Best General Liability Insurance in New Mexico (2025)

Based on cost, financial stability, client satisfaction and the convenience of the online quote system, MoneyGeek identified the top general liability insurance providers in New Mexico. Having achieved high ratings, Thimble was declared the overall winner. This insurance company charges an average monthly premium of $63 for limited liability companies (LLCs) with 20 employees and $22 for one-person businesses with no staff.

Next provides the most affordable general liability insurance in New Mexico for small enterprises that are under budgetary constraints. For LLCs with 20 employees, general liability coverage from Next costs $26 monthly. For entrepreneurs with no employees, it charges $25 monthly.

Thimble offers the best general liability insurance in New Mexico, receiving a MoneyGeek rating of 89 out of 100. Along with their average prices and MoneyGeek ratings, the companies we looked at in New Mexico are ranked in the table below.

The average cost of general liability insurance from Next is $25 per month for sole proprietors and $26 per month for LLCs, which makes it the cheapest option in New Mexico.

MoneyGeek established an affordability rating that factors in monthly costs for both sole proprietors and LLCs to rank providers in this category. As a result, our winner's price for the two types of entities might not be the most affordable.

Nationwide is the best general liability insurance for employers in New Mexico, earning a 95 out of 100 rating from MoneyGeek. It charges an average monthly premium of $36.

The average monthly rate for LLCs with a staff of 20 served as the foundation for how we ranked companies. The number of employees has a big impact on insurance costs. Companies with fewer than 20 employees will probably pay below the average price, while those with more than 20 employees will spend more.

Thimble offers the best general liability insurance in New Mexico for sole proprietors, earning a MoneyGeek rating of 95 out of 100. It costs about $22 a month for a policy.

MoneyGeek evaluated organizations according to average prices for sole proprietors with no workers. General liability insurance may cost more depending on the risk exposure the company has.

General liability insurance is optional for small businesses in New Mexico. All businesses, however, benefit from having an insurance policy since incidents and other unplanned events may occur at any moment. This policy defends your company against the expense of claims from:

• Attorney expenses and lawsuits such as copyright violations and fraudulent marketing.
• Damages to third-party properties, such as computer data and rental property.
• Medical expenses and bodily harm to a client, vendor or bystander.

Be aware that having general liability insurance might be necessary to secure contracts or gain business licenses in some sectors.

If a company has no fewer than three employees, it must acquire workers' compensation insurance in addition to other forms of business insurance. For business-owned cars, companies in New Mexico must obtain commercial auto insurance with at least the following limits:

• $25,000 per person
• $50,000 per accident for bodily injury
• $10,000 for property damage

For LLCs with 20 employees, the average monthly cost of general liability insurance in New Mexico is $52. For sole proprietors with no employees, it is $28.

Keep in mind that these prices apply to an insurance policy with a $0 deductible, a $1 million occurrence limit and an aggregate limit of $2 million. The deductible is the sum that proprietors are responsible for paying before insurance begins to cover expenses. The occurrence limit is the greatest sum that a company will insure for each claim, while the aggregate limit is the highest amount that the insurer can pay out for claims within a policy term.

Depending on the following important variables, general liability insurance premiums differ for each company:

Depending on your particular business needs and other variables, the best general liability insurance for you can vary. To provide you with more useful information, we provided answers to some frequently asked questions.