We considered coverage options, affordability, and customer satisfaction when determining Nebraska's best workers' compensation insurance. Among the competitors, Pie emerged as the best overall company.

Small business owners need workers' compensation insurance to meet state requirements and ensure coverage for work-related illnesses and injuries. The Hartford, with an average monthly cost of $147, offers the necessary protection and peace of mind for small business employers and employees in Nebraska.

Key Takeaways

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Based on a comprehensive assessment considering coverage options, affordability, and customer satisfaction, The Hartford ranks as the best workers' compensation insurance provider in Nebraska. This company is recognized for its financial stability and outstanding customer service, making it a reliable choice for small business owners.

Key Details About The Best Workers' Compensation Insurance Provider in Nebraska:

- Ranking: The Hartford is the top-ranked company for workers' compensation insurance in Nebraska, as per the MoneyGeek score.
- Average Monthly Premium: The Hartford offers an average monthly cost of $147, providing comprehensive coverage at competitive pricing.
- Financial Stability and Customer Service:
- The Hartford is known for its strong financial footing, ensuring that it can reliably meet its policyholders' claims.
- The company is also praised for excellent customer service, emphasizing responsiveness and support, enhancing user satisfaction across its client base.

Coverage Options:
- Micro Businesses: The Hartford is particularly suited for micro businesses with five employees, offering a monthly premium of $60 for businesses with an annual payroll of $312,500.
- Comprehensive Benefits: Coverage includes medical care, disability benefits, lost wages coverage, vocational rehabilitation, and death benefits.

Alternative Option:
- Pie Insurance: Best suited for midsize businesses with 100 employees and an annual payroll of $6,250,000, providing competitive rates at a monthly premium of $437.

For small business owners in Nebraska looking to meet state requirements and protect their employees from work-related illnesses and injuries, The Hartford stands out as the premier provider for workers' compensation insurance.

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The cheapest workers' compensation insurance provider for businesses in Nebraska is Pie Insurance, with an average monthly premium of $100. This makes Pie an excellent option for cost-conscious businesses seeking to balance affordability with necessary worker protection. 

For businesses—particularly those with 20 employees and an annual payroll of $1,250,000—Pie’s affordable rates can provide significant savings over time compared to the state's average monthly cost of $193. Moreover, Pie Insurance offers comprehensive coverage that meets Nebraska's state requirements and ensures businesses are protected from the financial implications of work-related illnesses and injuries.

Cost-conscious businesses stand to benefit from Pie’s competitive premiums, allowing them to allocate resources more efficiently while maintaining compliance with legal obligations. The affordability factor, combined with adequate coverage, makes Pie an appealing choice for small to midsize businesses aiming to reduce expenses without compromising on employee protection. Pie Insurance’s pricing structure based on employee count and payroll helps businesses of varying sizes manage their workers' compensation costs effectively.

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Workers' compensation insurance premiums in Nebraska, as in other states, are influenced by a variety of factors that can cause significant variations in rates among businesses. Here's a detailed look at the primary factors:

1. Number of Employees: More employees generally equate to a higher risk of work-related injuries or illnesses, which can increase insurance premiums. Small businesses, like those with fewer than ten employees, often have different rate structures compared to businesses with more extensive workforces.

2. Payroll Size: The total payroll of a company is a key determinant of workers' compensation premiums. Larger payrolls mean a greater baseline for calculating premiums, leading to higher overall costs. For instance, Pie Insurance offers competitive rates for businesses with $1,250,000 in annual payroll versus those with larger payrolls of $6,250,000.

3. Industry and Employee Class Codes: Different industries have varying levels of risk associated with them. High-risk industries, like construction, tend to have higher premiums compared to lower-risk sectors (e.g., professional services). Employee class codes reflect the risk associated with specific job functions, impacting premium calculations.

