Best Motorcycle Insurance in New Mexico

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Contributor, Benzinga
August 19, 2020

Driving a motorcycle in New Mexico? Start with our guide to learn about requirements and find the best motorcycle insurance in New Mexico.

New Mexico Motorcycle Insurance: An Overview

  • State minimum insurance requirements:
    • $25,000 bodily injury liability for 1 person per accident
    • $50,000 bodily injury liability for 2 or more people per accident
    • $10,000 property damage liability per accident
  • Average annual rate with a clean driving record: $700

New Mexico Motorcycle Insurance Law Explained

In the state of New Mexico, all drivers are required to have a minimum amount of liability insurance coverage. Liability insurance coverage is broken down into bodily injury coverage and property damage coverage.

With liability insurance, your insurance company will payout if you are found to be at-fault in an accident. It offers coverage for bodily injuries to people in the vehicle you were in an accident with. It also covers property damage that you caused in an accident if the property belongs to someone else. 

The 1st step in purchasing motorcycle insurance is to enter your ZIP code to get a quote. Once you’ve purchased a policy that meets the minimum requirements, you should ask your insurance company to send your insurance information to the New Mexico Insurance Identification Database.

If you do not have insurance that meets the minimum requirements, your motorcycle’s registration could be suspended. You may also need to show a copy of your insurance policy or other proof of insurance when you register your motorcycle.

After you’ve met the minimum insurance requirements, there are other types of coverage you may want to consider adding to your policy as well. Here are other coverages to consider:

  • Medical payments, no-fault or personal injury protection coverage is what will provide coverage for yourself or your passengers if you get injured in an accident. Remember, if you cause an accident, your liability coverage only covers the drivers and passengers of other vehicles.
  • Motorcycle collision insurance is what you’ll need to cover damages to your own motorcycle if you’re found at-fault in an accident. With this coverage, the damages that are paid out will usually be based on the book value of your bike before the accident occurred.
  • Comprehensive coverage offers even more coverage for your bike. If your bike is damaged by something other than an accident, this coverage could pay for the damages. Covered events may include theft, fire and vandalism.
  • Uninsured or underinsured motorist coverage can be useful because there is a chance you could get into a collision with an uninsured vehicle. If the other driver doesn’t have the required minimum liability insurance, you may be left to handle your own medical bills and the costs of property damage. With this coverage, your medical treatment, property damage and even your lost wages may be covered.
  • Customized motorcycle parts or accessories coverage offers additional protection if you’ve added accessories or other features to your bike. It’s important to know that collision and comprehensive policies usually only cover the value of your bike with the standard factory parts. If your bike is damaged, this coverage may help you recover the costs of your added accessories or customized parts.
  • Towing and labor coverage can act as a roadside assistance service. If your bike needs a jump start, tow or other services, you can use this coverage to get help.

New Mexico Motorcycle Traffic Laws You Should Know

Since a motorcycle is a motor vehicle, it must adhere to the standard traffic laws in New Mexico. There are also laws that specifically pertain to motorcycles. New Mexico defines a motorcycle as a motor vehicle that has a seat or saddle for the use of the rider. 

Motorcycles are also defined as having no more than 3 wheels in contact with the ground. They must have an engine that is 50 cc or greater and be able to travel at least 30 miles per hour on flat ground.

In New Mexico, the following motorcycle safety laws must be followed:

  • Drivers must wear eye protection (such as goggles) unless the motorcycle has a windscreen.
  • All drivers and riders under the age of 18 must wear a helmet while riding a motorcycle. Reflectorization is required as well.
  • Motorcycles must have at least 1 mirror.
  • If carrying a passenger, a motorcycle must have a passenger seat and passenger footrests. These must be separate from a driver’s seat and footrests.
  • Motorcycles are required to have a headlight and a muffler.
  • Motorcycles must have at least 2 brakes that can be operated by hand or by foot.
  • Motorcycles must be able to turn a ninety-degree angle within a circle that has a radius of no more than 14 feet. This ensures that your bike can safely turn without putting yourself or others on the road at risk.
  • Your motorcycle should be equipped with a working horn that is capable of making an audible sound from a distance of no less than 200 feet. The horn should be used when it was reasonable to do so to give other drivers or pedestrians an audible warning. However, it should not be used otherwise.
  • You should not drink and drive your motorcycle. You can be arrested for driving with a blood alcohol content of .08% or more. If you’re under 21, you can be arrested for a blood alcohol content of .02% or more.
  • If you refuse to take a blood alcohol content test when asked by a police officer, you could lose your license for 1 year.

