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Cheapest Car Insurance in New Mexico (Oct 2024)

Compare 50+ top insurance companies including Progressive, Travelers, AAA, Nationwide (and more!) to find the best and cheapest car insurance in New Mexico.
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R.E. Fulton
Licensed Insurance Agent —Senior Content Writer
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Reviewed by Josh Damico, Vice President Insurance Operations
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Edited by Lina Zhang, Licensed Insurance Agent, VP of Operations

How to find the cheapest car insurance quotes in New Mexico

One of the best ways to reduce your auto-related expenses is to find an affordable car insurance policy. It's essential to understand that there is no one-size-fits-all "cheapest" insurance provider for every driver. To secure personalized coverage at the best price, it's important to actively compare quotes from different insurance companies before making a decision.
Fortunately,
Jerry Insurance Agency
is available to assist drivers in New Mexico. Their user-friendly insurance comparison app enables you to easily explore and evaluate multiple quotes. With their support, you can efficiently analyze your options and select an insurance policy that aligns with your specific needs and budget.
Insurance CompanyPremium (monthly)CustomerCarInsurance Coverage
Safeco
$173
Tesla Model 3
• State Minimum Liability
• Comp / Collision
Allstate
$166
Dodge Challenger SXT
• 50,000/100,000 Liability
• Comp / Collision
Nationwide
$170
Ford F350 SRW Super Duty
• 50,000/100,000 Liability
• Comp / Collision
Mercury
$139
Ford F150 Super Cab
• 50,000/100,000 Liability
• Comp / Collision
Clearcover
$261
Dodge Dart SXT Sport
• 100,000/300,000 Liability
• Comp / Collision
coverageLast Updated Oct 10, 2024

Cheapest car insurance companies in New Mexico

Jerry conducted an extensive survey of auto insurance providers in New Mexico to help you identify the company that offers the most competitive rates. This survey is the largest of its kind in the nation and aims to assist you in making an informed decision about your insurance coverage.
Ultimately, there is no single car insurance company that can be considered the best or cheapest for every driver. Instead, insurance rates are highly personalized and vary depending on individual circumstances.
Some of the most popular car insurance providers in New Mexico include:
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 companyDateCost 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
coverageLast Updated Oct 9, 2024
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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:
Take a look at some New Mexicans—from
Las Cruces
to
Santa Fe
—who took advantage of the Jerry app to secure affordable minimum liability plans.
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Andrew (22 years old)
coverageCoverage
State Minimum
carJeep Grand Cherokee Lared
$188
per month
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Joe (25 years old)
coverageCoverage
State Minimum
carNissan Altima 2.5
$130
per month
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Mike (76 years old)
coverageCoverage
State Minimum
locationRio Rancho, NM
carKIA Forte FE
$231
per month
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Albert (52 years old)
coverageCoverage
State Minimum
locationRio Rancho, NM
carHyundai Sonata Hybrid
$130
per month
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John (39 years old)
coverageCoverage
State Minimum
carHonda Civic SE
$146
per month
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Ophelia (22 years old)
coverageCoverage
State Minimum
locationLas Cruces, NM
carHyundai 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
New Mexico insurance laws
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.
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 CoverageInsurance CompanyPremium (monthly)CustomerCar
• 100,000/300,000 Liability
• Comp / Collision
Progressive
$139
Jeep Cherokee Limited
• State Minimum Liability
• Comp / Collision
Travelers
$130
Hyundai Sonata Hybrid
• 50,000/100,000 Liability
• Comp / Collision
Nationwide
$170
Ford F350 SRW Super Duty
• 50,000/100,000 Liability
• Comp / Collision
Safeco
$120
RAM 3500 ST
• 50,000/100,000 Liability
• Comp / Collision
Allstate
$166
Dodge Challenger SXT
coverageLast 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:
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.

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?

