According to our MoneyGeek study, NEXT is the best worker's compensation insurance provider in Arkansas, with an overall score of 98 out of 100. However, Thimble and biBerk are also great options for general liability policies. Each of these options offers a great mix of reliable customer service, very low workers' comp rates and a large coverage selection.
Cheapest Workers' Comp Insurance in Arkansas
Updated: June 3, 2025
Advertising & Editorial Disclosure
Key Takeaways
NEXT, Thimble, biBerk, Nationwide and The Hartford are the best cheap workers' comp insurance providers in Arkansas.
Workers compensation coverage costs an average of $699 per year or $60 per month for most small businesses in Arkansas.
Workers' comp insurance is required in Arkansas for all companies with employees to cover expenses from employees sustaining injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Arkansas
| NEXT | 98 | $95 |
| biBerk | 90 | $195 |
| Thimble | 89 | $160 |
| The Hartford | 87 | $269 |
| Nationwide | 86 | $260 |
*Rates and scores are for software development businesses with small (five employees), medium (20 employees) and large (100 employees) operations, aggregated for an overall best recommendation.
NEXT: Best Overall
pros
Best affordability in Arkansas
Highest customer ratings
Most flexible customer service hours
cons
Not the most affordable rates for larger businesses
COMPANY HIGHLIGHTS
NEXT earned our top spot for business insurance in Arkansas due to their great balance of affordability and great service. With over 600,000 insured clients and coverage for 1,300 business types, NEXT has the best customer rating of 4.7 out of 5.0 stars and convenient instant digital access to your certificate of insurance and a 24/7 support via chat. Compared to the next most affordable provider, we found that you'll save $65 more on average monthly.
How Much Is Workers' Comp Insurance in Arkansas?
Depending on the size of your Arkansas-based business, workers' comp rates vary anywhere from $699 to $5,639 per year. However, this only represents software development companies, and your rates will vary widely depending on number of employees, the risk of your industry, the work your employees do individually, and your claims history.
| Businesses with five or less employees | $60 | $699 |
| Medium-size small businesses | $118 | $1,369 |
| Larger small businesses | $483 | $5,639 |
Factors That Impact Workers’ Compensation Costs in Arkansas
The cost of workers' compensation insurance varies for each business, depending on several factors that influence coverage costs including the following: industry type, business size, and claims history.
Payroll costs
Workers' compensation insurance premiums are calculated based on payroll costs, with rates typically charged per $100 of payroll. Businesses with higher payroll expenses pay proportionally higher premiums than those with lower payroll costs.
Number of employees
Companies with a large number of employees face a higher risk of employee injury, which can increase insurance premiums.
Employee class code
Class codes categorize employee job types and determine the rate charged per $100 of payroll, with high-risk industries like construction, mining, and manufacturing paying higher rates than lower-risk fields such as consulting, accounting, and software development.
Previous claims
Claims frequency significantly impacts business insurance rates because insurers use historical claims data to assess risk, with businesses that file multiple claims viewed as higher-risk clients facing increased premiums at renewal. Even small, frequent claims can be more damaging to rates than occasional large claims, as they indicate ongoing operational issues and poor risk management practices that insurers expect will continue.
Arkansas Workers' Comp Insurance: Buyer's Guide
Navigating business insurance is often a complicated task, so we've broken down how to get the best workers' comp coverage, who needs it, and what this type of policy covers to guide you.
How to Get the Best Workers' Comp Insurance in Arkansas
Below we detail the best steps to take to ensure you get the best workers' comp policy possible for your organization.
- 1
Learn about required coverages and options
Research your state's specific workers' compensation regulations since requirements vary significantly by location, and consult with a business insurance agent to determine the appropriate coverage based on your industry, company size, and claims history. This professional guidance helps ensure you purchase the right amount of coverage without being over-insured or under-protected.
- 2
Research costs and providers
Research average costs and providers specific to your business type to identify which companies to request quotes from, as this approach provides a solid baseline and streamlines the quote comparison process.
- 3
Consult similar businesses
Connect with other businesses in your community, particularly those in similar industries, to learn about their experiences, coverage needs, and insurance choices for more personalized decision-making insights.
- 4
Compare multiple providers through different means
Obtain multiple quotes from various providers and compare them on equal terms, using both online comparison sites and direct agent contact since pricing can vary by method, to ensure you find the best coverage and value for your specific business needs.
Do You Need Workers’ Compensation Insurance in Arkansas?
All businesses must carry workers' compensation insurance, though sole proprietors, partners, and fully-owning corporate officers may exclude themselves from coverage.
WORKERS’ COMP PENALTIES IN ARKANSAS
Employers in the Natural State who don't follow the rules for workers' compensation insurance could face big penalties:d
- Civil Penalties: Fines up to $10,000, loss of Arkansas Workers' Compensation Commission protections, personal liability for all employee injury costs, and employees can sue in tort instead of workers' comp.
- Criminal Penalties: Can result in a Class D felony conviction and criminal fines up to $10,000.
What Does Workers’ Compensation Insurance Cover in Arkansas?
Workers' compensation insurance provides vital benefits to employees experiencing work-related injuries or illnesses. This coverage usually encompasses medical care, disability benefits, lost wages and more for impacted workers, paying out 66% of weekly wages according to Arkansas law. This not only safeguards their employees but also defends the business against potential legal claims associated with workplace injuries or illnesses.
Best Workers' Compensation Insurance Arkansas: Bottom Line
In Arkansas, the top three best and most affordable workers' comp insurance providers are NEXT, Thimble, and biBerk. While these companies come highly recommended, we urge you to compare rates for yourself and consult similar businesses in your industry to secure the best deal.
Workers' Comp Insurance Arkansas: FAQ
Below are answers to frequently asked questions about Arkansas workers' comp insurance from our MG experts:
Which company has the best workers’ compensation insurance in Arkansas?
In Arkansas, NEXT surpasses its competition thanks to its competitive pricing (averaging around $95 per month) and low complaint index. However, selecting the best insurance for your needs will depend on various aspects, including your industry, the size of your workforce, and particular state requirements.
Does Arkansas require businesses to have workers’ compensation insurance?
Yes, Arkansas mandates workers' compensation insurance for all businesses with three or more employees. However, partners and fully owning corporate officers have the option to exclude themselves.
How much does workers’ compensation insurance cost in Arkansas?
In Arkansas, the average monthly cost for workers’ compensation insurance for a medium-sized business with 20 employees is $118.
How We Rated Workers' Comp Insurance Companies in Arkansas
MoneyGeek calculated workers' compensation insurance rates using a software development business with five, 20 and 100 employees to represent various organization sizes.
Our scoring methodology included:
- Affordability (60%): Overall cost compared to other providers and different business profiles
- Customer experience (30%): Ratings from actual customers, J.D. Power studies, AM Best financial stability ratings and our team's experience with quote processes
- Coverage (10%): Additional options beyond standard offerings and breadth of industries served
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- NEXT. "Customer Reviews." Accessed June 2, 2025.