Compare car insurance in New Mexico

Every state has slightly different driving laws and insurance requirements. Fortunately, getting car insurance in New Mexico isn’t too expensive or complicated compared to other states. Compare minimum coverage requirements and driving laws in New Mexico and how to get cheap car insurance.

Our top pick: Progressive

Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.

• Broad coverage, including for custom car parts or ridesharing
• Transparent pricing tools that help you buy within budget
• Accident forgiveness on small claims or for staying claim-free
• Stack a variety of discounts for multiple cars, autopay or homeownership

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• Top auto insurance companies in New Mexico
• List of insurance companies in New Mexico

Compare New Mexico car insurance providers

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Name	Product	Roadside assistance	New car protection	Accident forgiveness	Safe driver discount	Available states
Progressive		Optional			30%	All 50 states	Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.	Get quotes More Info	Compare	loading Fetching your data...
Esurance					40%	All states except AK, DE, HI, MT, NH, VT, WY	Take advantage of this online company's low base rates and mobile tools like app-based telematics and teen safe driver programs.	Get quotes More Info	Compare	loading Fetching your data...
Gabi		Optional	Optional		55%	All 50 states	Upload your current policy info and get quotes from 20+ companies who could get you a better rate.	Get quotes More Info	Compare	loading Fetching your data...
Liberty Mutual		Optional			30%	All 50 states	Earn free accident forgiveness after five years claims-free and customize your policy anytime online at the tap of a button.	Get quotes More Info	Compare	loading Fetching your data...
Allstate					13%	All 50 states	Your dedicated agent can help you find the best savings with multiple discounts and rewards programs.	Get quotes More Info	Compare	loading Fetching your data...
Geico		Optional			26%	All 50 states	Stack discounts up to 40% off already low premiums, with convenient mobile services like proof of insurance and claims.	More Info	Compare	loading Fetching your data...
Farmers					15%	All 50 states	Say hello to a local Farmers agent who can help you find the best savings from a long list of coverage options.	More Info	Compare	loading Fetching your data...

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Most popular New Mexico auto insurance companies list

Company	Direct premiums written (billions)	Market share
State Farm	$285,368	19.2%
Geico	$233,179	15.7%
Progressive	$200,336	13.5%
Farmers	$151,586	10.2%
USAA	$139,262	9.4%
Allstate	$102,787	6.9%
Liberty Mutual	$66,752	4.5%
Hartford	$38,672	2.6%
Sentry	$37,730	2.5%
Auto Club Exchange Group	$35,536	2.4%

Average car insurance costs in New Mexico

New Mexico’s average annual cost for auto insurance is just below the national average, coming in at around $1,200. So if you’re older than 25 and don’t have any major violations on your driving record, you can probably expect to pay around this much for coverage.

Because drivers in large cities are considered at a higher risk for accidents than people who live in suburbs or rural areas, these urban motorists tend to pay more for their coverage. You’ll likely see higher rates if you live in Albuquerque, which has more than half a million people, than out in Gallup, with its 22,000 residents or Silver City with 10,000.

However, because car insurance costs depend on so many factors, you could also find your rates significantly higher or lower than this average.

Which city has the cheapest car insurance in New Mexico?

Of New Mexico’s largest cities, Farmington has the cheapest rates and Albuquerque has the most expensive car insurance rates. Albuquerque drivers could face rates 3 times more than Farmington drivers.

• Albuquerque
• Rio Rancho
• Clovis
• Santa Fe
• Farmington

State minimum requirements in New Mexico

New Mexico requires all motorists on the road to carry a minimum level of auto insurance:

• $25,000 for bodily injury to or death of one person.
• $50,000 for bodily injury to or death of two or more people.
• $10,000 for property damage in any one accident.

You might see this abbreviated to 25/50/10 when you’re shopping for policies. If you’re pulled over and your car insurance isn’t at least to these standards, you can be fined or even have your license or registration suspended for being underinsured.

Some states require that drivers purchase uninsured or underinsured motorists coverage (UM/UIM), which pays for damages or injuries from a hit-and-run or an accident with a driver without proper coverage. While New Mexico requires you to carry UM/UIM, you can technically opt out of this coverage if you submit a written request.

Car insurance for high-risk drivers in New Mexico

If you have trouble finding coverage or were denied coverage because you’re a high-risk driver, the Western Association of Automobile Insurance Plans (WAAIP) can help.

WAAIP assigns you an affordable provider who won’t deny you based on risk. Any additional risk you pose to the insurer is spread across the WAAIP network.

Can I get SR-22 insurance in New Mexico?

You won’t need to file for SR-22 insurance in New Mexico unless you’re moving to New Mexico with an out-of-state SR-22. You might need an SR-22 if you’ve gotten a DUI, lost your license or have too many violation points on your driving record. An SR-22 filing tells the state you have the minimum coverage required to get back behind the wheel.

Bottom line

With New Mexico’s mandatory insurance laws and a relatively high risk of encountering uninsured drivers, at least the bare minimum coverage is necessary to get on the road legally. It’s likely you can find car insurance for lower than the national average, and with the right tools and tricks, you can narrow down the best insurance rates you’re eligible for.

Frequently asked questions

• Does my credit score affect my car insurance in New Mexico?

  Yes. Of the 47 US states that allow insurers to legally use your credit score when calculating car insurance rates, New Mexico is one of them.

• If I have out-of-state insurance, will that cover me in New Mexico?

  Yes, though in the short term — even if your state enforces lower minimum requirements and you technically fall beneath New Mexico’s coverage standards. But if you plan to spend longer than a few days in this state, you need coverage that meets local standards.