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Workers' Compensation Insurance

Class Code 8010

Store: Hardware

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Martin Summers

Insurance Agent

Class code 8010 is used for employees that work for a retail or wholesale hardware store. Basic operations will be the stocking, pricing, and selling of goods such as nails, bolts, screws, brackets, locks, plugs, washers, gaskets, hinges, electrical outlet boxes, fuses, switches, sockets, hand or machine tools, portable electric tools, plumbing fittings, garden tools, and other hardware related supplies and equipment. Non hardware items may also be sold and may include such things as paint, kitchenware, sporting goods, or auto accessories and parts. Rental operations done as part of the hardware store business are also included within this classification. In addition, locksmiths operating a retail store and stores that sell, rent, and repair bicycles are also included.

Operations that are similar, but that should be excluded and classified separately include retail stores whose primary merchandise is sporting goods, paint, kitchenware, china and glassware, automobile accessories, plumbing supplies, fixtures, and equipment, and major household electrical appliances or furniture.

Florida Rates for Class Code 8010

2014 Rate: $2.24
2013 Rate: $2.39

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 8010, this rate change resulted in a 6.7% decrease from 2013 to 2014. The 2014 rate for this classification is 2.24 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 50% below the 2003 rate of 4.78 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

  • 8017 for retail stores, NOC
  • 8046 for automobile accessories stores – retail
  • 8111 for plumbers’ supplies
  • 8018 for welding supplies stores – wholesale – NOC
  • 8044 for furniture and household appliance stores

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