Cheap Auto Insurance in New Mexico (2024)

State Farm offers the cheapest car insurance in New Mexico. Liability rates start at $31 per month.

Nick Dauk
Written byNick Dauk
Nick Dauk
Nick Dauk
  • 6+ years writing about insurance, travel, and personal finances

  • Contributor to brands like Credible

In addition to insurance, Nick specializes in writing about business, entrepreneurship, personal finance, and travel. He’s been featured in myriad web publications, including Fox Business.

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Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

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Updated July 11, 2024

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Cheapest recent rates in New Mexico

Drivers using Insurify have found quotes as cheap as $31/mo for liability only and $63/mo for full coverage in New Mexico.

*Quotes generated for Insurify users from New Mexico within the last 10 days. Last updated on July 11, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from July 11, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users from New Mexico within the last 10 days. Last updated on July 11, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from July 11, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

Car insurance costs have been rising in New Mexico, and now average $191 per month for full coverage and $69 for minimum coverage. Still, rates in the Land of Enchantment are well below the national averages of $214 for full coverage and $105 for minimum coverage.

Car insurance rates rose more than 38% in New Mexico during 2023, likely a result of a surge in the state's accident frequency and severity, a high number of uninsured drivers, and the escalating costs of repairs.  

With more rate increases likely on the way, it’s more important than ever to compare car insurance rates to ensure you’re securing an affordable rate. Plenty of car insurance companies across New Mexico offer a variety of discounts, telematics tools, and bundling options that can lower your rates — even if you have at-fault accidents, speeding tickets, and DWI convictions on your driving record.

Quick Facts
  • New Mexico’s average cost of liability insurance is 23% lower than the national average.

  • DWI convictions in New Mexico stay on your record for 55 years.[1]

  • New Mexico has the fourth-highest percentage of uninsured drivers, at 21.8%, according to the Insurance Research Council.

3 of the cheapest car insurance companies in New Mexico

Finding the cheapest car insurance companies in New Mexico is a good start, but you must also compare their rates with features like coverage options, discounts, and customer service. You may discover that the best insurer for you is the one that caters to your individual situation and needs, even if it doesn’t have the overall cheapest rate.

Insurance CompanyIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Full CoverageLiability OnlyBest For
Progressive8.4$134$67Drivers with speeding tickets
Allstate8.9$124$62Families
Midvale Home & AutoN/A$125$56Teens and students
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Best insurer for drivers with a speeding ticket: Progressive

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JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
819
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.4/10
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$67/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$134/mo

Founded in 1937, Progressive is one of the largest car insurance companies in the country. Policyholders can save with multiple bundling discounts for auto, home, renters, motorcycles, and other insurance. Additional Progressive savings include multi-car, good student, and paperless statement discounts.

Progressive offers affordable rates for divers with a speeding ticket on record. Progressive’s Snapshot Road Test program could also help drivers lower their rates by tracking driving habits and rewarding safe behavior with discounts. AM Best rated Progressive A+ (superior) for financial stability. However, 92% of Progressive's ratings on Trustpilot are 1-star ratings, and customers have made numerous negative comments on the ratings website.

Pros
  • Competitive rates for drivers with speeding tickets, at-fault accidents, or DUIs on record

  • Numerous discounts, from bundling to safe driver savings

Cons
  • Rates may go up after using Snapshot Road Test depending on driving patterns

  • Below-average J.D. Power customer satisfaction rating in the Southwest region

Read more driver reviews of Progressive
Susan - July 7, 2024
Verified

Too expensive

I believe they charge way too much considering my excellent driving record, minimal daily mileage, zero accidents, and senior citizen status.

Rose - July 7, 2024
Verified

Unsatisfied with Progressive

I had Progressive and they kept raising my rates, even though I had no claims, no tickets, and was a gold status member for 3 years.

Debra - July 7, 2024
Verified

Great for the past ten years but no forgiveness for minor accident

Everything was great until I had a minor accident.

