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Cheapest Car Insurance Quotes in Albuquerque, NM (2023)

Progressive, Midvale Home & Auto, and Travelers offer the cheapest rates for full-coverage car insurance in Albuquerque.

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Jacqueline DeMarco
Written by
Jacqueline DeMarco
Jacqueline DeMarco
Written by
Jacqueline DeMarco
During college, Jacqueline DeMarco interned at a retirement plan advisory firm and was tasked with creating a presentation on the importance of financial wellness. During her research into how money can affect our health, relationships and career, Jacqueline realized just how important financial education is. Jacqueline is a contributor for Insurify and has worked with more than a dozen financial brands, including LendingTree, Capital One, Credit Karma, Fundera, Chime, Bankrate, Student Loan Hero, ValuePenguin, SoFi, and Northwestern Mutual, providing thoughtful content to give readers insight into complex topics that they likely didn’t learn in school.
Ashley Cox
Edited by
Ashley Cox
Headshot of Managing Editor Ashley Cox
Edited by
Ashley Cox
Managing Editor
Ashley is an experienced personal finance editor who has edited a variety of digital content over the years, including credit cards, insurance, mortgages, personal loans, student loans, and more. She is passionate about helping people learn more about personal finance so that they can empower themselves and achieve their financial goals.Ashley began her career as a journalist, working as a reporter and editor for print and broadcast news outlets. She also has a background in corporate retail communications, where she focused on web content and marketing communications development. Before joining Insurify, Ashley worked as a senior editor at Credible and a copy editor at Credit Karma.When she’s not editing, Ashley volunteers with the local Humane Society, takes trapeze classes (where she daydreams about running away and joining the circus), and hikes the beautiful mountains of Western North Carolina.Ashley earned a bachelor’s degree in journalism and mass communication from Samford University.
Janeth Lopez
Reviewed by
Janeth Lopez
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Reviewed by
Janeth Lopez
Licensed Insurance Agent
Janeth Lopez is a licensed insurance agent. She specializes in auto, home, business, life, and RV insurance.

Updated December 22, 2022

Albuquerque drivers have become used to paying a little bit more for their car insurance. Minimum-coverage car insurance in Albuquerque costs an average of $113, which is 14% more per month than the New Mexico average of $145. 

The higher rates may be, in part, due to the fact that Albuquerque is one of the most dangerous cities for drivers. In 2022, the state ranked among the 10 U.S. cities with the highest rate of fatal car crashes, with 4.65 deaths per 100,000 residents, according to Teletrac Navman, based on an analysis of National Highway Transportation Administration and Census data.[1]

Many other factors affect your insurance rates, including your age, vehicle type, ZIP code, and more. Keep reading for more insight into car insurance in Albuquerque.

How much does car insurance cost in Albuquerque?

Car insurance costs in Albuquerque can vary greatly, which is why it can be helpful to shop around to find the best policy that meets your needs and works for your budget. Aim for at least three different insurance companies or more.

Insurify data scientists analyzed the latest insurance rates in Albuquerque to identify the lowest quotes in the area and found the following providers have the cheapest rates across select categories:

  • Midvale Home & Auto: At $86 per month, Midvale Home & Auto offers the cheapest liability-only insurance coverage in Albuquerque.

  • Progressive: At $136 per month, Progressive offers the cheapest full-coverage insurance in Albuquerque.

  • Travelers: At $166 per month, Travelers offers the cheapest insurance for younger drivers in Albuquerque.

Read More: Cheap Car Insurance in New Mexico

Average cost of auto insurance in Albuquerque

While the average monthly cost for car insurance in Albuquerque is $169 (accounting for both liability-only and full-coverage policies), this cost can vary greatly by provider. Insurify data scientists refined and analyzed a database of more than 70 million quotes to help gain insight into Albuquerque car insurance costs.

The following table outlines average monthly auto insurance costs for Albuquerque drivers with a handful of insurance providers.

Insurance CompanyAverage Monthly Cost
Progressive$123
Midvale Home & Auto$129
Travelers$137
Dairyland$146
The General$147
GAINSCO$161
Foremost Signature$167
Safeco$177
Kemper$190
Hallmark$193
Liberty Mutual$206
Nationwide$206
Acuity$208
Bristol West$408
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.

Average car insurance premiums in Albuquerque by marital status

Single people often pay more for car insurance than married people. Insurify data found that in Albuquerque, single drivers had an average monthly car insurance premium of $214, whereas married people paid just $165 on average.

