Cheapest Car Insurance in New Mexico (Oct 2024)

American Family Insurance

property damage liability

Please note that popularity may vary based on individual preferences, coverage needs, and specific circumstances. It is always recommended to compare quotes and policies from multiple insurance providers to find the best fit for your needs.

Insurance company	Date	Cost rating (out of 5)	What our customer said:
Madison Mutual	October 9, 2024	5	"Gainsco is super amazing and super cheap. You get the same great coverage as the “bigger insurance” company’s for les...(read more)" -Mario
Allstate	October 9, 2024	5	"Great fil for this app and helping me save money!" -Alexander
DirectAuto	October 3, 2024	5	"My sister put me on her policy because i live with her and they were the ONLY insurance that offered the lowest rate ...(read more)" -Maria
Bristol West	September 30, 2024	4	"I’ve been paying way too much for minimal coverage under a major company for many years. My rate is less than half fo...(read more)" -Laura
Kemper	September 28, 2024	5	"I have only had my policy a short time and have had no issues. So far so good. I could suggest Kemper for friends and...(read more)" -Kate

Last Updated Oct 9, 2024

How'd we get these scores?
Jerry's experts conducted one of the largest car insurance surveys in the United States. We surveyed 15,000 policyholders, in all 50 states, over the span of 18 months. These policyholders hold insurance policies with 87 different insurance companies. We surveyed policyholders to gauge their satisfaction with their insurance carriers in: policy cost, customer service, buying and renewal experience, as well as claim experience. These scores were all reported by real customers of the insurance companies.

If you're seeking a quick and convenient method to compare car insurance quotes from multiple providers, consider using a car insurance comparison app or website.

One such

reputable option

is Jerry, an insurance agency that offers an intuitive app for auto owners to receive free quotes and explore a wide range of coverage options. Jerry goes beyond just providing quotes and extends comprehensive assistance, guiding you through the entire process, including policy registration and facilitating the cancellation of your existing policy if needed.

With Jerry, you can enjoy a seamless and hassle-free

insurance shopping

experience tailored to your specific requirements.

New Mexico Minimum Coverage Requirements

Like most states, New Mexico has some minimum

liability insurance

requirements that all drivers must meet before hitting the road. However, purchasing additional coverage is advisable, so you can be sure to be financially protected in all situations

Cheapest minimum liability coverage car insurance quotes in New Mexico

In New Mexico, the minimum car insurance requirements include:

$25,000 for

bodily injury liability

per person

$50,000 for bodily injury liability per accident

$10,000 for

per accident

Take a look at some New Mexicans—from

Las Cruces

Santa Fe

—who took advantage of the Jerry app to secure affordable minimum liability plans.

Andrew (22 years old)

Coverage

State Minimum

Jeep Grand Cherokee Lared

$188

per month

Joe (25 years old)

Coverage

State Minimum

Los Lunas, NM

Nissan Altima 2.5

$130

per month

Mike (76 years old)

Coverage

State Minimum

Rio Rancho, NM

KIA Forte FE

$231

per month

Albert (52 years old)

Coverage

State Minimum

Rio Rancho, NM

Hyundai Sonata Hybrid

$130

per month

State Auto

John (39 years old)

Coverage

State Minimum

Honda Civic SE

$146

per month

New Mexico insurance laws

Ophelia (22 years old)

Coverage

State Minimum

Las Cruces, NM

Hyundai Accent SE

$86

per month

Do you need more than minimum coverage in New Mexico?

It's often recommended to consider higher coverage limits than required by

to provide better financial protection in case of an accident. It's advisable to consult with an insurance professional to determine the appropriate coverage for your specific.

The bottom line: Insurance experts generally recommend purchasing at least 100/300/100 liability coverage for optimal protection—even if you choose to forego full coverage.

"Jerry is the new benchmark in app usefulness. Period. It is SO EASY and the results are SO GOOD, and they specifically point out that no one is going to start calling and emailing me all the time. I gave very little info, it pulled up all my existing insurance info, and showed me how to get the same insurance for less, lesser coverage for huge savings, or better coverage for about the same I currently pay. I am personally saving around $1,400/year with my new insurance, and the entire process (including follow ups to sign the docs from the insurance companies) took less than an hour. If you make over $1,400/hour, this may not be worth your time. Otherwise, get the app and use it now!"

Sean S.

| Verified Jerry Customer

Lower my car insurance too!

Cheapest full coverage car insurance quotes in New Mexico

Full coverage car insurance is highly recommended, and typically required if you use an auto lender to

purchase your vehicle

Comprehensive

and

collision coverage

are included in a full coverage insurance policy. Collision coverage helps cover the costs of repairing or replacing your vehicle if it's damaged in an accident. In contrast, comprehensive coverage provides protection for damages caused by events like vandalism, environmental factors, and even theft.

