New Mexico operates under the tort system where someone must be found to be at fault in the event of a road traffic accident. Because of this, motorists in the Land of Enchantment are required to hold the following levels of auto insurance coverage:
- $25,000 of bodily injury liability per person
- $50,000 of bodily injury liability per accident
- $25,000 of property damage coverage
Auto insurance in New Mexico is slightly more expensive than the national US average and last year, the average price of a policy was $1,841. This represented a rise of 8% on figures from the previous year. Because costs have risen again during 2009, many motorists are looking to find new ways of driving costs down. Discounted prices are normally much easier to find on the internet and for this reason, price comparison and insurance company websites are highly recommended.
Additionally, there are a number of other factors that drivers should be aware of when looking for cheaper auto insurance in New Mexico. Fitting vehicles with advanced safety and security features is a great way to lower premium costs while safe and secure overnight parking is also looked upon favorably by most major insurance carriers.
Younger drivers should consider avoiding cars with higher specification levels and settle for something more conservative until they have gained a safe driving history. They should also consider becoming a named driver on another policy and, if possible, it can also be beneficial to take an advanced driving examination to indicate responsibility and a desire to drive safely.