Question 1

How much does workers' comp cost for Trust Company in South Carolina?

Accepted Answer

The current rate for Trust Company (Class Code 8847) in South Carolina is $0.15 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $75 per year in workers' comp premium.

Question 2

Is workers' comp mandatory in South Carolina?

Accepted Answer

Yes, workers' compensation insurance is mandatory in South Carolina for employers with 4 or more employees.

Question 3

How does South Carolina's rate compare to other states?

Accepted Answer

South Carolina's rate for Trust Company is $0.15, which is $0.01 below the national average of $0.16 (-6%).

Question 4

What does class code 8847 cover?

Accepted Answer

Covers employees of trust companies managing fiduciary accounts, estates, and trust administration.

State	Rate per $100	Difference
South Carolina (current)	$0.15	—
Indiana	$0.12	-0.03
Texas	$0.12	-0.03
Virginia	$0.12	-0.03
Arkansas	$0.13	-0.02
Colorado	$0.13	-0.02

Workers' Comp Rate for Trust Company in South Carolina (Class Code 8847)

Get a Custom Quote for Trust Company in South Carolina

Compare: Trust Company Rates in Other States

Get an Exact Quote for Your Business in South Carolina

Related Class Codes in South Carolina

Frequently Asked Questions

Ready to Get Covered?