Article
Top 10 Best Workers Compensation Insurance Companies of 2026
Protect your employees and business from workplace injury costs. Our experts compared rates, coverage, and service to identify the best workers comp insurance providers.
Workers compensation insurance is legally required in most states if you have employees. It covers medical expenses, lost wages, rehabilitation, and permanent injury benefits for employees injured on the job, while protecting your business from lawsuits.
Our team analyzed pricing across 79 industries, coverage features, financial ratings, and claims service. Here are the best workers compensation insurance companies for 2026.
Quick Comparison
| Company | Best For | Starting Price | Rating |
|---|---|---|---|
| 1. NEXT Insurance | Best Overall Affordability | $6/mo | ★4.9/5 |
| 2. The Hartford | Best for Medical Offices | $25/mo | ★4.9/5 |
| 3. Nationwide | Best for High-Risk Industries | $50/mo | ★4.8/5 |
| 4. Travelers | Best for Retailers | $35/mo | ★4.8/5 |
| 5. Progressive Commercial | Best for Professional Offices | $30/mo | ★4.7/5 |
| 6. Liberty Mutual | Best Customer Service | $40/mo | ★4.6/5 |
| 7. Central Insurance Companies | Best for Quick Coverage | $45/mo | ★4.6/5 |
| 8. AmTrust Financial | Best for Small Businesses | $38/mo | ★4.5/5 |
| 9. Zurich Insurance | Best for Large Employers | $75/mo | ★4.6/5 |
| 10. Pie Insurance | Best Tech-First Platform | $42/mo | ★4.5/5 |
Our Top Picks in Detail
NEXT Insurance
NEXT Insurance offers the most affordable workers comp rates in the industry, with coverage starting at just $6 per month for low-risk professions. Their pay-as-you-go model and instant online platform serve small businesses perfectly.
Pros
- ✓Lowest rates across 79 industries analyzed
- ✓Starting at just $6/month for low-risk jobs
- ✓Pay-as-you-go option available
- ✓Instant online quotes and coverage
- ✓Serves over 300,000 businesses
Cons
- ✗Limited to smaller businesses
- ✗Not available in monopolistic states
- ✗Less suitable for high-risk industries
The Hartford
The Hartford excels at covering medical offices and healthcare businesses with tailored workers comp policies. Their A+ rating and pay-as-you-go options provide financial flexibility for growing practices.
Pros
- ✓Specializes in medical office coverage
- ✓A+ AM Best rating
- ✓Pay-as-you-go payroll plans
- ✓Includes employer's liability
- ✓Excellent customer service
Cons
- ✗Higher premiums for high-risk industries
- ✗Some states require agent
- ✗Audit process can be complex
Nationwide
Nationwide leads in covering high-risk industries like construction and manufacturing. Their safety training programs and strong financial ratings provide comprehensive protection for businesses with elevated injury risks.
Pros
- ✓Specializes in construction and contractors
- ✓A+ financial strength rating
- ✓Multi-state coverage available
- ✓Safety training resources included
- ✓Strong claims support
Cons
- ✗Higher rates for very high-risk work
- ✗Underwriting requirements strict
- ✗Online capabilities limited
Travelers
Travelers dominates the workers comp market with the largest market share and A++ rating. Their retail industry expertise and multi-state capabilities serve businesses from single locations to national chains.
Pros
- ✓Largest workers comp provider by market share
- ✓A++ AM Best rating
- ✓Retail industry expertise
- ✓Over $3.8 billion in premiums written
- ✓Multi-state capabilities
Cons
- ✗Premium pricing for premium coverage
- ✗May require broker for best rates
- ✗Complex policy structures
Progressive Commercial
Progressive Commercial excels at covering professional offices and low-risk workplaces with competitive rates. Bundling with their industry-leading commercial auto insurance delivers additional savings.
Pros
- ✓Competitive rates for office workers
- ✓A+ financial rating
- ✓Bundle with commercial auto
- ✓Strong online quote system
- ✓Pay-as-you-go available
Cons
- ✗Less competitive for high-risk work
- ✗Better rates with bundling
- ✗Customer service varies by region
Liberty Mutual
Liberty Mutual prioritizes customer service with dedicated claims specialists and return-to-work programs that reduce claim costs. Their safety consultation services help prevent injuries before they occur.
Pros
- ✓Outstanding customer service reputation
- ✓Dedicated claims specialists
- ✓Return-to-work programs
- ✓Safety consultation services
- ✓Multi-policy discounts
Cons
- ✗Higher premiums than some competitors
- ✗Complex pricing structure
- ✗May require agent for setup
Central Insurance Companies
Central Insurance Companies specializes in fast workers comp coverage with same-day approvals available. Their regional focus and flexible payment options serve businesses needing immediate protection.
