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New Mexico is home to over 160,000 small businesses, including family-owned farms and tech companies. They make up 99% of all businesses in the state and help boost the economy.
Like any other state, doing business smoothly in New Mexico comes with certain challenges, including employee liability, natural disasters, and workplace accidents. This is where business insurance aids the firms. A coverae provides financial backing to companies, allowing them to function without being sued, and suffer unforeseen financial losses.
Insurance from a trusted provider is essential for New Mexico businesses. This article discusses eight carriers that provide financial assistance with business property insurance claims and help business owners focus on growth instead of risks.
Hiscox
Hiscox is a global insurer. The company was founded back in 1901 and general liability, professional liability, business owners policies (BOP), and even cyber security insurance are some of their products.
It covers more than 180 industries, such as architecture, engineering, health and wellness, consulting, and artisan subcontracting. Hiscox has extensive experience of over 100 years in addressing insurance-related concerns. They have made a name for themselves with their customized policies, fast quotes with instant coverage, and quick turnover of claims.
NEXT Insurance
NEXT Insurance provides affordable coverage plans for small businesses and freelancers. The company offers a variety of insurance products, including general liability, business owners’ policies, workers’ compensation, property insurance, and commercial automobile coverage.
NEXT Insurance caters to over 1,300 different professions, such as construction, retail, consulting, cleaning, and beauty services. They have a streamlined online system that allows users to request quotes, purchase policies, and obtain certificates of insurance, typically with a turnaround time of about 10 minutes.
Additionally, NEXT Insurance utilizes AI and machine learning to enhance efficiency in the purchasing process and pricing. general liability, business owners’ policies, workers’ compensation, property, and commercial automobile coverage.
Tivly
Tivly facilitates New Mexico businesses in getting insurance products that their clients demand. Founded in 2009, the company has been working with 200 carriers to provide general liability, commercial property, business owner’s policies, workers’ compensation, and professional liability insurance, etc to firms operating in the state.
Tivly serves a variety of clients in different sectors, such as construction, retail, and consultancy. While most competitors focus on marketing or sales support, Tivly combines both to provide live customer support, improve professional relations with clients, and gain valuable feedback on policies.
InsuranceBee
InsuranceBee specializes in providing insurance coverage for small businessmen, freelancers, and independent contractors. The products offered include general liability, professional liability (errors and omissions), business owner’s policy (BOP), cyber coverage, workers’ compensation, and management liability coverage.
They cater their services to numerous sectors like artisan contractors, business consultants, caregivers, janitors, landscaping and lawn care, mobile food catering, real estate property management, and insurance and cleaning businesses. They offer easy and affordable plans that can be acquired online and over the phone in a quick manner.
Thimble
Thimble is the go-to insurance company for self-employed freelancers, independent contractors, and small businesses. Providing insurance solutions to New Mexico firms since 2016, the company has expanded its offerings to include general liability, business equipment insurance, business owners policy insurance, commercial property insurance, workers’ compensation, cyber event insurance, and event insurance.
The industries covered by Thimble include construction, landscaping, cleaning, photography, professional services, and even corporate and social event management firms. A striking aspect of this firm is its on-demand coverage where clients can obtain insurance per job on a monthly or yearly basis. The digital tools also offer instant certificates of insurance.
Embroker
Embroker is an insurance company that automates insurance management in various sectors. They provide liability coverage, policies, and cyber insurance, as well as directors’ and officers’ insurance and professional liability insurance.
Startups, tech firms, law, and financial companies, as well as consulting and realtor firms, make up the firm’s clientele. They combine highly developed technologies with professional skills to serve every specific branch of an industry through the Internet.
This streamlines the customary processes associated with coverage so that businesses can effortlessly obtain and maintain insurance policies.
eInsurance
eInsurance connects clients with insurance carriers to assist them in getting custom coverage. Their products include general liability, workers’ compensation, cyber coverage, and other industry-specific financial coverage policies.
The company covers different professions like healthcare and retail. The clients can enjoy eInsurance’s specialized insurance services that help them tackle financial losses caused by unexpected events such as workplace accidents or natural disasters like floods or tornados.
Progressive
Progressive provides a range of commercial coverage policies designed for small and medium-sized businesses. Their product features include general liability, professional liability, business owner’s policies (BOP), workers’ compensation, and commercial auto insurance.
The firm helps various professions, such as construction, retail, and professional services, with their customized policies. With over 50 years of experience, they tap into their financial expertise with a simple online platform to make quote acquisition and managing policies a straightforward process.
Brief Overview of Leading Insurance Firms In New Mexico
The following table outlines how the top eight insurance companies in New Mexico differ in product offerings and selling features.
| Insurance Firm | Services Offered | Unique Selling Points |
| Tivly | General Liability, Commercial Property, BOP, Workers’ Compensation, Professional Liability | Connects businesses with 200+ insurance agents for tailored coverage |
| InsuranceBee | General Liability, Professional Liability, BOP, Cyber Liability, Workers’ Compensation | Quick, affordable insurance solutions with instant online coverage |
| Thimble | General Liability, Professional Liability, Business Equipment Protection, BOP, Workers’ Compensation, Cyber Insurance | Flexible, on-demand policies available by job, month, or year |
| Hiscox | General Liability, BOP, Cyber Security Insurance | Over 100 years of expertise with customized coverage options |
| NEXT Insurance | General Liability, BOP, Workers’ Compensation, Commercial Property, Commercial Auto | AI-driven, fully online process with instant policy issuance |
| Embroker | Business Owners Policies, Cyber Insurance, Directors & Officers Coverage, Professional Liability | Tech-driven insurance and industry-specific coverage plans |
| eInsurance | General Liability, Commercial Property, BOP, Directors & Officers, Workers’ Compensation, Cyber Insurance | Comprehensive marketplace offering tailored business insurance solutions |
| Progressive | General Liability, Professional Liability, BOP, Workers’ Compensation, Commercial Auto Insurance | Strong financial backing with a user-friendly online platform |
Top Cities in New Mexico for Business Insurance
The following New Mexico cities have the necessary infrastructure and economic conditions to offer business insurance services.
- Albuquerque
- Las Cruces
- Santa Fe
- Rio Rancho
- Roswell
- Farmington
- Clovis
- Hobbs
- Alamogordo
- Carlsbad
- Gallup
- Artesia
- Taos
- Los Lunas
- Grants
New Mexico Government Resources for Business Insurance
You can visit these government websites to learn more about business insurance requirements in New Mexico.
- New Mexico Office of Superintendent of Insurance (OSI)
- Small Business Health Insurance Premium Relief Initiative
- New Mexico Taxation and Revenue Department – Insurance Premium Tax Program
- Small Business Administration (SBA) – New Mexico District Office
- Workers’ Compensation Administration
- New Mexico Department of Workforce Solutions
- Risk Management Division – New Mexico General Services Department
Conclusion
New Mexico businesses can avoid unforeseen financial losses by acquiring coverage solutions from a trusted provider. The above-mentioned carriers can provide assistance that keeps businesses on the road to financial growth.
Are you thinking of setting up your business out of New Mexico to other financial hotspots in the United States? Check out our listings or the reputable commercial coverage providers in Alabama and trusted business insurance firms in Maine. Are you looking for investment within New Mexico? Reach out to these top companies who will provide assistance in the matter. Visit Sophisticated Investor for insights on business insurance across the United States.
Brandi is a financial writer and entrepreneur with decades of expertise covering U.S. business and financial topics. Her work has been featured on Consumer Affairs, ASBN Small Business Network, Koho and many other top financial publications.
