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Workers' Compensation Insurance

Class Code 5020

Ceiling Installation – Suspended Acoustical Grid Type

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Martin Summers

Insurance Agent

Class code 5020 is used for employees that perform ceiling installation of a suspended acoustical grid type. Job duties will include such things as attaching hang wires to ceilings using screws or clips, securing metal “T” bars to the wires, snapping or connecting the “T” bars together to form the grid system, and placing acoustical tiles within the grid to finish the ceiling. Commonly used equipment and tools within this classification include pliers, hammers, levels, metal cutting scissors, and hacksaws. When classifying workers to this class code, it is also important to follow the extra-territorial classification guidelines for each worker to ensure that they are properly classified.

Florida Rates for Class Code 5020

2014 Rate: $13.30
2013 Rate: $12.36

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 5020, this rate change resulted in a 7.6% increase from 2013 to 2014. The 2014 rate for this classification is 13.30 dollars for every 100 dollars of remuneration. Even with the increase in rates this year, the 2014 rate is still 17.2% below the 2003 rate of 14.92 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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