Nevada is among the least expensive states for workers’ compensation insurance. Costs are based primarily on the number of employees you have, how much they are paid, the types of jobs they perform, and your company's history of accidents and workers’ compensation claims.
Every occupation is assigned a classification code, and each class code is assigned a base rate according to the likelihood that an employee will be severely injured while doing it. These rates are set and managed by the Nevada Department of Insurance and the National Council on Compensation Insurance (NCCI).
Insurance companies are required to use these base rates, but costs can vary from one provider to the next because they are permitted to stay competitive by reducing rates up to 25% through discounts and incentives.
Examples of workers' comp cost ranges per $100 of employer payroll in Nevada:
- Landscapers: $4.01 to $6.40
- Tree Trimmers/Removers/Pruners: $14.57 to $23.24
- Plumbing Contractors: $3.93 to $6.27
- Retail Store Workers: $1.06 to $1.69
- Clerical/Office Employees : $0.19 to $0.30
- Restaurant Workers: $0.69 to $1.10
Employers will a solid history of employee safety will pay rates at the lower end, while those whose worker injuries exceed industry expectations will pay rates at the higher end.