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Allowed (with applicable limitations): Gender, age, driving experience, credit history, education, occupation, employment status, marital status, zip code, insurance history
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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 TypeInsurance CompanyPremium (monthly)CustomerInsurance Coverage
Speeding 1-5
Progressive
$96
• 100,000/300,000 Liability
Speeding 16-20
Nationwide
$85
• State Minimum Liability
• Comp / Collision
coverageLast 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.
Progressive
Low and affordable monthly rate
Savannah-2
Dairyland
Very good insurance company
Vincent
Progressive
Great customer service
Michelle
Allstate
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.
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Gussie (34 years old)
DUI
coverageCoverage
State Minimum
$72
per month
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Glen (42 years old)
DUI
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
$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 TypeInsurance CompanyPremium (monthly)CustomerInsurance Coverage
At Fault With Injury
Progressive
$208
• State Minimum Liability
• Comp / Collision
At Fault With No Injury
Safeco
$192
• 50,000/100,000 Liability
• Comp / Collision
Not At Fault
Travelers
$83
• 100,000/300,000 Liability
• Comp / Collision
At Fault With No Injury
Allstate
$183
• 100,000/300,000 Liability
• Comp / Collision
At Fault With Injury
Progressive
$100
• 50,000/100,000 Liability
• Comp / Collision
coverageLast Updated Oct 10, 2024

FAQ

Yes,
New Mexico is an at-fault state
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.
ViolationInsurance CompanyPremium (monthly)CustomerCarInsurance Coverage
Careless Driving
Progressive
$76
Chevrolet Equinox LS
• State Minimum Liability
• Comp / Collision
Cell Phone
Progressive
$150
Nissan Sentra S
• State Minimum Liability
• Comp / Collision
Defective Equipment
Bristol West
$105
Audi A4 2.0T Quattro
• State Minimum Liability
Driving on Sus. License
National General
$141
Acura MDX Advance
• State Minimum Liability
DUI
Allstate
$108
Chevrolet Trax LS
• State Minimum Liability
• Comp / Collision
Failure to Obey Signal
National General
$141
Acura MDX Advance
• State Minimum Liability
Improper Passing
Gainsco
$110
Volkswagen Passat SE
• State Minimum Liability
Leaving scene of an Accident/Hit and Run
Progressive
$329
Volkswagen Golf R
• State Minimum Liability
• Comp / Collision
Open Container
Bristol West
$78
Chevrolet Silverado C2500 Heavy Duty
• State Minimum Liability
Speeding 16-20
Nationwide
$85
Dodge Journey SXT
• State Minimum Liability
• Comp / Collision
Speeding Violation-Minor
Safeco
$161
Dodge Journey SE
• State Minimum Liability
• Comp / Collision
Suspension
Progressive
$116
Dodge Durango Limited
• State Minimum Liability
• Comp / Collision
Other Minor
Safeco
$183
Mazda 6 Sport
• State Minimum Liability
• Comp / Collision
coverageLast 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.
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Bertha (39 years old)
Currently Insured
coverageCoverage
100,000 per person
300,000 per accident bodily injury
Comp / Collision
carKIA Sorento EX
$125
per month
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Jeremy (25 years old)
Not Currently Insured
coverageCoverage
100,000 per person
300,000 per accident bodily injury
Comp / Collision
locationBosque Farms, NM
carDodge Charger Police
$281
per month
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Harold (28 years old)
Currently Insured
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
carDodge Challenger SXT
$166
per month
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Max (31 years old)
Not Currently Insured
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
carMazda 6 Touring
$295
per month
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Clearcover
Noah (30 years old)
Currently Insured
coverageCoverage
30,000 per person
60,000 per accident bodily injury
Comp / Collision
locationGlorieta, NM
carChevrolet Malibu LT
$206
per month
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Gainsco
Louise (25 years old)
Not Currently Insured
coverageCoverage
State Minimum
carNissan 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 RangeInsurance CompanyPremium (monthly)CustomerCarInsurance Coverage
> 750
Progressive
$132
Nissan Sentra S
• State Minimum Liability
• Comp / Collision
660 - 750
Allstate
$86
Subaru Legacy 2.5I Limited
• State Minimum Liability
• Comp / Collision
550 - 659
Travelers
$128
Volkswagen Tiguan S
• 50,000/100,000 Liability
• Comp / Collision
< 550
Safeco
$161
Dodge Journey SE
• State Minimum Liability
• Comp / Collision
coverageLast 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.
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Glenn (22 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
locationHolloman Air Force Base, NM
carVolkswagen Jetta SE
$323
per month
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Garrett (24 years old)
coverageCoverage
State Minimum
carDodge Avenger SE
$118
per month
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Ophelia (22 years old)
coverageCoverage
State Minimum
locationLas Cruces, NM
carHyundai Accent SE
$86
per month
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Gainsco
Sallie (24 years old)
coverageCoverage
State Minimum
locationSanta Cruz, NM
carKIA Optima LX
$110
per month
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Leroy (24 years old)
coverageCoverage
30,000 per person
60,000 per accident bodily injury
carToyota Scion XB
$131
per month
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Lilly (21 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
$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.
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Carolyn (70 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
locationAnthony, NM
carNissan Rogue SL
$70
per month
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Francisco (66 years old)
coverageCoverage
State Minimum
locationBelen, NM
carVolkswagen NEW GTI
$87
per month
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Winifred (67 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
locationSanta Teresa, NM
carJeep Grand Cherokee Laredo
$137
per month
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Willie (76 years old)
coverageCoverage
State Minimum
locationRio Rancho, NM
carKIA Forte FE
$231
per month
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Miguel (65 years old)
coverageCoverage
100,000 per person
300,000 per accident bodily injury
Comp / Collision
carNissan Titan S
$173
per month
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Gainsco
Kenneth (73 years old)
coverageCoverage
State Minimum
locationDexter, NM
carChevrolet Cruze Limited LT
$67
per month

