CO Workers Comp
Class Codes (By Number With Description)

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CO workers comp class codes are four digit numbers assigned by The National Council on Compensation Insurance (NCCI). Colorado workers compensation classification codes contain your industries injury rates & are used to determine your base premium cost.

Colorado Workers Compensation Classification Codes

CO Workers Comp Class Codes

So what are CO workers com class codes? Colorado Department of Labor and Employment uses workers compensation classification codes created by the National Council on Compensation Insurance (NCCI), an organization that according to them: "gathers data, analyzes industry trends, and provides objective insurance rate and loss cost recommendations."

According to WikipediA: The NCCI annually collects data covering more than four million workers compensation claims and two million policies. The bureau uses this information to provide:

For example, for a roofer, tree trimmer, or demolition company, the cost could be $17 per $100 in payroll, or even higher. On the other hand, the cost to cover a attorney, accountant or real estate agent could be under $0.20 per $100 of their payroll. So, for an employee that earns $40,000 a year, a blue collar contracting company could pay around $6800, where a white collar business may pay just $80. It all depends on the risk or injury associated with the code.

Workers Compensation Insurance Information

According to the Colorado Department of Labor and Employment (CDLE), workers' compensation is a type of insurance coverage that employers must provide for their employees. For employees who are injured on the job or develop occupational diseases, this insurance pays for medical expenses and partial wage replacement during periods of temporary disability. It may also provide permanent impairment benefits for those who qualify. The cost of workers' compensation insurance is paid entirely by the employer and may not be deducted from an employee's wages.

Workers' compensation benefits are based on the date of injury. Since the laws change through the years, there may be different benefits depending on when you were injured. If you are injured on the job, you should know that papers need to be filed correctly and within the right number of days. You must follow all rules and procedures or you might not get all the benefits you may be entitled to receive.

For more info including coverages and cost you can check out this article on: workers compensation insurance.

CO Workers Compensation Classification Codes List

CO workers comp class codes - some of the most searched class codes are:

... because the cost for workers comp base premiums are lower in these classes than most others.

Following is a list of the CO workers comp class codes. Both the code and class description are listed in numerical order:

Workers Comp Insurance Articles

If you are looking for more information on workers compensation: Colorado Workers Compensation For Restaurants.

Further Reading On Worker's Comp Insurance

CO Worker's Comp Insurance Quotes

Colorado Insurance

Request a Worker's Comp Insurance quote in Alamosa, Arvada, Aurora, Boulder, Brighton, Broomfield, Castle Pines North, Castle Rock, Canon City, Centennial, Colorado Springs, Commerce City, Craig, Delta, Denver, Durango, Englewood, Erie, Evans, Federal Heights, Firestone, Fort Collins, Fort Morgan, Fountain, Frederick, Fruita, Glenwood Springs, Golden, Grand Junction, Greeley, Greenwood Village, Johnstown, Lafayette, Lakewood, Littleton, Lone Tree, Longmont, Louisville, Loveland, Montrose, Northglenn, Parker, Pueblo, Rifle, Steamboat Springs, Sterling, Superior, Thornton, Trinidad, Westminster, Wheat Ridge, Windsor and all other cities in CO.

Colorado Insurance Regulations & Limits

When it comes to insurance regulations in Colorado, there are a few things that you want to be aware of. Let's take a look at the laws and rules surrounding insurance in CO.

Colorado Commercial Insurance

The most common type of business insurance is liability insurance. Commercial liability insurance is required to cover things like property damage, bodily injury, personal injury, advertising injury and legal defense and judgments. Colorado is a fault state, and businesses are not required to carry liability insurance in order to operate. There is a cap on damages that are not economic set at $468,010 with a higher limit set at $936,030 for non-economic damages in which it can be proven that the original damage amount is too low. However, these cases are rare.

Punitive damages in exemplary damages are almost unheard of in Colorado, but there is no limit on economic damages. The statute of limitations to file against types of damages is two years - or three years if the damages were sustained in a vehicle. Most experts recommend the businesses carry anywhere from $500,000 to $1 million in general liability coverage.

The only other requirements for businesses that you need to be aware of is the requirement for any business that hires hourly or wage employees to carry Worker's Compensation insurance and for those same companies to have minimum insurance coverage on their vehicles which for a vehicle used for business purposes means that you will have to purchase a commercial auto insurance policy.

CO Personal Insurance

The most common type of personal insurance is the one that everyone is required to have - auto insurance. The law requires that you have at least $25,000 per person and at least $50,000 per accident in liability insurance; as well as an additional $15,000 for property damage. These are the main regulations covering auto insurance in Colorado and they are very similar to the regulations found in most of the other states.

The only additional regulation that you need to be aware of when it comes to personal insurance has to do with life insurance. If you have life insurance, your insurance provider is required to give you a one month grace period before they can cancel your policy due to nonpayment. This protects consumers against having policies canceled due to having a late payment. This is the only regulation you should know when it comes to life insurance.


Workers Compensation Insurance Class Codes

If you are looking for state specific Workers Comp Insurance class codes, costs and information: California Workers Comp Class Codes, Colorado Workers Comp Class Codes, Delaware Workers Comp Class Codes, Florida Workers Comp Class Codes, Illinois Workers Comp Class Codes,Florida Workers Comp Class Codes, New Jersey Workers Comp Class Codes, New York Workers Comp Class Codes, Oregon Workers Comp Class Codes, Pennsylvania Workers Comp Class Codes, Texas Workers Comp Class Codes.

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