By Danielle D | CSR at Learnandserve.org | Powered by A Plus Insurance

New Mexico is a fault state, meaning it uses a tort-based system. The party responsible for the wrong-doing that caused the car accident will be financially liable to all victims involved. You will need to open a claim with the at-fault person’s insurance company to pursue damage recovery.

• $25,000 in bodily injury insurance per person
• $50,000 in bodily injury insurance per accident
• $10,000 in property damage insurance

In New Mexico liability insurance is the only insurance that is required. However, you have the open option to decide if you are wanting to add additional insurance. If you read below, you can get a better understanding of estimated offers and using your personal information you can see a more accurate price range.

All Coverages Explained

Liability Insurance: means “responsibility” liability helps pay out when you are responsible for an any accident. (required)

Collison Insurance: when there is a collision with another vehicle that there are damage of property regardless of who’s fault it is. (not required)

Personal Injury Protection: this coverage is to help with any expenses that makes the individual responsible for their own injuries in an accident regardless of fault. (not required)

Uninsured and Underinsured Motorist: uninsured is when someone is found at fault for an accident but doesn’t carry liability. Underinsured is when someone is found at fault but their limits are too low for the medical expense.(not required)

Comprehensive Insurance:  can help pay the costs of damage to your car for non-collision related claims, can be road damage, hail, rock, etc. (not required)

Medical Payments Insurance: this coverage will help if there are any medical bill’s that needed to be paid due to an accident. (not required)

These Carriers listed are the average prices they offer in New Mexico just for liability only. Take a look at what could possibly be expected in rough estimate of these carriers in New Mexico.

Carrier	Average Prices
Mendota	$86
progressive	$93
Assurance America	$102
The General	$103
national General	$104
Acceptance RTR	$105
Dairyland	$116
USAA	$119
State Farm	$121
Bristol West	$122
Safeco	$125
Farmes	$140
Geico	$140
All state	$142
21 Centry	$144
Travelers	$146
Liberty Mutual	$154
American Family	$159
Nationwide	$159
Gainsco	$176
State Auto	$177

The carriers also listed are their estimated offer prices for Full coverage insurance which keep in mind is liability with additional insurance.

Carrier	Price
Progressive	$135
American family	$141
All State	$145
National General	$146
USAA	$147
Assurance America	$163
Bristol West	$166
The General	$169
Travelers	$170
Gainsco	$171
21 Centry	$173
Nationwide	$173
Geico	$175
Farmers	$176
State Farm	$176
Safeco	$177
Acceptance RTR	$185
Dairyland	$185
Mendota	$185
Liberty Mutual	$206
State Auto	$209

The prices listed above are accurate rates that is expected in New Mexico. The insurance cost estimator can give you a more accurate rate depending on your more detailed personal information.

Insurance Cost Estimator

Type of CoverageLiabilityFull Coverage

Deciding which coverage’s best fit you can be a bit challenging, to help the debating between if you may or may not end up getting full coverage the calculator can help suggest that decision.

“Should I Get Full Coverage” Calculator

Age of Vehicle0 to 2 yrs3 to 6 yrs7 to 10 yrs11 to 14 yrs14+ yrs old

Value of VehicleUnder $750$750 to $2,500$2,501 to $5,500$ 5,501 to $12,500$12,501 +

Monthly premium increase for Full coverageunknownLess than $65$66 to $125$125 and up

Under 6 = Liability / 7 to 9= Consider Full Coverage / 9 += Full Coverage RecommendedAlways talk with an insurance professional to discuss your specific needs.

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By getting insurance through a carrier, you are able to see if you can be suitable for discount’s by taking this calculator to help decipher.

Insurance Discount Calculator

Check all That Apply (Average Discounts)

Payment DiscountsEFT (Auto Pay)Paid in FullBill by Mail

Lifestyle Discounts

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Misc. Discounts

Good StudentDefensive Driver Discount

Driver Discounts

Accident/Violation FreeUser based program (snapshot)

Other Discounts

Bundled Policies6 Months of Continuous insurance

Most Companies Max out discounts at 25 to 35%.

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Last Updated on February 7, 2023 by Alexis Karapiperis