Florida's Highest Workers' Comp Rates
Iron and steel erection carries the highest workers' comp rates of any classification in Florida. For 2026, the filed rates are:
At $15.35/100, an ironworking crew with $300,000 in annual payroll carries a $46,050 workers' comp premium at the standard rate - before any experience modifier. For steel contractors with claims history and a mod above 1.0, that number climbs fast.
Why Iron & Steel Erection Rates Are So High
At our agency, we understand the high risks ironworkers face on the job, from falls from height to being struck by heavy steel beams, crush injuries, and electrocution hazards near power lines. We've seen how a single serious claim, such as a fall from a multi-story structure, can result in devastating consequences for our clients, with medical and indemnity costs potentially reaching hundreds of thousands of dollars - a financial burden that's directly factored into the filed rates we work with.
At our agency, we recognize that the year-round construction boom in Florida creates a steady demand for ironworkers, but unfortunately, it also puts them at risk of injury or illness. As a result, we take a close look at the NCCI rate, which takes into account both claim frequency and severity data specific to Florida, to ensure our clients receive the most accurate workers' compensation coverage.
Which Code Applies to Your Work?
| Code | Description | 2026 Rate | Applies When |
|---|---|---|---|
| 5069 | Iron/Steel Erection - Frame, 2 stories & under | $15.35 | Erecting structural frames on low-rise buildings |
| 5059 | Iron/Steel Erection - 2 stories & under (other) | $10.40 | Other iron/steel work at low rise |
| 5040 | Iron/Steel Erection - Frame (taller structures) | $7.16 | Frame erection on taller commercial buildings |
Classification is determined by the type of structure and height. If you work across multiple classifications, payroll must be separated accordingly. Misclassification is a common audit finding for steel contractors.
How a PEO Changes the Math for Steel Contractors
At our agency, we've seen many steel erectors struggle to find affordable workers' comp coverage in the standard insurance market, particularly if they have a claims history. That's why we often recommend our PEO pool to our clients, as it allows us to distribute the risk across a large group of contractors, making coverage more accessible and affordable - often at rates that individual underwriters wouldn't be willing to offer on a standalone basis.
Frequently Asked Questions - Florida Ironworkers
Florida Markets We Serve
We work with ironworker contractors across Florida. Find rates and market-specific information for your area:
Related Resources
- FL Code 5069 - Iron/Steel Erection rate detail
- FL Code 5059 - Iron/Steel Erection rate detail
- Workers' comp for roofers
- Workers' comp for framers
- Full Florida workers' comp code list
- Florida workers' comp exemptions explained
- Understanding your experience mod
- PEO vs standard workers' comp policy
- Workers' comp audit guide
- Pay-as-you-go workers' comp explained
- Subcontractor certificate requirements
- Florida stop-work orders
- Florida workers' comp law overview
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