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You must prove that you’re financially responsible―capable of financially taking care of an accident―before you can take a car out on state roads.
New Mexico Liability Insurance Requirements for Private Passenger Vehicles
When you buy insurance, you can’t simply buy a small amount. The state requires at least:
$10,000 per accident for property damage
Having no proof of insurance results in several penalties:
If a police officer stops you and you simply don’t have the proof with you, bring proof that you had valid insurance on the day of the traffic stop.
If you are truly driving around without insurance, you face misdemeanor or other criminal charges, fines of $300 or more, and losing vehicle registration.
Drivers have an option of getting driver’s licenses that last for four or eight years until they reach age 67, when they can get only a four-year license. Starting at age 75, drivers must renew annually although it’s free. Drivers of any age must take a vision test with each renewal.
In 2011, the legislature turned away a proposal to test older drivers’ reflex and reaction times starting at age 75, and to require every-six-months renewals for people 90 and older.