Every type of job is assigned a base rate for coverage by the SD Division of Labor and Regulation and the Division of Insurance. Workers' compensation insurance companies must use these rates, but can raise or lower them up to 25% based on discounts, incentives, and claims histories.
Let's look at some workers' compensation insurance rates for a few different kinds of jobs in South Dakota. These cost ranges are for every $100 of employer payroll.
- Landscapers: $3.05 to $5.64
- Plumbers: $2.80 to $5.17
- Roofing contractors: $11.28 to $20.85
- Retail store workers: $0.88 to $1.63
- Clerical workers: $0.12 to $0.22
- Restaurant workers: $0.87 to $1.61
As expected, workers’ compensation rates are higher for jobs that have a significant risk of employee injuries and occupational illnesses. Your quoted costs will be based on the number of employees you have, how much they are paid, the types of jobs they do, and your company's history of accidents and workers’ compensation claims.