Cheapest Workers' Compensation Insurance in 2024

Pie offers the overall cheapest workers’ comp insurance provider. On average, policies at Pie cost $104 monthly for a business with 20 employees. Note that this can change if you have more or fewer employees.

Affordable workers' compensation insurance can help you safeguard your business while minimizing expenses. Prioritizing cost-effective coverage allows you to strike a balance between protection and financial sustainability.

Pie offers the most affordable workers’ comp insurance for businesses with a 20-employee workforce. Pie's workers' compensation insurance policies cost an average of $1,205 yearly or $104 monthly. Thimble is the runner up, with premiums averaging $1,691 per year.

Pie and Thimble consistently rank as the most affordable workers’ comp insurance providers. However, note that where your business is located and operates can affect your rates, as each state sets specific rates that insurers charge per $100 of payroll.

Based on our analysis, Pie is the most cost-effective option for businesses with five, 20 and 100 employees.

Workers' compensation insurance premiums are generally affected by the number of employees and payroll costs. The more employees you have, the higher the risk of exposure to illnesses and accidents — and the higher the financial risk for the insurer. This is why insurers offset costs with higher insurance rates.

Filter the table below to find the cheapest workers’ comp insurance provider based on the size of your workforce.

While the state typically sets workers’ compensation insurance rates, there are still a few ways you can save on coverage. From comparing quotes to looking for discounts, learn how to find cost-effective workers’ compensation insurance to protect your employees and your business.

Keep your business safe and your expenses in check by finding affordable workers' compensation insurance. Get quick answers about the cheapest workers’ comp insurance providers through answers to frequently asked questions.