MoneyGeek identified the top providers of workers' compensation insurance in Louisiana by evaluating affordability, financial stability, customer satisfaction scores and the time it takes to obtain a quote online. Based on the findings, Thimble offers the best coverage.

Workers’ comp insurance in Louisiana minimizes liability costs for small business owners by covering employee-related injuries, ongoing care and lost wages and death benefits, among others.


Best Workers’ Compensation Insurance in Louisiana

We ranked Thimble as the overall best workers’ comp insurance provider in Louisiana, with a MoneyGeek score of 94 out of 100. The company’s policies cost an average of $161 per month, although actual rates may vary due to several factors, including the business size, number of employees and industry of operation.


Cheapest Workers’ Compensation Insurance in Louisiana

The most affordable workers’ comp insurance in Louisiana is from Thimble, with coverage costing an average of $161 per month. The insurer has the lowest premium for businesses with $1,250,000 in annual payroll costs and 20 employees, but actual premiums will vary for different employee counts and payroll costs.


Although we rated workers’ insurance comp providers in this category based on the monthly premiums, the most affordable company for your business may vary depending on many other factors. The following table can help you compare monthly costs across different providers for a business with 20 employees in Louisiana.


Best Workers’ Compensation Insurance for Micro Businesses in Louisiana

For Louisiana micro businesses with an employee count of five and $312,500 as the annual payroll cost, biBERK outshines other workers’ compensation insurance providers in our scoring system. The insurer earned a MoneyGeek score of 97 out of 100, with an average monthly premium of $77.

Although the employee count influences workers' insurance costs, payroll costs impact the rates more. Micro businesses typically feature between one and nine employees.


Best Workers’ Compensation Insurance for Midsize Businesses in Louisiana

Thimble is our top pick for the best workers’ compensation insurance in Louisiana if you run a midsize business with approximately 100 employees. Coverage from this insurer costs an average of $716 per month based on rates for a business with an annual payroll amount of $6,250,000.

Although the cost of workers’ compensation insurance fluctuates with the employee count, payroll generally has more influence in determining the monthly premiums.


How Much Is Workers’ Compensation Insurance in Louisiana?

The average monthly workers' compensation insurance premium for a business with 20 employees in Louisiana is $217. This average rate is slightly higher than the national monthly average of $168.

For this analysis, our sample policy limits were as follows:

  • $1 million total policy limit
  • $1 million per accident limit
  • $1 million per employee limit

The total policy limit refers to the maximum amount the insurer covers within the policy period, which is $1 million for our sample profile. The same maximum amount applies to a single accident and each employee. Any costs above these limits get covered out-of-pocket.

Employee count and annual payroll costs are two of the primary factors that influence workers’ compensation insurance rates. The following table indicates how average premiums vary for businesses with five, 20 and 100 employees.


Factors That Impact Workers’ Compensation Costs in Louisiana

Workers’ compensation insurance rates differ for each business based on factors like the annual payroll costs, number of employees, employee class code and claim history.


Do You Need Workers’ Compensation Insurance in Louisiana?

Businesses with at least one employee require workers’ compensation insurance in Louisiana, with the exemption of the following:

  • Certain private residences and private unincorporated farm employees
  • Certain performers or musicians
  • Employees who are covered by specific federal regulations
  • Railroad employees and those in foreign or interstate commerce
  • Employees engaged in spraying or dusting operations within airplanes
  • Landmen
  • Board directors and uncompensated officers for some non-profit organizations

Although your business may legally not require workers' compensation insurance, it is recommended that you purchase the coverage to ensure you are safeguarded from liabilities associated with workplace injuries.

Businesses can purchase coverage through the private market or via a state fund. Some employers in Louisiana may also become self-insurers if they have sufficient financing by formulating a self-insurance plan and submitting it to the Department of Insurance for review.

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Louisiana employers who do not purchase workers’ compensation insurance can face various penalties, including:

  • A fine of up to $250 for each employee for the initial violation.
  • $500 for every employee for additional violations for a maximum of $10,000.
  • The employer may get charged with a criminal violation for failing to offer workers’ compensation insurance or falsifying information about having the coverage to reduce premiums.

Those caught violating the law may receive an injunction barring them from conducting further business until proof of coverage is provided to the Office of Workers’ Compensation.

What Does Workers’ Compensation Insurance Cover in Louisiana?

Workers' compensation insurance in Louisiana provides various benefits to the business and employees by covering the following:

  • Medical costs: If an employee becomes ill or gets injured while at work, workers’ compensation pays the medical expenses, including ambulance rides, treatment, surgery and prescription drugs.
  • Lost wages: If an incident happens at work that makes employees incapable of working for weeks or months, this coverage may offer a parietal wage replacement during the recovery period.
  • Ongoing care: Employees with injuries that need long-term care may have their workers’ comp cover the cost of ongoing care if they file a claim and it gets approved.
  • Death benefits: If an employee passes away due to an incident at work, workers' compensation insurance may cover funeral costs and other death benefits.

Note that the employer is the policyholder for this type of insurance.

Workers’ Compensation Insurance Resources for Employees in Louisiana

The Louisiana Workforce Commission handles workers’ compensation activities for businesses in the state. Employers and employees may use the commission's website to find resources about their coverage, report injuries and file claims. You can use the following steps to file a claim through the commission's website:

  • Click the enroll now link under LWCC Interactive
  • Complete the enrolment process using your policy number and security code
  • Finalize account setup to file your claim

Employees may also obtain guidance regarding the claims process from their employer.

Frequently Asked Questions About Workers’ Compensation Insurance in Louisiana

The best ideal workers' compensation insurance provider for your needs depends on various factors. Here are some answers to common questions about obtaining the best workers' compensation insurance in Louisiana.

Thimble has the best workers' compensation insurance in Louisiana, with an average monthly premium of $161 and a MoneyGeek rating of 94 out of 100. The company rates highly for financial stability and has a quote time of one minute and 40 seconds. However, the best option for you may vary based on various factors.

At an average of $161 per month, Thimble is the cheapest provider of workers’ compensation insurance in Louisiana. That makes the insurer our top pick for businesses on a budget, although the most affordable option may vary depending on your needs and situation.

Yes, any Louisiana business with at least one employee is legally required to have workers’ compensation insurance, although certain types of employees are exempted by federal law.

Workers' compensation insurance costs an average of $217 per month for a business with 20 employees. This is more expensive than the national average. Rates will vary depending on the employee count and payroll.

About Melissa Wylie

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Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.