East Coast Auto Insurance offers top rated New Mexico auto insurance companies from Allstate to Geico and Progressive and 21st Century. We will help you find suitable coverage no matter what your driving history is. Call us now at 888-206-0565 for immediate assistance.
Similar to most states, New Mexico requires vehicle owners provide “proof of financial responsibility”, either by depositing $60,000 with the State Treasurer, or by buying an insurance policy with the following minimums:
- $20,000 bodily injury for one person, per accident
- $50,000 bodily injury for two or more persons, per accident
- $10,000 property damage
One of New Mexico’s top priorities is to put an end to drunk driving. The state has established checkpoints, which allows law enforcement officials to stop drivers at random to determine sobriety. New Mexico’s tactics seem to be working. During the year 2007, New Mexico ranked 33 on the list of states that recorded fatal DUI crash rates.
In the state of New Mexico, teen drivers are involved in more fatal car crashes than any other group, with young males ages 16-20 leading the pack. New Mexico wants to reduce the number of non-fatal and fatal car accidents involving teens, so it currently follows the Graduated Driver Licensing (GDL) program.
At East Coast Auto, we evaluate each application individually and customize appropriate policies to insure that you, your family and your assets are fully protected.
Most financial and legal experts will agree with our recommendations for increased coverage and additional coverage, such as: collision, comprehensive, personal injury, uninsured/underinsured motorists.
Since New Mexico has the highest ratio for ‘uninsured motorists’ the later coverage is amongst our strongest counsel. We will offer you maximum coverage at the lowest rates.
Call now 888-206-0565
What are the rules and guidelines auto insurance companies must follow regarding the use of Personal Credit History in selecting applicants and setting rates?
In New Mexico, auto insurers are permitted to use Personal Credit History to help determine which products they will offer as well as rates. Your Personal Credit History may also be used to determine whether you will be making monthly or quarterly payments or if you will be required to pay the entire premium upfront. Personal Credit History is also used to create an “insurance risk score.” This score also helps determine your auto insurance rates. In order to enjoy a lower insurance premium, pay your bills on time in an effort to improve your score. This will also help improve your credit history so that in the long run, you can save money on your car insurance premium. While Auto insurance companies may use credit history to determine rates and offers for products, they rarely use credit history alone. They also consider age, gender, where you live, car make and model, how much you drive, and driving record.
Is the state a No Fault or Tort state? What does either mean to the policy owner?
New Mexico follows a Tort System. What this means is, if you are involved in an accident, someone must be found to be the cause or fault of the accident. The person deemed at fault is responsible for all damages. Damages are usually handled through the at-fault person’s insurance company. Because New Mexico is a Tort state, most insurance companies recommend that driver’s consider carrying higher coverages than the state minimums.
What is the average auto insurance premium in this state? As of what year?
As of 2006, New Mexico resident’s average insurance premium was approximately $737, the 29th most expensive in the nation. This was up 0.8% from the previous year. The national average was $817.
We will place insurance only with top rated companies, such as:
- 21st Century
- AARP
- AIG
- Allstate
- Esurance
- Geico
- Kemper
- Liberty Mutual
- Nationwide
- Progressive
- State Farm
- Zurich