- Cheapest non-owner car insurance companies in New Mexico
- Best non-owner car insurance in New Mexico
- Insurance.com's top choices for non-owner car insurance
- Non-owner car insurance in New Mexico by age and gender
- Average annual rates for non-owner vs. traditional car insurance
- Average cost of non-owner car insurance in New Mexico
- The bottom line: Non-owner car insurance in New Mexico
- Methodology
- Compare New Mexico non-owners car insurance rates with other states
Cheapest non-owner car insurance companies in New Mexico
The cheapest non-owner car insurer in New Mexico is Central Insurance, with rates averaging $119. The second cheapest New Mexico non-owner insurer is State Farm. Average rates are $149.
Compare the cheapest non-owner car insurance companies in New Mexico below.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| Central Insurance | $119 | $10 |
| State Farm | $149 | $12 |
| Iowa Farm Bureau | $175 | $15 |
| Kemper | $266 | $22 |
| Farmers | $397 | $33 |
| Progressive | $410 | $34 |
| Geico | $448 | $37 |
| Nationwide | $486 | $41 |
| USAA | $188 | $16 |
Best non-owner car insurance in New Mexico
Although State Farm came out on top, Geico and Progressive are also excellent choices for providing non-owner coverage.
To find the best non-owner car insurance companies in New Mexico, we looked at several factors, including how many complaints each company receives, financial stability and average rates. We used rate data from Quadrant Information Services as well as third-party ratings from J.D. Power, AM Best and the National Association of Insurance Commissioners.
The table below compares the top non-owner car insurance companies in New Mexico.
| Company | Average annual premium | J.D. Power | NAIC | AM Best | Overall score |
|---|---|---|---|---|---|
| State Farm | $149 | 783 | 0.70 | A++ | 4.03 |
| Geico | $448 | 801 | 0.91 | A++ | 3.24 |
| Progressive | $410 | 828 | 0.65 | A+ | 3.23 |
| Farmers | $397 | 835 | 0.80 | A | 3.14 |
| Nationwide | $486 | 808 | 0.64 | A+ | 3.04 |
| Kemper Insurance | $266 | 736 | 2.16 | A- | 2.07 |
Insurance.com's top choices for non-owner car insurance
Take a closer look at our top picks for non-owner car insurance in New Mexico.
State Farm
Our number one pick for non-owner car insurance in New Mexico is State Farm. The average rate for liability coverage is $149. State Farm has an AM Best score of A++ and an NAIC complaint ratio of 0.7.
Geico
Geico is another great option for non-owner car insurance in New Mexico, with average rates of $448 per year. It has an AM Best rating of A++ and a low NAIC complaint ratio of 0.91.
Progressive
Our third pick is Progressive. Progressive rates average $410. Its NAIC complaint ratio is 0.65, and it has a rating of A+.
Non-owner car insurance in New Mexico by age and gender
Your age and gender can impact your rates, whether you're shopping for non-owner or standard car insurance in New Mexico.
Age plays an important role in calculating car insurance rates. Younger drivers have less experience and are more likely to have accidents, so insurance companies charge higher rates to cover the risk.
Gender is another factor that affects car insurance rates in most states. Men are often considered higher-risk drivers and tend to have more accidents, resulting in higher premiums.
Here are the average New Mexico non-owner car insurance rates by age and gender.
| Age group | Female | Male |
|---|---|---|
| Teens (16-19) | $882 | $843 |
| Young Adults (20-24) | $444 | $436 |
| Adults (25-60) | $291 | $296 |
| Seniors (65-75) | $323 | $315 |
Average annual rates for non-owner vs. traditional car insurance
Non-owner car insurance is typically cheaper than standard car insurance since coverage is minimal. Non-owner car insurance only includes liability coverage, while owner car insurance can include a lot more coverage.
For example, non-owner car insurance in New Mexico doesn't pay for damages to the car you're driving or any injuries you sustain. Owner car insurance can include collision and comprehensive coverage to pay for vehicle damages.
Insurance companies assume that people without a car drive less often, and because non-owner car insurance works as a backup to the owner's policy, the risk of a claimAn insurance claim is a request you make to your insurance company for coverage after your car is damaged or you have an accident. You can file a claim online, by phone, or in writing. is much lower.
The table below shows a comparison of average yearly rates for non-owner and standard car insurance.
| Non-owners state minimum policy | $293 |
| Traditional state minimum policy | $421 |
| State minimum car insurance limits | 25/50/10 |
Average cost of non-owner car insurance in New Mexico
The average cost of non-owner car insurance in New Mexico is $293, but rates may vary based on factors such as your driving record, age, and coverage level.
The bottom line: Non-owner car insurance in New Mexico
Drivers in New Mexico may need non-owner car insurance if they frequently rent or borrow a car. This coverage only includes liability protection, which pays for property damage or injuries you cause to others. It doesn't cover you or the car you're driving.
Non-owners car insurance averages $293 in New Mexico, and Central Insurance offers the lowest rates. In our analysis, State Farm was the top pick overall. Remember that your age, gender, and driving record significantly impact insurance rates.
Take the time to compare options to find the best non-owner car insurance in New Mexico. Use the tool above to easily compare non-owner insurance providers near you.
Expert's Insight
"Consumers may think it's only important to maintain insurance when they own a vehicle, without realizing that gaps in insurance coverage might disqualify them from the benefit of certain discounts. Some individuals will cancel their auto policy when they're between vehicles or simply don't have regular access to a vehicle. Demonstrating a history of continuous insurance coverage can not only help you qualify for future discounts but can also provide you protection and peace of mind in the event you are involved in an accident while driving, or even riding in, someone else's car. A non-owner policy is an inexpensive way to accomplish both," says Rick Kautzer, director of product management at Dairyland Insurance.
Methodology
Insurance.com analyzed non-owner car insurance companies in 2024 to find the cheapest and the best overall based on rates and third-party ratings.
Non-owner car insurance rates were fielded by Quadrant Data Services for a sample policy based on a 40-year-old driver with a clean record and good credit for a state minimum liability policy. These rates were one of the factors used to rank the best companies.
For additional data points in the ranking, customer complaints ratios were pulled from the National Association of Insurance Commissioners (NAIC) complaints database, where a score of 1.00 is considered the baseline and anything below is a low complaint volume while anything above is considered a high volume. Overall customer satisfaction ratings were drawn from J.D. Power's U.S. Auto Insurance Study, where companies are scored out of 1,000. Finally, AM Best financial ratings were used to indicate financial stability, where the best possible score is A++.
Compare New Mexico non-owners car insurance rates with other states
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