FREE Auto Insurance Comparison

Compare quotes from top car insurance providers and save today!

New Mexico Auto Insurance

Are you searching for cheap New Mexico car insurance? If you are tired of paying too much for your auto insurance coverage or you currently do not have coverage, now is the time to enter your zip code in the field at the top of the page to compare insurance rates from all of the top auto insurers in the state. Shopping for the most affordable auto insurance in NM does not have to be a hassle or a chore. By using the tool above, you no longer have to visit several different websites or call multiple agents to save money with a comprehensive insurance policy.

New Mexico Auto Insurance Requirements and Laws

New Mexico has very strict state mandated auto insurance laws that all drivers must comply with when driving registered vehicles on public roadways. Drivers who do not comply with compulsory financial responsibility laws in the state can face severe penalties that are set by the New Mexico Insurance Division. Here is a breakdown of the penalties for driving without insurance:

  • Suspension of registration and a $300 find for first-time offenders
  • Suspension of driver license
  • Citations
  • Higher fines, reinstatement fees, and jail time for multiple offenses

In New Mexico, liability is the only required coverage. Liability is designed to pay a third-party for medical treatment or for repairs when the policyholder is deemed at-fault for the damages. Liability requirements for auto insurance in NM are as follows:

  • Bodily Injury: $25,000 per person, $50,000 per accident
  • Property Damage: $10,000 per accident

While liability is the only required coverage in the state, drivers do have a choice to purchase higher limits and optional coverages. Optional coverages are as follows:

  • Personal Injury Protection
  • Uninsured Motorist
  • Collision
  • Comprehensive

It is wise to purchase supplemental coverage options to protect yourself while you are on the road. Comparing New Mexico auto insurance quotes will help you compare the rates for each option and different limits as well.

What Will Influence Your Premiums for Auto Insurance in New Mexico?

There are a number of different factors that are beyond your control that influence auto insurance rates. While the average cost of insurance is lower than the national average in the state, premiums can be very high in come cities for the following reasons:

  • The cost of vehicle repairs in the city
  • Fatality rates reported in the city
  • Vehicle theft claims reported in the area
  • The percentage of uninsured drivers in the city
  • Auto insurance fraud

Factors You Can Control

If you want to find cheap car insurance in NM, there are several factors that you can control. Here are some tips on how you can keep your premiums low without lowering your coverage:

  • Drive less and pay less (low annual mileage discount)
  • Attend safe driver training programs for a 3 year discount
  • Purchase home, life, health, or specialty insurance with the same insurer

Get free insurance quotes for your New Mexico car insurance in minutes by using the tool above. As soon as you find a policy, you can bind your insurance and save money on your monthly expenses.