Pie is Wisconsin’s best worker’s compensation insurance provider, scoring almost a perfect rating with 94 out of 100 points. The company sports a great mix of reliable customer service, very low workers' comp rates, and an extensive coverage selection. However, biBerk and The Hartford are good runners-up that you should also consider for coverage.
Cheapest Workers' Comp Insurance in Wisconsin
Updated: June 6, 2025
Advertising & Editorial Disclosure
Key Takeaways
Pie, The Hartford, biBerk, Nationwide and Thimble are the best cheap workers' comp insurance providers in Wisconsin.
For most small businesses in Wisconsin, workers' compensation coverage costs around $990 per year or $86 per month.
Workers' comp insurance is required in Wisconsin for all companies with employees to cover expenses from employees sustaining injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in Wisconsin
| Pie | 94 | $248 |
| The Hartford | 88 | $461 |
| biBerk | 87 | $469 |
| Nationwide | 86 | $474 |
| Thimble | 84 | $461 |
*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.
Best Cheap Wisconsin Workers' Comp Insurance by Business Size
Regardless of your business's size, Pie still retains the title of the best workers' compensation insurance in Wisconsin with the most affordable rates. Below you can review the company's rates for small, medium, and large small businesses.
| Pie | Businesses with five or less employees | $44 |
| Pie | Medium-size small businesses | $224 |
| Pie | Larger small businesses | $512 |
Pie: Best Overall
pros
Most affordable rates in Wisconsin
Great customer service ratings overall
Fast quotes and buying process
cons
Lower-than-average J.D. Power ratings
COMPANY HIGHLIGHTS
Pie earned the top overall score in Wisconsin due to its affordable rates and fast quote process. The company ranks first for affordability regardless of business size. It also has a strong A rating from AM Best, showing its financial stability for paying claims.
How Much Is Workers' Comp Insurance in Wisconsin?
Depending on the size of your Wisconsin-based business, workers' comp rates vary anywhere from $989 to $11,909 per year. However, this only represents software development companies, and your rates will vary widely depending on number of employees, the risk of your industry, the work your employees do individually, and your claims history.
| Larger small businesses | $995 | $11,909 |
| Businesses with five or less employees | $86 | $990 |
| Medium-size small businesses | $250 | $2,674 |
Factors That Impact Workers’ Compensation Costs in Wisconsin
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, 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. Wisconsin's average premium index rate for 2022 is $2.26 per $100 of payroll, ranking third highest nationwide.
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 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.
Wisconsin Workers' Comp Insurance: Buyer's Guide
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 Wisconsin
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.
- 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 to find the best deal. Prices vary depending on how you get quotes, whether through online comparison sites or by speaking with an agent. Use different methods and contact various companies to gain a balanced view of what's best for your business.
Do You Need Workers’ Compensation Insurance in Wisconsin?
All businesses in the state must have 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 WISCONSIN
Employers in Wisconsin have to follow certain rules for workers' comp insurance. If they don't, they could get in big trouble. Here's what could happen if they break the law:
- A fine of at least $10,000 or imprisonment in a county jail for up to one year, or both.
- Penalties of up to $100,000 for employers who don't have the insurance they're supposed to.
What Does Workers’ Compensation Insurance Cover in Wisconsin?
Workers' compensation insurance provides vital benefits to employees with work-related injuries or illnesses. It covers medical care, disability benefits, and lost wages, paying 66% of weekly wages per Wisconsin law, while protecting businesses from legal claims.
Best Workers' Compensation Insurance Wisconsin: Bottom Line
In Wisconsin, the top three workers' comp insurance providers are Pie, The Hartford and biBerk. Pie leads with the best affordability. 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 Wisconsin: FAQ
Below are answers to frequently asked questions about Wisconsin workers' comp insurance from our MG experts.
Which company has the best workers’ compensation insurance in Wisconsin?
In Wisconsin, Pie surpasses its competition thanks to its competitive pricing (averaging around $248 per month) and low complaint index. However, selecting the best insurance for your needs will depend on various aspects, including your industry, the size of your workforce, and particular state requirements.
Which company has the cheapest workers’ compensation insurance in Wisconsin?
Pie is the most cost-effective workers' comp insurance provider in Wisconsin for businesses with 5 or fewer employees. For medium-sized small businesses, Pie stands out as the cheapest option, ensuring comprehensive coverage at an affordable price. In the realm of larger small business entities, Pie maintains its reputation as the most economical choice for workers' compensation insurance.
Does Wisconsin require businesses to have workers’ compensation insurance?
Yes, Wisconsin mandates that businesses carry workers' compensation insurance to cover their employees.
In Wisconsin, worker's compensation insurance is required for all businesses with employees. However, sole proprietors, partners, and sole corporate officers may choose not to participate.
How much does workers’ compensation insurance cost in Wisconsin?
In Wisconsin, medium-sized small businesses typically pay around $250 per month for workers' compensation insurance.
How We Rated Workers' Comp Insurance Companies in Wisconsin
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
- Ethisphere. "The 2025 World’s Most Ethical Companies® Honoree List." Accessed April 14, 2025.
- State Compensation Insurance Fund. "Wisconsin Workers' Compensation." Accessed April 14, 2025.
- The Hartford. "Workers' Compensation Insurance Reviews." Accessed April 14, 2025.
- U.S. Bureau of Labor Statistics. "Employer-Reported Workplace Injuries and Illnesses in Wisconsin — 2023." Accessed April 14, 2025.
- U.S. Bureau of Labor Statistics. "Employer-Reported Workplace Injuries and Illnesses – 2023." Accessed April 14, 2025.