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 $1215 for a six-month policy, which is $219 higher than the higher than the state average. Root Insurance Company offers the lowest rates in the city at $863, 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

$1215

Avg. Car Insurance in New Mexico

$996

National Average

$1140

Cheapest Car Insurance Companies in Albuquerque

1st place: USAA

At $863 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: State Farm

State Farm offers auto insurance rates at $935 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 $863 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	$863	$145
Encompass	$935	$156
State Farm	$935	$157
Nationwide	$1043	$176
Progressive	$1102	$185
Central Mutual	$1174	$195
Farmers	$1355	$228
Central Insurance	$1464	$244
Farm Bureau	$1471	$250
Allstate	$1710	$288
Kemper	$1326	$221

Key Takeaways

Way's key takeaways about car insurance in Albuquerque

The auto insurance costs in Albuquerque fall around $863 for six months.
The cheapest auto insurance company in Albuquerque is Central Mutual.
Teen drivers pay the highest rate in Albuquerque at $866 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 $645 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
Farm Bureau	$290	$49
Encompass	$298	$50
Progressive	$298	$50
State Farm	$318	$54
Kemper	$427	$73
Farmers	$464	$78
Nationwide	$478	$82
Allstate	$645	$109

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 $145 per month and $863 for six months.

Cheapest Full Coverage Car Insurance Quotes in Albuquerque, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
USAA	$863	$145
Encompass	$935	$156
State Farm	$935	$157
Nationwide	$1043	$176
Progressive	$1102	$185
Central Mutual	$1174	$195
Farmers	$1355	$228
Central Insurance	$1464	$244
Farm Bureau	$1471	$250
Allstate	$1710	$288
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 $5145 for a six-month premium, Allstate 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	$1203	$203
State Farm	$1935	$326
Farm Bureau	$2356	$400
Progressive	$3007	$506
Nationwide	$4261	$725
Farmers	$4993	$841
Allstate	$5145	$866

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 $3414 for six months.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Kemper	$399	$68
USAA	$1008	$168
Progressive	$1028	$173
Farmers	$1760	$296
Farm Bureau	$2145	$365
Allstate	$2233	$372
State Farm	$3414	$581

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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. Allstate is an expensive provider with an average six-month premium of $2573.

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	$631	$106
State Farm	$841	$142
Progressive	$920	$155
Farm Bureau	$2007	$334
Farmers	$2356	$397
Nationwide	$2391	$399
Allstate	$2573	$433

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 $2608 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
Progressive	$855	$144
State Farm	$885	$149
USAA	$993	$167
Farmers	$1449	$244
Nationwide	$1565	$261
Allstate	$2095	$353
Farm Bureau	$2608	$434

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 $3921 with companies like Allstate 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
USAA	$587	$98
State Farm	$681	$115
Progressive	$754	$127
Farm Bureau	$1543	$262
Farmers	$3167	$528
Allstate	$3921	$666

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 $235 in December compared to $231 of November. In other words, there has been an increase by $4 when you compare December and November.

The average cost of liability insurance in the Albuquerque rose to $56 in December, compared to $52 in November. This represents an increase of $4 when comparing December and November.

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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 $1275 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	$1275	$213
87109	$1275	$213
87106	$1251	$209
87107	$1263	$211
87104	$1239	$207
87116	$1215	$203
87105	$1312	$220
87113	$1239	$207
87102	$1239	$207
87114	$1336	$224
87111	$1312	$220
87122	$1239	$207
87112	$1288	$215
87123	$1288	$215
87120	$1324	$222
87110	$1275	$213
87121	$1348	$226

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 $145 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 $996 for a six-month policy. It will cost around $204 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 $863 for a six-month policy.