2024 Maryland Workers’ Compensation Rates

workers’ compensation rates in Maryland
Mordechai Kamenetsky
Last Updated: 
February 28, 2024

Maryland workers' compensation rates vary based on industry type, payroll volume and claims history. Below, you'll find a list of workers' compensation rates across various industries, sourced from one of our leading partner carriers.

Maryland Workers’ Compensation Rates
Class Code Description Rate Per $100 of Payroll
0035 Farm - Planting & Harvesting - Cannabis Growers $1.62
0042 Landscaping Service $5.08
0106 Tree Trimming - Pruning-Removal $10.58
0917 Residential Cleaning Service - Housekeepers $2.96
2121 Breweries - Craft Beers $1.08
2143 Winery - Winemakers $1.96
2585 Carpet Cleaning $3.26
2589 Dry Cleaning & Laundry Service $1.46
3632 Machine Shop $1.96
3724 Garage Door Installation $3.14
3821 Salvage Yard $4.80
5022 Masonry $7.74
5102 Door & Window Installation $6.68
5183 Plumbing $3.12
5190 Electrical Wiring $2.88
5221 Concrete Construction $4.76
5348 Tile Installation $3.68
5437 Carpentry Trim $5.38
5474 Painting $4.58
5478 Flooring $3.62
5537 HVAC Installation & Repair $3.04
5645 Carpentry NOC, Residential Construction $8.70
7605 Alarm Installation $2.22
8006 Gas $1.64
8017 Retail Store $1.02
8380 Auto Shop $1.94
8742 Outside Sales Person $0.22
8810 Clerical - NOC $0.10
8832 Doctors Office $0.24
8835 Home Health Care $1.40
8842 Group Homes $2.34
9012 Building Operations By Owner $0.72
9014 Janitorial Cleaning $2.00
9015 Building Operations By Contractor $2.18
9052 Hotel Employees $1.52
9082 Restaurant $0.86
9083 Restaurant Fast Food $0.78
9102 Lawn Care $2.36
9516 Electrical Equipment Service & Repair $2.00

What factors influence your Workers’ Comp Premium?

Here are the primary factors that can influence your workers’ comp premium for 2024:



Different types of businesses face different kinds of risks, which affects the cost of workers' compensation insurance. 

The National Council on Compensation Insurance (NCCI) assigns each industry a 4-digit class code to help insurance companies figure out their premium rates.  The higher the risk associated with your industry, the more expensive the rate for your class code.



The total payroll of your business has a direct effect on your workers' compensation premium

Generally, a larger payroll means you'll need more coverage, which can result in higher premiums. Monitoring your payroll expenses can be essential to manage your workers’ comp premiums.

Experience Modification Rate (EMR)

Experience Modification Rate (EMR)

Your company's history of workplace accidents and claims can impact your premium. A business with higher accident rates will likely have higher workers’ comp premiums. 

An Experience Modification Rate, or EMR is used to calculate accident rates and determine the appropriate premium. Companies with lower EMR scores will typically enjoy lower workers’ comp premium rates.

Safety programs and training

Safety programs and training

A strong commitment to safety can help reduce the likelihood of workplace accidents and injuries. 

Implementing safety programs, training employees on safe practices, and creating a safer workplace environment are all factors that can significantly influence your workers’ comp premiums. 

By taking these proactive measures, you may be eligible for discounts on premium rates.

Claims history

Claims history

Your company's previous workers' compensation claims can also affect premium costs. 

Businesses with higher claims frequency are considered high risk and may face increased premiums. Strictly tracking, managing, and minimizing claims can help lower your workers’ comp rates.

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How to calculate your Workers’ Comp Premium

Using a property management company as an example, let's say you have 2 employees with a total payroll of $90,000. The workers’ comp rate in Maryland for property managers is $2.18 per $100 of payroll.

To calculate your workers’ comp premium, you can use the following formula:

(Annual Employee Payroll / $100) x Industry Rate = Your Estimated Premium)

Workers' Compensation Formula

Start by dividing your total expected gross annual payroll for all employees by $100, and then multiply by your industry rate.

For example, with a total payroll of $90,000, you would divide that by 100, resulting in $900. 

Then, multiply this by the Maryland rate for painters, which is $2.18. This calculation would give you an approximate estimate of your workers' comp premium, amounting to $1,962.

Please keep in mind that this estimation does not include taxes and fees, and your claims history could impact the final cost.

Don’t want to do the manual calculation? Get an instant quote and find out what your premium would cost you in Maryland. 

Ready to find your ideal workers’ comp coverage?

Simplify your search with expert help. Kickstand provides a streamlined service to match your Maryland business with the best insurance plans for 2024 and beyond. Start an instant quote or call 886-338-8823 today.

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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 Maryland 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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