Workers Comp Cost in New Mexico
2026 rates — mandatory for most New Mexico employers
Calculate Your New Mexico Workers Comp Cost
Workers Comp Rates by Industry — New Mexico 2026
| Industry Class | Risk Level | Rate / $100 payroll |
|---|---|---|
| Clerical / Office (8810) | Very Low | $0.20 – $0.45 |
| Retail / Wholesale (8017–8018) | Low | $0.80 – $2.00 |
| Restaurant / Food Service (9082) | Moderate | $1.50 – $3.50 |
| Light Manufacturing (3632) | Moderate | $2.00 – $5.00 |
| Trucking / Delivery (7219–7231) | High | $4.00 – $8.00 |
| Construction / Carpentry (5645) | High | $5.00 – $12.00 |
| Roofing (5551) | Very High | $8.00 – $18.00 |
Rates are advisory/illustrative. Actual New Mexico rates vary by carrier, your specific class codes, and Experience Mod.
Workers Comp in New Mexico — Key Facts
1. New Mexico Requirement & Market
Mandatory: YES — required for employers in New Mexico (check specific employee count thresholds)
Market: Private market (NCCI rates)
New Mexico uses NCCI (National Council on Compensation Insurance) for class code rate guidance. Workers' comp costs in New Mexico are below the national average. Compare multiple carriers for the best rates — differences of 20–40% for the same class code are common.
2. Top Cost Tips for New Mexico
New Mexico employers: (1) verify your class codes are correctly assigned — misclassification is common and can significantly inflate premiums; (2) implement a documented safety program — this qualifies for premium credits with many carriers; (3) pay-as-you-go workers' comp eliminates large audit surprises.
Compare Workers Comp Quotes in New Mexico
Rates vary 20–40% between carriers for identical coverage. Compare before your next renewal.
New Mexico Workers Comp Summary
- →Avg rate: $1.35 per $100 payroll
- →$500K payroll: ~$6,750/yr avg risk
- →Cost vs national: below average
- →Mandatory: Yes