Santa Fe Car Insurance

Your Complete Guide to Santa Fe, NM Car Insurance

Find the right car insurance policy for you.

Santa Fe is the fourth-largest city in New Mexico. This city has a generally dry and warm climate. But occasional snow and heavy rain can exacerbate already crowded roadways, leading to dangerous driving conditions and the possibility of car accidents, even for the safest drivers. If you are involved in a car accident, the financial consequences can be daunting. If you cause an accident, you can expect to pay for all of the damage and injuries for yourself, other drivers, and passengers. Independent insurance agents can assess the unique risks you face as a Santa Fe driver. Our local, friendly agents will work hard to find you an auto insurance policy that meets your needs while staying within your budget. 

New Mexico Car Insurance Requirements

Without car insurance, you are entirely unprotected from the financial consequences of causing a crash. New Mexico law requires all vehicle owners to have a minimum amount of coverage, including:

  • Bodily injury liability: Required
  • Property damage liability: Required
  • Personal injury protection (PIP): Not required
  • Uninsured motorist coverage: Not required
  • Minimum liability limits:25/50/10; coverage up to $50,000 for all persons injured in an accident, subject to a limit of $25,000 for one individual; and $10,000 coverage for property damage

It’s important to understand that the minimum auto liability insurance requirements may not be sufficient in all circumstances. If you cause a major collision, the resulting expenses can be insurmountable. Any expenses that exceed your coverage limits must be paid for out of your pocket. If you are sued for negligence, you’ll have to pay for an attorney and court costs, and you could be required to pay a settlement or judgment to an injured party. With the help of an independent insurance agent, you can assess your risks and determine how much liability coverage is necessary to adequately protect your family.

How Much Does Car Insurance Cost in Santa Fe, NM?

New Mexico has the 28th most expensive average cost of auto insurance in the US. The average cost of coverage in Santa Fe is similar to the state average. 

  • National average annual car insurance cost: $1,311
  • New Mexico average annual car insurance cost: $1,237
  • Santa Fe average annual car insurance cost: $1,267

Auto insurance premiums vary greatly from one person to the next. It’s a good idea to know the factors that influence your Santa Fe car insurance rates. Insurance companies look at:

  • Your age
  • Where you live
  • Your driving history
  • The kind of car you drive
  • The number of cars and drivers in your household

The type of car you drive is one of the biggest factors in the cost of auto insurance. Drivers of expensive sports cars will pay more for car insurance than used minivan drivers. A sports car is likely to be a bigger target for thieves, and it's probably more expensive to repair, too. If you really want to lower your car insurance rates, stick to a modest vehicle that is not likely to be stolen and is cheaper to repair. An independent insurance agent in Santa Fe can help you compare quotes, choose policy options, and maximize your discounts. 

Number of Uninsured Motorists in New Mexico

Not all drivers purchase car insurance. Unfortunately, if an uninsured driver hits you, you have to pay for your own vehicle damage and medical bills. 

  • How many US drivers are uninsured? 12.6%
  • How many New Mexico drivers are uninsured? 20.8%

New Mexico has the 3rd highest percentage of uninsured drivers in the US. That’s why it’s so important to protect yourself with uninsured motorist coverage. It pays for vehicle damage and medical expenses if you cannot collect from an uninsured driver. Uninsured motorist coverage is required in some states. It's not required in New Mexico.

Number of Auto Thefts in Santa Fe, NM

The average auto theft rate in New Mexico is higher than the national average. But in Santa Fe, you are less likely to be a victim of auto theft. 

  • National auto theft rate per 1,000 vehicles: 2.94
  • New Mexico auto theft rate per 1,000 vehicles: 5.64
  • Santa Fe auto theft rate per 1,000 vehicles: 2.84

Anyone can be a victim of auto theft, even if they live in a city like Santa Fe. A Santa Fe car insurance policy with comprehensive coverage can help you replace your stolen car as well as any belongings that were inside it. You should also take precautions to protect yourself from auto theft.

  • Never leave your car key in your vehicle.
  • Keep your vehicle in the garage whenever possible.
  • Never leave valuables in your vehicle, especially where they can be seen.
  • Never leave your vehicle running when you leave it. 
  • Always roll up the windows and lock your car, even at home.
  • Always park in high-traffic, well-lit areas.

Remember to immediately report a stolen vehicle to the police and your insurance agent.

Why Contact an Independent Insurance Agent?

Drivers in Santa Fe can work with a local independent insurance agent to find the right auto insurance. Independent agents can work with multiple insurance companies so you can compare quotes and choose the best policy for your needs and budget. 

Find an agent in or near Santa Fe to learn more. 

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
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