NEXT is Idaho’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. biBerk and The Hartford are strong runners-up that you should also consider.
Cheapest Workers' Comp Insurance in Idaho
Updated: June 5, 2025
Advertising & Editorial Disclosure
Key Takeaways
NEXT, biBerk, The Hartford, Nationwide and Thimble are the best cheap workers' comp insurance providers in Idaho.
Workers' compensation coverage costs an average of $862 per year or $75 per month for most small businesses in Idaho.
Workers' comp insurance is required in Idaho for all companies with employees to cover expenses when employees sustain injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Idaho
| Next | 98 | $142 |
| biBERK | 89 | $368 |
| The Hartford | 88 | $339 |
| Nationwide | 87 | $380 |
| Thimble | 83 | $407 |
*Rates and picks are for software development businesses with small (five employees), medium (20 employees) and large (100 employees) operations.
NEXT: Best Overall
pros
Most affordable rates for all business types
Top-rated customer service
Fastest quotes
COMPANY HIGHLIGHTS
NEXT is Idaho's top workers' compensation insurance provider, offering affordable coverage for as low as $142 per month. This well-established insurer has competitive pricing, outstanding customer service and strong financial stability. Its industry-leading online quoting system delivers estimates in under 10 minutes.
How Much Is Workers' Comp Insurance in Idaho?
Depending on the size of your Idaho-based business, workers' comp rates range from $862 to $10,817 per year. However, this only represents software development companies. Your rates will vary widely depending on the number of employees, your industry's risk level, the work your employees do individually and your claims history.
| Businesses with five or less employees | $75 | $862 |
| Medium-size small businesses | $203 | $2,349 |
| Larger small businesses | $904 | $10,817 |
Factors That Impact Workers’ Compensation Costs in Idaho
The cost of workers' compensation insurance varies for each business, depending on several factors that influence coverage costs, including business size, industry, location and claims history.
Payroll costs
Businesses typically pay workers' compensation rates based on each $100 of payroll. A business with higher payroll costs pays a higher premium than one with lower payroll costs.
Number of employees
Companies with more employees face a higher risk of employee injury, which can increase insurance premiums.
Employee class code
A class code identifies the type of work employees do. High-risk industries like construction, mining and manufacturing typically have higher rates than lower-risk fields such as consulting, accounting and software development.
Previous claims
Your claims history affects your premiums — more claims usually mean higher rates.
Idaho 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 Idaho
Below 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 Idaho?
All businesses in Idaho 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 coverage.
WORKERS’ COMP PENALTIES IN IDAHO
Employers in Idaho must adhere to workers' compensation laws. If you don't provide the required coverage, you might face serious penalties, such as:
- Daily fines: $2 per employee per day or $25 per day total, whichever is higher.
- Personal liability: Employers become responsible for all medical costs and lost wages that would have been covered by workers' compensation.
- Additional penalties: 10% penalty on the total amount of medical and wage loss benefits, plus attorney's fees if the injured employee has legal representation.
- Criminal charges: Operating without coverage is a misdemeanor under Idaho law, with potential criminal penalties.
- Business shutdown: The Idaho Industrial Commission can file for an injunction to prohibit business operations while in violation.
- Civil lawsuits: Loss of exclusive remedy protection, allowing injured employees to sue the employer directly for damages.
What Does Workers’ Compensation Insurance Cover in Idaho?
Workers' compensation insurance provides vital benefits to employees with work-related injuries or illnesses. It covers medical care, disability benefits and lost wages, paying 67% of average weekly wages for 52 weeks, then 67% of state weekly wages according to Idaho law. This protects employees and shields businesses from legal claims.
Best Workers' Compensation Insurance Idaho: Bottom Line
In Idaho, the leading workers' comp insurance providers are NEXT, biBerk and The Hartford. While these companies are our recommendations, compare rates yourself and consult similar businesses in your industry to get the best deal.
Workers' Comp Insurance in Idaho: FAQ
Below are answers to frequently asked questions about Idaho workers' comp insurance from our MoneyGeek experts.
Which company has the best workers’ compensation insurance in Idaho?
NEXT provides the best workers’ compensation insurance in Idaho, with a strong customer service reputation and competitive pricing of around $142 per month. However, selecting the best insurance for your needs will depend on various factors, including your industry, the size of your workforce and state requirements.
Does Idaho require businesses to have workers’ compensation insurance?
In Idaho, all businesses are legally required to carry workers' compensation insurance. However, sole proprietors, partners and corporate officers who fully own a corporation may waive this requirement.
How much does workers’ compensation insurance cost in Idaho?
For medium-sized small businesses in Idaho, workers’ compensation insurance costs about $203 monthly.
How We Rated Workers' Comp Insurance Companies in Idaho
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
- Idaho State Insurance Fund. "Home." Accessed June 5, 2025.