New Mexico Car Insurance FAQ - Quick Answers

The average cost of car insurance in New Mexico is $1,237 annually, which is less expensive than the national figure of $1,311 per year. When you're looking for the best coverage at an affordable cost, consult with a licensed professional for free.

Every New Mexico car insurance policy will have unique coverages. The most common are listed below.

  • Bodily injury liability: Pays for medical expenses of others.
  • Property damage liability: Pays for property damage of others.
  • Medical payments: Pays for your medical expenses.
  • Uninsured/underinsured motorist: Pays for an accident involving an uninsured/underinsured motorist.
  • Comprehensive coverage: Pays for a collision with an unavoidable object such as an animal.
  • Collision coverage: Pays for a collision with another vehicle, animal, or property.

As a driver in New Mexico, you are required to carry the following minimum limits in order to legally drive.

  • $25,000 in bodily injury liability per person
  • $50,000 in bodily injury liability per accident
  • $10,000 in property damage liability

In New Mexico, 20.8% of the driving population is currently uninsured. That means you're at risk without uninsured motorist coverage that helps pay for your loss if you're involved in an accident with an at-fault uninsured driver.

If you're searching for car insurance in your area, it can be challenging to know what's best. In New Mexico, Progressive, Travelers, Nationwide, and Stillwater insurance companies are highly regarded. These carriers are widely known for their superior customer service and broad coverage selection. 

No. New Mexico is a "fault" state. This means that the person responsible for the accident is the one who pays for the damage and injuries. 

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Find the Best Car Insurance in Your City

How does your city measure up to the national average?

National average time spent commuting 26.9 Min

National average car thefts per 1,000 2.3 Year

National average car insurance cost $1,311 Year

CityCommute time (min)Auto thefts / 1,000Annual insurance cost
Rio Rancho27.71.29$1,315
Santa Fe19.32.63$1,267

Bodily Injury Requirements in New Mexico

Each state comes with a list of requirements if you're planning on operating a motorized vehicle. In New Mexico, you'll have to meet the minimum limits of protection in order to use the roadways.

Your auto policy must have a bodily injury liability limit of at least $25,000 per person and $50,000 per accident. This coverage helps pay for another party's injuries sustained in a car accident where you're at fault.

Property Damage Requirements in New Mexico

Property damage liability is another coverage that the majority of states mandate. It helps pay for property damage you caused resulting from an auto accident.

In New Mexico, you're responsible for carrying a minimum of $10,000 in property damage liability. However, this limit won't cover even half of the cost to replace an average vehicle. For higher limits that protect you efficiently, connect with your local adviser. 

Medical Payments Coverage Requirements in New Mexico

Some states require what's called personal injury protection, or PIP, under an auto policy. This coverage pays for your injuries when you're at fault for your own car accident.

In New Mexico, you will not be required to have PIP, but medical payments coverage can do the same thing and can be added for an extra premium. Although this coverage is optional, it's necessary to avoid any out-of-pocket medical bills.

Uninsured Motorist Coverage in New Mexico

Uninsured motorist coverage will help pay for your expenses after getting into an auto accident with an uninsured driver. In New Mexico, the current percentage of drivers without insurance is 20.8%.

To avoid being at major risk, consider adding uninsured motorist limits to your auto policy for an additional fee. This will ensure you and your loved ones are safe no matter who has proper insurance or not.


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Optional Car Coverage in New Mexico

Every car insurance policy will have optional coverages for you to choose. In addition to collision insurance and comprehensive insurance, which pay for damage to your covered vehicles, there are other coverage limits for added protection.

Some insureds opt for rental car coverage in case they need a replacement vehicle due to a loss. Another commonly used limit is roadside assistance that would help pay for a tow or tire change if needed.

Car Insurance Discounts to Consider in New Mexico

In order to obtain discounts on car insurance, you'll need to know what you qualify for with your carrier. Your New Mexico insurance company will typically give a 30% discount when you have more than one policy with them.

If you belong to an association like a teachers union, attorney group, or government agency, you may be able to save 5% to 10% on auto coverage. Even being a loyal customer to one carrier could save you some premium in the long run. Ask your trusted adviser what discounts may apply to you.

How to File a Car Insurance Claim in New Mexico

When you're involved in an auto accident, there are four steps you'll need to take. Check out these easy steps when reporting a car insurance claim in New Mexico.

First, get out of harms way and have a medical professional tend to any injuries. Next, call your independent insurance agent to file the loss and obtain your claim number. Third, get a replacement vehicle if needed and if your policy allows. Last, connect with your adjuster and go over damage and payment.