Cheapest Car Insurance Quotes in Caballo

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Caballo Car Insurance

^$ 18

/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 Caballo

The car insurance rate in Caballo is $876 for a six-month policy, which is $120 lower than the higher than the state average. Root Insurance Company offers the lowest rates in the city at $622, making it a popular choice for budget-conscious drivers. Rates in Caballo 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 Caballo

$876

Avg. Car Insurance in New Mexico

$996

National Average

$1140

Cheapest Car Insurance Companies in Caballo

1st place: USAA

At $622 for a six month policy, USAA offers the cheapest auto insurance rates in the city.

2nd place: Encompass

Encompass offers auto insurance rates at $674 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 $674 for six months, making it the third cheapest auto insurance company in Caballo.

Caballo Car Insurance Rates by Company

Based on our research, the cheapest car insurance company in Caballo, NM is USAA, offering policies at just $622 for a six-month term. This is followed by Encompass, which has an average six-month premium of $674.

At the higher end of the spectrum, Kemper is the most expensive, with rates reaching $957 for a six-month policy. Rates can vary widely by driver, but comparing quotes from multiple companies can help Caballo drivers find the best deals.

Cheap Car Insurance Companies in Caballo, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
USAA	$622	$105
Encompass	$674	$113
State Farm	$674	$114
Nationwide	$752	$127
Progressive	$795	$134
Central Mutual	$847	$141
Farmers	$978	$165
Central Insurance	$1056	$176
Farm Bureau	$1061	$180
Allstate	$1234	$208
Kemper	$957	$159

Key Takeaways

Way's key takeaways about car insurance in Caballo

The auto insurance costs in Caballo fall around $622 for six months.
The cheapest auto insurance company in Caballo is Central Mutual.
Teen drivers pay the highest rate in Caballo at $625 per month.

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Cheapest Minimum Liability Car Insurance in Caballo

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 Caballo are given below.

Central Mutual provides the cheapest minimum car insurance coverage in Caballo. Their Average 6 Month Premium is $110. Allstate is the most expensive at $466 for the same period.

Cheapest Liability Coverage in Caballo, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Mutual	$110	$18
USAA	$141	$24
Central Insurance	$172	$29
Iowa Farm Bureau	$178	$30
Farm Bureau	$209	$35
Encompass	$215	$36
Progressive	$215	$36
State Farm	$230	$39
Kemper	$308	$53
Farmers	$334	$56
Nationwide	$345	$59
Allstate	$466	$78

Cheapest Full Coverage Car Insurance in Caballo

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 Caballo is USAA at $105 per month and $622 for six months.

Cheapest Full Coverage Car Insurance Quotes in Caballo, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
USAA	$622	$105
Encompass	$674	$113
State Farm	$674	$114
Nationwide	$752	$127
Progressive	$795	$134
Central Mutual	$847	$141
Farmers	$978	$165
Central Insurance	$1056	$176
Farm Bureau	$1061	$180
Allstate	$1234	$208
Kemper	$957	$159

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Average Car Insurance in Caballo 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 Caballo, NM increasing?

Despite maintaining a clean driving record, your car insurance rates in Caballo, 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, Caballo's high urban population density, raised auto theft rates, and frequent natural disasters contribute to increased insurance costs.

Car Insurance Premiums by Age in Caballo

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	$515
40s	MetLife	$480
50s	MetLife	$442
60s	MetLife	$420
70s	MetLife	$546

Cheapest Car Insurance Rates for Teen Drivers in Caballo,NM

If you are planning to get a car insurance policy for your teenage dependent, Central Insurance provides the cheapest car insurance in the Caballo at $27 per month. At $3711 for a six-month premium, Allstate offers the most expensive rate for teen drivers.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Insurance	$162	$27
Iowa Farm Bureau	$235	$40
Kemper	$240	$40
USAA	$868	$146
State Farm	$1396	$235
Farm Bureau	$1699	$289
Progressive	$2169	$365
Nationwide	$3074	$523
Farmers	$3602	$606
Allstate	$3711	$625

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 Caballo.

As young drivers face the highest rates in Caballo, MetLife offers the cheapest auto insurance rates at $515 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 Caballo, Kemper is the cheapest car insurance provider. At $288 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 Caballo is State Farm, offering rates of around $2462 for six months.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Kemper	$288	$49
USAA	$727	$121
Progressive	$742	$125
Farmers	$1270	$214
Farm Bureau	$1547	$263
Allstate	$1610	$268
State Farm	$2462	$419

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Car Insurance Rates with An Accident in Caballo

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 Caballo, NM, accidents can lead to significant hikes in your premiums.