Over 3,500,000 customers and counting

We love saving our customers money. Turns out, they love it too! Here's what they have to say about their switch with Jerry:
Progressive
Good so far
David-2
Progressive
Its a great company with professional experience
Zakria-1
Progressive
Good prices
Savannah-1
Allstate
They've been great! Quick and easy and saved me lots of money!
Cameron

New Mexico cheapest car insurance by location

When calculating your annual car insurance premium, insurance providers consider various factors, including the location where your vehicle is stored. Insurance costs can vary based on factors such as population density, accident rates, crime statistics, and weather conditions.
Additionally, insurance premiums can vary even within the same city, with different zip codes having different rates. (That means that exactly where you live in
Albuquerque
absolutely matters!)
Learn how Jerry Insurance Agency has assisted drivers in different cities throughout New Mexico in meeting their insurance requirements.
CityCustomerInsurance CompanyPremium (monthly)CarInsurance coverage
Albuquerque, NM
Andrew, 22
Progressive
$188
Jeep Grand Cherokee Lared
• State Minimum Liability
• Comp / Collision
Albuquerque, NM
Bernice, 61
Travelers
$83
Lexus CT 200
• 100,000/300,000 Liability
• Comp / Collision
Albuquerque, NM
Ethan, 42
Nationwide
$170
Ford F350 SRW Super Duty
• 50,000/100,000 Liability
• Comp / Collision
Albuquerque, NM
Louis, 29
Allstate
$166
Dodge Challenger SXT
• 50,000/100,000 Liability
• Comp / Collision
Albuquerque, NM
Christopher, 36
Bristol West
$64
Toyota Scion TC
• State Minimum Liability
Roswell, NM
Etta, 29
Infinity
$96
Ford Fiesta SE
• State Minimum Liability
Farmington, NM
Nettie, 27
Clearcover
$162
Ford Fiesta SE
• 30,000/60,000 Liability
• Comp / Collision
Albuquerque, NM
John, 39
State Auto
$146
Honda Civic SE
• State Minimum Liability
• Comp / Collision
Alamogordo, NM
Hulda, 27
Mercury
$125
Dodge Challenger SE
• 30,000/60,000 Liability
Farmington, NM
Mason, 36
Gainsco
$190
Dodge Dart SXT
• State Minimum Liability
• Comp / Collision
Portales, NM
Mary, 34
National General
$163
Toyota Corolla LE
• No Coverage Liability
Espanola, NM
Earl, 30
Kemper
$274
Dodge Challenger SXT
• State Minimum Liability
• Comp / Collision
Santa Fe, NM
Mable, 56
Assurance America
$109
KIA RIO LX
• State Minimum Liability
• Comp / Collision
Albuquerque, NM
Gussie, 42
Electric
$111
Toyota Scion IA
• 30,000/60,000 Liability
coverageLast Updated Oct 9, 2024

