Man smiling looking down at his tablet
Workers' Compensation Insurance
Almost every state requires this policy for tech businesses that have employees.
Get advice tailored for tech entrepreneurs.
24 hrs
Access proof of insurance anytime.

How much does workers’ compensation insurance cost?

The cost of workers’ compensation primarily depends on the number of employees at your tech company.

Workers’ compensation insurance costs for TechInsurance customers

Tech businesses pay a median premium of $36 per month, or $436 per year, for workers’ compensation insurance. This median price gives you a better idea of what you might pay than an average value, which includes high and low extremes.

Larger tech companies with more employees will pay more for this policy. Though it's not usually an issue for tech companies, businesses with higher occupational risks also pay more for this coverage.

Policy limits affect a tech business’s premium

Workers’ comp does not have limits for how much it pays out on an injury or illness. However, most workers’ compensation policies include employer’s liability insurance, which does have limits.

Employer’s liability insurance pays an employer’s legal costs up to the policy limit if an employee sues over a work injury or illness. Higher limits cost more, but you can also receive a higher payout on a claim.

Compare business insurance quotes for your tech company

Tips for saving money on workers’ compensation insurance

Beyond choosing lower employer's liability limits, a tech business can save money in other ways:

Pay your annual premium in full. When you purchase a policy, you can pay your premium in monthly or annual installments. The annual premium often costs less than paying month by month.

Manage your risks. Technology companies with no previous claims on their insurance can expect to pay less for business insurance. Business owners can avoid claims with a risk management plan for workplace safety. That could include:

  • Employee safety training
  • Prompt cleanup of spills
  • Tidying loose power cables, etc.
  • Reduction of workplace hazards

What do tech companies pay for other policies?

Not a tech business? We have you covered.

Find the right policy with insurance quotes from leading providers.
Powered by Insureon.
We partner with trusted A-rated insurance companies