The cost of car insurance in New Mexico can vary greatly, depending on your driving history, coverage options you choose and the type of car you drive among other factors. The average cost of auto insurance in New Mexico is $1,509 annually for the profile of a 30-year-old driver.
When comparing quotes from different companies make sure you take the time to do your research so that you know which company provides excellent service at a fair price.
- The state minimum coverage in New Mexico costs $372 annually.
- The cheapest full coverage policy for New Mexico drivers is offered by Geico at $960 per year.
- Teen drivers in New Mexico get the cheapest car insurance from Geico at $2,898 a year.
- For drivers with a DUI on their driving history in New Mexico, State Farm offers the cheapest rates at $2,423 per year.
- Cheapest car insurance companies in New Mexico
- Cheapest car insurance for teens in New Mexico
- Cheapest car insurance for young drivers in New Mexico
- Cheapest car insurance for adults in New Mexico
- Cheapest car insurance for seniors in New Mexico
- Cheapest car insurance rates in New Mexico by driving record
- Average cost of car insurance in New Mexico
Cheapest car insurance companies in New Mexico
Geico is the cheapest car insurance company in New Mexico that offers full coverage policy at about $960 per year or $80 monthly. We have gathered insurance quotes from major insurance companies and compiled a list of the cheapest auto insurers in New Mexico.
Following is the list of the cheap auto insurance companies and their average annual and monthly premium.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| Geico | $960 | $80 |
| USAA | $1,036 | $86 |
| Nationwide | $1,140 | $95 |
| State Farm | $1,155 | $96 |
| Farmers | $1,396 | $116 |
| Progressive | $1,535 | $128 |
| Allstate | $1,964 | $164 |
| Kemper Insurance | $2,027 | $169 |
| Iowa Farm Bureau | $2,369 | $197 |
Cheapest car insurance for teens in New Mexico
Geico is the cheapest car insurance provider for teen drivers in New Mexico. It offers insurance at about $2,898 a year. The average price of car insurance for a teenage driver can be more expensive than that for an older or mature driver. This is because they are more likely to be involved in accidents and make claims on their policies, therefore leading to higher insurance premiums.
| Company | Average annual premium |
|---|---|
| Geico | $2,898 |
| USAA | $2,980 |
| State Farm | $3,342 |
| Nationwide | $3,882 |
| Iowa Farm Bureau | $4,412 |
| Progressive | $5,755 |
| Allstate | $6,372 |
| Farmers | $6,534 |
| Kemper Insurance | $7,383 |
Cheapest car insurance for young drivers in New Mexico
The cheapest car insurance company for young drivers in New Mexico is Geico at about $1,488 a year, on average. As young adults gain more experience behind the wheel, their auto insurance rates become considerably lower.
| Company | Average annual premium |
|---|---|
| Geico | $1,488 |
| USAA | $1,545 |
| Nationwide | $1,943 |
| State Farm | $1,962 |
| Progressive | $2,385 |
| Farmers | $2,691 |
| Iowa Farm Bureau | $2,975 |
| Allstate | $3,333 |
| Kemper Insurance | $3,439 |
Cheapest car insurance for adults in New Mexico
According to Insurance.com's rate analysis, Geico offers the cheapest car insurance for adults in New Mexico. Its average rate is $1,004 annually.
Below are the companies that offer cheap insurance rates for adult drivers in New Mexico.
| Company | Average annual premium |
|---|---|
| Geico | $1,004 |
| USAA | $1,065 |
| Nationwide | $1,160 |
| State Farm | $1,184 |
| Farmers | $1,391 |
| Progressive | $1,574 |
| Allstate | $1,986 |
| Kemper Insurance | $2,085 |
| Iowa Farm Bureau | $2,396 |
Cheapest car insurance for seniors in New Mexico
Geico offers the cheapest car insurance for seniors in New Mexico. The average annual premium offered is $971. Senior drivers experience higher insurance rates, but shopping around can help them save hundreds of dollars every year.
Below is the list of companies that offer the cheapest car insurance for seniors in New Mexico:
| Company | Average annual premium |
|---|---|
| Geico | $971 |
| USAA | $1,064 |
| State Farm | $1,099 |
| Nationwide | $1,103 |
| Farmers | $1,438 |
| Progressive | $1,611 |
| Allstate | $1,993 |
| Kemper Insurance | $2,034 |
| Iowa Farm Bureau | $2,214 |
Cheapest car insurance rates in New Mexico by driving record
The insurance rates differ based on your driving record. Having a clean driving record may help you save money on your auto insurance premium. But drivers with a history of speeding tickets, reckless driving or at-fault accident may experience higher insurance rates. This is because they pose greater risk than a driver with a clean driving history in the eyes of an insurer.
Cheapest auto insurance for drivers with poor credit: Geico
Geico has the cheapest auto insurance for drivers with poor credit at about $2,496 annually. If you have poor credit, getting cheap car insurance can be challenging. But the only way to find affordable auto insurance is by shopping around and comparing quotes from multiple insurers.| Company | Average annual premium |
|---|---|
| Geico | $1,590 |
| Nationwide | $1,797 |
| USAA | $2,072 |
| Progressive | $2,529 |
| State Farm | $2,640 |
| Farmers | $2,721 |
| Allstate | $2,841 |
| Kemper | $2,934 |
| Iowa Farm Bureau | $3,781 |
Cheapest auto insurance for drivers with a speeding ticket: USAA
If you have a speeding ticket on your record, USAA offers the cheapest car insurance at about $2,032 a year. Since all insurance companies calculate rates differently, it is important to get multiple quotes from different companies to get the best deal for yourself.
| Company | Average annual premium |
|---|---|
| USAA | $1,358 |
| Nationwide | $1,428 |
| State Farm | $1,442 |
| Geico | $1,754 |
| Progressive | $2,126 |
| Farmers | $2,210 |
| Allstate | $2,398 |
| Kemper | $2,862 |
| Iowa Farm Bureau | $3,068 |
Cheapest auto insurance after an at-fault accident : State Farm
State Farm offers the cheapest car insurance after an at-fault accident. Its average cost for New Mexico drivers is $2,310 annually. If you are a safe driver with no history of traffic violations, then it is likely that your insurance rates will be lower than those who have an at-fault accident on their record.| Company | Average annual premium |
|---|---|
| State Farm | $1,442 |
| USAA | $1,619 |
| Nationwide | $1,766 |
| Geico | $1,902 |
| Farmers | $2,412 |
| Progressive | $2,561 |
| Allstate | $2,950 |
| Kemper | $3,017 |
| Iowa Farm Bureau | $3,554 |
Cheapest auto insurance after a DUI : State Farm
If there exists DUI on your driving record, State Farm offers the cheapest auto insurance in New Mexico at $2,423 per year. To find the best deal, it is required to shop around and compare insurance quotes.
The table below lists the cheapest car insurance companies after DUI in New Mexico, along with their average annual premium.
| Company | Average annual premium |
|---|---|
| State Farm | $1,442 |
| Progressive | $1,900 |
| USAA | $2,146 |
| Geico | $2,182 |
| Nationwide | $2,202 |
| Farmers | $2,315 |
| Allstate | $2,949 |
| Kemper | $2,961 |
| Iowa Farm Bureau | $4,380 |
Average cost of car insurance in New Mexico
The average car insurance rate for full coverage in New Mexico is $1,509 per year. This rate is for the coverage level of $100,000 for bodily injury coverage per person, $30,000 for bodily injury per accident and property damage coverage of $100,000.
The state minimum average rate in New Mexico is $372 annually.
