The following rates are being provided to assist you in deciding if you wish to carry Workers’ Compensation Insurance through the Farmers Insurance Pool.
2008 POLICY YEAR
(Rates per $100 of Payroll)
The Special Compensation Fund Assessment is itemized
separately from the rate. Please call for an exact quote!
| CLASSIFICATION |
CODE |
POOL RATES |
| General Farm Labor |
0006 |
$ 6.27 |
| Hand Cultivation |
0008 |
$ 4.70 |
| Machine Shop |
3632 |
$ 3.77 |
| Clerical Office Employees |
8810 |
$ 0.23 |
Please Contact the Pool Office for Quotes on Other Classifications
Applicable to Your Operation |
All policies include Employers' Liability Insurance coverage with $1,000,000 limits.
Your policy will also include a standard fee for the Expense Constant and Terrorism Risk Insurance Act; and, if eligible for an Experience Modification (E-mod), a surcharge or credit will be applied to the policy as determined by the State Bureau of Workers' Compensation for each policyholder.
Please call Brenda or Janell for further information regarding the Pool's workers' compensation insurance program.
(Rates are subject to change without notice)
In Minnesota, workers compensation insurance is compulsory when your agriculture payroll exceeds $42,016 annually, but optional when under $8,000 in payroll. Purchasing a farm liability policy of $300,000 AND medical pay of $5,000 (both must be on the farm liability policy) precludes buying workers compensation insurance in Minnesota for payrolls between $8,000 to $42,016. Please check with your agent if you wish to be covered under your farm liability policy.
The Pool’s Policy Year runs from December 31 to December 31. The Pool does have a minimum premium charge. For example; the 0006 and 0008 classification codes would be $558 and $458 respectively, with a higher premium charge prevailing when payroll is reported under both classifications.
DISCLAIMER NOTICE
The information contained on this Web site is presented in summary form only and intended to provide broad insurance information. The information should not be considered complete and should not be used in place of a consultation or advice of your insurance professional. Information obtained from this Web site is not exhaustive and does not cover all insurance issues. Should you have individual insurance questions, please feel free to contact the professionals at the Farmer’s Insurance Pool.