Affordable Car Insurance Auto Insurance in New Mexico - Compare Rates

All the drivers of Land of Enchantment, before you hit the road ,you should know what rules does the New Mexico state has when it comes to auto insurance. This will help you to be on the right side of the law.

The State follows a Tort system which means that if you are at - fault in an accident then your insurer will have to pay for the damages.

New Mexico Minimum Liability Requirements

Bodily Injury Liability
This coverage will pay for all the injuries caused to others in an accident in which you are at fault. It will also cover the legal expenses in case a victim decides to sue you.
The minimum limit is $20,000 per person for injury to one person and $50,000 per accident for injury to more than one person.

Property Injury Liability
This will cover any damages that you caused to the property of others involved in the accident. It may include anything from a car or a neighbor's fence or mail box or even an electric pole.
The minimum limit is $10,000 per accident for property damage.

If you don't want to buy auto insurance then the State offers you an alternative. Instead of car insurance policy you can put aside a cash deposit or even keep a surety bond of $60,000. But this won't cover you when you are a victim in an accident.

When you think of insurance as means to buy a total coverage that not only serves the purpose of fulfilling the minimum liability but also provides you a protection then you should go for underinsured/uninsured motorist coverage. It will cover the damages when the at-fault driver has inadequate or no insurance at all. This coverage will also cover you when you are involved in a hit and run accident.

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You can also go for a collision coverage which will pay when your car collides with another car or any other object.

There is also the comprehensive coverage that will pay for anything and everything except the collision. It will include damages due to fire, hail, floods, vandalism, impact of animal etc.

If you are caught without adequate insurance then you may end paying a heavy fine or even risk your driving privileges. So be sure to carry the insurance proof at all times in your vehicle.

Use the internet to obtain quotes from several companies; it will save time for those who enjoy getting their work done faster.

You should always ask for discounts from your insurer. You may be surprised to see it push your insurance rates lower.

If you are a good driver with no tickets and no DUI or DWI conviction, you will be considered a safe driver and it will lower your insurance rates.

If you are a student and can maintain a decent GPA of 3 or more, then you can avail the good students' discount.

Your credit rating will also affect your insurance rates. A good rating can reduce your insurance rate further as it will assure the company of regular future payments.

If you think you can pay a larger amount out your pocket in the event of insurance claim, raising your deductible is a good option.

Hope all this information helps you in getting the best possible insurance deal.

All the best!!

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