New Mexico Workers Compensation

Most businesses in the United States are required to carry workers compensation insurance. The coverage protects both employees and employers. For businesses in New Mexico, there is plenty to learn and understand about workers compensation insurance and how it applies to your business.

What is Workers Compensation Insurance?

Workers compensation is a type of insurance that pays for the medical and rehabilitation expenses for employees who are injured or become ill as a result of working for a business. Workers compensation also covers lost wages for injured employees who are unable to work while they recover. This insurance allows a business to pay premiums for coverage instead of absorbing the entire cost of an accident that leads to injury or even death for an employee. Having this coverage, whether it’s required or not by law, protects business owners and their business from bankruptcy and financial ruin.

Understanding New Mexico Workers Compensation

Each state has their own specific rules and laws regarding workers compensation. Whether your business is located in New Mexico or you send your employees to work in New Mexico from other states, you need to understand the specific workers compensation rules for the state.

  • Businesses with three or more employees, either part-time or full-time, must carry workers compensation insurance.
  • Real estate agents, domestic servants, and farm/ranch workers are exempt from workers compensation.
  • New Mexico has a private market for insurance meaning you can purchase from any insurer licensed to write policies within the state.
  • A state fund is available for high-risk businesses or those that cannot find coverage on the private market. Rates will be higher through the state fund.
  • Sole proprietors or partners are excluded from workers compensation but can be included if desired. When counting employees to determine coverage, owners must be included.
  • All contractors must be licensed through the Construction Industries Division. If all of your employees are contractors, you must provide workers compensation regardless of the number of employees you have.
  • Businesses must display Workers Compensation Act posters and Notice of Accident Forms where employees can see them.
  • Businesses must provide safety equipment and procedures to their employees.
  • New Mexico does not recognize “stress” claims. Mental impairment claims are held to very strict standards and must be clearly connected to workplace trauma.
  • Businesses located on tribal lands are not exempt from workers compensation. Each tribe handles it different. Some tribes provide workers compensation for their businesses. Others require private businesses on their land to provide their own coverage.
  • The New Mexico Workers Compensation Administration (WCA) does not have enforcement authority on tribal land.

How to Get Workers Compensation Coverage in New Mexico

To find the best workers compensation coverage at the best price, you should work with an independent insurance agent. We have access to multiple providers and can find the best coverage to help protect you, your employees, and your business. The team at America’s Workers Compensation is ready and waiting to help you find your new policy for your business. Request a quote today and let us help you and your company.

Get A Quote Today!

Your Name *

Your Company *

Your Email *

Phone #

State *

# of Employees *

Do you have workers compensation
insurance currently? *
 Yes No