A good Experience Modification Rate is generally considered anything below a 1.00.  When you are below a 1.00 you start received discounts on your workers compensation insurance premiums.  The farther below a 1.00 the greater the discount; .95 = 5% discount, .80 = 20% discount, etc.
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How low your Experience Modification Rate can improve is limited by something called your Minimum Mod (what your Experience Modification Rate would be with zero claims).
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Another consideration is whether or not you are in an industry, like construction, where an Experience Modification Rate above a 1.00, disqualifies you from bidding.  So, any Experience Modification Rate below a 1.00 is very good as it opens doors to earn revenue.