Oil/Gas Wells - Drilling/Operation workers comp rate in New Jersey
The filed workers comp rate for class code 1624 (Oil/Gas Wells - Drilling/Operation) in New Jersey is $3.89 per $100 of payroll , effective 2025-01-01. On $500,000 of payroll, that's roughly $19,450 in base premium.
Rate per $100 $3.89
Rate type manual_rate
Authority NCCI / state rating bureau
Effective 2025-01-01
vs peers 100%
Confidence HIGH
FAQ
What is the workers comp rate for code 1624 in New Jersey?
The filed workers comp loss cost / rate for NCCI class code 1624 (Oil/Gas Wells - Drilling/Operation) in New Jersey is $3.89 per $100 of payroll, effective 2025-01-01.
How much would I pay in New Jersey for code 1624 on $500,000 of payroll?
At $3.89 per $100, $500,000 of payroll yields a base premium of $19,450 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). New Jersey sits at the 100th percentile across 20 peer states.