Question 1

How much does workers' comp cost for Commercial Drivers in New Mexico?

Accepted Answer

The current rate for Commercial Drivers (Class Code 7380) in New Mexico is $8.33 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $4165 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 Commercial Drivers is $8.33, which is $0.74 below the national average of $9.07 (-8%).

Question 4

What does class code 7380 cover?

Accepted Answer

Covers drivers of commercial vehicles including delivery trucks and freight vehicles.

State	Rate per $100	Difference
New Mexico (current)	$8.33	—
Indiana	$6.63	-1.70
Texas	$6.97	-1.36
Virginia	$7.06	-1.27
Utah	$7.23	-1.10
Arkansas	$7.48	-0.85

Workers' Comp Rate for Commercial Drivers in New Mexico (Class Code 7380)

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