Best Workers' Comp Insurance in Maryland (2026)

The Hartford leads Maryland's workers' comp insurance market with the state's highest MoneyGeek score. All three leading providers, The Hartford, NEXT, and Nationwide, fall within the $95 to $96 per month, making service quality and industry-specific rate position the main differentiators.

The broader Maryland market spans from Nationwide at $95 per month to Chubb at $163 per month, a $68 monthly spread. Professional-sector employers in financial services, tech, and marketing gain the most from comparing providers at the lower end of that range. Construction and transportation class codes narrow the pricing gap between providers.

At $95 monthly per employee, Nationwide is the cheapest workers' comp insurance provider in Maryland by a single dollar. ERGO NEXT and The Hartford both tie at $96, following closely behind Nationwide. The top three most affordable providers are functionally equivalent on price, which shifts the decision to claims handling and coverage depth.

The spread between Nationwide at $95 and Chubb at $163 is $816 per year for the same base coverage. For a small Maryland business already carrying payroll and overhead, that gap is real money.

The Hartford and ERGO NEXT offer the cheapest workers' comp rates across most Maryland industries. The Hartford leads 13 industries and ERGO NEXT leads 10, with biBerk and Coverdash each winning one specialty category. The Hartford prices lowest for office-based industries with lower injury exposure. ERGO NEXT is the better choice for physical, trade-heavy work where injury risk runs highest.

The average rate per employee for workers' comp insurance in Maryland is $119 per month, but pricing varies widely by industry. Transportation and logistics is the most expensive industry in the state, averaging $364 per month, edging out construction at $333. The cheapest industries are beauty services and financial services, which pay just $16 monthly. That creates a 23-to-1 spread across all industries. Tech and food and beverage both land at $49 per month, a closer match than most business owners expect given how different their injury profiles are.

Maryland law requires workers' compensation insurance for any business with at least one employee, full-time or part-time. Agricultural employers with fewer than three employees or an annual payroll under $15,000 are exempt. Required coverage includes medical expenses with no dollar limits, wage replacement at two-thirds of average weekly wages and additional benefits including vocational rehabilitation and funeral expenses up to $7,000.

Businesses that don't carry workers' comp coverage experience fines up to $10,000 payable to Maryland's Uninsured Employers' Fund. Corporate officers face personal liability. Violations can also result in criminal charges, fines up to $5,000, imprisonment up to one year and business license suspension.

Most Maryland employers need coverage, but these business categories are exempt:

• Agricultural employers with fewer than three employees or annual payroll under $15,000: Small farms meeting either threshold don't need coverage for agricultural labor. Office workers at agricultural operations are exempt regardless of farm size.
• Domestic workers employed less than 40 hours per week: Nannies, housekeepers and caregivers are exempt unless they work 40 or more hours weekly for one household or earn $750 or more in any calendar quarter.
• Owner-operators of large tractor-trailer vehicles: Independent truckers who own and operate their rigs don't need Maryland coverage.
• Sole proprietors and partners in business partnerships: Business owners operating as sole proprietors or partnership owners are automatically excluded but can elect coverage at a minimum annual wage of $72,900.
• Corporate officers and LLC members: Corporate officers get automatic coverage but can file a waiver to opt out. LLC members owning 20% or more can elect exemption (minimum annual wage of $72,800, maximum of $291,200 if covered).
• Independent contractors, self-employed workers and real estate agents: These workers don't require coverage but can purchase voluntary policies.

The Hartford, ERGO NEXT and Nationwide rank as Maryland's top workers' comp insurers. Businesses should research each company's service quality, maximize discounts and select coverage that fits your budget.