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Cheap Car Insurance in New Mexico (2022)

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Why you can trust Insurify

Insurify is America's highest-rated insurance comparison platform. We partner with the nation's top insurance companies and are licensed as an agent in all 50 states. However, the insurance experts writing our content operate independently of our partners, and you can learn more about how we make money by viewing our advertising disclosures. Also check out reviews from over 3,000 satisfied customers, our data methodology, and our editorial standards.
Lindsay Frankel
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Lindsay Frankel
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Written by
Lindsay Frankel
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Lindsay Frankel is a content writer specializing in personal finance and auto insurance topics. Her work has been featured in publications such as LendingTree, The Balance, Coverage.com, Bankrate, NextAdvisor, and FinanceBuzz.
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Tanveen Vohra
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Tanveen Vohra
Editorial Manager
Tanveen Vohra is an editorial manager at Insurify specializing in writing about property and casualty insurance. Through her work, Tanveen helps consumers better understand the components of their insurance policies so they can make smarter purchase decisions.Tanveen's work has been cited by CNBC , Fox Business, Business Insider, Fortune, and Market Watch, among others.
Amber Benka
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Amber Benka
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Amber Benka is a licensed insurance agent specializing in auto, home, commercial, life, and health insurance.

Updated July 5, 2022

Car Insurance in New Mexico

While auto insurance rates in New Mexico are less expensive than the national average, they can still strain your budget. But since every insurance company will weigh the information in your driving profile differently, you may be able to get cheaper premiums from some insurers than others. Find the cheapest car insurance by comparing customized quotes with Insurify.

See More: Cheap Car Insurance

See More: Cheap Car Insurance No Deposit

Quick Facts

  • The average cost of car insurance in New Mexico is $182 per month, or $2,184 annually.

  • Progressive is the cheapest provider we found in New Mexico, with average premiums of $99 per month.

  • Your rates are determined by factors outside of your location, such as your age and driving record – but by comparing car insurance quotes, you can ensure you find the best rate for your circumstances.

Cheapest Car Insurance in New Mexico

How much is car insurance in New Mexico?

The average cost of car insurance in New Mexico is $182 per month. However, keep in mind that what you pay for car insurance will depend on your age, gender, driving record, credit score, and other factors in your unique driving profile.

Some New Mexico auto insurance companies provide cheaper premiums than others. Quotes vary based on individual information in your driver profile, so a customized quote from Insurify is going to be the most accurate. But if you’re curious about the cheapest companies on average, below are the insurers charging the lowest premiums in New Mexico.

Car Insurance CompanyAverage Monthly Quote
Progressive$99
Kemper Specialty$131
Travelers$133
GAINSCO$133
Midvale Home & Auto$139
Dairyland$149
Kemper$160
Acuity$167
Safeco$169
Hallmark$172
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Car Insurance Quotes

Cheapest Liability Auto Insurance in New Mexico

In New Mexico, all drivers are legally required to carry bodily injury liability coverage and property damage liability coverage at the state minimum coverage levels. Minimum liability insurance may not be enough to protect you from a lawsuit and also leaves coverage gaps that could put you in a financially vulnerable position if you cause a car accident.

However, purchasing only liability coverage is the cheapest way to stay legal on the road. Below are the car insurance providers offering the cheapest premiums for liability insurance to New Mexico drivers, along with their average rates.

Car Insurance CompanyAverage Monthly Quote
Progressive$70
Kemper Specialty$74
GAINSCO$78
Midvale Home & Auto$85
Travelers$89
Dairyland$91
Acuity$93
Kemper$95
Safeco$96
Hallmark$97
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Cheapest Full-Coverage Auto Insurance in New Mexico

A full-coverage car insurance policy typically includes comprehensive coverage and collision coverage in addition to liability coverage. It may also include underinsured or uninsured motorist coverage. Some drivers also like to add additional coverages to their insurance policy, like roadside assistance.

With a full-coverage insurance policy, you’ll have a deductible, which is your share of the financial responsibility. Full-coverage insurance can also double your rates, but in most cases, it’s worth it for the financial protection. Here’s what drivers pay each month, on average, for the cheapest full-coverage car insurance in New Mexico.

Car Insurance CompanyAverage Monthly Quote
Progressive$116
Travelers$149
Midvale Home & Auto$159
Acuity$176
GAINSCO$180
Kemper Specialty$187
Safeco$195
Dairyland$202
Nationwide$213
The General$217
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Best Car Insurance in New Mexico

Cost isn’t the only important factor when selecting an insurance provider. You’ll want to make sure you choose a company that can provide reliable customer service and has the financial strength to pay claims. That’s why we’ve reviewed a variety of data to generate the Insurify Composite Score for the top insurance providers in New Mexico.

A high score indicates positive findings in customer satisfaction and several other important variables. Once you receive your customized quotes, you can check the Insurify Composite Score for the companies with the cheapest premiums before making your decision.

