albuquerque auto insurance quotes - minimum requirements

Minimum auto insurance requirements for Albuquerque are governed by New Mexico state law, so on this page we'll take a look at the details of that law. Most of the online quotes you'll receive here will take into account New Mexico auto insurance laws - but it's a good idea to become familiar with New Mexico minimums nonetheless.

Here are the facts on New Mexico state insurance law:

• New Mexico is not a no-fault state. No-fault insurance is not mandatory.
• Insurance covering damage to your vehicle (i.e. comprehensive and/or collision coverage) is not required in New Mexico.
• However, "liability" insurance is mandatory. This type of insurance covers you against liability in the event of personal injury or vehicle/property damage suffered by occupants of another vehicle, or pedestrians.
  • For bodily injury, The minimum amount of coverage is $25,000 per person involved. The minimum coverage for all persons injured in any one accident is $50,000.
  • For property damage (not including the policy-holder's vehicle), the minimum coverage is $10,000 for all property damaged in any one accident.
• Uninsured Motorist and Underinsured Motorist are not required by law in New Mexico.
• Comprehensive and Collision insurance (which cover damages to your vehicle in the event of an accident) are not required by law in New Mexico, though they will likely be required by lenders for financing.
• Note that while these numbers represent the state minimums, you are liable for any damages you cause over and above the coverage you purchase. With this in mind, you might want to consider acquiring more liability coverage than is strictly required.
• Laws change, and this site does not pretend to be perfectly up to date at every moment - it's always a good idea to double-check with a state sponsored site.