Your workers' comp rates in New Jersey depend on your industry and team size. Find answers to common coverage questions below.
Best Workers' Comp Insurance in New Jersey
With rates starting at $6 monthly, NEXT, The Hartford and Simply Business offer the cheapest and best workers' comp insurance in New Jersey.
Compare top New Jersey workers’ comp insurance providers and find your ideal coverage.
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Updated: November 24, 2025
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Best New Jersey Workers' Comp Insurance: Fast Answers
What are the best and cheapest workers' comp insurance providers in New Jersey?
NEXT offers the top cheap workers' compensation insurance in New Jersey. The following are the state's cheapest and best workers' comp insurance providers and their average monthly rates:
- NEXT: $78
- The Hartford: $78
- Simply Business: $80
- Coverdash: $82
- biBerk: $85
Is workers' comp insurance required in New Jersey?
New Jersey mandates workers' comp insurance for most employers with employees. The state requires coverage immediately when you hire your first worker, including part-time staff. Sole proprietors without employees are exempt, as are independent contractors meeting specific criteria. Violations result in stop-work orders, fines up to $5,000 per day and potential criminal penalties.
How much does workers' comp insurance cost in New Jersey?
Workers' compensation insurance costs in New Jersey run $42 monthly per employee for a two-person business. Pricing varies based on your industry and payroll size. The most affordable coverage serves speech therapists at $3 per employee monthly, while roofing contractors face the steepest rates at $469 monthly per employee.
How do you get workers' comp insurance in New Jersey?
You can get workers' comp coverage in New Jersey by:
- Purchasing coverage from licensed private insurance companies operating in the state
- Buying policies through independent insurance agents or brokers who represent multiple carriers
- Securing coverage directly from insurance company websites or online marketplaces
Many business owners compare quotes online or through brokers to get the best rate and compliance support.
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What does New Jersey workers' comp insurance cover?
Workers' compensation in New Jersey covers:
- Medical expenses for job-related injuries, like a Newark construction worker's fall or a Trenton factory employee's repetitive stress injury
- Wage replacement benefits during recovery periods
- Permanent disability payments for lasting impairments
- Death benefits for families of workers killed in workplace accidents
Best Workers' Comp Insurance Companies in New Jersey
NEXT leads our research for workers' comp insurance in New Jersey, delivering top-tier customer support and comprehensive coverage options that protect businesses thoroughly. The Hartford and Simply Business rank as excellent alternatives, both providing reliable protection for local small business owners.
| NEXT Insurance | 4.60 | $78 | 1 | 2 |
| The Hartford | 4.58 | $78 | 2 | 3 |
| Simply Business | 4.53 | $80 | 5 | 1 |
| Coverdash | 4.45 | $82 | 6 | 2 |
| biBERK | 4.43 | $85 | 2 | 5 |
| Nationwide | 4.42 | $92 | 2 | 4 |
| Progressive Commercial | 4.40 | $81 | 7 | 5 |
| Thimble | 4.40 | $79 | 8 | 5 |
| Hiscox | 4.38 | $81 | 4 | 6 |
| Chubb | 4.25 | $96 | 3 | 4 |
How Did We Determine These Rates and Rankings?
These rates are estimates based on MoneyGeek's analysis of small businesses with two employees across 79 major industries. Actual rates vary based on your business location, industry risk factors, claims history, coverage limits and individual insurer underwriting criteria. Contact insurers directly for personalized quotes.
Get Matched to Top Workers' Comp Insurers in New Jersey
Select your industry and state to get a customized New Jersey workers' comp quote from your top provider match.
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LEARN MORE ABOUT THE BEST BUSINESS INSURANCE IN NEW JERSEY
Explore the best business insurance providers in New Jersey through our guides:
Best New Jersey Workers’ Comp Insurance Company Reviews
We evaluated workers' comp providers across New Jersey to find the best options for businesses.
