Yes. The diminished value of your vehicle is recoverable in the state of New Mexico in third party cases and under your own policy’s Uninsured Motorist Coverage.
Is it mandatory for motorists to carry liability insurance in New Mexico?
Yes. You must carry liability insurance in New Mexico. Your insurance must include coverage of at least $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $10,000 per accident for property damage.
Do you handle diminished value claims in New Mexico?
Yes. Although we are based in Texas, our services are available across the United States including New Mexico.
New Mexico Diminished Value Claims Information:
Statute of Limitations – 4 Years from the date of the accident.
From the at-Fault Party’s Insurance Company – Yes
Under your own policy’s Uninsured Motorist Coverage – Yes