8 Best Workers' Compensation Insurance Companies of 2023

A guide to the best workers' comp coverage for your business type.

Christine Lacagnina Written by Christine Lacagnina
Christine Lacagnina
Written by Christine Lacagnina

Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.

paul martin Reviewed by Paul Martin
paul martin
Reviewed by Paul Martin

Paul Martin is the Director of Education and Development for Myron Steves, one of the largest, most respected insurance wholesalers in the southern U.S.

Engineer walking on the steel bridge cross over at workplace. Find Best Companies Workers' Compensation.

Find the Top Workers' Compensation Insurance Company for Your Business

You need workers' compensation insurance, but how do you know which insurance companies offer the best coverage for your business type and where to find them? These questions can be complex and aren't necessarily simple to answer. Fortunately, an independent insurance agent can be a great ally in your search for the right coverage. We've ranked some of the best workers' comp insurance companies to help make your search easier.

The Best Workers' Compensation Insurance Companies of 2023

We broke our picks for the best workers' comp insurance companies of 2023 down into several specific categories for your convenience. Take a look at our choices for who offers the best workers' compensation insurance around.

Best Overall Workers’ Compensation Insurance Company: Hiscox

Hiscox insurance logo

We chose Hiscox as our pick for the overall best workers' comp insurance. For starters, Hiscox has excellent ratings from the Better Business Bureau (BBB) and AM Best. It's also a longstanding carrier, dating all the way back to 1901. If you're in need of the best workers' compensation insurance around, look no further than Hiscox. 

Pros and Cons

Pros: Cons:
Founded in 1901
US reach is limited
International carrier
Not BBB accredited
Excellent user-friendliness
Excellent ratings by AM Best and the BBB

Coverage Highlights

  • Offers stand-alone or bundled coverage
  • Also offers general liability and professional liability for businesses
  • Offers option to combine coverage with a business owners policy (BOP)

Hiscox was founded in 1901, meaning the carrier's had more than 120 years to perfect their craft in the insurance industry. Over its many decades in the business, Hiscox has grown to become a leading specialist insurer in the US. Hiscox is a leader in the small business insurance category, offering outstanding workers' comp coverage. 

Hiscox's coverage is offered in 49 states across the US. According to Hiscox's LinkedIn profile, the carrier has more than 2,400 employees. In terms of financial size, Hiscox is equally impressive. AM Best places the carrier in the $2 billion or greater category.

Thanks to its extensive history, outstanding financial strength, and nearly nationwide reach, Hiscox has earned a reputation as a stable insurance company with a great outlook for the future. AM Best, the leading global credit rating agency monitoring the insurance industry, gives Hiscox an “A” rating, indicating the carrier is an excellent choice for insurance customers.

Best Workers’ Compensation Insurance for Small Businesses & Start-Ups: EMC Insurance Companies

EMC Insurance logo

Our pick for the best workers' comp insurance for small businesses goes to EMC Insurance Companies. For starters, the carrier makes shopping for the perfect amount of coverage for small businesses of any size incredibly simple. EMC also offers loss control solutions such as safety resources for businesses of all kinds to prevent incidents from occurring in the first place. Additionally, EMC earns our pick as having the best workers' comp insurance for small businesses thanks to its additional features included with coverage, like a return-to-work program for injured employees and a 24/7 on-call nurse.

Pros and Cons

Pros: Cons:
Offers loss control solutions
Does not specify how many employees are required to get a policy
Offers a return-to-work program
Bundling options are not advertised online
Offers a 24/7 on-call nurse
Online match with an agent service

Coverage Highlights

  • More than 110 years of workers' comp experience
  • Additional perks offered with policies
  • Coverage sold through independent insurance agents

EMC Insurance was founded in 1911, giving them more than a century of expertise in the industry. The carrier specializes in business products, making them an ideal match for workers' comp customers. 

Matching with an agent is extremely simple, thanks to EMC's website. Customers can get matched to an independent insurance agent within minutes.

The insurance company has excellent customer service ratings, as well many modern customer service options like online bill pay and online claims reporting. EMC has an "A+" or excellent rating from the BBB and an "A" or "excellent" rating for financial strength from AM Best.

