Manufacturing
- NAICS Code 31-33 - For Commercial Insurance

Need Personal or Business Insurance?

Request A Quote



Learn about Manufacturing - NAICS Code 31-33 - For Commercial Insurance. Insurance companies use NAICS codes to classify your industry and calculate your premiums. See all the six digit codes that fall under this primary NAICS class code for business insurance underwriting and cost purposes.

Manufacturing - NAICS Code 31-33 - For Commercial Insurance

Manufacturing - NAICS Code 31-33 - For Commercial Insurance

What's the best way to describe your company's business operations? Are you involved in the Manufacturing industry?

If so, then your business classification falls under Manufacturing - NAICS Code 31-33 - For Commercial Insurance. Insurance companies use NAICS codes to identify customers by industry code.

The NAICS sector code is a six digit number: the first two digits designate the largest business sector, the third digit designates the subsector, the fourth digit designates the industry group, and the fifth digit designates particular industries. The last digit designates national industries.

Sector 31-33 - Manufacturing - NAICS Manual

The Manufacturing sector comprises establishments engaged in the mechanical, physical, or chemical transformation of materials, substances, or components into new products. The assembling of component parts of manufactured products is considered manufacturing, except in cases where the activity is appropriately classified in Sector 23, Construction.

Establishments in the Manufacturing sector are often described as plants, factories, or mills and characteristically use power-driven machines and material handling equipment. However, establishments that transform materials or substances into new products by hand or in the worker's home and those engaged in selling to the general public products made on the same premises from which they are sold, such as bakeries, candy stores, and custom tailors, may also be included in this sector. Manufacturing establishments may process materials or may contract with other establishments to process their materials for them. Both types of establishments are included in manufacturing.

The materials, substances, or components transformed by manufacturing establishments are raw materials that are products of agriculture, forestry, fishing, mining, or quarrying as well as products of other manufacturing establishments. The materials used may be purchased directly from producers, obtained through customary trade channels, or secured without recourse to the market by transferring the product from one establishment to another, under the same ownership.

The new product of a manufacturing establishment may be finished in the sense that it is ready for utilization or consumption, or it may be semi-finished to become an input for an establishment engaged in further manufacturing. For example, the product of the alumina refinery is the input used in the primary production of aluminum; primary aluminum is the input to an aluminum wire drawing plant; and aluminum wire is the input for a fabricated wire product manufacturing establishment.

The subsectors in the Manufacturing sector generally reflect distinct production processes related to material inputs, production equipment, and employee skills. In the machinery area, where assembling is a key activity, parts and accessories for manufactured products are classified in the industry of the finished manufactured item when they are made for separate sale. For example, a replacement refrigerator door would be classified with refrigerators and an attachment for a piece of metalworking machinery would be classified with metalworking machinery. However, components, input from other manufacturing establishments, are classified based on the production function of the component manufacturer. For example, electronic components are classified in Subsector 334, Computer and Electronic Product Manufacturing, and stampings are classified in Subsector 332, Fabricated Metal Product Manufacturing.

Manufacturing establishments often perform one or more activities that are classified outside the Manufacturing sector of NAICS. For instance, almost all manufacturing has some captive research and development or administrative operations, such as accounting, payroll, or management. These captive services are treated the same as captive manufacturing activities. When the services are provided by separate establishments, they are classified in the NAICS sector where such services are primary, not in manufacturing.

The boundaries of manufacturing and the other sectors of the classification system can be somewhat blurry. The establishments in the Manufacturing sector are engaged in the transformation of materials into new products. Their output is a new product. However, the definition of what constitutes a new product can be somewhat subjective.

How NAICS Classifications Effects Your Commercial Insurance Cost

But how does your Manufacturing - NAICS Code 31-33 - For Commercial Insurance classification affect your premiums and insurance cost? Insurance companies selling commercial insurance use NAICS codes in many ways - to analyze and classify the businesses they insure, or choose not insure. Some small business NAICS code classifications can result in you paying higher premiums for your business insurance. It is important that your business is classified properly.

Industry codes help insurers with several analytical processes involving marketing, underwriting, exclusions, loss control, forms, pricing and other operations. Let's look at some of the the NAICS codes under your classification.

NAICS Structure

Following is a list of all the codes and titles. If the title is linked you can drill down for more information:

Manufacturing - NAICS Code 31-33 - For Commercial Insurance

We hope this information on Manufacturing - NAICS Code 31-33 - For Commercial Insurance has been helpful. Your classification determines how much you pay for your commercial insurance and much more.

More NAICS Sector Codes

Agriculture, Forestry, Fishing and Hunting, Mining, Utilities, Construction, Manufacturing, Wholesale Trade, Transportation and Warehousing, Information, Finance and Insurance, Real Estate Rental and Leasing, Professional, Scientific, and Technical Services, Management of Companies and Enterprises, Administrative and Support and Waste Management and Remediation Services, Educational Services, Health Care and Social Assistance, Arts, Entertainment, and Recreation, Accommodation and Food Services, Other Services (except Public Administration), Public Administration

Want A Business or Personal Insurance Quote?

Request A Quote

Contact EK Insurance to discuss how much the insurance you want costs.