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Small Business Insurance in New Mexico

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Insurance cover for small businesses in New Mexico

Frequently Asked Questions

What are the insurance requirements for starting a business in New Mexico?

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.

What limits of Commercial Auto insurance should I carry in New Mexico?

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.

Do I need Workers Compensation in New Mexico for the employees in my farm?

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.

How can I make sure my drivers in New Mexico have Auto Insurance in place?

Before hiring a driver, ask them for evidence of insurance coverage. They should also provide insurance card evidence from the carrier.

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Prefer to speak with a CoverWallet consultant? Call

(646) 844-9933