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Licensed auto and home insurance agent
4+ years experience in insurance and personal finance editing
NPN: 20564519
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Media relations director for Insurance Information Institute
20+ years in insurance and communications
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Updated
Shopping for car insurance can be difficult due to the variety of options and the different coverage needs and priorities of each driver. Insurify analyzed 50 car insurance companies to identify the best car insurance in New Mexico based on key factors like price, discounts, and availability.
Here’s what you need to know about getting the best car insurance in New Mexico.
Before settling on an insurer, it’s a good idea to compare multiple companies to see which company best fits your needs. Below are the five best car insurance companies in New Mexico. While they won’t be the right fit for every driver, they can serve as a great starting point on your insurance search.
| User Reviews | 4.1 |
|---|---|
| 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. | 9.3 /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. | $51/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. | $95/mo |
State Farm's score | Industry average | |
|---|---|---|
| Coverage options | 3.9 | 3.2 |
| Customer service | 4.0 | 3.6 |
| Discounts | 3.7 | 2.9 |
| Policy transparency | 3.8 | 3.1 |
| Value | 3.7 | 2.9 |
Customers appreciate the insurer’s excellent customer service and personal attention but dislike the high prices and frequent rate increases. They also express frustration with the claims process.
State Farm is the largest auto insurance company in the U.S., and it has plenty of benefits that make it among the best choices for most drivers. State Farm has some of the lowest rates in New Mexico, including for high-risk drivers, drivers of all ages, and drivers wanting liability only or full coverage.
It also consistently ranks highly in customer satisfaction in J.D. Power’s annual studies. If you prefer to work with an agent, State Farm is a great choice. It has a large network of local agents, including many across New Mexico.
Low rates for New Mexico drivers
Above-average J.D. Power customer satisfaction score in the Southwest region
Large statewide network of local, exclusive agents
Payoff Protector (gap) coverage only available to customers who initiate an auto loan through State Farm Bank
Fewer discounts than some competitors
Policies must be purchased through a State Farm agent
| User Reviews | 4.3 |
|---|---|
| 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. | 9.2 /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. | $64/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. | $118/mo |
GEICO's score | Industry average | |
|---|---|---|
| Coverage options | 4.0 | 3.2 |
| Customer service | 4.1 | 3.6 |
| Discounts | 3.8 | 2.9 |
| Policy transparency | 4.0 | 3.1 |
| Value | 3.8 | 2.9 |
Customers appreciate the reliability and customer service but find the rates to be high and increase frequently, even without claims or accidents. The app has improved, but some find the claims process lacking.
GEICO is a great option for drivers who want the best lineup of discounts to choose from. You can save up to 25% based on your vehicle equipment, driving history and habits, driver education, driver affiliations, and various policy options. And that’s on top of the fact that GEICO already has some of the lowest rates for most New Mexico drivers.
GEICO also has an impressive accident forgiveness add-on. Most drivers can purchase accident forgiveness to add to their policy, but drivers who have been accident-free for five years will get it for free.
Many available discounts
Accident forgiveness available, free for some customers after five years
Average rates lower than many competitors
Gap insurance not available
Below-average J.D. Power customer satisfaction score in the Southwest region
Few local insurance agents in New Mexico
| User Reviews | 4.2 |
|---|---|
| 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. | 9.1 /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. | $114/mo |
USAA's score | Industry average | |
|---|---|---|
| Coverage options | 4.2 | 3.2 |
| Customer service | 4.3 | 3.6 |
| Discounts | 4.0 | 2.9 |
| Policy transparency | 4.1 | 3.1 |
| Value | 4.0 | 2.9 |
Customers appreciate the insurer’s reliable customer service and claim handling but express concerns about high rates and frequent price increases. Some also find the insurer’s security protocols and communication methods frustrating.
USAA offers a wide variety of financial services to military families, from insurance to banking and more. As a carrier exclusively serving the military community, it has some perks catered to those customers, including a discount for garaging your car on a military installation. USAA has excellent customer satisfaction rankings from J.D. Power and consistently low rates for New Mexico drivers.
USAA also offers several ways to save on your premiums using its telematics programs. For example, safe drivers can get up to 30% off their premiums through the USAA SafePilot program, while low-mileage drivers can join its Pay As You Drive program to pay only for the miles they actually drive.
Multiple savings programs
Above-average J.D. Power customer satisfaction score in the Southwest region
Low rates for New Mexico drivers
Coverage restricted to active-duty military, veterans and their eligible family members
Fewer discounts than some competitors
No local offices in New Mexico
| 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. | 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. | $124/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. | $228/mo |
Nationwide's score | Industry average | |
|---|---|---|
| Coverage options | 3.0 | 3.2 |
| Customer service | 3.7 | 3.6 |
| Discounts | 3.0 | 2.9 |
| Policy transparency | 3.0 | 3.1 |
| Value | 3.7 | 2.9 |
Drivers appreciate the helpful and knowledgeable customer service but dislike the frequent and significant rate increases. Some also found the claims process to be slow and frustrating.
If you want car insurance savings tailored to you, Nationwide may be the right option. Its SmartRide program allows you to save up to 40% for your safe driving habits. You’ll get 15% off just for signing up. And its SmartMiles program is a pay-per-mile policy ideal for low-mileage drivers.
