Cheapest Car Insurance Quotes in Albuquerque

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Albuquerque Car Insurance

^$ 26

/mo

Written by Sara Sam

Edited by Renee Martin

Why you can trust Way?

The auto insurance rates published in this guide are based on the results of research completed by Way’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.

Table of Contents

How Much Is Car Insurance in Albuquerque

The car insurance rate in Albuquerque is $1292 for a six-month policy, which is $233 higher than the higher than the state average. Root Insurance Company offers the lowest rates in the city at $877, making it a popular choice for budget-conscious drivers. Rates in Albuquerque can vary depending on your age, driving record, and coverage level, so not every driver will pay the same amount. Choosing a higher deductible, maintaining a clean driving history, and comparing quotes from multiple insurers can help you find better deals and save money over time.

Avg. Car Insurance in Albuquerque

$1292

Avg. Car Insurance in New Mexico

$1059

National Average

$1278

Cheapest Car Insurance Companies in Albuquerque

1st place: USAA

At $877 for a six month policy, USAA offers the cheapest auto insurance rates in the city.

2nd place: Encompass

Encompass offers auto insurance rates at $935 for a six-month policy, making it one of the cheapest to insure with.

3rd place: Nationwide

Nationwide offers auto insurance rates at $1043 for six months, making it the third cheapest auto insurance company in Albuquerque.

Albuquerque Car Insurance Rates by Company

Based on our research, the cheapest car insurance company in Albuquerque, NM is USAA, offering policies at just $877 for a six-month term. This is followed by Encompass, which has an average six-month premium of $935.

At the higher end of the spectrum, Kemper is the most expensive, with rates reaching $1326 for a six-month policy. Rates can vary widely by driver, but comparing quotes from multiple companies can help Albuquerque drivers find the best deals.

Cheap Car Insurance Companies in Albuquerque, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
USAA	$877	$148
Encompass	$935	$156
Nationwide	$1043	$176
State Farm	$1065	$179
Central Mutual	$1174	$200
Progressive	$1254	$211
Central Insurance	$1464	$249
Farmers	$1493	$251
Allstate	$1710	$288
Farm Bureau	$1870	$311
Kemper	$1326	$221

Key Takeaways

Way's key takeaways about car insurance in Albuquerque

The auto insurance costs in Albuquerque fall around $877 for six months.
The cheapest auto insurance company in Albuquerque is Central Mutual.
Teen drivers pay the highest rate in Albuquerque at $930 per month.

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Cheapest Minimum Liability Car Insurance in Albuquerque

Since car insurance is a critical requirement for owning a car, you must have minimum liability car insurance. The cheapest car insurance companies for minimum coverage in Albuquerque are given below.

Central Mutual provides the cheapest minimum car insurance coverage in Albuquerque. Their Average 6 Month Premium is $153. Allstate is the most expensive at $623 for the same period.

Cheapest Liability Coverage in Albuquerque, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Mutual	$153	$26
USAA	$195	$33
Central Insurance	$239	$40
Iowa Farm Bureau	$246	$41
Encompass	$298	$50
State Farm	$340	$57
Farm Bureau	$377	$65
Progressive	$421	$71
Kemper	$427	$73
Nationwide	$478	$79
Farmers	$486	$82
Allstate	$623	$105

Cheapest Full Coverage Car Insurance in Albuquerque

One might think that minimum coverage is only required when insuring your car insurance. However, having full coverage car insurance in any city is certainly a wise choice as it offers better coverage and protection. Our best pick for the cheapest auto insurance quotes in Albuquerque is USAA at $148 per month and $877 for six months.

Cheapest Full Coverage Car Insurance Quotes in Albuquerque, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
USAA	$877	$148
Encompass	$935	$156
Nationwide	$1043	$176
State Farm	$1065	$179
Central Mutual	$1174	$200
Progressive	$1254	$211
Central Insurance	$1464	$249
Farmers	$1493	$251
Allstate	$1710	$288
Farm Bureau	$1870	$311
Kemper	$1326	$221

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Average Car Insurance in Albuquerque by Rating Factor

The car insurance rates for two people under the same ZIP code will mostly be different. This is mostly because insurance rates are calculated based on several rating factors. These rating factors include the driver's age, gender, marital status, driving and claims history, credit score, location, type of vehicle, and coverage levels.

I have a clean driving record. Why is my car insurance rate here in Albuquerque, NM increasing?

Despite maintaining a clean driving record, your car insurance rates in Albuquerque, New Mexico, may be increasing due to several external factors. New Mexico has experienced significant rate hikes recently, with average premiums rising by 25.5% in 2023, largely attributed to higher claims volumes and inflation.