Car Insurance CompanyICSThe Insurify Composite Score is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company. Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.Average Monthly Quote
Nationwide89$206
Safeco86$169
Liberty Mutual82$193
Travelers80$133
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Best Car Insurance Companies

Insurify Composite Score

The Insurify Composite Score is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

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New Mexico Car Insurance Rates by Driving and Accident History

The cost of your auto insurance policy will depend on several individual factors, including your driving record. High-risk drivers will pay higher premiums than drivers with a clean driving record. Even a simple speeding ticket can raise your rates significantly. Here’s what drivers pay in New Mexico, on average, with each type of infraction.

InfractionAverage Monthly Cost
Clean Record$146
DUI$173
At-Fault Accident$205
Speeding Ticket$194
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: High-Risk Car Insurance New Mexico

Cheap Car Insurance for Good Drivers in New Mexico

Safe driving has its advantages when it comes to cost as well as safety. Good drivers in New Mexico pay lower insurance premiums on average than people with infractions on their records. Below are the cheapest auto insurance companies offering the best rates to drivers with a clean record in the Land of Enchantment.

Car Insurance CompanyAverage Monthly Quote
Progressive$95
Midvale Home & Auto$120
Kemper Specialty$121
GAINSCO$125
Travelers$126
Dairyland$138
The General$156
Safeco$156
Hallmark$156
Bristol West$161
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Cheap Car Insurance for Drivers with DUI in New Mexico

A DUI is a serious offense that typically results in a driver’s license suspension, a fine, and sometimes jail time. And once you’re legally allowed back on the road, you’ll pay more for a car insurance policy. Here are the average rates you can expect from the cheapest car insurance providers for people with DUIs.

Car Insurance CompanyAverage Monthly Quote
Progressive$119
Kemper Specialty$127
Dairyland$143
GAINSCO$146
Travelers$151
Kemper$157
Liberty Mutual$157
Safeco$165
Midvale Home & Auto$168
Bristol West$177
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

SR-22 Insurance in New Mexico

New Mexico is one of the few states that does not require an SR-22 to be filed for driver’s license reinstatement after certain infractions. In many states, if your license is suspended due to a DUI or other offense, your insurance company must file an SR-22 with the DMV on your behalf before you can drive a motor vehicle again.

Typically, insurance companies charge higher premiums to drivers who require an SR-22. But in New Mexico, an SR-22 isn’t required. You just need to have a liability insurance policy that meets the state minimum requirements to drive legally after your license is reinstated.

Cheap Car Insurance for Drivers with an At-Fault Accident in New Mexico

At-fault accidents affect car insurance premiums more than any other infraction in New Mexico. That’s because an accident on your record indicates to your insurance company that you’re at a greater risk for a crash. Here’s what drivers pay on average for insurance coverage after an at-fault accident in New Mexico.

Car Insurance CompanyAverage Monthly Quote
Progressive$116
Acuity$142
Travelers$146
Kemper Specialty$176
GAINSCO$180
Dairyland$205
Kemper$206
Safeco$211
Midvale Home & Auto$228
Bristol West$235
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Cheap Car Insurance for Drivers with Speeding Tickets in New Mexico

A speeding ticket shows your insurance company that you’re not always taking precautions on the road. As a result, you’ll be charged higher rates for car insurance if you have a speeding ticket on your record. Here’s what drivers pay, on average, for car insurance coverage after a speeding ticket.

Car Insurance CompanyAverage Monthly Quote
Progressive$109
GAINSCO$148
Travelers$161
Kemper Specialty$161
Dairyland$184
Midvale Home & Auto$186
Kemper$190
Safeco$203
Bristol West$204
Hallmark$216
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

New Mexico Car Insurance Rates by Credit Tier

Your credit score is used to calculate your car insurance rates in New Mexico. According to insurers, credit score is an indicator of risk, with historical data showing a correlation between worse credit scores and a higher tendency to file claims. As such, New Mexico drivers with better credit scores tend to pay less for car insurance. Check out how much each credit tier pays for car insurance on average.

Credit TierAverage Monthly Quote
Excellent$256
Good$273
Average$318
Poor$396
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

See More: Bad Credit Car Insurance New Mexico

New Mexico Car Insurance Rates by Driver Age

Young drivers are considered a higher risk to insure because they have less experience on the road. In fact, teen drivers are at a greater risk of a crash than any other age group. That’s why car insurance rates generally decrease with age in New Mexico, though elderly drivers may pay slightly more than drivers in their 60s. Here’s what you can expect based on your age.

Age GroupAverage Monthly Rate
Teenagers$339
Under 25$269
20s$197
30s$144
40s$148
50s$132
60s$126
70s$139
80+$150
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Car Insurance Rates in New Mexico Cities

Your address of residence is another factor that impacts your car insurance premiums. That’s because the risk of an accident or theft is higher in some areas than in others. For example, busy cities with lots of traffic create more opportunities for collisions. Here are the average rates drivers pay each month in some of New Mexico’s major cities.

