Workers' Compensation Insurance

Class Code 5160

Elevator Erection or Repair

Author Information

Martin Summers

Insurance Agent

Class code 5160 is used for employees that perform elevator erection or repair work, including any incidental wiring and electrical apparatus installation that is required. For the scope of this classification, repair work is defined as “elevator or escalator parts repair away from the shop.” The manufacture of elevators or escalators, as well as the inspection of them are excluded from class code 5160 and should be separately classified. 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 5160

2014 Rate: $2.86
2013 Rate: $3.07

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 5160, this rate change resulted in a 7.3% decrease from 2013 to 2014. The 2014 rate for this classification is 2.86 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 69.5% below the 2003 rate of 10.08 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

  • 3042 for elevator or escalator manufacturing
  • 8720 for elevator or escalator inspection operations

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