Additionally, Albuquerque's high urban population density, raised auto theft rates, and frequent natural disasters contribute to increased insurance costs.

Car Insurance Premiums by Age in Albuquerque

It is quite evident why teen drivers pay the highest car insurance rates in any city. Their lack of experience and increased accident rates make them a highly risky category. However, as you grow older, your car insurance rates will decrease. So, it is better to not have separate policies for teens; instead, add them to their parents' policies.

Cheapest Car Insurance Companies Based on Age Group

Age Group	Cheapest Companies	Avg. 6 Mo. Premium
30s	MetLife	$714
40s	MetLife	$666
50s	MetLife	$612
60s	MetLife	$582
70s	MetLife	$756

Cheapest Car Insurance Rates for Teen Drivers in Albuquerque,NM

If you are planning to get a car insurance policy for your teenage dependent, Central Insurance provides the cheapest car insurance in the Albuquerque at $38 per month. At $5522 for a six-month premium, Farmers offers the most expensive rate for teen drivers.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Insurance	$224	$38
Iowa Farm Bureau	$326	$55
Kemper	$333	$56
USAA	$1254	$211
State Farm	$2239	$377
Farm Bureau	$3094	$526
Progressive	$3884	$654
Nationwide	$4261	$725
Allstate	$5145	$866
Farmers	$5522	$930

Teen Car Insurance Rates in NM by Age

Way Tip

If you are in your twenties MetLife is the best choice for car insurance in Albuquerque.

As young drivers face the highest rates in Albuquerque, MetLife offers the cheapest auto insurance rates at $714 for six months.

Car Insurance Rates by Credit Score & Driving History

Similar to your driving history, your financial history also plays a key role in determining your auto insurance rates. A low credit score would mean a lapse in payment and increased chances of filing claims, which results in higher auto insurance rates. Therefore, the higher the credit score, the lower the car insurance rates will be.

Cheapest Car Insurance Companies for Bad Credit

For those with poor credit scores in Albuquerque, Kemper is the cheapest car insurance provider. At $399 for a six-month premium, they offer the best rates in the city. The most expensive auto insurance rate for drivers with bad credit in Albuquerque is State Farm, offering rates of around $5014 for six months.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Kemper	$399	$68
USAA	$1116	$185
Progressive	$1631	$275
Farmers	$2095	$353
Allstate	$2233	$379
Farm Bureau	$2797	$466
State Farm	$5014	$853

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Car Insurance Rates with An Accident in Albuquerque

Both accidents and the resulting increase in insurance rates are often beyond our control. When you’re involved in an accident, you become riskier to insure, consequently increasing the rates. In Albuquerque, NM, accidents can lead to significant hikes in your premiums.

Cheapest Car Insurance Companies after an At-Fault Accident in Albuquerque

The cheapest car insurance companies after an at-fault accident in Albuquerque include Central Mutual and Central Insurance, offering $153 and $326, respectively. Farmers is an expensive provider with an average six-month premium of $2645.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Mutual	$153	$26
Central Insurance	$326	$55
Encompass	$362	$61
Kemper	$392	$67
Iowa Farm Bureau	$399	$66
USAA	$653	$110
State Farm	$913	$154
Progressive	$1159	$195
Nationwide	$2391	$399
Allstate	$2573	$433
Farm Bureau	$2601	$433
Farmers	$2645	$445

Albuquerque Car Insurance Rates by Violation

Here is a list of driving violations that can increase your car insurance rates in Albuquerque NM. For example, the car insurance in Albuquerque after a DUI increases to $1144 for a six month policy. While the rate increases by $254 for a six-month policy in the case of a speeding ticket.

