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Cheap Auto Insurance Quotes in Albuquerque, NM (May 2022)
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Edited by Tanveen Vohra | Reviewed by licensed insurance agent, Amber Benka
Last Updated February 4, 2022
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Drive safe in ABQ
Car travel is the main mode of transportation for nearly a half a million Albuquerque residents.
That’s why finding the right car insurance policy for you and your lifestyle is a vital step towards safe driving in New Mexico's largest city. Search and save on the best car insurance policies in Albuquerque today.
Quick Facts
- The average cost of car insurance in Albuquerque is $176 per month, or $2112 annually.
- Car insurance in Albuquerque is $20 more than the average cost of car insurance in New Mexico.
- The cheapest car insurance provider in Albuquerque on average is Progressive, but you should always compare quotes to find your best personal rate.
Car Insurance in Albuquerque, NM
The average cost of New Mexico car insurance will vary from city to city and between insurance companies. Insurify analyzed the latest insurance rates in Albuquerque, NM to find you the cheapest quotes in the area.
Quotes by Top Companies
Progressive$35
State Farm$70
Nationwide$120
Travelers$134
The General$160
Cheapest Car Insurance in Albuquerque, NM
The cost of car insurance can vary depending on the insurance provider. That’s because every insurance provider values information like your driving history and your credit score a little bit differently. Although the following car insurance companies offer the cheapest auto insurance premiums on average, it’s always important to compare quotes. Use Insurify to find your best rate today!
| Insurance Provider in Albuquerque | Quotes |
|---|---|
| Progressive | $35 /mo |
| State Farm | $70 /mo |
| Nationwide | $120 /mo |
| Travelers | $134 /mo |
| The General | $160 /mo |
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Best Car Insurance in Albuquerque, NM
The Insurify Composite Score is calculated by analyzing multiple factors that indicate 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, mobile app reviews, and user-generated company reviews. The following are the top rated companies that offer car insurance in Albuquerque. For the complete list, see Insurify's best car insurance companies.
| Best Companies | Score | Quotes |
|---|---|---|
| American Family | 89 | $153 /mo |
| Nationwide | 89 | $232 /mo |
| Safeco | 86 | $191 /mo |
| Liberty Mutual | 82 | $246 /mo |
| Travelers | 80 | $159 /mo |
See More: Best Car Insurance Companies
Average Car Insurance Cost
| New Mexico Cities | |
|---|---|
| Las Cruces | $77/mo |
| Rio Rancho | $119/mo |
| Santa Fe | $99/mo |
| Roswell | $103/mo |
| Albuquerque | $131/mo |
| New Mexico | $106/mo |
Las Cruces$77
Santa Fe$99
Roswell$103
Average for NM$106
Rio Rancho$119
Albuquerque$131
Click here to learn about car insurance quotes and save on your current policy.
Minimum Car Insurance Requirements in NM
The state of New Mexico requires all motor vehicle operators to have proof of insurance available in the car at all times.
The minimum bodily injury liability insurance requirements in New Mexico are:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
Bodily injury liability coverage protects you by paying for the injuries of anyone you harm in an accident. The minimum limits New Mexico state law requires are $25,000 for the injury or death of a single person involved in a car accident and $50,000 for the injury or death of multiple persons. Insurance providers list this coverage at 25/50, stating the limitations of each minimum. In an accident, liability coverage protects you up to the policy limit. Damages above the policy limit of $50,000 are your responsibility.
The minimum property damage liabiltiy insurance requirements in New Mexico are:
- $10,000 property damage liability per accident
Property damage liability coverage pays for any property that you damage in an accident. The state of New Mexico requires $10,000 for the minimum. You’ll see the collective state minimum listed at 25/50/10. The 10 refers to the property damage liability. Once again, any damages above the $10,000 are your responsibility.
Albuquerque Car Insurance Rates by Driver Age
With age comes trusted driving experience, and insurance rates reflect that in Albuquerque. Those in the 20-year-old age bracket have had less time on the road; therefore, they are charged the most: $223 per month on average. Compare that with the average monthly insurance costs of an Albuquerque 70-year-old, and rates decline sharply. This age group pays a monthly average of only $159 to remain on the road.
