New Mexico SR-22 Insurance
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Rachael Brennan
Licensed Auto Insurance Agent
Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...
Licensed Auto Insurance Agent
UPDATED: Dec 4, 2023
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What is New Mexico SR-22 Insurance?
An SR-22 car insurance form usually refers to a certificate that is filed by an insurance provider for proof of continuous insurance in the cases of motorists who have had certain issues on their driving records. However, in the State of New Mexico, this form is not required. If you move to New Mexico and are required by another state to continue to have the SR-22 insurance form filed, you may need to continue to file with that state.
Six major factors affect car insurance rates in New Mexico. Which auto insurance factors will impact SR-22 rates the most? Typically, that’s an NM DUI.
Who needs an SR-22 Insurance Form?
Those who are considered high risk, due to certain driving violations, or a number of violations need to file SR-22 insurance forms in the states where they are required. Additionally, those who have had their licenses revoked or suspended may need to file SR-22 forms in order to remain allowed to drive. This form is usually attached to a policy and filed with the state in which it is required.
Are there different types of New Mexico SR-22 Forms?
No, in New Mexico, as the form is not required, there are no different types of New Mexico SR-22 car insurance forms. However, motorists moving to NM from a state where they were already required to have an SR-22 insurance form filed in order to maintain their licenses may want to check with that state.
What happens if I cancel my insurance policy with an SR-22?
You will need to replace it as soon as possible. Cancelling a policy (or letting a policy lapse) will cause your car insurance company to notify the MVD and your license could be suspended. The SR-22 filing means you have to maintain continuous car insurance coverage as long as the filing is required.
Is SR-22 Insurance required in New Mexico?
No. However, the State of New Mexico does have mandatory auto insurance minimums which must be met. The amount of car insurance liability coverage that is needed to legally drive in New Mexico is $25,000 in cases where one person is killed or injured, $50,000 for two or more, and $10,000 in property damage liability coverage for any single accident. Additionally, in the State of New Mexico, if you fail to provide proof of auto insurance coverage, you will first receive a Notice of Noncompliance. If you have coverage when you receive this notice, your New Mexico car insurance provider will need to then provide proof of insurance to the New Mexico MVD. This proof of insurance is similar to a New Mexico SR-22 insurance form in that it proves that you have at least the state minimum amount of coverage for New Mexico auto insurance.
New Mexico SR-22 Insurance: The Bottom Line
If you’ve been convicted of a driving violation in New Mexico, you may be considered a high-risk or non-standard driver. This may result in your car insurance rates to increase.
Even though New Mexico doesn’t require an SR-22 form, drivers with violations typically associated with SR-22 certificate may have a harder time finding an insurance company that will sell them a policy. If you’re considered a high-risk driver, it may be a good idea to shop for a new car insurance company in New Mexico.