Starting a business in New Mexico opens the door to risks. You need insurance designed for your industry and business size. We customize plans for more than 20 industries. Pick coverage below to start a quote today.
Essential coverage for your New Mexico business
When you also have at least one employee
* Plus Workers Compensation
All standard plan benefits and:
Whether you’re looking to satisfy New Mexico requirements with workers comp and disability insurance or know insurance is the only way to protect your finances, we’ve got you covered.
General Liability insurance covers the cost arising from claims due to property damage or worker's injury during the course of the business. Without it, debts from legal claims can potentially risk your entire business.
Commercial Property insurance is one of the most important investments to ensure the future of your business. Depending on the terms, this insurance covers theft, natural disaster, accidents and incidents that are within the bounds of the insurance.
In nearly all cases, if an employee gets injured in New Mexico, they won't be able to bring a lawsuit against you. This is because the New Mexico and all other states mandate Workers' Compensation. The employee will be compensated for medical care and lost wages from the injury or illness that arise during the scope of his or her employment
Commercial Auto insurance is similar to a personal auto insurance in such that it covers liability, collision, comprehensive, medical payments and uninsured motorist coverage. The difference is that it covers commercial vehicles like food trucks and specialized vehicles and has more coverage than a personal auto.
There will be times where you host or organize a special event for your business. Special Events insurance will cover the various types of issues arising throughout the course of a special event. This covers anything that can go wrong with the services and equipment arising from the event.
Business owners are at risk on a lot of liability. Protect your business with a Business Owners Policy. The insurance puts together several policies to help small and mid-sized businesses have one convenient policy to protect themselves. It simplifies the coverage by providing two policies in one - property and liability.
New Mexico mandates that you carry Workers' Compensation if you have employees and a Commercial Auto Insurance if you use vehicles for your business. General Liability insurance plans are required based on the size of your business and the industry you work in.
New Mexico businesses requires $25,000 for bodily injury, $10,000 for property damage, and $50,000 to $100,000 for the death of one or more people. You'll also need a Commercial Auto policy for the coverage.
New Mexico requires you to carry a Workers' Compensation if you have three or more employees. This is true even if they are farm workers; however, it is not a requirement if you employ independent contractors or domestic workers.
Before hiring a driver, ask them for evidence of insurance coverage. They should also provide insurance card evidence from the carrier.
CoverWallet utilizes state of the art technology to help small businesses understand and buy customized coverage, get significant savings and conveniently manage their insurance, in a matter of minutes, all through our online platform.
You wanted better protection and cheaper pricing. So did we. We baked that dream into everything we've set out to accomplish in building our award winning platform.
We have one! How much could we have really improved the insurance purchase process? Try us! We ask only the questions you need to answer, nothing more.
We've built all our fancy tech from scratch, which allows us to get you certificates on demand, free of charge, and for us to find you savings.
Being a small business presents several challenges that may need more assistance. While CoverWallet provides you the best insurance, you can also consider these references to further support your small business:
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