25 / 50 / 15

Personal injury insurance for the driver: $25,000

(maximum benefit paid per claim after the policyholder pays the deductible)

Personal injury coverage for all people involved in an accident: $50,000

Property damage coverage per claim: $15,000

New Mexico Car Insurance Information

New Mexico has some of the highest average car insurance premiums in the country, so make sure you’re not overpaying. The best New Mexico car insurance information is available when you comparison shop on an independent website.

New Mexico Car Insurance Information

New Mexico was annexed by the United States after the Mexican-American war and became the 47th state in the Union in 1912 – exactly 100 years ago. Despite being one of the youngest states, New Mexico is a center of military and atomic research. It’s also a large tourist destination with excellent skiing and shopping in the two largest cities, Santa Fe and Albuquerque.

There are a couple of interesting aspects to insuring your vehicle in New Mexico. It is one of several states with an insurance database that can be accessed by patrol officers during a traffic stop. Car owners can also choose to place a $60,000 bond with the state to cover any damages from an automobile accident instead of buying an auto insurance policy. Drivers are required to have either the bond or some other insurance coverage; otherwise they can get a ticket.

Car Insurance Minimum Requirements

The minimum required liability insurance coverage in New Mexico is 15/30/10. Every driver should be carrying a minimum of $15,000 injury liability coverage per person, $30,000 injury liability per accident and $10,000 in property damage. These are some of the lowest in the country, and a fraction of Alaska’s high requirements. Despite the low limits, New Mexico law says that drivers are personally responsible for any damage beyond their insurance coverage – a good argument for finding quality coverage.

Car Insurance Companies

New Mexico has a number of local, independent insurance agencies, as well as all the national companies. Whether you choose to go with a large, national company or with a smaller, local agency, is a matter of personal preference. Sometimes you can save money with a large company, but companies are as unique as the individuals they insure, so shop around to be sure you’re getting the best deal.

Free Car Insurance Quotes for New Mexico

Getting a free quote from an independent company is an important part of shopping for insurance. Rates from different companies vary widely, and depending on your driving record, zip code, age, gender and numerous other factors. Don’t over-pay for car insurance, and don’t be fooled about getting a reliable quote from the website of a nationwide provider. They all have an incentive to make their policy seem cheaper than it really is. Use an independent website and you’ll get the most accurate and up-to-date New Mexico car insurance information.

Car Insurance Rates

New Mexicans have some of the highest insurance premiums in the country, with the average driver paying $2,283 annually. New Mexico also has a very high proportion of uninsured drivers, with around 26% of drivers – almost 550,000 – without insurance. New Mexicans pay more than twice as much as some other states and almost three times as much as Virginians, who pay only $878 for car insurance –the lowest rate in the nation.