Cheapest Auto Insurance in Hobbs, New Mexico (2024)

State Farm offers the cheapest car insurance in Hobbs, with minimum-coverage policies as low as $34 per month.

Jamie Johnson
Written byJamie Johnson
Jamie Johnson
Jamie Johnson
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  • Featured on Credit Karma and Insider

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Chris Schafer
Edited byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

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Updated October 7, 2024

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Cheapest recent rates near Hobbs, New Mexico

Drivers using Insurify have found quotes as cheap as $32/mo for liability only and $55/mo for full coverage in Hobbs and other New Mexico cities.

*Quotes generated for Insurify users in and around Hobbs, New Mexico within the last 10 days. Last updated on October 7, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from October 7, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users in and around Hobbs, New Mexico within the last 10 days. Last updated on October 7, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from October 7, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

The average monthly cost of car insurance in Hobb is $142 per month, which is slightly above the state average of $127. Rates in New Mexico may be higher because 21% of New Mexico drivers are uninsured, raising the state’s total insurance costs.[1]

Fortunately, the average auto insurance rate in Hobbs still falls below the national average of $158. Here’s what you should know about the things affecting your auto insurance rates in Hobbs, as well as strategies you can use to reduce your insurance costs as much as possible.

Quick Facts
  • Full-coverage car insurance costs an average of $217 per month in Hobbs, while liability-only coverage costs $67 per month.

  • State Farm, USAA, and GEICO are the cheapest car insurance companies in Hobbs.

  • Hobbs drivers pay an average annual rate of $2,604 for a full-coverage policy.

3 of the cheapest car insurance companies in Hobbs

Several factors determine your auto insurance premium, including your driving history, demographics, ZIP code, and coverage limits. The best way to find cheap car insurance is to shop around and compare premiums from different insurers.

The following table outlines the three cheapest car insurance companies in Hobbs, as well as their statewide average rates for full-coverage and liability-only policies.

Insurance Company
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.
Full Coverage
Liability Only
Best For
State Farm9.3$64$32Teen drivers
USAA9.4$77$38Military members
GEICO9.0$79$39Discounts
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Best insurer for teen drivers: State Farm

Compare personalized, real-time quotes
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.
9.3/10
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.
$34/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.
$69/mo

The median age in Hobbs is 31, and 30% of Hobbs’ population is younger than 17.[2] Most young drivers can benefit by signing up for State Farm’s Steer Clear program, which encourages drivers younger than 25 to practice safe driving habits. Completing the Steer Clear program could result in savings of up to 20%.

Pros
  • Top J.D. Power customer satisfaction rating in the Southwest region

  • Best option for young adults

Cons
  • Doesn’t offer gap insurance

  • Must purchase your policy through an insurance agent

Read more driver reviews of State Farm
Pam - October 7, 2024
Verified

State Farm's High Rates for Seniors

For my vehicle, which is a 2004 model, and considering my age (70), plus my accident-free record and lack of tickets, there are no benefits for seniors. State Farm's rates are ridiculously high. I also have my home insurance with them. It was difficult to get information when I added two riders; I had to jump through hoops.

Enes - October 7, 2024
Verified

Too High Rate

The rate is too high.

Charles - October 7, 2024
Verified

Very Satisfied

I am very satisfied so far.

Best insurer for military members: USAA

Compare personalized, real-time quotes
User Reviews
3.7
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.
9.4/10
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.
$42/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.
$83/mo

If you’re a veteran or active-duty service member living in Hobbs, it may be a good idea to consider car insurance from USAA. If you garage your car on base, you could save up to 15%. You can also save with USAA by bundling your auto and home insurance, insuring multiple vehicles, and setting up automatic payments.

Pros
  • Offers 24/7 online claims assistance

  • Provides banking, investing, and other types of insurance products

Cons
  • Only available for veterans, active-duty service members, and their families

  • Can’t sign up through local insurance agents

Read more driver reviews of USAA
Kathleen - October 7, 2024
Verified

Ford Escape S - An Amazing Invention

They never activated my policy when I bought my new SUV.

Vivian - October 7, 2024
Verified

Be Aware, It Could Get Costly

I've been with USAA for a while and they were great in the beginning. However, after experiencing some misfortunes, including a few accidents - one of which was my fault, my insurance rates skyrocketed. I can no longer afford them, which is why I'm currently shopping for another insurance company.

Elridge - October 7, 2024
Verified

Avoid Banking

The company is excellent for insurance, particularly home insurance. However, be very cautious with their banking services!