Nationwide has other perks that can help you save, including accident forgiveness. Plus, the company has a large network of local independent agents, meaning you can get personalized service combined with the perks of a large company.
Multiple savings programs
Accident forgiveness available
Large statewide network of local independent agents
Below-average J.D. Power customer satisfaction score in the Southwest region
Above-average rates for state minimum liability-only coverage
Fewer discounts than some competitors
| User Reviews | 4.4 |
|---|---|
| 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. | 8.5 /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. | $122/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. | $224/mo |
Farmers's score | Industry average | |
|---|---|---|
| Coverage options | 4.1 | 3.2 |
| Customer service | 4.4 | 3.6 |
| Discounts | 3.8 | 2.9 |
| Policy transparency | 4.1 | 3.1 |
| Value | 3.6 | 2.9 |
Customers appreciate the helpful agents and good initial quotes but dislike the consistent rate increases and lack of senior discounts. Some also reported issues with claim handling and communication.
Farmers offers the best combination of coverage options and discounts. It has more specialty coverages than nearly any insurer in New Mexico, including original equipment manufacturer replacement parts, rideshare coverage, new car replacement, gap insurance, and more.
It also has an impressive lineup of discounts, including quite a few tailored to young drivers. Farmers also offers accident forgiveness, which can forgive one at-fault accident every three years.
Best variety of coverage options and numerous discounts
Broad distribution network of exclusive and independent agents
Accident forgiveness available
Above-average rates for some drivers
Below-average J.D. Power customer satisfaction score in the Southwest region
Discounts vary by state
Our editorial team analyzed regional and national auto insurance companies that sell policies in New Mexico to assess which offer the best rates, coverage options, customer service, and savings to drivers. We prioritized competitive rates, 24/7 customer service, low-mileage discounts or programs, safe driving discounts, homeownership discounts or bundling options, and specialty or supplemental coverages.
If you’re in the market for car insurance, you have ways to get the best coverage and discounts. Here are five tips to help you choose the best car insurance for your needs.[1]
It’s helpful to understand your coverage needs before you shop for a policy. This helps you narrow down your options and get an idea of how much you’ll pay.
Every company offers the state-minimum liability insurance, and most offer other optional coverages, including comprehensive and collision coverage, uninsured motorist coverage, and medical payments. The difference comes in the additional coverage options, which could include things like gap insurance, new car replacement, and rideshare coverage.
When considering your options, it’s also helpful to determine how much of each coverage you want. The lower your coverage limits, the lower your premiums. But you’ll want to make sure you have plenty of coverage in case of an accident.
Before choosing a company, read reviews and ratings from its customers as well as third-party organizations, like Trustpilot.
You can learn what third parties think about each company on sites like J.D. Power, AM Best, the National Association of Insurance Commissioners, and more. These sites provide rankings and ratings for customer satisfaction, financial strength, and customer complaints.
Nearly every car insurance company offers discounts that can help lower your premiums. The number and variety of available discounts can differ significantly from company to company. It’s worth exploring what discounts each company offers.
In addition to discounts, see what other savings opportunities exist. For example, some companies offer telematics programs to help you save based on your safe driving habits or low mileage.
You can typically find the best rates by shopping around for coverage and getting quotes from multiple companies to compare. Shopping with multiple companies can help you ensure you’re getting the best rate for your situation.
You can shop around for insurance by visiting each company’s website and getting an insurance quote. An alternative is to use an insurance-comparison site that allows you to complete one form and see rates from several companies at once.
Compare rates from leading insurers
Car insurance in New Mexico costs an average of $65 per month for liability-only coverage and $137 per month for full coverage. Even though rates in New Mexico have risen in recent years, they still remain lower than the national average.
The state has seen an increase in car thefts, which has contributed to the rising premiums.[2] But you still have plenty of ways to save on your premiums, and many insurers offer rates well below the national average.
Before shopping for car insurance in New Mexico, be sure to read the answers to these frequently asked questions about shopping for a policy.
Car insurance in New Mexico costs $101 per month, on average. A full-coverage policy costs $137 per month, and a liability-only policy costs $65 per month.
Some of the best insurance companies in New Mexico include State Farm, GEICO, USAA, Nationwide, and Farmers. But the best insurance company for you depends on your personal characteristics, driving history, coverage needs, and other factors.
New Mexico requires drivers to have at least $25,000 per person and $50,000 per accident of bodily injury liability coverage and at least $10,000 of property damage liability insurance. If you don’t carry the minimum coverage, you may not be able to register your vehicle with the New Mexico Motor Vehicle Division, or you may have your registration suspended.[3]
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Over 5 years of experience in financial writing
Certified in financial planning by Boston University
Featured in
Licensed auto and home insurance agent
4+ years experience in insurance and personal finance editing
NPN: 20564519
Featured in
Media relations director for Insurance Information Institute
20+ years in insurance and communications
Impartial, independent expert
At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.
We do receive compensation when a sale or referral occurs from many of the insurance providers and marketing partners on our site. That may impact which products we display and where they appear on our site. But it does not influence our meticulously researched editorial content, what we write about, or any reviews or recommendations we may make. We do not guarantee favorable reviews or any coverage at all in exchange for compensation.
