Auto Insurance Services
in New Mexico

Car/Truck  Motorcycle  Boat/Watercraft  ATV  RV

NM Auto Insurance & Why It's Necessary

The most important thing to know and understand as an owner of a vehicle that you and/or others drive is that you are required by law in New Mexico to have motor vehicle insurance. The reason for this is to not only protect you, your passengers, and your vehicle, but also to protect others and their property as well.

How does auto insurance work? When you own a vehicle, one of the first things you need to do is obtain auto insurance. The main reason for getting insurance on your car is to protect you and your property in case of an accident, theft, or an incident that does not involve an accident, for example, falling objects or damages due to weather events. There are several types of coverages that you can get in New Mexico, including liablilty only, comprehensive, and collision. If in the unfortunate event that something does happen to your vehicle, you then file a claim with your insurance company. If your vehicle is covered for the damage, your insurance company will pay to repair or replace your vehicle after your have covered the amount of the dedutible. 

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Considerations that Factor Into Your Vehicle Insurance Rates

In New Mexico, and most other states, insurance companies base your rates on the following:

Age, Gender & Marital Status - Young, single drivers will pay more.

How You Use Your Car - For example, if you use your vehicle to transport large equipment, you can expect a higher rate.

Type and Value of Vehicle - Older and less expensive vehicles are considerably cheaper to insure than newer models.

Where You Live - Those living in high-risk area and those with crime issues are likely to pay more for car insurance.

Your Vehicle's Security Features (if Any) - Lower rates for vehicles that are equipped with built in alarms, or those who park in garages with security are available.

Driving History - Drivers with excessive speeding tickets, and DUI's are certainly going to pay more than drivers with a clear driving record. Additionally, your auto insurance rates can go up in you are involved in an accident, even if it's not your fault.

Your Credit Score - Consumers with good credit generally pay less for auto insurance than someone who has a lower score.

How Much and The Type of Iinsurance You Require - Liability insurance is the most affordable type of insurance, but covers much less. If you opt for collision and comphrensive insurance, the premiums will be considerably more, but you will also be covered for more.

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