Parking Garage/Lot workers comp rate in Michigan
The filed workers comp rate for class code 7540 (Parking Garage/Lot) in Michigan is $1.38 per $100 of payroll , effective 2024-01-01. On $500,000 of payroll, that's roughly $6,900 in base premium.
Rate per $100 $1.38
Rate type manual_rate
Authority Compensation Advisory Organization
Effective 2024-01-01
vs peers 28%
Confidence HIGH
FAQ
What is the workers comp rate for code 7540 in Michigan?
The filed workers comp loss cost / rate for NCCI class code 7540 (Parking Garage/Lot) in Michigan is $1.38 per $100 of payroll, effective 2024-01-01.
How much would I pay in Michigan for code 7540 on $500,000 of payroll?
At $1.38 per $100, $500,000 of payroll yields a base premium of $6,900 before experience modifier and schedule credits. Actual cost varies by carrier and underwriting.
Where else can I see code 7540?
UT has the cheapest filed rate for code 7540 ($0.460) and IL the highest ($3.66). Michigan sits at the 28th percentile across 18 peer states.