NEXT
Best Workers' Comp Insurance in New Jersey
MoneyGeek Rating
4.6/ 5
4.4/5Affordability
4.7/5Customer Experience
4.8/5Coverage Points
Average Monthly Workers' Comp Premium
$78Based on average costs for New Jersey businessesWorkers' Comp Digital Experience Score
4.8/5 (1st)Rating from MoneyGeek customer satisfaction surveyWorkers' Comp Customer Likelihood to Be Recommended to Others Score
4.8/5 (1st)Percentage of current customers who would recommend NEXT Insurance
The Hartford
Best New Jersey Workers' Comp Insurance: Runner-Up
MoneyGeek Rating
4.6/ 5
4.5/5Affordability
4.6/5Customer Experience
4.7/5Coverage Points
Average Monthly Workers' Comp Premium
$78Based on average costs for small business coverage in New JerseyWorkers' Comp Claims Process Score
4.5/5 (1st)Rating from MoneyGeek's customer satisfaction surveyWorkers' Comp Customer Likelihood to Be Recommended to Others Score
4.5/5 (2nd)Percentage of customers who would recommend The Hartford
Cheapest Workers' Comp Insurance Companies in New Jersey
The Hartford offers New Jersey's most affordable workers' comp insurance at just $78 per month ($ 936 annually), providing $5 back in your pocket each month compared to the state's average rates. That translates to 6% in savings over typical coverage costs.
NEXT and Thimble round out the top 3 most affordable options, with monthly premiums of $78 and $79, respectively. Both carriers keep your costs well under $80 monthly while providing solid coverage.
The table below shows costs from all companies we analyzed.
| The Hartford | $78 | $937 |
| NEXT Insurance | $78 | $940 |
| Thimble | $79 | $952 |
| Simply Business | $80 | $961 |
| Hiscox | $81 | $968 |
| Progressive Commercial | $81 | $968 |
| Coverdash | $82 | $989 |
| biBERK | $85 | $1,015 |
| Nationwide | $92 | $1,106 |
| Chubb | $96 | $1,152 |
How Did We Determine These Rates?
These rates represent small businesses with two employees across 79 major industries and focus solely on workers' comp policies. Your actual premium depends on your business location, industry, employee count, claims history, coverage limits and other factors insurers consider.
Cheapest Workers' Comp in New Jersey by Industry
The Hartford offers the cheapest workers' comp rates, starting at $10 monthly for home-based businesses. The Hartford leads affordability across 27 industries, including accountants, advertising and wedding planning. NEXT ranks second, dominating 23 industries like automotive, auto repair and bakery services.
| Automotive | NEXT Insurance | $122 | $1,463 |
| Accountants | The Hartford | $21 | $253 |
| Ad Agency | The Hartford | $16 | $195 |
| Auto Repair | NEXT Insurance | $157 | $1,885 |
| Bakery | Thimble | $55 | $665 |
| Beauty Salon | The Hartford | $15 | $182 |
| Barber | NEXT Insurance | $15 | $177 |
| Candle | NEXT Insurance | $42 | $503 |
| Bounce House | The Hartford | $41 | $492 |
| Catering | biBERK | $84 | $1,014 |
| Cannabis | The Hartford | $85 | $1,025 |
| Coffee Shop | The Hartford | $49 | $592 |