Best insurer for families: Allstate

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User Reviews
3.2
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.9/10
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$62/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$124/mo

Allstate, founded in 1931 by Chicago retail giant Sears, Roebuck and Co., offers numerous insurance products, including auto, home, condo, pet, travel, and term life coverage. The insurer offers multiple discounts, including savings for bundling, good students, multiple policies, safe driving, and new vehicles.

Affordable rates for teen drivers, coverage in all 50 states plus Washington, D.C., and the option to bundle various types of insurance make Allstate one of the cheapest car insurers for families. The company has a superior rating from AM Best for financial strength but has a higher-than-average number of customer complaints on consumer review sites.

Pros
  • Financially stable with superior credit rating from AM Best

  • Numerous bundling options with discounts on the coverages families need 

Cons
  • Slow claims resolution, according to customer reviews on Trustpilot

  • High number of customer complaints on the National Association of Insurance Commissioners (NAIC) Consumer Complaint Index

Read more driver reviews of Allstate
Robert - July 7, 2024
Verified

Good

No claims, no tickets, but pricing is rising faster than inflation.

James - July 7, 2024
Verified

Excellent Insurance for the Money

Very good.

Tina - July 7, 2024
Verified

High Monthly Payments

I would recommend looking around to see if you can find a cheaper policy. Mine seems to be quite high.

Best insurer for teenagers and students: Midvale Home & Auto

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A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.0/10
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$56/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$125/mo

Backed by the financial strength of American Family Insurance, Midvale Home & Auto offers auto, home, renters, and condo insurance in addition to liability, comprehensive, and collision insurance. Additional coverages include gap insurance, emergency roadside assistance, and rental reimbursement.

Midvale Home & Auto earned an Excellent (A) rating from AM Best for financial strength. However, the company has a slightly above-average number of customer complaints with the National Association of Insurance Commissioners complaint index.

Pros
  • Away at School discount for young drivers attending school without a car 100 miles or more away from home

  • Students are eligible for a discount for earning good grades

Cons
  • Unable to request a quote online and must speak with an agent

  • Bare-bones website and no mobile app

How to get the cheapest car insurance in New Mexico

Comparing quotes is the best way to get the cheap car insurance rates in New Mexico. A highly saturated industry means constant competition. You might have the cheapest rate one year then discover that new rates, discounts, or incentives from another insurer may benefit you more.

Here are other ways you can lower your rate as soon as your next premium is due:

  • Reconsider coverage. If your vehicle is worth less than 10 times your annual premium, you can remove some add-ons, like full-coverage auto insurance.

  • Increase your deductible. You’ll have to pay more when filing a claim, but a higher deductible for collision and comprehensive leads to lower premiums.

  • Look for car insurance discounts. Auto insurance companies offer discounts for driving accident-free for a certain period, being a student and earning good grades, having vehicle safety features, and taking an approved defensive driving course.

  • Bundle policies. If you need another insurance product, like home insurance or renters insurance, you can buy multiple policies with one insurer for a discount.

  • Compare quotes. One of the best ways to get lower rates is to request quotes from different companies and compare them. Then, you can choose the insurer with the best option for you.

Cheapest liability-only car insurance in New Mexico: State Farm

When you see the cheapest car insurance policies available in New Mexico, many of them will likely be liability-only policies. Liability-only car insurance provides the bare-minimum coverage state law requires. A liability-only policy covers bodily and property damage liability in most states, including New Mexico.

In New Mexico, liability-only insurance costs an average of $69 per month. Here are the cheapest car insurance companies for liability insurance in New Mexico.

The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT
Insurance CompanyAverage Monthly Quote
State Farm$31
USAA$38
GEICO$39
National General$54
Midvale Home & Auto$56
The General$59
Hallmark$60
Allstate$62
Progressive$67
Farmers$74
Nationwide$76
Dairyland$76
Safeco$77
GAINSCO$84
Bristol West$85
Foremost$103
Liberty Mutual$115
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest full-coverage car insurance in New Mexico: State Farm

Whereas liability-only insurance provides a low level of coverage, full-coverage car insurance policies can provide coverage beyond property and bodily liability. The biggest difference: Liability coverage pays for damages you cause others, while full coverage covers damages you incur.

