Auto Insurance Coverage Available In New Mexico
Below is a list of the various types of auto insurance coverage you may have included in your New Mexico auto insurance policy.
If you have questions about any or about your individual policy as it relates to a claim, reach out to Matthew Vance in Albuquerque for guidance.
Property Damage-Related Coverages
Pays for accidental damage to your vehicle in the event it collides with another vehicle or object – regardless of fault. This coverage may also include necessary towing charges to a repair shop of your choice within a reasonable distance from the scene of the crash. Deductible limits will apply.
Pays for accidental damage to your vehicle caused by something other than a collision, including things like hail, vandalism, fire, theft, animal impacts, or falling objects. This coverage can also include towing to a repair shop of your choice within a reasonable distance from the scene of the crash. Deductible limits will apply.
Property Damage Liability Coverage
Pays for damage to someone else’s property, including but not limited to vehicles, when you may be at fault, in whole or in part, for an accident/incident.
Rental Car Coverage
Pays for rental car-related expenses in the event your car is disabled as a result of an occurrence or while your vehicle undergoes repairs.
Bodily Injury-Related Coverages
Bodily Injury Liability Coverage
Pays for bodily injuries to someone else when you may be at fault, in whole or in part, for an accident/incident. This can include injuries caused to passengers in your own vehicle. If you are the victim of a negligent driver, then this is the coverage under the other person’s policy that will pay for your bodily injuries.
Medical Payments Coverage
This is like health insurance on your auto policy. It will pay for medical bills or co-payments incurred by you or your passengers because of an automobile-related occurrence. Limits of medical payments coverage can vary.
Uninsured And Underinsured Motorist Coverage
Provides protection to you and the occupants of your vehicle for bodily injuries caused by a negligent driver who has either no liability coverage or whose liability coverage limits are less than your damages and less than your limits of uninsured motorist coverage. If you have more than one vehicle insured with uninsured/underinsured motorist coverage, you may be entitled to stack your coverage.
You may also be able to access this coverage if your vehicle was not actually involved in the crash or incident. In New Mexico, this is important coverage to have, and it is wise to have coverage limits above $25,000.
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