New Mexico § 66-5-301 - Insurance against uninsured and unknown motorists; rejection of coverage by the insured

§ 66-5-301. Insurance against uninsured and unknown motorists; rejection of coverage by the insured

A. No motor vehicle or automobile liability policy insuring against loss resulting

from liability imposed by law for bodily injury or death suffered by any person and

for injury to or destruction of property of others arising out of the ownership, maintenance

or use of a motor vehicle shall be delivered or issued for delivery in New Mexico

with respect to any motor vehicle registered or principally garaged in New Mexico

unless coverage is provided therein or supplemental thereto in minimum limits for

bodily injury or death and for injury to or destruction of property as set forth in Section 66-5-215 NMSA 1978 and such higher limits as may be desired by the insured, but up to the limits of

liability specified in bodily injury and property damage liability provisions of the

insured's policy, for the protection of persons insured thereunder who are legally

entitled to recover damages from owners or operators of uninsured motor vehicles because

of bodily injury, sickness or disease, including death, and for injury to or destruction

of property resulting therefrom, according to the rules and regulations promulgated

by, and under provisions filed with and approved by, the superintendent of insurance. B. The uninsured motorist coverage described in Subsection A of this section shall

include underinsured motorist coverage for persons protected by an insured's policy. For the purposes of this subsection, “underinsured motorist” means an operator of

a motor vehicle with respect to the ownership, maintenance or use of which the sum

of the limits of liability under all bodily injury liability insurance applicable

at the time of the accident is less than the limits of liability under the insured's

uninsured motorist coverage. No motor vehicle or automobile liability policy sold in New Mexico shall be required

to include underinsured motorist coverage until January 1, 1980. C. The uninsured motorist coverage shall provide an exclusion of not more than the

first two hundred fifty dollars ($250) of loss resulting from injury to or destruction

of property of the insured in any one accident. The named insured shall have the right to reject uninsured motorist coverage as

described in Subsections A and B of this section; provided that unless the named

insured requests such coverage in writing, such coverage need not be provided in or

supplemental to a renewal policy where the named insured has rejected the coverage

in connection with a policy previously issued to him by the same insurer.