What Factors Influence Workers’ Comp Costs
What factors impact the cost of workers’ compensation insurance?
Factors that generally impact the cost of workers’ compensation include:
- Frequency and severity of claims
- States where operations are located
- Type of work and payroll size
Workers’ compensation is regulated on a state level and because of that, costs can vary based on several factors. In simple terms, the more employees and the more potential risk that the work presents, the more workers’ compensation will cost.