Cheap car insurance in New Mexico
It is mandatory to get car insurance in New Mexico for drivers to drive legally in the state. Different companies in New Mexico provide car insurance at different rates. According to data gathered by MyMoneyMyQuotes following are the cheap car insurance providers that offer car insurance at affordable rates in New Mexico:
| Name of the Company | Average annual car insurance premiums |
| Safeco | $999 |
| USAA | $1028 |
| State Farm | $1067 |
| Allied | $1250 |
| Farm Bureau Mutual | $1259 |
| Dairyland | $1325 |
| The Hartford | $1344 |
| GEICO | $1428 |
| Central Mutual Insurance Co | $1459 |
| Progressive | $1519 |
| Cal Casualty | $1612 |
| MetLife | $1615 |
| Metropolitan | $1698 |
| Farmers | $1870 |
| Allstate | $2590 |
| Encompass | $4500 |
Cheap car insurance in New Mexico for good drivers
Car insurance companies may charge high car insurance premiums from drivers in New Mexico with histories of speeding tickets, at-fault accidents, or DUI citations. Car insurance companies in New Mexico provide discounts on car insurance premiums to those who have a good driving history but discount rates vary from company to company. You can save money on a car insurance policy in New Mexico by maintaining a good driving record. Most auto insurance companies in New Mexico provide a 5-10% good driver discount to those having a good driving history without violations.
- Drivers with no traffic ticket may save $253 on car insurance premiums in New Mexico.
- Drivers may save $660 on car insurance premiums if they have an accident-free record in New Mexico.
- By maintaining a good credit history you may save $885 on car insurance premiums in New Mexico.
Cheap car insurance for inexperienced drivers in New Mexico
Most auto insurance providers may charge high auto insurance premiums in New Mexico from young or inexperienced drivers because inexperienced drivers are riskier for auto insurance companies than experienced drivers. Auto insurance premiums in New Mexico vary according to the age of the drivers. Some companies charge high auto insurance costs from young drivers in New Mexico.
| Age | Average annual auto insurance premiums with parents | Average annual auto insurance premiums for young drivers alone |
| 16 | $5152 | $6867 |
| 17 | $4925 | $6032 |
| 18 | $4640 | $5097 |
| 19 | $4149 | $3149 |
Affordable auto insurance in New Mexico for high-risk drivers
Car insurance companies in New Mexico charge high auto insurance premiums from those drivers who have a bad driving history as compared to the drivers those who have no at-fault accidents, speeding tickets, or DUIs. Drivers with a good driving record in New Mexico can save money on auto insurance policies because auto insurance companies check the driving record of the past 3 to 5 years to decide the car insurance cost. Drivers with a good driving history in New Mexico may get discounts on car insurance policies.
| Rating factor | Average annual car insurance premium |
| At-Fault Accident | $1977 |
| DUI | $2022 |
| Speeding Violation | $1569 |
| Bad Credit | $2200 |
Best car insurance companies in New Mexico
Car insurance prices in New Mexico may vary from company to company. Some companies in New Mexico charge lower car insurance premiums than others. To get the best auto insurance policy in New Mexico you should check the reputation and services of the insurance companies because finding an affordable car insurance policy is not just enough. You can find the best auto insurance company in New Mexico by comparing car insurance quotes from different car insurance providers. According to the data gathered by the MyMoneyMyQuotes following are the best car insurance providers in New Mexico:
- Allstate
- Cal Casualty
- Central Mutual
- Encompass
- Farmers
- GEICO
- Liberty Mutual
- MetLife
- Progressive
- Safeco
- Sentry
- State Farm
- The Hartford
- Travelers
- USAA
What auto insurance coverage is mandatory to purchase for drivers in New Mexico?
The average annual cost to get the minimum required coverage in New Mexico may around $615. The minimum required coverage for drivers in New Mexico to drive legally in the state is:
| Coverage type | Coverage limit |
| Bodily injury coverage per person | $25000 |
| Bodily injury per accident | $50000 |
| Property damage per accident | $10000 |
The state minimum auto insurance requirements in New Mexico
The state minimum auto insurance coverage requirement in New Mexico is liability coverage.
- $25000 bodily injury coverage per person is required in New Mexico.
- $50000 bodily injury coverage per accident is required in New Mexico.
- $10000 property damage coverage per accident is required in New Mexico.
Other types of optional coverages in New Mexico are:
- Comprehensive
- Collision
- Roadside Assistance
- Loan/Lease Payoff
- Rental Car Reimbursement
- Underinsured Motorist Bodily Injury
- Medical Payments
- Uninsured Motorist Property Damage
Fine for driving without car insurance in New Mexico
If anyone caught driving without a car insurance policy in New Mexico then police may charge a fine.
Car insurance prices by cities in New Mexico
Car insurance premiums in New Mexico may vary from city to city. In some cities of New Mexico, car insurance prices are high compared to others.
| City | Average annual insurance premiums |
| Albuquerque | $1560 |
| Rio Rancho | $1437 |
| Espanola | $1435 |
| Lovington | $1419 |
| Hobbs | $1412 |
| Carlsbad | $1387 |
| Santa Fe | $1360 |
| Roswell | $1359 |
| Las Vegas | $1346 |
| Artesia | $1330 |
| Chaparral | $1290 |
| Sunland Park | $1286 |
| Los Alamos | $1282 |
| Anthony | $1265 |
| Gallup | $1252 |
| Portales | $1237 |
| Las Cruces | $1220 |
| Farmington | $1215 |
| Silver City | $1200 |
| Deming | $1170 |
| Alamogordo | $1140 |
If you are looking for a car insurance deal in New Mexico, you can compare car insurance quotes provided for free by MyMoneyMyQuotes.com to get yourself the best possible deal.
