Workers' Comp Insurance in North Carolina

NEXT ranks among North Carolina’s best workers' comp insurance providers, offering strong customer service and comprehensive coverage options. Small business owners in the state can also rely on Simply Business and The Hartford, both of which deliver similar levels of quality and reliability.

NEXT and Simply Business deliver exceptional coverage in North Carolina, establishing themselves as the state's premier insurance providers for small business owners with workers' comp requirements.

North Carolina businesses can secure affordable workers' comp insurance from NEXT at $59 monthly ($710 annually). The Hartford and Thimble offer competitive alternatives at $61 per month each. With just a few dollars separating these options, North Carolina business owners have multiple affordable choices:

Workers' compensation insurance in North Carolina costs businesses an average of $64 per month or $764 annually. North Carolina's rates run $10 below the national monthly average of $74. Your business's actual premium will vary based on industry risk level, number of employees, total payroll and claims history.

In North Carolina, workers' comp insurance costs vary dramatically by industry risk level. Speech therapists pay the lowest premiums at $5 per month, while roofing companies pay substantially higher rates at $730 monthly. This difference reflects the varying workplace injury risks across professions in North Carolina.

In North Carolina, businesses with three or more employees must carry workers' compensation insurance. This coverage pays for medical expenses and lost wages if employees get hurt or sick because of their job. Companies working with radiation must have coverage regardless of size.

Employers who don't follow these requirements pay daily fines of $1 per employee, plus additional penalties up to $100 per day. North Carolina can also pursue criminal charges, except if your situation qualifies you for an exemption.

While North Carolina workers' comp seems complicated, you can get coverage that protects your employees while keeping the cost of business insurance manageable. These steps let you get business insurance that fits your workers' comp needs.

North Carolina businesses have access to several outstanding workers' compensation insurance providers. Our analysis shows NEXT Insurance, Simply Business and The Hartford lead the pack in serving North Carolina companies. Consider getting quotes from these providers and compare their offerings based on your specific industry needs, company size and available budget.

 Here are answers to the most common questions to help you find coverage.

• Affordability (50%): Cost plays a major role in every small business insurance decision, especially in North Carolina’s competitive market. We compared monthly premiums from multiple insurers, since even the most comprehensive policy isn’t useful if it’s too expensive.
• Customer experience (30%): When an employee is injured, it’s important to have an insurer that handles claims quickly and fairly. Our review included J.D. Power ratings, North Carolina Department of Insurance complaint data and independent customer feedback.
• Coverage options (15%): We examined each company’s policy flexibility, available add-ons and coverage limits for North Carolina industries and businesses subject to specific state regulations.
• Financial strength (5%): A low premium doesn’t mean much if the insurer can’t pay claims. We reviewed AM Best ratings to confirm each company’s ability to meet its financial commitments.