Retail Insurance & Workers' Compensation

Workers' Compensation Codes Related to Stores

Employees are grouped into classification codes based on their job duties and work functions. The National Council on Compensation Insurance (NCCI) currently utilizes nearly 800 class codes to help insurance companies and agents categorize employees for rating purposes. Insurance companies set a base manual rate for each class code in order to begin pricing a policy.

Properly classifying workers is an important part of the quote process. Mis-classified employees can cost small businesses thousands of dollars. You could end up paying too much for coverage or owing more money after an annual audit.

Class Code 8017 | Retail Store

Retail store insurance is a very broad class of business. It is the most common class code for most retail stores that sell many different varieties 1of general merchandise. Class code 8017 applies to all stores that are not classified under another code as a specialty store.

Retail stores that typically fall under this classification include office supply stores, gift and novelty stores, electronics, paint, rental centers, shoes and clothing, sporting goods, liquor, tobacco, consignment and pawn shops, pet supplies, books and magazines, baked goods, medical supplies and many related inventory.

Class Code 8006 | Grocery Store

Grocery stores typically sell perishable items as opposed to durable or dry goods. While the rates are similar to retail stores, grocery stores may involve higher labor costs and different underwriting considerations. Class code 8006 includes retail grocery stores, coffee and tea shops, confectionary and candy stores and convenient stores.

Class Code 8010 | Hardware Store

The hardware store class code applies to both retail and wholesale stores that sell hardware goods such as tools, nails, bolts, lumber and other related items. Locksmiths, outdoor power equipment stores and farm supply stores also fall under this classification.

Class Code 8044 | Furniture Store

This code refers to both retail and wholesale dealers who primarily sell furniture. Merchandise sold includes home furnishings, antiques, lawn furniture, office furniture, etc.

Class Code 8045 | Drug Store

Class code 8045 is specific to pharmacies and drug stores. Incidental compounding of drugs is permitted.

Class Code 8018 | Wholesale Distribution

Wholesalers typically provide a variety of good to retail operators rather than consumers. Items may include groceries, appliances, office supplies and electronics. Wholesalers are separately rated under class code 8018.

There are numerous other classification codes used to define specialized stores such as Jewelry Repair-3383, Florists-8001, Bicycles- 8010, and more. Several states often utilize different codes for certain types of classification so class codes may vary. Call our workers comp Specialists for details about your classification code.

Related: retail store, shop, novelty store, antique store, art gallery, bakery, ice cream parlor, battery store, gift shop, newsstand, office supplies, liquor store, souvenir stand, beauty supply store, electronics, floor coverings, luggage, shoe repair, furniture, pet store, pharmacy, dispensary, smoke shop, pawn shop, thrift shop, medical supply store