Carpentry workers comp rate in Michigan
The filed workers comp rate for class code 5403 (Carpentry) in Michigan is $3.65 per $100 of payroll , effective 2024-01-01. On $500,000 of payroll, that's roughly $18,250 in base premium.
Rate per $100 $3.65
Rate type manual_rate
Authority Compensation Advisory Organization
Effective 2024-01-01
vs peers 77%
Confidence HIGH
FAQ
What is the workers comp rate for code 5403 in Michigan?
The filed workers comp loss cost / rate for NCCI class code 5403 (Carpentry) in Michigan is $3.65 per $100 of payroll, effective 2024-01-01.
How much would I pay in Michigan for code 5403 on $500,000 of payroll?
At $3.65 per $100, $500,000 of payroll yields a base premium of $18,250 before experience modifier and schedule credits. Actual cost varies by carrier and underwriting.
Where else can I see code 5403?
UT has the cheapest filed rate for code 5403 ($1.07) and NJ the highest ($16.11). Michigan sits at the 77th percentile across 22 peer states.