New Mexico Commercial Vehicle Insurance

Find the right commercial vehicle insurance policy for you.


New Mexico has one of the largest growing economies in the United States. During the mid-1990s, it was the fastest-growing state in the nation. As people relocate to the Land of Enchantment, they are putting down roots and starting businesses and transporting goods. One of the most basic types of required insurance is commercial auto insurance. This covers all the vehicles owned by the business, along with the employees using them, and their passengers. As you search for quotes on commercial vehicle insurance in New Mexico, there are some things you should keep in mind.

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Do I Need Commercial Auto Insurance for My Business?

  • 350 motorists and passengers were killed in auto accidents in recent years.
  • Drivers were involved in non-driving tasks in 71 percent of CMV crashes.
  • There were more than 4,124 accidents in recent years.
  • There are more than 149,000 small businesses in New Mexico.

Whether your business has one employee or 50, it's a business you're proud of and that you value. If you use vehicles to conduct your business, even your personal business, commercial auto insurance is required by law. If you secured a loan from a bank in order to purchase vehicles, your financial institution will probably require you to carry commercial auto insurance on business-related vehicles in New Mexico.

What Type of Vehicles are Covered?

Here are just a few examples of what commercial auto insurance can cover:

  • Company cars
  • Cargo Vans
  • Limos
  • Taxis
  • Buses
  • SUVs
  • Pickup trucks
  • Delivery vehicles

While these are just a few of the vehicles covered by commercial auto insurance, this policy also covers personal cars that are used for business purposes.

business vehicle

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What Does Commercial Auto Insurance Cover?

Unfortunately, accidents can happen to anyone, anywhere, anytime, and that's why commercial auto insurance is important. There are many types of commercial auto insurance available to help keep your business vehicles covered:

  • Bodily injury liability: This type of coverage covers your liability for bodily injury to third parties that you or one of your drivers causes in an accident. This might include hospital stays, therapies, and medications. It can also cover litigation costs if you're sued.
  • Property damage liability: Property damage is an important policy to consider. While many auto accidents happen on the road, some happen off the road, or end up off the road, colliding with buildings, fencing, or other property. This coverage will make sure the damaged property is repaired or replaced. There are limits on these policies, so for the best protection, consider buying a commercial umbrella liability policy.
  • Collision: Just like your personal auto policy, this will cover your vehicle in case of an accident.
  • Comprehensive: This coverage will make sure your vehicles will be repaired in case anything other than a collision occurs, such as fire, wind, theft, or vandalism.
  • Uninsured and underinsured motorists: If you or your employee is involved in an accident with an uninsured/underinsured motorist, this coverage will make sure that your vehicle is repaired.
  • Medical payments: Medical payment coverage is an important thing to have. If an accident occurs and you or your employees require medical treatment, this will cover the cost.

These are just a few of the options available for business in New Mexico needing commercial auto insurance.

How Should I Evaluate a Commercial Auto Insurance Quote?

When looking for commercial auto insurance quotes, it's important to have information ready to give to agents. Questions that your agent may ask you could include:

  • How many vehicles does the business own? Do they own these vehicles outright, or are payments being made?
  • What type of vehicles? What is their value?
  • What type of work does the business do?
  • Where will the vehicles be going?
  • How many employees will drive the vehicles?
  • What are the ages/experience/driving records of the employees who will be driving the vehicles?
  • Will these vehicles be used for personal use?

Each of these will help insurance agents figure out which type of coverage you need, and get you the proper quote reflecting the most adequate coverage. From there, it's just figuring out how much coverage you want for the risks you face, and what your budget can allow for this insurance.

business vehicle

Find Commercial Auto Insurance

Our independent agents shop around to find you the best coverage.

Getting Commercial Auto Insurance for Your Business

While insurance may seem confusing, our agents are always available to help you get the perfect coverage for your vehicles and your business. They are also available to answer questions, suggest additional coverage options, or even help you when an accident arises. 

Contact a knowledgeable independent agent today to find out how he or she can help your business.

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