Best Workers’ Compensation Insurance Company for Quick Coverage: Central Insurance Companies

Central insurance logo

Our pick for the best insurance company for quick workers' comp coverage goes to Central Insurance. Coverage is available quickly and conveniently for customers, thanks to the insurance company's online tool to find an independent insurance agent. Customers can receive quotes or get matched to the right policy for them within minutes.

Pros and Cons


Several discounts available
Coverage is only available in 24 states
Great customer service ratings
Longstanding carrier

Coverage Highlights

  • Coverage available through an online find-an-agent tool
  • Safety training provided
  • 24/7 online nurse provided with coverage
  • Coverage sold through independent insurance agents

Founded in 1876, Central Insurance is certainly one of the more experienced carriers around today. This is just one reason so many customers trust the carrier with their coverage needs.

Central Insurance holds an "A" or "excellent" rating for financial strength from AM Best. The carrier's also earned an "A+" or "excellent" rating from the BBB.

Central Insurance earns our top recommendation for quick coverage because of its highly efficient and convenient online "match with an independent insurance agent" tool. Customers can ask their agent about bundling workers' comp coverage with other business insurance or buy it separately.

Best Overall Workers’ Compensation Insurance for High-Risk Industries: Nationwide

Nationwide Insurance Logo

Making our top selection for the best overall workers' compensation insurance for high-risk industries such as construction was easy thanks to Nationwide. Customers can buy workers' comp as a single policy or bundle it together with other coverages such as equipment breakdown insurance or general liability. Nationwide also boasts excellent ratings from AM Best and the BBB and has outstanding financial stability. 

Pros and Cons

Pros: Cons:
Founded in 1925
Some mixed customer feedback
Offers coverage for large and small businesses
May have to go through an agent to obtain a quote
Specializes in coverage for the construction industry
Excellent ratings from AM Best and the BBB

Coverage Highlights

  • Available as a stand-alone policy or bundled together with liability, etc. 
  • Comes with free resources such as fleet safety seminars
  • Can be bundled with construction equipment insurance

Nationwide dates back to 1925, giving them almost a century of experience. The carrier has evolved from a small car insurance company to one of the largest insurance and financial services companies globally. 

Insurance for construction and contracting companies is offered by Nationwide, along with several other unique niche industries. That makes them the perfect choice for high-risk businesses in need of workers' comp. Coverage can be purchased as a single policy or bundled with a construction insurance policy, or paired with other coverages such as general liability.

Nationwide also has excellent long-term financial strength and stability. They've earned an "A+" rating from AM Best. 

Best Workers’ Compensation Insurance Company for Retailers: Travelers

Travelers insurance logo

Travelers claims our pick for the best workers' compensation insurance company for retailers. Travelers is famous for having excellent ratings in both financial strength and customer service. The carrier is also the nation's largest workers' comp insurer. But Travelers really earns our top pick in this category thanks to their flexible workers' comp coverage, which allows it to be customized to meet the needs of a specific industry, such as retail.

Pros and Cons

Pros: Cons:
Nation's largest workers' comp insurer
Doesn't offer online quotes
Offers 24/7 claims reporting and customer service
Prices vary by business industry and company operations
Superior rating by AM Best
Excellent customer service
Excellent financial strength

Coverage Highlights

  • Flexible coverage options to fit your industry niche
  • Coverage offered for many types of small businesses, including retailers
  • In-house nurses and medical professionals to help injured employees return to work fast

One of the oldest and largest insurers in the country, Travelers was founded in 1853. The carrier maintains consistently excellent ratings in just about every category, including customer service. Travelers primarily sells insurance through independent insurance agents, and its independent agent network extends across the United States, Canada, the United Kingdom, and Ireland. 

Travelers has highest possible rating of "A++" or "superior" from AM Best and has demonstrated ongoing outstanding financial strength over the years.

Workers' comp for retailers is done right by Travelers. The insurance company offers flexible workers' comp that can be customized to match the policyholder's industry. But Travelers takes their coverage even one step further by offering in-house medical professionals to help injured employees return to work quickly.

Best Workers’ Compensation Insurance Company for Medical Providers: The Hartford

The Hartford insurance logo

Our choice for the best workers' comp insurance for medical providers is The Hartford, which dates way back to 1810. The Hartford works with outpatient offices, which makes them an easy choice for our top pick in this category. The carrier offers covered employees access to a pharmacy network and other great resources as well.

