When evaluating the best workers’ compensation insurance providers in Vermont, we considered many different factors, including affordability, customer satisfaction, financial stability and the efficiency of their online quote applications. Our research found biBERK to be the overall best insurer in Vermont state.

Vermont requires workers’ compensation insurance for all employers. This coverage helps protect business owners from being held personally liable for employee injuries and helps support employees who may lose work after a workplace incident.


Best Workers’ Compensation Insurance in Vermont

In the Green Mountain State, biBERK is our top pick for workers' compensation insurance, with a MoneyGeek score of 93 out of 100. It offers competitive rates at an average monthly cost of $185. However, your rate may vary based on factors unique to your business.


Cheapest Workers’ Compensation Insurance in Vermont

The cheapest Vermont company offering workers’ compensation insurance is Pie, with an average monthly premium of around $110 for businesses with 20 employees and $1,250,000 in annual payroll expenses.

Note that employee count and payroll can significantly affect insurance costs. We recommend shopping around and comparing quotes with multiple insurers to ensure you’re getting the best rate for your business.


To determine the cheapest workers’ compensation insurance providers for small businesses in the Green Mountain State, we ranked each company based on their average monthly premium. The most affordable policy for you may vary depending on factors** unique to your business.

Below, we analyzed the average cheapest insurers for Vermont companies with 20 employees, featuring their average monthly and annual premiums.


Best Workers’ Compensation Insurance for Micro Businesses in Vermont

biBERK is the top-rated workers' compensation insurance for Vermont micro businesses with five employees and an annual payroll expense of $312,500. biBERK offers an average monthly premium of $71.

Insurers often refer to companies with less than 10 workers as micro businesses. Employee count and payroll affect the cost of workers’ compensation insurance, but payroll typically has the most significant impact on premiums.


Best Workers’ Compensation Insurance for Midsize Businesses in Vermont

For Vermont midsize businesses, biBERK is the best option for workers’ compensation insurance. It offers an average monthly premium of $798 for a company with an annual payroll of $6,250,000 and 100 employees. While employee count is an important factor for insurance rates, payroll usually has a more significant impact on premiums.


How Much Is Workers’ Compensation Insurance in Vermont?

The average monthly cost of workers’ compensation insurance in Vermont for a business with 20 employees is $195. This cost is slightly higher than the national monthly average cost of $168.

Our policy limits for this review include the following:

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

The $1 million total policy limit is the amount the insurance provider will pay for any claim over the policy period. Should a work-related injury occur, this policy will provide up to one million dollars in total coverage for medical expenses and lost wages for the employee, with one million dollars provided per accident for multiple claimants and up to one million dollars per employee.

This policy limit helps the business owner maintain a financial buffer in the event of expensive claims related to injury or illness while providing proper coverage to employees.

The table below provides the average workers’ compensation insurance rates for Vermont companies with five, 20 and 100 employees. Two main factors influence workers’ compensation insurance costs: the company’s number of employees and total payroll expenses.


Factors That Impact Workers’ Compensation Costs in Vermont

Workers' compensation insurance costs vary from business to business depending on several factors, including payroll costs, number of employees, employee class code and the company's claims history.


Do You Need Workers’ Compensation Insurance in Vermont?

All Vermont businesses must carry workers’ compensation insurance to cover employee wages and medical expenses due to a job-related injury or illness. Vermont requires employers to obtain workers’ compensation coverage for full-time, part-time or independent contractors hired to do one or more jobs.

Some exemptions exist for specific categories of workers, such as agricultural employees and casual workers who make up $10,000 or less in payroll.

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Vermont employers who fail to provide legally required workers’ compensation insurance or fail to comply with workers’ comp laws face the following penalties:

  • Pay a daily penalty of $50, capping at $5,000.
  • If an employer does not comply within five days of being notified by the commissioner or their representative, the state will charge a penalty of $150 per day.
  • An employer or workers' compensation insurance carrier that disobeys the state will face a penalty of $500. If they don't comply by the specified date, they will be charged an additional $100 for every day past that date, up to a maximum of $5,000.
  • If an employer fails to submit the First Report of Injury within 72 hours of being made aware of an alleged injury, they will face a penalty of $100 per violation.
  • An employer or workers' comp insurance carrier that does not make sure their agents or subcontractors comply with the law is subject to a $500 penalty for the first instance of non-compliance on one claim. Subsequent infractions carry a further $500 fine, up to a cap of $5,000.

These penalties demonstrate the financial necessity of obtaining workers’ compensation insurance.

What Does Workers’ Compensation Insurance Cover in Vermont?

Vermont workers’ compensation insurance provides benefits to employees who experience a work-related injury or illness. The policy, which the employer holds, covers medical expenses related to the employee’s injury or illness, including prescriptions, doctor’s visits, conditions related to a disability and necessary medical equipment. Additionally, the policy offers lost wage benefits for the employee’s period of disability up to a state-regulated maximum.

Depending on the circumstances, policies may include death benefits for the employee’s dependents. By obtaining valid workers’ compensation insurance in Vermont, employers can minimize their legal liabilities and ensure their employees can access the necessary care and support.

Workers’ Compensation Insurance Resources for Employees in Vermont

The Department of Labor Workers' Compensation Division is the government agency that oversees workers’ compensation in Vermont. The Department is responsible for resolving workers' compensation disputes, providing oversight and protecting workers’ rights.

To file a claim for workers’ compensation benefits, employees should get a copy of Form 5 from the Vermont Department of Labor Workers' Compensation Division website. Employees should then complete the form and submit it to the Division, along with the necessary information and documentation to support the claim. The Division will investigate the claim and then determine the benefits available to the employee.

Frequently Asked Questions About Workers’ Compensation Insurance in Vermont

MoneyGeek answered the most commonly asked questions about Vermont workers’ compensation insurance.

biBERK offers the best workers’ compensation insurance in Vermont. The company stands out for its affordable premiums, financial strength, quality service and quick online quote application. Note that the best insurance for you may vary based on factors such as your industry, employee count and state requirements.

Pie has Vermont’s cheapest workers’ compensation insurance, with an average monthly premium of $110. The insurer offers an efficient online quote application. Ultimately, the most affordable provider for you will depend on your location, payroll expenses and employee count.

Yes, employers in Vermont are required to have workers’ compensation insurance coverage if they have one or more employees. An exemption exists for employers with casual workers or agricultural workers who make up to $10,000 or less in payroll.

On average, workers' compensation insurance in Vermont costs $195 per month. Vermont workers' compensation insurance rates can vary depending on your industry, location, business size and other factors, so your rates may be higher or lower than the average.

About Melissa Wylie

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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.