Cheap Auto Insurance Quotes in Rio Rancho, NM (2021)

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As we work together to slow the spread of COVID-19, state insurance commissions and insurance providers are constantly changing regulations and practices surrounding monthly payments, claim payouts, and more. To stay up to date with the latest on auto insurance reimbursements in your area, be sure to check with your state’s insurance commission and your current auto insurance provider.

If your driving habits have changed due to COVID-19, find a new, cheaper, ready-to-buy auto insurance policy on Insurify by comparing dozens of quotes at once.

Rio Rancho has been named as one of the best places to live in the state for several reasons, including its low crime rate. Drivers here can appreciate the positive impact that it makes on their policy rates.

While crime rates in Rio Rancho are low compared to the rest of the state, it’s not the only thing that goes into totaling up your car insurance premium. The best policies are the ones you buy after being able to look at rates from every angle.

Car Insurance in Rio Rancho, NM

The average cost of New Mexico car insurance will vary from city to city and between insurance companies. Insurify analyzed the latest insurance rates in Rio Rancho, NM to find you the cheapest quotes in the area.

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Cheapest Car Insurance in Rio Rancho, NM

Here are the cheapest carriers in Rio Rancho for the following user profile: a single, 30 year old male with a clean driving record who drives a 2012 Honda Accord and pays a $1,000 deductible for the state’s minimum liability insurance.

Best Car Insurance in Rio Rancho, NM

The Insurify Composite Score is calculated by analyzing multiple factors that indicate the quality, reliability, and health of an insurance company. Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings, Consumer Reports customer satisfaction surveys, mobile app reviews, and user-generated carrier reviews. The following are the top rated carriers that offer car insurance in Rio Rancho. For the complete list, see Insurify's best car insurance companies.

Average Car Insurance Cost

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Rio Rancho, NM Driving Facts

Minimum Car Insurance Requirements in NM

The state of New Mexico requires all motor vehicle operators to have proof of insurance available in the car at all times.

The minimum bodily injury liability insurance requirements in New Mexico are:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident

Bodily injury liability coverage protects you by paying for the injuries of anyone you harm in an accident. The minimum limits New Mexico state law requires are $25,000 for the injury or death of a single person involved in a car accident and $50,000 for the injury or death of multiple persons. Insurance providers list this coverage at 25/50, stating the limitations of each minimum. In an accident, liability coverage protects you up to the policy limit. Damages above the policy limit of $50,000 are your responsibility.

The minimum property damage liabiltiy insurance requirements in New Mexico are:

  • $10,000 property damage liability per accident

Property damage liability coverage pays for any property that you damage in an accident. The state of New Mexico requires $10,000 for the minimum. You’ll see the collective state minimum listed at 25/50/10. The 10 refers to the property damage liability. Once again, any damages above the $10,000 are your responsibility.

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Rio Rancho Car Insurance Rates by Driver Age

At $370 per month, hardworking teenagers will be able to afford car insurance and still maintain good grades, sports, and other extracurriculars. For New Mexicans, the rates slide down as drivers gain more experience. Twentysomethings see an immediate $150 price cut over the youngest drivers. The rates continue to trend down with a speed bump in middle age. Most drivers in their 30s, 60s, and 70s stay well below the state average of $182. In fact, those in their 60s pay $250 less than teens, a $3,000 per year difference.

Driver's AgeAvg. Monthly Cost
teens$371
20s$220
30s$152
40s$345
50s$306
60s$120
70s$132
80sN/A
Driving HistoryAvg. Monthly Cost
No Violation$231
Speeding Ticket$246
At-Fault Accident$239
Failure to Stop for Red Light / Stop SignN/A

Rio Rancho Car Insurance Rates by Driving and Accident History

In the Land of Enchantment, safe driving is smart driving. Insurance companies agree with the sentiment and give “good driver” and “accident-free” discounts to those with clean records. A speeding ticket translates into paying $14 more per month. Likewise, an at-fault accident means a little less than $10 more per month. But that doesn’t mean drivers are stuck paying more forever. After three years of careful driving, tickets and accidents stop affecting insurance rates.