| Cleaning | The Hartford | $51 | $612 |
| Construction | The Hartford | $185 | $2,216 |
| Computer Programming | NEXT Insurance | $29 | $351 |
| Computer Repair | NEXT Insurance | $25 | $303 |
| Contractor | Simply Business | $174 | $2,087 |
| Consulting | Progressive Commercial | $31 | $377 |
| Courier | The Hartford | $233 | $2,798 |
| Dental | Progressive Commercial | $12 | $141 |
| Daycare | NEXT Insurance | $14 | $166 |
| DJ | Thimble | $15 | $174 |
| Drone | Thimble | $29 | $346 |
| Dog Grooming | Chubb | $85 | $1,016 |
| Ecommerce | NEXT Insurance | $23 | $274 |
| Engineering | Simply Business | $40 | $485 |
| Electrical | NEXT Insurance | $60 | $720 |
| Florist | NEXT Insurance | $65 | $784 |
| Excavation | Progressive Commercial | $113 | $1,354 |
| Food | The Hartford | $44 | $532 |
| Food Truck | Progressive Commercial | $47 | $568 |
| Gardening | Progressive Commercial | $50 | $596 |
| Funeral Home | The Hartford | $27 | $329 |
| Home-based | The Hartford | $10 | $124 |
| Handyman | Thimble | $99 | $1,183 |
| HVAC | NEXT Insurance | $66 | $792 |
| Hospitality | Nationwide | $87 | $1,050 |
| Janitorial | NEXT Insurance | $51 | $610 |
| Lawn/Landscaping | The Hartford | $39 | $473 |
| Jewelry | The Hartford | $32 | $380 |
| Junk Removal | NEXT Insurance | $151 | $1,807 |
| Lawyers | The Hartford | $55 | $665 |
| Marine | The Hartford | $157 | $1,886 |
| Manufacturing | NEXT Insurance | $61 | $733 |
| Mortgage Broker | The Hartford | $14 | $170 |
| Massage | NEXT Insurance | $16 | $186 |
| Painting | NEXT Insurance | $147 | $1,761 |
| Moving | NEXT Insurance | $277 | $3,323 |
| Nonprofit | The Hartford | $33 | $400 |
| Party Rental | Thimble | $39 | $466 |
| Pet | The Hartford | $32 | $386 |
| Personal Training | Thimble | $26 | $314 |
| Pest Control | Nationwide | $87 | $1,042 |
| Pharmacy | Chubb | $8 | $100 |
| Physical Therapy | Nationwide | $8 | $102 |
| Photography | The Hartford | $17 | $208 |
| Plumbing | Chubb | $84 | $1,006 |
| Real Estate | NEXT Insurance | $31 | $376 |
| Pressure Washing | NEXT Insurance | $90 | $1,075 |
| Retail | Simply Business | $37 | $443 |
| Restaurant | The Hartford | $68 | $814 |
| Snack Bars | The Hartford | $46 | $553 |
| Roofing | The Hartford | $870 | $10,435 |
| Security | NEXT Insurance | $55 | $660 |
| Software | Progressive Commercial | $28 | $333 |
| Speech Therapist | Hiscox | $6 | $78 |
| Spa/Wellness | NEXT Insurance | $18 | $217 |
| Tech/IT | Thimble | $29 | $348 |
| Startup | The Hartford | $14 | $163 |
| Travel | Nationwide | $9 | $104 |
| Transportation | Thimble | $242 | $2,899 |
| Tree Service | Thimble | $232 | $2,788 |
| Veterinary | Simply Business | $21 | $248 |
| Trucking | NEXT Insurance | $282 | $3,380 |
| Tutoring | Simply Business | $11 | $126 |
| Tutoring | NEXT Insurance | $11 | $126 |
| Wholesale | The Hartford | $41 | $491 |
| Wedding Planning | The Hartford | $29 | $350 |
| Welding | Progressive Commercial | $122 | $1,470 |
| Window Cleaning | The Hartford | $221 | $2,649 |
How Much Is Workers' Comp Insurance in New Jersey?
