While Thimble and biBerk offer strong alternatives worth considering, Pie has the best workers' comp insurance in Nevada, with an exceptional 94 out of 100 rating. Their winning combination includes dependable customer service, the lowest rates in the state, and comprehensive coverage options.
Cheapest Workers' Comp Insurance in Nevada
Updated: June 4, 2025
Advertising & Editorial Disclosure
Key Takeaways
Pie, Thimble, biBerk, and Nationwide are the best cheap workers' comp insurance providers in Nevada.
Workers' compensation coverage costs an average of $1,176 per year or $98 per month for most small businesses in Nevada.
Workers' comp insurance is required in Nevada for all companies with employees to cover expenses from employees sustaining injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Nevada
| Pie | 94 | $323 |
| Thimble | 94 | $357 |
| biBerk | 90 | $549 |
| Nationwide | 86 | $703 |
*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.
Best Cheap Nevada Workers' Comp Insurance by Business Size
Regardless of your business's size, Pie still retains the title of the best workers' compensation insurance in Nevada with the most affordable rates. Below you can review the company's rates for small, medium, and large small businesses.
| Pie | Businesses with five or less employees | $63 |
| Pie | Medium-size small businesses | $174 |
| Pie | Larger small businesses | $781 |
Pie: Best Overall
pros
Lowest rates regardless of business size
Great financial strength rating
Business only focus
cons
Lower customer satisfaction ratings
COMPANY HIGHLIGHTS
Nevada businesses save an average of $34 monthly with Pie compared to the next most affordable workers' compensation provider, making them the top choice for cost-conscious employers. This financial advantage combines with its A- AM Best rating and dedicated business insurance focus to offer exceptional overall value.
How Much Is Workers' Comp Insurance in Nevada?
Nevada's workers' comp pricing reflects diverse business needs, with software development companies alone seeing annual costs between $1,103 and $13,826. Your business will encounter different rates based on workforce size, industry risk profile, employee job functions, and claims history.
| Businesses with five or less employees | $98 | $1,103 |
| Medium-size small businesses | $269 | $3,090 |
| Larger small businesses | $1,155 | $13,826 |
Factors That Impact Workers’ Compensation Costs in Nevada
The cost of workers' compensation insurance varies for each business, depending on several factors that influence coverage costs including the following: industry type, business size, location and claims history.
Payroll costs
Workers' compensation premiums are calculated per $100 of payroll, creating a direct relationship between workforce costs and insurance expenses. Companies with larger wage bills automatically face higher premiums than businesses with smaller payroll expenditures.
Number of employees
Insurance companies raise premiums for businesses with large employee counts because more workers create greater exposure to workplace injuries. The actuarial risk simply increases with workforce size.
Employee class code
Class codes serve as the foundation for workers' comp pricing by identifying employee job functions and setting corresponding rates for every $100 of payroll. The system creates substantial rate variations, with hazardous fields like manufacturing and construction paying considerably more than office-based industries like accounting and consulting.
Previous claims
Workers' compensation insurers employ experience rating systems that track your claims history over three to five years, using this data to modify your base premium. Frequent claims, high-dollar settlements, or patterns of similar injuries signal increased risk to insurers.
Nevada Workers' Comp Insurance: Buyer's Guide
Navigating business insurance is often a complicated task, so 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 Nevada
Below we detail the best steps to take to ensure you get the best workers' comp policy possible for your organization.
- 1
Learn about required coverages and options
Consult with a business insurance agent before purchasing workers' comp coverage to ensure you secure appropriate protection without overpaying or leaving gaps in your coverage. State regulations differ significantly across jurisdictions, and your optimal coverage level depends on industry-specific risks, company size, workforce composition, and historical claims patterns.
- 2
Research costs and providers
Explore state-provided workers' comp programs and self-insurance possibilities before focusing on private carriers, as these alternatives may offer better rates or coverage for your situation. Once you understand all available options, research industry-specific costs and provider reputations to create a targeted list of companies worth requesting quotes from.
- 3
Consult similar businesses
Seek out firsthand experiences from other business owners by asking about their workers' compensation successes, challenges, and lessons learned with different providers. Focus particularly on companies with similar operations, employee counts, and risk profiles to ensure the insights you gather are most relevant to your decision-making process.
- 4
Compare multiple providers through different means
Get multiple quotes 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 Nevada?
The state enforces universal workers' compensation insurance requirements across all business operations, though certain owner-operators can request exclusion from this mandate. Only sole proprietors, partners, and corporate officers with complete ownership qualify for exemption.
WORKERS’ COMP PENALTIES IN NEVADA
Nevada business owners must prioritize workers' compensation compliance to protect their operations from severe state-imposed penalties. Nevada's enforcement of these insurance requirements can result in substantial fines and business disruptions for non-compliant employers:
- Administrative fines up to $15,000 - Charged by the Division of Industrial Relations, Workers' Compensation Section.
- Business shutdown - Stop-work order until coverage is obtained and compliance is restored.
- Personal liability for all injury costs - Employers become financially responsible for all workplace injury expenses without insurance protection.
- Employee lawsuits - Injured workers can file civil court lawsuits to recover damages when no coverage exists.
- Premium penalties - Additional premium-based penalties on top of administrative fines.
- Criminal penalties for serious cases - Potential criminal charges if serious injuries or deaths occur without coverage.
- Loss of exclusive remedy protection - Without workers' comp, employers lose legal protections and face full lawsuit exposure.
What Does Workers’ Compensation Insurance Cover in Nevada?
Workers' compensation insurance provides vital benefits to employees experiencing work-related injuries or illnesses. This coverage usually encompasses medical care, disability benefits, lost wages and more for impacted workers, paying out 66% of weekly wages according to Nevada law.
Best Workers' Compensation Insurance Nevada: Bottom Line
The top three best and cheapest workers' comp insurance providers in Nevada are Pie, Thimble, and biBerk. While these companies are our recommendations, we urge you to compare rates for yourself and consult similar businesses in your industry to get the best deal.
Workers' Comp Insurance in Nevada: FAQ
Below are answers to frequently asked questions about Nevada workers' comp insurance from our MoneyGeek experts.
Which company has the best workers’ compensation insurance in Nevada?
In Nevada, Pie surpasses its competition thanks to its competitive pricing (averaging around $174 per month) and low complaint index. However, selecting the best insurance for your needs will depend on various aspects, including your industry, the size of your workforce and particular state requirements.
Which company has the cheapest workers’ compensation insurance in Nevada?
Pie is the most cost-effective workers' comp insurance provider in Nevada for businesses with 5 or less employees. For medium-sized small businesses, Pie offers the cheapest rates, and for large small businesses, Pie provides the most affordable workers' compensation insurance.
Does Nevada require businesses to have workers’ compensation insurance?
Yes, Nevada mandates workers' compensation insurance for businesses, but there are exemptions for certain individuals.
In Nevada, workers' compensation insurance is a legal requirement for all businesses, but sole proprietors, partners, and fully owning corporate officers can opt out of coverage.
How much does workers’ compensation insurance cost in Nevada?
On average, medium-sized businesses in Nevada spend around $269 per month on workers' compensation insurance.
How We Rated Workers' Comp Insurance Companies in Nevada
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.