Best Workers' Comp Insurance in Nevada

These rates are estimates based on MoneyGeek's analysis of small businesses with two employees across 79 major industries. Actual rates vary based on your business location, industry risk factors, claims history, coverage limits and individual insurer underwriting criteria. Contact insurers directly for personalized quotes.

These rates represent small businesses with two employees across 79 major industries and focus solely on workers' comp policies. Your actual premium depends on your business location, industry, employee count, claims history, coverage limits and other factors insurers consider.

Nevada Senate Bill 317 eliminated the state's longstanding $36,000 payroll cap starting in 2026, making Nevada the only state that ever had such a cap. Workers' comp premiums calculate per $100 of payroll. The old system meant a software developer earning $120,000 and one earning $40,000 both counted as $36,000 for premium purposes. Starting in 2026, insurers use full wages to determine premiums, with the new cap tied to annual state wage calculations projected to hit $102,000. If you employ professionals, managers or skilled workers earning above $36,000, your premium calculations will include significantly more payroll, directly increasing costs even if rates stay flat.

Nevada's voluntary market loss-cost level increased 6.5% effective March 1, 2025, through NCCI Filing 124038. This rate hike stems from Policy Year 2022's unfavorable loss experience, driven by an influx of large claims and post-pandemic economic impacts. Worker wages increased substantially during the recovery period, but the old $36,000 payroll cap prevented these wage increases from being fully reflected in premium calculations. This created a mismatch between actual exposure and premium collected, forcing insurers to raise base rates across the board. Every Nevada business with workers' comp insurance faces this rate increase regardless of your individual claims history, though your experience modification rate still determines your final premium above this new baseline.

Nevada allows insurance companies to apply credits and debits up to 25% on filed rates based on your safety programs and risk management practices. Two identical Nevada businesses in the same classification can see a 50% cost difference—one receiving a 25% credit while another gets a 25% debit. Insurers evaluate your documented safety training, written policies, claims management approach and overall risk profile to determine where you fall in this range. Businesses that invest in workplace hazard reduction and formal safety programs negotiate significantly lower premiums, while those without face premium rates or debits that increase costs substantially.

Nevada adopted heat illness prevention regulation R131-24AP in November 2024, with enforcement beginning April 29, 2025. Heat-related workplace complaints jumped from 344 in 2021 to 467 in 2024. The regulation applies to Nevada employers with more than 10 employees. Heat-related injuries drive up claim costs and frequency, directly impacting your experience modification rate and future premiums. Nevada's worker injury rate of 3.2 cases per 100 full-time workers outpaces the national average of 2.7. Businesses that fail to implement required prevention measures face higher injury rates, and Nevada OSHA increased violation penalties by 6.2%, which insurers view as red flags when underwriting your policy.

You need at least two refusals in the standard market before accessing Nevada's assigned risk pool. The assigned-risk rate level increased 6.3% effective March 1, 2025. Carriers have become more restrictive in southern Nevada around Las Vegas, particularly for construction, manufacturing and hospitality businesses. The assigned risk pool serves as the insurer of last resort with rates typically running 25% to 50% higher than voluntary market rates. If your claims history deteriorates or you operate in a high-hazard industry where carriers tighten their underwriting, you may find yourself forced into this expensive coverage option that immediately increases premiums.

Nevada requires workers' comp insurers to include reported tips when calculating wages for casino, restaurant and bar employees. Most states calculate premiums based solely on base wages, excluding tips. A casino server earning $15 hourly in base wages plus $30 in tips has $45 counted toward your premium calculations instead of just $15. Since premiums calculate per $100 of payroll, this requirement triples your premium costs for tipped employees. For Las Vegas and Reno hospitality businesses where tips often exceed base wages, this Nevada provision creates substantially higher workers' comp costs compared to similar businesses in other states.