The best car insurance companies throughout New Mexico may define full coverage differently. Many may offer full-coverage policies that combine liability insurance with collision and comprehensive insurance. Others may add onto this by also providing personal injury protection (PIP) or uninsured/underinsured motorist coverage.

New Mexico drivers pay, on average, $191 per month for full coverage. The table below shows the cheapest full-coverage auto insurance companies in New Mexico.

The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT
Insurance CompanyAverage Monthly Quote
State Farm$63
USAA$76
GEICO$78
Allstate$124
Midvale Home & Auto$125
Progressive$134
Safeco$141
Farmers$149
National General$149
Nationwide$151
The General$151
Hallmark$156
Dairyland$186
GAINSCO$208
Liberty Mutual$237
Bristol West$249
Foremost$288
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest recent rates in New Mexico

Drivers using Insurify have found quotes as cheap as $31/mo for liability only and $63/mo for full coverage in New Mexico.

*Quotes generated for Insurify users within the last 10 days. Last updated on July 11, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from July 11, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users within the last 10 days. Last updated on July 11, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from July 11, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

Car insurance requirements in New Mexico

New Mexico is an at-fault state, which means that the driver most at fault is responsible for paying the other parties’ damages. The New Mexico Tort Claims Act is also in effect, which specifies when a driver can seek payment for damages from government employees who are at fault in an accident.

State law only requires drivers to have bodily injury and property damage liability coverages. This state minimum coverage for New Mexico residents will be met with a liability-only policy from any New Mexico insurer.

New Mexico requires the following coverages and limits for drivers:[2]

CoverageMinimum Requirements
Bodily injury liability
  • $25,000 per one person per accident
  • $50,000 per two or more people per accident
Property damage liability
  • $10,000 per accident

New Mexico requires liability insurance, but it’s not the only type of insurance available. No matter if you live in Las Cruces or Albuquerque, It’s a good idea to consider optional, additional coverages that protect against other types of bodily and property damage, including:

  • illustration card https://a.storyblok.com/f/162273/x/169fdfde11/liability-coverage.svg

    Collision insurance

    This pays for damages when you collide with another vehicle, or an object like a tree or light pole, even if you’re at fault. Collision also covers rollover accidents.

  • illustration card https://a.storyblok.com/f/162273/x/665da91bf7/comprehensive-coverage.svg

    Comprehensive insurance

    This pays for non-collision damages, like when your car is damaged in a flood, fire, theft, falling objects, severe weather, or through vandalism.

  • illustration card https://a.storyblok.com/f/162273/x/f2ca9fa443/protection-for-passengers.svg

    Personal injury protection

    This covers injuries and medical bills for you and your passengers.

  • illustration card https://a.storyblok.com/f/162273/x/5285c4cd74/uninsured-or-underinsured-motorist-coverage.svg

    Uninsured or underinsured motorist coverage

    When an at-fault driver has no insurance or not enough insurance to pay for your damages and medical expenses, this insurance can help cover costs.

Cheapest car insurance for drivers with an incident

Speeding tickets, at-fault accidents, and driving while intoxicated (DWI) convictions may be quite different in scope and severity, but they’re all incidents that could raise your insurance rates. If you have a spotty driving record, it’s crucial to find affordable, cheap car insurance while you work on driving safely and waiting for some of those violations to fall off your record, if they ever do.

Find Car Insurance in New Mexico

Rates start at $39 for drivers with moving violations on their records

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Cheapest car insurance for drivers with a speeding ticket: State Farm

Compared to many other states, New Mexico’s roadways have higher speed limits on average, especially around major cities like Albuquerque and Santa Fe.[3] Even though you can get a speeding ticket even if you don’t cause an accident, speed is still a factor in many fatal car accidents.[4] Insurers view speeding as irresponsible driving, which is why they raise rates when drivers receive speeding tickets.