The following table provides a list of samples of

affordable full coverage policies

that Jerry users have purchased

Insurance Coverage	Insurance Company	Premium (monthly)	Customer	Car
• 100,000/300,000 Liability • Comp / Collision	Progressive	$139	Donald, 38 Kirtland, NM	Jeep Cherokee Limited
• State Minimum Liability • Comp / Collision	Travelers	$130	Albert, 52 Rio Rancho, NM	Hyundai Sonata Hybrid
• 50,000/100,000 Liability • Comp / Collision	Nationwide	$170	Roger, 42 Albuquerque, NM	Ford F350 SRW Super Duty
• 50,000/100,000 Liability • Comp / Collision	Safeco	$120	Allen, 62 Silver City, NM	RAM 3500 ST
• 50,000/100,000 Liability • Comp / Collision	Allstate	$166	Jordan, 29 Albuquerque, NM	Dodge Challenger SXT

Last Updated Oct 9, 2024

Average rates for state minimum liability coverage and full coverage

New Mexico drivers pay an average of $0 for minimum coverage and $0 for full coverage car insurance per year. That translates to just under $0 a month for a liability only policy, and about $0 a month for full coverage.

Although average insurance rates can provide a general estimation of your insurance costs, it's crucial to understand that individual drivers' premiums are influenced by several factors. These factors include the type of vehicle, driving record, claims history, and demographic information. As a result, the actual insurance expenses for each driver can vary significantly.

New Mexico car insurance: Additional coverages

On top of collision and comprehensive coverage, you may wish to consider some additional forms of optional insurance, such as:

Medical payments (MedPay)

Personal injury protection (PIP)

Underinsured and uninsured motorist coverage

Towing and labor

Rental reimbursement coverage

If you have financed your vehicle with a loan, it is highly recommended to consider

gap insurance

. Gap insurance offers valuable coverage in scenarios where the remaining loan balance exceeds the actual value of the vehicle. This type of coverage provides financial protection in the event of a total loss or theft of your car, ensuring that you are not left with a significant financial burden.

If you frequently rent or borrow vehicles instead of owning or leasing one, it is strongly advised to consider

non-owner car insurance

. Non-owner car insurance provides essential liability coverage for bodily injury and property damage in the event of an at-fault accident. It is important to note that this type of insurance does not cover damages to the vehicle you are driving or expenses related to your personal injuries.

Not in New Mexico?

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Wyoming car insurance

Car insurance premium by rating factors

There are several factors that can influence your

car insurance rates

in New Mexico. These factors include:

Age and driving experience: Young and inexperienced drivers often have higher insurance rates due to their higher risk of accidents.

Vehicle type: The make, model, and year of your vehicle can affect insurance rates. Expensive and high-performance cars tend to have higher premiums.

Driving record: Your driving history, including accidents, traffic violations, and claims, can impact your insurance rates. A clean driving record generally leads to lower premiums.

Coverage options: The type and amount of coverage you choose will affect your insurance rates. Opting for comprehensive coverage or higher liability limits will typically result in higher premiums.

Credit history: In some states, including New Mexico, auto insurance companies may consider your credit history when determining your rates. A good credit score can help lower your premiums.

Location: Where you live and park your vehicle can affect your rates. Areas with higher crime rates or higher traffic congestion may have higher insurance premiums.

Deductible amount: The deductible is the amount you pay out of pocket before your insurance coverage kicks in. Choosing a higher deductible can lower your premiums but also means you'll pay more in the event of a claim.

Marital status: Married individuals often receive lower insurance rates compared to single drivers, as statistics show that married individuals are involved in fewer accidents.

Annual mileage: The number of miles you drive per year can impact your insurance rates. Higher mileage generally leads to higher premiums, as it increases your risk of being involved in an accident.

Claims history: If you have a history of filing multiple insurance claims, insurance companies may view you as a higher risk and charge higher premiums.

It's important to note that each insurance company may weigh these factors differently, so it's always a good idea to shop around and compare quotes from multiple insurers to find the best rates for your specific circumstances.

How Do Different Factors Impact Your Car Insurance Costs in New Mexico?

Allowed (with applicable limitations): Gender, age, driving experience, credit history, education, occupation, employment status, marital status, zip code, insurance history

Prohibited (or effectively prohibited): New Mexico currently does not disallow any common insurance rating factors when calculating insurance premiums.

