Car Insurance Quotes in New Mexico

  • Shopping for car insurance quotes in New Mexico can feel like a maze. From figuring out state minimums to comparing deductibles and looking for discounts, it's easy to get lost.
  • That's where we come in. We make it simple. In about two minutes, you can compare personalized quotes from over 150 top-rated insurance companies, all in one place. Our goal is to give you the confidence to pick the perfect coverage at a price you'll love
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Central Insurance

$20/mo

Central Mutual

$21/mo

USAA

$24/mo

Sara Sam
Written by Sara Sam
Edited by Renee Martin

Why Thousands of New Mexico Drivers Trust Way.com

The car insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com.

Table of Contents

How Much Does Car Insurance Cost in New Mexico

The car owners in New Mexico pays on an average of $962 for six months for car insurance, which is the national average. Central Insurance offers cheap and the best rates in New Mexico.

Cheapest Liability Car Insurance in New Mexico ()

For drivers looking to meet New Mexico minimum car insurance requirements, liability-only insurance is the most budget-friendly choice. Cheap liability car insurance in New Mexico is widely available from providers like Central Insurance at $20/month. If you opt for you will have to pay at least $/month for your car insurance premium, which is the highest in New Mexico.

Cheapest Liability Coverage in NM

Are minimum liability insurance limits enough for New Mexico?

Minimum liability insurance provides basic coverage but often falls short in covering major accidents, leaving drivers vulnerable. Upgrading to full coverage car insurance in New Mexico or increasing coverage limits can offer better financial protection. Compare car insurance quotes in New Mexico to find affordable options that suit your needs.

Sarah Sam
Insurance writer and senior content specialist

Cheap Full Coverage Car Insurance in New Mexico

Full coverage combines liability, comprehensive, and collision insurance, offering broader protection than liability coverage, which only covers damages or injuries you cause to others. As per our analysis USAA offers the cheapest car insurance for full coverage in New Mexico at $103 per month. On the other hand offers the most expensive rate at $ per month.

Full coverage quotes in NM

Way Tip

How to get your cheap full coverage insurance?

  • Combine your car insurance with home or renters insurance for exclusive savings.
  • Low-mileage drivers can score better rates by opting for pay-per-mile plans.
  • Stick with one car insurance company for annual renewal discounts and exclusive member perks.

Avoid Hidden Costs on Your New Mexico Car Insurance Bill

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Best Car Insurance Companies in New Mexico: Compared & Ranked

Progressive stands out as the best car insurance provider in New Mexico, thanks to its affordable premiums, extensive discounts, and strong customer satisfaction ratings from sources like J.D. Power and AM Best. With a robust range of coverage options, State Farm is a top pick for drivers seeking value and reliability.

Progressive

Progressive offers a six-month premium of $303, which amounts to approximately $50 per month. This provides a competitive and affordable option for those looking for budget-friendly car insurance. 

State Farm

The average premium of State Farm is $356, which is higher than Progressive's by $. Their higher monthly premium is, due to their strict policies on traffic violations.

Farmers

Farmers's premium is $380, which is significantly more expensive than State Farm's by $. Their monthly premium is higher due to their strict policies on DUI infractions.

Best Car Insurance Companies in NM

Our Review Process

How Way Uncovers the Best Car Insurance Deals?

  • The car insurance rates in this guide are based on extensive research by Way’s data team.
  • The average car insurance costs of each company in New Mexico.
  • A mix of public and internal data was used to analyze millions of rate averages across U.S. ZIP codes.
  • Quotes in this guide are typically based on a full coverage policy unless noted otherwise.
  • The author has expertise from 5+ years in the insurance industry

Cheap Car Insurance for Teen & Young Drivers in NM

Teens and young drivers in New Mexico often face high car insurance rates, especially those aged 16 to 19. This is because inexperienced drivers pose a higher risk. The average cost for teens in New Mexico is $1990 for 6 months, which is the national average.

Central Insurance is the best options for cheap car insurance for young drivers in New Mexico.

Best Car Insurance Discounts for Young Drivers in New Mexico

Teen Car Insurance Rates in NM by Age
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Top companies in NM for Teens

Company Name Avg. 6 Mo. Premium Avg. Monthly Premium
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Way Tip

What Teen Drivers can do to Drive Smarter

  • Install company-approved safety devices and enjoy lower premiums.
  • Monitor your driving habits with trackers for potential discounts.
  • Opt for temporary coverage adjustments during school breaks.

Smart drivers in New Mexico save big on car insurance!

New Mexico Car Insurance Price Trends & Rate Forecasts

Car insurance rates in New Mexico have fluctuated due to factors such as state regulations, inflation, and changing driving habits.

The average cost of full coverage in the New Mexico by $ in compared to $ of . In other words, there has been an by $ when you compare and .