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Cheapest car insurance in Albuquerque: Midvale Home & Auto

The cheapest insurer in Albuquerque is Midvale Home & Auto, with an average monthly cost of $86 for liability-only insurance coverage. It’s important to remember that the rate you’re offered can be very different from the average, as different factors affect your insurance rates, such as your driving record, where you live, how old you are, how often you drive, and the type of car you have.

The following table outlines average monthly prices for the cheapest insurance providers in Albuquerque.

Insurance CompanyLiability OnlyFull Coverage
Progressive$108$136
Midvale Home & Auto$86$142
Travelers$106$145
The General$132$162
Foremost Signature$106$181
Kemper Specialty$105$184
Safeco$131$192
Dairyland$90$196
Acuity$188$211
Nationwide$146$221
GAINSCO$97$222
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.

How much car insurance do you need in Albuquerque?

Drivers in Albuquerque are legally required to have auto insurance, and they must provide proof of insurance when renewing their vehicle registration, if their car is involved in an accident, and if requested by law enforcement.

The minimum liability insurance requirements for private passenger vehicles in Albuquerque are:[2]

  • $25,000 per person for bodily injury

  • $50,000 per accident for bodily injury

  • $10,000 per accident for property damage

New Mexico DMV information

If you’re a driver in Albuquerque, you can visit the New Mexico Motor Vehicle Division (MVD) to handle driving-related tasks — such as renewing your driver’s license or vehicle registration — at one of 34 state-run field offices and 39 local offices across the state.

But you can complete many services online, such as renewing or replacing your driver’s license, applying for vehicle title and registration, and transferring a title.[3]

Tips for getting cheap car insurance in Albuquerque

If you want to save on your auto insurance policy, consider these tips for reducing costs:[4]

  • Buy or lease a less-expensive car. You can start your journey to insurance savings before you even have a car to insure by choosing a less-expensive car. The more expensive a car is to repair and replace, the more it can cost to insure.

  • Find out what discounts you qualify for. Many car insurance providers offer a variety of discounts. Some are very easy to qualify for, like going paperless, and some require a bit of planning and work, such as taking a defensive driver course or maintaining good grades in school.

  • Bundle multiple insurance policies. If your car insurance provider also offers other forms of insurance, such as life or homeowners insurance, and you purchase multiple policies through them, you may be able to get a bundling discount.

  • Take your time shopping for policies. When it comes time to buy insurance, make sure you inquire about potential rates and compare quotes with multiple insurance providers. The goal here isn’t to find the cheapest possible rate, but to find the lowest rate for the right amount of coverage that you need.

Learn More: Compare Home and Auto Insurance Bundles

How age affects car insurance rates in Albuquerque

When auto insurance companies determine customer rates, they often look at age first, as younger drivers (especially those under 25) are notoriously high-risk to insure. Not only are young drivers less experienced — and don’t have a strong driving record to back them up — but they also tend to get into more accidents.[5]

This table examines monthly average car insurance rates in Albuquerque for drivers in different age groups.

Age GroupAverage Monthly Rate
Teenagers$364
Under 25$257
25–29$176
30s$153
40s$144
50s$123
60s$118
70s$137
80+$172
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.

Cheapest car insurance for young drivers in Albuquerque

Travelers offers the cheapest car insurance for young drivers in Albuquerque, at an average rate of $166 per month for full-coverage policies. The below table outlines other affordable provider options based on their average rates (all rates are for full-coverage policies). If you’re under the age of 25 and want to save money on car insurance, you can maintain a high GPA, as many car insurance providers offer good student discounts.

Insurance CompanyAverage Monthly Rate
Travelers$166
Midvale Home & Auto$180
Dairyland$195
Progressive$201
Safeco$214
The General$226
Kemper$234
GAINSCO$241
Nationwide$258
Hallmark$283
Liberty Mutual$334
Foremost Signature$410
Bristol West$425
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.

Cheapest car insurance for middle-aged drivers in Albuquerque

For middle-aged drivers in Albuquerque, Progressive offers the best average monthly rate for full-coverage policies, at just $96 a month. You can turn to the table below for more insight into providers that offer the cheapest average full-coverage policies.

While middle-aged drivers don’t have their age working against them, their extra years spent on the road can mean they have a messier driving record. If a middle-aged driver wants to make up for a less-than-pristine record, they can bundle their car insurance policy with other insurance policies through the same provider — like homeowners insurance — to save on multiple policies.

Insurance CompanyAverage Monthly Rate
Progressive$96
Dairyland$117
Midvale Home & Auto$121
Travelers$126
GAINSCO$133
The General$134
Kemper$135
Acuity$136
Safeco$159
Foremost Signature$163
Hallmark$167
Liberty Mutual$175
Nationwide$179
Bristol West$325
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.

