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.