CityAverage Monthly Quote
Albuquerque$185
Las Cruces$138
Santa Fe$142
Rio Rancho$184
Roswell$137
Hobbs$163
Los Lunas$162
Clovis$153
Carlsbad$149
Farmington$121
Alamogordo$104
Deming$91
Las Vegas$147
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

New Mexico Driving Facts

Every state has minimum insurance requirements, and New Mexico is no exception. Additionally, all drivers in New Mexico will have to visit their local DMV and may at some point need to rely on public transportation. The following sections break down minimum insurance requirements, DMV services, and public transit options in New Mexico.

Minimum Car Insurance Requirements in New Mexico

All motor vehicles operated or parked on New Mexico roadways are required to be insured. Proof of insurance must be carried in your car at all times and must be available when:

  • Requested by law enforcement

  • Renewing vehicle registration

  • The vehicle is involved in a car accident

The minimum liability insurance requirements for private passenger vehicles in New Mexico[1] are:

  • $25,000 per person for bodily injury

  • $50,000 per accident for bodily injury

As a major part of your liability insurance, bodily injury coverage covers medical bills for people other than the policyholder who are injured during an accident. New Mexico is an at-fault state, meaning the driver who is responsible for the collision is also responsible for paying for any resulting expenses, either through their car insurance provider or out of pocket.

  • $10,000 per accident for property damage

If it’s determined that an insured driver is at fault for an accident, this coverage pays for repairs to the property of the other involved parties. Additionally, property damage coverage can cover legal costs if the insured driver is involved in a lawsuit following the accident.

New Mexico DMV Information

The New Mexico Motor Vehicle Division (MVD) offers many services that can be completed online, including driver’s license and registration renewals, citation payments, placard renewals, and more. Based in Santa Fe, the MVD operates 32 field offices and 39 local offices across the state, so you can get in-person services near where you live.

Public Transportation in New Mexico

The largest transit agency in the state is ABQ RIDE, which provides bus service to the Albuquerque area. Many other cities and counties have their own transit systems, but some areas aren’t served by public transportation at all. Just over 1 percent of New Mexico residents rely on public transportation to get to work—most people get around by car.

How to Get the Cheapest Car Insurance in New Mexico

The easiest way to get the cheapest car insurance in New Mexico is to compare customized insurance quotes with Insurify. You won’t need to make a spreadsheet with individual quotes or get help from a broker. You’ll just need to answer a few questions about your vehicle and driving history, and Insurify will show you multiple quotes for easy comparison.

You can toggle between coverage limits and adjust your deductible amount to see how your rates are impacted, allowing you to compare policies apples-to-apples. We’ll even factor in certain discounts you may be eligible for. And when you’re ready to sign up for a policy, you can do so in a few minutes from the comfort of your couch.

Frequently Asked Questions: Cheap Car Insurance in New Mexico

  • Yes. New Mexico drivers are required to carry the state minimum levels of bodily injury liability coverage and property damage liability coverage. If you’re caught driving uninsured, your driver’s license will be suspended, and you could be fined $300 or spend up to 90 days in jail.

  • The best way to find cheap car insurance in New Mexico is to compare rates across providers since some companies may offer lower premiums than others. Insurify makes it easy to compare multiple quotes in just a few minutes, so you won’t have to spend hours doing research or hire a broker.

  • The average cost of car insurance in New Mexico is $182 per month, but your individual rate will vary based on factors such as your age, driving record, address, and more. That’s why it’s important to compare premiums across multiple car insurance providers.

  • Car insurance rates are highest for young drivers and those with at-fault accidents in New Mexico. Other infractions can also drive up car insurance rates.

  • No. Personal injury protection (PIP) is not required or available in New Mexico. However, you may opt to add medical payments coverage to your policy, which helps cover your medical bills after an accident you cause.

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.

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  • Data scientists at Insurify analyzed over 40 million auto insurance rates across the United States to compile the car insurance quotes, statistics, and data visualizations displayed on this page. The car insurance data includes coverage analysis and details on drivers' vehicles, driving records, and demographic information. With these insights, Insurify is able to offer drivers insight into how their car insurance premiums are priced by companies.

Sources

  1. New Mexico Motor Vehicle Department. "State Minimum Car Insurance Requirements." Accessed May 28, 2022
Lindsay Frankel
Written by
Lindsay Frankel

Insurance Writer

Lindsay Frankel is a content writer specializing in personal finance and auto insurance topics. Her work has been featured in publications such as LendingTree, The Balance, Coverage.com, Bankrate, NextAdvisor, and FinanceBuzz.

Learn More
Tanveen Vohra
Edited by
Tanveen Vohra
Linkedin

Editorial Manager

Photo of an Insurify author
Edited by
Tanveen Vohra
Editorial Manager
Tanveen Vohra is an editorial manager at Insurify specializing in writing about property and casualty insurance. Through her work, Tanveen helps consumers better understand the components of their insurance policies so they can make smarter purchase decisions.Tanveen's work has been cited by CNBC , Fox Business, Business Insider, Fortune, and Market Watch, among others.
Amber Benka
Reviewed by
Amber Benka

Licensed Insurance Agent

Icon of a woman
Reviewed by
Amber Benka
Licensed Insurance Agent
Amber Benka is a licensed insurance agent specializing in auto, home, commercial, life, and health insurance.