On average, speeding tickets boost New Mexico insurance rates to $41 for liability coverage. By contrast, drivers with a clean record pay an average of $69 per month. Here are cheap liability-only car insurance quotes for New Mexico drivers with a speeding ticket to start your search, according to Insurify data.

The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT
Insurance CompanyClean RecordWith Ticket
State Farm$31$41
USAA$38$50
GEICO$39$52
National General$54$71
Midvale Home & Auto$56$77
The General$59$79
Hallmark$60$79
Allstate$62$82
Progressive$67$89
Farmers$74$97
Nationwide$76$101
Dairyland$76$101
Safeco$77$103
GAINSCO$84$122
Bristol West$85$112
Foremost$103$149
Liberty Mutual$115$167
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for drivers with an at-fault accident: State Farm

New Mexico has had a higher motor vehicle traffic crash death rate than the United States average since at least 1999.[5] Even though not all accidents result in death or even injury, many insurers will raise a policyholder’s rate after a single car accident. Many drivers are responsible and make minimal mistakes, which is why some insurers offer accident forgiveness programs.

The average cost of car insurance in New Mexico with an at-fault accident is $69 per month. The following table shows examples of what top insurers charge for minimum-coverage car insurance following an at-fault accident in New Mexico.

The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT
Insurance CompanyClean RecordWith Accident
State Farm$31$44
USAA$38$54
GEICO$39$55
National General$54$77
Midvale Home & Auto$56$84
The General$59$85
Hallmark$60$82
Allstate$62$88
Progressive$67$96
Farmers$74$104
Nationwide$76$109
Dairyland$76$108
Safeco$77$106
GAINSCO$84$115
Bristol West$85$119
Foremost$103$158
Liberty Mutual$115$177
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for drivers with a DWI: State Farm

With alcohol being involved in approximately 40% of fatal crashes, drinking and driving is an extremely dangerous behavior, which is why insurers penalize drivers with DWI convictions. In New Mexico, a DWI will stay on your record for 55 years, which will almost certainly continue to affect your car insurance rates no matter how clean you keep your record otherwise.[1]

New Mexico drivers with DUI convictions face an average monthly rate of $123 for liability-only car insurance. Keep in mind, it may be difficult to find insurers willing to extend coverage to you following a DUI conviction. Here are average monthly liability quotes for the lowest rates drivers may get after a DWI conviction in New Mexico.

The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT
Insurance CompanyClean RecordWith DWI
State Farm$31$54
USAA$38$66
GEICO$39$68
National General$54$94
Midvale Home & Auto$56$97
The General$59$102
Hallmark$60$104
Allstate$62$108
Progressive$67$116
Farmers$74$129
Nationwide$76$132
Dairyland$76$132
Safeco$77$134
GAINSCO$84$146
Bristol West$85$148
Foremost$103$179
Liberty Mutual$115$200
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for seniors: State Farm

Many drivers see rates decrease around age 35, but car insurance rates tend to increase around age 70. Companies raise rates for seniors because they may experience changes in response time, cognition, vision, and confidence as they age. And older drivers get into accidents more frequently than drivers aged 30 to 60.[6]

On average, liability-only coverage costs $48 per month for senior drivers in New Mexico. The average for full coverage is $132. These insurers offer the lowest average monthly rates for senior drivers in New Mexico.

The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT
Insurance CompanyLiability OnlyFull Coverage
State Farm$22$45
GEICO$28$57
USAA$28$56
Midvale Home & Auto$39$87
National General$39$106
Hallmark$42$109
The General$44$113
Progressive$44$87
Allstate$46$91
Nationwide$52$103
Farmers$53$106
Dairyland$56$136
Safeco$58$106
Bristol West$62$182
GAINSCO$64$158
Foremost$74$206
Liberty Mutual$85$175
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for teens: State Farm

Although New Mexico generally reported a lower percentage of annual teenage driver deaths compared to many other states in 2020, U.S. teen driving deaths are still disproportionately high compared to other age groups.[7]

Teens and young adults lack driving experience, often distract one another while driving, and can overestimate their driving abilities, which increases accident risks. That’s why teen drivers often pay more for car insurance.

