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Whats the average cost for worker's comp.

Discussion in 'Business Operations' started by nobagger, Jan 29, 2006.

  1. nobagger

    nobagger LawnSite Gold Member
    from Pa
    Messages: 3,065

    for a company that is part time and grosses 25-30k a year? i am definetly hiring at least one more guy this year and I priced worker's comp. anywhere else. Any guesses?
  2. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Messages: 10,178

    4% of salary grasscutting. 11% of salary landscapeing
  3. Mower63

    Mower63 LawnSite Member
    Messages: 65

    Check your state regulations. You may not need workers comp. In Florida it is not required unless you have more than 4 employees including yourself. Also check to determine if you can exempt yourself if you do need to carry it. However you might want to consider a supplimental policy if you are not required to carry WC just to protect your company.

    We pay 8.5% of payroll for maintenance, no hardscaping, no cutting above 15' or tree work, no heavy equipment operation (e.g. skid steer).
  4. paponte

    paponte LawnSite Silver Member
    Messages: 2,366

    Most companies are based on payroll. Talk to your accountant and your ins broker. Some ins. co's will write wcs, but sometimes you need to go through the state for it. I would say Bobby's numbers are in line. :)

    DUSTYCEDAR LawnSite Fanatic
    from PA
    Messages: 5,132

    based on pay in pa and it aint cheep
    a rule of thumb for every 100 bucks u pay them it cost u 130 when all said and done with payper work and such
  6. indy2tall

    indy2tall LawnSite Senior Member
    Messages: 417

    Here in Indiana I was quoted around $750 per year which covered the first $18,000 paid to one or more employees.
  7. 6'7 330

    6'7 330 LawnSite Bronze Member
    Messages: 1,821

    In Illinois,the insurance companies can set their rates based on classifications. Most insurance companies base premiums on payroll.As somebody else posted, check your state regulations,you might not be required to carry workers comp.Even if your exempt,It might be smart to carry it, you are liable if an employee gets hurt.Your ass can be thrown into a liability meat grinder fast.
  8. fishinman22487

    fishinman22487 LawnSite Member
    Messages: 194

    Last I heard workers comp. is required in Florida... But it may be different down south where you are.
  9. Doug Z.

    Doug Z. LawnSite Member
    Messages: 93

    in Wisconsin, the state sets the rate, for me its $900.00 per $10,000.00 payroll
  10. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Messages: 10,178

    hmmm, aponte agreed with me. something is fishy for sure

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