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Cheap car insurance in Albuquerque ' if you opt for New Mexico's minimum liability car insurance requirements rather than to purchase full-coverage insurance ' can be obtained in one of two ways: you can purchase the minimum liability auto insurance policy from a New Mexico car insurance company of your choosing, or you can insure yourself.

Affordable Albuquerque car insurance comes relatively easy to safe drivers with decent driving records and minimally flawed credit reports. If a New Mexico driver is eligible to purchase a minimum liability car insurance policy, and if he or she is alright with the idea of not having full-coverage car insurance in Albuquerque, the minimum liability coverage policy is probably the cheapest New Mexico car insurance for him or her.

New Mexico's minimum liability car insurance requirements are as follows:

'$10,000 per accident for property damage

'$20,000 per person for bodily injury or death of a person

'$50,000 per accident for bodily injury or death of more than one person

You may think this doesn't seem like much insurance coverage ' only $20,000 if a person should die in an accident? That hardly seems like adequate insurance for the death of a person in an accident caused by you. This is why insurance companies licensed to sell auto insurance in New Mexico recommend purchasing more than the minimum liability car insurance requirements.

Of course, if you have an extra $60,000 lying around, you can opt to self-insure. You simply need to make a cash deposit or purchase a surety deposit for $60,000 and have it on file with the New Mexico State Treasurer's Office.

Again, if you have this kind of money to put toward Albuquerque car insurance, this may be a cheaper option for you. You won't have to make premium payments, which are required when you purchase a traditional car insurance policy. You will have to withdrawal the money if an accident occurs; however, if you're a safe driver, you may never have to do that.