Car crashes can destroy your finances. Just the cost of a rental vehicle for a few days can add up to hundreds of dollars. Most people deal with those expenses by filing an insurance claim.
The driver at fault for the collision should provide you with information about their automobile liability insurance. Their policy can pay to repair your vehicle or help you purchase a new vehicle. Generally, it can also provide you a rental car, cover your medical bills and reimburse you for lost income.
Some people hurt in car crashes may eventually learn the driver to blame for the wreck did not have enough liability insurance.
New Mexico requires minimal liability coverage
In theory, every driver in New Mexico should carry at the very least motor vehicle liability protection. Although anyone can carry more coverage, many drivers only pay for the least amount required by law. The law requires drivers carry $10,000 in property damage coverage and $25,000 in bodily injury coverage when they hurt one person or $50,000 for a crash that hurts two or more people.
The minimum liability for bodily injury might be appropriate if you had only soft tissue injuries, however, might be far too little to cover the cost of a spinal cord injury or a brain injury. Those who are forced to replace their vehicles due to a crash may discover the at-fault driver’s property damage coverage, though compliant with the law, is not enough. Those unable to receive full compensation from the insurance company(s) may need to consider other options, such as a civil lawsuit against the driver who caused the crash.
Learning about what laws protect you after a car crash can help you defray the cost you incur in a collision.