To find the best workers’ compensation insurance in Rhode Island, MoneyGeek evaluated each insurer’s affordability, customer satisfaction, financial stability and online quote process. Based on these factors, The Hartford outshined other insurers in our analysis.

Rhode Island requires that employers carry workers’ comp to protect them from shouldering the cost of medical treatments and lost wages if an employee suffers a work-related injury or illness.


Best Workers’ Compensation Insurance in Rhode Island

With a MoneyGeek score of 95 out of 100, The Hartford offers the overall best workers’ compensation insurance in Rhode Island. An average policy from this insurer costs $148 per month, but this may differ based on factors unique to your business.


The HartfordBest Overall in Rhode Island




Customer Satisfaction


Financial Stability


Online Quote Process

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  • Average monthly cost of $148
  • Exceptional customer service
  • A+ rating from AM Best
More About The Hartford

For over 200 years, The Hartford has provided people and businesses with financial protection against unexpected challenges. Among its insurance products is workers’ compensation insurance for employers, which costs an average of $148 per month in Rhode Island — the second-cheapest rate in the state. The Hartford also boasts excellent customer satisfaction and financial strength. It receives the lowest rate of complaints out of five other insurers and has an A+ (Superior) financial stability rating from AM Best. Interested insurance buyers can get an online quote in roughly one and a half minutes.





Customer Satisfaction


Financial Stability


Online Quote Process

Geek Quick Take
Geek Quick Take
  • Monthly premiums average $159
  • A++ financial stability rating from AM Best
  • High customer satisfaction
More About biBERK

Founded in 2015, biBERK is a small business insurance company backed by the Berkshire Hathaway Insurance Group. It has an A++ (Superior) rating from AM Best, the highest available, signifying that biBERK can pay insurance claims without any issue. Furthermore, the company receives a low rate of customer complaints, indicating it provides excellent service. Although biBERK is not the cheapest option, its workers’ comp insurance is still affordable at about $159 per month. When getting online quotes from this insurer, expect the process to take around a minute and a half.


Cheapest Workers’ Compensation Insurance in Rhode Island

Based on our analysis, Pie Insurance offers the most affordable workers’ compensation insurance in Rhode Island at an average of $102 per month.

The amount you’ll pay for a policy depends on factors like employee count and payroll. Our winner in this category is the cheapest company for businesses with 20 employees and annual payroll costs of $1,250,000.


In the table below, we ranked insurance companies by average monthly cost to find the cheapest option in Rhode Island. However, the cheapest provider for you may vary depending on other factors.

Best Workers’ Compensation Insurance for Micro Businesses in Rhode Island

The best workers’ comp provider for Rhode Island businesses with five or fewer employees is The Hartford, costing an average of $58 per month.

Businesses with less than nine employees are considered micro businesses. While employee count affects insurance costs, payroll tends to have a more significant impact on premiums. We selected our top pick in this category by gathering quotes for a business with five employees and annual payroll costs of $312,500.


Best Workers’ Compensation Insurance for Midsize Businesses in Rhode Island

For Rhode Island businesses with 100 employees, The Hartford offers the best workers’ compensation insurance at roughly $627 per month.

Employee count and payroll play a significant role in the cost of insurance. We selected our winner by collecting quotes for a business with 100 employees and an annual payroll of $6,250,000.


How Much Is Workers’ Compensation Insurance in Rhode Island?

The average cost of workers’ comp insurance in Rhode Island for businesses with 20 employees is $179 per month, higher than the national average of $168 per month. We used a sample policy with the following limits:

  • $1 million total policy limit
  • $1 million per accident limit
  • $1 million per employee limit

The insurance provider will pay out a maximum of $1 million per any given accident and $1 million per employee, up to the total policy limit of $1 million.

Employee count and payroll amount play a significant role in the cost of workers’ comp insurance. See how the average policy price in Rhode Island changes by employee count in the table below.


Factors That Impact Workers’ Compensation Costs in Rhode Island

The cost of workers’ compensation insurance differs from one business to another based on several factors such as payroll, employee count, employee class code and claims history.


Do You Need Workers’ Compensation Insurance in Rhode Island?

In Rhode Island, businesses with one or more employees must carry workers’ compensation insurance. Sole proprietors, partners and independent contractors are exempt from having coverage. The Rhode Island Department of Labor and Training (DLT) defines an independent contractor as an individual who maintains an independent business and is available for hire.

Certain real estate, agricultural and domestic service employees may also be exempt from obtaining workers’ compensation insurance, as well as any individual appointed as a corporate officer between January 1, 1999, and December 31, 2001, who was not previously an employee of the corporation.

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Employers in Rhode Island who fail to obtain workers’ compensation coverage could be subject to civil and criminal penalties, such as:

  • A fine of $1,000 per day for each day without workers’ compensation insurance.
  • Employers are subject to a felony charge and, if convicted, face a $10,000 penalty and two years in prison.
  • Closure of business operations under the authority of the DLT Director.

What Does Workers’ Compensation Insurance Cover in Rhode Island?

Workers' compensation insurance helps cover the medical expenses of employees suffering work-related injuries or illnesses. These include hospital stays, medical treatments, medicine and rehabilitation. It also covers a portion of the income the employee loses while unable to work due to injury or illness.

For employers, workers’ compensation insurance helps avoid financial losses when an employee suffers an injury or contracts an illness in the workplace. The insurance covers medical expenses, lost wages and other costs. Additionally, workers’ comp offers protection against lawsuits by injured workers.

Workers’ Compensation Insurance Resources for Employees in Rhode Island

Employees in Rhode Island can find resources on workers’ compensation insurance through the DTL’s Workers' Compensation Division.

To receive workers’ comp benefits, employees injured on the job or have an illness caused by their workplace must first inform their employer. Then, the employer will notify their insurance provider to file a First Report of Injury with the Division of Workers' Compensation within 10 days of the injury or diagnosis. If the injury is fatal, a First Report of Injury must be filed within 48 hours.

Frequently Asked Questions About Workers’ Compensation Insurance in Rhode Island

We addressed some commonly asked questions about workers’ compensation insurance in Rhode Island to help you determine the best option for your business needs.

Which company has the best workers’ compensation insurance in Rhode Island?
Which company has the cheapest workers’ compensation insurance in Rhode Island?
Does Rhode Island require businesses to have workers’ compensation insurance?
How much does workers’ compensation insurance cost in Rhode Island?

About Melissa Wylie

Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.