Business Insurance
Workers Compensation Insurance
State-mandated coverage that pays lost wages and medical care when an employee is hurt on the job. Correct class codes keep your premium fair.
Looking for Workers Compensation insurance in South Carolina?
When your employees are taken care of, your business is taken care of.
A key part of running your business is keeping employees safe at work. However, if one of your employees does suffer an injury, Workers Compensation coverage provides you and your employees with important protection.
You pride yourself on operating a safe, secure work environment where your employees can perform to the best of their ability while helping your business grow. Even in the most ideal circumstances, the reality is that accidents and illness still happen.
A slip and fall at a restaurant resulting in broken bones, an equipment malfunction at a construction site causing eye injury—it could be any number of things.
Am I required to have Workers Compensation Insurance?
Workers Compensation coverage is a state-mandated insurance program that covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work.
In most states, work comp insurance is required.
How Much Is Workers Compensation Insurance in South Carolina?
Because coverage requirements vary by state, the cost of Workers Compensation depends on where your business operates. Other factors that affect your rates include…
- The number of employees you have.
- The type of work your employees do.
- Your claims history.
- Your industry.
Like all insurance, Work Comp is priced based on risk.
Riskier industries and jobs are more expensive to insure than less risky ones. To make sure prices are as fair as possible, they’re determined by classification codes.
Each type of work or industry has a unique code that classifies the industry and risk, and helps the insurance carrier determine a suitable rate.
One way to save money on your Workers Comp policy is to make sure you’ve classified every employee correctly. The secretary for a construction firm, for example, will have lower rates than the bricklayers.
At GSP Insurance Group, we understand the importance of keeping your employees safe and sound. After all, they are the foundation of your business.
Call our office today and we’ll discuss your needs and options. You can also head over to our quotes page and get started that way too.
Ready to get started?
Start Your Quotes Today
Enter some basic information below to get the process started.
Frequently asked questions
Am I required to carry workers compensation insurance?
What affects the cost of a workers comp policy?
What are classification codes?
How can I keep my workers comp costs down?
Related coverage
Business Insurance
A tailored commercial package built around your property, liability, and casualty needs — whether you're a retailer, contractor, or professional office.
General Liability Insurance
The most basic — and essential — commercial liability coverage. It protects your business from third-party bodily injury and property damage claims.
Ready to talk it through?
Tell us a little about what you need and one of our agents will reach out. We'll shop your coverage and come back with real options.