NEXT is Utah’s best worker’s compensation insurance provider, scoring almost a perfect rating with 98 out of 100 points. NEXT offers good customer service, very low workers' comp rates and a large coverage selection. However, Pie and Thimble are good runners-up that you should also consider for coverage.
Cheapest Workers' Comp Insurance in Utah
Updated: June 3, 2025
Advertising & Editorial Disclosure
Key Takeaways
NEXT, Pie, Thimble, The Hartford and biBerk are the best cheap workers' comp insurance providers in Utah.
For most small businesses in Utah, workers' compensation coverage costs around $661 per year or $58 per month.
Workers' comp insurance is required in Utah for all companies with employees to cover expenses from employees sustaining injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Utah
| NEXT | 98 | $96 |
| Pie | 90 | $131 |
| The Hartford | 90 | $189 |
| Thimble | 88 | $168 |
| biBerk | 86 | $248 |
| Nationwide | 86 | $247 |
*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
Excellent customer service
Quick and simple quote and purchasing process
Most affordable option for most businesses
cons
Less affordable for business with over 50 employees
COMPANY HIGHLIGHTS
NEXT offers Connecticut businesses the most affordable workers' comp insurance and the best overall experience, earning a 4.7/5 customer rating and recognition from CNBC as a top global digital insurer. However, NEXT primarily serves businesses with under 50 employees; larger companies may find better coverage options elsewhere.
How Much Is Workers' Comp Insurance in Utah?
Depending on the size of your business in the Beehive State, workers' comp rates vary anywhere from $661 to $5,224 per year. However, this only represents software development companies, and your rates will vary based on the number of employees, the risk of your industry, the work your employees do individually, and your claims history.
| Larger small businesses | $451 | $5,224 |
| Businesses with five or less employees | $58 | $661 |
| Medium-size small businesses | $116 | $1,337 |
Factors That Impact Workers’ Compensation Costs in Utah
The cost of workers' compensation insurance varies for each business, depending on several factors that influence coverage costs including the following: industry type, business size, location and claims history.
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.
Utah 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 Utah
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 Utah?
All businesses in the state are required to carry workers’ compensation insurance. Sole proprietors, partners and corporate officers who fully own a corporation can choose to be excluded from this insurance.
WORKERS’ COMP PENALTIES IN UTAH
Employers in the Utah must adhere to workers' compensation laws. Not doing so can lead to serious consequences:
- Penalties for Non-Compliance:
- Minimum $1,000 penalty - Employers found to be in violation are subject to a penalty of at least $1,000
- Up to $1,000 per day - Fines can reach up to $1,000 per day of noncompliance under Utah Code 34A-2-201 (Utah Workers’ Compensation Act: Employer and Employee Rights)
- Stop-work orders - Businesses can be temporarily shut down or have an injunction filed to prevent operation until compliance is achieved Utah Workers’ Compensation Insurance Laws
- Loss of "exclusive remedy" protection - Employers lose protection from lawsuits by injured employees, becoming personally liable for medical expenses and wage replacement.
- Criminal prosecution - Risk of criminal prosecution if the failure to insure is willful
- Additional Violation Penalties:
- Unlawful interference penalty - Up to $5,000 fine for employers who "impede or diminish an employee's efforts to make a claim or receive worker's compensation benefits" under Utah Code Ann. §34A-2-114
- Insurance fraud - Criminal prosecution for employers who fraudulently underreport payroll or engage in material misrepresentations when obtaining coverage
What Does Workers’ Compensation Insurance Cover in Utah?
Workers' compensation insurance provides vital benefits to employees experiencing work-related injuries or illnesses. This coverage usually includes medical care, disability benefits and lost wages, paying out 66% of weekly wages according to Utah law. It safeguards employees and defends businesses against potential legal claims related to workplace injuries or illnesses.
Best Workers' Compensation Insurance Utah: Bottom Line
In total, the top three best and most affordable workers' comp insurance providers in Utah are NEXT, Pie, and Thimble. 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 Utah: FAQ
Below are answers to frequently asked questions about Utah workers' comp insurance from our MoneyGeek experts.
Which company has the best workers’ compensation insurance in Utah?
In Utah, NEXT surpasses its competition with competitive pricing, averaging around $78 per month, and a low complaint index. However, choosing the best insurance for your needs involves considering your industry, workforce size and state requirements.
Which company has the cheapest workers’ compensation insurance in Utah?
The Hartford is the most cost-effective workers' comp insurance provider in Utah for businesses with 5 or less employees. For medium-sized small businesses, Pie offers the cheapest options. Larger small businesses will find Pie to be the most affordable choice for their needs.
Does Utah require businesses to have workers’ compensation insurance?
Yes, Utah mandates that all businesses carry workers' compensation insurance.
In Utah, worker's compensation insurance is compulsory for every business entity, though there are exemptions for sole proprietors, partners, and corporate officers who own their companies outright.
How much does workers’ compensation insurance cost in Utah?
In Utah, medium-sized small businesses with around 20 employees generally see an average monthly premium of $116 for workers' compensation insurance.
How We Rated Workers' Comp Insurance Companies in Utah
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.
- NEXT. "NEXT Insurance recognized as a top global digital insurer by CNBC." Accessed June 3, 2025.