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What are you paying for workers comp insurance?

Discussion in 'Business Fundamentals' started by Mick76, Feb 4, 2011.

  1. Mick76

    Mick76 2000 Club Member
    from Maine
    Messages: 2,157

    The reason i ask, is that memic just doubled my rate... i was at $6 per $100... now they want $13 per $100...... no claims..... they state its due to a "classifacation change"...bs.... I've got drivers that sit in a nice heated truck or loader/skid and I've got shovelers that shovel every 2inches .... pretty easy jobs and low risk to memic.... whats your thoughts?
  2. gsphunter

    gsphunter Junior Member
    Messages: 20

    Pretty sure I'm at $9 something / hundred. It's my highest classification. Pretty amazing when you figure most of the time guys are just sitting in a truck. Seems like running a mower would be more hazardous.
  3. Mick76

    Mick76 2000 Club Member
    from Maine
    Messages: 2,157

    come on all..... am I getting the shaft here or did I get a super good deal and the classification change is legit?
  4. rcn971

    rcn971 Senior Member
    Messages: 213

    Workers comp rate is set by the state so just look it up on your states website.
  5. wizardsr

    wizardsr PlowSite.com Addict
    Messages: 1,584

    Every state is different, but here in MN, I use 2 different classifications. One is for shovelers, which is at $6.93 per $100, the other is for drivers which is at $13.80 per $100. Chances are, you had them classified incorrectly previously, and they corrected it, resulting in the higher amount. I've tried to split hairs with MN with no success, they won't let me differentiate the same employee doing both tasks, they just go with the higher rate. Differentiating employees though is easy, just have to tell them which employees fall under which class codes based on their job function.
  6. Plow Babe

    Plow Babe Senior Member
    Messages: 218

    Our W/C rate for plowing is 4.3%.
  7. blk90s13

    blk90s13 PlowSite.com Addict
    Messages: 1,157

    7% here in the great garden state
  8. Mick76

    Mick76 2000 Club Member
    from Maine
    Messages: 2,157

    Theres a few companies I've checked into here....... one was 13%, one was 11% and the third was 9%.... I gues the classification change is correct but they have it now as a 9402 instead of a 9102... this is for "street plowing".... I argued with the rep that I do not plow streets!... she stated it "doesn't matter" this is the classification for all plowing..... I told them thats a bunch of crap... theres SO MUCH MORE LIABILITY when your plowing street as opposed to lots, but she stated this it what plowing is classified as now.......
  9. wizardsr

    wizardsr PlowSite.com Addict
    Messages: 1,584

    Yep, it's all about the almighty dollar. They'll always default to the higher rate to get more money out of you, same crap I've been fighting with. Doesn't make much sense as there seems to be far more risk of injury for a sidewalk guy falling on ice, unclogging a blower, screwing up a back lifting heavy snow, etc, than a guy operating a plow truck or loader... :rolleyes:
  10. PTSolutions

    PTSolutions PlowSite.com Addict
    Messages: 1,537

    jeez im lucky i just excluded myself and the guys are 1099'd, dont worry its their own trucks.
  11. Advantage

    Advantage Senior Member
    Messages: 766

    A couple years ago our "wonderful" state bumped up all our field employees from 3.33% to 9%. An enormous increase and blow to our bottom line. They refuse to differentiate employees.
  12. bsuds

    bsuds Senior Member
    Messages: 192

    I'm in Golden and my agent is not able to write a workmans comp policy. Do you have anyone you recommend?
  13. Camden

    Camden PlowSite Fanatic
    Messages: 6,604

    Have you ever heard of Bank of the West? They have a branch in Golden and they have an insurance agency inside. I use them here in MN and they treat me really well.

    Here's their # 303-202-5533

    And here's their address:

    701 13th Street
    Golden, CO 80401
  14. T-MAN

    T-MAN PlowSite.com Addict
    Messages: 1,363

    Comp rates are set by the state. Each year they can change (up or down) based on the "losses" incurred by the insurance company's. The only way to lower the rate, is with your experience rating, based on at least 5 years of comp. Not all states allow this, but it can lower your rates.
  15. IreneS

    IreneS Junior Member
    from US
    Messages: 5

    I'm just relying on the rules of state I'm in regarding to this. Visit site of your state regarding to this.