Best cheap car insurance in NM
Geico and State Farm are the cheapest companies for most people in New Mexico.
- Want full coverage? Geico: $167/mo
- Only need minimum coverage? State Farm: $49/mo
- Want the best service? State Farm: $176/mo
- Have a speeding ticket? State Farm: $189/mo
- Caused an accident? State Farm: $176/mo
- Need coverage for a teen? Geico: $126/mo
- Got a DUI? Geico: $245/mo
- Have poor credit? Geico: $269/mo
Monthly rates are based on full coverage car insurance for a 30-year-old man. Some rates use different ages or coverage limits.
Cheapest car insurance in New Mexico: Geico
Geico, State Farm and USAA are the top picks for full coverage in New Mexico.
- Geico is the cheapest option for most New Mexico drivers, at $167 per month.
- State Farm also offers affordable full coverage, at around $176 per month. State Farm has better customer service reviews than Geico, so it could be the best choice for many drivers in New Mexico.
- USAA has even cheaper rates for New Mexico drivers with military ties. Full coverage insurance from USAA costs just $88 per month, but only military members, veterans and some of their family members can get insurance from USAA.
Find Cheap Car Insurance Quotes in New Mexico
Cheap full coverage auto insurance in NM
Company | Monthly rate |
|---|---|
| Geico | $167 |
| State Farm | $176 |
| Allstate | $215 |
| Farm Bureau | $258 |
| USAA* | $88 |
*USAA is only available to current and former military members and their families.
Data-powered research on New Mexico car insurance
Cheapest liability insurance quotes in New Mexico: State Farm
State Farm and Farm Bureau offer the best value for most New Mexico drivers shopping for minimum liability insurance.
- State Farm charges around $49 per month for a minimum liability policy. That's 31% less than the state average.
- Farm Bureau also offers affordable policies, at $52 per month.
- USAA offers the absolute cheapest rates, at $23 per month. But USAA is only available to people who have served in the military and their families.
Best cheap New Mexico liability insurance
Company | Monthly rate |
|---|---|
| State Farm | $49 |
| Farm Bureau | $52 |
| Geico | $76 |
| Farmers | $87 |
| USAA* | $23 |
*USAA is only available to current and former military members and their families.
Find Cheap Car Insurance Quotes in New Mexico
Senior Writer, Licensed Property and Casualty Insurance Agent
New Mexico doesn't require drivers to have much coverage for the damage they cause in accidents. If you buy state minimum coverage, you only have $10,000 to pay for any damage you cause to someone's vehicle or other property in an accident.
Cars now usually cost much more than $10,000 to replace. And in New Mexico, there are over 1.2 million registered trucks on the road with an average value of about $30,000.
If you have state minimum coverage and you total someone's car or truck, you'll likely be paying very high bills to replace their vehicle.Nearly everyone in New Mexico should consider getting more coverage than the state minimum limits. Even if you don't need full coverage, you can get higher bodily injury liability and property damage liability limits to better protect yourself.
State minimum coverage is only a decent option if you can't afford anything else.
Top car insurance in New Mexico by city
- Geico is the cheapest company in three-quarters of cities and towns across New Mexico, including Albuquerque, Las Cruces, Rio Rancho and Sante Fe. State Farm has the lowest rates in the remaining towns and cities, most of which are rural or tribal communities.
- The cheapest car insurance in New Mexico is in Deming, a small town in the southwest part of the state, where a full coverage policy costs $179 per month.
- South Valley, a suburb of Albuquerque, has the most expensive rates, at $267 per month. In New Mexico, the 10 most expensive cities for car insurance are all in and around Albuquerque. That's likely because accidents and auto theft tend to happen more often in urban areas.
