Florida Workers' Comp Rates in 2026: What Employers Need to Know
Florida workers' compensation rates dropped 6.9% for 2026 — the ninth consecutive year of decreases. Here's what that means for your business, how rates are calculated, and how to make sure you're not overpaying.
Good News: Florida Workers' Comp Rates Dropped Again
In November 2025, Florida Insurance Commissioner Mike Yaworsky approved a 6.9% rate decrease for workers' compensation policies effective January 1, 2026. This marks the ninth consecutive year of rate decreases in Florida — a trend that's saving employers real money.
But here's the thing most business owners miss: a statewide rate decrease doesn't automatically mean your premium goes down. Your actual cost depends on your specific class codes, payroll, experience modification rate, and the carrier you're with.
Let's break down exactly how Florida workers' comp rates work in 2026 and what you can do to make sure you're paying the right amount.
How Florida Workers' Comp Rates Are Calculated
Your workers' compensation premium is based on a simple formula:
Premium = (Payroll / $100) × Class Code Rate × Experience Modification Rate (EMR)
Each piece matters:
Class Code Rates
Every job classification has a rate set by the National Council on Compensation Insurance (NCCI). These rates reflect the risk level of each type of work. Here are some common 2026 Florida class code rates:
| Class Code | Description | 2026 Rate (per $100 payroll) |
|---|---|---|
| 8810 | Office/Clerical | $0.16 |
| 8742 | Sales Outside | $0.42 |
| 5190 | Electrical Wiring | $2.36 |
| 5403 | Carpentry (Residential) | $7.78 |
| 5551 | Roofing | $10.48 |
| 9082 | Restaurant | $1.52 |
| 8869 | Daycare/Child Care | $1.45 |
| 9012 | Property Management | $0.98 |
| 5022 | Masonry | $4.72 |
As you can see, an office worker costs pennies per $100 of payroll, while a roofer costs over $10. Getting your employees classified correctly is one of the biggest ways to save money.
Experience Modification Rate (EMR)
Your EMR compares your company's claims history to the industry average. An EMR of 1.0 means you're average. Below 1.0 means fewer claims than expected (you get a discount). Above 1.0 means more claims (you pay a surcharge).
Example: A construction company with $500,000 in carpentry payroll:
- At EMR 1.0: $500,000 / 100 × $7.78 × 1.0 = $38,900/year
- At EMR 0.80: $500,000 / 100 × $7.78 × 0.80 = $31,120/year (saving $7,780)
- At EMR 1.25: $500,000 / 100 × $7.78 × 1.25 = $48,625/year (paying $9,725 more)
Why Your Premium Might Not Have Dropped 6.9%
The 6.9% decrease is an average across all class codes. Some codes dropped more, some dropped less, and a few actually increased. Plus, your premium is affected by:
- Payroll changes — If you hired more employees or gave raises, your payroll went up
- EMR changes — A new claim can spike your EMR for three years
- Carrier pricing — Different carriers apply different credits and debits on top of the base rate
- Misclassification — If employees are coded under the wrong class, you could be overpaying significantly
5 Ways to Lower Your Workers' Comp Costs in 2026
1. Audit Your Class Codes
Make sure every employee is classified under the correct NCCI code. We regularly find businesses paying roofing rates for employees who never go on a roof. A simple reclassification can save thousands.
2. Implement a Safety Program
Fewer claims = lower EMR = lower premiums. Document your safety training, maintain OSHA logs, and create return-to-work programs for injured employees.
3. Shop Multiple Carriers
As an independent agency, we have access to 40+ carriers. The same business can see quotes that vary by 30-40% between carriers. Never renew without shopping.
4. Consider Pay-As-You-Go
Many carriers now offer pay-as-you-go workers' comp that bases your premium on actual payroll reported each pay period. This eliminates the large upfront deposit and reduces audit surprises.
5. Review Your EMR Worksheet
Your EMR is calculated by NCCI, and errors happen. We review every client's EMR worksheet to make sure old claims have fallen off and the math is correct.
Who Needs Workers' Comp in Florida?
Florida law requires workers' compensation coverage for:
- Construction businesses with 1 or more employees (including the owner)
- Non-construction businesses with 4 or more employees
- Agricultural businesses with 6 or more regular employees or 12 or more seasonal employees
Even if you're not legally required to carry it, many contracts and clients will require proof of workers' comp before you can start work.
The Bottom Line
Florida's workers' comp market is the most competitive it's been in years. Rates are down, carriers are hungry for business, and there's real money to be saved — if you know where to look.
Don't just accept your renewal. Let us shop it. Most of our clients save 20% or more when they switch to Atesa Risk Advisors.
Get a free workers' comp quote →
Have questions about your workers' comp policy? Call us at (904) 900-5063 or request a quote online.
Ricardo Alonso
Founder, Atesa Risk Advisors
Ricardo is a RamseyTrusted insurance advisor with a Harvard ALM in Finance. He founded Atesa Risk Advisors to bring honest, independent insurance guidance to Florida businesses and individuals.