Whether traveling through the mountainous areas, the Rio Grande area, the flat farmlands, cattle country, visiting old Sante Fe, or just plain traveling back and forth from work in Albuquerque, the residents need proper New Mexico auto insurance for their many cars, jeeps, and trucks. In 2007, New Mexico auto insurance ($1805) fell below the national average of $1896 by $91.00. However every insured will have different New Mexico auto insurance rates based upon their own individual particulars.
New Mexico Auto Insurance Requirements
The rate for New Mexico auto insurance set at the basic rate is 25/50/10 and covers Bodily injury and damages to the other vehicle, state property, and passengers should the insured be deemed to be at fault.
- Bodily Injury Liability – The insured’s New Mexico auto insurance company will pay out up to $25,000 to cover medical expenses sustained as a result of an accident caused by the insured to one person in the other vehicle.
- If there is more than one injured passenger in the other vehicle, the insurance company will pay out up to $50,000 in total for medical expenses.
- Property Damage Liability – This covers the damages to the other car, or other property such as traffic and road signs.
Like most states, New Mexico does recommend that their insured take out higher levels of liability insurance in order to pay the higher accident costs should they be at fault.
It is also a good idea for motorists in New Mexico to carry Comprehensive and Collision coverage in case their own vehicle was damaged in the accident they had caused, or their car is damaged as result of natural causes such as storms or contact with wildlife.
It is recommended that the New Mexican motorist also carry Uninsured/Underinsured Motorist Protection, in the event that the driver at fault has little or no auto insurance, or if the insured falls victim to a hit and run accident.
