Workers' Compensation Rates Oklahoma: A Guide for Employers

Workers' Compensation Rates Oklahoma
Mordechai Kamenetsky
Last Updated: 
February 15, 2024

In Oklahoma, the cost of workers’ comp insurance for businesses varies based on factors such as the industry, size of payroll, and claims history. To give you an idea of the workers' compensation rates for some common industries in Oklahoma, see the chart below:

Oklahoma Workers' Compensation Rates
Class Code Description Rate per $100 of Payroll
3632 Machine Shop $2.23
3724 Garage Door Installation $3.13
3821 Salvage Yard - Automobile Recycling $5.21
5022 Masonry Construction $6.51
5102 Door & Window Installers $6.02
5183 Plumbing Contractors $2.98
5190 Electrical Work - Electrician $2.77
5221 Concrete Work - Flat Work Cement $3.80
5348 Ceramic, tile & Stone Work $3.75
5437 Trim - Finish Carpenters - Cabinets - Countertops $5.37
5474 Painting Contractor $5.43
5478 Floor Installers - Wood - Carpet - Laminate $3.74
5537 HVAC - Heating & Cooling Service/Repair $3.88
5645 Residential Construction - Home Builders - Remodelers - Siding $11.72
7605 Alarm Installation & Repair $2.20
8006 Gas Stations - Convenience Stores $2.02
8017 Retail Stores - Merchandise - Cannabis Dispensary $2.57
8742 Sales Professional $0.35
8810 Clerical - Office Employee $0.15
8832 Medical Office - Doctor - Dentist - Chiropractor - Optometrist $0.32
8835 Home Healthcare Workers $2.43
8842 Group Homes - Temporary Shelters - Disability Facility $3.09
9012 Property Management - Leasing Agent $1.11
9014 Janitorial Service Contractors - Pest Control - Exterminating - Chimney $2.89
9015 Building Maintenance - Campgrounds - Camp - RV Parks $3.30
9052 Hotels & Motels $2.14
9082 Restaurants - Catering $1.31
9083 Fast Food Restaurants - Concessions - Doughnut Shop $1.37
9102 Lawn Service & Maintenance $2.60
9516 Electrical Equipment Repair & Service $3.01

Keep in mind that this is a general guideline, and the actual rates for your business may vary. 

Calculating your Workers’ Comp Premium

Once you've found your rate, calculating your premium is simple. Here's how you do it:

Take your total annual employee payroll, divide it by $100, and then multiply by your industry rate. This will give you an estimate of your premium.

Workers' Compensation Formula

Please keep in mind: This estimate doesn't include taxes and fees, and your claims history could affect the final cost.

What factors influence your Workers’ Comp Premiums?

In Oklahoma, workers' compensation insurance premiums are based on several factors, such as the industry, class codes, payroll size, claims history, and policy credits or debits. Additional discounts may also be added to a policy depending on the size of payroll and overall claims history. 

For a better understanding of how your workers' comp premiums are determined, consider these factors:



Certain industries, such as construction or manufacturing, have higher risk levels and therefore require higher premium rates.



Your workers' comp premiums are generally calculated based on a percentage of your payroll. More employees mean a higher payroll, which leads to higher premiums.

Claims history

Claims history

A better claims history can lead to lower premiums, as it reflects a safer work environment.

Policy credits or debits

Policy credits or debits

Insurance companies can apply policy credits or debits up to 25% to adjust their filed rates. These adjustments can either increase or decrease your premium. 

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Strategies for managing your Workers' Compensation Costs

As a business owner in Oklahoma, how can you manage your workers' compensation costs effectively? Several strategies can be implemented to minimize expenses and keep both your team and your bottom line healthy.

Establish a safety program

Investing in a safety program helps you to identify and eliminate workplace hazards, preventing accidents before they happen. Safety programs have a proven track record of being worth the investment, making them an important part of your cost management strategy.

Review payroll and worker classifications

Making sure your employees are classified in the right industry is crucial; incorrectly classifying employees raises premium costs. Review your payroll regularly to catch any discrepancies.

Invest in return-to-work programs

Introducing a return-to-work program promotes a faster recovery and encourages employees to get back to work sooner, which reduces the time they are on leave. These programs often involve temporary or adjusted job duties that fit your employees' limitations.

Encourage employee involvement

Employees who are not engaged can have a big impact on injury payment expenses. Use a support-based model for your employee injury payment program, which builds trust between you and your team and leads to a healthier, more productive workforce.

By incorporating these strategies into your business, you can actively manage your workers' compensation costs, contributing positively to the overall financial health of your company. 

Remember, a proactive approach and open communication with your team are key to a successful workers' compensation keeping costs down.

Get clear and accurate Workers' Comp Insurance guidance

Still not sure of your estimated premium? At Kickstand Insurance, we offer personalized support for your unique situation. Feel free to contact us at (866) 338-8823 or start an instant quote to see the current low and high workers' comp rates in Oklahoma.

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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 Oklahoma 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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