Learn more abut the car insurance rating factors in New Mexico:

Cheapest New Mexico car Insurance after a driving violation

Your driving record plays a vital role in determining the quotes for your car insurance. When insurance companies observe a history of violations, they perceive you as a

high-risk driver

, which can result in increased insurance premiums being charged to you.

Cheapest car insurance for New Mexico drivers with a speeding ticket

The law generally classifies speeding violations in terms of various levels depending on how much the speed limit was surpassed. Levels generally include 1-5 MPH over the limit, 6-10 MPH over the limit, 11-15 MPH over the limit, 16-20 MPH over the limit, and exceeding the speed limit by more than 21 MPH.

Although a

speeding ticket

is likely to increase your insurance premiums, Jerry is a useful resource for keeping costs as affordable as possible.

Regardless of the offense, these Alabama drivers had luck finding insurance at the following companies with Jerry:

Speeding Type	Insurance Company	Premium (monthly)	Customer	Insurance Coverage
Speeding 1-5	Progressive	$96	Henrietta, 26 High Rolls, NM	• 100,000/300,000 Liability
Speeding 16-20	Nationwide	$85	Evelyn, 53 Alamogordo, NM	• State Minimum Liability • Comp / Collision

Last Updated Oct 10, 2024

Over 3,500,000 customers and counting

We’ve earned an App Store rating of 4.7 stars for all we do to make car ownership easier.

Low and affordable monthly rate

Savannah-2

Very good insurance company

Vincent

Great customer service

Michelle

Grateful for this app and helping me save money!

Aaron

Cheapest auto insurance in New Mexico after a DUI

In New Mexico,

DUI violations

generally result in a significant rise in car insurance rates compared to other violations. After a DUI, it is often necessary to compare rates from multiple insurance providers to find the most affordable options.

Jerry can simplify the process of finding the cheapest provider, making it easier for you to secure the best insurance rates following a DUI.

Gussie (34 years old)

DUI

Coverage

State Minimum

Grants, NM

Mazda 3

$72

per month

New Mexico is an at-fault state

Glen (42 years old)

DUI

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Espanola, NM

Hyundai Elantra

$76

per month

New Mexico SR-22 insurance

New Mexico requires an

SR-22 form

for certain drivers. An SR-22 is a document that verifies that a driver has the minimum liability insurance required by the state. It is typically required for drivers who have been convicted of certain violations, such as DUI or driving without insurance.

The SR-22 form is filed by the insurance company with the New Mexico Motor Vehicle Division (MVD) to demonstrate compliance with the state's insurance requirements.

Predictably, those with SR-22 forms are considered high-risk drivers, which means they’ll see an increase in their car insurance rates. Use Jerry to shop around for the most affordable policy that’s willing to provide you with all of the necessary documentation to get you back on the road.

Cheapest New Mexico auto Insurance after an at-fault accident

Your car insurance premiums are greatly impacted by your car accident and claims history

Insurance providers thoroughly examine your previous at-fault accidents to evaluate the level of risk you pose as an insured driver. If you have recently been involved in an at-fault accident, there is a possibility that your car insurance rates may undergo a significant increase.

Accident Type	Insurance Company	Premium (monthly)	Customer	Insurance Coverage
At Fault With Injury	Progressive	$208	Theresa, 36 Deming, NM	• State Minimum Liability • Comp / Collision
At Fault With No Injury	Safeco	$192	Virginia, 35 Albuquerque, NM	• 50,000/100,000 Liability • Comp / Collision
Not At Fault	Travelers	$83	Eula, 60 Albuquerque, NM	• 100,000/300,000 Liability • Comp / Collision
At Fault With No Injury	Allstate	$183	Mina, 43 Farmington, NM	• 100,000/300,000 Liability • Comp / Collision
At Fault With Injury	Progressive	$100	Claudia, 63 Ruidoso, NM	• 50,000/100,000 Liability • Comp / Collision

Last Updated Oct 10, 2024

FAQ

Is New Mexico an at-fault state?

Yes,

for car insurance purposes. This means that in the event of a car accident, the driver who is found to be at fault is responsible for covering the damages and injuries resulting from the accident. The at-fault driver's insurance typically pays for the losses of the other party involved in the accident.

The bottom line: Your insurance providers will determine who is at fault for an accident before covering the damages resulting from the collision.

Cheapest auto insurance after other violations in new Mexico

Apart from speeding tickets and DUIs, other violations such as

reckless driving

and driving with a suspended license can also result in increased car insurance costs in New Mexico.

We have created a comprehensive list of different driving infractions and how we have assisted drivers in finding cheap auto insurance, even with these offenses on their record.

