Small business insurance in New Mexico
out of 5 customer review rating and 200,000+ policies sold
New Mexico business insurance policies
Many companies trust biBerk for business insurance in New Mexico, and for good reason. We offer flexible policies and exceptional service to protect you from the many types of risk New Mexico businesses face.
New Mexico Workers' Compensation insurance
This New Mexico insurance coverage helps protect your business if an employee gets hurt, becomes sick, or dies as a result of an incident on the job. If an injury or death occurs, this policy can cover medical costs, legal fees, lost wages, or a death benefit. We offer tailored workers’ comp insurance in New Mexico to suit your business needs.
Workers' Compensationchevron_rightNew Mexico Professional Liability insurance
Also called errors and omissions (E&O) insurance, this type of liability insurance in New Mexico could protect you from the cost of damages and legal fees if someone claims your professional service hurt them or their business financially—like if you’re an accountant and you don’t complete a tax return on time. Coverage includes both mistakes on the part of your business (errors) and the failure to perform a service (omissions). Professional liability insurance is popular with New Mexico businesses that offer professional advice or services or that have contractual requirements for the coverage.
Professional Liabilitychevron_rightNew Mexico Cyber insurance
You can buy this type of business insurance in New Mexico as an add-on to a professional liability policy. It helps cover costs related to system hacks or data security breaches where someone steals sensitive information like customer credit card data and uses it to commit fraud or is likely to.
Cyber Insurancechevron_rightWe cover all kinds of professionals and businesses in New Mexico, including:
- Advertising and marketing agencies
- Appraisers
- Attorneys and law firms
- Auto service and repair centers
- Beauty salons
- Bookkeepers and accountants
- Building services companies
- Business consultants
- Ceramic tile installers
- Clothing and sporting goods stores
- Computer programmers
- Contractors
- Convalescent and nursing homes
- Delivery and courier services
- Dentists
- Doctor offices
- Electrical contractors
- Fruit and vegetable markets
- Gyms and fitness centers
- Household appliance repair
- HVAC companies
- Insulation services
- Insurance companies
- Janitorial services
- Landscaping companies
- Laundry services
- Mortgage brokers
- Painting companies
- Plumbing services
- Public relations agencies
- Real estate agents and operators
- Recreation services
- Restaurants
- Sales professionals
- Skilled carpentry services
- Truck drivers
- Videographers and photographers
Why biBerk for small business insurance in New Mexico?
When it comes to business insurance in Albuquerque and throughout New Mexico, we’re the experts.
Save time.
Get a quote entirely online or speak with one of our insurance experts right away for help getting a quote, buying a policy, or answering any questions you may have.
Save money.
We insure your small business directly, without a middleman or insurance broker, so we pass that savings on to you—up to 20% less than policies with other insurance companies.
Experienced.
We're part of Warren Buffett's Berkshire Hathaway Insurance Group with millions of satisfied customers, more than 75 years of insurance experience, and $52.2 billion in paid claims in 2023.
Why choose biBerk for your small business insurance in New Mexico?
Whether it’s workers’ comp in New Mexico or other small business insurance, we’re often much less expensive and easier to do business with than other insurance companies.
Who turns to biBerk for NM business insurance?
Whether they need workers’ comp, cyber, or professional liability insurance in New Mexico, companies rely on our experience and reputation for affordable coverage and exceptional service. We work with business owners and decision-makers of all kinds in the state.
Established small business owners
People who’ve been in business for a while understand that insurance isn’t so much an expense as it is a valuable asset that protects their company’s core assets and helps ensure business continuity when the unexpected happens. They know that the long-term stability of their businesses requires financial protection, and we’re their choice for liability insurance in New Mexico because we understand their challenges and have products to address them.
Businesses focused on risk mitigation
One of the key elements of business success is mitigating risks. New Mexico companies turn to biBerk to help them manage what you’ll sometimes hear referred to as their “exposures.” That’s especially true as they grow and evolve. Hiring staff, offering new professional services, and other changes require updated insurance strategies, and buying or modifying biBerk policies is easy.
Entrepreneurs
People starting a company look to biBerk for assistance with coverages to protect their companies. Whether they need business insurance in Albuquerque, Santa Fe, Taos, or anywhere in the state, they understand that our policies can help them minimize financial losses when incidents occur. They also appreciate that the coverages we offer address compliance issues, like the requirement for nearly all businesses to have workers’ compensation insurance. We help them build a solid foundation for their new companies.
What small business insurance in New Mexico is required?
Workers' Compensation
In New Mexico, other than the construction industry, every business with three or more workers (including business owners) must have coverage. For the construction industry, every business—even those with no employees—must carry workers' compensation insurance. This includes owners/officers, part-time, temporary, and seasonal workers, and also family members. You can receive substantial fines and criminal penalties in New Mexico if you’re required to have a workers’ comp policy and get caught without one.
Other policy considerations
Even if your customers, clients, or partners don’t require you to carry specific policies, it’s recommended that you carry policies to cover any part of your business that could be at risk. Financially protecting your company is one of the smartest business decisions you can make.
What does small business insurance in New Mexico cost?
The cost of small business insurance in New Mexico depends on a number of factors, including industry, number of employees, and the amounts of payroll and revenue. Your claims history will also influence your policy cost. Companies with fewer claims typically pay lower premiums. We’re happy to provide fast online quotes including subcontractor insurance quotes. Learn what you’ll pay for small business insurance in New Mexico by getting instant, online quotes for any policies you need.
Frequently asked questions about New Mexico business insurance
-
What types of insurance are typically required for small businesses in New Mexico?
keyboard_arrow_down
New Mexico companies with three or more employees (and all construction companies) have to carry workers' compensation insurance. Other coverages might not be mandatory, but you should consider them to ensure your business is fully protected.
-
How much does small business insurance typically cost in New Mexico?
keyboard_arrow_down
The cost of small business insurance varies based on factors like business size, coverage needs, and industry risks. You can get instant online quotes from biBerk.
-
Are there any industry-specific business insurance requirements in New Mexico?
keyboard_arrow_down
Certain industries in New Mexico may have additional insurance requirements. For example, businesses in some sectors might need professional liability insurance.
-
How do I determine the right coverage amounts for my small business in New Mexico?
keyboard_arrow_down
Consider factors like your business type, location, and potential risks. Our licensed insurance experts can help you tailor coverage amounts to your specific situation.
-
What is the typical process for filing an insurance claim in New Mexico?
keyboard_arrow_down
File a claim by contacting us, providing details about the event, and submitting any supporting documents. That gets the process started, and we’ll guide you from there.
-
How quickly can I expect my insurance claims to be processed and resolved in New Mexico?
keyboard_arrow_down
The processing time for claims varies, but straightforward ones can typically be resolved in a matter of weeks. Complex claims might take longer. Either way, you can count on biBerk to work efficiently to resolve your claims.
New Mexico small business insurance in three simple steps
Get a quote.
Fill out a form online or give us a call to tell us about your company. You’ll have a quote in as little as five minutes.
Buy a policy.
Complete your purchase and make payments online or over the phone. You can pay your premium all at once or in monthly installments.
Get a certificate.
Download an instant Certificate of Liability Insurance immediately after purchasing a policy.
Get a quote today.
Trust biBerk for business insurance in New Mexico and save up to 20%.