NCCI · 4 states

Workers comp rates for code 8034: Retail Jewelry Store

NCCI class code 8034 covers Retail Jewelry Store in the retail industry. The median rate across 4 states is $3.58 per $100 payroll. Rates range from $1.68 in Minnesota to $7.03 in New Jersey.

Also known as: Jeweler · Watch Repair Store

Cheapest 5 states for code 8034

  1. Minnesota $1.68
  2. Oklahoma $1.81
  3. New York $3.58
  4. New Jersey $7.03

Most expensive 5 states

  1. New Jersey $7.03
  2. New York $3.58
  3. Oklahoma $1.81
  4. Minnesota $1.68

Code 8034 rates in all 4 states

State Code Rate per $100 vs peers Source
Minnesota 8034 $1.68 25% view
Oklahoma 8034 $1.81 50% view
New York 8034 $3.58 75% view
New Jersey 8034 $7.03 100% view

Bottom quartile (cheap) Mid Top quartile (expensive)

FAQs about NCCI 8034

What occupation is NCCI class code 8034?

Class code 8034 is "Retail Jewelry Store" (also known as Jeweler, Watch Repair Store), in the retail industry. The code is filed in 4 states.

What is the average workers comp rate for code 8034?

The median rate across 4 states is $3.58 per $100 of payroll, ranging from $1.68 (Minnesota) to $7.03 (New Jersey).

Why does code 8034 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.