Violation	Insurance Company	Premium (monthly)	Customer	Car	Insurance Coverage
Careless Driving	Progressive	$76	Maurice, 58 Hobbs, NM	Chevrolet Equinox LS	• State Minimum Liability • Comp / Collision
Cell Phone	Progressive	$150	Theresa, 33 Santa Fe, NM	Nissan Sentra S	• State Minimum Liability • Comp / Collision
Defective Equipment	Bristol West	$105	Winifred, 22 Las Cruces, NM	Audi A4 2.0T Quattro	• State Minimum Liability
Driving on Sus. License	National General	$141	Lulu, 52 Albuquerque, NM	Acura MDX Advance	• State Minimum Liability
DUI	Allstate	$108	Arthur, 36 Rio Rancho, NM	Chevrolet Trax LS	• State Minimum Liability • Comp / Collision
Failure to Obey Signal	National General	$141	Leonard, 52 Albuquerque, NM	Acura MDX Advance	• State Minimum Liability
Improper Passing	Gainsco	$110	Donald, 30 Alamogordo, NM	Volkswagen Passat SE	• State Minimum Liability
Leaving scene of an Accident/Hit and Run	Progressive	$329	Milton, 21 Hobbs, NM	Volkswagen Golf R	• State Minimum Liability • Comp / Collision
Open Container	Bristol West	$78	Lydia, 27 Los Lunas, NM	Chevrolet Silverado C2500 Heavy Duty	• State Minimum Liability
Speeding 16-20	Nationwide	$85	Garrett, 53 Alamogordo, NM	Dodge Journey SXT	• State Minimum Liability • Comp / Collision
Speeding Violation-Minor	Safeco	$161	Loretta, 30 Espanola, NM	Dodge Journey SE	• State Minimum Liability • Comp / Collision
Suspension	Progressive	$116	Tony, 50 Albuquerque, NM	Dodge Durango Limited	• State Minimum Liability • Comp / Collision
Other Minor	Safeco	$183	Ollie, 25 Chaparral, NM	Mazda 6 Sport	• State Minimum Liability • Comp / Collision

Last Updated Oct 10, 2024

Cheapest New Mexico auto insurance based on insurance history

Your insurance history is a significant factor in determining your car insurance rates, especially in terms of whether you’ve had consistent coverage or not.

Typically, having

a gap in your insurance coverage

leads to higher insurance rates. To support our customers in making timely insurance payments and preventing coverage gaps, Jerry sends payment reminders to eligible customers. These reminders are sent when a payment is approaching or if they have fallen behind on their payments.

Rest assured—Jerry has effectively aided many customers who are currently uninsured or have experienced coverage lapses in securing new affordable policies.

Bertha (39 years old)

Currently Insured

Coverage

100,000 per person

300,000 per accident bodily injury

Comp / Collision

KIA Sorento EX

$125

per month

Jeremy (25 years old)

Not Currently Insured

Coverage

100,000 per person

300,000 per accident bodily injury

Comp / Collision

Bosque Farms, NM

Dodge Charger Police

$281

per month

Harold (28 years old)

Currently Insured

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Dodge Challenger SXT

$166

per month

Max (31 years old)

Not Currently Insured

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Mazda 6 Touring

$295

per month

Clearcover

Noah (30 years old)

Currently Insured

Coverage

30,000 per person

60,000 per accident bodily injury

Comp / Collision

Glorieta, NM

Chevrolet Malibu LT

$206

per month

Gainsco

Louise (25 years old)

Not Currently Insured

Coverage

State Minimum

Hobbs, NM

Nissan Rogue S

$63

per month

Cheapest car insurance for drivers with poor credit

In the state of New Mexico, individuals with lower credit scores typically experience higher insurance costs compared to those with higher credit ratings, despite the fact that

credit scores

do not directly reflect driving proficiency. Insurance companies have observed a correlation between bad credit and an increased frequency of filed claims by drivers.

According to our data, the average car insurance premium nationwide for individuals in the highest credit bracket (above 750) is roughly 20% higher than the average cost for individuals in the lowest credit bracket (with scores below 550).

Credit Range	Insurance Company	Premium (monthly)	Customer	Car	Insurance Coverage
> 750	Progressive	$132	Hulda, 24 New Laguna, NM	Nissan Sentra S	• State Minimum Liability • Comp / Collision
660 - 750	Allstate	$86	Elsie, 32 Santa Fe, NM	Subaru Legacy 2.5I Limited	• State Minimum Liability • Comp / Collision
550 - 659	Travelers	$128	Edith, 45 Hobbs, NM	Volkswagen Tiguan S	• 50,000/100,000 Liability • Comp / Collision
< 550	Safeco	$161	Eleanor, 30 Espanola, NM	Dodge Journey SE	• State Minimum Liability • Comp / Collision

Last Updated Oct 10, 2024

Cheapest New Mexico car insurance by age

Young drivers and those with permits or other types of

provisional licenses

typically encounter considerably high insurance rates due to their limited driving experience. However, as individuals approach the age of 25, their insurance premiums generally begin to become more affordable. Then, once motorists reach the age of 75, car insurance costs are likely to rise again.

