Cheapest Car Insurance Quotes in Fairacres

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Fairacres Car Insurance

^$ 21

/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 Fairacres

The car insurance rate in Fairacres is $976 for a six-month policy, which is $20 lower than the higher than the state average. Root Insurance Company offers the lowest rates in the city at $693, making it a popular choice for budget-conscious drivers. Rates in Fairacres 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 Fairacres

$976

Avg. Car Insurance in New Mexico

$996

National Average

$1140

Cheapest Car Insurance Companies in Fairacres

1st place: USAA

At $693 for a six month policy, USAA offers the cheapest auto insurance rates in the city.

2nd place: Encompass

Encompass offers auto insurance rates at $751 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 $751 for six months, making it the third cheapest auto insurance company in Fairacres.

Fairacres Car Insurance Rates by Company

Based on our research, the cheapest car insurance company in Fairacres, NM is USAA, offering policies at just $693 for a six-month term. This is followed by Encompass, which has an average six-month premium of $751.

At the higher end of the spectrum, Kemper is the most expensive, with rates reaching $1065 for a six-month policy. Rates can vary widely by driver, but comparing quotes from multiple companies can help Fairacres drivers find the best deals.

Cheap Car Insurance Companies in Fairacres, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
USAA	$693	$117
Encompass	$751	$125
State Farm	$751	$126
Nationwide	$838	$141
Progressive	$885	$149
Central Mutual	$943	$157
Farmers	$1089	$183
Central Insurance	$1176	$196
Farm Bureau	$1182	$201
Allstate	$1374	$231
Kemper	$1065	$177

Key Takeaways

Way's key takeaways about car insurance in Fairacres

The auto insurance costs in Fairacres fall around $693 for six months.
The cheapest auto insurance company in Fairacres is Central Mutual.
Teen drivers pay the highest rate in Fairacres at $696 per month.

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Cheapest Minimum Liability Car Insurance in Fairacres

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 Fairacres are given below.

Central Mutual provides the cheapest minimum car insurance coverage in Fairacres. Their Average 6 Month Premium is $123. Allstate is the most expensive at $518 for the same period.

Cheapest Liability Coverage in Fairacres, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Mutual	$123	$21
USAA	$157	$26
Central Insurance	$192	$32
Iowa Farm Bureau	$198	$33
Farm Bureau	$233	$39
Encompass	$239	$40
Progressive	$239	$40
State Farm	$256	$43
Kemper	$343	$59
Farmers	$372	$63
Nationwide	$384	$66
Allstate	$518	$87

Cheapest Full Coverage Car Insurance in Fairacres

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 Fairacres is USAA at $117 per month and $693 for six months.

Cheapest Full Coverage Car Insurance Quotes in Fairacres, NM

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
USAA	$693	$117
Encompass	$751	$125
State Farm	$751	$126
Nationwide	$838	$141
Progressive	$885	$149
Central Mutual	$943	$157
Farmers	$1089	$183
Central Insurance	$1176	$196
Farm Bureau	$1182	$201
Allstate	$1374	$231
Kemper	$1065	$177

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Average Car Insurance in Fairacres 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 Fairacres, NM increasing?

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

Car Insurance Premiums by Age in Fairacres

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	$573
40s	MetLife	$535
50s	MetLife	$492
60s	MetLife	$467
70s	MetLife	$608

Cheapest Car Insurance Rates for Teen Drivers in Fairacres,NM

If you are planning to get a car insurance policy for your teenage dependent, Central Insurance provides the cheapest car insurance in the Fairacres at $30 per month. At $4133 for a six-month premium, Allstate offers the most expensive rate for teen drivers.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Insurance	$180	$30
Iowa Farm Bureau	$262	$44
Kemper	$268	$45
USAA	$966	$163
State Farm	$1554	$262
Farm Bureau	$1892	$321
Progressive	$2416	$407
Nationwide	$3423	$582
Farmers	$4011	$675
Allstate	$4133	$696

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 Fairacres.

