workmans comp

Discussion in 'Lawn Mowing' started by HOMER, Mar 15, 2000.

  1. HOMER

    HOMER LawnSite Gold Member
    Posts: 3,183

    I got a quote from my ins. co. the other day on w/c ins. My quote was as follows:<p>190.00 a yr expense constant? flat fee<br>120.00 a yr membership fee<br>4.11 per 100.00 in payroll<br>265.00 deposit + monthly charges<p>How does this stack up against other policies?<p>homer
     
  2. Lazer

    Lazer LawnSite Bronze Member
    Posts: 1,446

    Do you at least get invited to stay in the guest house at his summer home?<p>We pay 1.92 per $100 payroll.<p>No expense constant.<br>No membership fees.<br>
     
  3. Millertime34

    Millertime34 LawnSite Member
    Posts: 38

    What is your insurance company? I'd like that rate. My company charges me 670 for first 12,000, then 5.76/100 after that. What a rip-off!<p>----------<br>Bryan..Heartland Lawn Care<br>heartlandlawn@hotmail.com
     
  4. HOMER

    HOMER LawnSite Gold Member
    Posts: 3,183

    IS W/C A STATE SET RATE? OR CAN YOU &quot;SHOP AROUND&quot; TO GET BETTER QUOTES? i AM QUOTING THE SAME CO. THAT CARRIES MY GENERAL LIABILITY.<p>HOMER
     
  5. GroundKprs

    GroundKprs LawnSite Bronze Member
    Posts: 1,969

    Worker's comp, (if you call it workmens comp in front of a radical feminist, Homer, look out!) is a policy whose coverage and rates vary by state. The coverage amounts are set by each state, and rates are basically set by state history- experience of insurers within each state over last few years. <p>You should get the same quote for coverage from each insurer you ask. But this insurer's rate for the state next to you may be radically different. Lazer is in MI @ 1.92/$100, for us in IN, it's now 2.63/$100. Expense constants, membership fees, minimums, and other items are state - not company - specific.<p>What you have to be most careful of is what category you are placed in. This has the greatest effect on rate. When we first started workers comp, the underwriter insisted on putting us in same category as tree service, one of the highest rates. Argued for a year & 1/2, finally got right category and large refund. I believe the category code number is still universal, but the category name may vary. In IN, code# is 9102, &quot;Lawn maintenance, commercial or domestic & drivers&quot;.<p>Really sounds like Millertime is in wrong category. But if you do tree work, that is charged at a higher rate - different category #.<p>----------<br>Jim<br>North central Indiana<p><br>
     
  6. Lazer

    Lazer LawnSite Bronze Member
    Posts: 1,446

    HOMER-<p>I just got my new policy today:<br>I DO have an expense constant: $160.00<p>My rates went up to $2.03, but if I have a safety manual on file, I can get a lower rate. My agent is going to file for a 20% reduction based on my claim experience, he said we should be able 10% off the renewal quote.
     
  7. HOMER

    HOMER LawnSite Gold Member
    Posts: 3,183

    It's still a lot cheaper! Is the safety manual one that has to be created by you or is there a standard issue, this was not mentioned to me. <p>GroundsKpr, that is the category they put me in.......the landscape cat. was a whopping $14.?? per $100.00!!! Too rich for my blood.<p>Thanks for the answers, I know a little more today than I did yeasterday!<p>I am checking into the insurance because a bid I am working on requires it. I called and asked the property mgr. that I didn't have any full time employees but that didn't change the fact that I had to have it in order to get the contract.<br>Alabama law requires you to have it if you have 4 or more employees, I don't so I just jacked the bid up to compensate.<p>Homer
     
  8. OBRYANMAINT

    OBRYANMAINT LawnSite Senior Member
    Posts: 555

    5% OF PAY ROLL HERE IN OHIO,OTHER POST IS CORRECT MAKE SURE YOU ARE IN THE CORRECT CATEGORY IT IS THE SAME # HERE IN OH (9102)<p>DOUG
     
  9. Lazer

    Lazer LawnSite Bronze Member
    Posts: 1,446

    Must be universal; my Lawn Maintenance code is 9102 as well.
     
  10. john boylan

    john boylan LawnSite Member
    Posts: 13

    Homer, I'm in N. Alabama, insurance companies are quoting $750 annual minimum, $8 per $100 of wages. Don't know about expense constants, membership fees, etc.
     

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