The Hartford leads Wyoming business insurance providers with top rankings in affordability and strong customer service scores. NEXT and Simply Business also offer reliable coverage options for business owners across the state.
Business Insurance in Wyoming
The Hartford tops our Wyoming business insurance rankings with a MoneyGeek score of 4.65 out of 5.
Find affordable coverage that protects your small business in Wyoming below.
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Updated: October 30, 2025
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Key Takeaways
Small business owners can get the best business insurance in Wyoming from The Hartford, NEXT and Simply Business.
The best business insurance in Wyoming depends on your industry risks, employee count and preferred coverage limits.
To find the best coverage, assess your risks, compare multiple quotes, research provider service quality and maximize available discounts.
Best Business Insurance Companies in Wyoming
| The Hartford | 4.65 | 1 | 2 | 3 |
| NEXT | 4.63 | 4 | 1 | 2 |
| Simply Business | 4.49 | 4 | 5 | 1 |
| Nationwide | 4.48 | 7 | 2 | 4 |
| Coverdash | 4.42 | 5 | 6 | 2 |
| biBERK | 4.39 | 8 | 2 | 5 |
| Progressive Commercial | 4.33 | 3 | 7 | 5 |
| Thimble | 4.31 | 2 | 8 | 5 |
| Hiscox | 4.28 | 6 | 4 | 6 |
| Chubb | 4.27 | 9 | 3 | 4 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best by Coverage Type
The Hartford provides the best general liability coverage and business owner's policies (BOP). NEXT has superior professional liability insurance and workers' compensation coverage.
| Business Owners Policy | The Hartford | 4.70 |
| General Liability | The Hartford | 4.64 |
| Professional Liability (E&O) | NEXT | 4.72 |
| Workers Compensation | NEXT | 4.61 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best Wyoming Small Business Insurance Reviews
We analyzed Wyoming business insurance providers based on coverage options, rates and customer service. Here's what makes our top three picks stand out for small business owners in the state.
The Hartford
Best for Affordability
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.6/5Customer Experience
4.7/5Coverage Points
Average Monthly Cost of General Liability Insurance
$75This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
N/AThis rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
4.5/5Our Survey: Likely to Be Recommended to Others
4.5/5
NEXT
Best Customer Experience
MoneyGeek Rating
4.6/ 5
4.5/5Affordability
4.7/5Customer Experience
4.8/5Coverage Points
Average Monthly Cost of General Liability Insurance
$95This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
N/AThis rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.9/5Ranked #4 nationallyOur Survey: Likely to Be Recommended to Others
4.8/5Ranked #1 nationally
Simply Business
Best for Coverage Availability
MoneyGeek Rating
4.5/ 5
4.5/5Affordability
4.2/5Customer Experience
4.9/5Coverage Points
Average Monthly Cost of General Liability Insurance
$89This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
N/AThis rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.7/5Ranked 8th nationallyOur Survey: Likely to Be Recommended to Others
4.2/5Ranked 8th nationally
Cheapest Business Insurance Companies in Wyoming
The Hartford provides the most affordable business insurance in Wyoming with rates of $82 monthly ($985 annually). Thimble and Simply Business follow as cost-effective options, offering coverage at $95 and $98 per month respectively. You can compare rates from all providers serving the Equality State in the table below.
| The Hartford | $82 | $985 |
| Thimble | $95 | $1,137 |
| Simply Business | $98 | $1,171 |
| Progressive Commercial | $100 | $1,203 |
| Nationwide | $100 | $1,204 |
| Coverdash | $102 | $1,226 |
| NEXT | $102 | $1,226 |
| biBERK | $106 | $1,276 |
| Hiscox | $111 | $1,333 |
| Chubb | $119 | $1,422 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest General Liability Insurance Companies in Wyoming
The Hartford offers the cheapest general liability coverage in Wyoming, with monthly premiums of $75. Simply Business ranks second with $89 monthly rates, and you can compare all provider rates in the table below.
