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New Mexico minimum auto insurance coverage for car accidents

In New Mexico, automobile drivers are required by law to have at least a minimum amount of automobile insurance. This auto liability insurance is required in order to pay for any liability that arises out of car accidents where the driver who causes the accident is required to pay damages to another party.

New Mexico law currently requires drivers to carry minimum liability insurance in the amount of $25,000 in the event of death or bodily injury to one person in an accident, $50,000 in the event of death or bodily injury to two or more persons in one single accident and $10,000 in the event of destruction of property or having caused injury to the property of others in a single accident.

If a driver does not carry the prescribed minimum liability insurance, he or she is subject to having his or her vehicle registration suspended. Also, the registration of a vehicle may be delayed or denied until this insurance is obtained.

According to the New Mexico Mandatory Financial Responsibility Act, an owner of a vehicle who is uninsured is required to return the license plate, along with the vehicle registration, to the MVD within 10 days after having received the Notice of Suspension of Registration letter.

When the owner of an unregistered vehicle fails to do so even after receiving the notice, he or she will be subject to certain prescribed legal penalties, which could also include criminal penalties. Thus, it is important to follow the law and have the required auto insurance before an unforeseen event occurs. Proactive behavior will generally serve the person very well in all situations.

Source: MVD New Mexico, "Insurance," accessed on Oct. 16, 2014

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