How to lower car insurance costs in New Mexico

Now that we’ve examined why your insurance premiums are high, it’s time to explore what you can do about it. To cut your bills month after month, Jerry’s insurance agents recommend:
  • Shop around and compare quotes: Obtain quotes from multiple insurance providers to ensure you're getting the best possible rate. Each company may have different pricing and car insurance discounts available.
  • Increase your deductible: By opting for a higher deductible, you can lower your premium. However, make sure you can afford the deductible amount in case of a claim.
  • Maintain a good driving record: Avoid accidents and traffic violations to maintain a clean driving record. Insurance companies often offer good driver discounts to drivers with a history of safe driving.
  • Take advantage of discounts: Inquire about discounts for which you may be eligible, such as safe driver discounts, multi-policy discounts (if you
    bundle your car insurance with other policies
    ), and discounts for safety features installed in your vehicle.
  • Consider your coverage needs: Review your coverage limits and consider adjusting them based on your individual circumstances. However, ensure you have adequate coverage to protect yourself in case of an accident.
  • Drive a less expensive car: Insuring a newer or high-value vehicle can be more expensive. Choosing a vehicle with lower repair and replacement costs may result in lower insurance premiums.
  • Maintain a good credit score: Insurance companies often consider credit scores when determining rates. Maintaining a good credit score can help lower your premiums
  • Drive fewer miles: Some insurance companies offer discounts for low-mileage drivers. If possible, reduce your annual mileage to qualify for these discounts.
Remember to consult with insurance professionals or agents who can recommend the best car insurance based on your specific situation.

Why car insurance is so expensive in New Mexico

Geographic location absolutely affects your car insurance rates, but New Mexicans actually enjoy premiums at or below the national average. That said, here’s what uniquely affects drivers in the Land of Enchantment:
  • High rate of uninsured drivers: New Mexico has one of the highest rates of uninsured drivers in the United States. This means that insured drivers have to bear the financial burden of accidents involving uninsured motorists, which can drive up insurance costs for everyone.
  • Frequency of accidents: New Mexico has seen a high frequency of accidents and claims. This could be due to various factors, such as road conditions, weather conditions, and driver behavior. Insurance companies factor in the risk of accidents when determining premiums, so higher accident rates can lead to higher insurance costs.
  • Cost of medical care: Medical costs associated with injuries sustained in car accidents can be significant. New Mexico has higher medical costs compared to some other states, and these costs are factored into insurance premiums.
  • Auto theft rates: Certain areas of New Mexico have higher rates of auto theft. Insurance companies take into account the risk of theft when calculating premiums, so areas with higher theft rates may have higher insurance costs.
  • Laws and regulations: Each state has its own set of laws and regulations governing car insurance. These laws can impact insurance rates and coverage requirements. In New Mexico, specific insurance requirements and regulations may contribute to higher insurance costs.

FAQs

The cost of car insurance in New Mexico can vary depending on various factors, including your age, driving record, the type of vehicle you drive, your location, and the coverage options you choose. Therefore, it's challenging to provide an exact figure without specific information. Using a car insurance comparison shopping tool is the fastest and easiest way to get customized quotes.
Here’s what uniquely affects drivers in the Land of Enchantment:
  • High rate of uninsured drivers
  • Frequency of accidents
  • Cost of medical care
  • Auto theft rates
  • Laws and regulations
Yes. New Mexico drivers are required to purchase minimum liability coverage to drive legally.
In New Mexico,
car insurance generally follows the car
rather than the driver. This means that the insurance coverage you have for a specific vehicle will apply when that vehicle is driven by anyone with your permission.
In New Mexico,
car insurance generally follows the car
rather than the driver. This means that the insurance coverage you have for a specific vehicle will apply when that vehicle is driven by anyone with your permission.
In addition to meeting the minimum amounts of liability insurance required by law in New Mexico, as well as the required uninsured/underinsured motorist coverage, full coverage car insurance includes both collision insurance and comprehensive coverage to protect damage that occurs to you and your vehicle.
The minimum required amounts for auto liability insurance in New Mexico are as follows: $25,000 for bodily injury to or death of one person, $50,000 for bodily injury to or death of two or more persons, and $10,000 for property damage in any single accident.
The lowest form of car insurance is a comprehensive-only plan. Often referred to as “parked car” or “
car storage
” insurance, this is a low cost plan that protects your vehicle from damage or theft while it’s not being driven.
If you will be driving your vehicle, the lowest coverage you can legally get by with in New Mexico is liability coverage in a 25/50/10 configuration.
Yes, in order to register a car in New Mexico, you are required to provide proof of insurance coverage. The insurance policy must meet the state's minimum liability coverage requirements. Without proof of insurance, you may not be able to register your car or obtain license plates.
New Mexico drivers pay an average of ${dynamic} for minimum coverage and ${dynamic} for full coverage car insurance per year. That translates to just under ${dynamic} a month for a liability only policy, and about ${dynamic} a month for full coverage.
Car insurance super app Jerry conducted the largest insurance shopping study in the nation, which surveyed 15,000+ auto insurance policy holders and concluded that no single car insurance company always offers the cheapest rates for every driver.
You’ll have to shop around, which may seem daunting, but we promise that Jerry makes the process fast and easy!
Yes, in New Mexico, if you are caught driving without insurance, your car can be impounded or towed. It is illegal to operate a motor vehicle without the required minimum insurance coverage in the state.
Yes—as long as you’re just passing through. Your standard United States car insurance policy Yes, you can have out-of-state car insurance in New Mexico, but there are some important considerations.
If you have recently moved to New Mexico and brought your car with you, your out-of-state insurance policy may provide coverage for a certain period of time, usually around 30 days. However, it's generally required that you update your insurance policy to comply with New Mexico's minimum coverage requirements within a certain timeframe after establishing residency in the state.
No, Personal Injury Protection (PIP) is not required in New Mexico. PIP is a type of auto insurance coverage that provides medical expenses and other benefits to the policyholder and passengers regardless of who is at fault in an accident, but New Mexico’s traditional fault-based insurance system eliminates the need for this type of coverage.
Yes, it is possible to have both Personal Injury Protection (PIP) and Medical Payments (MedPay) coverage in New Mexico. PIP and MedPay are two types of optional insurance coverages that provide additional medical expense coverage for injuries sustained in a car accident.