Michael DeLong, research and advocacy associate at Consumer Federation of America, suggests that young drivers consider taking defensive driving courses to get the cheapest car insurance rates.

“For high school and college-aged teens looking for cheaper auto insurance, shop around and get quotes from a bunch of different insurers,” he says. “That will also help you get a better deal.”

Full-coverage car insurance costs a monthly average of $374 for New Mexico teens. These are the cheapest auto insurance companies for teen drivers in New Mexico.

The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT
Insurance CompanyLiability OnlyFull Coverage
State Farm$55$112
GEICO$65$130
USAA$66$133
The General$100$256
Midvale Home & Auto$101$226
National General$109$300
Hallmark$111$289
Allstate$114$228
Progressive$126$253
Dairyland$133$325
Farmers$136$274
Nationwide$137$271
Bristol West$152$444
GAINSCO$156$386
Safeco$166$304
Foremost$191$535
Liberty Mutual$221$455
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Find Car Insurance in New Mexico

Comparing rates with Insurify could save you up to $717 annually

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New Mexico car insurance quotes by credit tier

Your credit history isn’t the only factor influencing your rates, though many insurers generally offer cheaper rates to those with excellent or good credit scores and more expensive rates to those with bad credit.

By New Mexico law, auto insurers can consider your credit history when determining your rates. But they must send you a letter detailing what negative factors they found in your credit history caused them to decline, cancel, restrict, or quote your policy at a higher rate.[8]

Rates by Credit Tier

Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

New Mexico car insurance FAQs

Compare car insurance rates by state to see how New Mexico’s average rates stack up against the rest of the country. Here are the answers to common questions about car insurance in the state.

  • How much is car insurance in New Mexico?

    The average cost of car insurance in New Mexico is $69 a month for liability-only insurance and $191 a month for full coverage.

  • What company has the cheapest car insurance in New Mexico?

    At an average of $31 per month for liability-only car insurance, State Farm has the cheapest car insurance rates in New Mexico. USAA and GEICO also have cheap rates, at $38 and $39, respectively, for liability car insurance.

  • What are the best car insurance companies in New Mexico?

    Some of the best car insurance companies in New Mexico are State Farm and USAA. These auto insurers have high J.D. Power customer satisfaction ratings in the Southwest region, strong AM Best financial ratings, and high Insurify Quality (IQ) Scores.

    However, the best car insurance company for you will depend on your situation. It’s important to get quotes from multiple insurance companies and see your individual rates to determine which one offers you the best rate for the right coverage.

  • Is car insurance cheaper in New Mexico?

    Compared to neighboring states, yes, New Mexico’s average car insurance costs are cheaper. For example, the average annual cost of car insurance in Nevada is $3,278, while New Mexico’s is $1,561. However, New Mexico's car insurance rates have been rising rapidly over the past year. Drivers should comparison shop for the best rate available to them before renewing a policy with their current company.

  • Is New Mexico a no-fault state?

    No. New Mexico isn’t a no-fault state. Per New Mexico law, the at-fault driver in an accident is responsible for paying for the other parties’ property damages and injuries.[9]

Insurify Insights

How New Mexico Drivers Measure Up

While most drivers know that car insurance quotes are determined in part by your personal driving history, many may be unaware that rates are also impacted by the average risk of the drivers around you as well. Check out Insurify's latest analysis of driving records in New Mexico below:

Methodology

Drawing from an internal database of over 4 million car insurance applications, the research team at Insurify analyzes patterns in car ownership and driver behavior - including how New Mexico drivers measure up to their fellow motorists across the United States in areas including speeding, DUIs, and more.
Insurify Insights publishes data-driven articles, trend analyses, and national rankings each week on all factors related to cars and those who drive them.

ford

Ford F-Series Pickup

Most Popular Car in New Mexico

#33

State with the Most Speeding Tickets Rank

#40

State with the Moving Violations Rank

#24

State with the Most DUIs Rank

#33

State with the most Suspended Licenses

  • While car accidents are a sadly unavoidable feature of time spent on the road, rates of accidents do vary from city to city and from state to state. New Mexico is the #45 state in the country for drivers with an at-fault accident on their driving record.

