Virginia is an NCCI loss-cost state: NCCI files advisory loss costs with the State Corporation Commission’s Bureau of Insurance, and carriers convert them to rates with their own filed multipliers. The published loss cost pages are public through the SCC, and the trend line is one of the friendliest in the country.

The current rate environment in Virginia

Virginia’s streak continues: a 7.7% decrease to voluntary loss costs and assigned-risk rates took effect April 1, 2026, following a 12% decrease the year before — the sixth consecutive annual decline. Employers who haven’t re-shopped in two or three renewal cycles are often priced well above the current market.

Where to find official Virginia rate data

The SCC Bureau of Insurance posts NCCI’s Virginia loss cost pages publicly (the current edition is available from the SCC’s workers’ compensation filings section). These per-class values are advisory loss costs — your quote reflects a carrier multiplier, your experience mod, and credits, which is where a multi-carrier comparison earns its keep.

What determines your Virginia 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 — carriers file multipliers over NCCI loss costs; with loss costs down nearly 20% across two years, carrier repricing speed varies widely
• Credits and programs — safety programs, dividend plans, and pay-as-you-go options move the net cost

How to get the best rate in Virginia

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 Virginia 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 Virginia workers’ comp guide and Virginia forms & resources for the rest of the picture.

Virginia rate FAQs

Did Virginia workers’ comp rates decrease for 2026?

Yes — voluntary-market loss costs and assigned-risk rates decreased 7.7% effective April 1, 2026, Virginia’s sixth consecutive annual decline, following a 12% cut in 2025.

Who sets workers’ comp rates in Virginia?

NCCI files advisory loss costs with the SCC Bureau of Insurance; carriers apply their own filed multipliers to produce rates. The same class can be priced quite differently across carriers.

How many employees require workers’ comp coverage in Virginia?

Virginia generally requires coverage when a business regularly has more than two part-time or full-time employees — and contractors should count subcontractor workers toward the threshold. We confirm your situation when we quote.