Iron & Steel Erection workers comp rate in Minnesota
The filed workers comp rate for class code 5040 (Iron & Steel Erection) in Minnesota is $5.01 per $100 of payroll , effective 2024-07-15. On $500,000 of payroll, that's roughly $25,050 in base premium.
Rate per $100 $5.01
Rate type pure_premium
Authority MWCIA
Effective 2024-07-15
vs peers 68%
Confidence HIGH
FAQ
What is the workers comp rate for code 5040 in Minnesota?
The filed workers comp loss cost / rate for NCCI class code 5040 (Iron & Steel Erection) in Minnesota is $5.01 per $100 of payroll, effective 2024-07-15.
How much would I pay in Minnesota for code 5040 on $500,000 of payroll?
At $5.01 per $100, $500,000 of payroll yields a base premium of $25,050 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). Minnesota sits at the 68th percentile across 22 peer states.