| The Hartford | $75 | $906 |
| Simply Business | $89 | $1,062 |
| Nationwide | $90 | $1,076 |
| Progressive Commercial | $92 | $1,109 |
| NEXT | $95 | $1,143 |
| Coverdash | $96 | $1,147 |
| Thimble | $99 | $1,191 |
| Hiscox | $106 | $1,268 |
| biBERK | $106 | $1,269 |
| Chubb | $110 | $1,318 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Professional Liability Insurance Companies in Wyoming
The Hartford offers the lowest professional liability insurance (E&O) rates in Wyoming at $66 monthly ($796 annually). NEXT provides another affordable option for Equality State business owners.
| The Hartford | $66 | $796 |
| NEXT | $67 | $805 |
| Progressive Commercial | $69 | $832 |
| Simply Business | $71 | $851 |
| Thimble | $71 | $857 |
| Hiscox | $72 | $860 |
| Coverdash | $72 | $864 |
| biBERK | $74 | $882 |
| Nationwide | $76 | $916 |
| Chubb | $82 | $984 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability/errors and omissions policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest BOP Insurance Companies in Wyoming
The Hartford offers the cheapest BOP rates in Wyoming at $104 per month ($1,252 annually). Business owners can also find affordable BOP insurance with Thimble, Simply Business and Nationwide.
| The Hartford | $104 | $1,252 |
| Thimble | $113 | $1,362 |
| Simply Business | $133 | $1,601 |
| Nationwide | $135 | $1,621 |
| Coverdash | $139 | $1,666 |
| Progressive Commercial | $139 | $1,669 |
| biBERK | $140 | $1,677 |
| NEXT | $144 | $1,730 |
| Hiscox | $156 | $1,872 |
| Chubb | $164 | $1,965 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP policies. Survey results reflect limited sample data and may not represent all available rates in your area.
How Much Does Business Insurance Cost in Wyoming?
Business insurance in Wyoming costs between $72 and $137 monthly, with professional liability being the most affordable and business owner's policies the most expensive. Rates vary based on the coverage type your business needs.
| BOP | $137 |
| General Liability | $96 |
| Professional Liability (E&O) | $72 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cost of Business Insurance by Industry and Coverage
Business insurance costs in Wyoming vary significantly based on industry and coverage types. Monthly premiums range from $15 for general liability coverage for drone businesses to $1,275 for a business owner's policy covering pressure washing businesses.
Data filtered by:
Business Owners Policy
Accountants
| Accountants | Business Owners Policy | $30 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
What Factors Influence My Costs?
Your Wyoming business insurance premiums are affected by several key factors. Here's what influences your insurance costs in the state:
Industry risk level
Your business type drives your insurance costs more than any other factor. In Wyoming, mining operations face much higher rates than retail stores because insurers know resource extraction carries more risks. A mining contractor pays $1,000 monthly for coverage, while a small retailer pays closer to $50.
Geographic location and weather risks
Your location in Wyoming affects your rates. According to NOAA data, Wyoming businesses face frequent severe winter storms and high winds that can damage property. Areas with higher exposure to these weather risks, particularly in mountainous regions, pay more for property coverage than businesses in more protected locations.
Business size
Your employee count and revenue directly impact your insurance costs. Workers' comp rates are calculated per $100 of payroll, while general liability costs consider your customer volume and annual revenue. A Wyoming construction company with 20 employees pays more than a sole proprietor working from home.
Claims history
Previous claims follow your business for years and can increase your premiums substantially. Filing even one liability claim can raise rates across multiple coverage types. Keep a clean claims record and insurers will offer better pricing.
Coverage types and limits
Your choice of coverage types and limits directly affects your rates. Higher coverage limits increase costs, but bundling options like business owner's policies can reduce overall expenses by combining multiple coverages into one package.
Years in business
New Wyoming businesses pay higher premiums since insurers lack data to evaluate their risk level. After operating claim-free for several years, your rates often decrease as you build a reliable track record.
Professional certifications
Safety training and professional certifications can lower your insurance costs, especially in high-risk industries common to Wyoming like mining and construction. OSHA certifications show insurers you prioritize workplace safety, often leading to premium discounts.
Wyoming Business Insurance Buying Guide
Getting business insurance can feel overwhelming when you're focused on running your business. Buying business insurance in Wyoming is straightforward, and we'll walk you through each step to help you make confident decisions.
What Coverage Is Required?
