- The best workers’ comp insurance companies
- How we picked the best workers' comp companies
- Comparing the 10 best insurance companies
- Best workers' comp for different businesses
- How to choose the best workers’ compensation insurance company for your business
- How to compare the best workers’ compensation insurance company
- What our expert says
- Frequently asked question
The best workers’ comp insurance companies
Here’s our full list of the 10 best workers' compensation insurers for small businesses with our scores:
| Rank | Insurer | Score |
|---|---|---|
| 1 | American Financial Group | 4.76 |
| 2 | Travelers | 4.59 |
| 3 | Old Republic Group | 4.55 |
| 4 | The Hartford | 4.52 |
| 4 | Zurich Insurance Group | 4.52 |
| 6 | Berkshire Hathaway | 4.11 |
| 7 | Blue Cross Blue Shield of Michigan | 4.09 |
| 8 | Liberty Mutual | 3.60 |
| 9 | Amtrust Financial Services | 3.39 |
| 10 | Chubb | 3.35 |
How we picked the best workers' comp companies
To be considered for the ranking, a company had to be among the workers’ comp market share leaders, as listed by the National Association of Insurance Commissioners (NAIC). The NAIC is an organization of state insurance commissioners that establishes best practices and regulatory standards, conducts professional education and training, and gathers and analyzes industry data to support members and consumers.
It also maintains a database of consumer complaints filed with state regulators that compares insurers' performance relative to one another and produces a complaint index score, which we took into account. A score of 1.0 is considered average. A greater score reflects more complaints than usual for a company of its size; a lesser score indicates fewer complaints than usual.
We also considered each companies’ financial stability grades from credit ratings agency AM Best as well as their Better Business Bureau ratings, which take into account companies’ customer complaints, transparency and responsiveness.
We then weighted each metric as stated below to come up with our final score on each company:
- NAIC complaint index score: 40%
- AM Best financial strength rating: 40%
- Better Business Bureau rating: 20%
Comparing the 10 best insurance companies
1. American Financial Group
2. Travelers
Why did we choose Travelers?
Travelers serves small and multi-state businesses and provides insurance to various industries, from manufacturing to construction to consulting. It’s the No. 1 workers’ comp insurer by market share and has more than 500,000 workers' compensation customers, according to the NAIC. The company, along with Chubb, had the highest AM Best rating (A++), as of May 2025, of the companies we ranked.
When you purchase coverage through Travelers, you get access to more than 2,000 workers' comp claims professionals to streamline claims and over 500 nurses and medical professionals to help your employees recover and return to work.
- Outstanding financial strength ratings
- Large network of workers' compensation claim professionals
- In-house nurses and medical professionals
- No online quotes
- Coverage must be purchased through an agent
Company overview
Travelers, which has been in operation since 1864, offers commercial insurance products in all 50 states. Today, it has an almost 7% share of the market. In a separate ranking by Insurance.com, Travelers was ranked the ninth best small business insurance company in the country.
3. Old Republic Group
Why did we choose Old Republic Group?
Old Republic works with businesses in a broad range of industries. It offers personalized service with assigned account executives to handle your policy. Old Republic had the second-best NAIC complaint index score among all the companies we ranked. The company has an A+ financial strength rating from AM Best as of May 2025.
- Lower-than-usual number of complaints
- High financial stability ratings
- Very limited information online
- No online quotes or purchase options
Company overview
Old Republic provides casualty insurance products for corporations. According to the NAIC, it’s one of the largest workers’ compensation companies in the country, with 2.6% of the market.
4 (tie). The Hartford
Why did we choose The Hartford?
The Hartford is the country's second-largest workers’ comp insurer with 6.5% market share, according to the NAIC. It has workers' compensation options for organizations of all sizes, and some businesses can purchase coverage for as little as $13 per month. The Hartford has an A+ financial strength rating from AM Best, as of May 2025, which means it has a superior ability to meet its financial responsibilities and pay claims. The company also has fewer complaints than expected for a company of its size, according to the NAIC, indicating its customers are happy with its performance.
- Policies for companies of every size
- Experienced nurse case managers available
- Broad network of medical providers
- Doesn't issue workers' compensation in all states
Company overview
Since 1810, The Hartford — issuing policies under the Hartford Fire & Casualty company — has served small businesses. It sells many insurance products small business owners need, including general liability and workers' compensation coverage. It also has specialized products for niche industries, such as shipping. In a separate ranking by Insurance.com, the company was ranked the seventh best small business insurance company.
4 (tie). Zurich Insurance Group
Why did we choose Zurich?
Zurich offers a wide variety of insurance products, including specialized coverage for companies that do business across international borders. Zurich offers guaranteed cost, large deductible and self-insured retention programs. The company has an AM Best score of A+ for financial stability, as of May 2025, and fewer-than-expected customer complaints for a company of its size.
- Caters to larger companies and those working internationally
- Strong financial stability ratings
- Limited product details online
Company overview
Zurich, which is based in Switzerland, issues insurance policies to companies of all sizes, but mostly to larger businesses and enterprises. It’s best suited for companies that have operations in multiple countries. Zurich controls 5% of the workers’ comp insurance market.
6. Berkshire Hathaway
Why did we choose Berkshire Hathaway?
Through its subsidiary biBerk, small business owners can get quotes, bundle commercial coverage options and manage their accounts online. The company has an excellent AM Best financial stability rating, A+ as of May 2025, and coverage options for small and large companies.
