Across the country, the demand for insurance services has increased from state to state. As a result, insurance companies are offering a wide range of services including auto, home, health, and life. Automobile insurance is one of the most necessary services in the industry due to federal and state laws requiring each car owner to have auto insurance. In addition, car accidents and vehicle-related injuries are continuing to rise year after year. With over 231 million licensed drivers in the US. auto insurance has become a basic need for most Americans. Auto insurance provides financial protection against physical damages or injuries resulting from traffic collisions and against liability that could also arise from incidents. In this particular blog, we’ll focus on the auto insurance market in New Mexico. New Mexico creates a huge market for insurance needs, especially auto insurance.
Auto Insurance Plans
If you’re looking for a best auto insurance plan, look no further. Go to newautoinsurance.com and take advantage of your free auto insurance quote online. Depending on your requirements, newautoinsurance.com will get you matched to the right insurance company that will provide you with the new coverage you desire. If you’re looking to purchase a personalized auto insurance plan at the best price, head over to newautoinsurance.com today.
New Mexico Auto Insurance Plans
With New Mexico being the highest populated state in the US, it hosts around 24 million drivers. Unfortunately, more drivers result into more accidents, thus creating a soaring demand for car insurance. New Mexico is also a state with strict motor laws which requires every person that drives to maintain valid auto insurance coverage. In short, without auto insurance, you cannot drive in New Mexico. On top of this requirement, if there’s a lapse in your insurance coverage; you’re liable to pay $100 for the first offense. If a traffic officer stops you and you’re unable to show proof of your insurance, you risk the chance of your car being towed and might have to appear in court to provide proof of insurance.
Minimum Car Insurance Requirements in New Mexico
New Mexico law states that your insurance needs to cover damages and injury costs that you’re responsible for in an accident. Your good to go if you have a standard liability insurance policy. Specifically, the minimum requirements in New Mexico are:
- $25000 for injury/death to one person
- $50000 for injury/death to more than one person
- $10000 for property damages
These three are the minimum requirements that every driver has to meet in order to drive in New Mexico . Without this, you’re not qualified legally to drive in New Mexico.
On the other hand, if you decide not to purchase car insurance, you have several options.
- Deposit $35000 to the department of motor vehicle (dmv).
- Obtain a certificate of self-insurance from the dmv.
Also, your car registration can be suspended if you don’t notify the New Mexico dmv about any insurance change within 45 days. It can also be suspended if you provide false information about your car or any other details.
If you’re looking for auto insurance plans specific to your state, then type in your zip code and get a free insurance quote from newautoinsurance.com. For example, if you want to view insurance plans in New Mexico; you can type in the zip code and get free quotes from major providers as well as local insurance agents.
Noted major cities: Alamogordo, Albuquerque, Anthony, Belen, Carlsbad, Clovis, Deming, Espanola, Farmington, Gallup, Hobbs, Las Cruces, Las Vegas, Los Alamos, Los lunas, Portales, Rio Rancho, Roswell, Santa Fe, Silver city