- 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
- Average cost of non-owner car insurance in New Mexico
- Non-owner car insurance in New Mexico by age and gender
- Non-owner vs. traditional car insurance
- What does New Mexico non-owner car insurance cover?
- 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 insurance in New Mexico is from Central Insurance, with an average rate of $119. The second most affordable option in New Mexico is State Farm, with an average rate of $149.
The table below shows the most affordable non-owner car insurance companies in New Mexico.
| 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
While State Farm is the top choice, GEICO and Progressive are also great options for 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 (NAIC).
The table below shows a comparison of the best 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
Explore our top recommendations for non-owner car insurance in New Mexico.
State Farm
Our top choice for non-owner car insurance in New Mexico is State Farm, with an average rate of $149 for liability coverage. State Farm holds an AM Best rating of A++ and has an NAIC complaint ratio of 0.7.
GEICO
GEICO is also a great choice for non-owner car insurance in New Mexico, offering coverage at an average annual rate of $448. It has earned an AM Best rating of A++ and maintains a low NAIC complaint ratio of 0.91.
Progressive
Our third choice is Progressive, with an average rate of $410. It has an NAIC complaint ratio of 0.65 and an AM Best rating of A+.
PEOPLE ASK:
Do I need New Mexico non-owner car insurance to drive a friend's car?
Probably not, unless you use the car a lot. If you only drive your friend's car occasionally, their insurance usually covers it under something called permissive use-as long as it's less than 12 times a year. Still, it's a good idea to check with your friend's insurance company just to be sure.
Average cost of non-owner car insurance in New Mexico
The average cost of non-owner car insurance in New Mexico is $293, but your rate may differ depending on your driving record, age and the coverage you choose.
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 |
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.
Furthermore, because insurance companies anticipate that people who don't own a car will drive less frequently, and because non-owner car insurance is secondary 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 |
What does New Mexico non-owner car insurance cover?
A New Mexico non-owner car insurance policy provides only the basic coverage required to drive legally. It satisfies all the minimum car insurance requirements in New Mexico, but it won't cover any damage to the vehicle you're driving.
Non-owner car insurance is considered secondary coverage, meaning it only kicks in after the car owner's policy limits are exceeded.
The bottom line: Non-owner car insurance in New Mexico
New Mexico drivers may need non-owner car insurance for various reasons, such as renting or borrowing a car. However, this type of coverage typically only offers liability coverage to pay for property damage or bodily injuries you cause to others. Coverage does not extend to you or the vehicle you're driving.
In New Mexico, non-owner car insurance costs an average of $293, with Central Insurance offering the most affordable rates. Based on our research, State Farm stands out as the best overall option. Remember, factors like your age, gender and driving history can significantly affect your insurance rates.
Methodology
170+
insurance companies analyzed
34,000+
ZIP codes examined
$53M
insurance quotes analyzed
Non-owner car insurance rates were fielded by Quadrant Data Services for a sample policy based on:
- A 40-year-old driver
- A clean record
- Good credit
- State minimum insurance, which includes liability coverage and may also include personal injury protection, medical payments and uninsured motorist coverage
Best company rankings use the rate data outline above, as well as:
- Customer complaints ratios 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 from J.D. Power's U.S. Auto Insurance Study, where companies are scored out of 1,000.
- 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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