We've researched Wyoming's business insurance requirements to save you time. Check the section below for a complete breakdown of what coverage your business needs.
Workers' comp
Wyoming requires workers' compensation insurance based on industry classification, with extra-hazardous industries being mandatory and others optional. You must carry workers' comp if you have one or more employees, including part-time and seasonal workers. However, Wyoming allows corporate officers to opt out of coverage, and sole proprietors and business partners are exempt unless they choose coverage. The state has specific exemptions for agricultural workers and ranch hands, which is important given Wyoming's large agricultural sector. Unlike most states, Wyoming doesn't allow businesses to self-insure and requires all coverage to be purchased through the state fund. Insurance requirements can change, and you should verify current Wyoming Department of Workforce Services regulations before making coverage decisions.
Commercial auto insurance
Small businesses that own vehicles or require employees to drive for work need commercial auto insurance. Wyoming requires all vehicles to carry at least $25,000 per person and $50,000 per accident for bodily injury, plus $20,000 for property damage. Given Wyoming's rural roads, long distances between cities and harsh weather conditions, businesses should consider higher limits for better financial protection.
Unemployment insurance
Wyoming requires unemployment insurance for businesses that pay wages of $1,500 or more in any quarter or employ one or more workers for 20 weeks during a calendar year. You must register with the Wyoming Department of Workforce Services and pay quarterly contributions based on your payroll and experience rating.
Professional liability insurance
If you hold a professional license in Wyoming for medical, legal, architectural or engineering work, you'll typically need professional liability insurance. Healthcare providers must carry malpractice coverage, while other professionals should check with their licensing boards for specific requirements. The coverage amounts vary by profession and practice type.
Contractor bonds and insurance
If you hold a contractor license in Wyoming, you'll need to carry liability insurance and may need to post a surety bond depending on your work type. General contractors typically need at least $50,000 in liability coverage, while specialty contractors have varying requirements. This protects customers if you don't complete work as promised or follow licensing rules.
What Coverage Do We Recommend?
Wyoming keeps business insurance regulations minimal, leaving you to make smart coverage decisions. Our industry experts have analyzed the best protection for the Equality State's leading business sectors:
Excavation | General liability, workers' compensation, commercial auto, equipment coverage, environmental liability, explosion coverage | Wyoming's energy and mining sectors require extensive excavation for oil wells, coal mines and infrastructure. Companies that disturb energy extraction sites risk underground utility strikes, equipment damage in harsh conditions and environmental liability. |
Trucking | Commercial auto, general liability, cargo coverage, workers' compensation, hazmat coverage, extreme weather protection | Energy transport and agriculture create heavy trucking demand across Wyoming's vast distances. Companies face extreme weather hazards, hazardous material transport and remote accident risks with limited emergency services availability. |
Welding | General liability, workers' compensation, commercial auto, professional liability, fire damage coverage, equipment coverage | Energy infrastructure and ranching operations require specialized welding services. Welders face fire hazards in dry conditions, structural liability on critical energy projects and equipment damage from extreme temperature variations. |
Construction/Contractor | General liability, workers' compensation, commercial auto, equipment coverage, weather delay insurance, remote location coverage | Construction projects in Wyoming's remote areas face extreme weather, long material transport times, and equipment breakdown far from repair facilities. Contractors need protection from weather delays and increased costs of remote operations. |
Veterinary | Professional liability, general liability, cyber liability, workers' compensation, animal bailee coverage, large animal liability | Wyoming's ranching economy requires veterinary services for valuable livestock across vast distances. Practices face malpractice claims, large animal handling injuries and liability for expensive breeding stock and working animals. |
Auto Repair | General liability, garage keepers liability, workers' compensation, commercial property, equipment coverage | Auto repair shops serve sparse populations with vehicles subjected to harsh conditions across large distances. Shops face customer vehicle damage, specialized equipment needs for heavy-duty vehicles, and inventory challenges in remote locations. |
HVAC | General liability, workers' compensation, commercial auto, tools and equipment coverage, extreme weather protection | HVAC contractors work in Wyoming's extreme temperature variations with energy-efficient systems. Services face liability from heating failures in sub-zero conditions, equipment damage from temperature extremes and remote service call risks. |
Electrical | General liability, workers' compensation, commercial auto, professional liability, equipment coverage, weather-related business interruption | Electrical contractors maintain Wyoming's energy infrastructure and remote facilities. Electricians face high-voltage hazards, extreme weather service calls and liability from power outages affecting critical energy operations and isolated communities. |
How to Get the Best Cheap Business Insurance in Wyoming
Getting the right business insurance in the Equality State can be costly for small business owners. Here are practical steps to secure reliable coverage while keeping your insurance costs manageable:
- 1Assess your business risks
Focus on real risks specific to your Wyoming business operations rather than accepting blanket recommendations. A Cheyenne retail store needs different coverage than a Jackson Hole outdoor guide service, so evaluate your actual exposure before shopping for policies.
