Cheapest Auto Insurance in Hobbs, New Mexico (2024)

State Farm offers the cheapest car insurance in Hobbs, with minimum-coverage policies as low as $33 per month.

Jamie Johnson
Written byJamie Johnson
Jamie Johnson
Jamie Johnson
  • 6 years experience in personal finance writing

  • Featured on Credit Karma and Insider

Jamie is a meticulous researcher who has published 2,000+ personal finance articles. Her expertise is trusted by major brands like Bankrate and Rocket Mortgage.

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Chris Schafer
Edited byChris Schafer
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.

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Updated May 23, 2024

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Cheapest recent rates near Hobbs, New Mexico

Drivers using Insurify have found quotes as cheap as $39/mo for liability only and $56/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 May 23, 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 May 23, 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 May 23, 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 May 23, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

The average monthly cost of car insurance in Hobb is $137 per month, which is slightly above the state average of $132. 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 $160. 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 $206 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 $2,477 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 CompanyIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Full CoverageLiability OnlyBest For
State Farm4.6$63$32Teen drivers
USAA4.7$76$38Military members
GEICO4.4$78$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 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. Criteria are weighted 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 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: We use 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 20,000 customer reviews across 155 car insurance companies. We also considered 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 United States, 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 identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.

Best insurer for teen drivers: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.6
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
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.
$33/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.
$65/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 our State Farm review
Shirley - May 22, 2024
Verified

Excellent

I need a discount because I'm a good driver.

Dana - May 22, 2024
Verified

Not Good

I don't drive much, but they keep raising my rate.

George - May 21, 2024
Verified

Still Looking...

Find a company that's cheaper with better benefits.

Best insurer for military members: USAA

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.7
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
880
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.
$39/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.
$79/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 our USAA review
Billy - May 22, 2024
Verified

USAA

The price became too expensive.

Stephanie - May 22, 2024
Verified

Customer Service Review

The customer service is always professional and helpful. I am thankful for the great people they employ.

Richard - May 21, 2024
Verified

No

Good company.

Best insurer for discounts: GEICO

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
835
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.
$40/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.
$81/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 our GEICO review
Kimberly - May 22, 2024
Verified

Never Again

They are horrible at handling claims and make you feel bad.

Anita - May 22, 2024
Verified

Excellent

Good customer service. Megan Burrell is very helpful and professional.

Charles - May 22, 2024
Verified

Good Insurance

Awesome.

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: Thursday, May 23 at 12:00 PM PDT
Insurance CompanyAverage Monthly Quote
State Farm33
USAA39
GEICO40
Midvale Home & Auto60
Hallmark61
The General62
Allstate65
Progressive70
Safeco75
Dairyland78
Farmers78
Nationwide79
GAINSCO86
Bristol West91
Foremost107
Liberty Mutual117
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 $206 per month, and you can see how quotes from top insurers compare here.

The below rates are estimated rates current as of: Thursday, May 23 at 12:00 PM PDT
Insurance CompanyAverage Monthly Quote
State Farm65
USAA79
GEICO81
Midvale Home & Auto125
Allstate129
Safeco137
Progressive138
Farmers154
The General154
Nationwide157
Hallmark164
Dairyland190
GAINSCO209
Liberty Mutual240
Bristol West261
Foremost268
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.

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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]

CoverageMinimum 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 $97, $118, and $105, 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: Thursday, May 23 at 12:00 PM PDT
Insurance CompanyClean Driving RecordWith Speeding TicketWith At-Fault AccidentWith DUI
State Farm33434657
USAA39515467
GEICO40525669
Midvale Home & Auto608188103
Hallmark618083105
The General628288107
Allstate658591112
Progressive709299120
Safeco75100102129
Dairyland78103109134
Farmers78101108134
Nationwide79104111136
GAINSCO86124116148
Bristol West91118125157
Foremost107154163184
Liberty Mutual117169178201
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.

AgeAverage 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 $137 per month. More specifically, the average rate for liability-only coverage is $67, and the average rate for full coverage is $206.

  • Who has the cheapest car insurance in Hobbs?

    State Farm offers the cheapest car insurance in Hobbs, at a rate of $33 per month. USAA and GEICO also offer affordable car insurance in the area, with rates of $39 and $40 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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