How Much Does Workers' Comp Cost in New York? 2026 Rates by Contractor Class Code
Contractors ask one question first: what will comp cost me? In New York the honest answer starts with a number per $100 of payroll for each trade. Here are the official 2026 figures for the trades we insure most, how an insurer turns them into your premium, and the moves that bring it down.
New York workers' comp premium starts with a loss cost per $100 of payroll for each class code, set by the New York Compensation Insurance Rating Board (NYCIRB). For policies starting on or after October 1, 2026, examples include $2.847 for electrical wiring (5190), $3.519 for plumbing (5183), $8.897 for roofing NOC (5545), $11.232 for carpentry NOC (5403) and $13.174 for masonry (5022). Your insurer multiplies that loss cost by its own filed factor, then applies your experience mod, any construction wage credit and state assessments. Loss costs fell an average of 21.9% on October 1, 2026, but each class moved differently.
This guide covers the price side. For who must carry comp, DBL and Paid Family Leave, and the forms permit offices accept, see our New York workers' compensation insurance page.
2026 loss costs for common contractor classes
These are the loss costs per $100 of payroll published by NYCIRB, effective for policies written or renewed on or after October 1, 2026. They are the starting point for every insurer's rate, not the final premium.
| Class code | Work | Loss cost per $100 of payroll |
|---|---|---|
| 8810 | Clerical office employees | $0.060 |
| 5606 | Construction executive, supervisor, superintendent or project manager | $2.243 |
| 5190 | Electrical wiring within buildings | $2.847 |
| 5536 | HVAC duct work, shop and outside | $3.111 |
| 5183 | Plumbing | $3.519 |
| 5651 | Carpentry, dwellings three stories or less | $2.712 |
| 5645 | Carpentry, detached one- or two-family dwellings | $4.126 |
| 5547 | Roofing, built-up | $3.788 |
| 5538 | Sheet metal work | $5.496 |
| 5445 | Wallboard (drywall) installation | $6.394 |
| 5474 | Painting or decorating | $8.058 |
| 5545 | Roofing, NOC | $8.897 |
| 5040 | Iron or steel erection, frame structures | $9.537 |
| 5221 | Concrete work: floors, driveways, sidewalks | $9.798 |
| 5701 | Wrecking (demolition), buildings | $11.062 |
| 5403 | Carpentry, NOC | $11.232 |
| 5022 | Masonry, NOC | $13.174 |
| 5213 | Concrete construction, NOC | $16.455 |
Source: NYCIRB Classification Digest, rating values effective October 1, 2026. New York uses its own class codes, which do not always match the codes used in other states. The right code depends on the work your employees actually do, not on the trade name of your company.
Why the spread is so wide: a dollar of carpentry NOC payroll carries almost four times the loss cost of a dollar of electrical payroll, and clerical payroll is almost free. That is why the way your payroll is split across codes matters as much as the total.
From loss cost to your premium
Loss costs only reflect expected claims. Each insurer files its own loss cost multiplier with the New York Department of Financial Services to cover expenses and profit, and then rates your policy:
Worked example (illustrative only). A carpentry contractor with $200,000 of payroll in class 5403:
- Loss cost: $200,000 ÷ 100 × $11.232 = $22,464
- If the insurer's multiplier were 1.30 and the experience mod 1.00: about $29,200 before assessments and credits
- With a 0.85 experience mod instead: about $24,800
The 1.30 multiplier is an assumption for the example. Real multipliers vary by insurer and by account, which is why the same payroll can produce very different quotes. Every policy also has a minimum premium.