Rio Rancho Car Insurance Rates by Credit Tier

Rio Rancho drivers are scratching their heads trying to figure out how credit applies to how well they drive. Like most states, New Mexico law allows insurance companies to factor in credit when setting rates. If so, why do people with the poorest credit pay the least? Often, drivers with better credit can afford to finance costlier cars and need more coverage to protect their assets. That said, the biggest difference is $19 between those who pay the least and the most, meaning New Mexico insurance companies don’t weigh credit as severely as in other states.

Credit TieAvg. Monthly Cost
Excellent$224
Good$220
Average$212
Poor$204

Rio Rancho, NM DMV Information

Have a DMV errand to run? When it comes to taking care of their DMV-related needs, New Mexico drivers can get things done using in-person services or online options. The Rio Rancho Motor Vehicle Division is located at 4000 Southern Blvd. SE, Suite 103. You can stop by Monday through Friday 8 a.m. to 6 p.m., and Saturday 9 a.m. to 3 p.m. Not a fan of standing around? You can make an appointment from your computer at home.

Public Transportation in Rio Rancho, NM

Rio Rancho residents depend on several modes of transportation if they are without their own ride. There are two bus services and a commuter train serving residents of the area. While Rio Metro buses get people to their appointments and shopping destinations inside city limits, New Mexico Rail Runner Express can take residents to Albuquerque and beyond. Catching the rail is easy. Neighboring Albuquerque’s ABQ Ride buses have a route between Rio Rancho and the rail.

Conclusion: How to get the best and cheapest car insurance in Rio Rancho, NM

Though living in Rio Rancho may be a dream, shopping insurance companies one data point at a time is a grind.

Is the scratch piece of paper you’ve been using to compare rates company after company really all that accurate? Using Insurify takes the guesswork out of comparing coverages and gets you the coverage you need quickly.

Insurify Rankings

Using a proprietary dataset of over 1.6 million car insurance shopper applications, the data scientists at Insurify have run various studies on driver behavior across geographical locations, age ranges, motor vehicle registration, and other variables all related to auto insurance coverage.

We’ve been able to determine the speediest cities in the nation, the most popular cars among age groups, and the occupations with the worst drivers, among other insightful reports. We’ve also launched annual awards campaigns to congratulate the communities across the country who have excelled in environmentally friendly initiatives, educational attainment, and other areas.

Here's how Rio Rancho stacks up for the state of New Mexico:

ford
Ford F-Series Pickup
Most Popular Car in
Rio Rancho, NM
suspended licenses
#10
Cities with Most
Suspended Licenses Rank

FAQs - Rio Rancho, NM Car Insurance

How do I know if I have the right amount of coverage in New Mexico?

Don’t worry too much about making sure you have the minimum required by state law, as the insurance companies are in the know and will do that work for you. A minimum liability policy may be right for you if that’s all you can afford, but there are optional coverages you’ll want to at least consider, as minimum liability policies only protect the other driver.

Is auto insurance expensive in New Mexico?

A lot goes into calculating your car insurance rate in New Mexico. Some of the factors are beyond your control, like your age, gender, or marital status. Insurance companies do use ZIP codes as part of the calculation. Your ZIP code tells them how much of a claims risk you might be based on crime rates and accident statistics where you live. You can keep your rates low by driving safely, comparison shopping for a less expensive policy, or even changing your deductible.

Does comprehensive coverage cover everything?

No. Even though the word itself tends to mean “full” or “complete,” in the insurance industry, it has a much more particular meaning. Comprehensive coverage covers things that might happen to your car outside of a collision—fires and floods included. Many times, these types of often costly events are also known as “acts of God.” Other types of coverage that you may buy depending on the state in which you live and personal preferences include bodily injury (BI) and property damage (PD) liability coverage, personal injury protection (PIP), collision coverage, and uninsured/underinsured motorist (UM/UIM) coverage.