New Mexico has beautiful landscapes and cheap car insurance! It offers a laid back, artistic culture where you’ll find friendly people from all walks of life. The state also has an affordable cost of living and low taxes.
This means that you can easily get cheap car insurance in New Mexico. New Mexico boasts affordable insurance, so if you’re looking for car insurance that fits your needs you have options.
Quick New Mexico Car Insurance Facts
- New Mexico has a minimum liability insurance requirement known as the 25/50/10 rule.
- Approximately 20.8% of New Mexico drivers are uninsured, one of the highest rates in the country.
Land of Enchantment Cruising: Updates & Insurance Insights for New Mexico
Hit the open road and explore New Mexico’s breathtaking landscapes and vibrant cities with these recent key updates for drivers.
New Mexico Vehicle Code Changes:
- Distracted driving crackdown: Effective July 1st, holding a phone while driving becomes completely prohibited, even at stoplights. Hands-free devices remain acceptable. (Source: New Mexico House Bill 8)
- Increased penalties for driving without insurance: Expect harsher fines and potential vehicle impoundment for driving without valid auto insurance. (Source: New Mexico Statutes Section 66-5-304)
- Nontraditional communication or disability registry inclusion: Individuals using nontraditional communication devices or with accessibility needs can register with the state for emergency responders. (Source: New Mexico Statutes Section 66-2-18)
These are just highlights, and other changes may apply. Visit the New Mexico Motor Vehicle Division website for complete information.
Minimum New Mexico Car Insurance Coverage
New Mexico requires minimum liability auto insurance for bodily injury and property damage liability. If you drive in the state, be prepared to carry at least the following auto insurance coverage:
Property damage: $10,000 coverage for a single accident
Bodily injury/death: $25,000 for one person, $50,000 for two or more people
Getting Cheap Car Insurance
Getting cheap car insurance is easier than you might think. Here are several tips to help you find cheap insurance:
- Compare auto insurance quotes. Rates can vary widely from one company to another. Comparing cheap car insurance quotes, can save you time and money.
- Consider your vehicle. Rates vary based on the vehicle you drive. Smaller cars tend to have lower price of vehicle insurance than large SUVs or luxury vehicles.
- Be a safe driver. Avoid accidents and speeding tickets and you’ll save more than a person with a checkered driving history.
New Mexico Auto Insurance Discounts
New Mexico auto insurance discounts are available, why not try to save more money? Do you qualify for these discounts?
Good Driver: Good drivers with no tickets or claims can save 10–30%.
Good Student: Young drivers who attend high school or college and have at least a B average can save as much as 20%.
Use Telematics: If you allow your car insurance provider to install a device in your vehicle to track your driving, you could save as much as 30%.
Bundling: Use the same car insurance providers for vehicles with home insurance or renters insurance and save 10% or more.
Defensive Driving Course: Some of the best car insurance companies will also offer an additional discount if you have completed an accredited defensive driving course.
What is Driving Like in New Mexico?
Some of the roads in New Mexico are in poor condition due to a lack of funding. However, many areas of the state offer the ideal driving. The highways are virtually empty, with a largely unenforced speed limit of 75 mph. Exits are few and far between, making it hard to get lost.
Other Types of Auto Insurance Coverages in New Mexico
Each state offers different types of car insurance coverages. Here are some additional types of coverages you may want to consider if you live in New Mexico:
Uninsured Motorist Coverage (UMC)/Underinsured Motorist Coverage (UIM)
Physical Damage Coverage
Additional kinds of coverage
- Towing and road service: Broke down? This insurance coverage varies but may pay for services such as gas, battery charges, flat tires, and the towing.
- Rental car reimbursement: This coverage will reimburse you for a rental car when you cannot drive your vehicle.
- Gap insurance: This insurance covers the gap between the balance of your auto loan and the true value of your vehicle, which can be significant.
The Impact of New Mexico’s Weather and Terrain on Auto Insurance Rates
New Mexico’s diverse landscape and weather conditions can also affect car insurance rates. Here’s how:
Desert Climate Risks: Extreme heat can lead to vehicle overheating, tire blowouts, and increased wear and tear, which may factor into insurance costs.
Monsoon Season: Heavy rains during the monsoon season (June–September) can cause flash flooding and hazardous driving conditions, increasing the likelihood of accidents.
Mountainous Roads: Rural highways and mountain passes can be winding and treacherous, especially in the winter when snow and ice make driving dangerous.
If you frequently drive in high-risk weather conditions or on challenging terrain, comprehensive coverage may be a wise investment to protect against unexpected damages.
Affects of New Mexico’s Traffic Laws on Insurance Rates
New Mexico’s traffic laws play a role in determining car insurance quotes. The state has implemented strict penalties for violations such as speeding, reckless driving, and driving under the influence (DUI), all of which can affect your rates. For instance, if you’re caught speeding in a construction zone or have multiple speeding tickets, your insurance rates are likely to increase.
Additionally, New Mexico has a unique point system where drivers accumulate points on their driving record for violations, and accumulating too many points can lead to suspension of driving privileges. These infractions not only make you a higher risk to insurers but also increase the likelihood of needing to purchase higher-risk insurance, which can be more expensive.
Being aware of New Mexico’s driving laws and adhering to them can help you maintain a clean driving record, which could lead to discounts and lower insurance quotes. Staying informed about updates to state traffic laws can also help you avoid costly penalties and insurance hikes.
Save on Car Insurance with Telematics and Vehicle Security Systems
Telematics Devices:
- Monitors driving behavior (speed, braking, acceleration).
- Safe driving can lead to discounts.
- In New Mexico, telematics can reduce premiums by reflecting how you drive on various road types.
Vehicle Security Systems:
- Includes anti-theft devices, GPS tracking, and alarms.
- Can lower insurance by reducing theft risk.
- New Mexico drivers with these systems in place may receive discounts for enhanced vehicle protection.
Both options help reduce risk and insurance costs, so check with your insurer to see if you qualify for these discounts.
