Inspection of Risks for Insurance or Valuation
Florida Workers' Compensation Class Code 8720 • FWCJUA / NCCI • Effective 2025-01-01
Current Rate
$0.95
per $100 of payroll
FWCJUA / NCCI 2025-01-01
What is Class Code 8720?
Class code 8720 covers inspection of risks for insurance or valuation purposes, including insurance inspectors, property appraisers, and risk assessors who visit properties to evaluate conditions. Work involves driving to properties, conducting exterior and interior inspections, and preparing reports. Hazards include motor vehicle accidents, slip-and-fall injuries at inspection properties, and dog bites.
Who is Covered Under This Code?
Insurance inspectors, property appraisers, and risk assessors.
Tips to Reduce Your Premium
- MVR checks are required for inspection staff who drive extensively
- Dog bite prevention protocols are important for property inspectors
- Separate clerical and office staff under code 8810
Frequently Asked Questions
What is workers comp class code 8720?
Class code 8720 covers inspection of risks for insurance or valuation purposes, including insurance inspectors, property appraisers, and risk assessors who visit properties to evaluate conditions. Work involves driving to properties, conducting exterior and interior inspections, and preparing reports. Hazards include motor vehicle accidents, slip-and-fall injuries at inspection properties, and dog bites.
What is the workers comp rate for class code 8720 in Florida?
The current workers' compensation rate for class code 8720 in Florida is $0.95 per $100 of payroll, as set by FWCJUA / NCCI effective 2025-01-01. Your actual premium will also depend on your experience modification factor (EMR) and the carrier you choose.
Who is covered under class code 8720?
Insurance inspectors, property appraisers, and risk assessors.
How can I reduce my workers comp premium for class code 8720 in Florida?
MVR checks are required for inspection staff who drive extensively Dog bite prevention protocols are important for property inspectors Separate clerical and office staff under code 8810
Do I need workers comp insurance for employees classified under code 8720 in Florida?
Yes. Florida requires most employers to carry workers' compensation insurance for their employees. Class code 8720 employees must be covered. Penalties for non-compliance in Florida can be severe, including stop-work orders and fines. Contact Bright Coast Insurance at (239) 228-8029 for a fast, competitive quote.
Rates shown are advisory loss costs or assigned risk rates as of the effective date listed. Your actual workers' compensation premium will depend on your specific payroll, experience modification factor (EMR), carrier selection, and other underwriting factors. Contact Bright Coast Insurance for an accurate quote tailored to your business.
Premium Estimator
Enter your annual payroll to estimate your base premium for code 8720 in FL.
Quick Facts
- Class Code
- 8720
- State
- Florida
- Rate per $100
- $0.95
- Rating Org
- FWCJUA / NCCI
- Effective
- 2025-01-01
Related Class Codes
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