4. Claims History: Businesses with a history of frequent or severe claims typically face higher premiums, as they represent a higher risk to insurers. Maintaining a safe workplace can result in fewer claims and potentially lower premiums over time.

5. Location: The geographic location can also influence premium rates due to state-specific regulations and the local risk environment. In Nebraska, business insurance costs may slightly exceed the national average, as shown by the average monthly cost of $193 for a business with 20 employees.

6. Policy Limits: The coverage limits selected by a business also affect premiums. Nebraska's common limits include $1 million for the total policy, per accident, and per employee. Higher limits generally lead to higher premiums, as the insurer has increased financial exposure.

It's important for small and mid-sized businesses in Nebraska to carefully consider these factors when selecting an insurance provider to ensure they receive adequate and affordable coverage. Notably, Pie Insurance stands out for its affordability, making it a good choice for businesses with varying payrolls and employee counts. Conversely, The Hartford is well-suited for micro businesses with comprehensive and competitive pricing tailored to small employee numbers.

Why Trust MoneyGeek? We collected 677 workers’ compensation insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best workers’ compensation insurance companies for small businesses in Nebraska.

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Coverage costs and company information for workers' compensation insurance providers in Nebraska were last updated in 2023.

677Quotes Analyzed
 
6Companies Compared
 
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Best Workers’ Compensation Insurance in Nebraska

The Hartford is the top-ranked company for workers' compensation insurance in Nebraska, earning an impressive MoneyGeek score. With an average monthly cost of $147, this insurer provides comprehensive coverage and competitive pricing.

Small business owners in Nebraska need workers' compensation insurance to meet state requirements and protect employees by covering the costs of work-related illnesses and injuries.

How was this MoneyGeek score calculated?


1
The HartfordBest Overall in Nebraska
Score:97

4.3/5

Affordability

5/5

Customer Satisfaction

4/5

Financial Stability

4/5

Online Quote Process

Geek Quick Take
Geek Quick Take
  • The Hartford excels in financial stability, complaints management and a streamlined online quote process.
  • The average monthly cost for The Hartford is $147, making it a competitive choice for comprehensive workers' compensation insurance.
More About The Hartford

The Hartford is a reputable workers' compensation insurance provider known for its financial stability and commitment to customer service.

However, affordability is where The Hartford scored lower, indicating its premium rates may be comparatively high.

Despite this, The Hartford has a strong track record in the workers' compensation insurance industry. For businesses prioritizing financial stability and quality coverage, The Hartford is a reliable choice.

2
biBERK
Score:96

4/5

Affordability

4/5

Customer Satisfaction

5/5

Financial Stability

4/5

Online Quote Process

Geek Quick Take
Geek Quick Take
  • biBERK demonstrates financial stability and promptness in providing online quotes. Plus, it has a strong record for managing customer complaints.
  • Its workers' compensation insurance coverage carries an average monthly cost of $171.
More About biBERK

biBERK has an excellent reputation for financial stability and complaint management. Its commitment to insurance customers' satisfaction is shown through prompt responses when addressing complaints. However, biBERK scored relatively low in terms of affordability.

Nevertheless, businesses can rely on biBERK's robust financial stability and expertise when it comes to workers' compensation insurance. By offering tailored coverage options and comprehensive support, biBERK helps businesses receive necessary protections.

3
Next
Score:94
4
Thimble
Score:94
5
Pie
Score:92
6
Nationwide
Score:88

Cheapest Workers’ Compensation Insurance in Nebraska

Pie is the cheapest company in Nebraska for workers' compensation insurance, averaging $100 per month. This affordability is particularly advantageous for businesses with 20 employees and $1,250,000 in annual payroll costs. The number of employees and the payroll amount play a significant role in determining insurance costs.

Businesses should [consider these factors]. (#factors-that-impact-workers-comp) when selecting an insurance provider and ensuring adequate coverage.

