Pie is North Carolina's best workers' compensation insurance provider, scoring 94 out of 100. The company offers dependable customer service, competitive rates and comprehensive coverage options. The Hartford and biBerk are also good runners-up to consider.
Cheapest Workers' Comp Insurance in North Carolina
Updated: June 20, 2025
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Key Takeaways
Pie, biBerk, The Hartford, Thimble and Nationwide are the best cheap workers' comp insurance providers in North Carolina.
For most small businesses in North Carolina, workers' compensation coverage costs around $655 per year or $56 per month.
Workers' comp insurance is required in North Carolina for all companies with employees to cover expenses from employees sustaining injuries or illnesses during business activities.
Best Cheap Workers’ Comp Insurance Companies in North Carolina
| Pie | 94 | $157 |
| biBERK | 87 | $227 |
| The Hartford | 89 | $216 |
| Thimble | 85 | $235 |
| Nationwide | 86 | $247 |
*Rates and scores are for software development businesses with small (five employees), medium (20 employees) and large (100 employees) operations, aggregated for an overall best recommendation.
Pie: Best Overall
pros
Most affordable provider
Low complaint index
High financial stability rating
cons
Lower customer satisfaction ratings
COMPANY HIGHLIGHTS
Pie saves North Carolina businesses an average of $26 per month compared to the next most affordable workers' compensation provider, making it the state's best choice regardless of company size. This cost advantage, combined with their A- AM Best rating and dedicated business insurance focus, allows them to offer comprehensive, specialized protection.
Best Cheap North Carolina Workers' Comp Insurance by Business Size
From small startups to large small enterprises, Pie consistently offers North Carolina's most affordable workers' compensation rates while maintaining its top provider status. Below are the company's rates for small, medium and larger small businesses.
| Pie | Businesses with five or less employees | $38 |
| Pie | Medium-size small businesses | $86 |
| Pie | Larger small businesses | $370 |
How Much Is Workers' Comp Insurance in North Carolina?
Workers' comp rates for North Carolina businesses range from $655 to $5,846 annually. This range applies only to software development companies. Your actual rates will vary based on:
- Number of employees
- Industry risk level
- Specific work performed by employees
- Claims history
| Larger small businesses | $499 | $5,846 |
| Businesses with five or less employees | $56 | $655 |
| Medium-size small businesses | $126 | $1,470 |
Factors That Impact Workers’ Compensation Costs in North Carolina
The cost of workers' compensation insurance varies for each business based on several factors:
Payroll costs
Your workers' compensation costs correlate directly with your total payroll expenses, as insurers base premiums on each $100 of employee earnings. Businesses with substantial wage commitments will see correspondingly higher insurance expenses than those maintaining leaner compensation structures.
Number of employees
More employees directly translate to higher workplace accident probabilities, which results in increased workers' compensation premiums for larger companies.
Employee class code
Construction, mining and manufacturing companies typically receive higher workers' compensation premiums than consulting, accounting and software development firms due to their respective class code classifications. Each class code identifies specific work categories and establishes the rate structure applied to every $100 of company payroll based on documented injury risks.
Previous claims
Your claims history directly influences your workers' compensation premium, as insurers analyze past workplace injuries, settlement costs, claim frequency and total expenses when calculating renewal rates. Companies with multiple claims, expensive incidents or patterns of similar injuries typically face premium increases, while businesses maintaining clean safety records often qualify for discounts and preferred pricing.
North Carolina Workers' Comp Insurance: Buyer's Guide
Finding the right business insurance can be challenging. We've broken down how to get the best workers' comp coverage, who needs it and what this type of policy covers to guide you.
How to Get the Best Workers' Comp Insurance in North Carolina
Here are the steps to help your organization get the best workers' compensation policy possible:
- 1
Learn about required coverages and options
Research your state's regulations first, as requirements and options vary widely. The coverage you need depends on your industry, organization size and claims history. Talk to a business insurance agent about what's right for your company before buying to avoid getting too much or too little workers' comp insurance.
- 2
Research costs and providers
Research average costs and providers for your specific business to determine which companies to get quotes from. Also, consider state-provided options and whether self-insurance is possible in your state.
- 3
Consult similar businesses
Gather personal recommendations, cautionary advice and detailed experiences from other business owners in your area who've gone through similar insurance decisions and provider relationships.
- 4
Compare multiple providers through different means
Use diverse quote channels, such as online comparison platforms, direct agent consultations and company websites. Your approach can affect pricing and terms significantly.
Do You Need Workers’ Compensation Insurance in North Carolina?
All North Carolina businesses must carry workers' compensation insurance. Sole proprietors, partners and corporate officers who fully own a corporation may choose to be excluded.
WORKERS’ COMP PENALTIES IN NORTH CAROLINA
In North Carolina, employers who don't provide required workers' compensation insurance or follow workers' comp laws may face:
- Daily civil penalties: Penalty of $1 per employee, minimum $50 but maximum $100 per day of non-compliance.
- Maximum annual penalty: Up to $36,500 per year ($100 per day), even if no workplace injuries occurred.
- Criminal charges - Class 1 misdemeanor: For employers who neglect to secure workers' compensation coverage.
- Criminal charges - Class H felony: For employers who willfully fail to secure workers' compensation coverage.
- Personal liability for officers: Officers and board members can be charged with Class H felony and held personally liable for benefits.
- Direct liability for all injury costs: Employers are liable for medical expenses and wage replacement benefits to injured employees.
What Does Workers’ Compensation Insurance Cover in North Carolina?
Workers' compensation insurance provides essential benefits to employees with work-related injuries or illnesses. This coverage typically includes medical care, disability benefits and lost wages for affected workers, paying 66% of weekly wages under North Carolina law. It protects employees while shielding businesses from potential legal claims related to workplace injuries or illnesses.
Best Workers' Compensation Insurance North Carolina: Bottom Line
Pie, biBerk and The Hartford are the best and most affordable workers' comp insurance providers in North Carolina. While we recommend these companies, compare rates and consult similar businesses in your industry to find the best deal.
Workers' Comp Insurance in North Carolina: FAQ
Below are answers to frequently asked questions about North Carolina workers' comp insurance from MoneyGeek experts:
Which company has the best workers’ compensation insurance in North Carolina?
Pie offers North Carolina's best workers' compensation insurance with competitive pricing (averaging about $86 per month) and a low complaint index. However, your best insurance option depends on your industry, workforce size and state requirements.
Which company has the cheapest workers’ compensation insurance in North Carolina?
Pie is North Carolina's most affordable workers' comp insurance provider and is the best choice for businesses of all sizes. Monthly rates start at $38.
Does North Carolina require businesses to have workers’ compensation insurance?
In North Carolina, workers' comp insurance is mandatory for all businesses, though sole proprietors, partners and corporate officers with full ownership may opt out.
How much does workers’ compensation insurance cost in North Carolina?
North Carolina small businesses with around 20 employees spend about $126 monthly on workers' compensation insurance.
How We Rated Workers' Comp Insurance Companies in North Carolina
MoneyGeek calculated workers' compensation insurance rates using a software development business with five, 20 and 100 employees to represent various organization sizes.
Our scoring methodology included:
- Affordability (60%): Overall cost compared to other providers and different business profiles
- Customer experience (30%): Ratings from actual customers, J.D. Power studies, AM Best financial stability ratings and our team's experience with quote processes
- Coverage (10%): Additional options beyond standard offerings and breadth of industries served
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- AM Best. "Best's Credit Rating Action." Accessed June 4, 2025.