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Compare car insurance in New Mexico

Get the cheapest car insurance in New Mexico for 2021

The average annual cost of car insurance in New Mexico is $1,200. Narrow down car insurers offering coverage in New Mexico by roadside assistance, accident forgiveness and more to get a quote.

Name Product Roadside assistance New car protection Accident forgiveness Safe driver discount Available states
The AARP Auto Insurance Program from The Hartford
All 50 states
Enjoy low rates for mature drivers, plus perks like new car replacement and lifetime repair guarantees. Only for drivers over age 50.
All 50 states & DC
Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.
All 50 states & DC
Affordable car insurance with highly rated customer service. Only available to military members and veterans and their family.
Available in 31 states
Track your driving to receive a low rate that reflects your driving skills, and enjoy a fully app-based policy experience.
All 50 states except AK & HI
Upload your current policy info and get quotes from 40+ companies. Switch and save an average of $961 a year.
All 50 states
Your dedicated agent can help you find the best savings with multiple discounts and rewards programs.

Compare up to 4 providers

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


Minimum liability requirements


Average annual car insurance cost


Days to update your license

At-fault state

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

CompanyDirect premiums written (billions)Market share
State Farm$285,36819.2%
Liberty Mutual$66,7524.5%
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.

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

Car insurance quotes in Rio Rancho

CompanyAnnual car insurance rate

Car insurance quotes in Clovis

CompanyAnnual car insurance rate

Car insurance quotes in Santa Fe

CompanyAnnual car insurance rate

Car insurance quotes in Farmington

CompanyAnnual car insurance rate

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.

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