Best insurer for discounts: GEICO

Compare personalized, real-time quotes
User Reviews
3.1
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.
9.0/10
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.
$43/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.
$85/mo

The average household income in Hobbs is $73,548, and the city has a low cost of living.[2] If you’re looking for additional ways to cut insurance costs, GEICO is a good choice, thanks to its many discounts. GEICO offers discounts based on customer loyalty, having safety features in your vehicle, and your driving history and habits. You could also earn a discount for belonging to certain groups, like the military or the federal government.

Pros
  • Robust online and mobile tools

  • Wide selection of discounts and coverages

Cons
  • No rideshare insurance

  • No gap insurance

Read more driver reviews of GEICO
Anirban - October 7, 2024
Verified

Best Insurance for Teslas

It offers the lowest rate compared to others.

Timothy - October 7, 2024
Verified

Used to Love Them, Not So Much Anymore

I've been with them for over 15 years and they are consistently increasing the prices every 6 months. It's truly disheartening.

Michael - October 7, 2024
Verified

Customer loyalty should matter, but it doesn't with them. I have had no claims in 9 years, and yet the rates keep going higher and higher.

Customer loyalty should matter, but it doesn't with them. I have had no claims in 9 years, and yet the rates keep going higher and higher.

How to get the cheapest car insurance in Hobbs

Here are some steps you can take to find the cheapest rates on car insurance in Hobbs:

  • Raise your deductible. Your deductible is the out-of-pocket expense you’ll pay when you file an insurance claim. Raising your deductible could help lower your monthly insurance premiums.

  • Bundle your insurance. Most insurance companies will give you a discount for buying multiple policies from them. For example, you could save by bundling your auto and life insurance or by purchasing insurance policies for multiple vehicles.

  • Take advantage of low-mileage discounts. If you spend very little time on the road, you could save by taking advantage of low-mileage discounts.

  • Lower your coverage. If you have an older vehicle that’s paid off, you could save by eliminating any unnecessary insurance coverage. For example, choosing liability-only coverage will lower your monthly premiums.

  • Shop around. Apply for car insurance quotes from at least three different insurance companies. Shopping around will help you find the lowest rates and best coverage for your situation.

Find Cheap Car Insurance in Hobbs, New Mexico

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Cheapest liability-only car insurance in Hobbs: State Farm

Liability-only insurance meets the minimum amount of coverage required to drive in New Mexico. If you’re at fault in an accident, liability coverage will pay for damages to the other party’s vehicle and cover their medical costs. However, you’ll be responsible for paying for your own car repairs and medical costs.

The average rate for liability-only insurance in Hobbs is $67 per month, and here you can see how quotes compare from leading insurers.

The below rates are estimated rates current as of: Sunday, September 1 at 12:00 PM PDT
Insurance Company
Average Monthly Quote
State Farm$34
USAA$42
GEICO$43
National General$59
Midvale Home & Auto$61
The General$64
Hallmark$66
Allstate$68
Progressive$73
Farmers$81
Dairyland$83
Nationwide$83
Safeco$84
GAINSCO$92
Bristol West$93
Foremost$113
Liberty Mutual$126
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest full-coverage car insurance in Hobbs: State Farm

Full-coverage auto insurance includes liability, comprehensive, and collision insurance. Unlike liability insurance, full coverage pays for your vehicle repairs.

The average rate for full-coverage car insurance in Hobbs is $217 per month, and you can see how quotes from top insurers compare here.

The below rates are estimated rates current as of: Sunday, September 1 at 12:00 PM PDT
Insurance Company
Average Monthly Quote
State Farm$69
USAA$83
GEICO$85
Allstate$135
Midvale Home & Auto$137
Progressive$146
Safeco$154
Farmers$163
National General$163
Nationwide$165
The General$165
Hallmark$170
Dairyland$203
GAINSCO$227
Liberty Mutual$259
Bristol West$272
Foremost$315
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest recent rates near Hobbs, New Mexico

Drivers using Insurify have found quotes as cheap as $37/mo for liability only and $55/mo for full coverage in Hobbs and other New Mexico cities.

*Quotes generated for Insurify users in and around Hobbs, New Mexico within the last 10 days. Last updated on October 7, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from October 7, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users in and around Hobbs, New Mexico within the last 10 days. Last updated on October 7, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from October 7, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

Car insurance requirements in New Mexico

Like most states, New Mexico requires drivers to meet minimum insurance requirements. If you don’t meet the following requirements, you risk having your vehicle registration suspended.

The minimum requirements in New Mexico are as follows:[3]

Coverage
Minimum Requirements
Bodily injury liability (one person)$25,000 per person / $50,000 per accident
Property damage liability$10,000

If liability coverage alone isn’t robust enough for you, you can enhance your insurance with any of the following coverages:

  • illustration card https://a.storyblok.com/f/162273/x/665da91bf7/comprehensive-coverage.svg

    Comprehensive coverage

    Comprehensive coverage protects your vehicle from things like theft, vandalism, falling objects, or other hazards unrelated to an auto accident.

