Question 1

How much does workers' comp cost for Elevator Service/Maintenance in Colorado?

Accepted Answer

The current rate for Elevator Service/Maintenance (Class Code 5162) in Colorado is $7.34 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $3670 per year in workers' comp premium.

Question 2

Is workers' comp mandatory in Colorado?

Accepted Answer

Yes, workers' compensation insurance is mandatory in Colorado for all employers with at least one employee.

Question 3

How does Colorado's rate compare to other states?

Accepted Answer

Colorado's rate for Elevator Service/Maintenance is $7.34, which is $1.47 below the national average of $8.81 (-17%).

Question 4

What does class code 5162 cover?

Accepted Answer

Covers workers performing elevator and escalator service, maintenance, repair, and modernization.

State	Rate per $100	Difference
Colorado (current)	$7.34	—
Indiana	$6.44	-0.90
Texas	$6.77	-0.57
Virginia	$6.85	-0.49
Utah	$7.01	-0.33
Arkansas	$7.26	-0.08

Workers' Comp Rate for Elevator Service/Maintenance in Colorado (Class Code 5162)

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