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The average new mexico auto insurance premium is $912 in 2003; the national average was at $914. Since most people think new mexico auto insurance rates are fixed by state and new mexico car insurance companies, they never shop around for better new mexico car insurance rates. Our site helps you find the cheapest new mexico automobile insurance rates and discounted prices available in New Mexico, so average New Mexicans can get a better-than-average low new mexico auto insurance rate.
New Mexico auto insurance law has an interesting feature - although Mexico demands that people driving in Mexico carry liability insurance provided by a Mexican auto insurance carrier, most New Mexican carriers will cover drivers who are driving only 25-50 miles into the Mexico. However, new mexico auto insurance bureau advises all motorists that if they do have an accident while driving in Mexico and do not carry Mexican car insurance, they will certainly spend hours, if not days, in
a Mexican prison until the matter is straightened out, as well as facing a very
severe fine.
The State requires that Uninsured Motorist coverage be included in a new mexico auto insurance policy; if the driver decides s/he does not want that coverage, s/he must reject in writing at the time of purchase. The standard new mexico auto insurance deductible for such coverage is $250. New Mexico auto insurance rates are calculated on the basis of the age and sex of the
driver; young males (under 25), who represent only 15% of the driving population, account for 29% of accidents and 26% of all fatal accidents. As a result, they pay the highest possible new mexico auto insurance rate. Other factors affecting the cost of new mexico auto insurance include the make and model of the car, where the car is driven, and whether the driver is married or single.
The State of New Mexico requires a minimum "25/50/10" auto insurance coverage, i.e., a driver's car insurance should provide, at a minimum $25,000 in injury liability coverage for one person in an accident, $50,000 for all injuries in an accident, and $10,000 for all property damage in an accident.
New Mexico car insurance rates change over the years, if you are not careful you could end up paying too much for your new mexico auto insurance premium. Looking back, the average new mexico auto insurance premium in 2000 was about $826, an increase of about 10.41% in just 3 years!
New Mexico does not require that drivers carry the following: bodily injury
for uninsured motorists, collision, comprehensive, or medical payment insurance. If, however, a driver opts to carry bodily injury for uninsured motorist coverage, New Mexico requires the coverage to be $25,000 for a single motorist or $50,000 for all motorists. New Mexico auto insurance companies routinely advise drivers to carry collision,
comprehensive, and medical payments insurance as well.
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