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New Mexico Workers Comp Rates

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Workers Compensation Shop.com » Insurance States » New Mexico » NM Workers Comp Rates

New Mexico Workers Comp Rates

New Mexico workers' compensation rates continue to increase in 2018.

Rates on Workers' Compensation Insurance in New Mexico are slightly higher than the national average, but they are on the rise. In New Mexico, rates have risen 8 percent since 2017. Typically this is due to a lack of competition in the marketplace.

Workers Compensation Shop.com is in a unique position to help employers in New Mexico find better rates on their Workers Comp Policy. We are a an ationwide agency and partner with dozens of providers. Most agencies only partner with a select few. This allows are agents to negotiate better coverage and steeper discounts.

Make sure you are not paying too much for your coverage. Now is the time to make sure you are getting the best value out of your workers comp policy. We have agents standing by to help you get the best value for your businesses workers' compensation coverage. Call today for a no obligation quote at 888-611-7467.
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Questions? Call 888-611-7467 Today for Help With NM Workers Compensation Rates

NM Rates for Select Work Comp Class Codes Workers Compensation Shop.com Icon.

The workers' compensation rates listed below for New Mexico represent the current insurance low rates and high rates we've found effective 1/1/17. New Mexico is an NCCI state and rates are approved by the New Mexico Workers' Compensation Administration. Insurance companies are permitted to offer premium discounts and underwriting credits up to 25% on eligible workers comp policies. We also offer Pay As You Go WC coverage in New Mexico. Not all employers will qualify for the lowest rates available or maximum policy credits.

Class Code

 Low Rate High Rate

0042 Landscaping

 $5.23 $12.03

3632 Machine Shop

 $2.09 $4.81

3724 Garage Door Installation

 $2.90 $6.66

3821 Salvage Yard

 $6.00 $13.80

5022 Masonry

 $6.70 $15.42

5102 Door and Window Installation

 $4.36 $10.03

5183 Plumbing

 $3.33 $7.66

5190 Electrical

 $2.55 $5.85

5221 Concrete Construction

 $3.49 $8.02

5348 Ceramic, Tile, and Stone Work

 $3.38 $7.77

5437 Carpentry/Trim

 $5.42 $12.46

5474 Painting

 $6.36 $14.64

5478 Flooring

 $3.64 $8.37

5537 Heating and Cooling Service and Repair

 $4.36 $10.03

5645 Carpentry Noc Res Construction

 $12.00 $27.61

7228 Short Haul Trucking

 $5.88 $13.52

7605 Burglary and Fire Alarm Systems

 $1.90 $4.38

8006 Gas Station

 $2.02 $4.65

8017 Retail Store

 $1.79 $4.12

8380 Auto Shop

 $2.00 $4.60

8742 Outside Sales

 $0.45 $1.04

8810 Clerical

 $0.24 $0.55

8832 Doctors Office

 $0.39 $0.90

8835 Home Health Care

 $1.82 $4.19

8842 Group Homes- All Employees

 $2.49 $5.73

9012 Building Operations by Owner

 $1.42 $3.37

9014 Janitorial

 $3.09 $7.11

9015 Building Operations by Contractor

 $2.48 $5.70

9052 Hotel Employees

 $1.83 $4.21

9082 Restaurant

 $1.17 $2.69

9083 Restaurant Fast Food

 $1.51 $3.47

9102 Lawn Care

 $2.90 $6.67

9516 Electrical Equipment Service & Repair

 $4.14 $9.52

New Mexico workers comp rates vary significantly by industrial classification codes and insurance company underwriting standards. Employers' who have an Experience Modification Factor (E-Mod) assigned to their business or FEIN may have additional credits or debits applied to their insurance rates based on prior premiums and workers compensation loss experiences. New Mexico Mutual is the State Fund for the state.

Help with Tough Class Codes

At Workers Compensation Shop.com, we use a diverse line-up of more than a dozen insurance partners. This allows us to help employers with hard to place workers' compensation class codes. We are able to shop your policy among many providers and prevent you from paying too much or having to go with the assigned risk provider. Call today at 888-611-7467 to see how our experts can help you with your workers' compensation coverage.

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State Resources for NM

NM Workers' Compensation Administration

2410 Centre Ave SE
PO Box 27198
Albuquerque, NM 87125-7965
800-255-7965
www.workerscomp.state.nm.us/

New Mexico Mutual

3900 Singer Blvd. NE
PO Box 27825
Albuquerque, NM 87109
800-788-8851
http://www.nmmcc.com/

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New Mexico is under the Jurisdiction of the National Council for Compensation Insurance (NCCI) and contracts with Travelers as the state fund carrier.

Our agency can help employers find guaranteed state fund coverage in NM. If we can't find coverage with a private insurance provider we can help buy a state fund policy.

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We're a national leader in Pay As You Go Workers Compensation. We've developed low price programs to help reduce or eliminate down payments and allow employers to report and pay premium based on their actual wages.

We've negotiated the best deals with many of our insurance companies in order to offer more flexible payment options like 12 equal installment plans and monthly reporting to help improve cash flow for business owners.
Workers Compensation Class Codes
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Tough Class Codes Faster Insurance Quotes

We offer an affordable quote for some of the toughest NCCI class codes and higher experience modifiers because we've partnered with national carriers who specialize in high hazard industries.

Our carriers and underwriters understand that we need to turn wc quotes quickly so our customers can buy coverage when they need it. We often turn quotes in less than 24 hours.

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Learn more about workers compensation insurance in New Mexico Work Comp:   New Mexico | NM Programs| NM Rates | NM Forms | NM Info | NM Quotes
Workers Compensation Agents Why do work comp rates differ?

Workers Comp Rates vary by classification codes and by state. They may even differ between areas within a state. Each class code and location is tracked and measured for the overall costs associated with accidents. Rates are determined by this data.

Give one of our New Mexico workers compensation Specialists a call today at 888-611-7467 to see if your business qualifies for lower workers compensation insurance rates.

New Mexico Agency License: 100007804
National Producer Number: 5064979

Contact a New Mexico Workmans Comp Specialist