New Mexico Auto Insurance


The state of New Mexico requires that motorists maintain the minimum of liability coverage in order to register and operate a vehicle. Consumers should obtain auto insurance quotes from various companies and compare them in order to find savings.state of New Mexico

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Finding Cheap Car Insurance in New Mexico

Completing a NM auto insurance comparison is one of the most effective ways of saving on coverage. Considering that there are many carriers out there to choose from, comparing rates from multiple insurers is an efficient way to find the one that can offer the most affordable policy.

When looking to save and compare rates, be sure to consider the various factors that can affect the prices of premiums. There are several options that are available when choosing policies. If in need of "full coverage", also know as comprehensive and collision when combined with liability, choose a deductible wisely. A higher deductible can lower a premium, but keep in mind that this is what must be paid by the policyholder at the time of filing a claim. If insuring an older automobile, a full coverage may not be beneficial; the cost of the premium and deductible may add up to more than the vehicle's market value if it were to be damaged, therefore one can save on their premiums by eliminating this option on their policies.

Be sure to ask about and take advantage of any discounts available. Many insurers offer a discount to drivers with a good driving history. With this in mind one should always practice safe driving and obey traffic laws. A reduction in rates may also be offered to good students, those who have completed a safety driving course, vehicles equipped with safety features and/or anti-theft devices and motorists who drive a low number of miles annually. Discounts are one of the great ways to lower auto insurance costs and save a significant amount of money.

New Mexico Auto Insurance Law

In order to operate a vehicle in NM, a motorist must carry the following limits of liability:
  • $25,000 for bodily injury or death of one person
  • $50,000 for bodily injury or death of two or more persons
  • $10,000 for property damage in any one accident
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Keep in mind that the coverage required by the New Mexico car insurance laws do not cover the insured so it may be in one's best interest to consider and compare the prices of policies that include more extensive coverage. Some common additions to a policy are Comprehensive and Collision, Uninsured Motorist and Medical Payments. After comparing one may be pleasantly surprised to find that they can afford to obtain more protection.



Questions on NM Coverage Topics

  • Do I Still Need NM Auto Insurance While Out of State?

    Great Seal of the State of New MexicoIf motorists are temporarily out of state for school, work, or other reasons and plan to drive a car registered in New Mexico, they are required to either maintain coverage bought in NM or file an affidavit showing that they have secured out-of-state coverage. If they are out of...

  • What is the New Mexico Insurance Identification Database?

    New Mexico state flagThe New Mexico Mandatory Financial Responsibility Act makes it illegal to drive in the Land of Enchantment without first purchasing vehicle coverage that meets the state's minimum requirements. The NM Insurance Identification Database (IIDB) was created to assist in keeping track of...

  • What Can Happen If I Drive in New Mexico Without Car Insurance?

    New Mexico state flagAll motorists within New Mexico who want to legally operate an automobile must first purchase a coverage plan that satisfies the state’s financial responsibility requirements. A driver who fails to do so may be subject to not only expensive medical or property damages after an accident but also various legal consequences. In the event that...

News for New Mexico Insurance

  • LoJack's New Mexico Expansion Could Mean Cheaper Premiums

    August 06, 2013 - LoJack's stolen vehicle recovery system will be expanding into New Mexico in December at the request of public safety officials there, the car security company announced this week. The company said that its Stolen Vehicle Recovery Network, which locates LoJack-equipped vehicles through a radio transmitter activated at the ...

  • New Mexico Officials Issue Advisory on Auto Insurance Call Scam

    Feb 15, 2013 - New Mexico's Motor Vehicle Division (MVD) says that residents are getting bogus telephone calls from what appears to be an auto coverage scam seeking to swipe personal information. In an advisory issued last week, officials said that telemarketers phone state residents and claim to be from "The Auto Insurance Center" ...

  • Snapshot Discount Program Extended to Three New States

    August 29, 2011 - Drivers in Alabama, North Dakota and New Mexico are now able to enroll in a program from Progressive that provides access to discounts for policyholders who put in fewer miles behind the wheel and display safe driving habits. With the addition of these new states, the program is ...

Articles Regarding New Mexico Auto Insurance

  • New Mexico Auto Insurance Payment Methods

    Jan 06, 2012 - In New Mexico, motorists are expected to maintain a minimum amount of liability insurance while behind-the-wheel. Although driving while uninsured is not an option for many residents, motorists still have the ability to...

  • Proof of New Mexico Car Insurance

    Nov 28, 2011 - Registering a car in New Mexico requires residents to first purchase an auto insurance policy that includes an adequate amount of liability coverage. Only after meeting the state financial responsibility requirements can a resident legally...

  • Companies Selling New Mexico Auto Insurance

    Sep 28, 2011 - Driving in New Mexico without first meeting the state's financial responsibility requirements can result in a motorist losing their vehicle registration or driver's license. Although residents have the...

New Mexico Car Insurance Resources