Albuquerque auto insurance quotes by violations

Accident/Violation	Avg. 6 Mo Premium	Avg. Monthly Premium
None	$1225	$204
One Med/PIP claim	$1240	$211
Not-at-fault accident	$1275	$212
One comp claim	$1282	$218
Two Med/PIP claims	$1297	$216
Two comp claims	$1333	$227
Failure to show documents	$1348	$224
Failure to wear a seat belt	$1355	$231
Child safety restraint	$1405	$234
Driving without lights	$1405	$239
In 65 MPH zone	$1449	$242
Cell phone violation	$1457	$248
Texting while driving	$1457	$243
At-fault accident - less than $1000	$1464	$249
Driving with expired registration	$1464	$244
Speeding 11 - 15 MPH over limit	$1479	$251
Speeding 16 - 20 MPH over limit	$1479	$246
Speeding 6 - 10 MPH over limit	$1479	$251
Driving too slowly	$1486	$248
Failure to stop at a red light	$1486	$253
Failure to yield	$1486	$248
Following too closely	$1486	$253
Illegal turn	$1486	$248
Improper passing	$1486	$253
Speeding in school zone	$1486	$248
Wrong way/wrong lane	$1486	$253
Passing school bus	$1508	$251
Operating a vehicle without permission	$1529	$260
Speeding 21 - 25 MPH over limit	$1529	$255
Open container	$1703	$289
At-fault accident - $1000-$2000	$1732	$289
At-fault accident - greater than $2000	$1747	$296
Reckless driving	$2268	$378
Driving with a suspended license	$2275	$387
Refusal to submit to a chemical test	$2305	$384
DUI	$2369	$403
Racing	$2420	$404
Leaving scene of an accident/hit and run	$2435	$414

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Way Tip

Avoid Having A DUI On Your Driving Record.

A DUI can increase your car insurance rates—by $5,000 to $10,000 over five years. Speeding, reckless driving, and at-fault accidents also raise rates, staying on your record for 3–5 years, while DUIs/DWIs can impact you longer.

Car Insurance Rates in Albuquerque after a DUI

There may have been times when you drank but chose not to drive—a smart and responsible decision, as most states treat DUIs as a serious offense. Your car insurance rates can double after a DUI charge, making it harder to find affordable coverage in Albuquerque.

The cheapest car insurance premiums in Albuquerque are offered by Kemper at $392 for a six-month policy. However, it can be as expensive as $3436 with companies like Farm Bureau.

Albuquerque car insurance quotes with a DUI

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Kemper	$392	$66
Central Insurance	$478	$82
USAA	$1036	$174
State Farm	$1109	$187
Progressive	$1124	$189
Nationwide	$1565	$266
Farmers	$1631	$275
Allstate	$2095	$353
Farm Bureau	$3436	$572

Cheapest car insurance after a speeding ticket

One of the easiest ways to save money on car insurance is to stay within the speed limit. After a speeding violation, the cheapest car insurance premiums in Albuquerque are offered by Iowa Farm Bureau at $298. However, it can be as expensive as $3579 with companies like Farmers for a similar six-month premium.

Cheapest Car Insurance in Albuquerque after Speeding ticket

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Iowa Farm Bureau	$298	$50
State Farm	$754	$127
USAA	$754	$128
Progressive	$1427	$240
Farm Bureau	$2014	$343
Allstate	$3579	$597
Farmers	$3579	$609

Car Insurance Price Trends in Albuquerque, New Mexico

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

The average cost of full coverage in the Albuquerque rose by $270 in January compared to $235 of December. In other words, there has been an increase by $35 when you compare January and December.

The average cost of liability insurance in the Albuquerque rose to $61 in January, compared to $56 in December. This represents an increase of $5 when comparing January and December.

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Average Car Insurance Cost in Albuquerque by ZIP Code

The crime rate, the number of accidents, and the probability of natural calamities all determine the car insurance rates in different neighborhoods in the Albuquerque. At $1356 for a six-month policy, insuring your car at 87108 is the cheapest in the city.

Zip Code	Average 6 Mo. Premium	Avg. Monthly Premium
87108	$1356	$228
87109	$1356	$228
87106	$1330	$223
87107	$1343	$225
87104	$1317	$221
87116	$1291	$217
87105	$1395	$234
87113	$1317	$221
87102	$1317	$221
87114	$1421	$238
87111	$1395	$234
87122	$1317	$221
87112	$1369	$230
87123	$1369	$230
87120	$1408	$236
87110	$1356	$228
87121	$1434	$241

Frequently Asked Questions

How much is car insurance in Albuquerque?

The car insurance in Albuquerque is $26 per month, which is lower than the national average.

What is the cheapest car insurance in Albuquerque?

The cheapest car insurance in Albuquerque is $148 per month for full coverage.

How much is car insurance in Albuquerque for teenagers?

Car insurance for teenagers costs $224 per 6 months. The rates for teen drivers are higher due to their lack of experience as drivers.

What's the average cost of car insurance in Albuquerque?

The average cost of car insurance is $1059 for a six-month policy. It will cost around $217 per month to insure your car in Albuquerque.

Is car insurance expensive in Albuquerque?

Car insurance can be expensive in Albuquerque if your rating factors are not favorable. However, with a clean driving record and good credit score, car insurance rates in Albuquerque can be affordable.

What is the best car insurance in Albuquerque, NM?

The best car insurance company in Albuquerque NM is USAA, offering $877 for a six-month policy.