Virginia Workers’ Compensation Insurance Rates for 2025: A Guide for Small Businesses

Virginia Workers’ Compensation Class Codes 2025

Here’s a list of the state's most common industries and the corresponding rates from one of our partner carriers:

Calculating your premium 

Once you've located the appropriate rate, calculating your premium is straightforward. Here's the formula you'll use:

(Annual Employee Payroll / $100) x Industry Rate = Your Estimated Premium

Start with your total anticipated gross annual payroll for all employees, divide that figure by $100, and then multiply by your industry rate. 

For example, if you're running a landscaping business with two workers and a combined payroll of $105,000, you'd divide that by 100, which gives you $1,050. Then, multiply this by the Virginia rate for landscapers, which is $3.63. You’ll get a ballpark figure of your workers' comp premium, which totals $3,812. 

Keep in mind: This estimate doesn't include taxes and fees. Additionally, your claims history could influence the final cost.

Watch this video to learn more about calculating your workers’ comp rate.  

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Strategies for managing your Workers' Compensation costs

Managing your Virginia workers compensation insurance rates effectively requires a proactive approach. Here are some strategies to help keep your premiums in check:

Safety Programs: 

Implement comprehensive safety training programs to reduce workplace injuries. A safer work environment not only protects your employees but also helps minimize the likelihood of claims, which can positively affect your insurance rates.

Return-to-Work Programs: 

Develop a return-to-work program to help injured employees transition back to work as soon as medically feasible. This can reduce the overall cost of claims and demonstrate to your insurance provider that you are actively managing your risk.

Regular Payroll Audits: 

Conduct regular audits of your payroll to ensure that it is accurately classified. Misclassification can lead to incorrect premium calculations, so it’s critical to regularly review and update your payroll information.

Shop Around: 

Insurance carriers can vary significantly in how they price their policies. It's wise to shop around and compare quotes from different providers to ensure you are getting the best rate for your coverage.

Consult with Professionals: 

Work with an experienced insurance agent or broker who understands the intricacies of Virginia workers’ compensation insurance rates. They can provide valuable insights, help you navigate the classification system, and find discounts or strategies to lower your premiums.

Learn more about workers compensation for businesses in Virginia on our A-Z guide on everything you need to know before you purchase a Virginia Workers' Comp Insurance Policy.

Navigating your Workers' Comp Insurance

If you need guidance or simply want to ensure you're getting the most accurate and cost-effective coverage, we're here to assist. Don't hesitate to contact us at (866) 338-8823 for personalized support, or use our instant quote tool for a quick and easy estimate of your workers' comp premium.