To pay all sums which the insured or his legal representative shall be legally entitled to recover as damages from the owner or operator of an uninsured motor vehicle because of:

1. A. bodily injury, sickness or disease, including death resulting therefrom, hereinafter called “bodily injury”, sustained by the insured; or

2. B. injury to or destruction of:

   (1) motor vehicle registered in New Mexico which is owned by the [*] or by his spouse if a resident of the same household, and to which the liability coverage of the policy applies; and

   (2) property owned by the insured which is contained therein, hereinafter called “property damage”;

3. C. when caused by accident and arising out of the ownership, maintenance or use of the uninsured motor vehicle; provided, for the purpose of this endorsement, determination as to whether the insured or such representative is legally entitled to recover such damages, and if so the amount thereof, may be made by agreement between the insured or such representative and the company or, if they fail to agree, by arbitration in accordance with the arbitration provision of this endorsement.

4. D. No judgment against any person or organization alleged to be legally responsible for the bodily injury or property damage shall be conclusive, as between the insured and the company, of the issues of liability of such person or organization or of the amount of damages to which the insured is legally entitled unless the judgment is entered pursuant to an action prosecuted by the insured with the written consent of the company.

   [7/1/97; 13.12.3.13 NMAC - Rn, 13 NMAC 12.3.13, 5/14/04]