New Jersey workers' comp insurance cost averages $83 monthly ($999 annually), running $9 higher than the national average of $74. Industry rates vary from $7 per month ($3 per employee) for speech therapists to $937 per month ($469 per employee) for roofers.
| Accountants | $23 | $276 |
| Ad Agency | $18 | $216 |
| Auto Repair | $173 | $2,073 |
| Automotive | $134 | $1,608 |
| Bakery | $60 | $718 |
| Barber | $16 | $191 |
| Beauty Salon | $16 | $197 |
| Bounce House | $45 | $542 |
| Candle | $45 | $542 |
| Cannabis | $95 | $1,136 |
| Catering | $83 | $998 |
| Cleaning | $55 | $665 |
| Coffee Shop | $53 | $641 |
| Computer Programming | $32 | $386 |
| Computer Repair | $27 | $327 |
| Construction | $203 | $2,441 |
| Consulting | $34 | $409 |
| Contractor | $188 | $2,257 |
| Courier | $256 | $3,068 |
| DJ | $16 | $188 |
| Daycare | $15 | $181 |
| Dental | $13 | $151 |
| Dog Grooming | $74 | $889 |
| Drone | $31 | $366 |
| Ecommerce | $25 | $297 |
| Electrical | $65 | $781 |
| Engineering | $43 | $521 |
| Excavation | $121 | $1,451 |
| Florist | $69 | $833 |
| Food | $48 | $574 |
| Food Truck | $52 | $619 |
| Funeral Home | $30 | $361 |
| Gardening | $53 | $640 |
| HVAC | $71 | $851 |
| Handyman | $106 | $1,267 |
| Home-based | $11 | $137 |
| Hospitality | $79 | $948 |
| Janitorial | $55 | $661 |
| Jewelry | $34 | $410 |
| Junk Removal | $160 | $1,918 |
| Lawn/Landscaping | $43 | $510 |
| Lawyers | $59 | $714 |
| Manufacturing | $67 | $802 |
| Marine | $169 | $2,029 |
| Massage | $17 | $199 |
| Mortgage Broker | $16 | $186 |
| Moving | $297 | $3,568 |
| Nonprofit | $36 | $429 |
| Painting | $159 | $1,909 |
| Party Rental | $41 | $497 |
| Personal Training | $28 | $338 |
| Pest Control | $79 | $947 |
| Pet | $35 | $416 |
| Pharmacy | $7 | $86 |
| Photography | $19 | $230 |
| Physical Therapy | $8 | $93 |
| Plumbing | $73 | $878 |
| Pressure Washing | $95 | $1,140 |
| Real Estate | $34 | $405 |
| Restaurant | $72 | $862 |
| Retail | $40 | $477 |
| Roofing | $937 | $11,247 |
| Security | $59 | $708 |
| Snack Bars | $49 | $593 |
| Software | $30 | $358 |
| Spa/Wellness | $20 | $236 |
| Speech Therapist | $7 | $82 |
| Startup | $15 | $177 |
| Tech/IT | $31 | $373 |
| Transportation | $262 | $3,147 |
| Travel | $8 | $95 |
| Tree Service | $251 | $3,010 |
| Trucking | $305 | $3,655 |
| Tutoring | $11 | $136 |
| Veterinary | $22 | $267 |
| Wedding Planning | $32 | $385 |
| Welding | $132 | $1,582 |
| Wholesale | $45 | $544 |
| Window Cleaning | $238 | $2,858 |
New Jersey Workers' Comp Insurance Cost Factors
These cost factors affect workers' compensation insurance rates in New Jersey:
NJCRIB Mandated Base Rates
New Jersey is not a true competitive rating state, with all base manual rates determined and mandated by NJCRIB. Unlike most states where insurers compete by setting their own base rates, New Jersey requires all carriers to use identical state-mandated rates for each job classification, meaning you can't shop for dramatically different base prices between carriers.
Limited Insurer Flexibility
Insurers can adjust your final premium up or down by a maximum of 15% based on your business's unique characteristics. Documented safety programs, management experience and loss control measures can earn you credits that reduce your premium, while poor safety protocols or high-risk operations may result in debits that increase your cost.
Recent Attorney Fee Cap Increase
In August 2024, legislation raised the attorney fee cap in workers' compensation cases from 20% to 25%, with employers and insurers covering 60% of those attorney fees. This legislative change directly increases claim costs, and since workers' comp premiums are calculated to cover anticipated claim costs including legal expenses, this gets factored into the rates you pay.