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

The cheapest car insurance companies after an at-fault accident in Caballo include Central Mutual and Central Insurance, offering $110 and $235, respectively. Allstate is an expensive provider with an average six-month premium of $1856.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Mutual	$110	$18
Central Insurance	$235	$40
Encompass	$261	$44
Kemper	$282	$48
Iowa Farm Bureau	$288	$48
USAA	$455	$77
State Farm	$606	$102
Progressive	$664	$112
Farm Bureau	$1448	$241
Farmers	$1699	$286
Nationwide	$1725	$288
Allstate	$1856	$312

Caballo Car Insurance Rates by Violation

Here is a list of driving violations that can increase your car insurance rates in Caballo NM. For example, the car insurance in Caballo after a DUI increases to $825 for a six month policy. While the rate increases by $183 for a six-month policy in the case of a speeding ticket.

Caballo auto insurance quotes by violations

Accident/Violation	Avg. 6 Mo Premium	Avg. Monthly Premium
None	$884	$147
One Med/PIP claim	$894	$152
Not-at-fault accident	$920	$153
One comp claim	$925	$158
Two Med/PIP claims	$935	$156
Two comp claims	$962	$164
Failure to show documents	$972	$162
Failure to wear a seat belt	$978	$166
Child safety restraint	$1014	$169
Driving without lights	$1014	$172
In 65 MPH zone	$1045	$174
Cell phone violation	$1051	$179
Texting while driving	$1051	$175
At-fault accident - less than $1000	$1056	$180
Driving with expired registration	$1056	$176
Speeding 11 - 15 MPH over limit	$1067	$181
Speeding 16 - 20 MPH over limit	$1067	$178
Speeding 6 - 10 MPH over limit	$1067	$181
Driving too slowly	$1072	$179
Failure to stop at a red light	$1072	$182
Failure to yield	$1072	$179
Following too closely	$1072	$182
Illegal turn	$1072	$179
Improper passing	$1072	$182
Speeding in school zone	$1072	$179
Wrong way/wrong lane	$1072	$182
Passing school bus	$1088	$181
Operating a vehicle without permission	$1103	$187
Speeding 21 - 25 MPH over limit	$1103	$184
Open container	$1228	$209
At-fault accident - $1000-$2000	$1250	$209
At-fault accident - greater than $2000	$1260	$214
Reckless driving	$1636	$273
Driving with a suspended license	$1641	$279
Refusal to submit to a chemical test	$1662	$277
DUI	$1709	$290
Racing	$1746	$291
Leaving scene of an accident/hit and run	$1756	$298

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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 Caballo 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 Caballo.

The cheapest car insurance premiums in Caballo are offered by Kemper at $282 for a six-month policy. However, it can be as expensive as $1881 with companies like Farm Bureau.

Caballo car insurance quotes with a DUI

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Kemper	$282	$48
Central Insurance	$345	$59
Progressive	$617	$104
State Farm	$638	$107
USAA	$716	$121
Farmers	$1045	$176
Nationwide	$1129	$188
Allstate	$1511	$254
Farm Bureau	$1881	$313

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 Caballo are offered by Iowa Farm Bureau at $215. However, it can be as expensive as $2828 with companies like Allstate for a similar six-month premium.

Cheapest Car Insurance in Caballo after Speeding ticket

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Iowa Farm Bureau	$215	$36
USAA	$423	$70
State Farm	$491	$83
Progressive	$544	$92
Farm Bureau	$1113	$189
Farmers	$2284	$381
Allstate	$2828	$480

Car Insurance Price Trends in Caballo, New Mexico

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

The average cost of full coverage in the Caballo rose by $170 in December compared to $166 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 Caballo rose to $40 in December, compared to $38 in November. This represents an increase of $2 when comparing December and November.

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Frequently Asked Questions

How much is car insurance in Caballo?

The car insurance in Caballo is $18 per month, which is lower than the national average.

What is the cheapest car insurance in Caballo?

The cheapest car insurance in Caballo is $105 per month for full coverage.

How much is car insurance in Caballo for teenagers?

Car insurance for teenagers costs $162 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 Caballo?

The average cost of car insurance is $996 for a six-month policy. It will cost around $147 per month to insure your car in Caballo.

Is car insurance expensive in Caballo?

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

What is the best car insurance in Caballo, NM?

The best car insurance company in Caballo NM is USAA, offering $622 for a six-month policy.