Cheap car insurance in New Mexico

How to get the best car insurance in New Mexico

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New Mexico street at night

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How much is 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.

New Mexico

Car insurance quick facts

25/50/10

Minimum liability requirements

$1,200

Average annual car insurance cost

60

Days to update your license

At-fault state

In at fault states, the driver who caused the accident pays for damages.

  • Top-rated insurer
  • Online quotes & claims
  • Bundle and save

Our top pick: Progressive

Save up to 31% with safe driver discounts and bundling all your rides in one convenient policy.

  • Top-rated insurer with 80 years of experience
  • Easy online sign-up and reporting
  • Multiple discounts available
  • Transparent quoting

Compare New Mexico car insurance providers

Name Product Roadside assistance New car protection Accident forgiveness Safe driver discount Available states
Optional
30%
All 50 states
Save up to 31% with safe driver discounts and bundling all your rides in one convenient policy.
Optional
26%
All 50 states
It's quick and easy to get an online quote with Geico, and you might be surprised at how much you could save.
52%
AZ, AR, CA, CO, CT, DE, GA, IL, IN, IA, KY, LA, MD, MS, MT, MO, NE, NM, ND, NV, OH, OK, OR, PA, SC, TN, TX, UT, VA
Root offers simple, affordable insurance that’s ideal for good drivers. Try the Root app for 2 weeks and see how much you could save.
Optional
Yes
All states except AK, HI, LA, MI, RI
Enjoy special benefits including rate lock, no-drop policies and accident recovery. Exclusively for drivers 50+.
Optional
30%
All 50 states
Enjoy premium perks like better car replacement and accident forgiveness plus local agent support.
Optional
Optional
55%
All 50 states
Get free quotes from top insurers for the exact coverage you need in minutes.
40%
All states except AK, DE, HI, MT, NH, VT, WY
Esurance offers a modern online and mobile experience that helps you take your insurance on the go. Available in 42 states.
13%
All 50 states
Enjoy having your own dedicated agent to help you get the best discounts and coverage.

Compare up to 4 providers

CompanyDirect premiums written (billions)Market share
State Farm$285,36819.2%
Geico$233,17915.7%
Progressive$200,33613.5%
Farmers$151,58610.2%
USAA$139,2629.4%
Allstate$102,7876.9%
Liberty Mutual$66,7524.5%
Hartford$38,6722.6%
Sentry$37,7302.5%
Auto Club Exchange Group$35,5362.4%

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.

Cheapest car insurance in New Mexico

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.

Car insurance quotes in Albuquerque

CompanyAnnual car insurance rate
Allstate$825
Farmers$1513
Metromile$817
Progressive$1024
Geico$954

Car insurance quotes in Rio Rancho

CompanyAnnual car insurance rate
Allstate$727
Farmers$1442
Metromile$759
Progressive$909
Geico$769

Car insurance quotes in Clovis

CompanyAnnual car insurance rate
Allstate$502
Farmers$1078
Metromile$589
Progressive$594
Geico$528

Car insurance quotes in Santa Fe

CompanyAnnual car insurance rate
Allstate$552
Farmers$1214
Metromile$721
Progressive$844
Geico$693

Car insurance quotes in Farmington

CompanyAnnual car insurance rate
Allstate$471
Farmers$948
Metromile$591
Progressive$633
Geico$548

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.

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.

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