  • illustration card https://a.storyblok.com/f/162273/x/169fdfde11/liability-coverage.svg

    Collision coverage

    Collision insurance reimburses you for damages caused by an accident with another vehicle or object.

  • illustration card https://a.storyblok.com/f/162273/x/4c9753bdbe/medical-payments.svg

    Medical payments coverage

    Medical payments coverage reimburses you for medical expenses resulting from an accident.

  • illustration card https://a.storyblok.com/f/162273/x/5285c4cd74/uninsured-or-underinsured-motorist-coverage.svg

    Uninsured/underinsured motorist coverage

    Uninsured/underinsured motorist coverage protects you if your vehicle is hit by an underinsured or uninsured motorist.

Cheapest car insurance for drivers with an incident

If you’re caught speeding or driving under the influence, or if you cause an at-fault accident, you can expect your insurance rates to go up. This is because such incidents cause your insurance company to see you as a higher risk.

Your insurer will increase your premiums to compensate for this risk. These increased rates can stay on your premium for up to three years following the claim.[4]

The average rate for liability-only insurance in Hobbs with a clean driving record is $67 per month. The average rates for coverage with a speeding ticket, DUI, and at-fault accident are $94, $117, and $103, respectively.

The following table outlines what drivers with a clean record can expect to pay for insurance in Hobbs compared to drivers with a history of speeding tickets, at-fault accidents, or DUIs.

The below rates are estimated rates current as of: Sunday, September 1 at 12:00 PM PDT
Insurance Company
Clean Driving Record
With Speeding Ticket
With At-Fault Accident
With DUI
State Farm$34$44$47$58
USAA$42$54$59$71
GEICO$43$56$60$73
National General$59$77$83$100
The General$64$84$91$109
Allstate$68$88$95$115
Progressive$73$94$103$124
Farmers$81$104$113$137
Dairyland$83$108$116$141
Nationwide$83$109$117$141
Safeco$84$110$115$142
GAINSCO$92$129$124$156
Bristol West$93$121$129$158
Foremost$113$158$169$192
Liberty Mutual$126$177$189$214
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Average cost of car insurance by age

Your age is one of the biggest factors influencing how much you pay for auto insurance. Car insurance rates begin to decrease around age 35 but increase again starting at age 70. Teen drivers pay the highest rates for car insurance due to their lack of experience behind the wheel. The following table outlines average car insurance quotes based on your age.

Age
Average Monthly Quote
Teens$370
20s$252
30s$174
40s$162
50s$136
60s$126
70s$148
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.

Shop for Car Insurance in Hobbs, NM

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Hobbs car insurance quotes by credit tier

New Mexico allows insurance companies to consider your credit history during the underwriting process. They do so because research has shown that drivers with good credit file fewer insurance claims. So drivers with excellent or good credit typically pay less for auto insurance than drivers with poor credit, everything else being equal.

Here’s what you can expect to pay for car insurance in Hobbs based on your credit tier.

Rates by Credit Tier

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.

Hobbs car insurance FAQs

Looking for more information to help you find the most affordable car insurance in Hobbs? Consult the answers to common questions below.

  • How much is car insurance in Hobbs?

    The average rate for car insurance in Hobbs is $142 per month. More specifically, the average rate for liability-only coverage is $67, and the average rate for full coverage is $217.

  • Who has the cheapest car insurance in Hobbs?

    State Farm offers the cheapest car insurance in Hobbs, at a rate of $34 per month. USAA and GEICO also offer affordable car insurance in the area, with rates of $42 and $43 per month, respectively.

  • What are the best car insurance companies in Hobbs?

    State Farm, GEICO, and USAA are ranked as three of the top insurers in Hobbs. All offer competitive rates, and State Farm offers several benefits for teen drivers, who traditionally pay some of the highest rates. GEICO offers numerous discounts, and USAA remains a fixture for military members and their families.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Insurance Information Institute. "Facts + Statistics: Uninsured motorists."
  2. Choose Hobbs. "Hobbs New Mexico: Fast Facts."
  3. New Mexico MVD. "Insurance."
  4. Insurance Information Institute. "Do auto insurance premiums go up after a claim?."
Jamie Johnson
Jamie Johnson

Jamie Johnson is a Kansas City-based personal finance writer whose work has been featured on several of the top finance and business sites in the country, including Insider, Credit Karma, Bankrate, Rocket Mortgage, Fox Business, Quicken Loans, and The Balance. For the past six years, she's dedicated more than 10,000 hours of research and writing to more than 2,000 articles about personal finance topics.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

Featured in

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