| Driver's Age | Avg. Monthly Cost |
|---|---|
| teens | $365 |
| 20s | $224 |
| 30s | $167 |
| 40s | $204 |
| 50s | $174 |
| 60s | $172 |
| 70s | $160 |
| 80s | $204 |
Albuquerque Car Insurance Rates by Driving and Accident History
Want the best insurance rates in Albuquerque? While some risk factors are out of your control, maintaining an excellent driving record is not. Compare insurance rates between those with and without violations on their records, and the savings are easy to see. What kind of rates can a driver with a clean record expect to get on average in Albuquerque? The answer is $193 in monthly insurance premiums. Average rates for those with a speeding ticket or an at-fault accident on their record come in much higher, at $250 and $231, respectively.
| Driving History | Avg. Monthly Cost |
|---|---|
| No Violation | $194 |
| Speeding Ticket | $251 |
| At-Fault Accident | $232 |
| Failure to Stop for Red Light / Stop Sign | $189 |
Albuquerque Car Insurance Rates by Credit Tier
Want to know why car insurance companies ask so many questions? It’s partly because they want to know how reliable you are. Like it or not, a credit score is a good indicator of a person’s likelihood of filing a claim and costing an insurance company more. A poor credit score could signal insurance companies that you are high-risk, and they’ll then pass those costs on to you. In Albuquerque, drivers with an excellent credit score can expect to pay an average of $208 in insurance premiums monthly.
| Credit Tier | Avg. Monthly Cost |
|---|---|
| Excellent | $209 |
| Good | $202 |
| Average | $198 |
| Poor | $192 |
See More: Bad Credit Car Insurance New Mexico
Find local Albuquerque agents
Desert Mountain Agency, Inc dba J B Martin Insurance Agency
8500 Menaul Blvd. NE,
Suite B555, Albuquerque, NM 87112Jackson Insurance Solutions
5501 Eagle Rock Ave NE,
Albuquerque, NM 87113Berger Briggs Insurance & Risk Solutions, Inc.
4333 Pan American Fwy NE,
Albuquerque, NM 87107-6833Menicucci Insurance Agency
2116 Vista Oeste NW,
Albuquerque, NM 87120Paula Rodriguez Insurance
9201 Montgomery blvd,
Albuquerque, NM 87111Underwood Insurance Agency
9200 Montgomery Blvd Ne Ste B,
Albuquerque, NM 87111HUB International Insurance Services
7770 Jefferson NE,
Albuquerque, NM 87109Strategic Insurance Group LLC
901 Rio Grande Blvd NW C172,
Albuquerque, NM 87104Albuquerque Insurance World, Inc.
2828 Carlisle NE Ste F,
Albuquerque, NM 87110Sunset Insurance Corporation
1905 San Mateo Blvd NE,
Albuquerque, NM 87110-5175
Albuquerque DMV Information
Albuquerque has a multiple outposts and field offices throughout the city and surrounding areas. Most are open from 9 AM to 5 PM with varying morning and weekend hours. In the biggest city in the Land of Enchantment, a DMV is never too far out of the way.
Public Transit in Albuquerque
Albuquerque operates public transporation via bus throughout the city and surrounding areas. Some bus routes only run on weekends, so be sure to check the schedule prior to your departure. Even with these services, most Albuquerque residents drive cars in adn around the city, with over 93 percent of household owning vehicles. Ridesharing services like Uber and Lyft, plus traditional taxis, operate across Albuquerque.
How to get the best and cheapest car insurance in Albuquerque
As American drivers know too well, too much precious time is wasted sitting in traffic each year. There’s no need to waste more time finding the perfect auto insurance policy.
An estimated 20 percent of vehicles on the road of New Mexico are driving uninsured, ranking third in the country for most uninsured drivers. Give yourself peace of mind with sufficient car insurance coverage. Don’t become just one more uninsured motorist—get quotes with Insurify to get the best coverage and rates for your car at a price that works for you.
