At the state level, workers’ compensation is typically required for any business classified as hazardous, and must be purchased through the monopolistic state system. Commercial auto insurance is also required for any business-owned vehicles. Additional requirements may apply, depending on your industry, location, or contracts. It’s best to confirm what the requirements are with your specific location.

In Wyoming, businesses that employ workers who use potentially hazardous equipment — such as contractors, handymen, lawn care, restaurants, and janitorial services — are typically required to carry workers’ compensation insurance. If your business isn’t considered hazardous, coverage may be optional, but that doesn’t mean you’re risk-free.

A small e-commerce business in Laramie might not be required to carry workers’ comp, but if an employee gets hurt lifting inventory, the business owner could be responsible for medical bills and lost wages. Electing workers’ comp coverage through the state — and having policies like general liability or cyber — can help protect your business from risks the law doesn’t always require.

Even if you win a lawsuit, defending yourself can be costly. A software developer in Cheyenne might be accused of delivering a project late, causing a client to lose business. Or an online retailer in Jackson could face claims that a missed shipment led to a canceled event. Legal fees and time away from work can quickly add up — sometimes costing thousands — even when the claim doesn’t hold up in court.

Comparing quotes and coverages can save you money, but it typically can cost you time. We’ve designed a fast and easy online compare-and-save tool for business owners. No multiple forms to complete. No high-pressure sales calls. See recommendations in minutes and get covered for most policies the same day.

Two ways to lower your premium are opting for lower coverage limits or higher deductibles. Policies that bundle coverages, such as a business owner’s policy, can also save you money over buying separate policies. 

We have more ways to help save on your Wyoming business insurance in this helpful guide.

Our team of licensed agents can answer Wyoming insurance questions, explain coverages, and help you choose what you need. They’re available Monday-Friday, 8 a.m.-8 p.m., ET.

Wyoming Secretary of State – Business Division
Start here to register your business, file annual reports, and access key forms and resources for staying in good standing with the state.

Wyoming Business Council
The state’s economic development agency offers funding programs, community support, and tools to help businesses grow and thrive across Wyoming.

Wyoming Small Business Development Center (SBDC)
Get free, confidential business advising, training, and resources to help you start, manage, and grow your small business anywhere in Wyoming.

IMPACT 307
A statewide network of innovation-driven business incubators that support startups and entrepreneurs with mentoring, resources, and funding connections.

Wyoming Women’s Business Center
Empowering women entrepreneurs with training, microloans, and business counseling to launch and grow successful ventures across the state.