There are many things to worry about after being in a car accident, and whether or not you have insurance coverage shouldn’t be one of them.
If you’re found to be at fault for an accident, you could be looking at some serious out-of-pocket expenses. The following are important things to know about New Mexico’s fault-based insurance laws and how they could impact your Albuquerque auto accident claim.
What Does Being an At-Fault State Mean?
“At-fault state” refers to the type of insurance system in place where drivers are held responsible for the accidents they cause. When an accident occurs in these states, the liable party’s insurance company is responsible for covering the damages and injuries the innocent party has endured.
To determine fault in a car accident, most states (including New Mexico) utilize what’s known as the “comparative negligence” law. This rule states that any person who is more than 50% at fault for an accident cannot seek compensation from the other driver. [1]
If it’s found that two drivers are equally responsible for a crash, they can both potentially collect damages from each other. However, if one driver is more at fault than the other, they will be held responsible for any damages.
New Mexico has a fault-based system in place for car insurance; this means that the driver found to be at fault for an accident is responsible for all resulting damages and medical expenses incurred.
If You Are Deemed at Fault in a Car Accident in New Mexico, Your Insurance Company Will Be Responsible for Paying the Damages
New Mexico requires drivers to carry a minimum of liability auto insurance. The minimum required insurance amounts are $25,000 for bodily injury to or death of one person, $50,000 for bodily injury to or death of two or more persons, and $10,000 for property damage in any one accident. [2]
Breaking New Mexico auto insurance laws can have serious consequences and can cost you in the long run. If you are at fault for an auto accident, your insurance company will be responsible for covering all damages, including medical bills and car repairs.
Unfortunately, if these payments exceed the limit of your policy coverage, you may be forced to come up with a large sum of money out of pocket to cover any remaining costs.
Without Sufficient Coverage, You Will Be Paying Out of Pocket for Damages
If you’re the victim of an auto accident in Albuquerque, having adequate car insurance is a must. Without it, you may be subject to enormous out-of-pocket costs for both property damage and personal injuries.
New Mexico has specific laws in place that require drivers to carry enough coverage to cover the costs of damages incurred. Failing to ensure that your insurance meets these requirements can leave you with a hefty bill should you get into an accident; the fines imposed by the state are typically up to $1,000 depending on the nature of the offense.
Driving Without Insurance is Against the Law and Can Cost You
Failing to carry car insurance is a huge risk, not just to yourself but to others. By deciding to drive without insurance you are putting yourself and other drivers in danger, as well as breaking the law.
In New Mexico, the fines and fees for driving without insurance can be high – with the potential of costing you up to $1000 in additional expenses.
Not only will breaking the law cost you money but if you have an Albuquerque auto accident claim, your lack of insurance can harm your ability to be compensated.
Don’t take these risks – get insured to protect yourself from heavy fines and fees!
Take the Right Steps After a New Mexico Auto Accident
If you find yourself in a car accident, make sure to take the following steps:
- Check for injuries and ensure safety by moving to a safe location and asking yourself and other involved parties if they are injured. Seek medical attention even if you feel fine.
- Exchange information between all involved parties to ensure your rights are legally protected. Be sure to include contact and insurance details.
- Call the police and have them document the incident on record. Doing so is imperative to file the accident claim, especially if the other driver is found at fault.
- Document the scene by taking photos and videos of all damages and relevant conditions.
- Keep records of medical bills, repair estimates, and any other documentation related to the accident.
- Notify your insurance company as soon as possible to start the insurance claim.
New Mexico has laws in place that protect drivers who take the proper steps when involved in an accident, don’t let breaking them cost you thousands of dollars.
If you have been injured in an accident and are looking for one of the best Albuquerque car accident attorneys give Goldberg & Loren a call at (505) 421-3698 or fill out the form for a free consultation.
Sources:
[1] 2011 New Mexico Statutes :: Chapter 41: Torts :: Article 3A: Several Liability, 41-3A-1 through 41-3A-2 :: Section 41-3A-1: Several liability. (n.d.). Justia Law. https://law.justia.com/codes/new-mexico/2011/chapter41/article3A/section41-3A-1
[2] New Mexico Auto Insurance Requirements. (n.d.). www.mvd.newmexico.gov. Retrieved June 15, 2024, https://www.mvd.newmexico.gov/vehicles/insurance/
