Oil/Gas Wells - Drilling/Operation workers comp rate in Michigan
The filed workers comp rate for class code 1624 (Oil/Gas Wells - Drilling/Operation) in Michigan is $1.71 per $100 of payroll , effective 2024-01-01. On $500,000 of payroll, that's roughly $8,550 in base premium.
Rate per $100 $1.71
Rate type manual_rate
Authority Compensation Advisory Organization
Effective 2024-01-01
vs peers 65%
Confidence HIGH
FAQ
What is the workers comp rate for code 1624 in Michigan?
The filed workers comp loss cost / rate for NCCI class code 1624 (Oil/Gas Wells - Drilling/Operation) in Michigan is $1.71 per $100 of payroll, effective 2024-01-01.
How much would I pay in Michigan for code 1624 on $500,000 of payroll?
At $1.71 per $100, $500,000 of payroll yields a base premium of $8,550 before experience modifier and schedule credits. Actual cost varies by carrier and underwriting.
Where else can I see code 1624?
UT has the cheapest filed rate for code 1624 ($0.560) and NJ the highest ($3.89). Michigan sits at the 65th percentile across 20 peer states.