Best Workers' Compensation Insurance Companies

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Why We Chose It

Travelers has a great reputation for financial strength and is the top writer of workers’ compensation policies in the U.S., providing coverage for any industry.

Founded in 1853, Travelers is the top writer of workers’ compensation policies in the nation by market share, and the insurer provides unique solutions for each industry. Travelers offers safety resources to help companies mitigate risk, and when it’s time for your employee to return to work after a claim, the team of nurses and medical professionals help to make that transition as smooth as possible. Travelers also has an "A++" (Superior) financial strength rating from AM Best, so you can trust their ability to pay claims. 

In addition to workers’ compensation insurance, Travelers offers a variety of other types of insurance for businesses, including general liability insurance, commercial auto insurance, and umbrella insurance. The biggest downside is that you can’t get a quote or apply for a policy online; you’ll need to contact a local agent. 

Travelers has zero complaints on record for the last three years with the National Association of Insurance Commissioners (NAIC) for its workers' compensation division, indicating strong customer satisfaction with the claims process, even though their overall score in J.D. Power’s 2021 Small Commercial Insurance Study was just average.

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Why We Chose It

Next provides an easy and affordable way to buy workers’ compensation insurance for small businesses along with discounts for bundling their products.

If you’re an independent contractor or you only have a few employees, you might find that Next Insurance can offer you an affordable workers’ compensation policy that is easy to obtain. Policies start at $14 per month and you can look up quotes and apply for coverage online in as little as 10 minutes. You can also add other types of business insurance such as general liability insurance and commercial auto insurance and get a 10% discount for bundling your policies.

Next Insurance is a startup founded in 2015 but their policies are backed by Munich Re America which has an "A+" (Superior) financial strength rating from AM Best. Next Insurance is not rated by J.D. Power, but third-party customer reviews about the company are generally favorable.

However, since Next Insurance is a smaller insurer, they don’t provide the same safety resources or employ medical staff like some other companies. As such, Next Insurance is ideal for small businesses that don’t need the extra support. 

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Why We Chose It

The Hartford has expertise in providing insurance to medical businesses, a strong financial strength rating, and an extensive network of medical providers and pharmacies.

Founded in 1810, The Hartford is the second largest provider of workers’ compensation policies by market share. The insurer has specific experience insuring medical businesses, providing coverage to more than 105,000 medical offices across the country. 

When filing a claim, your employee will have access to a nurse case manager, a network of over one million medical providers, thousands of pharmacy locations offering no out-of-pocket costs, and reimbursement for needle stick testing. And you can trust The Hartford to pay claims with good service as well; the provider has an "A+" (Superior) financial strength rating from AM Best and a lower than average number of complaints with the NAIC for a company of its size.

However, it’s important to note that The Hartford earned a customer satisfaction rating that was well below the industry average in J.D. Power’s 2021 Small Commercial Insurance Study.

You can start a quote online, but some businesses may be required to speak to an agent to complete the application. You may be eligible for a discount if you bundle your workers’ compensation policy with professional or general liability insurance, commercial property insurance, or business income insurance.

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Why We Chose It

Nationwide has the robust resources needed to support high-risk businesses along with great financial strength ratings.

Nationwide provides specific solutions for the construction industry, one of the highest-risk industries, along with comprehensive resources and support for any industry. Founded in 1926, Nationwide is a reputable provider with an "A+" (Superior) financial strength rating from AM Best.

Although as an insurer overall Nationwide has seen slightly higher complaint volume for a company of its size, its workers' compensation division has no complaints on record with the NAIC for the last three years. The company offers a bundling discount for adding other policies such as professional liability or business auto coverage. 

What’s most appealing about Nationwide is the availability of resources and support. As a policyholder, you’ll get access to educational materials such as safety seminars, the 24/7 nurse triage hotline, and Nationwide’s unique Successful Return-to-Work program. The First Fill program provides free one-time prescription processing prior to establishing a claim, preventing an out-of-pocket expense for injured workers.

While you can start a quote online to get an idea of your premium, you’ll need to speak to an agent to get an accurate quote and finish enrollment.

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Why We Chose It

Chubb earned an above-average ranking in J.D. Power’s 2021 Small Commercial Insurance Study and has fewer complaints with the NAIC than the average company of its size.

Founded in 1882, Chubb is one of the top business insurance providers by market share and has a fantastic reputation for both customer service and financial strength. Chubb has an "A++" (Superior) financial strength rating from AM Best. It was the top-rated provider in J.D. Power’s 2020 Small Commercial Insurance Study and was ranked above average in the 2021 study.

What’s more, the company’s overall complaint index with the NAIC is only 0.66, indicating fewer complaints than average for a company of its size. Chubb is also committed to responding to customers within 24 hours and issuing checks within 48 hours for claims about lost time, and it provides easy online claims reporting and management. 

Employees will have access to a preferred provider network for affordable care, and there’s a Return-to-Work program that helps keep costs low. Furthermore, Chubb offers a range of insurance products to meet the needs of business owners. You can add workers' compensation to the Chubb business owner’s policy for broad protection, and supporting products such as commercial auto insurance are also available. This allows for a great degree of customization, but you’ll need to speak to an agent to get a quote and apply for a policy.

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Why We Chose It

biBERK, a Berkshire Hathaway company, offers direct insurance—with savings of up to 20% compared to competitors—and an easy online quote and application process that takes five minutes.

If you want to secure coverage online without having to speak to an agent, biBERK may fit the bill. It uses an automated, online system for generating quotes and issuing policies and since biBERK provides insurance directly, the company claims it can save you up to 20% when compared to competitors. However, biBERK doesn’t offer additional bundling discounts, even though they do offer a range of other insurance products. 

Although biBerk has only been around since 2015, Berkshire Hathaway was founded in 1839 and has an "A++" (Superior) financial strength rating from AM Best and very few complaints with the NAIC in recent years. It is not rated by J.D. Power.

Although biBERK doesn’t offer the same resources as some other companies, such as safety training and access to a nurse hotline, it’s a great option for quick coverage, especially for small businesses and independent contractors.