How is South Carolina workers' comp premium calculated?

The base formula is (annual payroll divided by 100) multiplied by the class-code base rate, then multiplied by your experience modification factor. South Carolina uses NCCI class codes and loss costs, so each trade has its own base rate.

What is an experience modifier?

It is a factor based on your claims history versus expected losses for your class and size. A mod of 1.00 is neutral, below 1.00 lowers premium for a clean record, and above 1.00 raises it after costly claims.

Is workers' comp mandatory in South Carolina?

Yes. South Carolina generally requires employers with four or more employees to carry workers' compensation insurance. Some industries and family businesses have specific exemptions defined by the SC Workers' Compensation Commission.

Does this include taxes and assessments?

No. This estimates the manual premium for one class code. Real quotes add expense constants, schedule credits or debits, premium discounts, and South Carolina assessments such as the Second Injury and administrative funds.

Can I rate more than one class code?

This tool rates a single classification. Multi-trade employers calculate premium for each class code separately and sum the results, since clerical, sales, and field staff carry very different base rates.

South Carolina Workers' Compensation Premium Calculator

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South Carolina employers buy workers’ compensation insurance through private carriers, and premium is priced per $100 of payroll using NCCI class codes. This calculator applies the standard rating formula so you can estimate your annual cost before requesting a quote, and see how your experience modifier moves the number.

How it works

Workers’ compensation premium follows a well-defined rating formula:

premium = (annual payroll / 100) × class-code base rate × experience modifier

Payroll units. Your annual payroll is divided by 100 because comp is rated per $100 of wages.
Class-code base rate. Each NCCI classification — roofing, clerical, restaurant, trucking — has a published base rate in dollars per $100. Riskier trades have far higher rates.
Experience modifier. Your mod scales the manual premium by your loss history. A mod of 1.00 is neutral; 0.85 is a 15% credit; 1.20 is a 20% surcharge.

Tips and example

A clerical office with $200,000 payroll and a base rate of $0.30 per $100 produces a manual premium of $600 before the mod. A roofing crew with the same payroll but a $25.00 base rate produces $50,000 — the class code dominates the cost. Always rate each class code separately, then sum.

This is an estimate for one classification. Final South Carolina quotes add expense constants, schedule credits, premium discounts for size, and statutory assessments. Confirm your exact rates with a licensed carrier or agent.