Each state has a unique approach to handling auto insurance. If you reside in an at-fault or no-fault state, it will ultimately determine how your claim is processed. The at-fault party in an accident in New Mexico is liable for the damages they inflict, which their insurance company typically covers. You might, nevertheless, have no-fault insurance. Therefore it’s critical to comprehend how it functions.
You were hurt in a car accident in New Mexico, right? Let the personal injury attorneys at Caruso Law Offices, P.C. in Albuquerque assist you in pursuing financial compensation to lessen the burden following a car accident.
Many forms of automobile insurance
When an automobile accident occurs, the at-fault party’s liability insurance is typically contacted. The claim is processed under New Mexico’s statutes on fault.
The minimal liability insurance that each driver in New Mexico is required to have is:
- For bodily harm, $25,000 per person
- $50,000 for physical injuries per accident
- $10,000 for property damage for each accident
If the at-fault party has insurance, you can submit a claim up to the total amount of coverage.
A no-fault state pays for medical costs regardless of who caused the crash out of its personal injury protection (PIP) policy, but this state doesn’t.
No matter who was at fault, medical payments coverage will cover any reasonable medical costs you and your passengers incur as a result of injuries you get in a car accident. However, through a procedure known as subrogation, your insurance company may ask the at-fault party’s insurance carrier to compensate them for the money they paid you.
Theft, fire, other natural disasters, collision with another vehicle, hitting an object, and other damages are all covered by collision and comprehensive insurance. Although this insurance is optional, it is typically necessary if the car is financed.
You can claim your uninsured motorist insurance if you are involved in an accident with a driver who is not covered by it.
Insurance Coverage for Auto Accidents
Settlements for personal injuries in New Mexico are determined by the losses you incurred in the collision. Your Albuquerque attorney can assist you in pursuing compensation for:
- Medical costs, including ambulance fees, ER visits, and post-treatment care
- Damage to property, costs for a rental automobile, and vehicle repairs
- Reduced earning potential and lost wages
- suffering and pain