Pros and Cons

Pros: Cons:
Founded in 1810
Need an agent to help you obtain a quote or purchase coverage
Second-largest workers' comp insurer in the US
No medical malpractice insurance offered
Works with independent insurance agents
Excellent customer service ratings relative to size
"A+" ratings from AM Best and the BBB

Coverage Highlights

  • Offers an online portal for customers
  • Offers pay-as-you-go billing
  • Offers special needlestick protection
  • Offers access to pharmacy network and nurse case managers

The Hartford was founded in 1810, so they have over 200 years of experience under their belt. The Hartford has evolved over time from a small fire insurance company to a Fortune 500 company with excellent financial strength ratings.

The insurance company earns our top pick for workers' comp for medical providers thanks to their access to a pharmacy network and nurse case managers. Currently, The Hartford reportedly insures more than 105,000 outpatient small businesses across the country.

The Hartford's coverage is available almost nationwide, and the carrier boasts "A+" or "excellent" ratings from both AM Best and the Better Business Bureau (BBB). In terms of excellent customer service, The Hartford works with independent insurance agents, making them top-notch for personalized customer experiences.

Best Workers’ Compensation Insurance Company for Professional Offices: Progressive

Progressive insurance logo

Progressive earns our top pick for the best workers' compensation insurance company for professional offices. Thanks to their multitude of coverage options including professional liability, the carrier's workers' comp coverage is ideal for professional office settings. The carrier's reputation and high ratings also make them a top choice. 

Pros and Cons

Pros: Cons:
Excellent ratings by AM Best and the BBB
Offers workers' comp through a partner company
Excellent customer service
Terms vary by partner company
Highly user-friendly

Coverage Highlights

  • Coverage specifications vary by partner company
  • Coverage can be bundled with a BOP or other policies

Progressive has been around in the industry for quite a while now, dating back to 1937. The carrier offers small business insurance for more than 60 industries and offers workers' comp through its partner companies. Customers report that workers' comp sold through Progressive is affordable when compared to other carriers.

Workers' comp insurance can be bundled with general liability or professional liability, as well as a BOP or commercial auto policy through Progressive. Progressive also has outstanding financial strength and excellent ratings by the BBB.

Best Customer Service for a Workers’ Compensation Insurance Company: Liberty Mutual

Liberty Mutual insurance logo

Our top recommendation for the best customer service for a workers' comp insurance company is Liberty Mutual. The carrier offers a wide range of coverages needed by businesses of all sizes, including workers' comp. Customers can also expect a great shopping and claims experience thanks to Liberty Mutual offering its coverage through independent insurance agents.

Pros and Cons

Pros: Cons:
Offers 24/7 claims reporting
Excellent ratings by AM Best and the BBB
Uses independent insurance agents
User-friendly customer service

Coverage Highlights

  • Offers return-to-work services for injured employees
  • Offers services to help identify worksite hazards
  • Fast and efficient claims handling
  • Offers businesses recommendations to reduce accidents in the workplace

Liberty Mutual has had more than a century of experience with customer service, having been originally founded in 1912. The carrier is the sixth-largest global property and casualty insurer. 

Liberty Mutual offers workers' comp and tons of other solutions for businesses, including equipment breakdown insurance, environmental liability coverage, and more. The carrier is an easy top choice for customer service thanks to its work with independent insurance agents and 24/7 phone claims reporting.

As of 2021, Liberty Mutual had a reported $156 billion in assets and $48.2 billion in revenue. The carrier was ranked 75th on the Fortune 500 list. Liberty Mutual has also grown significantly in coverage territory over the years; its reach extends globally.

How We Select the Best Workers’ Compensation Insurance Companies

We evaluated and compared more than a dozen workers' compensation insurance companies across the US to come away with the final choices for our list. We looked for carriers that worked with independent insurance agents and had other outstanding customer service practices. Then we broke down our list into eight specific categories to help make shopping for workers' comp more streamlined depending on the customer's or business's needs. Financial strength and website user-friendliness were also considered when crafting our final list.

What Is Workers' Compensation Insurance?

