Bodily Injury Liability: The state of New Mexico demands that everyone carry $25,000 to cover the doctor’s bills per hurt person with a $50,000 limit per accident for all people in the other vehicle.
Property damage Liability: Property damage liability covers damages to the other party’s vehicle, or other property like roads signs or any other public property. In New Mexico, the minimum property damage liability cover is set at $10,000.
The list numbers for the state of New Mexico would 25/50/10. Each number is in thousands and the same as above respectfully. If you have a newer vehicle it is recommended to carry more than the minimum coverage because of the amount of drivers and uninsured motorists in the state.
Comprehensive and collision cover are recommended for adequate protection for unforeseen accidents such as hail or fallen tree branches. Uninsured motorist protection is a good idea since anywhere from one to two per ten drivers are driving without insurance in the state of New Mexico.
Uninsured motorist protection is going to help cover damages if the other driver does not have adequate or no insurance at all.
New Mexico is bordered by Texas and Arizona and has a higher than national average car theft rate. If you are carrying comprehensive cover than “non-collision” (known as comprehensive too) would be adequate.
If you are comparing insurance quotes or looking to reduce your monthly premium, you want to be sure to talk to the broker/agent about each of the quotes you have and ask about other coverage that may be needed.
Local Agents in New Mexico
Here are a few ideas to lower your car insurance premium if you reside in New Mexico:
- If you use your vehicle for pleasure and not a daily commute your rates are lower
- If you are a student and have good grades you will quality for a student discount
- Anti-theft devices installed on the vehicle will reduce insurance rates
- If you drive less than average you can reduce your premium even more
If you are caught driving without insurance in the state of New Mexico first time offenders can get a $300 fine. If the Department of Motor Vehicles is aware then your license and registration can be suspended too.
Remember the most important part of insurance is driver history. If you have been in any accidents or had major traffic violations you want to be sure to tell your insurance company about it and what you can do to lower your insurance rate.
One suggestion is to take an defensive driver course to offset any “points” you may have on your license. You can click here for an available defensive driver courses from New Mexico’s DMV.