What else moves the number
| Factor | What it does |
|---|---|
| Experience mod | NYCIRB compares your past claims to your class. A mod below 1.00 discounts your premium; above 1.00 adds a surcharge. |
| Construction wage credit | New York's Construction Classification Premium Adjustment Program can credit contractors that pay higher hourly wages in eligible construction classes. Since policies effective October 1, 2025, the credit is calculated from audit data rather than an advance application. |
| Payroll split | Supervisors who do not do hands-on work may qualify for 5606 and office staff for 8810 instead of the trade code, if your records support it. |
| Overtime | The extra premium portion of overtime pay is generally excluded from payroll when your records show it separately. |
| Subcontractors | Payments to subs who cannot prove their own coverage are usually added to your payroll at audit, in the sub's class. |
| State assessments | New York adds Workers' Compensation Board assessments to the premium. |
What the October 2026 decrease means for you
New York approved an average 21.9% decrease in loss costs for policies written or renewed on or after October 1, 2026. It is a statewide average across every class, so your codes may drop more, less, or not at all, and an insurer can change its multiplier at the same time. Compare your renewal class by class, not just the bottom line. More in the October 2026 rate decrease explained.
Six ways contractors lower New York comp cost
- Check every class code against the work each employee actually does
- Split payroll correctly between field trades, supervisors (5606) and clerical (8810), with records to back it up
- Separate overtime premium pay in your payroll reports
- Collect certificates from every sub before they start, so they are not added at audit
- Bring your mod down: report claims fast, use return-to-work, and keep safety records
- Pay as you go through payroll to avoid a large deposit and a surprise audit bill
Comp is only part of a New York contractor's cost. For general liability and the Labor Law side, see contractor insurance cost in New York and our NY Labor Law insurance page.
Fastest way to a quote: email your current policy (dec page and all endorsements), payroll by class code and 5 years of loss runs to adolfo@nextguardinsurance.com. One complete submission moves faster than ten phone calls.
Want your real number?
Send your payroll by class code (or by trade and job title), your current policy and five years of loss runs. We quote comp, DBL and PFL together and check your classifications for free. Quote in 48 hours once your submission is complete.
Request a comp quote → Email my documents WhatsApp →Watch: NextGuard on YouTube
Short explainers on contractor, trucking and commercial insurance in Florida and New York, in English and Spanish.
Frequently Asked Questions
How much does workers' comp cost for a contractor in New York?
It depends on your class codes and payroll. For policies starting on or after October 1, 2026, NYCIRB loss costs per $100 of payroll include $2.847 for electrical wiring (5190), $3.519 for plumbing (5183), $8.897 for roofing NOC (5545), $11.232 for carpentry NOC (5403) and $13.174 for masonry NOC (5022). Insurers multiply these by their own factor and apply your experience mod and state assessments to reach the premium.
What is a loss cost in New York workers' comp?
A loss cost is the part of the rate that covers expected claims, published per $100 of payroll for each class code by the New York Compensation Insurance Rating Board. Insurers add their own loss cost multiplier, filed with the Department of Financial Services, to cover expenses and profit.
Did New York workers' comp rates go down in 2026?
Yes. Loss costs dropped an average of 21.9% for policies written or renewed on or after October 1, 2026. It is a statewide average, so individual class codes moved by different amounts.
What is the workers' comp rate for roofing in New York?
For policies starting on or after October 1, 2026, the NYCIRB loss cost is $8.897 per $100 of payroll for roofing NOC (class 5545) and $3.788 for built-up roofing (class 5547). Your premium will be higher once the insurer's multiplier, your experience mod and assessments are applied.
Why is carpentry so expensive for workers' comp in New York?
Carpentry NOC (class 5403) carries a loss cost of $11.232 per $100 of payroll for policies starting on or after October 1, 2026, because of the frequency and severity of injuries in that work. Residential carpentry on smaller dwellings uses lower-cost codes such as 5645 and 5651, if the work qualifies.
How can I lower my workers' comp premium in New York?
Make sure each employee is in the right class code, separate supervisor and clerical payroll where your records support it, report overtime premium pay separately, collect certificates from every subcontractor, work on your experience mod, and ask whether you qualify for the construction wage credit.
Worked with us? Tell other contractors.
Reviews help New York contractors find a broker who reads the endorsements. It takes a minute.
Google Leave a review