Cheap Car Insurance for High-Risk Drivers in New Mexico:
Costs and Quotes (2022)

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Last Updated: January 2022

Cheapest Insurance Companies for High Risk Drivers in New Mexico (2022)

For drivers that are high-risk in New Mexico, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies after this incident will allow you to get the best possible insurance rate for drivers that are high-risk.

To simplify comparing companies, Insurify has analyzed rates from top insurance providers in New Mexico. The following are the best insurance rates from carriers that offer car insurance for high-risk drivers in New Mexico.

What Makes a Driver High-Risk in New Mexico?

Safe driving should be at the top of everyone's priority list in New Mexico, but sadly, that's not always the case. Motorists who engage in frequent lane changes, drive well over the speed limit, or fail to stop at a red light are putting their lives and everyone else's in danger. And their car insurance company will most certainly make them pay for it.

Drivers who have a number of violations on their record may still have options for their car insurance but should expect to pay higher rates. It's best to price shop before enrolling in a policy to make sure you find the best balance between coverage options and affordability.

New Mexico Car Insurance Rates for High-Risk Drivers
Average Monthly Cost
$172
$209
$210
$212
$209
No ViolationSpeeding TicketAt-Fault AccidentReckless DrivingFailure to Stop
Driving History

Insurify's comparison tool will help you make sure you're getting the best possible quote even after high risk driving violation. You can have peace of mind you're not paying any more than need to, and customers save $48 per month on average.

How Much Does High-Risk Driving Affect Car Insurance Rates in New Mexico?

High-risk driving is certainly dangerous, and while your rates will go up in New Mexico, they won't be unaffordable. Depending on the circumstances of your infraction, you could find that speeding, reckless driving, or causing an accident will only add $30 or so to your monthly premium.

At first, that might not sound like much, but remember that car insurance is a bill you have for years and years. These increased monthly costs add up very quickly over time, and if you receive multiple violations, your rates could be exceptionally high. Average monthly costs after engaging in high-risk driving behavior often look like these:

Driving History
No Violation$172
Speeding Ticket$209
At-Fault Accident$210
Reckless Driving$212
Failure to Stop$209

How Much Does a Speeding Ticket Impact Car Insurance Rates in New Mexico?

No matter how late you are for an appointment, it's never a good idea to speed. The reality is that you don't really save that much time getting to your destination and you're putting people's lives at risk. Car insurance companies in New Mexico are quick to raise rates by about $37 per month for those with speeding tickets:

$172
$209
No Violation - Avg. Monthly RateSpeeding ticket - Avg. Monthly Rate
$37 ▴Avg. Monthly Rate Increase

How Does an at-Fault Accident Impact Insurance Rates in New Mexico?

Getting into an auto collision isn't on anyone's to-do list, but even careful drivers can sometimes cause an accident. If this occurs, you can expect your car insurance to raise your rates to around $210 in most cases. Average prices in New Mexico typically look like this:

$172
$210
No Violation - Avg. Monthly RateSpeeding ticket - Avg. Monthly Rate
$38 ▴Avg. Monthly Rate Increase

How Much Does Failure to Stop for a Red Light or Stop Sign Impact Car Insurance Rates in New Mexico?

Driving through a stop sign or red light could happen because you're in a rush or you didn't notice you had to stop until it was too late, but New Mexico drivers won't find much forgiveness from their auto insurance carrier. It's likely that your rates will go up an additional $400 annually, with average prices shown below:

$172
$209
No Violation - Avg. Monthly RateSpeeding ticket - Avg. Monthly Rate
$37 ▴Avg. Monthly Rate Increase

Does Driving With a Suspended License Impact Car Insurance Rates in New Mexico?

Safe driving should be at the top of everyone's priority list in New Mexico, but sadly, that's not always the case. Motorists who engage in frequent lane changes, drive well over the speed limit, or fail to stop at a red light are putting their lives and everyone else's in danger. And their car insurance company will most certainly make them pay for it.

Drivers who have a number of violations on their record may still have options for their car insurance but should expect to pay higher rates. It's best to price shop before enrolling in a policy to make sure you find the best balance between coverage options and affordability.

Tips for Researching High-Risk New Mexico Car Insurance Rates

Insurance prices and policies can vary significantly between companies, and a large and growing state like New Mexico draws a wide variety of choices when factoring high-risk driving insurance rates.

Insurify''s rate comparison tool will help you make sure you''re getting the best possible quote based on your needs and location. You can have peace of mind you''re not paying any more than you need to, and customers save $585 per year on average.

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FAQs - New Mexico Car Insurance

Why is car insurance so expensive in New Mexico?

There are many different factors that go into the how expensive your car insurance is. That said, some of the reasons why you could be paying so much for your insurance include: living in a state with high minimum insurance requirements, being a young or new driver, committing past traffic offenses like at-fault accidents or DUIs, and having a low credit score.

Do car insurance rates vary by county in New Mexico?

Auto insurance costs will vary between locations and insurance carriers, depending on the county New Mexico. Insurify analyzed the latest data for the five most populous cities in New Mexico to find you the cheapest quotes in each of these metropolitan areas.

Which providers have the best auto insurance ratings in New Mexico?

The way to find the carrier with the best auto insurance ratings in New Mexico and save on your insurance premiums 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.

How much do annual auto insurance rates increase in New Mexico?

During the past three years in the United States, national premium costs have risen an average of 4.5 percent annually. In states where quotes have risen, this figure has been 7.8 percent; and in those where rates have fallen, prices have decreased by approximately 6.0 percent. Individual rates by state will of course vary depending on the driver’s history and a multitude of factors.

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.