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New Mexico car insurance

New Mexico Auto Insurance Minimums, Laws and Requirements

Each state requires registered drivers to carry a certain amount of Minimum Liability Coverage auto insurance.

New Mexico mandates all drivers in a household to be covered by liability insurance and have proof of insurance in the vehicle with them at all times. Alternatively, drivers can cover themselves with cash deposit - not less than $60,000 – or a surety bond filed with the New Mexico’s treasurer’s office.

New Mexico has an Insurance Identification Database meant to monitor the insurance status of its registered drivers. Drivers caught without insurance may be charged with a misdemeanor, have their registration suspended, and fines up to $300.

New Mexico Minimum Liability Coverage
Each state sets its own minimum liability amounts. In New Mexico they are as follows:

  • Bodily Injury for One Person: $20,000
  • Bodily Injury for All Injuries: $50,000
  • Property Damage: $10,000

New Mexico Uninsured/Underinsured Motorist Coverage
Some states require drivers to carry Uninsured/Underinsured (UM/UIM) motorist coverage. This protects a driver in case they are involved in an accident and the other person is not adequately covered by an auto insurance policy.

New Mexico does not require this coverage.

No Fault Insurance
In New Mexico, you are not required to carry no-fault insurance. New Mexico is a Tort state meaning that the driver at fault must pay a victim’s medical expenses. Further, the victim can also pursue compensation for additional lost wages as well as pain and suffering.