Iron & Steel Erection workers comp rate in Michigan
The filed workers comp rate for class code 5040 (Iron & Steel Erection) in Michigan is $4.23 per $100 of payroll , effective 2024-01-01. On $500,000 of payroll, that's roughly $21,150 in base premium.
Rate per $100 $4.23
Rate type manual_rate
Authority Compensation Advisory Organization
Effective 2024-01-01
vs peers 59%
Confidence HIGH
FAQ
What is the workers comp rate for code 5040 in Michigan?
The filed workers comp loss cost / rate for NCCI class code 5040 (Iron & Steel Erection) in Michigan is $4.23 per $100 of payroll, effective 2024-01-01.
How much would I pay in Michigan for code 5040 on $500,000 of payroll?
At $4.23 per $100, $500,000 of payroll yields a base premium of $21,150 before experience modifier and schedule credits. Actual cost varies by carrier and underwriting.
Where else can I see code 5040?
UT has the cheapest filed rate for code 5040 ($0.930) and IL the highest ($12.83). Michigan sits at the 59th percentile across 22 peer states.