Uninsured and underinsured motorist coverage matters in New Mexico because it protects drivers from the irresponsible behavior of the people on the road around them. While it is mandatory to purchase car insurance in New Mexico, a significant percentage of New Mexico motorists refuse to take steps to protect themselves from the financial fallout of a collision.
Purchasing uninsured and underinsured motorist coverage allows you to take steps to minimize your financial strife after an accident involving an unprepared driver. Our team at Dominguez Law will work with you to ensure that your rights are protected if uninsured or underinsured motorist coverage plays a part in your auto accident case.
New Mexico’s Mandatory Car Insurance Laws
All drivers in New Mexico must purchase at least the state’s minimum liability insurance if they want to legally operate a motor vehicle on the road. At the moment, the state requires that drivers invest in at least the following:
- $10,000 per accident for property damage
- $25,000 per person for bodily injury or death
- $50,000 per accident for bodily injury or death
Notably, everyone can invest in additional coverage on top of the state’s minimum liability insurance, including uninsured and underinsured insurance.
Unfortunately, many drivers will not even invest in the bare minimum insurance they need to safely operate a motor vehicle on the road. As such, drivers caught operating a vehicle without insurance can face license suspensions on top of fines and jail time.
What Is the Benefit of Purchasing Uninsured and Underinsured Coverage?
Most people who purchase New Mexico’s minimum liability insurance choose to do so either because they do not drive frequently or because they cannot afford additional coverage. If purchasing minimum coverage keeps your costs low, why would you consider investing in uninsured and underinsured coverage?
Drivers without insurance in New Mexico and their lack of coverage can quickly become devastating if you get into an accident with them. They will not have any financial safety net to fall back on, leaving you in a bind when it comes time to pay for your emergency medical care and property damage.
A UM/UIM policy protects you from those expenses. Specifically, your UM/UIM coverage comes into effect after your baseline policy does. The additional coverage ensures that you can afford to pay for emergency care, vehicular maintenance, and any rental vehicle you need while your car is undergoing repairs.
When Can Uninsured and Underinsured Motorist Insurance Protect You?
You can specifically count on your UM/UIM insurance policy to protect you when:
- You are injured in an accident involving a driver without liability insurance
- You are injured in an accident with a driver who has liability insurance but whose policy does not cover the extent of your losses
- You get into a hit-and-run and cannot find the person responsible for your losses
However, make sure you know what your policy’s limits are. Policy limits put a cap on the amount an insurance company will spend to account for your medical care, lost wages, and property damage.
If you do not get the financial support you need from your UM/UIM policy due to limit caps, do not worry. You can connect with a car accident lawyer in New Mexico to discuss if it is financially worth it for you to pursue a personal injury claim against the party responsible for your losses.
Can You Safely Drive Without Purchasing Uninsured and Underinsured Motorist Coverage?
You can legally and safely operate a motor vehicle in New Mexico without purchasing uninsured and underinsured motorist coverage. However, doing so may leave you short on protection if you get into an accident with someone illegally operating a motor vehicle on the road.
You can ask a car accident lawyer to help you interpret the nature of your coverage if you are struggling to get the support you need from an insurance provider after an accident. We do not let insurance claims adjusters act in bad faith or wrongfully deny your requests for support.
Do Not Drive Unprotected in New Mexico: Reach Out to Dominguez Law Today
In an ideal world, you could trust the drivers on the road alongside you. In reality, too many drivers make poor choices behind the wheel without the coverage they need to keep you safe. If you want to stay one step ahead of a financially devastating accident, it is in your best interest to purchase uninsured and underinsured motorist coverage from a trusted provider.
If you do get into a car accident and decide you want to take legal action against a negligent driver, let our team help you through the process. You can book a free case accident case consultation with our compassionate and aggressive attorneys today by calling (505) 850-5854 or contacting us online.
