Best Workers' Comp Insurance in Virginia

Workers' comp rates in Virginia depend on your industry and team size. Find answers to common coverage questions below.

NEXT leads Virginia's workers' comp market with responsive customer support and comprehensive policy options. The Hartford and Simply Business rank as strong runners-up, offering reliable coverage solutions for small business owners throughout the state.

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Review our detailed analysis of the top workers' compensation providers in Virginia:

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NEXT delivers the most affordable workers' comp insurance in the state at $62 monthly ($750 annually), putting $4 back in your pocket each month compared to virginia's average rates. The Hartford and Simply Business round out the top three cheapest options, both offering competitive monthly premiums under $65. The table below shows costs from all companies we analyzed.

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NEXT offers the most affordable workers' comp for startups at just $11 monthly or $129 annually. NEXT dominates pricing across 29 industries, excelling in bakery, veterinary and wedding planning sectors. The Hartford ranks second for affordability, winning 16 industries including accounting, welding and automotive businesses.

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Virginia's workers' comp insurance cost averages $67 monthly ($803 annually), running $7 below the national average of $74. Industry rates vary, from speech therapists paying $65 monthly ($33 per employee) to roofers facing $9,138 annually ($4,569 per employee).  

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These cost factors affect workers' compensation insurance rates in Virginia:

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Virginia law requires workers' compensation coverage when you employ more than two people, including part-time and seasonal staff. If you hire subcontractors, count their employees too, even when they carry separate policies. Your policy pays injured workers two-thirds of their average weekly wages, capped at $1,410 weekly as of July 2024, plus unlimited medical costs.

Skip the required workers' compensation coverage and you'll face penalties up to $250 daily, maxing out at $50,000. Employers who knowingly operate without insurance risk Class 2 misdemeanor charges, potentially resulting in six months imprisonment and $1,000 fines.

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While you're often required to have coverage in Virginia, some business categories are exempt from workers' comp requirements:

• Small Businesses (Fewer Than 3 Employees): Virginia sets a higher bar than most states by exempting businesses with fewer than three employees, whether part-time, seasonal or full-time.
• Sole Proprietor Without Employees: A sole proprietor running your business alone without hiring subcontractors doesn't need coverage, though you can buy a policy to protect yourself.
• Business Partnerships: Partners own the business rather than work as employees, so you're exempt unless all partners choose coverage together.
• Single-Member LLCs: Running an LLC by yourself with no other team members means you're exempt from Virginia's coverage requirements.
• Executive Officers Can Opt Out of Accident Coverage: Corporate officers and LLC managers can file Form 16A to skip accident coverage while staying covered for occupational diseases.
• Independent Contractors: An independent contractor isn't covered, though Virginia looks at who controls the work method, with this factor mattering most when disputes arise.
• Non-Compensated 501(c)(3) Officers: Unpaid officers of tax-exempt nonprofits are automatically exempt without filing paperwork.
• Coal Mine Operators Must Carry Coverage: Underground coal mine operators need workers' comp regardless of how many people they employ.
• Real Estate Professionals: Licensed agents and appraisers working on commission under written independent contractor agreements don't need coverage.
• Transportation and Household Workers: Taxicab drivers excluded from federal unemployment tax and domestic workers in private homes are both exempt from Virginia's requirements.
• Casual and Sporadic Workers: One-time workers outside your normal business operations don't trigger coverage requirements.
• Interstate Railroad Employees: Railroad workers in interstate commerce get coverage through federal programs instead of Virginia's system.
• Self-Employed Business Owners: Self-employed individuals including partners and single-member LLC owners can skip coverage but may buy policies voluntarily.
• Government Officials: Commonwealth officers elected by the General Assembly or appointed by Virginia's Governor are exempt, except judges, State Police Superintendent and commission members.
• Volunteers in Emergency Services: Volunteer firefighters, EMTs, law enforcement chaplains, auxiliary police and search-and-rescue members aren't covered unless their organizations opt them in.
• Unpaid Nonprofit Staff: Non-compensated employees and directors of 501(c)(3) organizations or property owners' associations can be added to coverage voluntarily.
• Sports Officials and Federal Program Participants: Sports officials working interscholastic or intercollegiate events and certain AmeriCorps or federal assistance program participants aren't automatically covered.

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Find out how to get workers' comp insurance with the right provider at the best price.

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NEXT, The Hartford and Simply Business rank as Virginia's top workers' comp insurers. Research each company's service quality, maximize discounts and select coverage that fits your budget.  

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