In Wyoming, the price of workers compensation is set by the state, not by competing insurance companies. The Department of Workforce Services (DWS) publishes an industry base rate for each kind of work, and your cost is roughly that rate applied to the wages you pay in that work. Because there is no private market, you cannot shop the price down, but you also are not at the mercy of a carrier's swings: the state ran the numbers and cut its base rates about 15 percent for 2026 as of mid-2026, part of a multi-year decline. What you can control is that your people are in the right work category and your payroll is reported accurately.
Who this is for: Wyoming owners trying to understand what drives their comp bill and where the real savings are in a state-fund system.
The short version
- The state sets a base rate for each kind of work; your cost is that rate times the wages you pay in that work.
- There is no shopping on price, because Wyoming sells the mandatory coverage only through DWS.
- State base rates fell about 15 percent for 2026 as of mid-2026, continuing a multi-year downtrend.
- Rates reset every January, so your renewal figure can move even if nothing about your business changed.
- Your biggest levers are correct work categories and accurate payroll, not carrier shopping.
What drives your price
Three things set the number. The first is the kind of work, because the state charges more for higher-risk trades than for office work, so a roofing crew costs far more per payroll dollar than a bookkeeper. The second is your payroll, since the bill is a rate applied to wages; more wages in a risky category means more premium. The third is timing, because the state re-studies and resets its base rates every January, and the Governor approves the new schedule, so your figure can change at renewal on its own. Owners who elect their own coverage are figured differently: the state prices an owner on the statewide average wage rather than the owner's real pay.
| Business type | Illustrative annual workers comp | What moves it |
|---|---|---|
| Office or professional services | 300 to 1,500 dollars | Low-risk work category, modest payroll |
| Retail store | 800 to 3,500 dollars | More staff and handling work |
| Restaurant or cafe | 1,500 to 6,000 dollars | Kitchen risk and higher headcount |
| HVAC or small contractor | 2,500 to 10,000 dollars | High-risk trade category and field payroll |
| Roofing crew | Among the highest per payroll dollar | One of the riskiest categories the state rates |
Where the savings actually are
Because you cannot negotiate the rate, the money is in getting the inputs right. Make sure each worker is reported in the correct kind of work; putting a clerical worker in a field category, or lumping mixed duties into the riskiest one, quietly overcharges you. Report payroll accurately and keep clean records, so an audit does not add premium you did not expect. Keep your account current, since a lapse can cost you far more than the premium through lost legal protection. And price the coverage the state does not sell: the fund pays a hurt worker's benefits but will not defend you if you are sued, so budget for a stop-gap employers liability endorsement on your general liability policy.
A Casper example
Illustrative, not a quote. A Casper HVAC company pays 400,000 dollars a year in field wages and a smaller amount to an office coordinator. Its comp bill is the state's field-work base rate on the field payroll plus the much lower office rate on the coordinator's wages, so keeping those two split correctly matters. When the state cut base rates for 2026, the company's renewal came in lower even though its payroll held steady. The owner also carries stop-gap employers liability, because the state fund would pay an injured tech's benefits but would not defend a lawsuit. See our workers comp for HVAC contractors page.
Real questions Wyoming owners ask
How much does workers comp cost in Wyoming?
Your cost is the state's base rate for your kind of work applied to the wages you pay in that work. A low-risk office might pay a few hundred dollars a year, while a roofing or HVAC crew pays much more per payroll dollar.
Can I shop around for a cheaper price in Wyoming?
No. Wyoming sells the mandatory coverage only through the Department of Workforce Services, so there is no carrier to negotiate with. The savings come from correct work categories and accurate payroll, not from shopping.
Did Wyoming workers comp rates go up or down?
Down recently. The state cut its industry base rates about 15 percent for 2026 as of mid-2026, part of a multi-year decline. Because the state resets rates every January, your renewal figure can still move on its own.
Why did my renewal change when nothing changed?
Wyoming re-studies and resets its base rates every January, and the Governor approves the new schedule. Your premium can move at renewal because the state's rate for your kind of work changed, even if your business did not.
How is my premium calculated?
It is roughly the state's base rate for your kind of work multiplied by the wages you pay in that work. Higher-risk trades carry higher rates, so the mix of who you pay and what they do drives the total.
How is an owner's premium figured if I elect coverage?
The state prices an owner who elects coverage on the statewide average wage rather than your actual pay. That keeps owner coverage consistent, and once you elect it, the coverage must stay in place for two years.
What cost should I budget beyond the state premium?
Budget for stop-gap employers liability. The state fund pays a hurt worker's benefits but does not defend you in a lawsuit, so most employers add that endorsement to their general liability policy.
Why Wyoming owners choose Morrow
- We shop the right market for you. In Wyoming, mandatory workers compensation is sold only through the state, by the Department of Workforce Services (DWS), with no private carrier selling that mandatory coverage, so we help you open and run your state account correctly and place the stop-gap employers liability and other business coverages the state fund does not include.
- We catch pricing mistakes. Your price depends heavily on the category your work falls into for pricing (the class code). Put people in the wrong category and you overpay for years. We review your payroll and classifications before you buy.
- Proof of coverage, fast. Need a certificate (proof of coverage) for a general contractor or a landlord before Monday? We turn those around the same business day for most carriers.
- We help lower the score that drives your price. Insurers give you a score based on your past claims that raises or lowers your cost (the experience modification rate). We review it each year, flag errors, and connect you with return-to-work and safety resources that bring it down.
- Real people when a claim happens. When someone gets hurt, we stay involved through the life of the claim, not just at renewal.
Related Wyoming guides
Every Wyoming business is set up a little differently. These companion guides answer the same question for other situations, plus the national explainers behind the terms used here.
- Business insurance in Wyoming (start here)
- Workers comp: the owner's overview
- I own an LLC: do I need workers comp?
- I'm a sole proprietor: do I need workers comp?
- I own a corporation (C-corp or S-corp): do I need it?
- We're a partnership: do we need workers comp?
- We're a nonprofit: do we need workers comp?
- My workers are 1099: do I still need it?
- Only part-time or seasonal staff: do I need it?
- I only employ family: do I need workers comp?
- Remote or out-of-state staff: do I need coverage?
- What happens if I don't carry workers comp?
- How do I get workers comp (even if turned down)?
- What insurance do I need for a contractor license?
- Workers compensation insurance, explained
- What workers comp costs (national guide)
- What workers comp does not cover
- Workers comp vs employers liability
- Wyoming HVAC workers comp
This guide is general information, not legal advice. Wyoming rules and penalty amounts can change, so verify current requirements with Wyoming Department of Workforce Services (DWS), Workers' Compensation Division or a licensed advisor before you rely on them. Last updated: July 2026.