FAQs - Albuquerque, NM Car Insurance
Winter weather can have a big effect on driving in Albuquerque in the colder months. Firstly, follow local law enforcement’s instructions, suggestions, and driving bans. Keep a safety kit in your car with a shovel, snow broom, ice scraper, water, snacks, warm clothing, emergency flares, flash lights, batteries, and jumping cables. In serious storms, only travel by car in emergencies or when vitally necessary. It’s best to stay safe at home and not risk the dangers of a snowy drive. To legally drive in New Mexico, vehicles must carry liability insurance, even if they are just parked on the road. Bodily injury and property damage coverage are required as the minimum coverage in the state. Supplemental coverage for further protection in the case of an accident can be obtained in the form of comprehensive, collision, loan/lease payoff, medical payments, rental car reimbursements, roadside assistance, and uninsured motorist protection. Insurance agencies offer these options for further coverage in the case of an accident caused by or involving your vehicle. As insurance products become more comprehensive, so does the protection. While cheap auto insurance is what some drivers are in the market for, other drivers prefer to have the highest coverage. Driving uninsured puts yourself, your passengers, your property, and everyone around you in danger, which is why you should never drive uninsured. In the state of New Mexico, if a driver is found to be driving uninsured, punishments can have major, costly, and long-term repercussions. For the first offense of driving without financial responsibility, drivers will receive four points on their license, hundreds in fines, and license suspension. They may also be mandated to file SR-22 insurance. The best way to get the cheapest car insurance in Albuquerque and save on your auto insurance premium is to compare quotes from all companies in your area. Use a car insurance quotes comparison site like Insurify to compare up to 10+ real quotes for your specific driver profile and unlock savings and discounts. Rates can fluctuate greatly based on whether you're a safe driver or a high-risk one, but you should never overpay. Insurify provides the cheapest car insurance quotes and companies in your area in just a few seconds.
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Methodology
The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.
Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS 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.
With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.
Insurify Insights
How Albuquerque 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 Albuquerque, 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 Albuquerque drivers measure up to their fellow motorists across New Mexico 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.
Dodge Dakota
Most Popular Car in Albuquerque
#11
City with the Most Speeding Tickets Rank in New Mexico
#10
City with the Most Moving Violations Rank in New Mexico
#1
City with the Most DUIs Rank in New Mexico
#9
City with the Most Suspended Licenses in New Mexico
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. Albuquerque drivers rank 4 in the number of car accidents per driver across all cities in New Mexico.
- Rank within state: #4
- Percent of drivers in Albuquerque with an accident: 8.54%
- Drivers in Albuquerque, NM with an accident in their driving history pay on average 38.04% more than drivers with a clean record
Exceeding the speed limit can endanger others and leave a permanent stain on your driving record. When compared to other cities in New Mexico, Albuquerque drivers rank 11 in the number of speeding infractions per driver.
- Rank within state: #11
- Percent of drivers in Albuquerque with a speeding ticket: 7.45%
- Drivers in Albuquerque, NM with a speeding ticket in their driving history pay on average 33.13% more than drivers with a clean record
While driving while intoxicated is never acceptable, it’s a more common offense than many assume. Albuquerque drivers rank 1 in the number of DUI’s per driver across all cities in New Mexico.
- Rank within state: #1
- Percent of drivers in Albuquerque with a DUI: 2.2%
- Drivers in Albuquerque, NM with a DUI in their driving history pay on average 9.82% more than drivers with a clean record
The Insurify team classifies rude drivers as those who commit the following driving offenses: failure to yield or failure to stop, improper backing, passing where prohibited, tailgating, street racing, or hit-and-runs. Among all cities in New Mexico, Albuquerque drivers rank 3 in rude driving infractions.
- Rank within state: #3
- Percent of drivers in Albuquerque with a reckless driving violation: 0.84%
- Drivers in Albuquerque, NM with a reckless driving violation in their driving history pay on average 47.24% more than drivers with a clean record.
Having a squeaky-clean driving record is an accomplishment to be proud of. Some cities have safer drivers than others; Albuquerque drivers rank 1 in clean driving records across all cities in New Mexico.
- Rank within state: #1
- Percent of drivers in Albuquerque with clean record: 83.74%
Failing to yield the right of way isn’t just frustrating for other drivers; it’s dangerous, too. Albuquerque drivers rank 3 in failure to yield violations per driver across all cities in New Mexico.
- Rank within state: #3
- Percent of drivers in Albuquerque with a failure to yield violation: 0.15%
- Drivers in Albuquerque, NM with a failure to yield violation in their driving history pay on average 0% more than drivers with a clean record
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. Among all cities in New Mexico, Albuquerque drivers rank 4 in the number of reckless driving offenses per driver.
- Rank within state: #4
- Percent of drivers in Albuquerque with a reckless driving offense: 0%
Some car models are just more popular than others and trends can vary from place to place. The most popular vehicle in Albuquerque is the Dodge Dakota.
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.
Content Specialist at Insurify
Olivia Oksenhorn is an SEO content specialist at Insurify and received a BA in English Literature from the University of Colorado. Before starting at Insurify, she worked as a freelance writer and in newsrooms and nonprofits across Colorado. Born and raised in the mountains, Olivia is a lover the outdoors and spends her spare time adventuring in nature whenever and wherever she can.
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