SR-22 Insurance in New Mexico
Figures updated
New Mexico filing rules explain who needs one, the duration and the state's charge.
- the state asks for this form to show financial responsibility. You can use a surety bond certificate, choose a binder, or provide an insurance policy or certification. Another option is a Treasurer's certificate of deposit.
- 25/50/10. The minimum liability limits.
- Ranked 24th of 51.most expensive state (1st = highest)
Rules for SR-22 in New Mexico
After a serious offense, New Mexico asks for a filing that shows financial responsibility. Acceptable proof includes a surety bond certificate, a binder, or an insurance policy or certification. A Treasurer's certificate of deposit also works.
Following a suspension or revocation, the New Mexico MVD requires proof of financial responsibility before granting an ignition interlock license or limited license.
| Rule | New Mexico |
|---|---|
| Form | financial responsibility can be shown with a surety bond certificate; a binder is another option. An insurance policy or certification also works, as does a Treasurer's certificate of deposit. |
| Liability it must prove | 25/50/10 |
Source: Chapter 10: Reinstatement Requirements | Motor Vehicle Division NM.
How it affects your price
The filing itself is inexpensive; what raises the premium is the offense behind it.
One at-fault accident pushes a price up about 1.5 times in the state rate guides we use.
With the New Mexico liability average at $669, the total would be about $1,004 a year.
Ways to get one
- Ask your insurer to submit the form to the state, but this service isn't available from every company.
- Don't own a car? The filing can be carried by a non-owner policy.
- Pay the policy and keep it current. The state hears about a lapse, and it can restart the clock.
Originally written