Albuquerque New Mexico Commercial Auto Insurance

Find the right commercial vehicle insurance policy for you.

Ann Herro, Insurance Expert Written by Ann Herro
Ann Herro, Insurance Expert
Written by Ann Herro

Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.


Albuquerque, New Mexico is a thriving city in an otherwise desolate area of the country. The city is home to numerous technology companies, as well as many other types of businesses. If you’re among the many local business owners who use company vehicles for deliveries, sales calls, or a variety of other reasons, you will want to be sure to protect your company with the right commercial auto insurance policy. 

A local independent insurance agent can help you find an affordable policy that protects your assets and is compliant with all state and federal regulations. Independent agents aren’t tied down to a single carrier. They can obtain quotes from multiple insurance companies, so you can be sure to find the customized commercial vehicle coverage that properly protects your unique business. 

Why Do I Need Commercial Auto Insurance? 

Commercial auto insurance is important because it protects your business assets if one of your business-owned vehicles is involved in an auto accident. Without insurance, how would you pay to repair a damaged vehicle? And could your business keep up with demand if one of your vehicles was sidelined? Commercial auto insurance helps you recoup costs associated with a damaged and out-of-service commercial auto after an accident or some other unforeseen event. What’s more, it covers you if other drivers involved in a crash sue you. Crashes are common across the state of New Mexico. The following crash statistics underscore the importance of commercial auto insurance. 

New Mexico Crash Statistics

In recent years, there were 45,071 traffic accidents on public roadways in New Mexico. These crashes involved 114,701 people, with 20,494 people injured and 405 people killed. 

  • In recent years, a motor vehicle crash occurred every 12 minutes in New Mexico.

Heavy truck accidents are on the rise and were disproportionately represented in fatal crashes. 

  • A semi/large truck crash occurred every 4 hours.
  • Crashes involving heavy trucks totaled 2,326, their highest level in five years. 
  • Heavy trucks were involved in 5.2% of all crashes, but 10.4% of all fatalities. 

Albuquerque had the highest number of total crashes in New Mexico. 

  • There were 19,133 motor vehicle crashes in Albuquerque in recent years or 34.2 crashes per 1,000 residents. 
business vehicle

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How Much Does Commercial Auto Insurance Cost in Albuquerque, NM?

Commercial auto insurance prices can vary considerably from one company to the next. This is because insurance companies assess risk and calculate rates according to a number of different factors that are unique to your business. Your rates for Albuquerque commercial auto coverage are determined based on the following:

  • The number of vehicles your business needs to insure
  • The types of vehicles you are insuring, as well as each vehicle’s year, make, model and safety features
  • What you will be using the vehicles to transport (e.g., food, hazardous materials, people, etc.)
  • The estimated number of miles your vehicles will be driven each year
  • The driving records of any employees who may be operating the vehicles 
  • Information about the employees who will be driving the vehicles
  • The amount of coverage you are purchasing

Because each insurance company has its own proprietary formula for calculating commercial auto insurance premiums, you can save a lot of money by shopping around for the most competitive price. And comparison shopping is easy when you work with an independent insurance agent who isn’t tied to one carrier.

How Much Commercial Auto Insurance Does My Business Need?

Commercial auto insurance coverage is determined by either state or federal law, depending on: 

  • The type of vehicle 
  • The vehicle’s weight
  • The number of passengers
  • What the vehicle carries (e.g., innocuous goods or hazardous materials)
  • Whether it is engaged in interstate commerce

Most small business owners don’t have to worry about federal regulations for their business-owned sedans, vans, or pickup trucks. In these cases, New Mexico commercial auto insurance requirements are the same as for personal vehicles.

  • Minimum auto liability insurance 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

Passenger carriers, certain freight carriers, trucks over 10,000 pounds, carriers that travel across state lines, and vehicles that carry hazardous substances must follow federal regulations for liability insurance coverage. 

business vehicle

Find Commercial Auto Insurance

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What Does Commercial Auto Insurance Cover?

All commercial vehicle insurance policies in New Mexico will include the specific coverage required by law, at a minimum. Insurance companies also offer several types of optional coverage. You can choose the options that are most necessary for your needs.

  • Collision coverage: Covers damage to your vehicle sustained in a collision, regardless of who was at fault. 
  • Comprehensive coverage: Covers the cost to repair damage to your vehicle due to non-collision events such as fires and property crimes. 
  • Uninsured motorist coverage: Covers your employee’s medical expenses and your vehicle’s damage following an accident caused by an uninsured or underinsured driver. 
  • Towing and roadside assistance: Covers the cost of a service call if your company vehicle becomes disabled while it is out on the road. 
  • Non-owned or hired auto liability insurance: Provides liability coverage for non-owned vehicles being used for business purposes, such as when you rent or lease a vehicle or when you or an employee use a personal vehicle for business purposes. 

You might also want to consider purchasing commercial umbrella insurance. It adds liability coverage that is beyond the limits of your commercial vehicle policy. A local independent insurance agent can help you decide which of these coverage options will benefit your Albuquerque business. 

Why Work with an Independent Insurance Agent? 

Finding the perfect commercial auto insurance policy doesn't have to be difficult or time-consuming. Local independent insurance agents can answer your questions, offer advice, and provide you with multiple customized quotes from reputable insurance companies. 

Contact an agent in or near Albuquerque today.  

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