Car Insurance in New Mexico

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Looking for cheap car insurance in New Mexico?

New Mexico offers up some unique geography and a culture all its own—but a bustling tourist economy, congested urban areas, and a high percentage of uninsured drivers can contribute to higher car insurance rates for New Mexico drivers.
Where you live is just one of the factors that influence your annual insurance premium, though. So whether you’re in a hotspot like Albuquerque or Santa Fe or somewhere a bit quieter, comparing rates from multiple providers can ensure that you find the best deal—and Jerry can help with that.
Jerry is an insurance comparison app and licensed broker that compares rates from more than 50 insurers and helps you finalize your new policy. Jerry handles the paperwork and phone calls so that you don’t have to, and even monitors your rates before renewal to ensure you’re getting the best deal.
Need some proof? Here are some quotes from real Jerry customers in New Mexico:
Quote DateCarCityAgeCarrier
Before Jerry
After Jerry
December 29, 2020Lincoln Town Car Signature LimitedLas Cruces22Kemper$170/mo.$81/mo.
June 13, 2021Nissan Rogue STaos48Progressive$168/mo.$81/mo.
May 30, 2021Toyota C-Hr XLELas Cruces39Progressive$143/mo.$89/mo.
September 2, 2021Chevrolet Silverado C1500Albuquerque30Progressive$185/mo.$97/mo.
September 14, 2021Mini Cooper S CountrymanRio Rancho50Travelers$162/mo.$134/mo.
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How much does car insurance cost in New Mexico?

The average cost of basic liability car insurance in New Mexico is $1,701 per year. Opting for full-coverage car insurance in New Mexico will leave you with an average cost of $2,033 per year.

How does the annual cost in New Mexico compare to the rest of the country?

In comparison, the national average is $1,764 per year to buy basic liability car insurance and $2,486 per year to buy full-coverage car insurance.
Why is car insurance so expensive in New Mexico? A few main factors are responsible:
  • Almost 22% of drivers in the state are uninsured
  • City centers like Santa Fe and Albuquerque have high population densities
  • Congested roadways increase the risk of accidents and claims
Here’s how the insurance savings with Jerry in New Mexico compare to nationwide averages:
All Coverage Before Jerry
All Coverage After Jerry
Minimum Coverage Before Jerry
Minimum Coverage After Jerry
Full Coverage Before Jerry
Full Coverage After Jerry
NM$2,064$1,390$2,387$1,106$2,189$1,606
National Average$2,491$1,672$2,359$1,390$2,763$1,962
NMNational Average
All Coverage Before Jerry
$2,064$2,491
All Coverage After Jerry
$1,390$1,672
Minimum Coverage Before Jerry
$2,387$2,359
Minimum Coverage After Jerry
$1,106$1,390
Full Coverage Before Jerry
$2,189$2,763
Full Coverage After Jerry
$1,606$1,962
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Top auto insurance providers in New Mexico

Lots of reputable insurance companies serve drivers in the Land of Enchantment, including big names like State Farm, Allstate, and USAA.
That said, it can take a bit of effort to find the right insurance company for you. Insurers have unique formulas to calculate risk—and hence, your premiums. So if you collect quotes from five different insurance companies, you’re likely to end up with five different rates for identical coverage.
Factors like your age, driving history, and location all influence your annual premium. And the car you drive makes a difference, too. Driving an Audi A8, for example, will net you a higher full-coverage insurance rate than a Mazda 3 simply because more expensive cars cost more to insure.
Jerry customers have found some great deals with various insurance companies in New Mexico. Take a look:
Insurance Company
Average Cost
Annual Savings with Jerry
Kemper$3,339$883Compare Prices
Safeco$2,593$700Compare Prices
Travelers$2,270$524Compare Prices
Nationwide$2,395$510Compare Prices
Allstate$2,060$432Compare Prices
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What car insurance do you need in New Mexico?

Almost all states have mandatory minimum insurance that you must purchase to legally drive. In New Mexico, you need at least the following:
CoverageAmountDescription
Bodily injury liability$25,000 per person / $50,000 per accidentCovers the costs associated with injuries you cause to others
Property damage liability$10,000 per accidentCovers the costs associated with damage you cause to other people’s vehicles or property
If you hit the road without the minimum requirements and get caught, you’ll face penalties including:
  • Fine of up to $300
  • Up to 90 days in jail
  • Suspension of registration and license plate
  • Financial liability in the event of an accident
It’s always a good idea to purchase as much coverage as you can afford. Here are some helpful options:
CoverageDescription
Collision insuranceCovers damages that are the result of a collision with a vehicle or stationary object
Comprehensive insuranceCovers damages that aren’t the result of a collision, such as vandalism, theft, or a natural disaster
Uninsured motorist coverageReimburses you for your expenses from an accident caused by an uninsured driver
Personal injury protectionCovers medical expenses, lost wages, and rehabilitation costs after an accident
Rental reimbursementReimburses you for your rental car expenses while your car is being repaired after a claimable accident
When you want to purchase a policy (or shop around for a better deal than you’re currently getting), let Jerry help you.
Jerry is the super app that helps you save time and money on your car expenses, including insurance. Jerry collects quotes from 50+ providers like Travelers and Safeco and shows you the best deals. Once you find a policy you like, Jerry takes care of the switch from start to finish.
Now that you know what type of insurance you need, let’s break down the factors that impact the cost.

How is your cost of car insurance determined in New Mexico?

A variety of factors come together to impact your insurance rates, but age, driving record, location, and the type of vehicle you drive are some of the most important.

