South Carolina Workers’ Compensation Insurance Rates for 2024

South Carolina Workers’ Compensation Insurance Rates for 2024
Mordechai Kamenetsky
Last Updated: 
February 6, 2024

In South Carolina, like in all states, there isn't a one-size-fits-all workers’ comp insurance rate for businesses. Instead, your South Carolina workers’ compensation insurance rate will vary based on the industry you operate in, the size of your payroll, and your claims history.

To help you determine your workers’ compensation insurance rates in South Carolina, we've compiled a list of the state's most common industries and the corresponding rates from one of our partner carriers.

Table of Contents

South Carolina Workers’ Compensation Insurance Rates for 2024

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.

Class Code Description Rate per $100 of Payroll Annual Premium
3632 Machine Shop $2.93 $733
3724 Garage Door Installation $4.47 $1,118
3821 Salvage Yard - Auto Recycling $6.45 $1,613
5022 Masonry Construction $8.41 $2,103
5102 Door & Window Installers $7.50 $1,875
5183 Plumbing Contractors $3.42 $855
5190 Electrical Work - Electrician $4.13 $1,033
5221 Concrete Work - Flat Work Cement $4.97 $1,243
5348 Ceramic, Tile & Stone Work $4.91 $1,228
5437 Trim - Finish Carpenter - Cabinets - Countertops $8.00 $2,000
5474 Painting Contractor $8.88 $2,220
5478 Floor Installers - Wood - Carpet - Laminate $3.94 $985
5537 HVAC - Heating & Cooling Service/Repair $4.83 $1,208
5645 Residential Construction - Home Builders - Remodelers - Siding $21.06 $5,265
7605 Alarm Installation & Repair $2.40 $600
8006 Gas Stations & Convenience Stores $2.20 $550
8017 Retail stores-Merchandise - Cannabis Dispensary $1.62 $405
8380 Auto Service & Repair - Mechanic $3.21 $803
8742 Sales Professional $0.41 $103
8810 Clerical - Office Employee $0.21 $53
8832 Medical Office - Doctor - Dentist - Chiropractor, Optometrist $0.39 $98
8835 Home Healthcare Workers $2.46 $615
8842 Group Homes - Temporary Shelters - Disability Facility $2.98 $745
9012 Property Management - Leasing Agent $1.20 $300
9014 Janitorial Service Contractors - Pest Control - Exterminating - Chimney $3.43 $858
9015 Building Maintenance - Campgrounds - Camps - RV Parks $3.65 $913
9052 Hotels & Motels $1.83 $458
9082 Restaurants & Catering $1.59 $398
9083 Fast Food Restaurants - Concessions - Doughnut Shop $1.47 $368
9102 Lawn Service & Maintenance $3.00 $750

*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

Workers' Comp Premium formula

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

Safety Training 

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

Claims Management 

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 

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

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.

Thank you! We'll also send a copy to your inbox for safekeeping.
Oops! Something went wrong while submitting the form. Try again or email for help.
By entering your info, you agree to receive information from us and can unsubscribe at any time.

Note: The rates listed above have been provided by one of our partner insurance carriers, and were accurate at the time of publishing and for illustrative purposes only and may not reflect actual current rates for workers' compensation insurance in South Carolina at this time. Various factors, such as claim history and business experience can affect the rate as well. Business owners should consult with an insurance agent or the NCCI for accurate and up-to-date rate information.

Note: The information provided in this blog is intended for general informational purposes only and is not a substitute for professional legal or insurance advice. Laws and regulations regarding workers' compensation insurance are complex and vary by state and by specific circumstances. Therefore, readers are encouraged to consult with a qualified legal or insurance professional to obtain advice with respect to any particular issue or problem they might have.

Mordechai Kamenetsky

Mordechai Kamenetsky, co-founder and lead agent of Kickstand, is recognized as an expert in workers' compensation. He is passionate about helping small businesses manage risks and lower their workers' comp costs. In his articles, he educates readers and clients on the intricacies of workers' comp insurance.

Highlight Blog Link

Learn More about Workers' Comp in South Carolina

No items found.

Ready for easy and accurate workers' comp?

Get my Quote