- Online quotes, claims and policy management tools available through biBerk
- Large agent network
- Higher-than-usual number of customer complaints
- Not available in all states
Company overview
Berkshire Hathaway has several subsidiaries that issue insurance products, including workers' compensation. The insurer is one of the largest players in the workers’ comp space, controlling 3.6% of the market.
7. Blue Cross Blue Shield (BCBS) of Michigan
8. Liberty Mutual Group
Why did we choose Liberty Mutual Group?
Liberty Mutual goes above and beyond a basic insurance policy. Its professionals can help you identify potential work site hazards to prevent injuries from happening, and it has an in-house team of medical professionals to help you and your workers through the claims process. Liberty Mutual, as of May 2025, has an A rating from AM Best for financial strength, which means it’s in an excellent position to meet its financial obligations.
- In-house medical professionals
- Risk assessment services
- Higher-than-usual complaint index score
- Limited online tools
Company overview
Liberty Mutual has been in operation since 1912 and initially focused on workers' compensation insurance. Today, it issues policies in all 50 states. The company has a 3.2% share of the workers’ comp market. In a separate Insurance.com ranking, the company was listed as the 10th best small business insurance company.
9. AmTrust Financial Services
Why did we choose AmTrust?
AmTrust provides policies to a variety of industries and policyholders can take advantage of free workplace safety resources, like training videos and templates for employee safety plans. The company has an excellent A- rating from AM Best as of May 2025.
- “Pay-as-you-owe” payment options
- Multiple insurance resources
- Does not insure all business types
- Restrictions on businesses open 24 hours
- Relatively high NAIC complaint index score
Company overview
Whether you've been in operation for years or are opening your first shop, AmTrust has workers' compensation and other commercial products to protect your business. The company is the third-largest workers’ comp provider in the U.S., with a 5.7% market share.
10. Chubb
Why did we choose Chubb?
Chubb has coverage options for businesses of every size and offers medical management programs, return-to-work programs and a pharmacy benefits program. It provides online claims and, depending on your business size, provides quotes online, making it a good option for those who prefer digital access and account management. The company, along with Travelers, had the highest AM Best rating (A++), as of May 2025, of all the companies we ranked.
- Great AM Best financial stability rating
- Online quote tools
- Higher-than-usual number of customer complaints
- Other competitors had higher BBB ratings
Company overview
Through Chubb's small business segment, you can get coverage designed for a small business' needs, including general liability, professional liability, and workers' compensation insurance. Chubb has a 4.1% share of the workers’ comp market. In a separate Insurance.com ranking, Chubb is listed as the second-best small business insurance company.
Best workers' comp for different businesses
Workers' compensation coverage needs vary based on your industry and the risks your employees face. Insureon, a small-business insurance broker, ranked several companies as the best workers’ comp providers for certain professions based on risk exposure and customer reviews.
Many of the companies we ranked can be found on Insureon’s best-of list for specific professions, including:
The Hartford: Best for installation contractors
Installation companies, such as those that install appliances or cabinetry, will appreciate Hartford's extensive support to injured workers and your small business during a claim, according to Insureon.
AmTrust and Liberty Mutual: Best for cleaning
Commercial cleaning businesses face many risks, including chemicals and heavy lifting. Both AmTrust and Liberty Mutual offer coverage options for cleaning services of multiple sizes.
Liberty Mutual: Best for plumbers and electricians
Insureon says plumbers, electricians and other contractors “can also rely on Liberty Mutual for workers' compensation. By working with a company that knows your industry, you'll gain peace of mind knowing you're insured for the right exposures.”
Chubb and The Hartford: Best for consulting
Consultants, such as marketing or financial advisors, need to work with a company that understands their profession's operations. According to Insureon, Chubb has an exemplary record for customer satisfaction during the claims process, while The Hartford is one of the most reliable insurance providers.
How to choose the best workers’ compensation insurance company for your business
Before choosing a provider, weighing the following details can help you select the right provider:
- Business size: Some carriers specialize in small businesses, while others only work with companies with a certain number of employees.
- Industry knowledge: Businesspeople in high-risk industries, such as construction, may benefit from an insurer with expertise in their field.
- Digital tools: A robust online presence, including quotes and claims filing, can simplify the insurance buying and account management processes.
- Other coverage: Bundling policies and buying other commercial insurance through a single company can streamline your operations and help you save money.
How to compare the best workers’ compensation insurance company
When shopping for coverage, consider the following:
- State availability: Not all companies offer workers' compensation, and some may not provide this form of coverage in every state.
- Claims service: Review NAIC complaint index data and online reviews to determine how well a company handles claims and policyholder communications.
- Accessibility: If you prefer a digital experience, look for an insurance company with robust online tools, including quotes and claims tracking. If you prefer personalized help, look for a company with an extensive agent network.
What our expert says
Q: What are the consequences of not carrying workers’ comp?
Frequently asked question
What is workers' compensation insurance, and why is it important?
Workers' compensation is a type of insurance that is required by law if you have employees. It covers your employees' medical bills and lost wages if they're sick or injured on the job. And it protects you from major financial liabilities. Going without the legally required coverage can be a costly mistake.
Who offers the cheapest workers’ compensation insurance?
The cost of workers' compensation insurance varies significantly based on industry, the number of employees you have, and your business location. On average, small business owners pay about $45 per month for coverage.
