MoneyGeek assessed the affordability, customer experience, financial strength and ease of obtaining quotes of five workers’ compensation insurers in Wisconsin. Based on this analysis, we determined that The Hartford is the top provider in the state, receiving high scores across multiple metrics.

Workers’ compensation insurance is crucial for small businesses, serving as a defense against possible monetary and legal obligations. This insurance may cover medical expenditures, lost income and potential litigation if an employee faces work-related sickness or accident, decreasing the burden on you and your workers.

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Best Workers’ Compensation Insurance in Wisconsin

Why Trust MoneyGeek? We collected 677 workers’ compensation insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best workers’ compensation insurance companies for small businesses in Wisconsin.

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Coverage costs and company information for workers' compensation insurance providers in Wisconsin were last updated in 2023.

677Quotes Analyzed
6Companies Compared
50ZIP Codes

Best Workers’ Compensation Insurance in Wisconsin

According to MoneyGeek’s analysis, The Hartford is the best workers' compensation insurance provider in Wisconsin. The Hartford was able to secure a slightly higher ranking than Pie, owing to its robust track record of customer satisfaction. On average, The Hartford's workers' compensation insurance costs $237 per month, but this can vary depending on the number of employees in your company, your payroll costs and other factors.

How was this MoneyGeek score calculated?

The HartfordBest Overall in Wisconsin




Customer Satisfaction


Financial Stability


Online Quote Process

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  • Monthly average premiums of $237
  • A+ grade for financial stability from AM Best
  • Strong track record of customer satisfaction
More About The Hartford

The Hartford, which has been in business for over 200 years, is an established insurance provider. AM Best assigns The Hartford insurance group a high rating for financial stability, partly attributable to its extensive industry history and good track record of processing claims.

The company's low complaint rate also indicates the high quality of its customer service. However, The Hartford charges average monthly premiums of $237, which is not the cheapest option available in the state. Premiums can be lower with other companies, so it is best to shop around if affordability is important to you.





Customer Satisfaction


Financial Stability


Online Quote Process

Geek Quick Take
Geek Quick Take
  • Most affordable provider in Wisconsin, offering policies for $213 per month
  • Faster quote processing time of any insurer in the state
More About Pie

Pie, established in 2017, is a reputable provider of Wisconsin workers' compensation insurance. It takes less than a minute to acquire quotes from the insurer's website, and the average cost of its coverage is $213 per month or $1,345 per year.

However, Pie did receive the lowest financial stability score of any insurer we analyzed in the state. As such, if financial security is of paramount importance to you, consider looking elsewhere. Pie also had a higher complaint rate than the other insurers we analyzed, making it a relatively poor performer in terms of customer satisfaction.


Cheapest Workers’ Compensation Insurance in Wisconsin

Pie Insurance's average monthly premium for workers' compensation insurance in Wisconsin is $213, making it the most affordable option in the state. This company is the most affordable insurer for businesses with 20 employees and annual payroll expenses of $1,250,000. Your payroll and number of employees have a substantial effect on the cost of workers' compensation insurance.

MoneyGeek Top Pick

With an average premium of just $213 per month or $1,345 per year, Pie is MoneyGeek's top recommendation for affordable workers' compensation insurance in Wisconsin. Pie is perfect for companies just starting up or looking to cut operating costs. This provider also offers the fastest sample quote time of any insurer in Wisconsin (33 seconds).

However, note that Pie received the lowest financial stability and customer service scores of the insurers we analyzed in the state. Even if cost is a crucial consideration for your business, it’s important to consider these other factors before deciding to utilize this insurer.

MoneyGeek ranked workers’ compensation insurance providers in Wisconsin by their average monthly premium to find the cheapest insurer in the state. The table below displays annual and monthly sample costs for insuring a company with 20 employees. However, keep in mind that your actual rates may vary depending on other factors.

PieMonthly Cost$213Annual Cost$1,345
ThimbleMonthly Cost$236Annual Cost$2,715
The HartfordMonthly Cost$237Annual Cost$2,840
NationwideMonthly Cost$250Annual Cost$2,994
biBERKMonthly Cost$256Annual Cost$2,840

Best Workers’ Compensation Insurance for Micro Businesses in Wisconsin

Pie provides the best workers' compensation insurance in Wisconsin for businesses with five employees, with a monthly premium that averages $42.

Although the number of employees does affect your workers' compensation insurance rate, payroll is typically a more influential factor in determining rates. To find the best workers' compensation insurance for micro businesses (i.e., companies with fewer than 10 employees) in Wisconsin, MoneyGeek gathered quotes for a company with five employees and annual payroll costs of $312,500.

MoneyGeek Top Pick

Pie is MoneyGeek's top choice for Wisconsin workers' compensation insurance for micro businesses. Its workers' compensation insurance costs an average of $42 per month, or $502 per year, for a company with five employees and an annual payroll of $312,500.

Among the providers on our list, Pie boasts the shortest online quote process and the cheapest premium. Customers can retrieve a quote from this insurer’s site in under a minute. However, it’s worth noting that this provider has a relatively high volume of customer complaints.

Best Workers’ Compensation Insurance for Midsize Businesses in Wisconsin

With an average monthly premium of $488, Pie also offers the best workers' compensation for midsize businesses with 100 employees.

While employee count can influence premiums, payroll typically has a more significant impact on workers' compensation insurance costs. MoneyGeek gathered quotes for a company with 100 employees and an annual payroll of $6,250,000 in Wisconsin to determine the best workers' compensation insurance for midsize companies in the state.

