South Carolina Workers’ Compensation Insurance Rates for 2025

South Carolina Workers’ Compensation Insurance Rates for 2025

The rate you see reflects the anticipated cost for every $100 of your payroll. Once you’ve identified your rate, we'll help you calculate your overall premium.

*Premiums are estimated based on a hypothetical $25,000 annual payroll.

Calculating your Workers’ Comp Premium

Once you've identified your rate, calculating your premium is a simple process. Here's the formula you'll use:

(Annual Employee Payroll / $100) x Industry Rate = Your Estimated Premium

Start with your total expected gross annual payroll for all employees, divide that amount by $100, and then multiply by your industry rate. 

For example, if you run a commercial janitorial business with two employees and a combined payroll of $90,000, you would divide that by 100, resulting in $900. Then, multiply this by the South Carolina rate for janitorial businesses, which is $3.43. This will give you an approximate estimate of your workers' comp premium, amounting to $3,087.

Please note: This estimation does not account for taxes and fees. Additionally, your claims history could influence the final cost.

Strategies for managing your Workers' Compensation costs

While some factors, such as industry regulations, cannot be controlled, there are several ways you can proactively manage your workers' compensation expenses:

Safety Training 

Implement safety programs to prevent workplace accidents and reduce the number of claims filed.

Claims Management 

Promptly address any injuries or illnesses and assist employees in returning to work as soon as safely possible. Encourage employees to report all injuries, regardless of the severity.

Risk Classification 

Ensure you are correctly classified by reviewing your business operations and employee roles. Inaccurate class codes can lead to higher rates.

Payroll Management 

Maintain an accurate payroll record, as your workers' compensation premiums are partially based on your payroll numbers.

The maximum weekly compensation rate in South Carolina is determined yearly and directly affects the compensation payouts for lost wages and medical treatment costs. For sole proprietors, LLC owners, partners, and corporate officers, workers' compensation coverage is optional, but some may choose to obtain a certificate of insurance for added protection.

By taking control of the factors within your reach, you can effectively manage your workers' compensation insurance rates in South Carolina, making sure that both your employees and your business are adequately protected.

Get clear and accurate Workers' Comp Insurance Guidance

If you need help figuring out your rate or estimated premium, we've got you covered. Contact us at (866) 338-8823 for personalized support, or start an instant quote to get a quick estimate of your workers' comp premium. At Kickstand Insurance, we're dedicated to simplifying the complexities of workers' compensation insurance for you.