Benzinga's Workers' Compensation Insurance Methodology

We aim to provide comprehensive and unbiased reviews on Benzinga to help users understand and learn about workers comp insurance carriers We hope our reviews help lead you to the best insurance provider.

Meet the Reviewers

Sarah Horvath

Sarah Horvath is a financial writer located in New York City, New York. She focuses on the topics of insurance and investing for retirement. Horvath has written for numerous websites and publications, and her work regularly appears on websites like Robinhood’s news feed and Benzinga.

Melinda Sineriz

Melinda Sineriz is a personal finance writer who covers mortgages, personal loans, insurance and more. She worked for 8 years in the insurance industry as an agent and manager. She has written for several finance publications, including Business Insider.

Eric Huffman

Eric is a personal finance and insurance writer licensed in property, casualty, and life insurance lines. He has worked directly with clients, helping them find the best coverage to protect their business or family.

Review Process

For workers comp insurance carriers, Benzinga created a weighted scale based on the following criteria: coverage options, types served, customer service experience, ease of use with online tools. Reviewers meticulously researched each category and rated it based on the following metrics.

Coverage Options

Weight: 50%

  • Has policy options for medical treatments, disability benefits, vocational rehabilitation, lost income and dealth and funeral services

  • Has 4 out of 5: medical treatments, disability benefits, vocational rehabilitation, lost income and dealth and funeral services

  • has 3 out of 5: medical treatments, disability benefits, vocational rehabilitation, lost income and dealth and funeral services

  • Has 2 out of 5: medical treatments, disability benefits, vocational rehabilitation, lost income and dealth and funeral services

  • Has 1 out 5: medical treatments, disability benefits, vocational rehabilitation, lost income and dealth and funeral services

Industry Specialization

Weight: 20%

  • You can insure 20 - 22 of the following industries: arborists/landscaping, associations, business services, contractors/construction, cultural, education, energy, finance, healthcare, livestock, manufacturers, personal care services, pet services, publishers/printers, professional services, real estate/related, restaurants/food, retail, security, specialized truck equipment, technology, wholesale/distributors

  • You can insure 19 - 16 of the following industries: arborists/landscaping, associations, business services, contractors/construction, cultural, education, energy, finance, healthcare, livestock, manufacturers, personal care services, pet services, publishers/printers, professional services, real estate/related, restaurants/food, retail, security, specialized truck equipment, technology, wholesale/distributors

  • You can insure 15 - 13 of the following industries: arborists/landscaping, associations, business services, contractors/construction, cultural, education, energy, finance, healthcare, livestock, manufacturers, personal care services, pet services, publishers/printers, professional services, real estate/related, restaurants/food, retail, security, specialized truck equipment, technology, wholesale/distributors

  • You can insure 12 - 10 of the following industries: arborists/landscaping, associations, business services, contractors/construction, cultural, education, energy, finance, healthcare, livestock, manufacturers, personal care services, pet services, publishers/printers, professional services, real estate/related, restaurants/food, retail, security, specialized truck equipment, technology, wholesale/distributors

  • You can insure 9 or fewer of the following industries: arborists/landscaping, associations, business services, contractors/construction, cultural, education, energy, finance, healthcare, livestock, manufacturers, personal care services, pet services, publishers/printers, professional services, real estate/related, restaurants/food, retail, security, specialized truck equipment, technology, wholesale/distributors

Carrier Customer Service

Weight: 15%

  • Offers text chat, call, email options
  • Special services for disabled
  • Can chat with a live person in less than 2 minutes

  • Offers text chat, call, email options
  • Special services for disabled
  • Can chat with a live person in less than 5 minutes

  • Offers (2/3) text chat, call, email options
  • Special services for disabled
  • Can chat with a live person in less than 10 minutes

  • Offers (1/3) text chat, call, email options
  • No special services for disabled
  • Can chat with a live person in less than 15 minutes

  • Offers (1/3) text chat, call, email options
  • No special services for disabled
  • Can chat with a live person in less than 20 minutes

Online Tools

Weight: 15%

  • You can get an online quote or use an estimating tool
  • Has online account management
  • More than one way to make a claim
  • Forms available online
  • FAQ easily accessible on the website
  • Can easily navigate to policy comparison tables or explanations

  • You can get an online quote or use an estimating tool
  • Has online account management
  • More than one way to make a claim
  • Forms available online
  • FAQ easily accessible on the website
  • No policy comparison tables or explanations

  • You can get an online quote or use an estimating tool
  • Has online account management
  • More than one way to make a claim
  • Forms available online
  • No FAQ
  • No policy comparison tables or explanations

  • You can't get an online quote but there is an estimating tool
  • No online account management
  • Only one way to make a claim
  • Forms available online
  • No FAQ
  • No policy comparison tables or explanations

  • You can't get an online quote
  • No online account management
  • Only one way to make a claim
  • No forms available online
  • No FAQ
  • No policy comparison tables or explanations

Methodology

Benzinga crafted a specific methodology to rank workers comp insurance. We prioritized carriers based on coverage options, specialized industries, customer service experience and how quickly and easily you're able to get insured including online tool usage. We also included workers comp insurance quote aggregators in lists to make it easy and efficient to compare policy quotes and options. To see a comprehensive breakdown of our methodology, please visit see our Workers' Compensation Insurance Methodology page.

Most Dangerous Industries Per State

The construction industry reports the most injuries and workers' compensation claims in 38 out of 50 states.

Second place goes to the forestry industry, followed by the transportation industry. By law, businesses with more than 1 employee must carry workers' compensation insurance. Workers' compensation insurance protects both your business and employees and creates a safety net for wage replacements and medical benefits.

Use our calculator to determine how much workers' compensation will cost you and your business.

Sources