Mmi Construction Svc Llc
10 N AVE E
ELIZABETH, NJ 07201
Commercial Insurance Overview
Mmi Construction Svc Llc is based in Union county in New Jersey. They operate in the Construction industry, specifically in Repair Services Nec, which is a low risk industry. The business is in the Assigned Risk pool, which means they are (or were) a high risk business. , but based on their MOD they should look at leaving the AR pool.
They have been with the same worker's comp carrier for the last 4 years. We see commercial coverage for them in 23 states including Alabama, Arkansas, Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Maine, Minnesota, Missouri, North Carolina, New Hampshire, New Jersey, South Carolina, Tennessee, Texas, Virginia, Vermont, Kentucky.
An Experience Mod (MOD) is a rate applied to the business. It represents how risky the business is based on past claims. This business has a MOD of... You'll need to join... Which is an excellent rating no matter the industry, and should be able to shop aggressively.
We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison. The premium paid has increased by 70%. Relevant questions to ask are has payroll increased or have claims increased?
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Mmi Construction Svc Llc. This can give you an idea of what carriers might best fit your business.
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Erie Ins Grp Pol Rate: 1.50 Med. LCM: 1.50 | $1.50 32117 Businesses 2242 | |
Berkshire Hathaway Grp Pol Rate: 2.20 Med. LCM: 2.20 | $2.20 25207 Businesses 6534 | |
Hartford Fire & Cas Grp Pol Rate: 1.91 Med. LCM: 1.91 | $1.91 87% 22158 Businesses 2305 | |
Travelers Grp Pol Rate: 1.32 Med. LCM: 1.32 | $1.32 14924 Businesses 1409 | |
Amtrust Ngh Grp Pol Rate: 1.85 Med. LCM: 1.85 | $1.85 13877 Businesses 1630 | |
State Farm Grp Pol Rate: 2.09 Med. LCM: 2.09 | $2.09 5438 Businesses 624 | |
Selective Ins Grp Pol Rate: 3.03 Med. LCM: 3.03 | $3.03 5406 Businesses 336 | |
Markel Corp Grp Pol Rate: 2.06 Med. LCM: 2.06 | $2.06 2% 5380 Businesses 375 | |
Proassurance Corp Grp Pol Rate: 1.65 Med. LCM: 1.65 | $1.65 5258 Businesses 382 | |
Liberty Mut Grp Pol Rate: 1.56 Med. LCM: 1.56 | $1.56 25% 4667 Businesses 343 | |
Class
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Payroll
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Total Payroll:
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Calculate Premium Estimates
Enter the State, Mod, and Payroll for each employee class to get premium estimates from the top carriers writing that class of business
Carriers are sorted by number of accounts in that class of business.
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Market Comparison for Mmi Construction Svc Llc
Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.
- Premium is Higher than 76% of peers.
- In the last year, premium Increased by 70%. While peers Increased an average of 3%.
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
- Experience Mod is in-line with peers, in the 65th percentile.
- There was a recent mod increase.
We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.
- 15% of peers have changed carriers since last year. Those who did, saw a 5.7% decrease in premium vs those who stayed with their current provider had a 3.2% decrease.
- Current Carrier's market share is in the 95th percentile at 8.9% of the market.