Roswell Car Insurance

Roswell, New Mexico made history for the UFO incident. Thousands of people visit the crash site every year, but more than 48,100 residents call Roswell home. For these residents, Roswell is a beautiful town with a low cost of living and welcoming community members.

Roswell is becoming more modern with its boom in popularity, but the city still lacks a quality public transportation system — which means driving more than in other cities.

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In this car-dependent city, it's important to learn about auto insurance requirements and have the right coverage. Here's what you need to know before you register a car in your name.

Auto Insurance is Required in New Mexico

Auto insurance laws are set by state officials. In New Mexico, state officials have mandated that all registered vehicle owners must carry auto insurance to pay for damages caused to others while they are driving.

Since the state, like most, operate under a tort system, having the money to pay for damages is important.

Without an auto insurance requirement, there would be no way to guarantee that drivers could pay for third-party damages.

State law requires third-party liability coverage. All other coverage options available are considered optional. Requirements for drivers in Roswell and all throughout New Mexico include:

• Bodily Injury – $25,000 per person and $50,000 per accident
• Property Damage – $10,000 per accident

What does a basic auto insurance policy pay for?

Basic auto insurance policies will help you cover damages after a minor accident.

If you are shopping for insurance on a very limited budget, having the bare minimum coverage options and limits is better than having no insurance at all. Here's what each liability coverage requirement covers:

• Bodily Injury Liability – Pays for third-party medical bills, court costs, rehabilitation costs, lost wages, and related costs when you're in an at-fault accident
• Property Damage Liability – Pays to repair damaged property or replace destroyed property that you don't own when you're in an at-fault accident

What is Uninsured Motorist Protection and who should buy it?

In Roswell, you have the option to buy Uninsured Motorist Protection (UM). This coverage pays for your medical expenses if a someone hits you and they don't have insurance.

While the coverage isn't required, you must carry limits that match the minimum Bodily Injury Liability limits available if you want the protection.

Not everyone can afford to the added protection, but if you can, you should add it to your policy. In the state of New Mexico, about 21.6 percent of drivers are uninsured. This amount is almost twice as high as the 12.6 percent national average. Since Roswell is a tourist destination, it's even more important to carry UM.

Other Coverage Options That You Can Purchase

You should always review all coverage options when you're building your insurance policy.

Buying extra coverage ensures that you will have protection to help you pay for damages and expenses in the event of an accident. Here are some extra coverage options:

• Medical Payments – Pays for immediate medical expenses on a per person basis regardless of fault
• Comprehensive – Pays to repair your covered auto after it's in a non-collision loss
• Collision - Pays to repair your covered auto after you're in a collision or your car rolls over
• Rental Car – Pays for a replacement vehicle after a collision or comprehensive loss
• Towing – Pays for tows to repair shops or safe areas after you break down

How to Choose a Car Insurance Carrier

Once you know how much coverage you need, the next step to finding the perfect policy is to find a reputable insurance carrier.

There are hundreds of different carriers of all sizes that do business in the state of New Mexico. If you want to sift through the companies so that you can differentiate the good from the bad, here are some tips:

• Check the carriers licensing status with the Motor Vehicle Division
• Look up the company's financial strength rating with an unbiased agency like A.M. Best
• Do your research and read customer and claims satisfaction reports
• See what types of products that the company offers

How to Save Money on Your Insurance

Insurance premiums vary by state and by household. While some drivers pay more than others, there are ways to keep your rates low. Make sure you try these tips to save money on a high-limit policy:

• Carry high property damage deductibles
• Take advantage of a low mileage discount
• Exclude high-risk household members who don't drive your car
• Get credit for all of your years of driving experience
• Show proof of prior insurance for a discount

But the best way to save money is to shop around. Use our FREE rate comparison tool now! Just enter your zip code below to find the best rates for car insurance in Roswell!