NEXT is the best workers' compensation insurance provider in Hawaii, with a score of 98 out of 100. The company offers a great mix of reliable customer service, very low workers' comp rates and a large coverage selection. Thimble and biBerk are also great options to consider.
Cheapest Workers' Comp Insurance in Hawaii
Updated: June 3, 2025
Advertising & Editorial Disclosure
Key Takeaways
NEXT, Thimble and biBerk are our top picks for the best cheap workers' comp insurance providers in Hawaii.
For most small businesses in Hawaii, workers' compensation coverage costs around $1,727 per year or $154 per month.
Workers' comp insurance is required in Hawaii for all companies with employees to cover expenses when employees sustain injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Hawaii
| Next | 98 | $378 |
| Thimble | 88 | $666 |
| biBERK | 86 | $968 |
*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
Most affordable rates for Hawaii businesses
High customer satisfaction
Provides 24/7 support and guidance for claims
cons
Less affordable for larger small businesses (over 50 employees)
COMPANY HIGHLIGHTS
NEXT has the lowest rates for workers' compensation insurance in Hawaii, with monthly rates that will save you over $200 per month compared to the next cheapest provider. The company has a great customer reputation, earning a 4.7 out of 5 rating from customers. NEXT also offers 24/7 customer support, making it a flexible option if you need to make a claim.
How Much Is Workers' Comp Insurance in Hawaii?
For businesses in Hawaii, average workers' compensation premiums range from $1,727 to $23,557 annually. However, this only represents software development companies. Your rates will vary widely depending on the number of employees, the risk of your industry, the work your employees do individually, and your claims history.
| Businesses with five or less employees | $154 | $1,727 |
| Medium-size small businesses | $514 | $5,849 |
| Larger small businesses | $1,968 | $23,557 |
Factors That Impact Workers’ Compensation Costs in Hawaii
The cost of workers' compensation insurance varies for each business, depending on several factors that influence coverage costs, including the following:
Payroll costs
Businesses typically pay workers' compensation rates based on each $100 of payroll, so a business with higher payroll costs pays a higher premium than one with lower payroll costs.
Number of employees
Companies with larger workforces face statistically elevated workplace injury risks due to increased employee exposure across diverse job functions, varying skill levels and multiple work environments.
Employee class code
A class code identifies the type of work employees do. High-risk industries such as construction, mining and manufacturing face significantly elevated rates due to greater exposure to physical dangers, heavy machinery and hazardous materials. Lower-risk professions like consulting, accounting and software development benefit from substantially reduced premiums, which reflect their office-based environments and minimal exposure to physical injury.
Previous claims
A history of workers' compensation claims can significantly increase your premium costs. When insurers evaluate your renewal, they examine your claims frequency, severity and costs compared to similar businesses in your industry. A poor claims history results in substantial rate increases, while clean safety records can earn discounts.
Hawaii Workers' Comp Insurance: Buyer's Guide
Navigating business insurance is often a complicated task. 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 Hawaii
Here are the best steps to take to get the best workers' comp policy possible for your organization.
- 1
Learn about required coverages and options
Research your state's regulations first, as requirements and options vary widely. The coverage you need depends on your industry, organization size and claims history. Talk to a business insurance agent about what's right for your company before buying to avoid getting too much or too little workers' comp insurance.
- 2
Research costs and providers
Research average costs and providers for your specific business to determine which companies to get quotes from. Also, consider state-provided options and whether self-insurance is possible in your state.
- 3
Consult similar businesses
Talk to other businesses in your community, especially those similar to yours. Ask about their experiences, needs and coverage choices to help make your decision.
- 4
Compare multiple providers through different means
Get multiple quotes and compare providers on equal terms to find the best deal. Prices vary depending on how you get quotes: by using online comparison sites or by speaking with an agent. Use different methods and contact various companies to gain the most balanced view of what's best for your business.
Do You Need Workers’ Compensation Insurance in Hawaii?
All businesses in Hawaii are required to carry workers’ compensation insurance. Sole proprietors, partners and corporate officers who fully own a corporation can choose to be excluded from this insurance.
WORKERS’ COMP PENALTIES IN HAWAII
Employers in Hawaii must ensure they follow workers' compensation laws. Not doing so can lead to serious consequences, including:
- Daily fines: $100 per employee per day without coverage, with a minimum fine of $500.
- Personal liability: Employers become responsible for all medical costs and lost wages for injured employees.
- Civil lawsuits: Loss of exclusive remedy protection, allowing injured employees to file civil action against the employer to recover benefits.
- State claims exposure: Injured workers may submit claims to the state's Disability Compensation Division, creating additional liability.
- Investigation and enforcement: The State Investigation Section can assist injured employees and pursue compliance actions against uninsured employers.
What Does Workers’ Compensation Insurance Cover in Hawaii?
Workers' compensation insurance provides vital benefits to employees experiencing work-related injuries or illnesses. This coverage usually encompasses medical care, disability benefits and lost wages for affected workers, paying out 66% of weekly wages according to Hawaii law. This not only safeguards employees but also defends the business against potential legal claims associated with workplace injuries or illnesses.
Best Workers' Compensation Insurance Hawaii: Bottom Line
In Hawaii, the top three best and most affordable workers' comp insurance providers are NEXT, Thimble and biBerk. While these companies are our recommendations, compare rates for yourself and consult similar businesses in your industry to get the best deal.
Workers' Comp Insurance in Hawaii: FAQ
Below are answers to frequently asked questions about Hawaii workers' comp insurance from our MoneyGeek experts.
Which company has the best workers’ compensation insurance in Hawaii?
NEXT provides the best workers’ compensation insurance in Hawaii, offering competitive rates around $378 per month and a commendable customer satisfaction record. Nevertheless, choosing the most suitable insurance provider depends on diverse factors unique to your business, such as industry specifics, team size and state-mandated guidelines.
Does Hawaii require businesses to have workers’ compensation insurance?
In Hawaii, all businesses must carry workers' compensation insurance. However, sole proprietors, partners and fully owning corporate officers can choose not to participate.
How much does workers’ compensation insurance cost in Hawaii?
In Hawaii, businesses with 20 workers typically incur a monthly workers' compensation insurance expense of around $514.
How We Rated Workers' Comp Insurance Companies in Hawaii
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
- HEMIC. "HEMIC." Accessed June 3, 2025.
- NEXT. "Customer Reviews." Accessed June 3, 2025.