2025 Benefit Rate Increases
Effective January 1, 2025, the maximum weekly benefit changed from $1,131 to $1,159, while the minimum weekly benefit changed from $302 to $309. When benefit levels increase, insurers must pay more to injured workers for temporary disability and permanent disability, resulting in a premium level adjustment factor of 0.9% due to benefits that gets passed through to employers.
Recent Rate Decrease Trend
The Commissioner of Banking and Insurance approved a 6.9% statewide average decrease in rates for 2025, continuing the downward trend after 3.9% for 2024, 6.1% for 2023 and 5.3% for 2022. Better workplace safety, improved medical cost management and fewer severe claims across New Jersey businesses contributed to these decreases, translating to lower premiums than previous years.
NJCRIB State Fund and Assigned Risk Program
NJCRIB manages the State Fund and Assigned Risk programs for employers unable to purchase workers comp insurance from a private carrier. If your business operates in a high-risk industry, has poor claims history or has been rejected by private insurers, you'll be placed in New Jersey's assigned risk pool, which typically has higher rates than the voluntary market.
How Much Workers' Comp Insurance Do I Need in New Jersey?
New Jersey law requires workers' compensation coverage for all employers with employees, including corporations, partnerships, LLCs and sole proprietorships. Your policy covers all eligible workers, with amounts determined by your annual payroll and industry classification code assigned by NJCRIB.
Operating without required workers' compensation coverage brings serious consequences. You face penalties up to $5,000 for the first 10 days and another $5,000 for each additional 10-day period. If willful, this becomes a fourth-degree crime. Corporate officers are personally liable, and you cannot discharge these penalties through bankruptcy.
New Jersey Workers' Comp Insurance Exemptions
While you're required to have coverage in New Jersey, some business categories are exempt from workers' comp requirements:
- Corporate officers must be covered: New Jersey stands apart from many states by requiring all corporate officers to carry workers' compensation insurance. You can't opt out based on ownership percentage or file for exemption.
- No exemption forms to file: If you qualify for an exemption in New Jersey, it applies automatically. You don't need to notify the state or submit paperwork, which simplifies things for small business owners.
- Partners and LLC members are exempt: Business partners and LLC members don't need coverage for themselves, though you must cover any employees you hire. You can add yourself to the policy voluntarily if you want protection.
- Sole proprietors and self-employed individuals without staff: Running your business solo means you're exempt from workers' compensation requirements. This changes the moment you hire your first employee.
- Independent contractors working alone: An independent contractor with no employees doesn't need coverage. Make sure your workers meet the ABC test for proper classification, as misclassification carries steep penalties in New Jersey.
- Unpaid volunteers and interns: People donating their time without compensation aren't covered under New Jersey workers' compensation laws. Unpaid intern rules vary across states.
FEDERAL WORKERS' COMP PROGRAMS OVERRIDE STATE REQUIREMENTS
Workers covered by federal programs can't file claims under New Jersey's workers' compensation system. Federal employees receive benefits through FECA instead of state coverage. Maritime workers at New Jersey's ports and harbors fall under the Longshore and Harbor Workers' Compensation Act when working on navigable waters or adjoining dock areas. Railroad workers use the Federal Employers' Liability Act, which requires proving employer negligence rather than providing no-fault benefits. Independent contractors and unpaid volunteers remain exempt nationwide.
How to Get the Best Workers' Comp Insurance in New Jersey
Getting workers' comp coverage with the right provider at competitive rates means matching your industry's specific risks with appropriate protection levels.
- 1Determine if you need workers' comp coverage in New Jersey
Check if your business structure qualifies for an exemption under New Jersey law. Running a solo web design business as a sole proprietor means you're exempt, but adding one employee changes everything. New Jersey uses the ABC test to determine worker classification, which often reclassifies people you consider independent contractors as employees who need coverage.
