Question 1

How much does workers' comp cost for Aluminum Installation in New Mexico?

Accepted Answer

The current rate for Aluminum Installation (Class Code 5047) in New Mexico is $7.60 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $3800 per year in workers' comp premium.

Question 2

Is workers' comp mandatory in New Mexico?

Accepted Answer

Yes, workers' compensation insurance is mandatory in New Mexico for employers with 3 or more employees.

Question 3

How does New Mexico's rate compare to other states?

Accepted Answer

New Mexico's rate for Aluminum Installation is $7.60, which is $0.67 below the national average of $8.27 (-8%).

Question 4

What does class code 5047 cover?

Accepted Answer

Covers workers installing aluminum siding, trim, gutters, and architectural aluminum components.

State	Rate per $100	Difference
New Mexico (current)	$7.60	—
Indiana	$6.05	-1.55
Texas	$6.36	-1.24
Virginia	$6.43	-1.17
Utah	$6.59	-1.01
Arkansas	$6.82	-0.78

Workers' Comp Rate for Aluminum Installation in New Mexico (Class Code 5047)

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