Cheapest New Mexico car insurance for young drivers

In New Mexico, teen drivers aged 16 to 19 tend to experience the highest insurance rates compared to other age groups.

For teenage drivers who own newer vehicles, higher minimum coverage levels and/or full coverage insurance are recommended. This suggestion is based on the higher probability of teenagers being involved in accidents compared to other age groups. Full coverage insurance offers increased financial protection in such circumstances.

Glenn (22 years old)

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Holloman Air Force Base, NM

Volkswagen Jetta SE

$323

per month

Garrett (24 years old)

Coverage

State Minimum

Dodge Avenger SE

$118

per month

Ophelia (22 years old)

Coverage

State Minimum

Las Cruces, NM

Hyundai Accent SE

$86

per month

Gainsco

Sallie (24 years old)

Coverage

State Minimum

Santa Cruz, NM

KIA Optima LX

$110

per month

National General

Leroy (24 years old)

Coverage

30,000 per person

60,000 per accident bodily injury

Toyota Scion XB

$131

per month

Dairyland

Lilly (21 years old)

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Hobbs, NM

Volkswagen Golf R

$521

per month

Cheapest New Mexico car insurance for senior drivers

Average premiums often tend to increase once a driver reaches their mid-70s. Older drivers have a higher vulnerability to accidents and are more prone to sustaining severe injuries in the event of a collision. As a result, insurance companies incur significant medical expenses and higher costs, leading to elevated car insurance rates.

Carolyn (70 years old)

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Anthony, NM

Nissan Rogue SL

$70

per month

Francisco (66 years old)

Coverage

State Minimum

Belen, NM

Volkswagen NEW GTI

$87

per month

Winifred (67 years old)

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Santa Teresa, NM

Jeep Grand Cherokee Laredo

$137

per month

Willie (76 years old)

Coverage

State Minimum

Rio Rancho, NM

KIA Forte FE

$231

per month

Miguel (65 years old)

Coverage

100,000 per person

300,000 per accident bodily injury

Comp / Collision

Nissan Titan S

$173

per month

Gainsco

Kenneth (73 years old)

Coverage

State Minimum

Dexter, NM

Chevrolet Cruze Limited LT

$67

per month

Cheapest car insurance for popular cars

The car, SUV, or truck you drive plays a crucial role in determining your car insurance premiums. Various factors related to the type of car influence insurance costs, such as repair or replacement expenses, the risk of theft, and the overall safety performance of the vehicle.

Popular makes and models for New Mexicans looking to save money include:

Honda Civic

Nissan Rogue

Ford Bronco

Chevrolet Silverado 1500

Toyota Corolla

Popular Car	Insurance Company	Premium (monthly)	Customer	Insurance Coverage
Honda Civic LX	Progressive	$170	Ann, 31 Laguna, NM	• State Minimum Liability • Comp / Collision
Toyota Corolla L	Travelers	$125	Charlie, 24 Silver City, NM	• 50,000/100,000 Liability • Comp / Collision

Last Updated Oct 8, 2024

Car insurance cost for new vs. old car

Typically, insuring a brand new car tends to be more expensive than insuring an older or used car. Based on our research, the average annual cost of full coverage insurance for a vehicle that is over 10 years old in New Mexico is approximately 22% cheaper compared to the average cost of insuring a car that is younger than four years old.

Phoebe (40 years old)

2005 Chevrolet Trailblazer LS

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Roswell, NM

$97

per month

Frank (38 years old)

2004 Nissan Maxima SE

Coverage

State Minimum

Hobbs, NM

$130

per month

Safeco

Theresa (27 years old)

2004 Mazda 3 S

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

$145

per month

Safeco

Lillie (25 years old)

1996 Toyota RAV4

Coverage

100,000 per person

300,000 per accident bodily injury

Comp / Collision

Deming, NM

$127

per month

Gainsco

Minnie (49 years old)

2004 Nissan Sentra 1.8

Coverage

State Minimum

Rio Rancho, NM

$86

per month

Anne (23 years old)

2003 Mercedes-Benz C 240 4matic

Coverage

State Minimum