Cheapest Auto Insurance in Rio Rancho, New Mexico (2024)

State Farm is the cheapest car insurance company in Rio Rancho for liability coverage. Its rates start at $36 per month.

Theresa Stevens
Theresa Stevens
  • AFCPE Accredited Financial Counselor

  • 6 years experience in the personal financial industry

Theresa is a writer and former financial advisor with experience helping clients solve money challenges. She uses her expertise to clarify complex personal finance concepts.


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Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

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Updated May 29, 2024

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Cheapest recent rates near Rio Rancho, New Mexico

Drivers using Insurify have found quotes as cheap as $32/mo for liability only and $63/mo for full coverage in Rio Rancho and other New Mexico cities.

*Quotes generated for Insurify users in and around Rio Rancho, New Mexico within the last 10 days. Last updated on May 28, 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 28, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users in and around Rio Rancho, New Mexico within the last 10 days. Last updated on May 28, 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 28, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

The overall average cost of car insurance in Rio Rancho is $149 per month, which is more than the state’s overall average of $132 per month.

The city’s more expensive average rates may be because of its proximity to Albuquerque, which has more than a half-million residents, and its claim as one of the fastest-growing communities in the Southwest.[1] [2]

Here’s what you need to know about comparing quotes and finding cheap auto insurance policies in Rio Rancho.

Quick Facts
  • The average cost of car insurance in Rio Rancho is $87 per month for liability-only policies and $211 per month for full coverage.

  • State Farm is the cheapest full-coverage car insurance company in Rio Rancho, with a monthly rate of $71.

  • Car insurance companies in New Mexico can consider your credit score and history when determining your premiums.[3]

3 of the cheapest car insurance companies in Rio Rancho

Rio Rancho drivers have many car insurance companies to consider, each with different coverage options and discounts. The best car insurance companies in Rio Rancho offer affordable rates, quality customer service, and plenty of customizable coverages. It’s important to shop around to find the best deal for your specific needs.

Here’s a breakdown of some of the best and cheapest car insurance companies in Rio Rancho.

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$32Young drivers
USAA4.7$76$38Military members and families
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 young 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.
$36/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.
$71/mo

State Farm offers various products such as auto, home, business, pet, and life insurance. State Farm provides a few different ways for young adults to save money on auto insurance, including good student, driver training, and student away-at-school discounts. Plus, its SteerClear program can help safe drivers younger than 25 earn more discounts on their car insurance.

Pros
  • Multiple discounts for young drivers

  • Large network of insurance agents

Cons
  • Can’t get a quote online

  • Doesn’t offer gap insurance

Read our State Farm review
Poncho - May 29, 2024
Verified

Poor

They need to reduce their policy prices.

Nevin - May 29, 2024
Verified

Need Better Agents

The relationship with the agent was poor.

Mindy - May 29, 2024
Verified

Brianna is very kind and helpful, she kept me from making a big mistake

Excellent service.

Best insurer for military members and families: 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.
$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.
$86/mo

USAA offers military members and their family members insurance, banking, and investing products. While only former and active military members and their families are eligible, USAA customers can benefit from a variety of coverage and discounts, including a discount for garaging their car on a military base and an annual mileage discount.

Pros
  • Discounts for military members

  • AM Best financial strength rating of A++ (Superior)

Cons
  • Restrictive membership requirements

  • Gap insurance not available

Read our USAA review
Jacqueline - May 28, 2024
Verified

Experience was fine other than the security issue

The only reason I'm looking for automobile insurance is because USAA canceled my policy on the 24th. I no longer have the phone that is in my profile and they were unable to send the 6-digit code for verification. So, basically, I was and still am locked out of my account. The representatives couldn't discuss my account with me due to strict security.

Joey - May 27, 2024
Verified

Bait and Switch at Its Worst

After receiving a quote of $54 for the first payment, and $40+ per month, Suzi insisted on 'reviewing' the answers I submitted online. She took this opportunity to add coverage I didn't request or want. When she finished, her offer was over $200/month. No thanks, 'Suzi'.

Mary - May 26, 2024
Verified

USAA has been very good, but recently my vehicle insurance premiums have significantly increased. I am struggling financially, so I have been trying to find a less expensive policy.

USAA has been very good, but recently my vehicle insurance premiums have significantly increased. I am struggling financially, so I have been trying to find a less expensive policy.

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.
$44/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.
$88/mo

GEICO insurance offerings include auto, condo insurance, home insurance, renters insurance, flood, travel, and life insurance. GEICO shines with its wide selection of discounts, including good driver, defensive driving, multiple vehicles, and anti-theft system discounts. You may also be able to reduce your rates if you work for the federal government or military.