Pros
- ✓Fast underwriting and approval
- ✓Same-day coverage available
- ✓A rating from AM Best
- ✓Flexible payment options
- ✓Regional expertise
Cons
- ✗Limited geographic availability
- ✗Smaller carrier than national brands
- ✗Fewer online self-service tools
AmTrust Financial
AmTrust Financial focuses exclusively on small businesses under 100 employees with competitive rates and simplified enrollment. Their pay-as-you-go plans help small businesses manage cash flow effectively.
Pros
- ✓Specializes in businesses under 100 employees
- ✓Competitive small business rates
- ✓Pay-as-you-go plans available
- ✓Easy enrollment process
- ✓Strong small business focus
Cons
- ✗Limited to smaller employers
- ✗Must work through agents/partners
- ✗Not available in all states
Zurich Insurance
Zurich Insurance serves large employers with multi-state and global workers comp programs. Their sophisticated risk management and analytics help large businesses reduce claims and control costs.
Pros
- ✓Multi-state and global capabilities
- ✓Sophisticated risk management programs
- ✓A+ financial strength
- ✓Customized large employer solutions
- ✓Advanced analytics and reporting
Cons
- ✗Minimum employee requirements
- ✗Higher premiums for comprehensive service
- ✗Requires broker relationship
Pie Insurance
Pie Insurance leverages technology and AI to deliver fast, transparent workers comp quotes in just 3 minutes. Their modern platform and competitive pricing appeal to tech-savvy small business owners.
Pros
- ✓Fully digital platform
- ✓AI-powered pricing
- ✓3-minute quote process
- ✓Transparent pricing
- ✓Modern user interface
Cons
- ✗Newer company (less track record)
- ✗Limited to certain industries
- ✗Not available in all states
How We Evaluate Workers Comp Insurance
Our expert team uses rigorous criteria to evaluate workers compensation insurance companies:
Pricing Analysis
We compared rates across 79 industries:
- Low-risk professions: Speech therapists ($6/month with NEXT)
- High-risk industries: Roofing contractors (up to $784/month)
- Industry average: $74/month for most small businesses
- Payroll basis: Costs calculated per $100 of payroll
Coverage Features
We evaluate essential policy elements:
- Medical expenses: All work-related injury treatment
- Lost wages: Typically 2/3 of employee’s regular pay
- Rehabilitation costs: Physical therapy and retraining
- Permanent injury benefits: Lump sum or ongoing payments
- Employer’s liability: Protection from employee lawsuits
- Death benefits: Support for families of fatally injured workers
Financial Strength
We prioritize carriers with strong ratings:
- AM Best ratings from A++ to A-
- Claims-paying history during economic downturns
- Market share and stability indicators
Payment Flexibility
We assess premium payment options:
- Pay-as-you-go: Premiums adjust with actual payroll
- Annual policies: Traditional fixed annual premiums
- Monthly installments: Spread costs throughout the year
- Audit processes: Fair and transparent year-end adjustments
Frequently Asked Questions
Is workers compensation insurance required?
Workers comp is required in most states if you have employees, though requirements vary. Some states require it for any business with employees, while others have thresholds (like 3-5 employees). Four states (North Dakota, Ohio, Washington, Wyoming) operate monopolistic state funds where you must purchase through the state. Texas is the only state where workers comp is optional.
How much does workers compensation insurance cost?
The average cost is $74 per month or $886 per year for small businesses with 2 employees and $150,000 in annual payroll. Costs vary dramatically by industry—low-risk professions like speech therapists can pay as little as $6/month with NEXT, while high-risk jobs like roofing can cost $784/month. Your state, payroll, claims history, and job classifications all affect pricing.
What does workers compensation insurance cover?
Workers comp covers all medical expenses for work-related injuries and illnesses, including emergency care, surgery, medication, and rehabilitation. It also pays approximately 2/3 of the employee’s lost wages while they recover, covers permanent disability benefits, and provides death benefits to families if a worker dies on the job. Most policies include employer’s liability insurance protecting you from lawsuits.
What is pay-as-you-go workers comp?
Pay-as-you-go workers comp adjusts your premiums based on actual payroll each pay period, rather than estimating annual payroll upfront. You report payroll and pay premiums monthly, eliminating large year-end audit bills or refunds. This improves cash flow for businesses with seasonal fluctuations or rapid growth.
What happens if I don’t carry workers comp insurance?
Operating without required workers comp can result in severe penalties including heavy fines ($10,000+ in many states), criminal charges, and even jail time for repeat offenders. You’ll be personally liable for all employee injury costs, which can bankrupt a business. Many states also shut down non-compliant businesses immediately upon discovery.
How can I reduce workers comp insurance costs?
Implement comprehensive workplace safety programs to prevent injuries and maintain a claims-free record. Use proper job classifications (misclassification costs you money). Choose pay-as-you-go plans to match premiums to actual payroll. Implement return-to-work programs to reduce claim durations. Bundle workers comp with other business insurance for discounts. Consider higher deductibles if financially feasible.