A well-planned business insurance policy can cover your company for losses related to hazards like severe weather, fires, theft, and liability lawsuits. Though business insurance is not required by law in New Mexico, some parts of it may be. If your business is in the construction field or you have at least three employees, you are required to have workers’ compensation insurance. Additionally, if your business owns and operates vehicles, you must carry commercial auto insurance.
Business insurance costs vary significantly from one company to the next. Your quoted rates will be based on factors such as the type of business you have, your expected annual revenues, the value of your commercial assets, the liability risks within your industry, and the number of people you employ. An independent insurance agent can help you customize your commercial coverage so that you are neither left with any unintentional exposures nor paying for coverage you don’t need. Let a local agent help you find suitable coverage at a competitive price.
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Every business is different. That is why commercial insurance providers make it possible for business owners to customize their insurance coverage. An independent insurance agent can explain your various coverage options and advise you about what policies and options are right for your particular business. You can expect a typical business insurance policy in New Mexico to include the following:
Be aware that flood damage is rarely covered by business insurance. If your business is located in a flood zone or is otherwise at risk for damage caused by flash flooding, your independent insurance agent can help you supplement your coverage with a commercial flood insurance policy through the National Flood Insurance Program (NFIP). Talk to your agent to learn more.
There are currently 146 independent insurance agencies in New Mexico that are ready to help you build a comprehensive business insurance portfolio. These agents can save you time and money by helping you find competitively priced coverage that is customized to meet the specific coverage needs of your New Mexico business. Contact an insurance agent near you to get more information and to start comparing commercial insurance quotes from some of these highly rated companies.