Pros
  • Highly rated mobile app

  • Cheaper rates than some competitors

Cons
  • Doesn’t offer gap insurance

  • Below-average J.D. Power customer satisfaction rating in the Southwest

Read our GEICO review
Diana - May 29, 2024
Verified

Too Expensive!

Way too expensive.

Andrew - May 29, 2024
Verified

Too Expensive

Too expensive. $115 a month for basic liability.

Kennethkenneth - May 29, 2024
Verified

I Want Out

They are too expensive.

Get Car Insurance Online

Liability rates start at $36 per month

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Based on 3,806+ reviews
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How to get the cheapest car insurance in Rio Rancho

Auto insurance prices can vary depending on different factors, such as local crime rates, driving history, age, credit score, and marital status. Insurers weigh these factors differently, which is why it’s a good idea to compare quotes from different companies.

Here are some ways to find affordable insurance in Rio Rancho:

  • Increase your deductible. Increasing the deductible on your auto policy may help lower your monthly payments. Make sure you can afford the deductible if you file a claim.

  • Reconsider your coverage. Reducing your coverage may help you get cheap insurance. For example, if you drive an older, paid-off car, you may want to consider switching to a liability-only car insurance policy.

  • Bundle insurance policies. Many insurance companies offer a discount when you buy one or more policies with the company, such as your auto and home insurance policies.

  • Compare quotes. Use a quote-comparison platform to gather multiple quotes and compare them at once. This can help you narrow down which car insurance company offers you the best rates for the coverage you want.

Cheapest liability-only car insurance in Rio Rancho: State Farm

New Mexico requires all drivers to purchase liability insurance, which helps cover the damages from a car accident you cause. It doesn’t pay for your damages or injuries.

Liability insurance in Rio Rancho costs $87 per month, on average. The table below shows other cheap liability insurers in the city.

The below rates are estimated rates current as of: Thursday, May 23 at 12:00 PM PDT
Insurance CompanyAverage Monthly Quote
State Farm36
USAA43
GEICO44
Midvale Home & Auto65
Hallmark67
The General68
Allstate71
Progressive76
Safeco81
Dairyland85
Farmers85
Nationwide86
GAINSCO94
Bristol West99
Foremost116
Liberty Mutual128
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 Rio Rancho: State Farm

Drivers who want broader protection can buy full-coverage car insurance, which typically includes comprehensive, collision, and liability insurance. Full coverage may be worth considering for drivers with new vehicles that would be expensive to repair or replace. But because it has more protection, it usually costs more: an average of $211 per month in Rio Rancho.

Compare some of the lowest average rates for full-coverage car insurance in Rio Rancho below.

The below rates are estimated rates current as of: Thursday, May 23 at 12:00 PM PDT
Insurance CompanyAverage Monthly Quote
State Farm71
USAA86
GEICO88
Midvale Home & Auto135
Allstate140
Safeco149
Progressive150
Farmers167
The General167
Nationwide170
Hallmark178
Dairyland207
GAINSCO227
Liberty Mutual261
Bristol West283
Foremost291
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.

How Much Other Insurify Customers Pay in and around Rio Rancho, New Mexico

Drivers in and around Rio Rancho, New Mexico have found policies from Allstate, Foremost, GEICO, and more, through Insurify in the last few days.

*Quotes generated for Insurify users in and around Rio Rancho, New Mexico within the last 10 days. Last updated on May 28, 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 28, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users in and around Rio Rancho, New Mexico within the last 10 days. Last updated on May 28, 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 28, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

Car insurance requirements in New Mexico

Drivers in New Mexico must purchase liability insurance. New Mexico law follows a fault-based insurance system, which means the driver who causes a car accident is financially responsible for the other parties’ losses.[4]

Here are the specific insurance coverage requirements in New Mexico:[5]

CoverageMinimum Requirements
Bodily injury liability$25,000 per person / $50,000 per accident
Property damage liability$10,000 per accident

New Mexico drivers who want more protection from potential damages and injuries can consider the following additional coverages:

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

    Comprehensive coverage

    Comprehensive insurance helps cover vehicle repairs or replacement for non-collision events, such as theft, vandalism, falling objects, and severe weather.

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

    Collision coverage

    Collision insurance covers your vehicle’s damages if you hit a stationary object or another vehicle, regardless of fault.

  • illustration card https://a.storyblok.com/f/162273/x/abffe6238f/financial-protection.svg

    Gap coverage

    Gap insurance covers the difference between your auto loan balance and insurance settlement in the event of a total loss.

