Class Code 5040 Rates & Quotes

Iron or Steel: Erection – Frame Structures

Class code 5040 is used for employees that erect iron or steel frame structures, including assembly and fabrication at the job site as well as incidental welding operations. Job duties will vary from job to job but may include such things as the raising of structural members or prefabricated sections into place using a crane or boom, securing these members or sections with bolts, welding or riveting the frame of buildings, erecting concrete structural beams or girders, erecting staircases, replacing old iron or steel on exterior buildings, erecting of iron or steel bridges, trusses, columns, I-beams, and decking, erecting iron or steel radio, television, or water towers, and erecting spherical steel tanks mounted on steel supporting structures. Additionally, the erection of items like fire escapes, fireproof shutters, and steel balconies are also included in the scope of class code 5040.

Exclusions to this class code would include the placing of reinforcing steel bars in connection with any reinforced concrete bridge constructions and the erection of water towers that are made of materials other than iron or steel. 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 5040

2022 Rate Get Quote: Click Here

2021 Rate: Click Here

2020 Rate: $11.04

2019 Rate: $12.52

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 are adjusted annually by the Florida Office of Insurance Regulation.

The 2020 rate for class code 5040 is 11.04 dollars for every 100 dollars of remuneration.

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

*This description of class code 5040 is a summary of the official description from NCCI that should be used for determining the correct application of a classification code for a Florida business and the groups of employees in that business. This short summary is provided as a courtesy for assisting FloridaWC's clients and potential clients in educating them about the most commonly used class codes in Florida that could be applied to their business operations. For more information about a class code, please use the contact form links below to request the official class codes descriptions from one of our insurance agents.