intricacies of workers' comp insurance.

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