NEXT is Mississippi’s best workers' compensation insurance provider, scoring 98 out of 100 points. The company has reliable customer service, lowest workers' comp rates and an extensive coverage selection. Pie and The Hartford are strong runners-up you should also consider.
Cheapest Workers' Comp Insurance in Mississippi
Updated: June 18, 2025
Advertising & Editorial Disclosure
Key Takeaways
NEXT, Pie, The Hartford, Thimble and biBerk are the best cheap workers' comp insurance providers in Mississippi.
For most small businesses in Mississippi, workers' compensation coverage costs around $892 per year or $77 per month.
Workers' comp insurance is required in Mississippi for all companies with employees to cover expenses when employees sustain injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Mississippi
| Next | 98 | $164 |
| Pie | 91 | $212 |
| The Hartford | 91 | $304 |
| Thimble | 89 | $264 |
| biBERK | 89 | $389 |
| Nationwide | 86 | $434 |
*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
Lowest rates overall
Highly rated customer service
24/7 customer support
cons
Less affordable for larger small businesses
COMPANY HIGHLIGHTS
NEXT is Mississippi's best and most affordable workers' compensation insurance provider, maintaining a 4.7 out of 5 customer rating while serving over 600,000 clients across 1,300 business types. The company delivers exceptional convenience through instant online certificate access and round-the-clock chat support.
How Much Is Workers' Comp Insurance in Mississippi?
Depending on the size of your Mississippi-based business, workers' comp rates range from $892 to $8,932 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.
| Larger small businesses | $761 | $8,932 |
| Businesses with five or less employees | $77 | $892 |
| Medium-size small businesses | $188 | $2,207 |
Factors That Impact Workers’ Compensation Costs in Mississippi
The cost of workers' compensation insurance varies for each business, depending on several factors that influence coverage costs, including business type, location, number of employees 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. This code sets the rate charged for every $100 of payroll. 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
A history of workers' compensation claims can increase your premium.
Mississippi Workers' Comp Insurance: Buyer's Guide
Navigating business insurance is often complicated. 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 Mississippi
Below are the best steps to get the best workers' comp policy 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 consider. Also, check 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 a balanced view of what's best for your business.
Do You Need Workers’ Compensation Insurance in Mississippi?
All businesses in Mississippi 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 MISSISSIPPI
Employers in Mississippi who don't provide the necessary insurance for workers or break the workers' comp laws face severe penalties such as:
- Criminal Penalties:
- Misdemeanor charges for failure to provide required workers' compensation insurance
- Fine of up to $1,000 for misdemeanor conviction
- Up to one year imprisonment
- Civil Penalties:
- Mississippi Workers' Compensation Commission can assess fines of up to $10,000 for employers who fail to secure coverage
- Fine of up to $1,000 for operating without required workers' compensation insurance
- Financial Liability:
- Corporate officers may be required to pay workers' compensation benefits out of pocket
- Risk of potential lawsuits if work-related accidents occur without coverage
- Legal Exposure:
- Mississippi workers injured on the job can immediately file claims against uninsured employers
- Loss of legal protections that workers' compensation typically provides to employers
- Additional Consequences:
- Full responsibility for workplace injury costs, medical expenses and lost wages
- Potential business closure or operational restrictions until compliance is achieved
What Does Workers’ Compensation Insurance Cover in Mississippi?
Workers' compensation insurance provides vital benefits to employees experiencing work-related injuries or illnesses. This coverage usually includes medical care, disability benefits and lost wages, paying out 66% of weekly wages according to Mississippi law. It not only safeguards employees but also protects businesses against potential legal claims related to workplace injuries or illnesses.
Best Workers' Compensation Insurance Mississippi: Bottom Line
In Mississippi, the top three best and most affordable workers' comp insurance providers are NEXT, Pie and Thimble. 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 Mississippi: FAQ
Below are answers to frequently asked questions about Mississippi workers' comp insurance from our MoneyGeek experts.
Which company has the best workers’ compensation insurance in Mississippi?
In Mississippi, NEXT offers the best workers' compensation insurance, with competitive pricing at around $164 per month and a low complaint index. However, the ideal insurance choice depends on your industry, workforce size and specific state mandates.
Does Mississippi require businesses to have workers’ compensation insurance?
In Mississippi, workers' compensation insurance is required for all businesses. However, sole proprietors, partners and corporate officers who are the sole owners can opt out of this coverage.
How much does workers’ compensation insurance cost in Mississippi?
Workers' compensation insurance for medium-sized small businesses in Mississippi costs around $188 per month.
How We Rated Workers' Comp Insurance Companies in Mississippi
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
- NEXT. "Customer Reviews." Accessed June 4, 2025.