workmans comp

HOMER

LawnSite Gold Member
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
 

Lazer

LawnSite Bronze Member
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>
 

Millertime34

LawnSite Member
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
 
OP
H

HOMER

LawnSite Gold Member
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
 

GroundKprs

LawnSite Bronze Member
Location
South Bend, IN
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>
 

Lazer

LawnSite Bronze Member
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.
 
OP
H

HOMER

LawnSite Gold Member
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
 

Top