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Workers' Compensation Insurance

Class Code 3145

Screw Manufacturing

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Martin Summers

Insurance Agent

Class code 3145 is used for employees that work in a manufacturing facility producing screws. Products included would be wood or machine screws that are automatically turned. Materials used, as a general practice, would include steel or brass wire, received from others. This wire stock would be received by the manufacturer, and then fed automatically into machines that are responsible for the cutting off, tapering, shaving, threading, and slotting to form the final product. From here, screws have to be placed into extractors which assist in removing any oil or dirt that accumulated as part of the machining portion of the process. Screws may also need to be mechanically plated and buffed, depending on the design.

Other products that are of a similar manufacturing process and that are made using automatic screw machines may also be included. While the raw materials of these other products may vary, the actual operations remain relatively the same. Machine shops that use automatic screw machines to produce parts to be included in a more complex final product are excluded from this classification.

Florida Rates for Class Code 3145

2014 Rate: $2.73
2013 Rate: $3.09

Each workers' compensation class code in Florida has a unique rate assigned to it based on the likelihood of workplace injuries for the group of employees throughout the state that are assigned to that class code. Click this link for more information about the ratemaking process. The rates used in Florida workers comp insurance were increased in 2014 by an average of 6.1% by the Florida Office of Insurance Regulation.

For class code 3145, this rate change resulted in a 13.2% decrease from 2013 to 2014. The 2014 rate for this classification is 2.73 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 50.2% below the 2003 rate of 6.20 dollars.

Despite the manual rates being set by the Florida government for workers comp class codes, there are still ways that employers can lower their overall workers compensation costs and total premium. Our insurance agents would like the opportunity to discuss these premium discounts and other cost savings measures with your business. Contact us today to receive competitive quotes for your business.

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