Cost to insure your car in New Mexico by age

When it comes to insurance, experience is key. Insurers value drivers with experience since they are less likely to get into accidents or engage in risky driving behaviors.
Young drivers are statistically more likely to be involved in an accident, drive impaired or distracted, and fail to wear seatbelts. For these reasons, they’re considered high-risk drivers and face steep insurance rates.
What young drivers in New Mexico need to know
  • New Mexico’s graduated licensing law helps give young drivers more experience behind the wheel and limits driving in high-risk situations before teens obtain a full license
  • Taking a defensive driving course can reinforce safe driving behaviors and help lower insurance rates for young drivers
  • Maintaining a good average can qualify student drivers for a good student discount
While it’s unlikely that young drivers will find rates as low as their parents’, shopping around and maintaining a clean driving record can go a long way to reducing premiums.
No matter your age, comparison shopping with Jerry is the best place to start. Here are the average rates for drivers by age:
Age Group
Average Cost
Annual Savings with Jerry
18-20$3,048$1,004
21-24$2,632$956
25-34$2,508$962
35-44$2,361$853
45-54$2,172$893
55-64$2,633$894
65+$1,773$833
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Cost to insure your car in New Mexico with a poor driving record

Your driving record gives insurance companies a sense of your risk level. If you have accidents, speeding tickets, and serious offenses like a reckless driving conviction on your record, you can expect expensive New Mexico car insurance rates.
So, can you save money on car insurance if you have driving violations? Sure—and comparing rates using a tool like Jerry is the best way to find a deal.
Here’s just a sample of the savings that Jerry customers with poor driving records have found:
Driving Violation
Average Cost
Annual Savings with Jerry
Clean Record$2,401$745
Speeding under 15$3,323$1,296
Improper Passing$2,310$1,184
Defective Equipment$2,400$584
Failure to Obey Traffic Sign$1,637$429
DUI$1,967$418
Careless Driving$1,200$132
Other$3,382$1,489
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Cost to insure your car in New Mexico based on where you live

While New Mexico as a whole isn’t densely populated, it has some busy urban centers that are. Albuquerque, for example, has over 3,000 people per square mile! And incoming tourists contribute to traffic problems in the warmer months.
This means that where you live will have an impact on your car insurance rate.
Generally speaking, drivers in cities tend to pay more than those in rural areas since urban centers have higher rates of accidents, thefts, and claims.
These are the top 10 cheapest cities for car insurance in New Mexico:
City
Average Cost
Annual Savings with Jerry
Albuquerque$2,551$943
Artesia$1,596$412
Carlsbad$2,181$880
Clovis$2,030$711
Hobbs$3,646$1,581
Las Cruces$2,225$800
Rio Rancho$1,957$622
Roswell$1,880$611
Santa Fe$2,692$1,197
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Cost to insure your car in New Mexico based on the type of car you drive

Finally, the type of car you have will also influence how much you pay for insurance. Sticking with something fairly average, such as a Ford Fusion or Mazda CX-5 will usually land you with reasonable rates.
Relatively inexpensive cars come with lower insurance premiums because they cost less to repair or replace if you’re in an accident. And driving less can also save you money, since you’re less likely to get into an accident.
If your ride is something like a Tesla or Mercedes, though, you can expect to pay higher premiums.
Here’s what it costs to insure some popular makes and models with and without Jerry:
Car
Average Cost
Annual Savings with Jerry
Toyota Camry L$3,769$1,664
Jaguar F-Type R$3,222$971
Hyundai Elantra SE$2,488$945
Kia Telluride S$1,800$574
Ford Fusion SE Hybrid$1,772$536
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How to save money on car insurance in New Mexico

With high car insurance rates across the state, it’s nice to find savings on your annual premium. Lucky for you, there are some easy ways to bring those prices down.

Shop around for quotes

If you only do one thing to lower your rates, make it comparison shopping. It’s easily the top way to ensure you’re getting the best price for your insurance coverage—and Jerry makes it easy.
Jerry is the super app that helps you save time and money on your car expenses, including insurance. Once you sign up, Jerry will browse quotes from more than 50 insurers to find you great deals. When you’re ready to move forward, Jerry handles your switchover from start to finish so that you don’t have to deal with any hassles.

Look for discounts

Almost all insurance companies offer discounts—and many let you stack them to amp up your savings. Here are some of the most popular ones for drivers in New Mexico:
Discount typeWho is eligible?
Driver safety discountsDrivers in New Mexico who have been accident-free for several years can usually get a “safe driver” discount.
Defensive driving discountsNew Mexico drivers can qualify for a 5% discount by taking an approved defensive driving course. The course teaches how to avoid accidents, assess weather and traffic conditions, and drive safely. Check with your provider about approved programs.
Good student discountsIf you’re under 25 and a full-time student, you could get a huge discount on your car insurance premium. There’s also a “student away at school” discount for families where a child under 25 lives away from home and only drives during vacations.
Bundling your policiesGet your car and home policies from the same company and you could enjoy a reduced premium
Telematics programsBy installing a small device in your car to track driving behavior, New Mexico drivers can get rewards and discounts just for driving safely! It’s free to enroll and the company ships the device right to your doorstep.
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Increase your deductible

Your deductible is what you need to pay for a claim before your insurance company kicks in. And increasing your deductible (often from $500 to $1000) can save you a good chunk on your insurance premium.
If you’re going to do this, make sure that you can afford to pay the deductible in full each time you have to make a claim. Otherwise, you could find yourself in financial trouble if you get into an accident.

Registering your car in New Mexico

To register a car in New Mexico, bring the following to the MVD:
  • Valid driver’s license or ID card
  • Proof of insurance
  • Proof of sales tax payment
  • Car title or signed lease agreement
  • Application for vehicle registration
  • Smog check certificate, if applicable
In New Mexico, you must renew your vehicle registration annually. You can do it online, by mail, or in person at an MVD field office.

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