Are you looking for a New Mexico Commercial Truck Insurance Quote? How about 3 quotes?
Compare Truck Insurance Quotes
To get the best price on your semi truck insurance you need to shop around. Let us help by bringing you three New Mexico Truck Insurance Agents that will compete for your business.
Just fill out our short online form and you’ll get three competitive quotes from three top agents in NM. Easy!
How Much Does Truck Insurance Cost In New Mexico?
The average cost for commercial truck insurance in NM is $13,792.
Most premiums range from $11,037 to $15,071.
These cost estimates are based on truckers with one truck operations who need insurance for liability, cargo and physical damage. There are many factors that influence the cost such as: what you are hauling, your driving history, and how long you have been in business.
An Example Of Truck Insurance Costs In NM
1 Truck Based in Deming
| Experience | Less Than 2 Years |
|---|---|
| Radius | Interstate, Unlimited Miles |
| Cargo | General Freight, Metal, Motor Vehicles, Building Materials, Machinery |
| Operation | For Hire |
| Premium | $11,983/yr |
Maybe the biggest factor for what you will pay is the insurance company that you choose. For truck insurance, it’s the norm for prices to vary by thousands of dollars for the same trucker! Sometimes the difference can even be over $10,000 for the same operation.
You can’t control how long you’ve been in business, but you can control what insurance company you choose.
It makes sense to compare prices. Our service makes it easy to get quotes from different companies, so you can zero in on the best coverage and cost combination for your trucking business. Compare quotes and lower your insurance costs here.
3 Truck Insurance Agents in New Mexico
You need to find agents that specialize in truck insurance to get the right coverage at the best price. We’ve done that and found three of the best truck insurance agents in NM. With three agents quoting your policy you will have much broader access to the entire market of truck insurance companies. The agents will work diligently to earn your business, but only one will become the winner.
Shopping for truck insurance has never been this easy. Don’t waste your time tracking down three agents. Instead, let them come to you. Let’s get started!
Commercial Truck Insurance Companies in New Mexico
Finding the best trucking insurance company in NM for your outfit can save you a lot of money. Some of the insurance providers with the best prices can be hard to find though.
The companies below write 91% of the truck insurance polices in NM.
Top 10 Truck Insurance Companies in NM
- Canal
- Employers Mutual
- Great West
- Hudson
- IAT Insurance Group
- National Casualty Company
- National Indemnity
- Northland
- OOIDA
- Progressive
There are also over a dozen truck insurance carriers in NM that have the remaining 9% marketshare.
You do have choices when it comes to your insurance and we can help you. It’s just a matter of smart comparison shopping to get the best premium.
Compare quotes from different companies here.
Trucking Ins. Coverages
New Mexico and the FMCSA have specific insurance requirements for semis. If you have your own authority, some coverages are mandatory, like primary liability. If you are leased to a motor carrier, you may be looking for physical damage truck insurance, bobtail coverage, and non trucking liability.
No matter what type of coverage your operation needs, you’ll get quotes from three truck insurance brokers. Click on a coverage below to learn more about it, then fill out our short form to get your quotes.
New Mexico Truck Insurance Requirements
New Mexico law requires local truckers and new ventures to maintain a minimum amount of liability insurance. How much you need is determined by the type of freight you transport and where you transport it. If you never take your truck out of state and your truck is over 26,000 GVW, you must get a NMPRC authority number and keep a minimum amount of insurance:
| $300,000 | Liability Insurance (Household Goods) |
| $750,000 | Liability Insurance (General Freight) |
| $1,000,000 | Liability Insurance (Oil Transport) |
| $5,000,000 | Liability Insurance (Hazmat) |
| $50,000/vehicle and $50,000/catastrophe | Cargo Insurance (Intrastate household goods movers and interstate contract carriers) |
The insurance requirements for truck drivers who do cross state lines are a little different. In addition to the above, you must meet all the semi truck insurance requirements laid out by the federal government. Most federal liability limits are $750,000 or $1,000,000.
Both New Mexico and the US Department of Transportation require certain filings be submitted by your insurance agent. Your insurance company knows which forms to send, and they’ll do all the filing for you. These forms inform the government that all your DOT truck insurance requirements are fulfilled. They must be received before your authority can be processed. Some common forms include:
- The BMC-97
- Form MCS-96
- Form E
Specialized Insurance for Owner-Operators in New Mexico
No matter what type of operation you’re running, we’ve got your back. Our agents have access to cheap truck insurance for all of the following operation types:
Handy New Mexico Trucking Resources
New Mexico Department of Transportation
New MexicoDepartment of Motor Vehicles
New Mexico Trucking Association
New Mexico Office of Superintendent of Insurance
Your Operation is Unique
You might be a local or a long hauler. Maybe you’re a new venture or a hotshot. You could be a leased owner operator from Albuquerque or a fleet manager in Las Cruces. Maybe you haul hazardous materials or chile peppers. All that to say, no two trucking companies are alike. Your insurance policies need to be tailored for your exact situation.
Since different truck insurance companies prefer different types of risks, it’s a good idea to shop around and find a company that is competitive with writing insurance for your type of business. The bottom line is that you want cheap truck insurance without sacrificing coverage.
Get 3 Competitive quotes in all New Mexico cities
No matter what city you live in our network of New Mexico insurance brokers are ready to give you a quote. We cover all cities including…
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We also can give you multiple quotes in the neighboring states as well: AZ, CO, UT, OK, TX
