OPINION
{1} We accepted certification in this case from the United States District Court for the District of New Mexico to resolve the question of whether an uninsured motorist policy is an accident policy within the meaning of NMSA 1978, § 42-10-3 (1937) such that proceeds from the uninsured motorist policy are exempt from attachment. This question arises out of a bankruptcy proceeding in which the Bankruptcy Trustee objected to an exemption claimed by Cecilia Portal (Debtor) for the proceeds from an uninsured motorist policy. This Court has jurisdiction under NMSA 1978, § 39-7-4 (1997) and Rule 12-607 NMRA 2002. We conclude that Section 42-10-3 provides an exemption for such proceeds as uninsured motorist insurance qualifies as “accident” insurance and, thus, is within the scope of the statutory language.
I.
{2} Debtor and Trustee stipulated to the following facts. Debtor was injured in an automobile accident. At that time, Debtor had uninsured motorist coverage in the amount of $25,000. She retained an attorney to pursue her claims against her insurer for past and future medical expenses, past and future lost wages, and pain and suffering. She secured medical treatment for her injuries through letters of protection issued by her attorney to her medical providers. However, Debtor has chosen to defer further medical treatment until this issue is resolved.
{3} Before resolution of her insurance claims, Debtor filed a Chapter 7 bankruptcy petition. In the petition she selected the state exemption scheme, under which she scheduled and claimed an exemption for the anticipated proceeds from her uninsured motorist policy. Debtor claimed the exemption simply as “proceeds” from the policy. Debt- or’s insurance company disputes her entitlement to the $25,000 policy limit. Because the compensation for each of her claims will be decided in her case against the insurance company, Debtor waived the right in the bankruptcy proceeding to argue the necessity of the exemption based on compensation for specific injuries, such as lost wages or actual bodily injury. Trustee objected to the claimed exemption and reserved the right to seek avoidance of any lien created by the letters of protection. The District Court certified to this Court the question of whether Section 42-10-3 permits Debtor’s claimed exemption in her uninsured motorist insurance proceeds.
II.
{4} Debtor argues that the plain language of Section 42-10-3 permits the exemption of monies derived from an uninsured motorist policy because the policy qualifies as an “accident” policy. Debtor contends that exemption statutes are to be liberally construed and allowing the exemption of proceeds of uninsured motorist insurance conforms with the public policy underlying the uninsured motorist insurance statute. See NMSA 1978, § 66-5-301 (1983); see also Fasulo v. State Farm Mut. Auto. Ins. Co.,
{5} “In interpreting a statute, a court not only looks to the plain meaning of the language employed, but also to the object of the legislation.” Dona Ana Sav. & Loan Ass’n, F.A. v. Dofflemeyer,
{6} Section 42-10-3 provides:
The cash surrender value of any life insurance policy, the withdrawal value of any optional settlement, annuity contract or deposit with any life insurance company, all weekly, monthly, quarterly, semiannual or annual annuities, indemnities or payments of every kind from any life, accident or health insurance policy, annuity contract or deposit heretofore or hereafter issued upon the life of a citizen or resident of the state of New Mexico, or made by any such insurance company with such citizen, upon whatever form and whether the insured or the person protected thereby has the right to change the beneficiary therein or not, shall in no case be liable to attachment, garnishment or legal process in favor of any creditor of the person whose life is so insured or who is protected by said contract, or who receives or is to receive the benefit thereof, nor shall it be subject in any other manner to the debts of the person whose life is so insured, or who is protected by said contract or who receives or is to receive the benefit thereof, unless such policy, contract or deposit be taken out, made or assigned in writing for the benefit of such creditor.
Clearly, Section 42-10-3 permits exemptions for certain funds, such as life insurance and annuities. See Albuquerque Nat’l Bank v. Zouhar (In re Zouhar),
{7} “The language of [Section 42-10-3] is broad and expansive. It does not limit the type of payment, form of payment, or person to receive the payment.” Finch v. Schrock (In re Schrock),
{8} “Unless a word or phrase is defined in the statute or rule being construed, its meaning is determined by its context, the rules of grammar and common usage.” NMSA 1978, § 12-2A-2 (1997). We are not aware of any statute which defines “accident.” In common usage, an accident is “[a]n event that is without apparent cause or unexpected; an unfortunate event, [especially] one causing injury or damage.” 1 New Shorter Oxford English Dictionary 13 (1993). This Court defined “accident” in Britt v. Phoenix Indemnity Insurance Co.,
{9} We do not find it a far stretch of logic to conclude that a policy which provides insurance coverage specifically for accidents be deemed an “accident” policy. Nor are we persuaded that this construction of the statute creates an exemption for which the statute does not provide, as argued by Trustee. The plain language of the statute facially provides an exemption for the debtor who is the beneficiary of proceeds from an accident policy; uninsured motorist policy proceeds are the contractual benefits for which the insured has paid in the event of an accident with an uninsured driver.
{10} Bankruptcy courts in both Texas and Tennessee have given the same construction to similar state exemption statutes. See In re Thompkins,
There shall be exempt from the claims of all creditors, and from execution, attachment, or garnishment, any sum or sums of money which may hereafter become due and payable to any person, who is a resident and citizen of this state, from any insurance company or other insurer, under the terms and provisions of any contracts of accident, health, or disability insurance insuring the assured against loss by reason of accidental personal injuries, or insuring said assured against loss by reason of physical disability resulting from disease.
Tenn.Code Ann. § 26-2-110(a) (1980). The court concluded that uninsured motorist insurance was “accident” insurance, as viewed from the perspective of the insured victim, of which the insureds were the “beneficiaries.” Thompkins,
{11} We find this reasoning applicable to our own statutory scheme. The purpose of bankruptcy and New Mexico’s statutory exemptions is to give a debtor a fresh start. See Zouhar,
III.
{12} Our interpretation of the plain language of Section 42-10-3 comports with the public policy underlying exemption statutes to prevent destitution for the debtor from unforeseeable indebtedness. See Zouhar,
{13} IT IS SO ORDERED.
Notes
. As quoted in Hosek, the 1991 Texas statute provided:
No money or benefits of any kind to be paid or rendered to the insured or any beneficiary under any policy of insurance issued by a life, health, or accident insurance company, including mutual and fraternal insurance, or under any plan or program of annuities and benefits in use by any employer, shall be liable to execution, attachment, garnishment or other process to be seized, taken or appropriated or applied by any legal or equitable process or operation of law to pay any debt or liability of the insured or of any beneficiary, either before or after said money or benefits is or are to be paid or rendered, except for premiums payable on such policy or a debt of the insured secured by a pledge thereof.