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Worker's Compensation Rates/Classifications: Worker's compensation rates and classifications vary from occupation to occupation. Each occupation will have its own rate and class code. Premium is based off of the payroll for each classification.

Worker's Compensation Limits: Typical worker's compensation limits range from $100,000 to $1,000,000. Higher limits may be available. On a worker's compensation policy, coverage's will consist of three parts. Each accident, disease (each employee), and disease (policy limit).

Worker's Comp. Experience Modification: An experience modification is a rating that varies from company to company and is determined by the state. On certain worker's compensation policies, an insured may see an experience rating of 0.80. This means that an additional discount of 20% is given to the insured due to their experience that is typically based off of loss experience and loss ratio. If the experience modification is under 1.00, that means the risk is more preferred/experience and has a desired loss ratio.

For More Details on Worker's Compensation Insurance Coverage, Please contact a Jacob Insurance Service Agent at


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