As any safe driver knows, you must have car insurance in order to legally be allowed to drive. Requirements in different states are not always the same, however. So what are the minimum state requirements for insurance in New Mexico, and what do those requirements cover in the event of personal injury or death?
The New Mexico MVD discusses this in terms of “minimum liability.” Minimum liability refers to the minimum amount of damages your insurance will cover in the event of specific incidents or accidents, usually governed by the number of people hurt or killed in an accident, or the amount of property damaged. For New Mexico, minimum liability is $25,000 for one person injured or killed in an accident, $50,000 for two or more persons injured or killed in an accident and $10,000 for property damage.
This means that in the event that you are in a motor vehicle accident, depending on injuries and outcomes your insurance will cover at the very least these bare minimum amounts. However, that does not mean you cannot purchase additional insurance, either for higher amounts of coverage or to insure against specific incidents and situations, such as damage to the contents of your vehicle during an accident. Additional insurance is not required by New Mexico state law, but it can be useful in the event of an accident that may cause significant financial hardship.
This has been an informational blog post and should not be used as a substitute for qualified legal counsel or advice.