New Mexico Auto Insurance

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New Mexico

Free, no obligation auto insurance quotes are a great way to sort out New Mexico auto insurance companies and choose the one that's right for you.

The same coverage doesn't necessarily mean the same rate when it comes to NM auto insurance. Looking at rates, side by side, is the best way to make an informed decision.

We hope you find our services helpful in finding auto insurance.

New Mexico auto insurance is mandatory for the safety and security of drivers, passengers and property traveling the roads of the state. The minimum liability coverage includes $20,000 bodily injury or death of one person, $50,000 per accident for bodily injury or death to more than one person, and $10,000 per accident for property damage. The state offers one way around the required coverage; if you can present a $60,000 cash deposit or surety bond, you will be considered covered without having to make payments to an insurance company every month. Just because this is an option doesn't mean it's a good plan. A serious accident can bring costs exceeding this amount, in which case you would have to cash in other assets to cover your injuries and damages in addition to damages incurred by another party. Repeat offenders and those who are denied traditional insurance would have to consider this alternative.

In 2006, according to the New Mexico Department of Transportation, an individual died in a traffic accident every 18 hours, an individual was injured in an accident every 24 minutes, and an automobile crash occurred every 11 minutes. In 2006, New Mexico experienced 49,318 automobile accidents. Of these accidents, 424 were fatal, 14,673 caused injuries, and 34,221 resulted in property damage only. 484 people were killed and 22,217 people were injured. The death rates for automobile accidents in the state of New Mexico exceeded those for the United States, as they have for at least twenty years (New Mexico statistical report dates begin with 1997). In 2006, New Mexico crash fatalities were 24.8 per 100 thousand, while nationally there were 14.2 per 100 thousand. New Mexico does report some improvements in traffic accident statistics. Between 1997 and 2006, however, the New Mexico crash rate has decreased by 15 percent. In 2006, there were 1,784 fewer injuries than in 2005, which is an improvement of 7 percent.

When do most accidents occur in the state? In 2006, there were 27 percent more fatal crashes in May, June and July than the rest of the year. 49 percent of all fatal crashes occurred on Friday, Saturday and Sunday. 33 percent of all crashes occurred on Thursday and Friday. The most dangerous time to drive was between 3 pm and 6 pm on Fridays, in urban areas. Of all automobile accidents in New Mexico in 2006, 85% were urban and 15% were rural. Traffic accidents cost $2,500 per licensed driver in 2006. 92 percent of all automobile accidents happened in clear weather. Even the most responsible motorists cannot be guaranteed to avoid an accident. There are only so many factors under your control, the most important of which are safe driving practices and adequate New Mexico auto insurance.

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