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As we work together to slow the spread of COVID-19, state insurance commissions and insurance providers are constantly changing regulations and practices surrounding monthly payments, claim payouts, and more. To stay up to date with the latest on auto insurance reimbursements in your area, be sure to check with your state’s insurance commission and your current auto insurance provider.
If your driving habits have changed due to COVID-19, find a new, cheaper, ready-to-buy auto insurance policy on Insurify by comparing dozens of quotes at once.
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.
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.
Here are the cheapest carriers in Albuquerque for the following user profile: a single, 30 year old male with a clean driving record who drives a 2012 Honda Accord and pays a $1,000 deductible for the state’s minimum liability insurance.
| Cheapest Companies | Quotes |
|---|---|
 Progressive | $35/mo |
 State Farm | $70/mo |
 Nationwide | $120/mo |
 Travelers | $134/mo |
 The General | $160/mo |
| Best Companies | Quotes | |
|---|---|---|
 American Family | $153/mo | |
Nationwide | $232/mo | |
 Safeco | $191/mo | |
 Liberty Mutual | $246/mo | |
Travelers | $159/mo |
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 |
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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:
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:
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.
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 |
| Driving History | Avg. Monthly Cost |
|---|---|
| No Violation | $194 |
| Speeding Ticket | $251 |
| At-Fault Accident | $232 |
| Failure to Stop for Red Light / Stop Sign | $189 |
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.
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 Tie | Avg. Monthly Cost |
|---|---|
| Excellent | $209 |
| Good | $202 |
| Average | $198 |
| Poor | $192 |
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.
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.
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.
Using a proprietary dataset of over 1.6 million car insurance shopper applications, the data scientists at Insurify have run various studies on driver behavior across geographical locations, age ranges, motor vehicle registration, and other variables all related to auto insurance coverage.
We’ve been able to determine the speediest cities in the nation, the most popular cars among age groups, and the occupations with the worst drivers, among other insightful reports. We’ve also launched annual awards campaigns to congratulate the communities across the country who have excelled in environmentally friendly initiatives, educational attainment, and other areas.
Here's how Albuquerque stacks up for the state of New Mexico:
