New Mexico Workers Compensation Insurance-Workmans Compensation

New Mexico Workers Compensation Rules

New Mexico Workers Compensation

1. Does my New Mexico business need to carry workers' compensation insurance?

New Mexico is a private insurance state. Almost all employer's with three or more employees are required to carry workers' compensation insurance through a New Mexico workers' compensation policy or a New Mexico certified self-insurance program.

2. Who can exempt themselves from New Mexico workers compensation Insurance?

Employer's of domestic servants, real estate salespersons and farm and ranch workers are exempt from providing workers' compensation insurance. However, these employers may elect to purchase coverage.

3. Does New Mexico workers compensation law have specific requirements for subcontractors/contractors and sole proprietors?

Employers in the construction field are required to have workers' compensation insurance coverage, regardless of the number of employees.

Non-construction employers with only one or two workers may choose whether or not to obtain coverage.

Employee Leasing and Staffing Companies

Using a PEO or staffing company to obtain your workers compensation may be a good alternative to purchasing your own workers compensation policy. Leasing companies handle your payroll, w-2 forms, unemployment and workers compensation claims. In many cases the down payment required to obtain a new workers compensation policy is high and many new businesses cannot afford the down payment. Another advantage, based on my experience, is that you will never get audited because you pay as you go for your coverage. We represent numerous leasing and staffing companies who in many cases offer deep discounts on your workers compensation coverage that you will not find from standard workers compensation insurance carriers.

USL&H & The Jones Act

We have excellent workers compensation programs for these specialty risks requiring this endorsement. If you are unsure and want to read either the USL&H or Jones Act I have provided helpful links below for you convenience. I have found them to be the most detailed and good resources on the laws.

If you need a quote that requires this coverage

Click Here for a USL&H Quote

Click here for the complete USL&H Act , courtesy of Cornell University.
Click here for: USL&H Web Site - Dept of labor

Read the complete text of the Jones Act here.

New Mexico Workers Compensation

New Mexico Workers Compensation Links

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