The Hartford leads workers' comp insurance in Colorado, with its excellent coverage options and customer service. NEXT and Simply Business offer alternatives for Colorado business owners, with NEXT performing particularly close to the top spot.
Workers' Comp Insurance in Colorado
The Hartford tops our analysis as the top workers' comp provider in Colorado, with an overall score of 4.64 out of 5.
Compare top Colorado workers' comp insurance providers and find your ideal coverage.
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Updated: September 10, 2025
Advertising & Editorial Disclosure
Key Takeaways
The Hartford, NEXT and Simply Business lead Colorado's workers' comp insurance market with the highest overall scores.
Your business type, number of employees, past claims and available budget determine which workers' comp provider fits best in Colorado.
Compare quotes, review each provider's industry expertise, study their track record and evaluate coverage options to find the right workers' comp insurance in Colorado.
Best Workers' Comp Insurance Companies in Colorado
| The Hartford | 4.64 | 1 |
| NEXT | 4.61 | 2 |
| Simply Business | 4.53 | 3 |
| Coverdash | 4.46 | 4 |
| biBERK | 4.44 | 5 |
| Nationwide | 4.43 | 6 |
| Progressive Commercial | 4.40 | 7 |
| Hiscox | 4.38 | 8 |
| Thimble | 4.35 | 9 |
| Chubb | 4.27 | 10 |
How Did We Determine These Rates and Rankings?
These rates are estimates based on MoneyGeek's analysis of small businesses with two employees across 79 major industries. Actual rates vary based on your business location, industry risk factors, claims history, coverage limits and individual insurer underwriting criteria. Contact insurers directly for personalized quotes.
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LEARN MORE ABOUT BUSINESS INSURANCE IN COLORADO
Explore these resources to learn about other types of coverage for your business:
Best Colorado Workers’ Comp Insurance Reviews
The Hartford and NEXT are Colorado's most reliable workers' compensation insurance providers.
The Hartford
Best Overall Provider
MoneyGeek Rating
4.6/ 5
4.4/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Premium
$68We analyzed thousands of workers' compensation quotes from insurers operating in Colorado across 79 industriesOur Survey: Claims Process
4.5/5Rating based on customer satisfaction with claims handlingOur Survey: Recommend to Others
4.5/5Likelihood customers would recommend this provider
NEXT
Runner-up Best Provider
MoneyGeek Rating
4.6/ 5
4.4/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average monthly premium
$68Based on average costs across multiple business typesOur survey: Claims process
3.9/5Rating from verified customer survey responsesOur survey: Recommend to others
4.8/5Percentage of customers who would recommend NEXT
Cheapest Workers' Comp Insurance Companies in Colorado
In Colorado, The Hartford provides the most cost-effective workers' comp coverage at $68 monthly ($812 annually). NEXT and Thimble offer competitive alternatives at $68 and $70 per month, respectively. The table below shows costs from all companies we analyzed:
| The Hartford | $68 | $812 |
| NEXT | $68 | $821 |
| Thimble | $70 | $839 |
| Progressive Commercial | $70 | $842 |
| Hiscox | $71 | $848 |
| Simply Business | $71 | $848 |
| Coverdash | $72 | $864 |
| biBERK | $74 | $890 |
| Nationwide | $80 | $960 |
| Chubb | $84 | $1,008 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Your actual premium depends on where your business is located, what industry you're in, how many employees you have, and other factors insurers consider.
Average Cost of Workers’ Comp Insurance in Colorado
Workers' compensation insurance in Colorado costs businesses an average of $73 per month ($873 annually). Colorado's rates run slightly below the national monthly average of $74. Your business's actual premium depends on several factors, including your industry's risk level, number of employees, annual payroll and claims history.