New Mexico Motorcycle Insurance Rates Per Bike

Where you’re planning to purchase a policy that only meets the minimum requirements or a full coverage policy, you should know the factors that impact your rates. Some of those factors include:

  • How old you are
  • The area where you live
  • Whether you store your motorcycle indoors or outdoors and the level of protection it has
  • Your driving record
  • The average number of miles you ride your motorcycle per year
  • The type of motorcycle you are insuring

All of these factors are considered because they can affect the amount of risk an insurance company takes on by selling you a motorcycle insurance policy. For example, a poor driving record may indicate that you are a risky driver. And if you only drive your motorcycle a few times per year, there isn’t as much risk of an accident because you aren’t using your bike often. 

The type of motorcycle you drive can also play a large part in an insurance company’s risk factor. Insurance companies will look at studies that show which types of bikes are most often involved in motorcycle accidents. In most cases, a high-performance bike is more likely to be involved in an accident than a touring model or a cruiser. 

High-performance motorcycles are popular for their acceleration, speed and braking performance. While a strong braking performance might sound like it should be a good thing for insurance companies, it can actually be the opposite. These bikes were originally designed for racing purposes.

Manufacturers have modified racing bikes for road use, making them high-performance motorcycles. They’re typically much lighter bikes and can lend themselves to more risky driving. Some examples of high-performance bikes include the Kawasaki ZX series, Honda CBR models and the Ducati Panigale.

Cruisers or touring models are at the other end of the spectrum. These bikes are a bit heavier than high-performance models and are a popular option because they’re easy to handle. Cruising models such as Harley-Davidsons are popular because they’re comfortable enough to go for a leisurely ride. 

You should also be familiar with other common insurance terms to fully understand your insurance rate:

  • Premiums are the number you’ll likely see pop up next to each insurance company when you get a quote. This is the cost of your policy, and what you will need to pay each month to keep your policy active.
  • Deductibles are the amount of money you must pay out-of-pocket for a covered claim. For example, if you have a $50 deductible on your liability coverage, you’ll need to pay $50 for property damage you caused before your insurance company will pay.

Motorcycle Insurance Quotes in New Mexico

CompanyQuote for a 1-year policyPrice Rating
Harley-Davidson Insurance$1,062.492

Motorcycle Insurance Discounts

CompanyDiscounts OfferedOverall Rating
ProgressiveTransfer discount, multiple bike discount, homeowner discount, claims-free discount, anti-lock brake discount, safety course discount, motorcycle driver’s license discount4.3
DairylandMultiple bike discount, loyalty discount, homeowner discount, riding group discount, safety course discount4.7
Harley-Davidson InsuranceMultiple bike discount, loyalty discount, homeowner discount, riding group discount, rider experience discount, anti-theft discount, safety course discount, motorcycle driver’s license discount3.7
FarmersMultiple bike discount, loyalty discount, homeowner discount, riding group discount, anti-lock brake discount 4.3
AAAMultiple bike discount, loyalty discount, homeowner discount, claims-free discount, anti-theft discount, safety course discount, 4.7

Best Motorcycle Insurance Providers in New Mexico

Finding the right motorcycle insurance policy means finding the right coverage from a good insurance provider. Here are some of the best motorcycle insurance companies in New Mexico.

What’s Next?

Now that you’re more familiar with motorcycle insurance requirements, it’s time to pick your policy. Make sure your insurance policy meets the minimum requirements set by the state of New Mexico. 

You may also want to consider additional coverage to give yourself and your motorcycle more coverage. Keep your proof of motorcycle insurance on you when using your motorcycle. Contact 1 of our recommended providers to find the best motorcycle insurance in New Mexico today.

Money-saving Motorcycle Insurance

Harley-Davidson Insurance Services provides services as a trusted motorcycle insurance agency that knows all about the motorcycle lifestyle. The company stands behind its policies with industry-leading services, coverage and support. You’ll also get money-saving motorcycle insurance discounts and experienced customer service and claims support.