New Mexico – Tips for Saving on Car Insurance


Every state in the untied States of America writes its own code of laws to govern its citizens. Every state has a lot of rules and regulations ensuring safety on the road. One such rule is mandatory auto insurance. Auto insurance is made mandatory to ensure that any motorist driving on the road will be able to pay for any damages he might cause in case he is involved in an accident. This is common in almost all the states of America.

The minimum liability fixed by the state of New Mexico is of the form 25/50/10. This stands for a minimum of twenty five thousand dollars for bodily injury per person in an accident. It also stands for fifty thousand dollars for bodily injury in total per accident. There is also a minimum sum of ten thousand dollars for any property damage that might have been caused. Bodily injury covers any medical costs incurred and even lost wages, if any. Property damage will cover any replacement and repair costs for the car, buildings, fences and lamp posts.

However, this is just the minimum sum. Most of the accidents will cost a lot more than these sums. The insurance industry experts say that the ideal sums would be close to a hundred thousand dollars per person for bodily injury and three hundred thousand dollars in total per accident. These are large sums of money. However, to be safe on the road, you need to have adequate insurance.

Insurance need not be very expensive or unaffordable. Insurance companies give out many discounts. The first method to save money on insurance would be to compare shop. Go to many different vendors and get quotes from everyone. Finding out about the different services being offered is very important. Smart shopping involves choosing only the options needed and not choosing every option that the vendor provides. Choose your insurance with care considering all your other finances and insurance options. Another way to save on insurance is buying insurance together. If you buy health and auto insurance from the same company, they will give you a discount on your premiums. If you have more than one vehicle, you can avail a discount if you get the insurance from the same company for both the vehicles. This is known as the multi-vehicle discount.

There are many companies that also give discounts based on a student’s grades. If you have a student in your house and his grades are good, you will qualify for a discount. This will also serve as an excellent incentive to keep the grades high. If you are ever in an auto accident, you will have to have good health insurance. Buying both at the same place will help you balance the premiums out on both and ensure you get all the benefits of auto and health insurance at low rates. One method to obtain a discount is to drive in a carpool. Many companies offer carpool discounts on insurance and you will also play your part in saving the planet.