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 $34 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 July 25, 2024

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The overall average cost of car insurance in Rio Rancho is $144 per month, which is more than the state’s overall average of $130 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 $79 per month for liability-only policies and $209 per month for full coverage.

  • State Farm is the cheapest full-coverage car insurance company in Rio Rancho, with a monthly rate of $70.

  • 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-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Full CoverageLiability OnlyBest for
State Farm9.3$63$31Young drivers
USAA9.4$76$38Military members and families
GEICO9.0$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 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 young 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.
$70/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 more driver reviews of State Farm
Robert - July 25, 2024
Verified

Upsetting

The initial representative lied to me about the price of the policy. I'm paying $30 more a month than was quoted.

Matthew - July 25, 2024
Verified

Abandoned by State Farm

It was a negative experience. After 15 years with the company, I was dismissed due to two car accidents on my record, both of which had been previously reported as not my fault. They refused to communicate with me afterwards. I would advise others to consider this before choosing State Farm.

Janet - July 25, 2024
Verified

Too High

I have had State Farm for 5 years and have been very happy until this last renewal. My full coverage insurance jumped up by $400. This is why I keep looking for cheaper insurance.

Best insurer for military members and families: 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.
$84/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 more driver reviews of USAA
Charles - July 23, 2024
Verified

Average

The rates are way too high.

Ralph - July 22, 2024
Verified

No Answer

There is no senior discount available.

Wilfred - July 22, 2024
Verified

Issues Encountered with USAA

A few years ago, a minor male bicyclist collided with my car, which my wife was driving at the time. She was leaving a large intersection with a green light when the bicyclist, who was riding in a pedestrian lane, appeared from behind a stopped box truck that obscured his approach. The local police department in Belmont, MA, was called and the Traffic Control Officer wrote up the accident report, clearing my wife of any responsibility. I forwarded this report to USAA. However, when I applied for increased motor vehicle insurance coverage about a year later, I was denied. USAA cited the accident with the bicyclist as a chargeable accident against my wife, despite the police report, and they had never informed us about this. I was never able to resolve this issue. Another incident occurred on December 14, 2023. I wired $60,000 to USAA for a 7-month CD and received a receipt acknowledgment. However, on the same day, the deposit was withdrawn without any direct notice to me, except for a normal monthly bank statement reflecting the withdrawal without any explanation in mid-January. It took about 9 days for USAA to resolve the issue and return the $60,000. This was a very stressful 9 days for me, and I never received an apology or explanation. Trying to reach someone with authority through numerous phone calls was literally impossible. It took a two-page business letter with 7 enclosures to get the CEO's right-hand woman to take action and return the $60,000 to my credit union. As for insurance rates, we own, register, and insure two cars that are driven about 10 miles per week on average, sometimes 100 miles on a Saturday to visit our daughter. However, it seems that we do not receive any discount for this.

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.
$86/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 more driver reviews of GEICO
Judy - July 25, 2024
Verified

The employees are not adequately trained for their job. That's why I recently stopped using their services. I regret having to say this.

The employees are not adequately trained for their job. That's why I recently stopped using their services. I regret having to say this.

Judy - July 25, 2024
Verified

Poor Mobile App

The mobile app was disappointing. After multiple attempts, we decided to cancel.

Matthew - July 25, 2024
Verified

Geico is Expensive but Offers Great Service

It's expensive, but the service is awesome.

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Liability rates start at $34 per month

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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 $79 per month, on average. The table below shows other cheap liability insurers in the city.

The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT
Insurance CompanyAverage Monthly Quote
State Farm$34
USAA$42
GEICO$43
National General$60
Midvale Home & Auto$62
The General$65
Hallmark$66
Allstate$69
Progressive$74
Farmers$82
Dairyland$84
Nationwide$84
Safeco$85
GAINSCO$93
Bristol West$94
Foremost$114
Liberty Mutual$127
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 $209 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: Monday, July 1 at 12:00 PM PDT
Insurance CompanyAverage Monthly Quote
State Farm$70
USAA$84
GEICO$86
Allstate$137
Midvale Home & Auto$138
Progressive$148
Safeco$156
Farmers$165
National General$165
Nationwide$167
The General$167
Hallmark$173
Dairyland$206
GAINSCO$230
Liberty Mutual$263
Bristol West$276
Foremost$319
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.

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 $79 per month for liability insurance. But that average increases to $116 per month with a speeding ticket, $125 per month after an accident, and $141 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: Monday, July 1 at 12:00 PM PDT
Insurance CompanyClean Driving RecordWith Speeding TicketWith At-Fault AccidentWith DUI
State Farm$34$45$48$59
USAA$42$55$60$73
GEICO$43$57$61$75
National General$60$79$86$104
Midvale Home & Auto$62$85$93$108
The General$65$87$94$113
Hallmark$66$87$90$115
Allstate$69$91$98$120
Progressive$74$98$106$129
Farmers$82$108$116$142
Dairyland$84$112$119$146
Nationwide$84$112$120$146
Safeco$85$114$117$148
GAINSCO$93$135$127$162
Bristol West$94$124$132$163
Foremost$114$165$175$198
Liberty Mutual$127$184$195$221
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 $79 a month for liability-only policies and $209 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 $34, $42, and $43 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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