NEXT is New Hampshire's best workers' compensation insurance provider, scoring 98 out of 100. The company offers a strong combination of reliable customer service, very low workers' comp rates and an extensive coverage selection. Nationwide and Pie are good runners-up to consider.
Cheapest Workers' Comp Insurance in New Hampshire
Updated: June 3, 2025
Advertising & Editorial Disclosure
Key Takeaways
NEXT, Nationwide, Pie, Thimble and biBerk are the best cheap workers' compensation insurance providers in New Hampshire.
For most small businesses in New Hampshire, workers' compensation coverage costs around $635 per year or $56 per month.
Workers' comp insurance is required in New Hampshire for all companies with employees to cover expenses from employees sustaining injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in New Hampshire
| Next | 98 | $107 |
| Nationwide | 93 | $179 |
| Pie | 88 | $192 |
| Thimble | 88 | $228 |
| biBERK | 89 | $265 |
| The Hartford | 87 | $344 |
*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
Most affordable overall
Excellent customer service
Great savings opportunities
cons
May lack affordability for larger businesses
Slower quotes process than some competitors
COMPANY HIGHLIGHTS
With an outstanding 4.7 out of 5.0 customer service rating that ranks second-best overall, NEXT proves its commitment to New Hampshire employers goes beyond just competitive pricing. Its most affordable workers' comp rates in the state become even better with multi-policy discounts reaching up to 10%.
How Much Is Workers' Comp Insurance in New Hampshire?
Workers' comp rates for New Hampshire businesses range from $635 to $7,260 per year. This range applies only to software development companies. Your actual rates will vary based on:
- Number of employees
- Industry risk level
- Specific work performed by employees
- Claims history
| Larger small businesses | $618 | $7,260 |
| Businesses with five or less employees | $56 | $635 |
| Medium-size small businesses | $150 | $1,765 |
Factors That Impact Workers’ Compensation Costs in New Hampshire
The cost of workers' compensation insurance varies for each business based on several factors:
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 a large number of 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 while a clean record allows for discounted rates.
New Hampshire Workers' Comp Insurance: Buyer's Guide
Finding the right business insurance can be challenging. 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 New Hampshire
Here are the steps to help your organization get the best workers' compensation policy possible:
- 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 get quotes from. Also, consider 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 inform your decision more personally.
- 4
Compare multiple providers through different means
Get multiple quotes and compare providers equally to find the best deal. Prices vary depending on how you get quotes — online comparison sites versus 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 New Hampshire?
All New Hampshire businesses must carry workers' compensation insurance. Sole proprietors, partners and corporate officers who fully own a corporation may choose to be excluded.
WORKERS’ COMP PENALTIES IN NEW HAMPSHIRE
In New Hampshire, employers who don't provide required workers' compensation insurance or follow workers' comp laws may face:
- Initial fine up to $2,500: One-time penalty for initial non-compliance with state requirements.
- Daily per-employee fines of $100: Additional penalty of $100 per employee for each day without coverage.
- Business shutdown: The State may order businesses to cease operations until proper coverage is obtained.
- Personal liability for all injury costs: Employers become financially responsible for all medical claims and death benefits.
- Personal responsibility for violations: Individuals knowingly involved in failing to obtain coverage face personal penalties.
- Reporting violation fines: A $2,500 fine can be imposed for failing to file the First Report of Injury within five days.
- Extended penalty period: Penalties apply from the first day of infraction up to one year.
- Civil penalties for additional violations: Additional costs if an employee is injured without coverage, plus any civil penalties.
What Does Workers’ Compensation Insurance Cover in New Hampshire?
Workers' compensation insurance provides essential benefits to employees with work-related injuries or illnesses. This coverage typically includes medical care, disability benefits and lost wages for affected workers, paying 60% of weekly wages under New Hampshire law. It protects employees while shielding businesses from potential legal claims related to workplace injuries or illnesses.
Best Workers' Compensation Insurance New Hampshire: Bottom Line
NEXT, Nationwide and Pie offer the best and cheapest workers' compensation insurance in New Hampshire. While we recommend these companies, compare rates and consult similar businesses in your industry to find the best deal.
Workers' Comp Insurance in New Hampshire: FAQ
Below are answers to frequently asked questions about New Hampshire workers' comp insurance from MoneyGeek experts:
Which company has the best workers’ compensation insurance in New Hampshire?
NEXT offers New Hampshire's best workers' compensation insurance with competitive pricing (averaging about $107 per month) and a low complaint index. However, your best insurance option depends on your industry, workforce size and state requirements.
Does New Hampshire require businesses to have workers’ compensation insurance?
In New Hampshire, workers' comp insurance is mandatory for all businesses, though sole proprietors, partners and corporate officers with full ownership may opt out.
How much does workers’ compensation insurance cost in New Hampshire?
On average, medium-sized small businesses in New Hampshire spend about $150 monthly on workers’ compensation insurance, below the national average of $178.
How We Rated Workers' Comp Insurance Companies in New Hampshire
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 3, 2025.