2026 Marks 10th Consecutive Rate Drop for Workers’ Comp in FL

We have good news for Florida employers. At a time when most insurance rates are going up, workers’ compensation rates are dropping in 2026, for the tenth consecutive time! Following a proposal by the National Council on Compensation Insurance (NCCI) and approval by state regulators, this latest reduction reinforces Florida’s position as a competitive environment for industries ranging from accounting to construction.

Here is what Florida employers need to know about the 2026 rate drop and how it affects their bottom line:

Does My Business Need Workers’ Comp Insurance?

In Florida, Workers’ Compensation is mandatory for most employers. The requirements vary based on your industry and the number of people you employ:

Construction Industry

If you have one or more employees (including yourself), you are required to carry workers’ comp.

Non-Construction Industry

Coverage is required for companies with four or more employees (full-time or part-time).

Agriculture

Coverage is required if you have six or more regular employees or twelve or more seasonal workers.

Failure to carry required insurance can lead to “Stop-Work Orders,” hefty fines, and personal liability for medical expenses if an employee is injured on the job.

Insurance Relief by Industry

While the overall statewide average rate is dropping by 6.9%, the impact varies by industry classification. The NCCI analyzes data from various sectors to determine risk. For 2026, many of Florida’s core industries are seeing significant relief:

Construction

Often the highest-risk category, contractors will receive some of the most impactful savings. For example, roofing contractors (class code 5551) are projected to see rates fall by over 11%.

Manufacturing & Logistics

Improvements in automation and safety protocols have reduced claim frequencies, resulting in lower rates.

Office & Clerical

Already low-rated, these categories continue to see marginal decreases, keeping overhead low for professional services.

How are Workers’ Comp Insurance Premiums Calculated

Understanding how your rate is calculated can help you find ways to lower it further. Workers’ compensation premiums are based on the following three factors:

Classification Code:

Every job type has a four-digit class code with a specific rate based on its risk level.

Payroll:

Rates are applied per $100 of your annual payroll.

Experience Modifier (E-Mod):

This is your “safety score.” If your business has fewer job-related accidents than the industry average, your E-Mod will be below 1.0, and your premiums will be lower. If you have a high claim history, your E-Mod will be above 1.0, and your premium will be higher.

What Benefits Does Workers’ Comp Provide?

Workers’ Comp is a “no-fault” system designed to ensure employees receive the appropriate care for on-the-job injuries:

• Medical Treatment: Covers doctor visits, hospital stays, physical therapy, and prescriptions.
• Lost Wages: Reimburses a portion of the income lost while the employee is unable to work (up to a state-mandated maximum).
• Disability Benefits: Provides compensation for permanent impairments.
• Death Benefits: Offers financial support to the family of a worker lost in a job-related accident.
• Legal Protection: Since the state mandates workers’ comp benefits, an injured employee is typically barred from suing their employer for workplace injuries.

Your Workers’ Comp Specialists in Florida – Check Your Rate Today!

New lower workers’ comp rates are now available in Florida for 2026. Contact us today to check your rate! Commercial Insurance Specialists is a Trusted Choice independent agency that offers workers’ comp insurance and other commercial policies from leading carriers at competitive rates. See why we’re the preferred choice for general contractors, electricians, plumbers, and other businesses from Bradenton to Tampa, including Dade City, Zephyrhills, Safety Harbor, and Riverview, Florida.

Start the new year with lower premiums. Contact CIS today for a free, no-obligation workers’ compensation insurance quote and see how much the 2026 rate drop can save your business!