The best workers' compensation insurance provider in Oklahoma, according to our MoneyGeek study, is NEXT, with an overall score of 98 out of 100. However, Pie and biBerk are also great options for workers' comp policies. Each of these options provides reliable customer service, very low workers' comp rates, and a large coverage selection.
Cheapest Workers' Comp Insurance in Oklahoma
Updated: June 4, 2025
Advertising & Editorial Disclosure
Key Takeaways
NEXT, Pie, biBerk, The Hartford and Thimble are the best cheap workers' comp insurance providers in Oklahoma.
Workers' compensation coverage costs an average of $917 per year or $76 per month for most small businesses in the state.
Workers' comp insurance is required in Oklahoma for all companies with employees to cover expenses from employees sustaining injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Oklahoma
| NEXT | 98 | $135 |
| Pie | 89 | $225 |
| biBerk | 89 | $371 |
| The Hartford | 89 | $372 |
| Thimble | 83 | $410 |
*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
Best overall rates
Highly rated customer service
Get quotes instantly through the website
cons
Not the most affordable in Oklahoma for larger businesses
COMPANY HIGHLIGHTS
NEXT distinguishes itself in Oklahoma's workers' compensation market through instant certificate access and 24/7 chat support, while serving an impressive 600,000+ clients across 1,300 business categories. Their premier ranking stems from competitive $135 average monthly rates saving you $90 per month compared to the 2nd most affordable competitor, combined with an outstanding 4.7-star customer satisfaction rating.
How Much Is Workers' Comp Insurance in Oklahoma?
For software development companies in Oklahoma, workers' comp rates range from $917 to $9,732 annually. However, this only represents software development companies, and your rates will change depending on the risk of your industry, the work your employees do individually, and your claims history.
| Businesses with five or less employees | $81 | $917 |
| Medium-size small businesses | $172 | $1,978 |
| Larger small businesses | $840 | $9,732 |
Factors That Impact Workers’ Compensation Costs in Oklahoma
The cost of workers' compensation insurance varies for each business, depending on several factors that influence coverage costs including the following:
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.
Oklahoma 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 Oklahoma
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
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 on equal terms 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 Oklahoma?
Workers' compensation insurance has a state-wide business requirement with few exceptions. Only sole proprietors, partners, and corporate officers maintaining full ownership qualify for exemption from this otherwise universal insurance obligation.
WORKERS’ COMP PENALTIES IN OKLAHOMA
Employers in the Sooner State who don't follow the rules for workers' comp insurance could face big penalties. This is what they could be up against:
- Daily fines up to $1,000 - Up to $1,000 per day without coverage for employers required to have insurance.
- Misdemeanor charges - Employers can be charged with a misdemeanor and subjected to fines.
- Business shutdown after two violations - Commissioner of Labor can order cessation of business activities until insurance is procured after two citations.
- Court-ordered business closure - Work-stop order that lasts until business purchases coverage and pays all penalties.
- Civil penalties - Civil penalties may be assessed in addition to daily fines.
- Personal liability for injury costs - Employers liable for workplace injuries and illnesses, including medical bills and lost wages.
- Liability in district court - Liability in district court in negligence action maintained by employee.
- Court order prohibiting employment - Potential court order prohibiting employer from engaging in further employment until full payment of civil penalties.
- Loss of exclusive remedy protection - Without coverage, business owners lose protection from employee lawsuits and could face civil litigation.
What Does Workers’ Compensation Insurance Cover in Oklahoma?
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 70% of weekly wages according to Oklahoma law.
Best Workers' Compensation Insurance Oklahoma: Bottom Line
In Oklahoma, the best and most affordable workers' comp insurance providers are NEXT, Pie, 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 Oklahoma: FAQ
Below are answers to frequently asked questions about Oklahoma workers' comp insurance from our MoneyGeek experts.
Which company has the best workers’ compensation insurance in Oklahoma?
In Oklahoma, NEXT surpasses its competition thanks to its competitive pricing (averaging around $135 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 Oklahoma?
Pie is the most cost-effective workers' comp insurance provider in Oklahoma for businesses with 5 or fewer employees. For medium-sized small businesses, Pie offers the cheapest rates, while larger small businesses will find Pie to be the most affordable option for their needs.
Does Oklahoma require businesses to have workers’ compensation insurance?
Yes, Oklahoma mandates workers' compensation insurance for all businesses, with certain exceptions for specific ownership structures.
In Oklahoma, all businesses are required to carry workers' compensation insurance, though there are exemptions for sole proprietors, partners, and fully-owning corporate officers.
How much does workers’ compensation insurance cost in Oklahoma?
The average monthly cost for workers' compensation insurance for medium-sized businesses in Oklahoma is $172.
How We Rated Workers' Comp Insurance Companies in Oklahoma
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.
- CompsourceMutual. "Protecting People Above All Else." Accessed June 4, 2025.