N.M. Stat. § 66-5-218
Alternate methods of giving evidence.
Evidence of financial responsibility, when required under the Mandatory Financial
Responsibility Act, may be given by filing:
A. evidence of a motor vehicle insurance policy;
B. a surety bond as provided in Section 66-5-225 NMSA 1978; or
C. a certificate of deposit of money as provided in Section 66-5-226 NMSA 1978.