Best Local Car Insurance Agencies in Santa Fe, NM

Santa Fe, NM Car Insurance Agency FAQs

• What is the required minimum amount of auto insurance in Santa Fe?

  In Santa Fe, there is a minimum amount of auto insurance that all drivers must carry for them to drive in the area; the minimum amount of car insurance is commonly referred to as 25/50/10. It includes $25,000 covering bodily injury per person, $50,000 covering the combined injuries of involved parties, and $10,000 covering any property damage.

• Is it required for drivers in Santa Fe to have uninsured or underinsured auto insurance coverage?

  Insurance companies in Santa Fe are required to offer uninsured or underinsured motorist insurance to their clients, but clients are not required to get it. You have the option to reject an insurance provider should they make the offer. But remember, adding this to your policy is a good idea in case you are involved in an accident with someone who is uninsured or only has minimal coverage.

• What happens if a driver in Santa Fe does not get auto insurance?

  If a car in Santa Fe does not have the minimum amount of auto insurance required, then the vehicle registration will be suspended. You'll need to get insurance first before registering your car again. According to the New Mexico Mandatory Financial Responsibility Act, if your car is uninsured, you have 10 days from receipt of the Notice of Suspension of Registration letter to return your vehicle registration and license plate to the MVD.

• Is it required for insured drivers in Santa Fe to be listed in the New Mexico Insurance Identification Database?

  Once you have acquired the minimum amount of auto insurance required, you will need to provide your information to the New Mexico Insurance Identification Database since insurance companies in Santa Fe are required by law to register their clients' auto insurance information in this database. This is important so that your car will be identified as properly insured.

• Whose insurance policy will be used in case of an auto accident in Santa Fe?

  New Mexico is a fault-based state, meaning that the insurance company of the at-fault driver will be responsible for covering the damages from an accident in Santa Fe. New Mexico also utilizes the "comparative negligence" law. Any person who is over 50% at fault for a car accident is not allowed to seek compensation from the other driver. However, if both drivers are equally responsible for the accident, they can collect damages from each other using their auto insurance policies.