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Workers’ comp insurance cost for carpenters in New York
Published 2026-06-11 · by Brokly
- 80% of NY carpentry contractors have <5 employees — the chart below prices every size band from its own observed payroll.
- New York sits 5th of 51: MN pays more ($10.11), RI less ($6.61).
- Workers’ comp is one of several coverages — see everything your carpentry shop needs in New York →
What do New York carpentry contractors pay for workers’ comp?
Modeled annual premium across the real size distribution of NY carpentry contractors
bar height = how many carpentry contractors are that size · figures = modeled annual cost
Cohort: size distribution of 2,675 NY carpentry contractors (Census CBP 2023); premiums modeled from one filed rate ($8.28/$100 payroll, 2024). Bands shown cover 2,667 of 2,675 establishments (99.7%) — 8 establishments in larger, very small-count, or data-suppressed size bands are not shown. 2023 payroll dollars, not inflation-adjusted. Illustrative benchmark — not a quote or coverage recommendation.
Sources: Oregon DCBS workers' compensation premium rate ranking study, June 2025 (calendar-year 2024 rates) (as of calendar year 2024, retrieved 2026-06-04) · US Census County Business Patterns 2023, state file (Finish carpentry contractors (NAICS 238350)) (as of 2023, retrieved 2026-06-05)
How does New York compare to nearby ranks?
Calculated manual rates, $ per $100 payroll, NCCI class 5437 (Carpentry — Cabinet and Trim Work), 2024. See all 51 jurisdictions →
| Rank | State | Rate / $100 payroll |
|---|---|---|
| 1 | Minnesota | $10.11 |
| 2 | New Jersey | $9.71 |
| 3 | Wisconsin | $8.67 |
| 4 | Illinois | $8.47 |
| 5 | New York | $8.28 |
| 6 | Georgia | $7.12 |
| 7 | Montana | $6.96 |
| 8 | Louisiana | $6.72 |
| 9 | Hawaii | $6.69 |
Sources: Oregon DCBS workers' compensation premium rate ranking study, June 2025 (calendar-year 2024 rates) (as of calendar year 2024, retrieved 2026-06-04)
Frequently asked questions
What does workers' comp cost carpentry contractors in New York?
Modeled from the 2024 filed manual rate of $8.28 per $100 of payroll: a <5-employee carpentry shop lands around $3.8k–$15k per year before experience mods and schedule credits.
What drives the rate up or down?
Three levers: payroll (the exposure base), claims history (the experience modifier), and schedule credits/debits the insurer applies. Finish carpentry work is NCCI class 5437 (Carpentry — Cabinet and Trim Work) — jobsite installation of cabinetry, interior trim, stairs, and millwork; framing and general carpentry (class 5403) and new-dwelling construction are rated separately.
Carpenters in nearby-ranked states: Georgia ($7.12) · Illinois ($8.47) · Wisconsin ($8.67) · New Jersey ($9.71)
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Illustrative benchmark — not a quote or coverage recommendation. Figures are modeled from public filings and Census data for 2,675 New York carpentry contractors; your premium depends on your payroll, claims history, and carrier.