Workers' Comp Insurance in Indiana

NEXT and The Hartford lead the field for workers' comp insurance in Indiana, with NEXT standing out for exceptional customer service and coverage options. The Hartford matches with competitive rates and robust coverage choices. Simply Business offers another reliable option for Indiana business owners, with scores nearly identical to the top providers.

NEXT and The Hartford emerge as Indiana's premier workers' compensation insurance providers, offering excellent coverage options for business owners.

Indiana businesses can get cheap workers' comp coverage through NEXT for $67 monthly ($807 annually). The Hartford and Thimble offer comparable rates at $67 and $68 per month, respectively. The table below shows costs from all companies we analyzed:

Workers' compensation insurance in Indiana costs businesses an average of $72 per month or $859 annually. Indiana's rates run $2 below the national monthly average of $74. Your business's actual premium depends on industry risk level, number of employees, total payroll and previous claims experience.

In Indiana, 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 $815 per month. This substantial difference reflects the varying workplace injury risks across different professions.

In Indiana, businesses must carry workers' compensation insurance as soon as they hire their first employee. This insurance provides essential coverage for medical expenses and lost wages if workers get injured or become ill due to their job duties. The requirement applies regardless of whether employees are full-time or part-time.

Employers who fail to maintain proper coverage face fines up to $10,000, plus additional penalties of $50 per day until coverage is secured. Indiana also treats this violation as a Class A misdemeanor, which could result in criminal charges. However, some categories are exempt from getting workers' compensation:

You can keep business insurance costs in check while finding good coverage. Start by gathering quotes from multiple providers and comparing options.

Indiana businesses have access to several strong workers' compensation insurance providers. Our analysis shows NEXT, The Hartford and Simply Business lead the market in Indiana. Consider getting quotes from these providers and compare their offerings based on your specific industry needs and company size.

Understanding workers' comp insurance requirements and costs in Indiana can be challenging for business owners to navigate. Find answers to your most common questions in our comprehensive FAQ guide below.

• Affordability (50%): Cost drives every small business insurance decision in Indiana'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, Indiana 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 Indiana 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.