Indiana rates through its own bureau — the Indiana Compensation Rating Bureau (ICRB) — which files advisory rates (not just loss costs) by class code with the Department of Insurance, and posts the filings publicly. Indiana is consistently one of the least expensive workers’ comp states in America.

The current rate environment in Indiana

The Department of Insurance approved a 5.8% decrease in overall advisory rate level effective January 1, 2026 (ICRB Circular 2025-08) — for both voluntary and assigned-risk markets.

Indiana rates by class code (advisory rates effective January 1, 2026)

These are ICRB advisory rates from the approved January 1, 2026 filing — note they are full advisory rates (loss costs plus expense provisions), so they’re closer to real-world pricing than the loss-cost tables other states publish. Carriers may still deviate.

Class Code	Classification	Advisory rate per $100 payroll
8810	Clerical office	$0.07
8832	Physician office & clerical	$0.17
9586	Barber shop / beauty parlor	$0.19
9082	Restaurant NOC	$0.54
8017	Retail store NOC	$0.72
8380	Automobile service or repair	$1.08
9014	Janitorial services	$1.20
0042	Landscape gardening	$2.10
5645	Carpentry — residential	$2.96

Source: ICRB 1/1/2026 rate filing, effective January 1, 2026. Advisory rates before experience modification, deviations, and credits; individual carriers may file deviations from advisory levels.

What determines your Indiana premium

• Class codes — every job type carries its own rate; misclassification is the most common cause of overpayment
• Payroll — premium is calculated per $100 of payroll, by class
• Experience mod — your claims history versus similar businesses scales the whole premium up or down
• Carrier pricing — Indiana carriers may deviate from ICRB advisory rates — and dividend programs on top of already-low rates make the comparison worthwhile
• Credits and programs — safety programs, dividend plans, and pay-as-you-go options move the net cost

How to get the best rate in Indiana

The rate tables are only the starting point: the carrier you land with, the accuracy of your class codes, and how your payroll is reported decide what you actually pay. We quote Indiana businesses across a dozen A-rated markets and show you the comparison — including pay-as-you-go billing that matches premium to actual payroll. See our Indiana workers’ comp guide and Indiana forms & resources for the rest of the picture.

Indiana rate FAQs

How cheap is workers’ comp in Indiana?

Indiana is consistently among the least expensive states — clerical rates as low as $0.07 per $100 of payroll and residential carpentry at $2.96 (advisory rates effective 1/1/2026), a fraction of what neighboring states charge for the same classes.

Did Indiana workers’ comp rates decrease for 2026?

Yes — the Department of Insurance approved a 5.8% decrease in overall advisory rate level effective January 1, 2026 (ICRB Circular 2025-08).

Who needs workers’ comp coverage in Indiana?

Coverage is required from the first employee — Indiana law applies to every employer and employee, with narrow statutory exceptions. Sole proprietors and certain owners can elect exclusion; we walk through the options at quote time.