Average Cost of Workers' Comp in Colorado by Industry
In Colorado, workers' compensation insurance costs vary dramatically by industry risk level. Speech therapists pay the lowest premiums at $6 monthly, while roofing businesses face higher rates at $825 per month. This wide range reflects the different workplace injury risks across industries.
| Accountants | $20 | $241 |
| Ad Agency | $16 | $189 |
| Auto Repair | $150 | $1,798 |
| Automotive | $117 | $1,402 |
| Bakery | $53 | $631 |
| Barber | $14 | $168 |
| Beauty Salon | $14 | $172 |
| Bounce House | $40 | $475 |
| Candle | $40 | $478 |
| Cannabis | $83 | $992 |
| Catering | $73 | $875 |
| Cleaning | $48 | $576 |
| Coffee Shop | $46 | $551 |
| Computer Programming | $28 | $336 |
| Computer Repair | $24 | $284 |
| Construction | $178 | $2,141 |
| Consulting | $30 | $357 |
| Contractor | $164 | $1,965 |
| Courier | $226 | $2,707 |
| DJ | $14 | $167 |
| Daycare | $13 | $159 |
| Dental | $11 | $132 |
| Dog Grooming | $63 | $762 |
| Drone | $26 | $317 |
| Ecommerce | $22 | $258 |
| Electrical | $56 | $676 |
| Engineering | $38 | $457 |
| Excavation | $105 | $1,261 |
| Florist | $60 | $717 |
| Food | $42 | $505 |
| Food Truck | $45 | $543 |
| Funeral Home | $26 | $316 |
| Gardening | $46 | $556 |
| HVAC | $62 | $746 |
| Handyman | $93 | $1,120 |
| Home-based | $10 | $119 |
| Hospitality | $69 | $829 |
| Janitorial | $48 | $573 |
| Jewelry | $30 | $357 |
| Junk Removal | $139 | $1,666 |
| Lawn/Landscaping | $37 | $448 |
| Lawyers | $52 | $624 |
| Manufacturing | $58 | $702 |
| Marine | $149 | $1,792 |
| Massage | $15 | $174 |
| Mortgage Broker | $14 | $165 |
| Moving | $260 | $3,119 |
| Nonprofit | $32 | $380 |
| Painting | $139 | $1,672 |
| Party Rental | $36 | $438 |
| Personal Training | $25 | $296 |
| Pest Control | $69 | $832 |
| Pet | $30 | $365 |
| Pharmacy | $6 | $76 |
| Photography | $17 | $201 |
| Physical Therapy | $7 | $82 |
| Plumbing | $63 | $759 |
| Pressure Washing | $82 | $986 |
| Real Estate | $30 | $356 |
| Restaurant | $63 | $751 |
| Retail | $34 | $414 |
| Roofing | $825 | $9,896 |
| Security | $51 | $617 |
| Snack Bars | $43 | $514 |
| Software | $26 | $317 |
| Spa/Wellness | $17 | $206 |
| Speech Therapist | $6 | $72 |
| Startup | $13 | $155 |
| Tech/IT | $27 | $321 |
| Transportation | $226 | $2,710 |
| Travel | $7 | $84 |
| Tree Service | $219 | $2,633 |
| Trucking | $267 | $3,203 |
| Tutoring | $10 | $119 |
| Veterinary | $19 | $232 |
| Wedding Planning | $28 | $337 |
| Welding | $116 | $1,393 |
| Wholesale | $40 | $480 |
| Window Cleaning | $207 | $2,488 |
How Much Workers' Comp Insurance Do I Need in Colorado?
In Colorado, businesses must carry workers' compensation insurance as soon as they hire an employee. This covers medical expenses and lost wages for injury or sickness due to their job.
Not having coverage could mean daily fines of $500, with penalties potentially increasing to $1,000 per day. The state may also pursue criminal charges.
