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Tonya Sisler has a Bachelor’s Degree from the University of South Carolina in Journalism and has worked for 15+ years in management. She has also completed a proofreading certification and is currently...

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Brad Larson has been in the insurance industry for more than a dozen years. He started out as a claims adjuster for a national carrier. He has since switched to the agency side of the business...

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Reviewed byBrad Larsen
Licensed Auto Insurance Agent

UPDATED: Mar 13, 2020

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New Mexico car insurance laws require all drivers to carry liability auto insurance and average car insurance premiums are in the top 25% of America so car insurance comparison is crucial to finding the best policy for your unique profile.

What is Liability Insurance?

Liability insurance is coverage to pay for damage of other peoples property and/ injuries by accidents where you declared at-fault. What many people do not realize about liability insurance is that it provides no protection for damages to the insured. While New Mexico has higher than average mandatory car insurance requirements every driver should consider purchasing expended levels of coverage along with some form of insurance for their own vehicle. Comprehensive, collision and GAP insurance are the three most popular types of auto insurance which many drivers also obtain.

New Mexico Car Insurance Laws

All vehicles registered in New Mexico are required to have liability insurance. Current laws (2010) require an automobile insurance policy with minimum levels of liability insurance as follows:

  • $25,000 bodily injury liability per accident (single victim)
  • $50,000 combined liability insurance per accident (all damaged persons)
  • $10,000 of property damage liability

Car insurance laws are administered by the New Mexico DMV (known as the Division of Insurance in New Mexico) and they routinely advertise these minimum requirements as 25/50/10 which correspond to the amounts of coverage above.

New Mexico Car Insurance Companies

Car insurance companies licensed in New Mexico total around 100 so drivers a wealth of auto insurers to choose from however finding the best car insurance rates will take a combination of knowledge and comparison shopping. Many of the national brands such as Progressive, Geico, Allstate and State Farm offer auto insurance in New Mexico but there are also many regional providers who also offer very affordable coverage. Most New Mexico drivers opt for a car insurance comparisons search online to find the best car insurance rates. Some of the things you should always consider when comparing New Mexico car insurance companies are

  • Types of Coverage
  • Policy Limits
  • Policy Exclusions
  • Eligible Discounts
  • Company Reputation
  • Claims Handling
  • Customer Service Hours

Many variables go into choosing a car insurance company so try not to fall for funny advertisements or promises of cheap car insurance. Many times cheap car insurance quotes often come with reduced coverage and car insurance is most important when you need to file a claim. Try to find a balance between affordable premiums and company strength.

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