Oil/Gas Wells - Drilling/Operation workers comp rate in Minnesota
The filed workers comp rate for class code 1624 (Oil/Gas Wells - Drilling/Operation) in Minnesota is $1.72 per $100 of payroll , effective 2024-07-15. On $500,000 of payroll, that's roughly $8,600 in base premium.
Rate per $100 $1.72
Rate type pure_premium
Authority MWCIA
Effective 2024-07-15
vs peers 70%
Confidence HIGH
FAQ
What is the workers comp rate for code 1624 in Minnesota?
The filed workers comp loss cost / rate for NCCI class code 1624 (Oil/Gas Wells - Drilling/Operation) in Minnesota is $1.72 per $100 of payroll, effective 2024-07-15.
How much would I pay in Minnesota for code 1624 on $500,000 of payroll?
At $1.72 per $100, $500,000 of payroll yields a base premium of $8,600 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). Minnesota sits at the 70th percentile across 20 peer states.