Methodology

The Insurance Research Team analyzes insurance products and services to drive insights and help consumers make informed purchase decisions. 
Insurance research: We analyzed over 25 million car insurance quotes; conducted the largest insurance shopping survey (over 15,000 customers surveyed and 85 carriers reviewed in the past 18 months). 
We surveyed insurance policyholders for their experience with their insurers in the following areas: (1) insurance cost (2) customer service (3) insurance buying experience (4) insurance renewal experience (5) claim experience. In addition, we asked people what they like about their insurers and what areas in which their insurers could improve. The driver characteristics used in calculating average rates for auto insurance include: single driver, single car, currently insured, clean driving record.  
For the quotes and sold policies included in this article, please note that personal information has been hidden. Not all customers find savings. 
Team: The team consists of licensed insurance agents, insurance industry veterans, and data scientists.

Meet our Experts

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R.E. Fulton
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Licensed Insurance Agent —Senior Content Writer
R.E. Fulton is an expert insurance writer specializing in car ownership topics from car shopping and loan advice to insurance and repair guides. R.E.’s mission is to create unique and accessible content that helps readers to become more successful and independent car owners. R.E. has written and edited over 900 high-performing articles for Jerry, with an average of 1 million+ views.
As a senior writer on Jerry’s editorial team, R.E. draws on over 10 years of experience as a professional writer and digital publishing specialist. Prior to joining Jerry’s editorial team in 2021, R.E. worked as a writing coach at Columbia University, the Rochester Institute of Technology (RIT), and the University of Rochester. They serve as a managing editor for peer-reviewed history publication Nursing Clio, where their work has appeared regularly since 2015.
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Lina Zhang
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Licensed Insurance Agent
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Licensed in 50 states and Washington DC
Lina Zhang is Vice President of Operations at Jerry. She helped to found Jerry in order to take the confusion and mystery expenses out of car ownership and help drivers achieve financial success. Leading a global team responsible for operations, talent acquisition, legal, and content, Lina has been a key contributor to the AllCar™ app’s 10x growth in its first year of operation. Prior to Jerry, Lina and her Jerry co-founders, Art Agrawal and Musawir Shah, created YourMechanic, the largest on-demand car repair services provider. In one year, Lina built and scaled YourMechanic operations from just five markets to more than 50. The trio left YourMechanic to incubate Jerry at Y Combinator in 2017. Lina’s previous roles include intellectual property attorney at Morrison & Foerster LLP and a biomedical researcher at Stanford University.
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Josh Damico
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Head Of Insurance Operations
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18+ Years Experience in Insurance
Josh Damico is Jerry’s vice president of insurance operations and a licensed insurance professional with nearly two decades of experience in the industry. Previously, Josh held executive roles at Geico, where he had vast regional oversight and leadership opportunities.  He holds a bachelor’s degree in business administration and management from Medaille College, and has appeared on news channels including FOX and CBS to offer insurance expertise and tips to drivers across the country. His work has appeared in Business Insider, Kelley Blue Book, and Digital Insurance and been quoted in The Balance, GOBankingRates, and Inspiring Workplaces.
*Illustration only. For all the pricing information presented in this article (including various tables), please note that not all customers find savings and the information is for illustrative purposes only. Savings depend on type of car, location, policy features, driving history and other factors. Drivers who switch through Jerry save over $70/month on average.