According to the South Carolina Workers’ Compensation Commission, South Carolina businesses with four or more employees are required by state law to carry workers’ compensation insurance. This includes full-time and part-time workers and family members.
Though workers’ comp may not be required, South Carolina business owners often carry workers’ compensation coverage to protect themselves and their employees. Without coverage, you could be held financially responsible for workers who get hurt on the job. This scenario could cause huge setbacks for your business.
Workers’ compensation coverage protects your business from unexpected expenses if an employee gets injured or sick while on the job. The covered costs can include but are not limited to:
If a worker is permanently disabled by a workplace injury in South Carolina, workers’ compensation settlements are typically paid out in a lump sum or weekly.
South Carolina requires injured workers to report it to their employer within 90 days and seek medical treatment. After the incident is reported, the employee has two years to file a workers’ comp claim for benefits.
Employers often file the claim on behalf of the employee. However, if they don’t, employees can do so using Form 50 or Form 52 in South Carolina.
Once a claim is approved, the injured or ill employee will begin receiving benefits. Benefits are equal to 67% of their average weekly wage. The calculation is based on the four quarters before the injury, up to the maximum set by the South Carolina Department of Employment and Workforce.
If an unfortunate work accident leads to the death of an employee, the employee’s dependents— usually spouses or children — can file a claim with the state. If the individual has no dependents, their parents can file a claim. Any claim must be filed within two years of the date of the employee’s death.
Employers or the insurance company may also be required to pay for other death benefits, such as funeral and burial costs, up to the maximum limit established by the state.
Workers’ compensation costs vary across industries. Factors that influence price include:
The best way to determine the insurance rate for your business is to get a free instant quote from NEXT.
South Carolina workers’ compensation laws don’t require coverage for all employees. Exceptions include:
Although workers’ compensation isn’t always required by state law, you can opt into coverage to extend protection to yourself, your business and your employees.
NEXT strives to resolve every claim quickly. Learn more about our claims process and how our claims advocates will work with you after an employee injury.
General liability insurance protects your business from common mistakes or accidents, such as customer injury or damages to someone’s property.
South Carolina has a variety of commercial auto insurance requirements for business-purpose vehicles. According to the South Carolina Department of Insurance, you’ll need at least $25,000 per person and $50,000 per accident for bodily injury liability, plus $25,000 per accident for property damage liability.
Additionally, you’ll need uninsured motorist coverage of $25,000 per person, $50,000 per accident and $25,000 of property damage coverage per accident.
Note that if you’re insuring passenger vehicles or property carriers, you’ll also need single-limit liability coverage with limits that can range from $1.5 million up to $5 million. The amount of coverage depends on the number of passengers, weight of the load or hazard level of the load you are transporting.
A commercial auto policy includes coverage that can help pay for property damage or medical costs if an accident happens while you or your employee drive for business.
Commercial property insurance can provide financial help if your business structures, goods, gear or inventory are damaged or destroyed by a covered event.
Learn more about workers’ compensation insurance options in the state where you work.
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