As young drivers face the highest rates in Fairacres, MetLife offers the cheapest auto insurance rates at $573 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 Fairacres, Kemper is the cheapest car insurance provider. At $320 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 Fairacres is State Farm, offering rates of around $2742 for six months.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Kemper	$320	$55
USAA	$809	$135
Progressive	$826	$139
Farmers	$1414	$238
Farm Bureau	$1723	$293
Allstate	$1793	$299
State Farm	$2742	$466

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Car Insurance Rates with An Accident in Fairacres

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

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

The cheapest car insurance companies after an at-fault accident in Fairacres include Central Mutual and Central Insurance, offering $123 and $262, respectively. Allstate is an expensive provider with an average six-month premium of $2067.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Central Mutual	$123	$21
Central Insurance	$262	$44
Encompass	$291	$49
Kemper	$315	$54
Iowa Farm Bureau	$320	$53
USAA	$507	$85
State Farm	$675	$114
Progressive	$739	$124
Farm Bureau	$1612	$269
Farmers	$1892	$319
Nationwide	$1921	$320
Allstate	$2067	$348

Fairacres Car Insurance Rates by Violation

Here is a list of driving violations that can increase your car insurance rates in Fairacres NM. For example, the car insurance in Fairacres after a DUI increases to $919 for a six month policy. While the rate increases by $204 for a six-month policy in the case of a speeding ticket.

Fairacres auto insurance quotes by violations

Accident/Violation	Avg. 6 Mo Premium	Avg. Monthly Premium
None	$984	$164
One Med/PIP claim	$996	$170
Not-at-fault accident	$1024	$171
One comp claim	$1030	$175
Two Med/PIP claims	$1042	$173
Two comp claims	$1071	$182
Failure to show documents	$1083	$180
Failure to wear a seat belt	$1089	$185
Child safety restraint	$1129	$188
Driving without lights	$1129	$192
In 65 MPH zone	$1164	$194
Cell phone violation	$1170	$199
Texting while driving	$1170	$195
At-fault accident - less than $1000	$1176	$200
Driving with expired registration	$1176	$196
Speeding 11 - 15 MPH over limit	$1188	$202
Speeding 16 - 20 MPH over limit	$1188	$198
Speeding 6 - 10 MPH over limit	$1188	$202
Driving too slowly	$1194	$199
Failure to stop at a red light	$1194	$203
Failure to yield	$1194	$199
Following too closely	$1194	$203
Illegal turn	$1194	$199
Improper passing	$1194	$203
Speeding in school zone	$1194	$199
Wrong way/wrong lane	$1194	$203
Passing school bus	$1211	$202
Operating a vehicle without permission	$1228	$209
Speeding 21 - 25 MPH over limit	$1228	$205
Open container	$1368	$232
At-fault accident - $1000-$2000	$1392	$232
At-fault accident - greater than $2000	$1403	$238
Reckless driving	$1822	$304
Driving with a suspended license	$1828	$311
Refusal to submit to a chemical test	$1851	$309
DUI	$1903	$323
Racing	$1944	$324
Leaving scene of an accident/hit and run	$1956	$332

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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 Fairacres 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 Fairacres.

The cheapest car insurance premiums in Fairacres are offered by Kemper at $315 for a six-month policy. However, it can be as expensive as $2095 with companies like Farm Bureau.

Fairacres car insurance quotes with a DUI

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Kemper	$315	$53
Central Insurance	$384	$66
Progressive	$687	$116
State Farm	$711	$120
USAA	$798	$134
Farmers	$1164	$196
Nationwide	$1257	$210
Allstate	$1683	$283
Farm Bureau	$2095	$349

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 Fairacres are offered by Iowa Farm Bureau at $239. However, it can be as expensive as $3150 with companies like Allstate for a similar six-month premium.

Cheapest Car Insurance in Fairacres after Speeding ticket

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Iowa Farm Bureau	$239	$40
USAA	$471	$78
State Farm	$547	$92
Progressive	$606	$102
Farm Bureau	$1240	$211
Farmers	$2544	$424
Allstate	$3150	$535

Car Insurance Price Trends in Fairacres, New Mexico

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

The average cost of full coverage in the Fairacres rose by $189 in December compared to $185 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 Fairacres rose to $45 in December, compared to $42 in November. This represents an increase of $3 when comparing December and November.

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Frequently Asked Questions

How much is car insurance in Fairacres?

The car insurance in Fairacres is $21 per month, which is lower than the national average.

What is the cheapest car insurance in Fairacres?

The cheapest car insurance in Fairacres is $117 per month for full coverage.

How much is car insurance in Fairacres for teenagers?

Car insurance for teenagers costs $180 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 Fairacres?

The average cost of car insurance is $996 for a six-month policy. It will cost around $164 per month to insure your car in Fairacres.

Is car insurance expensive in Fairacres?

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

What is the best car insurance in Fairacres, NM?

The best car insurance company in Fairacres NM is USAA, offering $693 for a six-month policy.