Cheap Auto Insurance Quotes in Farmington, NM (2021)

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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.

While it’s possible to complete errands on foot or bus in Farmington, most people rely on their cars to get to work. It’s important for Farmington residents to get a car insurance policy in order to drive legally and protect their assets.

Car Insurance in Farmington, 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 Farmington, NM to find you the cheapest quotes in the area.

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Cheapest Car Insurance in Farmington, NM

Here are the cheapest carriers in Farmington 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.

Average Car Insurance Cost

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Click here to learn about car insurance quotes and save on your current policy.

Farmington, NM Driving Facts

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.

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Farmington Car Insurance Rates by Driver Age

Drivers interested in low car insurance rates love living in Farmington, as the most expensive premiums there are very affordable. Individuals under the age of 20 pay a mere $152 on average, and these rates tend to stay about the same until age 30. Farmington drivers in their 70s enjoy the lowest prices of all, with rates averaging around $83. For the most part, prices continue to decline, except for a slight increase for those in their 50s.

Driver's AgeAvg. Monthly Cost
teens$153
20s$157
30s$112
40s$105
50s$132
60s$87
70s$84
80sN/A
Driving HistoryAvg. Monthly Cost
No Violation$125
Speeding Ticket$107
At-Fault Accident$102
Failure to Stop for Red Light / Stop Sign$98

Farmington Car Insurance Rates by Driving and Accident History

Tarnishing a clean driving record might seem like it would lead to a huge expense, but in Farmington, drivers aren’t hit with super high price increases should an incident occur. Those with no violations to their name pay around $124 for coverage. An at-fault accident will bring rates to roughly $101, and failing to stop at an intersection often changes premiums to $97.

Farmington Car Insurance Rates by Credit Tier

If you’re hoping to save money on your car insurance costs, improving your credit score surprisingly won’t have much of an effect. Those in the bottom two tiers of credit, poor and average, pay $120 and $113, respectively, for their insurance. As you increase your credit to the good category, your rate will change to an average of $129. Motorists with excellent credit save the most, with prices that hover around the $100 mark.

Credit TieAvg. Monthly Cost
Excellent$101
Good$130
Average$114
Poor$121

Farmington, NM DMV Information

When it comes time to register your vehicle, the MVD field office in Farmington can meet your needs. Many services can also be accessed online. Keep in mind you’ll need proof of insurance to register your vehicle, but it’s possible to get coverage quickly with Insurify. You’ll just need to enter your information one time, and you can find the lowest possible premium and apply for a policy in minutes.

Public Transportation in Farmington, NM

Red Apple Transit provides some fixed-route buses, but only about 0.2 percent of workers use the system to commute. About 83 percent of Farmington workers drive alone to work, and an additional 12 percent carpool, commuting an average of 18 minutes to get there. Lyft operates in Farmington along with two taxi services, so you have options if your car is out of commission. But ultimately, your best option for transportation is to drive a car and maintain an active insurance policy.

Conclusion: How to get the best and cheapest car insurance in Farmington, NM

If you’re caught driving without insurance in New Mexico, you’ll face a $300 fine and up to 90 days in jail. But that’s nothing compared to what you could owe if you caused a car accident while uninsured.

If you want to stay safe and legal on the road in Farmington, you’ll need a car insurance policy. While shopping for car insurance used to require significant time and effort, Insurify’s artificial intelligence technology makes it easy to get the best premium for the coverage you need. You’ll just need to answer a few questions to get started.

Insurify Rankings

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 Farmington stacks up for the state of New Mexico:

ford
Ford F-Series Pickup
Most Popular Car in
Farmington, NM
suspended licenses
#4
Cities with Most
Suspended Licenses Rank

FAQs - Farmington, NM Car Insurance

How much does car insurance in Farmington cost?

Car insurance in Farmington is very affordable, costing an average of $83 per month. That’s lower than the state average and only about one third of the national average cost. What’s more, some insurance providers in Farmington may be able to offer premiums as low as $27 per month to drivers with a clean record.

Will my credit score impact my premium in Farmington?

In most cases, yes. Most insurers use credit score information to determine your premium, and in New Mexico, having no credit can mean up to 79 percent higher premiums when compared to policyholders with excellent credit. However, every insurer weighs your information differently, and it’s still possible to get an affordable rate if you compare customized quotes. You can use Insurify to compare rates from up to 20 providers in one place.

What are the minimum requirements for car insurance in New Mexico?

In New Mexico, you must carry a minimum of: $25,000 per person and $50,000 per accident in bodily injury liability coverage $10,000 per accident in property damage liability coverage $25,000 per person and $50,000 per accident in uninsured motorist coverage These minimum requirements won’t cover any damages to your vehicle in an accident you cause, so you may want to consider purchasing full coverage if you need your car to get to work. You’ll also likely need full coverage if you have a loan or a lease.