MoneyGeek Top Pick

Wisconsin's medium-sized enterprises can find the best workers' compensation insurance from Pie. For businesses with 100 employees and $6,250,000 in annual payroll costs, Pie offers a monthly premium of $488. Pie is the least expensive option for midsize enterprises in Wisconsin, charging monthly rates that are a whopping $577 less than the next cheapest insurer.

How Much Is Workers’ Compensation Insurance in Wisconsin?

The average cost of workers' compensation insurance in Wisconsin for businesses with 20 employees is $238 per month, significantly higher than the national average of $168 per month. MoneyGeek obtained quotes using the following sample policy limits:

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

This means that the policy covers up to $1 million per accident and up to $1 million per employee, up to a total policy limit of $1 million. Beyond this amount, employers are responsible for covering any additional lost income or excessive medical costs incurred by an employee.

Workers' compensation insurance rates are significantly affected by factors such as annual payroll cost and number of employees. Wisconsin workers' compensation insurance premiums are broken down by employee headcount in the following table.

How was this cost calculated?

5Monthly Cost$82Annual Cost$943
20Monthly Cost$238Annual Cost$2,547
100Monthly Cost$947Annual Cost$11,342

Factors That Impact Workers’ Compensation Costs in Wisconsin

The cost of workers' compensation insurance varies widely among different companies. Factors that influence the price of coverage include payroll expenses, staff size, employee classification and claims history.

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    Payroll costs

    Most insurance companies impose a fixed fee for each $100 of payroll. The rate varies by industry and is decided at the state level. Businesses having higher payroll expenses than average will typically pay a higher premium. In 2022, Wisconsin levied an average fee of $1.67 for every $100 of payroll, significantly higher than most states.

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    Number of employees

    The number of employees in your company can significantly affect your insurance costs. A company with a large workforce encounters a greater risk of workers becoming injured or ill on the job. This increased risk can result in higher premiums for workers' compensation insurance.

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    Employee class code

    An employee’s class code describes the nature of their work; fees charged per $100 payroll dollar are calculated using this code. Industries with greater risks of injury, such as construction, usually have higher insurance rates than industries with lower risk of injury, such as consulting.

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    Previous claims

    When setting rates, insurance companies consider prior claims history. Businesses having a long history of claims are considered to be riskier. In Wisconsin, workers' compensation claims are common. In 2020, the most recent year for which data is available, the U.S. Bureau of Labor Statistics (BLS) recorded 59,900 nonfatal workplace illnesses and injuries at Wisconsin private-sector enterprises. In 2021, the BLS recorded more than 2.6 million nonfatal workplace injuries and ailments in the private sector nationally.

Do You Need Workers’ Compensation Insurance in Wisconsin?

Worker's compensation insurance is required by law for the majority of Wisconsin companies, including:

  • Employers with three or more full- or part-time employees.
  • Employers who employ one or more full- or part-time employees working in Wisconsin and pay gross wages of $500 or more in any calendar quarter; they must have insurance by the 10th day of the first month of the next calendar quarter.
  • If a farmer employs at least six employees on any 20 days in a calendar year, then the farmer is required to carry insurance by the thirtieth day of employment.

Obtaining workers' compensation insurance in Wisconsin is imperative to safeguard oneself financially, even if your business is exempt. Choosing not to have workers' compensation insurance means taking on full financial liability for any occupational injuries.

A contractor, subcontractor or owner/operator who has employees is exempt from this regulation and is instead required to obtain insurance in their own name and provide coverage for those who work for them.

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Businesses in Wisconsin failing to provide legally required workers’ compensation insurance run the risk of one or more of the following:

  • A fine double the insurance premiums the company should have paid during the uninsured time, or $750, whichever is greater. Certain situations obligate the company to pay a $100 penalty for each day its employees are uninsured, up to a maximum of seven days.
  • Face business closure.
  • Personal liability for uninsured benefit claims made by the company's injured employees.

What Does Workers’ Compensation Insurance Cover in Wisconsin?

In Wisconsin, having workers' compensation insurance carries a number of advantages for both companies and employees. For example, it can help pay the expense of required medical care — such as surgeries, hospital stays and rehabilitation — for workers who are injured at work.

Workers' compensation insurance may also compensate employees for lost wages if they are unable to work due to injury or illness. Furthermore, workers' compensation can provide coverage for income loss, vocational rehabilitation and fatality benefits in the event of an employee's death resulting from a work-related event.

This insurance provides financial security for business owners in the event that an employee is injured on the job. Medical expenses, lost wages and other expenses can rapidly add up without help. With workers' compensation insurance, your company will not be responsible for covering these costs.

Workers’ Compensation Insurance Resources for Employees in Wisconsin

In Wisconsin, employees who need workers' compensation benefits must notify their employer about their work-related injury or ailment and seek immediate medical care. Your employer is responsible for informing its insurance carrier or claims administrator of your injury or illness. The insurance company will then notify the Wisconsin Worker's Compensation Division at the Department of Workforce Development of your injury or illness.

Within 14 days of your injury/illness, you should receive a reimbursement check from your employer's insurance carrier (some large employers are self-insured). Typically, workers' compensation claims must be submitted as soon as possible following an injury or illness on the job.

Frequently Asked Questions About Workers’ Compensation Insurance in Wisconsin

Before settling on a provider for Wisconsin workers' compensation insurance, there are a number of factors to consider. You can find answers to frequently asked questions about workers' compensation insurance in Wisconsin below.

Which company has the best workers’ compensation insurance in Wisconsin?
Which company has the cheapest workers’ compensation insurance in Wisconsin?
Does Wisconsin require businesses to have workers’ compensation insurance?
How much does workers’ compensation insurance cost in Wisconsin?

About Melissa Wylie

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Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.

Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.