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New Mexico Car Insurance Guide

Shopping for car insurance in New Mexico is time-consuming and stressful. At we put together this guide that lists pertinent information you need to know about buying car insurance in New Mexico so that you can easily get the plan that fits your personal needs - at the lowest rate.

Do you already have all the information you need about New Mexico car insurance? Do you just want a quick quote? Enter your zip code above and get started.


Minimum Requirements

In New Mexico, you are required to have car insurance to drive. The minimum required car insurance will protect you if you are in an accident and found to be at fault. Here is a list of the coverages and the limits:

Bodily Injury Liability Coverage $25,000 per person and $50,000 per accident.
Property Damage Liability Coverage

$10,000 per accident. 


Do I Need More Than the Minimum Coverage?

Yes, you should purchase more coverage than the minimum. The required property damage in New Mexico is $10,000. That will not cover the damages in an accident with a newer vehicle more than likely and you will be left to pay out-of-pocket for the rest of the damages. Adding higher limits and additional coverages will provide better protection and less out-of-pocket expenses. 


Additional Coverages Available

We provided a list of additional coverages with an explanation of how they can add protection to your policy:

  • Collision Coverage- Collision insurance will cover repairs to your vehicle in an accident you are at fault for. 

  • Comprehensive Coverage- Comprehensive insurance covers you for other situations than a car accident; if you hit an animal, vandalism, fire, hail, flooding, or of your car is stolen. 

  • Uninsured/Underinsured Motorists- Optional coverage that protects you if you are involved in an accident with a driver who has no insurance or too little insurance to cover the accident. 

  • Medical Coverage- Optional coverage that will pay for medical bills when health insurance exceeds coverage amounts and covers medical expenses for you and your passengers. Do you walk or bike? This policy offers additional coverage if you are struck by a car in those instances. 

  • Gap Insurance- Optional coverage that will pay if you don’t own your car outright and have an accident. Gap insurance will pay the difference between the cash value of your car and the current balance on your loan or lease. This policy is best for newer non-owned cars.

  • Personal Injury Protection- Depending on your state this type of insurance can be a requirement or an add on. Regardless of fault personal injury protection will cover medical expenses and loss of wages for you and your passengers (up to your limit). It also includes up to $5,000 for funeral expenses.


Teen Drivers in New Mexico

New Mexico uses a graduated licensing system for new teen drivers. To start the program you must be 15 and apply for your learners permit. Which means it is time to start shopping for car insurance. Brace yourself, insuring a teen driver is expensive, even with the discounts available. Adding a teen to your existing policy is normally the cheapest option, but it will still drastically increase your premiums.


Multiple Drivers in New Mexico 

If you have multiple drivers in your house it is important to disclose this information to your car insurance company. This will ensure you have an accurate policy and you will not have any surprises arise. 

If you do not want to add any drivers in your home to your policy you can exclude them by letting your insurance company know. By excluding a driver your insurance company will not cover them. So it is smart not to let the excluded driver use your vehicle because you will be responsible for damages. 


Penalties for Driving Without Car Insurance 

There are penalties in place for operating a vehicle without proper car insurance in New Mexico. It is always easiest to comply with the law to avoid penalties and imprisonment. Here is a list of penalties:

  • You will have to pay a fine of no more than $300. Potentially you could spend up to 90 days in jail in place of the fine or you could pay a fine and spend time in jail. Your driving privilege will be revoked at the scene of an accident. 

  • If you fail to surrender your license and registration you will incur a $1000 fine, you could spend up to six months in jail, or be required to pay the fine and spend time in jail.  Your registration will be suspended for a specified amount of time.

  • You will be responsible for paying a $55 reinstatement fee.


Car Insurance Savings in New Mexico

We recommend contacting your insurance company and ask for a complete list of savings. This will help you make an educated decision about the savings you meet the criteria for. Here is a short list of common discounts in New Mexico: 

  • Good Driver- Maintain a good driving record free of accidents, tickets, and any moving violations. 

  • Multiple Policy- Most insurance companies will offer a discount for having multiple policies such as car insurance, renters insurance, homeowners insurance, or motorcycle insurance. 

  • Good Student- If you are a student enrolled in high school or college curriculum and maintaining a B average most companies offer a discount.


Get a Quote for New Mexico Car Insurance Today 

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