Question 1

How much does workers' comp cost for Marine Transportation in New Mexico?

Accepted Answer

The current rate for Marine Transportation (Class Code 7327) in New Mexico is $12.25 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $6125 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 Marine Transportation is $12.25, which is $1.09 below the national average of $13.34 (-8%).

Question 4

What does class code 7327 cover?

Accepted Answer

Covers workers operating marine vessels for passenger and cargo transportation on waterways.

State	Rate per $100	Difference
New Mexico (current)	$12.25	—
Indiana	$9.75	-2.50
Texas	$10.25	-2.00
Virginia	$10.38	-1.87
Utah	$10.63	-1.62
Arkansas	$11.00	-1.25

Workers' Comp Rate for Marine Transportation in New Mexico (Class Code 7327)

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