Discount Insurance Quotes in New Mexico – NM
In New Mexico, people will need to be prepared to pay for the injuries and the damages they cause to property if they ever cause a car collision. They may do this by offering a $60,000 deposit, or they may choose to purchase auto insurance. Auto insurance is the more affordable option as it will only cost New Mexico drivers on average $1,571.05 for a year rather than $60,000.
New Mexico requires a minimum amount of insurance coverage, and it is limited to liability coverage that covers the medical and repair bills of third parties. Unlike other states, New Mexico drivers do not have to purchase any coverage that would apply toward their own vehicles and bodily injuries, but they can add it as optional coverage.
The Limited Requirements in New Mexico
If one person is hurt, the at-fault driver’s auto insurance policy must be able to cover the medical bills in the amount of $25,000. If two people are hurt and file a claim for the bodily injury liability coverage, the policy must be able to accommodate them with at least $50,000. Those who have property damaged must be able to access at least $10,000 from the property damage liability policy.
Teens and New Mexico’s Insurance Laws
Teens and adults are treated differently when it comes to their driver’s licenses. Teens must undergo rigorous testing and will receive a graduated driver’s license before they will have full driving privileges in New Mexico. Although this is the case, every teen must have the same amount of auto insurance as adults.
The fact that a teen is an inexperienced driver means that auto insurance companies in New Mexico will automatically place these drivers in their highest risk categories. As parents know, their insurance rates rise significantly when they add their teens to their policies and the reason is because they are the cause or are involved in more car crashes than any other demographic. The fact that teens are more likely to be involved in a car collision means that it would be a grave mistake to avoid insuring these new drivers.
DUI Arrests and Convictions
Other drivers that will be placed right into the high risk category are those who break New Mexico’s DUI laws. Those who are found to be driving with a blood alcohol content (BAC) of .08 percent or higher in this state will be arrested. Their licenses will be suspended but they may have limited driving privileges returned to them 30 days into their suspensions.
Once New Mexico drivers have been convicted of DUI, even more penalties ensue. They will have to pay a fine of $500 and may need to spend up to 90 days in jail. The license suspension may be increased to six months. Subsequent offenses will raise the penalties even higher.
The Second Offense
A second offense requires that people receive penalties, such as:
• A mandatory jail sentence that will last at least four days but can be as long as 364 days
• A fine of $500
• Enrollment in a program for substance abuse
• License suspension that will last at least six months
The Third Offense
The third offense means even tougher penalties, including:
• A mandatory jail term lasting at least 30 days but not longer than 364 days
• A fine between $750 and $1,000
• Possible community service
• Suspension of their licenses for at least a year
• The requirement to obtain treatment for substance abuse
• The need to have the Ignition Interlock Device in their vehicles
In New Mexico, the driver who causes a collision will be charged with taking financial responsibility for the accident. Most people do this with an auto insurance policy but this can be expensive for those in the highest risk categories. It makes receiving discount insurance quotes in New Mexico all the more important for these people.