Workers' compensation insurance is the coverage needed by an employer to pay for medical expenses of employees who get injured or ill while working or otherwise due to job-related activities. Most states make coverage mandatory if a business has a certain number of employees.

Workers' comp provides protection not only for employees on the job but also for the employer. If a business covers its workers with a workman's comp policy, their employees automatically forfeit the right to sue the business for a work-related incident in exchange for these benefits.

What Companies Provide Workers’ Compensation Insurance?

Knowing which company provides the best workers' comp coverage for your industry can be daunting, but an independent insurance agent can help guide you. Here's a guide to some of our most highly recommended workers' comp companies. 

Workers' Compensation Insurance Company Why They're the Best
The Hartford The Hartford has proven to be one of the best overall commercial carriers for small to medium-sized businesses. With a comprehensive coverage offering and low premiums, they're a real winner.
Travelers Travelers also provides great small to medium-sized business accommodations and has a more conservative appetite when it comes to risk. 
Liberty Mutual Liberty Mutual focuses on small business owners and is ideal for franchised restaurant owners.
Zurich North America Zurich North America is great for growing businesses with national exposure and focuses on the construction industry.
Berkshire Hathaway GUARD Berkshire Hathaway GUARD accommodates small to medium-sized business owners. The carrier requires other lines of business in order to write workers' comp, but they have some of the best rates and an emphasis on coverage for restaurants.
EMPLOYERS EMPLOYERS focuses on businesses with fluctuating or seasonal employment needs like retail and restaurants.
AIG AIG places an emphasis on high-claim industries concerned about workers’ compensation fraud from construction to healthcare.
AP Intego AP Intego is ideal for the business owner who wants to pay as they go for workers' compensation insurance.
State Workers' Compensation Pool Most states have a workers' compensation pool. New business owners or business owners who have been ousted by their current workers' compensation providers can turn to the state and expect to pay much higher premiums. 
ICW Group Insurance Companies ICW Group is a full service carrier that aims to help businesses file fewer workers' comp claims, as well as achieve less costly claims and lower experience mods.
Encova Encova offers workers' comp for businesses of any size and works with your business to help prevent claims before they occur, as well as to reduce the cost of these claims.
Central Insurance Companies Not only does Central Insurance Companies provide quality workers' comp coverage, they also provide a 24/7 nurse hotline for injured workers to file their claims and speak to a registered nurse who can help point them to the right care.
State Auto State Auto provides coverage for small businesses and middle market accounts and offers a solution for employers that have experience modifications who have experienced lost time due to claims of soft tissue injuries.
The Hanover Insurance Group The Hanover Insurance Group offers 24/7 claims reporting and offers bundling discounts when you combine workers' comp with any other policy through the carrier. Hanover customers also have access to a 24/7 phone nurse service for expert advice on their injury or illness.
Nationwide Nationwide works with businesses to find them the right type of coverage for their industry at an affordable rate while offering excellent customer service as reviewed by existing policyholders.
Westfield Insurance Westfield Insurance offers several programs to help injured or ill workers recover and get back to work as quickly as possible in addition to offering quality coverage.
EMC Insurance EMC Insurance offers loss control solutions and medical management services to help your company prevent incidents before they happen, and help any injured or ill employees return to work ASAP. Their early return-to-work programs can help your business save a lot of time and money.
West Bend West Bend offers a qualified nurse case manager program that aims to reduce the duration of an employee's injury, illness, or disability, as well as its overall cost.

An independent insurance agent can help you find workers' comp coverage from any of the above companies in your area. They'll help you determine which company best matches your unique business. 

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The Final Word on Workers' Comp Insurance Companies

The best insurance company for your industry's workers' comp coverage today may not be the best insurance company for your business's needs tomorrow. To stay updated on which carriers offer workers' comp for your industry, work with an independent insurance agent.

The Benefits of an Independent Insurance Agent

Independent insurance agents simplify the process by shopping and comparing workers' compensation insurance quotes for you. Not only that, but they’ll also cut the jargon and clarify the fine print, so you know exactly what you’re getting.

Independent insurance agents also have access to multiple insurance companies, ultimately finding you the best workers' comp coverage, accessibility, and competitive pricing while working for you.

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