- 2Gather your business information
Pull together your employee count, total annual payroll and NJCRIB classification codes before shopping for quotes. The New Jersey Compensation Rating and Inspection Bureau sets all premium rates and maintains its own classification system, separate from the NCCI codes used in most other states.
Getting these numbers right protects you from audit surprises and coverage gaps. Wrong payroll figures or misclassified workers lead to unexpected bills later or discovering you're not covered when filing a claim.
- 3Request workers' comp quotes from multiple carriers
Shop at least three insurers to compare the cost of your coverage accurately. New Jersey offers an Assigned Risk Plan through NJCRIB for businesses that private carriers won't insure, but assigned risk coverage carries surcharges of 15% to 35% above standard premiums. Comparing multiple quotes helps you avoid the assigned risk pool and find better business insurance costs.
- 4Research providers with industry experience
Look past the quoted price to find carriers who understand your specific industry risks and New Jersey's classification requirements. Construction companies gain more from insurers experienced with high-risk work and federal OSHA compliance than from affordable business insurance providers handling general commercial accounts. Federal OSHA covers all New Jersey private sector employers.
- 5Evaluate your top provider options
Compare service quality and New Jersey-specific features to find the best insurance for your business:
- Check claim processing speeds, customer ratings and complaint histories with the New Jersey Department of Banking and Insurance
- Ask whether the carrier offers safety consultation services, which New Jersey provides free through its On-Site Consultation Program
- Verify experience with experience modification rate management, since New Jersey employers qualify for experience rating once they generate $6,000 in premium over three years
- Look for value-adds like return-to-work programs and safety training that control your long-term costs
- 6Review and purchase your workers' compensation policy
Read your policy terms closely, focusing on coverage limits, exclusions and renewal conditions specific to New Jersey regulations. Pick payment options matching your cash flow, like pay-as-you-go workers' comp for seasonal operations. New Jersey workers' compensation rates rank among the highest nationally, running about 92% above the median.
- 7Reassess before annual renewal
Check how your business changed before renewal time. Update employee numbers, review filed claims and examine your experience modification rate from NJCRIB.
Businesses evolve throughout the year. New employees, bigger facilities or expanded services affect your coverage needs and costs. Keeping your insurer informed prevents undercoverage and overpayment. NJCRIB revises base manual rates each calendar year, with insurance companies able to apply credits and debits up to 15% to adjust your premiums.
Best New Jersey Workers' Compensation Insurance: Bottom Line
NEXT, The Hartford and Simply Business rank as New Jersey's top workers' comp insurers. Research each company's service quality, maximize discounts and select coverage that fits your budget.
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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- Insurance Journal. "New Jersey Workers' Compensation Rates to Drop 6.9% for 2025." Accessed December 3, 2025.
- New Jersey Compensation Rating and Inspection Bureau. "NJCRIB: Revised Rates and Rating Values Effective January 1, 2025." Accessed December 3, 2025.
- New Jersey Department of Labor and Workforce Development. "NJ Department of Labor and Workforce Development Announces New Benefit Rates for 2025." Accessed December 3, 2025.
- New Jersey Department of Labor and Workforce Development. "Workers' Compensation | Rates and Statistics." Accessed December 3, 2025.
- New Jersey Department of Labor and Workforce Development. "NJ Department of Labor and Workforce Development Announces New Benefit Rates for 2025." Accessed December 3, 2025.
- New Jersey Department of Labor and Workforce Development. "Workers' Compensation | Protections for Injured Workers." Accessed December 3, 2025.
- New Jersey Department of Labor and Workforce Development. "Workers' Compensation | Requirements for Employers." Accessed December 3, 2025.
- New Jersey Legislature. "2024 New Jersey Revised Statutes :: Title 34 :: Section 34:15-79 - Penalties for Failure to Carry Insurance." Accessed December 3, 2025.
- Risk & Insurance. "New Jersey Workers' Compensation Medical Cost Trends in 2024. How to Improve the Trend." Accessed December 3, 2025.