    • Rank among states: #45
    • Percent of drivers in New Mexico with an accident: 6.2%
  • While driving while intoxicated is never acceptable, it’s a more common offense than many assume. New Mexico is the #24 state in the country for drivers with a prior drunk driving conviction.

    • Rank among states: #24
    • Percent of drivers in New Mexico with a DUI: 1.4%
  • Reckless driving refers to a specific traffic violation: when drivers willfully act dangerously in spite of the risks they’re imposing on both themselves and others. New Mexico is the #45 state in the country for drivers with a reckless driving offense on record.

    • Rank among states: #45
    • Percent of drivers in New Mexico with a reckless driving offense: 0.8%
  • The Insurify team classifies rude drivers as those who commit one or more of the following driving offenses: failure to yield or failure to stop, improper backing, passing where prohibited, tailgating, street racing, or hit-and-run. New Mexico is the #44 state in the country for drivers with a rude driving violation on record.

    • Rank among states: #44
    • Percent of drivers in New Mexico with a rude driving violation: 1%
  • Exceeding the speed limit can endanger others and have a serious impact on your insurance costs. New Mexico is the #33 state in the country for drivers with a speeding ticket on record.

    • Rank among states: #33
    • Percent of drivers in New Mexico with a speeding ticket: 7.7%
  • Failing to yield the right of way isn’t just frustrating for other drivers; it’s dangerous, too. New Mexico is the #32 state in the country for drivers with a failure to yield violation on record.

    • Rank among states: #32
    • Percent of drivers in New Mexico with a failure to yield violation: 0.1%
Insurify Insights

Insurify's team of data scientists and content specialists presents Insurify Insights, a series of automotive, home, and health studies focusing on the topics that impact us all. through expert analysis of over 4 million car insurance applications and an array of top data sources, the Insurify Insights team produces new data-driven articles, trend analyses, regional superlatives, and national rankings every week. See Insurify Insights as featured in Forbes, Fox News, USA Today, NPR, and more.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Motor Vehicle Division New Mexico. "DWI Information."
  2. New Mexico Motor Vehicle Division. "Insurance."
  3. Insurance Institute for Highway Safety. "Maximum posted speed limits."
  4. NHTSA. "Speeding and Aggressive Driving Prevention."
  5. New Mexico Department of Health. "Injury - Motor Vehicle Traffic Crash Deaths."
  6. III. "Senior driving safety and insurance tips."
  7. NHTSA. "Traffic Safety Facts 2020 Data: Young Drivers."
  8. New Mexico Administrative Code. "Title 13 — Insurance."
  9. Nolo. "New Mexico Car Insurance Laws."
Nick Dauk
Nick Dauk

Nick Dauk is a freelance writer specializing in business, entrepreneurship, personal finance, and travel. His work has been featured in Fox Business, BBC, The Edge, Business Insider, and Bisnow. Nick is a first-generation college graduate, having majored in Interdisciplinary Studies at the University of Central Florida. His eclectic coursework, combined with previous managerial roles in the retail and broadcast television industries, have helped him develop an interdisciplinary approach to writing.

For nearly a decade, Nick has created content for mom-and-pop businesses and global corporations. As a travel writer, his global adventures have also been featured on Inside Hook, Houston Chronicle, Culture Trip, and Matador. When he's not traveling, Nick can be found in Orlando spending time with his wife and toddler.

Courtney Mikulski
Edited byCourtney MikulskiSenior Editor, Auto
Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

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