New Mexico Auto Insurance Quotes

Are you searching for New Mexico auto insurance coverage? If so, you've come to the right place. Here, you'll find updated information on New Mexico's auto insurance laws and have access to auto insurance quotes from several carriers that are licensed to do business in New Mexico. Before buying an auto insurance policy, make sure you know New Mexico's requirements for minimum insurance coverage so that you understand what you need to purchase in order to keep your car or truck legal. Then you can get insurance quotes from carriers that are authorized to provide coverage to New Mexico motorists.

New Mexico Liability Coverage Requirements

Like most states, New Mexico requires drivers to carry minimum amounts of liability coverage on any vehicle that is registered in the state.  In order to be in compliance with the state's auto insurance laws, motorists must maintain $25,000 of coverage for bodily injuries for one person in one accident; $50,000 for all bodily injuries in one accident; and $10,000 for property damage in one accident.  Of course, drivers can choose to purchase more coverage than the minimum required by law depending on the value of their vehicles and their individual financial situations.  While some states require motorists to purchase personal injury protection and uninsured motorist coverage, New Mexico does not require this type of coverage on registered vehicles.  Drivers can also establish financial responsibility by leaving $60,000 with the state treasurer's office.  However, most motorists choose to obtain liability insurance coverage because it is more affordable than make a $60,000 cash deposit.

New Mexico Uninsured Motorist Coverage

While uninsured motorist coverage is optional in Mexico, it is a good idea to purchase this type of coverage. New Mexico has the highest rate of uninsured motorists in the United States, with nearly 30% of drivers in New Mexico not carrying the required liability insurance coverage. 

Penalties for Failure to Maintain Coverage

Proof of car insurance must be kept in your vehicle in case you are pulled over or get into an accident.  If you do not have proof of insurance and it is requested by a law enforcement officer, you can bring proof insurance to the police station with you on the same day you are stopped.  If you do not have insurance coverage, you can be charged with a misdemeanor and you will lose your vehicle registration.  The fine for driving without insurance can be $300 or more, and you may have to pay additional fees to have your registration reinstated.