  • illustration card https://a.storyblok.com/f/162273/100x100/24f1697280/car-key.svg

    Rental reimbursement coverage

    Rental reimbursement coverage pays for a rental car while your vehicle is in the shop for repairs under a covered claim.

  • illustration card https://a.storyblok.com/f/162273/x/38dc81ba93/drive-1.svg

    New-car replacement coverage

    If you total a brand-new vehicle, new-car replacement insurance pays to replace your vehicle with one of the same make and model.

Is Accident Forgiveness Insurance Worth It?

Is Accident Forgiveness Insurance Worth It?

Cheapest car insurance for drivers with an incident

If you have an incident like an at-fault accident, speeding ticket, driving under the influence (DUI) conviction, or other moving violation on your driving record, it can be challenging to find cheap car insurance. Insurance companies perceive drivers with these incidents to be a higher insurance risk than drivers with a clean record and adjust rates accordingly.

With a clean driving record, Rio Rancho drivers pay an average of $87 per month for liability insurance. But that average increases to $126 per month with a speeding ticket, $136 per month after an accident, and $153 per month after a DUI.

Compare the cost of liability-only insurance for drivers with a clean record versus drivers with a past incident below.

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 Farm36475062
USAA43566074
GEICO44586276
Midvale Home & Auto658896112
Hallmark678891115
The General689097117
Allstate719399122
Progressive76100108131
Safeco81108110139
Dairyland85112119146
Farmers85110118146
Nationwide86113121148
GAINSCO94135127162
Bristol West99128136170
Foremost116167176199
Liberty Mutual128184195220
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

In addition to ZIP code, gender, and vehicle type, age is one of the most important factors insurers look at when determining car insurance rates. Rates generally decrease around age 35 and increase around age 70 because older drivers are more vulnerable to injuries in car accidents.[6] Teen drivers pay the most expensive car insurance premiums due to their lack of driving experience and high accident rates.[7]

The table below includes the average monthly car insurance quotes for various age groups in Rio Rancho.

AgeAverage Monthly Quote
Teens$396
20s$272
30s$190
40s$181
50s$152
60s$136
70s$160
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.

Find Car Insurance in Rio Rancho, NM

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Rio Rancho car insurance quotes by credit tier

Insurers in Rio Rancho are allowed to consider your credit history when setting rates.[3] Insurance companies use credit histories to predict the likelihood that someone will file claims. Drivers with good credit scores may pay cheaper rates, because insurers perceive them as lower risk, while drivers with bad credit may pay higher rates due to perceived increased risk.

Here are the average monthly full-coverage car insurance quotes by credit tier for Rio Rancho drivers.

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.

Rio Rancho car insurance FAQs

Here’s what you need to know about car insurance for bad drivers, and check out the answers to common questions about auto coverage in Rio Rancho below.

  • How much is car insurance in Rio Rancho?

    The average cost of car insurance in Rio Rancho is $87 a month for liability-only policies and $211 for full coverage.

  • Which companies have the cheapest car insurance in Rio Rancho?

    State Farm, USAA, and GEICO are the cheapest car insurance companies in Rio Rancho, with liability rates of $36, $43, and $44 per month, respectively.

    But the cheapest company for someone else may not be the cheapest for you. It’s important to compare rates from multiple companies to find the one that offers you the best deal.

  • What are the best car insurance companies in Rio Rancho?

    Some of the best insurance companies in Rio Rancho that Insurify identified include State Farm, USAA, and GEICO. These companies have high IQ Scores, solid AM Best financial ratings, and relatively cheap rates for drivers in Rio Rancho.

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. U.S. Census Bureau. "QuickFacts: Albuquerque city, New Mexico; Rio Rancho city, New Mexico."
  2. Rio Rancho. "Community Overview."
  3. Justia. "NM Stat § 59A-17A-4 (2021)."
  4. Nolo. "New Mexico Auto Insurance Laws and Requirements."
  5. New Mexico Motor Vehicle Division. "Insurance."
  6. Insurance Institute for Highway Safety. "Fatality Facts 2021: Older people."
  7. Insurance Institute for Highway Safety. "Fatality Facts 2021: Teenagers."
Theresa Stevens
Theresa Stevens

Theresa Stevens is a personal finance writer based in Boston, Massachusetts. Her work has been featured in Forbes Advisor, Bankrate, and more. As a former financial advisor, she has first-hand experience helping people solve their money challenges. When she's not writing, you'll find her trying out new karaoke spots or planning her next trip abroad.

Courtney Mikulski
Edited byCourtney MikulskiSenior Editor, Auto
Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

Featured in

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