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Workers' Compensation Insurance

Class Code 3634

Valve Manufacturing

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Martin Summers

Insurance Agent

Class code 3634 is used for employees that work for a facility that manufactures all types of valves, automatic sprinkler heads, and/or water meters. Generally speaking, these products are made with pig iron, scrap iron or brass, alloys of copper, brass and bronze ingots, iron or brass castings and forgings, brass, copper, or stainless steel sheets, bars and tubings, plastics and plastic fittings, gauges, bolts, nuts, and screws, received from others. It is also very common for the products to be finished with a plating solution or paint as well. Processes for making these products may include pattern and mold making, casting of molten metals, machining operations to turn, shape, drill, mill, tap, bore, and thread, assembling of parts and castings, buffing and polishing, and plating and painting. Finally, products will usually be tested and inspected as well.

Florida Rates for Class Code 3634

2014 Rate: $2.00
2013 Rate: $2.13

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 3634, this rate change resulted in a 6.5% decrease from 2013 to 2014. The 2014 rate for this classification is 2.00 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 65.5% below the 2003 rate of 6.17 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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