Sole proprietors
Business owners operating alone can generally opt out of workers' comp coverage since they are not considered employees of their own company
Corporate officers
Executive officers holding at least 25% ownership in their corporation may elect to exclude themselves by filing a written waiver
Real estate agents
Licensed real estate professionals working on commission basis typically qualify as independent contractors exempt from coverage requirements
Domestic workers
Household employees working fewer than 40 hours per week or earning below the state threshold may be exempt from mandatory coverage
Agricultural workers
Small farms with limited seasonal workers or family-only labor often don't have to have workers' comp.
Independent contractors
Independent contractors can operate without workers' comp coverage
Religious organizations
Members of religious organizations who have taken vows of poverty while working for their church may be exempt from coverage
Professional athletes
Athletes in certain professional sports leagues operate under separate injury compensation systems outside standard workers' comp
How to Get the Best Workers' Comp Insurance in Colorado
You can find good workers' comp insurers and maintain reasonable business insurance costs. Look at insurance rates from multiple providers, examine their coverage details and claims handling processes.
- 1
Check coverage requirements
Colorado state law requires most businesses with employees to carry workers' compensation insurance.
- 2
Prepare business documentation
Collect accurate information before requesting quotes.
- 3
Get multiple insurance quotes
Contact at least three insurance providers for quotes.
- 4
Find industry-specific expertise
Choose insurers who understand your industry's specific risks and compliance requirements.
- 5
Review provider track records
Research providers' claim processing times, complaint history and benefits like workplace return-to-work assistance.
- 6
Examine policy details
Review coverage limits and exclusions. Consider payment options that can help your cash flow.
- 7
Schedule annual coverage review
Changes in payroll, employee count or your business operations can alter what coverage you need.
Colorado Workers’ Comp: Bottom Line
The Hartford, NEXT and Simply Business are the highest-rated workers' comp providers in Colorado. Before choosing, compare quotes from these providers based on what your industry needs.
Colorado Workers' Comp Insurance: FAQ
Find clear answers to your most common questions in our comprehensive FAQ guide below.
Is workers' comp insurance required for all Colorado businesses?
Colorado law requires businesses with one or more employees to carry workers' compensation insurance.
How much does workers' comp insurance cost in Colorado?
The Hartford offers workers' compensation insurance in Colorado starting at $68 per month or $812 annually.
What does workers' comp insurance cover in Colorado?
Colorado workers' comp insurance covers medical expenses and lost wages for work-related injuries or illnesses. Benefits include hospital care, rehabilitation, disability payments and death benefits.
Which workers' comp insurance company is best in Colorado?
The Hartford leads Colorado workers' compensation insurance with a 4.64 overall score, excelling in coverage options and customer service.
What happens if I don't have workers' comp insurance in Colorado?
Operating without workers' compensation insurance in Colorado is illegal and carries severe penalties. The Colorado Division of Workers' Compensation can fine businesses up to $250 per day for noncompliance, with penalties of $500 per day for subsequent violations.
Do sole proprietors need workers' comp insurance in Colorado?
Sole proprietors in the roofing industry, must carry coverage by law.
How do I choose the right workers' comp insurance company in Colorado?
Get quotes from at least three workers' comp insurance providers in Colorado. Look for carriers with expertise in your specific industry. Review each company's claims handling process, customer satisfaction ratings and complaint records.
How We Scored the Best Workers' Comp Insurance Companies in Colorado
- Affordability (50%): Cost drives every small business insurance decision in Colorado's expensive market. We compared monthly premiums across all companies, since even comprehensive policies won't help if you can't afford them.
- Customer experience (30%): When your employee gets hurt, you'll need an insurer that handles claims quickly and treats injured workers fairly. We used J.D. Power ratings, Colorado Department of Insurance complaint data and independent reviews.
- Coverage options (15%): We evaluated each company's policy flexibility, add-on options and coverage limitations for specific Colorado industries and regulatory requirements.
- Financial strength (5%): Premium savings don't matter if your insurer struggles financially. We checked AM Best ratings to ensure recommended carriers can deliver on their promises.
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.