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For drivers who live in New Mexico, it might be a good idea to review their car insurance policies. That is because insurance policy details can vary from state to state.
Reviewing state-specific differences in insurance coverage is a wise move for not just drivers in New Mexico, but also for anyone who wants to make sure they are properly protected. After all, the auto insurance buying process can be tricky.
New Mexico car insurance
ABQ Journal reported that there is a small coverage gap in New Mexico auto insurance policies.
That means that those who live in New Mexico might find it helpful to review their policies. Insurance coverage in New Mexico differs from insurance in other states.
New Mexico already requires all motorists to have liability insurance. This is a fairly common requirement for states. However, that does not mean every auto accident that occurs will be sorted out by insurance. Sometimes, the other party might not have insurance, or does a hit-and-run.
According to ABQ Journal, when someone purchases car insurance in New Mexico, they will get uninsured motorist coverage unless they specifically decline it.
Uninsured motorist insurance allows the policy to financially recover if they are somehow injured by a person who has no insurance, or who doesn’t stop to provide insurance information. This includes hit-and-run collisions.
However, the problem is that according to ABQ Journal, New Mexico’s uninsured or underinsured insurance does not guarantee help even when it might seem like they should offer coverage for the damage caused by a car accident.
How to know you’re not overpaying for auto insurance
Because of the way uninsured insurance works in New Mexico, drivers may want to be careful when buying insurance.
Just because a driver pays their extra uninsured insurance premiums dutifully, they still might end up receiving no insurance help when they might need it.
It can be a good idea to look into the uninsured/under-insured policy that the insurance company is automatically charging you extra for, and see if it is right for you.
There are many insurance scams and credit concerns going around these days. It can be difficult to get legitimate, cheap auto insurance.
There are tips that may help drivers figure out if they’re overpaying for auto insurance.
Save money on car insurance
MORE: New Mexico DUI Laws
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