NEXT is Connecticut’s best workers' compensation insurance provider, scoring 98 out of 100. The company offers reliable customer service, very low workers' comp rates and an extensive coverage selection. Thimble and biBerk are good runners-up to consider for coverage.
Cheapest Workers' Comp Insurance in Connecticut
Updated: June 2, 2025
Advertising & Editorial Disclosure
Key Takeaways
NEXT, Thimble, biBerk, The Hartford and Nationwide are the best cheap workers' comp insurance providers in Connecticut.
For most small businesses in Connecticut, workers' compensation coverage costs around $884 per year or $77 per month.
Connecticut law mandates workers' compensation coverage for every business with employees. It covers expenses incurred by employees who sustain injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Connecticut
| Next | 98 | $146 |
| Thimble | 88 | $270 |
| biBERK | 88 | $334 |
| The Hartford | 88 | $342 |
| Nationwide | 86 | $404 |
*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
Excellent customer service
Quick and simple quote and purchasing process
Most affordable option for most businesses
cons
Less affordable for business with over 50 employees
COMPANY HIGHLIGHTS
NEXT offers Connecticut businesses the most affordable workers' comp insurance and the best overall experience, earning a 4.7/5 customer rating and recognition from CNBC as a top global digital insurer. However, NEXT primarily serves businesses with under 50 employees, so larger companies may find better coverage options elsewhere.
How Much Is Workers' Comp Insurance in Connecticut?
Workers' comp rates for Connecticut businesses range from $884 to $9,299 per year. This range applies only to software development companies. Your actual rates will vary based on:
- Number of employees
- Industry risk level
- Specific work performed by employees
- Claims history
| Businesses with five or less employees | $77 | $884 |
| Medium-size small businesses | $193 | $2,235 |
| Larger small businesses | $801 | $9,299 |
Factors That Impact Workers’ Compensation Costs in Connecticut
The cost of workers' compensation insurance varies for each business based on several factors:
Payroll costs
Workers' compensation premiums are calculated as a rate per $100 of payroll. Businesses with higher total payroll costs pay proportionally higher premiums. For example, a business with $500,000 in annual payroll at a $2.50 rate would pay $12,500 annually ($500,000 ÷ $100 × $2.50).
Number of employees
Companies with larger workforces face higher risks of workplace injuries due to increased employee exposure, which directly results in higher workers' compensation premiums as insurers price policies based on both payroll size and expected claims frequency.
Employee class code
Class codes identify employee job types and determine the workers' compensation rate per $100 of payroll, with each occupation assigned a specific code based on injury risk and claims history. Due to more workplace hazards, high-risk industries like construction and manufacturing pay significantly higher rates than low-risk fields such as consulting and software development.
Previous claims
A history of workers' compensation claims impacts your premium through an experience modification rating (EMR) that compares your actual claims history to industry standards. Businesses with more frequent or severe claims pay higher rates as insurers view them as higher-risk clients.
Connecticut Workers' Comp Insurance: Buyer's Guide
Finding the right business insurance can be challenging. 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 Connecticut
Here are the steps to help your organization get the best workers' compensation policy possible:
- 1
Learn about required coverages and options
Research Connecticut's specific regulations, as workers' compensation requirements and coverage options vary by state. Your needed coverage will depend on your industry type, company size and claims history. Consult with a business insurance agent before purchasing to ensure you get appropriate coverage levels and avoid costly over-insurance or gaps in protection.
- 2
Research costs and providers
Look into average costs and available providers specific to your business type and industry to identify which insurance companies deserve quote requests. Also explore state-sponsored insurance programs and check if your business qualifies for self-insurance options in your state.
- 3
Consult similar businesses
Network with other businesses in your area, particularly those in similar industries, to gather direct insights about their workers' compensation experiences, coverage needs and provider choices. These peer recommendations can help guide your decision.
- 4
Compare multiple providers through different means
Obtain multiple quotes from various providers using different methods, online comparison sites, direct company contact and insurance agents, as pricing can vary depending on your approach. Compare quotes equally, considering coverage levels and deductibles to identify the best value for your business needs.
Do You Need Workers’ Compensation Insurance in Connecticut?
All Connecticut businesses must carry workers' compensation insurance. Sole proprietors, partners and corporate officers who fully own a corporation may choose to be excluded.
WORKERS’ COMP PENALTIES IN CONNECTICUT
In Connecticut, employers who don't provide required workers' compensation insurance or follow workers' comp laws may face:
- Daily fines: $300 per employee per day for each day without proper coverage
- Stop-work orders: State-issued orders prohibiting employees from working until insurance is obtained
- Criminal charges: Class D felony charges for willful non-compliance, with penalties up to $50,000
- Personal liability: Employers become responsible for paying all employee injury claims and medical expenses out of pocket
- Accumulated penalties: Fines and penalties reaching thousands of dollars for delays or failure to comply
- Civil lawsuits: Loss of exclusive remedy protection, allowing injured employees to sue the employer directly
What Does Workers’ Compensation Insurance Cover in Connecticut?
Workers' compensation insurance benefits employees who suffer work-related injuries or illnesses. This coverage includes medical care, disability benefits, and lost wages for injured workers, paying out 75% of weekly wages according to Connecticut law. The insurance protects employees while also shielding businesses from potential lawsuits related to workplace injuries.
Best Workers' Compensation Insurance Connecticut: Bottom Line
In Connecticut, the top three workers' comp insurance providers are NEXT, Thimble and biBerk. NEXT offers the most affordable coverage at just $146 per month. While we recommend these companies, compare rates and consult peers in your industry to find the best deal for your business.
Workers' Comp Insurance in Connecticut: FAQ
Below are answers to frequently asked questions about Connecticut workers' comp insurance from our MoneyGeek experts.
Which company has the best workers’ compensation insurance in Connecticut?
NEXT offers Connecticut's best workers' compensation insurance, with competitive pricing at $146 per month for most small businesses. However, your best insurance option depends on your industry, workforce size and state requirements.
Does Connecticut require businesses to have workers’ compensation insurance?
In Connecticut, workers' comp insurance is mandatory for all businesses, though sole proprietors, partners and corporate officers with full ownership may opt out.
How much does workers’ compensation insurance cost in Connecticut?
A medium-sized small business in Connecticut pays about $193 per month for workers' compensation insurance, which is higher than the national average of $178.
How We Rated Workers' Comp Insurance Companies in Connecticut
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.
- NEXT. "NEXT Insurance recognized as a top global digital insurer by CNBC." Accessed June 2, 2025.