If a driver causes an accident resulting in property damage, what is the minimum amount they must be insured for per accident in New Mexico?

In New Mexico, the minimum amount a driver must be insured for per accident, specifically in cases involving property damage, is $10,000. This requirement ensures that there are sufficient funds available to cover the costs associated with damage to another person's property resulting from an accident caused by the insured driver.

Understanding this minimum coverage is crucial, as it serves both to protect the injured party's interests and to help the at-fault driver avoid potential financial liability beyond their insurance coverage. In accidents where property damage exceeds the minimum coverage, the responsible driver may be held personally liable for any additional costs, which highlights the importance of having adequate insurance.

It's important to know the legal requirements for insurance coverage to ensure compliance and to safeguard oneself and others on the road.