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MoneyGeek Top Pick
Pie

Pie, the cheapest workers' compensation insurance provider in Nebraska, stands out in terms of affordability and cost. It scored high in offering competitive pricing, reflected in its average monthly premium of $437. However, it scored lower in areas like financial stability, which may indicate a trade-off for the lower cost.

Despite these considerations, Pie's emphasis on providing cost-effective coverage makes it a viable choice for businesses seeking affordable workers' compensation insurance in Nebraska.

Pie$100$1,193
Thimble$122$1,342
The Hartford$147$1,758
biBERK$171$1,806
Next$175$2,102
Nationwide$444$5,331

Best Workers’ Compensation Insurance for Micro Businesses in Nebraska

The Hartford is the best company for micro businesses—in this case, meaning businesses with five employees. It offers a monthly premium of $60 based on an annual payroll amount of $312,500. Businesses with one to nine employees are typically considered micro businesses, and five is right in the middle of that count.

While employee count plays a role in workers' compensation insurance costs, payroll has a greater impact. Its competitive rates make it an attractive option for Nebraska micro businesses seeking comprehensive workers' compensation coverage.

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MoneyGeek Top Pick
The Hartford

The Hartford scored highest in affordability, making it an appealing choice for businesses looking to manage expenses effectively.

However, The Hartford scored lower for financial stability. Balancing cost and stability can help ensure reliable protection and support for workers' compensation needs. So you should consider both factors before choosing a workers' compensation insurer for your company.

Best Workers’ Compensation Insurance for Midsize Businesses in Nebraska

Pie Insurance is the top choice for businesses with 100 employees and an annual payroll of $6,250,000, with a monthly premium of $437.

The higher number of employees increases the cost, but not as much as the upped payroll dollars do. Consider both factors when evaluating insurance needs.

Pie Insurance offers competitive pricing for midsize businesses' payroll and employee count, making it a solid option in this category.

mglogo
MoneyGeek Top Pick
Pie

Pie Insurance excels in providing cost-effective workers' compensation insurance for businesses with 100 employees and an annual payroll of $6,250,000. Its monthly premium of $437 shows its comparative affordability for larger businesses.

However, Pie Insurance scored relatively low in financial stability. While cost is a significant factor for businesses, it's essential to consider the overall financial strength of the insurance provider.

How Much Is Workers’ Compensation Insurance in Nebraska?

For a Nebraska business with 20 employees, the average monthly workers' compensation insurance cost is $193. This is slightly higher than the national average of $168 per month. Workers' compensation insurance costs depend on factors like industry, claims history and location.

When considering workers' compensation insurance, you must understand the policy limits. In this case, the policy limits are:

  • $1 million for the total policy
  • $1 million per accident
  • $1 million per employee

"Total policy limit" refers to the maximum amount the insurer covers for all claims within the policy period. The "per-accident limit" is the most the insurer would cover for a single incident, and the "per-employee limit" is the max the insurer would pay for an individual employee's claim. You can see it's important to keep a safe workplace, even with excellent workers' comp insurance, so one big issue doesn't clean you out!

Employee count and payroll impact the cost of workers' compensation insurance. As shown in the table below, the average cost of workers' compensation insurance increases with a larger number of employees because more employees generally translate to a higher risk of work-related injuries or illnesses. Additionally, payroll is used as a basis for calculating the premiums; the larger the payroll, the higher the premiums are likely to be.

How was this cost calculated?

5$65$740
20$193$2,255
100$609$7,082

Factors That Impact Workers’ Compensation Costs in Nebraska

Factors like payroll costs, number of employees, employee class codes and previous claims affect workers comp insurance costs in Nebraska.

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    Payroll costs

    Businesses are typically charged a rate for every $100 of payroll. In Nebraska, the average premium index rate in 2022 was 1.25. This rate indicates the average charge per $100 of payroll and provides a benchmark for comparing costs.

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    Number of employees

    Companies with a larger workforce face a higher risk of employee injury, which can lead to higher premiums.

