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Workers' Compensation Insurance

Class Code 3507

Construction or Agricultural Machinery Manufacturing

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Martin Summers

Insurance Agent

Class code 3507 is used for employees that work within a facility that manufactures construction or agricultural machinery. Products commonly found in this classification include, but are not limited to, mowing machines, hay loaders, potato planters, reapers, binders, sidewalk cleaners and sweepers, sewer pumping station equipment, packing case equipment, hydraulic bailing presses, pile driving equipment, pneumatic unloaders, pollution and dust control systems, water screen baskets, pulp and paper mills, overhead cranes and tractors, and other similar heavy machinery. Equipment used by employees working under this class code will vary by location, but may include such things as welding and machine shop apparatuses like shears, punch presses, turrets, and engine lathes, drill presses, milling machines, grinders, boring mills, and gear shapers.

Operations that are similar in nature but that should be classified separately are agricultural tool manufacturing companies, facilities considered machine shops, and operations that perform machinery or equipment erection.

Florida Rates for Class Code 3507

2014 Rate: $4.30
2013 Rate: $5.58

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 3507, this rate change resulted in a 29.8% decrease from 2013 to 2014. The 2014 rate for this classification is 4.30 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 55.1% below the 2003 rate of 12.43 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.

Other Related Class Codes

  • 3126 for tool manufacturing – agricultural, construction, logging, mining, oil, or artesian well
  • 3632 for machine shops, NOC
  • 3724 for machinery or equipment erection

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