Workers comp rates for code 5040: Iron & Steel Erection
NCCI class code 5040 covers Iron & Steel Erection in the construction industry. The median rate across 22 states is $4.10 per $100 payroll. Rates range from $0.930 in Utah to $12.83 in Illinois.
Also known as: Steel Erector · Structural Steel Installation
Most expensive 5 states
- Illinois $12.83
- New York $12.56
- California $10.72
- New Jersey $9.66
- Hawaii $6.70
Code 5040 rates in all 22 states
| State | Code | Rate per $100 | vs peers | Source |
|---|---|---|---|---|
| Utah | 5040 | $0.930 | 5% | view |
| Kansas | 5040 | $1.66 | 9% | view |
| Tennessee | 5040 | $2.24 | 14% | view |
| Kentucky | 5040 | $2.88 | 18% | view |
| Virginia | 5040 | $2.89 | 23% | view |
| Alabama | 5040 | $3.05 | 27% | view |
| Louisiana | 5040 | $3.11 | 32% | view |
| Oregon | 5040 | $3.12 | 36% | view |
| Alaska | 5040 | $3.59 | 41% | view |
| Maryland | 5040 | $3.83 | 45% | view |
| Arkansas | 5040 | $3.90 | 50% | view |
| Indiana | 5040 | $4.10 | 55% | view |
| Michigan | 5040 | $4.23 | 59% | view |
| Nevada | 5040 | $4.50 | 64% | view |
| Minnesota | 5040 | $5.01 | 68% | view |
| Rhode Island | 5040 | $5.14 | 73% | view |
| Oklahoma | 5040 | $5.27 | 77% | view |
| Hawaii | 5040 | $6.70 | 82% | view |
| New Jersey | 5040 | $9.66 | 86% | view |
| California | 5040 | $10.72 | 91% | view |
| New York | 5040 | $12.56 | 95% | view |
| Illinois | 5040 | $12.83 | 100% | view |
Bottom quartile (cheap) Mid Top quartile (expensive)
FAQs about NCCI 5040
What occupation is NCCI class code 5040?
Class code 5040 is "Iron & Steel Erection" (also known as Steel Erector, Structural Steel Installation), in the construction industry. The code is filed in 22 states.
What is the average workers comp rate for code 5040?
The median rate across 22 states is $4.10 per $100 of payroll, ranging from $0.930 (Utah) to $12.83 (Illinois).
Why does code 5040 cost more in some states than others?
Workers comp rates reflect each state's loss experience for that occupation, the rating bureau's methodology (NCCI vs. independent), schedule rating credits, and the state's medical-cost inflation. Some states are monopolistic (only the state fund writes coverage) while others are open competitive markets.