Pie is West Virginia's best workers' compensation insurance provider regardless of business size. The company offers a strong combination of reliable customer service, very low workers' comp rates and an extensive coverage selection. NEXT and Thimble are good runners-up to consider.
Cheapest Workers' Comp Insurance in West Virginia
Updated: June 20, 2025
Advertising & Editorial Disclosure
Key Takeaways
Pie, NEXT, Thimble, The Hartford and biBerk are the best cheap workers' compensation insurance providers in West Virginia.
For most small businesses in West Virginia, workers' compensation coverage costs around $762 per year or $66 per month.
Workers' comp insurance is required in West Virginia for all companies with employees to cover expenses from employees sustaining injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in West Virginia
| Pie | Businesses with five or less employees | $33 |
| Pie | Medium-size small businesses | $87 |
| Pie | Larger small businesses | $372 |
*Rates and scores are for software development businesses with small (five employees), medium (20 employees) and large (100 employees) operations.
Pie: Best Overall
pros
Most affordable rates by a large margin
Business-insurance-only focused
Good financial strength ratings
cons
Lower customer satisfaction scores than some competition
COMPANY HIGHLIGHTS
Pie offers the best and cheapest overall workers' comp in West Virginia for all business sizes, with rates as low as $396 per year. The company also has an A- financial strength rating from AM Best and is completely focused on business insurance, making them a more tailored option.
How Much Is Workers' Comp Insurance in West Virginia?
Workers' comp rates for West Virginia businesses range from $762 to $6,491 per year. This range applies only to software development companies. Your actual rates will vary based on:
- Number of employees
- Industry risk level
- Specific work performed by employees
- Claims history
| Larger small businesses | $551 | $6,491 |
| Businesses with five or less employees | $66 | $762 |
| Medium-size small businesses | $141 | $1,657 |
Factors That Impact Workers’ Compensation Costs in West Virginia
The cost of workers' compensation insurance varies for each business based on several factors:
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.
West Virginia Workers' Comp Insurance: Buyer's Guide
Finding the right business insurance can be challenging. 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 West Virginia
Here are the steps to help your organization get the best workers' compensation policy possible:
- 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 equally 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 West Virginia?
All West Virginia businesses must carry workers' compensation insurance. Sole proprietors, partners and corporate officers who fully own a corporation may choose to be excluded.
WORKERS’ COMP PENALTIES IN WEST VIRGINIA
In West Virginia, employers who don't provide required workers' compensation insurance or follow workers' comp laws may face:
- Fines: Businesses can be fined $500 for the first offense of non-compliance. Subsequent offenses carry fines up to $25,000.
- Imprisonment up to two years: Continued non-compliance can result in imprisonment for up to two years.
- Criminal prosecution: Businesses legally required to maintain workers' comp coverage are subject to fines and criminal prosecution.
- Stop-work orders: Can be issued to prevent employers from doing business.
- Late payment penalties: 10% late penalty plus interest (between $50 and $500) for failure to pay workers' compensation contributions.
- Loss of lawsuit protection: Employers become liable for employee medical costs and lost wages without coverage.
What Does Workers’ Compensation Insurance Cover in West Virginia?
Workers' compensation insurance provides essential benefits to employees with work-related injuries or illnesses. This coverage typically includes medical care, disability benefits and lost wages for affected workers, paying 66% of weekly wages under West Virginia law. It protects employees while shielding businesses from potential legal claims related to workplace injuries or illnesses.
Best Workers' Compensation Insurance West Virginia: Bottom Line
Pie, NEXT and Thimble offer the best and cheapest workers' compensation insurance in West Virginia. While we recommend these companies, compare rates and consult similar businesses in your industry to find the best deal.
Workers' Comp Insurance in West Virginia: FAQ
Below are answers to frequently asked questions about West Virginia workers' comp insurance from MoneyGeek experts:
Which company has the best workers’ compensation insurance in West Virginia?
Pie offers West Virginia's best workers' compensation insurance with competitive pricing (averaging about $87 per month) and a low complaint index. However, your best insurance option depends on your industry, workforce size and state requirements.
Which company has the cheapest workers’ compensation insurance in West Virginia?
Pie is the most cost-effective workers' comp insurance provider in West Virginia for businesses of all sizes. Monthly rates start at $33.
Does West Virginia require businesses to have workers’ compensation insurance?
In West Virginia, workers' comp insurance is mandatory for all businesses, though sole proprietors, partners and corporate officers with full ownership may opt out.
How much does workers’ compensation insurance cost in West Virginia?
West Virginia businesses with 20 employees pay an average monthly workers' compensation insurance cost of $141, slightly below the national average of $178.
How We Rated Workers' Comp Insurance Companies in West Virginia
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
- AM Best. "Best's Credit Rating Action." Accessed June 10, 2025.