Cheapest car insurance for senior drivers in Albuquerque

Progressive offers the most affordable car insurance for senior drivers in Albuquerque, at $90 per month for a full-coverage policy. Even with such a low rate, some senior drivers may want to save even more — especially if they’re on a fixed budget. One way they can save is by pursuing a pay-per-mile policy that only charges them for the miles they drive now that their commuting days are behind them.

The following providers also offer the cheapest full-coverage policies for seniors.

Insurance CompanyAverage Monthly Rate
Progressive$90
Midvale Home & Auto$104
Dairyland$105
The General$117
Travelers$119
Foremost Signature$128
Liberty Mutual$131
GAINSCO$133
Safeco$137
Bristol West$145
Nationwide$146
Kemper$150
Hallmark$151
Acuity$220
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.

How credit scores affect cheap car insurance in Albuquerque

While it isn’t legal in all states to use credit scores to influence insurance premiums, it’s possible to do so in New Mexico. An auto insurance provider may choose to use consumer credit information to help them determine how much to charge, as some bad credit scores indicate how likely a driver is to file a claim.[6]

Credit score rankings can differ a bit depending on the credit-scoring model the insurance company uses, but they generally fall into this range:

  • Poor: 500–600

  • Fair: 601–660

  • Good: 661–780

  • Excellent: 781–850

The following averages for full-coverage policies can shed some light on how insurance rates can vary for Albuquerque drivers with different credit scores.

Credit TierAverage Monthly Quote
Excellent$161
Good$171
Average$176
Poor$180
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.

See Also: Car Insurance Rates by Credit Tier

The effect of driving habits on car insurance in Albuquerque

Certain driving habits and incidents can affect your insurance premiums. For example, if you have a history of causing accidents and getting speeding tickets, you’re likely to see your insurance rate rise, as your behavior indicates you’re more likely to file claims.

The following tables offer insight into how insurance rates can change due to different driving behaviors.

It’s worth noting that a negative difference doesn’t necessarily mean that insurance companies offer lower rates for drivers with that infraction on their records. This can simply mean that our sample size was small or that insurers may choose not to offer policies to drivers with that infraction. Your actual rate can vary due to many factors aside from your driving record.

Cheapest car insurance with an accident in Albuquerque

If you have an accident on your record, you’ll likely pay more for car insurance than drivers with a clean record. But it’s still possible to find affordable premiums after an accident.

Car Insurance CompanyClean RecordWith AccidentDifference
Progressive$117$217+$100
Midvale Home & Auto$125$218+$93
Travelers$130$141+$11
Dairyland$132$199+$67
The General$147$252+$105
Acuity$156$256+$100
GAINSCO$158$229+$71
Foremost Signature$160$233+$73
Safeco$160$190+$30
Kemper$168$211+$43
Nationwide$179$242+$63
Hallmark$184$283+$99
Liberty Mutual$206$290+$84
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.

Cheapest car insurance with a DUI in Albuquerque

Insurers view drivers with DUIs on their records as a major risk, and they charge them much more for insurance than drivers with a clean record.

Car Insurance CompanyClean RecordWith DUIDifference
Progressive$117$175+$58
Midvale Home & Auto$125$187+$62
Travelers$130$266+$133
Dairyland$132$169+$37
The General$147$209+$62
GAINSCO$158$286+$128
Safeco$160$141-$19
Kemper$168$153-$15
Nationwide$179$121-$58
Hallmark$184$339+$155
Liberty Mutual$206$149-$57
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.

Cheapest car insurance with a speeding ticket in Albuquerque

If you have a speeding ticket on your record, your insurance company may raise your rates, though you’ll still probably pay less for car insurance than someone with a DUI or more serious infraction on their record.

Car Insurance CompanyClean RecordWith Speeding TicketDifference
Progressive$117$221+$104
Midvale Home & Auto$125$191+$66
Travelers$130$153+$23
Dairyland$132$188+$56
The General$147$224+$77
Foremost Signature$160$247+$87
Safeco$160$210+$50
Kemper$168$211+$43
Nationwide$179$242+$63
Hallmark$184$271+$87
Liberty Mutual$206$280+$74
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.