- 2Compare multiple insurance quotes
Insurance companies calculate risk differently, leading to significant price variations for the same coverage. Contact at least three providers who understand Wyoming business requirements to find the most competitive rates.
- 3Evaluate insurance provider quality
Look beyond just price when selecting an insurer. Check financial strength ratings and read reviews from other Wyoming business owners about claims experiences and customer service quality.
- 4Secure available discounts
Ask about bundling commercial property and liability coverage into a business owner's policy (BOP). Many Wyoming insurers offer additional savings for safety programs, security systems and claims-free histories.
- 5Schedule annual coverage reviews
Business needs change as your company grows or adds new services. Review your coverage yearly to ensure you maintain adequate protection while identifying opportunities for better rates.
Wyoming Business Insurance: Bottom Line
Based on our analysis, The Hartford, NEXT and Simply Business are Wyoming's best business insurance providers. What's best for you depends on your business risks and employee needs. Research each company's service quality, maximize discounts and select coverage that fits your budget.
Small Business Insurance in Wyoming: FAQ
Small business owners in Wyoming often need guidance on choosing the right insurance coverage. Here are straightforward answers to your most common questions.
What business insurance is required by law in Wyoming?
Wyoming businesses need workers' compensation insurance for those in extra-hazardous industries or with one or more employees. Commercial auto insurance is required for business vehicles with minimum limits of $25,000/$50,000/$20,000. General liability coverage isn't legally required, but is recommended.
How much does business insurance cost in Wyoming?
Business insurance costs in Wyoming range from $72 to $137 monthly. Professional liability insurance is the least expensive at $72, while business owner's policies cost $137. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in Wyoming?
The Hartford offers the lowest rates at $82 monthly in Wyoming, with Thimble ($95) and Simply Business ($98) following behind. Always compare quotes since rates vary based on specific risks.
What business insurance do I need for my small business in Wyoming?
Begin with general liability insurance to protect against customer injuries and property damage. Include workers' compensation for employees and commercial auto for company vehicles. Retailers typically need property coverage, while contractors require equipment protection.
How We Scored the Best Business Insurance Companies in Wyoming
Small business owners in Wyoming need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help Wyoming entrepreneurs navigate challenges like extreme weather risks and the state's industry-based workers' compensation requirements.
We studied thousands of quotes from 79 industries across four coverage types for a two-employee firm with $300,000 annual revenue and $150,000 payroll. All policies included $1 million per occurrence and $2 million total per year, with BOPs adding $5,000 business property coverage.
- Affordability (50% of score): We analyzed premium costs across multiple carriers, comparing rates for identical coverage levels to identify the most competitive options for Wyoming businesses.
- Customer experience (30% of score): Our research examined claims processing speed, customer support availability and digital tools that help business owners manage their coverage.
- Coverage options (15% of score): We evaluated the range of endorsements and policy customization options available to meet specific industry needs in Wyoming.
- Financial strength (5% of score): We reviewed AM Best ratings and other financial indicators to ensure recommended carriers can reliably pay claims.
This approach helps Wyoming small business owners compare insurers on what matters most: affordable premiums, reliable service, adequate coverage and financial stability.
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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- National Centers for Environmental Information. "Billion-Dollar Weather and Climate Disasters." Accessed August 24, 2025.
- Trustpilot. "NEXT." Accessed July 25, 2025.
- Trustpilot. "The Hartford." Accessed July 25, 2025.