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Workers' Compensation Insurance

Class Code 5508

Street or Road Construction: Rock Excavation

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Martin Summers

Insurance Agent

Class code 5508 is used for employees that perform mass rock excavation work from the right-of-way or that operate a temporary quarry and crusher for road builders as part of a road or street construction project. Work may include such things as blasting to remove rock as well as incidental quarrying and crushing of rock to be used in street or road sub surfaces. Exclusions to class code 5508 includes those workers who provide right-of-way clearing, earth excavation, and grading or filling work, as well as anyone who engages in tunneling or bridge and culvert operations. 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 5508

2014 Rate: $16.32
2013 Rate: $20.80

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 5508, this rate change resulted in a 27.5% decrease from 2013 to 2014. The 2014 rate for this classification is 16.32 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 10.1% below the 2003 rate of 23.13 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

  • 5507 for street or road construction – subsurface work

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