The average full coverage insurance cost in the New Mexico remained steady at $ in both and , indicating no change over the two-month period.

The average cost of liability insurance in the New Mexico to $ in , compared to $ in . This represents an of $ when comparing and .

The average liability insurance cost in the New Mexico remained steady at $ in both and , indicating no change over the two-month period.


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Wilson Mathew Nechikat
Principal
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Senior Director of Insurance Operations
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Car Insurance Quotes in New Mexico After an At-Fault Accident

Your driving history significantly impacts your car insurance premiums. Insurance companies assess past at-fault accidents to gauge risk and adjust rates accordingly. Through our research we found that Central Mutual gives you the cheapest car insurance rate after an at-fault accident in New Mexico at $21/month. On the other hand is the most expensive option at $/month for an at-fault accident.

Best insurance companies in NM after an accident

Why Way.com Recommends USAA Insurance in New Mexico?

If you are living in New Mexico you should opt for USAA. USAA ranks as number 1 across various factors like customer satisfaction, claims and rates.

How Traffic Violations Affect Car Insurance Rates in New Mexico

In New Mexico, your car insurance premiums can rise significantly due to traffic violations. The extent of the increase depends on factors such as the violation type, local regulations, and the insurer's policies. Minor offenses like speeding might cause a small increase, while more serious violations, such as DUIs, can lead to much higher rates. Additionally, the effect on premiums in New Mexico may differ from the national average due to regional risks and rules.

Here’s a breakdown of average car insurance rates in New Mexico after common driving violations.

How Driving Violations Affect Car Insurance Quotes in New Mexico

Way Tip

How to Reset Rates after a Driving Violation

  • Switch to pay-per-mile or telematics-based policies to reduce premiums while demonstrating safer driving habits.
  • Find insurers that lower rates for completing state-approved driving courses.
  • Find providers that offer accident forgiveness, sparing your wallet after one-off violations.

Affordable Car Insurance in New Mexico After a DUI or SR-22

Driving under the influence is a serious offense. A DUI history classifies you as a high-risk driver, increasing your annual insurance premium. Premiums after a DUI can vary significantly between insurance providers. According to our findings, one of the cheapest car insurances in New Mexico is Central Insurance at $52 per month. at $ per month is the most expensive provider.

DUI Car Insurance Quotes in New Mexico: What to Expect

SR-22 Car Insurance in New Mexico: How to File & Save

An SR-22 is a certificate of financial responsibility required by the state for high-risk drivers. It verifies that the driver carries the minimum liability insurance coverage mandated by law. The SR-22 is typically needed after violations like DUI or a serious traffic offense.

Steps to Get an SR-22 in New Mexico?

If You're Insured:

Contact your current insurance provider and ask them to file an SR-22. Not all companies offer this service, so you might need to switch providers.

If You're Uninsured:

You'll need to purchase a new insurance policy. Some insurers specialize in helping high-risk drivers and can file the SR-22 for you.

If You Don't Own a Car:

A non-owner car insurance policy is your best option. It covers liability and fulfills the SR-22 requirement at a lower cost since it doesn't insure a specific vehicle.

Stop overpaying for Car Insurance. Saving $971 isn’t pocket change

Car Insurance Rates by City in New Mexico ( Update)

Your location impacts your car insurance rate. Busy cities mean higher costs due to traffic, while quieter towns often have lower premiums.

Car insurance quotes in New Mexico's biggest cities

Frequently Asked Questions

Who has the cheapest car insurance in New Mexico? Down icon
Getting the cheapest car insurance in New Mexico depends on several factors and can vary based on each applicant’s profile. For instance, USAA offers the cheapest car insurance rates in New Mexico at $612 for six months. Car insurance rates varies based on various factors like age, driving history, credit score, and age.
How much is car insurance in New Mexico? Down icon
In New Mexico, the average cost of car insurance is $253 for liability coverage and $962 for full coverage. These rates are than the national average of $312 for liability coverage and the national average of $1128 for full coverage.
How much does car insurance cost per month in New Mexico? Down icon
The cheapest monthly car insurance rate in New Mexico is $103 for full coverage and $135 for liability coverage. However, younger drivers will have to pay higher rates than older drivers. The cheapest rate for teens in New Mexico is $29 for a month. The state and the respective zip codes play a key role in the car insurance rates.
Why is car insurance so expensive in New Mexico? Down icon
Car insurance in New Mexico is expensive due to factors like high traffic congestion, expensive repair costs, and frequent weather-related accidents like floods and hailstorms.
What is the minimum insurance you need to drive a car in New Mexico? Down icon
In New Mexico, the minimum required car insurance includes $25,000 for injury or death of one person, $50,000 for multiple people, and $10,000 for property damage.

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Major Cities in New Mexico

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