Workmans comp rates

Discussion in 'Business Operations' started by lawnman_scott, Jun 14, 2005.

  1. lawnman_scott

    lawnman_scott LawnSite Fanatic
    Posts: 7,547

    What rate do you pay for workmans comp ins? I think we are paying 8.24, or 8.76. Interested to see what others are paying in other parts of the country.
     
  2. grassmanvt

    grassmanvt LawnSite Senior Member
    Posts: 906

    Last I checked I think I was at 11.5%. I have to renew my policy shortly so I'll know for sure soon.
     
  3. lawnman_scott

    lawnman_scott LawnSite Fanatic
    Posts: 7,547

    How odd, 34 "professionals" have veiwed the thread and only 1 reply. Could it be that some say the do, but dont acutally have.........................
     
  4. CuttingCrew

    CuttingCrew LawnSite Member
    Posts: 193

    Most of us are Sole Proprietors. No employees means no Workman's comp.

    Mike
     
  5. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    In NJ, there is a "landscaping" rate and a "lawn mowing" rate. Mowing is $4 and change per 100 and landscaping is around $11 or $12. Since 72% of my company's revenue is derived from mowing, I am allowed to select the mowing rate and save a ton of $$$.

    Suggest you call your agent and see if you can do the same....my broker is the one who brought it to my attention btw.
     
  6. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    $4.85 per $100. this is with 95% grasscutting, and 5% landscaping.
     
  7. wriken

    wriken LawnSite Silver Member
    Posts: 2,154

    $4.19 per $100.00.
     
  8. Brother1

    Brother1 LawnSite Member
    Posts: 37

    Here in NY it's 9.34 per 100 plus a NYS assessment charge. We had our payroll audit for April 04 thru March 05 and just got our new bill. Total due is over $25,000. Part is for last year what we underpaid and than the balance is for this years policy. They want $16,000 now and than two payments of almost $5,000 before the end of the year. Not sure what we are going to do since we don't have that kinda $$ laying around. Immediately started reviewing financials and am in the process of downsizing.
     
  9. Fantasy Lawns

    Fantasy Lawns LawnSite Bronze Member
    Posts: 1,913

    Here on the east coast we pay 8.76 per $100 & than have a further "Experience Mod Factor of 0.94

    Soooo on say a $1000 pay roll is $82.34 for W/C which works out to 8.234 %
     
  10. grassmanvt

    grassmanvt LawnSite Senior Member
    Posts: 906

    I'm glad someone asked this as it seems I'm paying a higher rate than many of you and I do mostly mowing as well. I wonder if this is largely dependent on the insurance company or if it is more dependant on the state you are in.
     

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