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New Mexico Auto Insurance

In the state of New Mexico you must prove that you are able to be financially responsible in the event that you are ever in an accident before you are allowed to take a care on the road.

There are two ways that you can get the cheapest car insurance in New Mexico:
You an leave the amount of $60,000.00 to the state treasurer in the form of cash or a state surety bond, OR
Buy auto liability insurance, the latter is what most people choose to do.

In the state of New Mexico, you cannot simply buy a small amount of auto insurance, you must have the minimum requirements as set aside by the state, which includes:
$20,000.00 bodily liability insurance or the death of one person.
$50,000.00 per accident for bodily injury or the death of two or more persons.
$10,000.00 per accident for property damage.

There are also many other types of car insurance to pick from, one must look  at all the options available.

New Mexico, unfortunately, has the highest number of uninsured automobiles in the entire US at a staggering 29% it would be wise to pay particular attention to uninsured/under-insured insurance coverage.

It must also be remembered here is that if all you carry is the bare minimum and you have an accident and the costs are $100,000 and you only are carrying $20,000 you will still be liable for the remaining $80,000 and the other driver can take you to court and sue you for the remainder of all damages incurred.

In the unfortunate event that you are not carrying your proof of insurance with you and you are stopped by, say, the police, then you will have to make sure that you bring that proof with you on the day of your court date.  If you are honestly not insured then you can be fined up to $300.00 or more and loose of your vehicle registration, keep this in mind when you sit down to decide if you are going to even get car insurance, better safe than sorry.

The state of New Mexico now uses an Insurance Identification Database (IIDB) and should you let your own insurance lapse, the insurance companies are obligated to inform the state and it will be input into the Database.

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New Mexico Car Insurance

Although Albuquerque, Las Cruces, Santa Fe, Rio Rancho, and Roswell are the biggest cities in New Mexico cheap car insurance rates vary from city to city and rates in Farmington may or may not be different than South Valley. Whether you live in Alamogordo, Clovis, Hobbs or some other city in New Mexico take 5 minutes and get free Car Insurance quotes now. If you are looking for additional ways to save take a look at our resources for finding Cheap Car Insurance in New Mexico.


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