South Dakota Workers' Compensation Rates

South Dakota workers' compensation rates stable in 2024.

Workers' compensation rates in South Dakota are about 2% higher than the national average and they have remained stable for the past five years. This is good news for small business owners needing to buy workers' compensation coverage for their business. South Dakota ranks 25th in the country on the average cost of workers' comp coverage from highest to lowest. Insurance companies continue to compete to win new business as workers' compensation has been the most profitable libe of coverage for most insurance companies in the state.

South Dakota is an NCCI state like most other states. NCCI manages employers' experience modification rates and collects all data for the state including claims, class codes, premiums, and payroll. They analyze this data and make annual recommendations to carriers and to the ND Department of Insurance. Every Insurance company is required to file their rates with the state for approval each year.

Workers' compensation rates will vary for the same class codes in North Dakota because insurance companies can apply policy credits and debits up to 25% to adjust their filed rates. More discounts may also be added to a policy depending on the size of payroll and overall claims experience.

Don't pay too much for your workers' comp coverage. Our agents will find your best deal. Our technology tracks carrier rates by state and compares their pricing in real-time. Find out how knowledegeable agents, better advice and more options lead to lower rates and a better price.