| Are you looking for auto insurance in New Mexico? There are a few
things you should know before you go out and purchase your auto
insurance. If you are found at fault for an accident in New Mexico and
you have no auto insurance, you will be facing some intimidating laws.
You will receive a ticket of up to $300, be charged with a misdemeanor,
and you may have your vehicle registration suspended. In order to avoid
these charges, do the smart thing and purchase auto insurance.
In New Mexico, the minimum coverage is $25,000 per person with $50,000
for a single accident and $10,000 for any property damage. Most
insurance companies will advise you to carry coverage higher than the
state minimums. New Mexico offers an alternative to auto insurance.
Drivers have the option of putting $60,000 cash deposit with the state
treasurer’s office for financial liability. In 2001, New Mexico started
the New Mexico Insurance Identification Database. The IIDB observes the
insurance position of all registered drivers. Due to the IIDB, it would
be wise to make sure you are driving with auto insurance.
It is illegal to drive any vehicle without insurance in New Mexico,
even rental cars. Most auto insurance policies in New Mexico contain
car rentals. If your policy or your credit card does not cover rental
cars, you will have to purchase insurance from the rental car company.
The insurance usually costs about $14 per day.
Since New Mexico follows a Tort System, someone has to be found at
fault in every accident. The individual found to be at fault is
responsible for all the damages. For this reason, it may be wise to
purchase more than the state minimum for auto insurance. It may save
you a lot of money in the long run.
In 2006, New Mexico had the 29th most expensive auto insurance in the
nation. The resident’s in New Mexico paid an average insurance premium
of $737.
New Mexico is serious when it comes to auto insurance. It is best to
shop with us to find an affordable policy. Driving with no auto
insurance will cost you. |