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    Employee class code

    These codes represent the type of work employees perform, like consulting, engineering or construction. The class code determines the rate charged for every $100 of payroll. Industries with a higher risk of injury, like construction, typically have higher rates.

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    Previous claims

    Businesses with a history of workers' compensation claims may experience higher insurance costs.

    According to the U.S. Bureau of Labor Statistics, Nebraska recorded 29,800 recordable non-fatal occupational injuries and illnesses in the private industry sector. The national total was 2,607,900.

Do You Need Workers’ Compensation Insurance in Nebraska?

In Nebraska, workers' compensation insurance requirements apply to most employers.

Most businesses regularly employing one or more full- or part-time individuals must provide workers' compensation. Some exemptions exist for specific categories of workers, like certain farm laborers, domestic servants, independent contractors, and some very small businesses.

To determine if a specific worker or industry is exempt from workers' compensation coverage, refer to the Nebraska Workers' Compensation Court or consult legal resources for further information.

Additional details on exemptions and requirements can be found on the Nebraska Workers' Compensation Court's website. Employers need to understand their obligations and ensure compliance with workers' compensation laws.

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WORKERS’ COMP PENALTIES IN NEBRASKA

Failure to provide legally required workers' compensation insurance or comply with workers' comp laws in Nebraska can result in the following penalties:

  • Civil penalties: Employers may be subject to fines ranging from $250 to $10,000 per violation.
  • Stop work orders: The Nebraska Workers' Compensation Court can issue stop work orders, requiring employers to cease operations until compliance is achieved.
  • Criminal charges: In cases of intentional non-compliance or fraud, employers may face criminal charges, which can result in fines and potential imprisonment.

Employers need to adhere to workers' compensation laws to avoid these penalties and ensure the well-being of their employees.

What Does Workers’ Compensation Insurance Cover in Nebraska?

Workers' compensation insurance provides significant benefits for employees who experience work-related injuries or illnesses. These include:

  • Medical care coverage: It covers the costs of necessary medical treatment, including hospital stays, surgeries, medications and rehabilitation services.
  • Disability benefits: Injured or ill employees may be eligible for disability benefits, which can replace some lost wages during recovery.
  • Lost wages coverage: Workers' comp insurance may provide income replacement for employees who can’t work because of a work-related illness or injury.
  • Vocational rehabilitation: In some cases, workers' comp insurance covers vocational rehabilitation services to help injured employees return to suitable employment if unable to continue their previous job.
  • Death benefits: If an employee dies due to an injury or illness gotten at work, workers' comp insurance can provide death benefits to the employee's dependents.

The employer is the policyholder for workers' compensation insurance, and this coverage plays a crucial role in protecting and supporting employees in the event of work-related injuries or illnesses.

Workers’ Compensation Insurance Resources for Employees in Nebraska

The oversight of workers' compensation in Nebraska is carried out by the Nebraska Workers' Compensation Court, which ensures employees receive benefits under the state's workers' compensation laws.

To claim compensation benefits, employees in Nebraska should take the following steps:

  • Promptly report the work-related injury or illness to their employer.
  • Seek medical treatment from an authorized healthcare provider.
  • Complete the required claim forms from their employer or the Nebraska Workers' Compensation Court.
  • Submit the completed forms and necessary documentation to the employer or insurance company.
  • Fully cooperate with any investigations or examinations related to the claim.

Frequently Asked Questions About Workers’ Compensation Insurance in Nebraska

Here are the answers to frequently asked questions about workers' compensation insurance in Nebraska.

Which company has the best workers’ compensation insurance in Nebraska?

Which company has the cheapest workers’ compensation insurance in Nebraska?

Does Nebraska require businesses to have workers’ compensation insurance?

How much does workers’ compensation insurance cost in Nebraska?

About Melissa Wylie

Melissa Wylie headshot

Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.

Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

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