The average cost of workers' compensation insurance in the United States is $936 per employee, per year, or $78 per month. Due to this; Business owners across America are starting to realize how expensive it can be to go without workers compensation insurance.
Workers' compensation premiums will vary significantly based on several factors; such as how long you have been in business, the state that your business is currently in, or how much your annual payroll is.
In this post we will cover the average cost of workers compensation insurance by state, and the average cost of business insurance by policy type.
Average Small Business Insurance Costs By Policy Type
Type Of Policy | Average Annual Cost |
|---|---|
$780 | |
Business Owner's Policy (BOP) | $1,188 |
Professional Liability (E&O) | $1,164 |
Worker's Compensation | $1,332 |
Commercial Umbrella Policy | $1,548 |
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Average Cost Of Workers Compensation Insurance By State
STATE | AVG. MONTHLY PREMIUM | STATE | AVG. MONTHLY PREMIUM |
|---|---|---|---|
$28 | $16 | ||
$28 | $25 | ||
$23 | $23 | ||
$28 | $106 | ||
$23 | $16 | ||
$26 | $26 | ||
$21 | $16 | ||
$38 | $22 | ||
D.C. | N/A | North Dakota | N/A |
$24 | N/A | ||
$17 | $26 | ||
$35 | $16 | ||
$16 | $23 | ||
$50 | $16 | ||
$16 | $42 | ||
$34 | $42 | ||
$56 | $33 | ||
$33 | $16 | ||
$39 | $16 | ||
$48 | $39 | ||
$35 | $24 | ||
$16 | Washington | N/A | |
$19 | $39 | ||
$16 | $85 | ||
$16 | Wyoming | N/A | |
$42 |
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