New Mexico Auto Insurance Policy Requirements

Q: What is in a basic New Mexico auto insurance policy?
A: These primary types of auto insurance coverage can be added to your New Mexico auto insurance policy:

  1. Liability Coverage
    1. The separate insurance concepts of property and people divide liability insurance into two:
      1. Bodily Injury Liability Coverage
      2. Property Damage Liability Coverage
    2. Liability coverage is required in New Mexico. To legally drive in New Mexico, you must have a valid driver’s license in addition to liability coverage in your auto insurance policy:
      1. 25/50/10” (New Mexico’s minimum auto insurance requirement)
      2. $25,000 for one injured or killed person.
      3. $50,000 for more than one injured or killed person.
      4. $10,000 for property damage.
    3. Liability minimums are different for vehicles that are on lease.
  2. Collision Coverage is a state requirement on your auto insurance policy only if your vehicle is still financed. If your vehicle is not financed, then collision coverage is not required for an auto insurance policy in New Mexico.
  3. Comprehensive Coverage is only required if your vehicle is financed. Comprehensive is noncompulsory if the vehicle is not financed.
  4. Medical Payments Coverage is noncompulsory for a New Mexico auto insurance policy.
  5. Uninsured (and Underinsured) Motorist Coverage is also an optional but recommended kind of coverage for auto insurance in New Mexico.
  6. Personal Injury Protection (PIP) Coverage is not a requirement for an auto insurance policy in New Mexico.
  7. Other Options
    1. Towing Coverage
    2. Rental Coverage
    3. Loan/Lease Gap Coverage
Q: Is New Mexico a No-Fault state?
A: No, New Mexico does not support a no-fault insurance system.

Q: How can I get a discount on a New Mexico auto insurance policy?
A: View our list of auto insurance discounts for more information on how to save money on your auto insurance policy in New Mexico.

Q: Where can I find more information about New Mexico auto insurance?
A: Many online resources can further guide you in making an informed decision on purchasing auto insurance in New Mexico:
  1. New Mexico Insurance Resources
    1. The New Mexico Motor Vehicles Division (MVD) provides services that enhance the safety and transportation efficiency of motor vehicle operators.
    2. The New Mexico Insurance Division of the Public Regulation Commission offers an “Auto Premium Comparison Guide” for insurance policy pricing information.
  2. National Insurance Resources

CLICKinsure is proud to serve the state of New Mexico, with its pink deserts and jagged mesas and rich culture of Spanish, Mexican, and American Indian influences. As your broker, CLICKinsure can assist residents in the major cities of Albuquerque, Las Cruces, Santa Fe, Rio Rancho, Roswell, Farmington, and anywhere across this Southwestern State’s cactus- and brush-filled terrain. For any of your auto insurance needs, an agent can help you navigate through the process of choosing a plan with premiums and deductibles that suit your unique needs.