Car insurance in other New Mexico cities

Car insurance rates vary widely from city to city, even within the same state. Here’s a look at car insurance rates in some other New Mexico cities:

Find local Albuquerque agents

  • Desert Mountain Agency, Inc dba J B Martin Insurance Agency 

    8500 Menaul Blvd. NE,
    Suite B555, Albuquerque, NM 87112
  • Jackson Insurance Solutions 

    5501 Eagle Rock Ave NE,
    Albuquerque, NM 87113
  • Berger Briggs Insurance & Risk Solutions, Inc. 

    4333 Pan American Fwy NE,
    Albuquerque, NM 87107-6833
  • Menicucci Insurance Agency 

    2116 Vista Oeste NW,
    Albuquerque, NM 87120
  • Paula Rodriguez Insurance 

    9201 Montgomery blvd,
    Albuquerque, NM 87111
  • Underwood Insurance Agency 

    9200 Montgomery Blvd Ne Ste B,
    Albuquerque, NM 87111
  • HUB International Insurance Services 

    7770 Jefferson NE,
    Albuquerque, NM 87109
  • Strategic Insurance Group LLC 

    901 Rio Grande Blvd NW C172,
    Albuquerque, NM 87104
  • Albuquerque Insurance World, Inc. 

    2828 Carlisle NE Ste F,
    Albuquerque, NM 87110
  • Sunset Insurance Corporation 

    1905 San Mateo Blvd NE,
    Albuquerque, NM 87110-5175
View more

Albuquerque car insurance FAQs

Here are answers to some commonly asked questions about car insurance in Albuquerque.

  • The average monthly cost for car insurance in Albuquerque is $163. That means Albuquerque drivers can expect to spend $1,956 per year on car insurance on average.

  • The minimum liability insurance requirements for private passenger vehicles in Albuquerque are $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $10,000 for property damage.

  • Drivers who don’t have insurance in Albuquerque risk having their vehicle registration suspended and may be subject to criminal penalties.

  • In Albuquerque, Midvale Home & Auto has the cheapest liability-only insurance coverage ($86 per month), Progressive offers the lowest rate for full-coverage insurance ($136 per month), and Travelers is the least expensive option for younger drivers ($166 per month).

  • Nationwide is the best car insurance company in Albuquerque, with an ICS score 89 and average monthly costs of $221 for full coverage and $146 for liability only.

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  • Data scientists at Insurify analyzed more than 40 million real-time auto insurance rates from our partner providers 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. Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Service's database of auto insurance rates. With these insights, Insurify is able to offer drivers insight into how companies price their car insurance premiums.

Sources

  1. Teletrac Navman. "Dangerous Driving Behavior During the Fall." Accessed December 22, 2022
  2. New Mexico Motor Vehicle Division. "Insurance." Accessed December 20, 2022
  3. New Mexico Motor Vehicle Division. "MyMVD Online Services." Accessed December 20, 2022
  4. Insurance Information Institute. "Nine ways to lower your auto insurance costs." Accessed December 20, 2022
  5. Insurance Information Institute. "What determines the price of an auto insurance policy?." Accessed December 20, 2022
  6. National Association of Insurance Commissioners. " CREDIT-BASED INSURANCE SCORES." Accessed December 20, 2022
Jacqueline DeMarco
Written by
Jacqueline DeMarco
Linkedin

During college, Jacqueline DeMarco interned at a retirement plan advisory firm and was tasked with creating a presentation on the importance of financial wellness. During her research into how money can affect our health, relationships and career, Jacqueline realized just how important financial education is. Jacqueline is a contributor for Insurify and has worked with more than a dozen financial brands, including LendingTree, Capital One, Credit Karma, Fundera, Chime, Bankrate, Student Loan Hero, ValuePenguin, SoFi, and Northwestern Mutual, providing thoughtful content to give readers insight into complex topics that they likely didn’t learn in school.

Learn More
Ashley Cox
Edited by
Ashley Cox
Linkedin

Managing Editor

Headshot of Managing Editor Ashley Cox
Edited by
Ashley Cox
Managing Editor
Ashley is an experienced personal finance editor who has edited a variety of digital content over the years, including credit cards, insurance, mortgages, personal loans, student loans, and more. She is passionate about helping people learn more about personal finance so that they can empower themselves and achieve their financial goals.Ashley began her career as a journalist, working as a reporter and editor for print and broadcast news outlets. She also has a background in corporate retail communications, where she focused on web content and marketing communications development. Before joining Insurify, Ashley worked as a senior editor at Credible and a copy editor at Credit Karma.When she’s not editing, Ashley volunteers with the local Humane Society, takes trapeze classes (where she daydreams about running away and joining the circus), and hikes the beautiful mountains of Western North Carolina.Ashley earned a bachelor’s degree in journalism and mass communication from Samford University.
Janeth Lopez
Reviewed by
Janeth Lopez

Licensed Insurance Agent

Icon of a woman
Reviewed by
Janeth Lopez
Licensed Insurance Agent
Janeth Lopez is a licensed insurance agent. She specializes in auto, home, business, life, and RV insurance.