Bill > HB97

This bill amends New Mexico's motor vehicle insurance laws to clarify and expand requirements for uninsured and underinsured motorist coverage. The legislation modifies existing statutes to define "underinsured" as a situation where the total bodily injury liability insurance limits are less than the insured's uninsured motorist coverage limits. It requires that motor vehicle insurance policies include minimum coverage amounts for bodily injury and property damage, specifically $25,000 for injury or death of one person, $50,000 for injury or death of multiple people in a single accident, and $10,000 for property damage. The bill also mandates that uninsured motorist coverage now automatically include underinsured motorist protection, removing previous provisions that allowed insureds to reject this coverage. Additionally, the uninsured motorist coverage can exclude the first $250 of property damage loss. These changes aim to provide broader protection for drivers by ensuring more comprehensive insurance coverage in accidents involving uninsured or underinsured motorists. The bill will take effect on January 1, 2026, giving insurance companies time to adjust their policies to comply with the new requirements.

Transportation and Infrastructure

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=97&year=25