How much is Workers’ Comp Insurance in Louisiana? 2024 Rates

workers' compensation rates in Louisiana
Mordechai Kamenetsky
Last Updated: 
April 10, 2024

The cost of workers’ compensation in Louisiana is influenced by a few key factors: the size of your business, your total yearly payroll, and the industry your business operates in. To help you get a better picture of what it might cost, we've included a set of rates for common industries from one of our partner carriers.

Workers’ Compensation Rates in Louisiana
Class Code Description Rate Per $100 of Payroll
0035 Farm - Planting & Harvesting - Cannabis Growers $2.62
0042 Landscaping Service $5.44
0106 Tree Trimming - Pruning - Removal $10.55
0917 Residential Cleaning Service - Housekeepers $3.56
2121 Breweries - Craft Beers $1.25
2143 Winery - Winemakers $1.94
2585 Carpet Cleaning $3.93
2589 Dry Cleaning & Laundry Service $1.91
3632 Machine Shop $2.16
3724 Garage Door Installation $3.43
3821 Salvage Yard $7.05
5022 Masonry $8.60
5102 Door & Window Installation $5.93
5183 Plumbing $2.32
5190 Electrical Wiring $2.67
5221 Concrete Construction $4.28
5348 Tile Installation $3.68
5437 Carpentry Trim $7.02
5474 Painting $5.69
5478 Flooring $4.27
5537 HVAC Installation & Repair $3.86
5645 Carpentry Noc. Residential Construction $14.77
7605 Alarm Installation $2.59
8006 Gas $2.15
8017 Retail Store $1.55
8742 Outside Sales Person $0.36
8810 Clerical - NOC $0.16
8832 Doctors Office $0.30
8835 Home Health Care $1.60
9012 Building Operations By Owner $1.11
9014 Janitorial Cleaning $2.64
9015 Building Operations By Contractor $2.89
9052 Hotel Employees $1.79
9082 Restaurant $1.26
9083 Restaurant Fast Food $1.36
9102 Lawn Care $2.91
9516 Electrical Equipment Service & Repair $3.07

Please note that these rates are approximate and can vary depending on factors such as the specific occupation and the carrier you choose. For more accurate quotes tailored to your business, speak to an experienced insurance agent.

Changes to Louisiana Workers' Comp Rates for 2024

Louisiana has approved a 9% reduction in workers' compensation rates, taking effect in May 2024.

This downward trend isn't new, as rates have been consistently falling over the past two decades. In fact, workers' comp rates have experienced a cumulative drop of 37% over the last five years, 49% over the last ten years, and 66% over the past 20 years.

How to calculate your Louisiana Workers' Comp Premium

The basic formula for calculating your workers' comp premium in Louisiana is as follows:

(Payroll / $100) x Rate = Estimated Annual Workers' Comp Premium

Workers' Compensation Formula

Your annual payroll reflects the total wages your employees are paid throughout the year. You'll then divide this amount by $100.

Rate is by Class Codes which represent the industrial classification system, which defines various industries and their associated risks. Different industries will have different rates for their class codes. Use the provided list to get an idea of your class code and rates, or contact an agent. 

Remember that this formula is just a rough estimate, and you will need to consult with a Louisiana workers' comp insurance agent to get an accurate quote.

Here’s an example of how it works

Let's say you own a painting business in Louisiana with an annual payroll of $100,000. The classification rate for painting businesses in Louisiana is $5.69 per $100 of payroll. The estimated annual workers' comp premium would be calculated as follows:

($100,000 / $100) x $5.69 = 5,690

Using this formula, your estimated annual workers' comp premium for your painting company in Louisiana would be around $5,690. Keep in mind that this is just an example and may not accurately reflect your specific business situation.

How can I save money on my Workers' Comp Premiums?

Here are some tips to help you reduce your costs and keep your employees protected:

Maintain a Safe Work Environment

First, focus on creating a safe work environment to minimize the risk of accidents. Implementing safety guidelines and regular employee training can significantly reduce the number of claims filed.

See if anyone can be Excluded

Before committing to a workers' comp policy, understand your options and look into alternate solutions. This could include excluding owners and managing members from the insurance policy depending on your industry and ownership structure. 

Track and Analyze Claims Data

By tracking claim patterns, you can identify areas of concern and address them proactively. For example, if you notice a specific department has more claims than others, you may need to invest in additional safety measures or training.

Verify Payroll Data

Make sure you're not overcharged on your premiums by verifying your payroll data. Inaccuracies can lead to higher workers' comp costs, so ensuring your payroll information is accurate can save you money.

Get a Quote with Kickstand

Why choose Kickstand? Kickstand offers a simple way to obtain a workers' compensation insurance quote tailored specifically to your business. In just a few minutes, you can start protecting your employees and making sure you comply with Louisiana's regulations.

To ensure the most accurate workers' comp insurance quote, be prepared to provide:

  • A detailed description of the work your employees do
  • An estimate of how much you will pay your employees in the next 12 months

You can also choose to include or exclude the owners of the business, depending on your preference and state laws.

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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 Louisiana 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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