Find Cheap Car Insurance Quotes in New Mexico
Full coverage NM car insurance quotes by city
City | Avg. rate | Cheapest company | Cheapest rate |
|---|---|---|---|
| Albuquerque | $259 | Geico | $216 |
| Las Cruces | $205 | Geico | $164 |
| Rio Rancho | $234 | Geico | $191 |
| Santa Fe | $217 | Geico | $179 |
| Roswell | $216 | Geico | $149 |
| Farmington | $189 | Geico | $147 |
| Hobbs | $223 | Geico | $150 |
| Clovis | $220 | Geico | $161 |
| Carlsbad | $225 | Geico | $149 |
| Alamogordo | $182 | Geico | $140 |
| Gallup | $193 | Geico | $148 |
| Abiquiu | $222 | Geico | $183 |
| Adelino | $236 | Geico | $182 |
| Agua Fria | $218 | Geico | $175 |
| Alamo | $199 | Geico | $149 |
| Alcalde | $220 | State Farm | $178 |
| Algodones | $226 | Geico | $169 |
| Alto | $211 | Geico | $171 |
| Amalia | $221 | Geico | $182 |
| Amistad | $215 | Geico | $154 |
| Angel Fire | $226 | Geico | $182 |
| Animas | $183 | Geico | $140 |
| Anthony | $209 | Geico | $164 |
| Anton Chico | $217 | Geico | $154 |
| Aragon | $190 | State Farm | $147 |
| Arenas Valley | $183 | Geico | $140 |
| Arrey | $190 | State Farm | $147 |
| Arroyo Seco | $224 | Geico | $182 |
| Artesia | $212 | Geico | $149 |
| Atoka | $213 | Geico | $149 |
| Aztec | $193 | Geico | $147 |
| Bard | $208 | Geico | $154 |
| Bayard | $182 | Geico | $140 |
| Belen | $243 | Geico | $193 |
| Bent | $192 | State Farm | $147 |
| Berino | $208 | Geico | $164 |
| Bernalillo | $227 | Geico | $169 |
| Black Rock | $189 | State Farm | $144 |
| Blanco | $189 | Geico | $147 |
| Bloomfield | $193 | Geico | $147 |
| Bluewater Village | $193 | Geico | $148 |
| Bosque | $224 | Geico | $149 |
| Bosque Farms | $236 | Geico | $182 |
| Brimhall | $194 | State Farm | $159 |
| Broadview | $223 | Geico | $161 |
| Buckhorn | $182 | Geico | $140 |
| Buena Vista | $221 | State Farm | $176 |
| Caballo | $186 | State Farm | $146 |
| Canjilon | $228 | Geico | $182 |
| Cannon Air Force Base | $220 | Geico | $161 |
| Canones | $226 | Geico | $183 |
| Capitan | $213 | Geico | $171 |
Best car insurance in New Mexico: State Farm
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Full coverage rate$176/moThis analysis used auto insurance quotes for a policy with collision and comprehensive coverage.
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Claims processGoodClaims rating is based on J.D. Power's claims satisfaction survey.
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AM Best ratingA++An A++ financial strength rating means that a company has a superior ability to pay customer claims, even in difficult financial situations. This is the highest rating available.
The author, Lindsay Bishop, chose the best car insurance companies in New Mexico based on:
- J.D. Power's 2025 U.S. Auto Insurance Study
- J.D. Power's 2025 U.S. Auto Claims Satisfaction Study
- National Association of Insurance Commissioners complaint data
- Each company's average car insurance rates in New Mexico
- Coverage availability and optional add-ons
- The author's 7+ years of insurance industry experience
ValuePenguin's reviews follow strict, independent editorial standards and are never influenced by commissions or partnerships.
Cheap insurance in NM after a speeding ticket: State Farm
State Farm has the cheapest quotes for New Mexico drivers with a recent speeding ticket. Full coverage from State Farm costs around $189 per month after one speeding ticket. That's 29% cheaper than the New Mexico average.
Cheap insurance in New Mexico after a speeding ticket
Company | Monthly rate |
|---|---|
| State Farm | $189 |
| Geico | $218 |
| Allstate | $257 |
| Farm Bureau | $292 |
| USAA* | $110 |
*USAA is only available to current and former military members and their families.
New Mexico drivers could see their rates increase by around 25% after one speeding ticket. That's an average difference of about $53 per month for a full coverage policy.
Cheapest quotes after an accident in New Mexico: State Farm
State Farm has the best rates for New Mexico drivers with an accident on their record, at $176 per month. That's 41% cheaper than the average price a New Mexico driver pays after causing a crash.
State Farm also has great customer service. So you'll have peace of mind knowing you'll be well taken care of if you're in another accident in the future.
Cheapest quotes after an accident in New Mexico
Company | Monthly rate |
|---|---|
| State Farm | $176 |
| Geico | $233 |
| Allstate | $355 |
| Farm Bureau | $359 |
| USAA* | $128 |
*USAA is only available to current and former military members and their families.
Causing an accident in New Mexico raises your car insurance rates by 40%, on average.
However, insurance companies increase rates by different amounts after a crash. State Farm doesn't always increase your rates after an accident. But Allstate raises them by 65% after a single crash. That's why it's so important to shop around if your driving record changes.
But don't rush to get a new policy. Your current company typically won't raise your rates until your policy renews. So you can wait until it's about to expire to switch to a new insurance company.
Cheapest rates for New Mexico teens: Geico
Geico is the best choice for most young drivers in New Mexico.
- Minimum coverage: Geico costs $126 per month for minimum coverage for an 18-year-old driver in New Mexico. That's $92 per month cheaper than the state average, which is $218 per month.
- Full coverage: Geico also has the cheapest full coverage quotes for New Mexico teens, at $274 per month. That's $339 per month less than the New Mexico average of $613.
- Military ties: Young drivers who are enlisted or part of a military family should compare quotes from USAA. Minimum coverage from USAA is less than half the price of a policy from Geico for 18-year-olds.
Best monthly auto insurance rates in New Mexico for teens
Company | Liability only | Full coverage |
|---|---|---|
| Geico | $126 | $274 |
| Farm Bureau | $169 | $427 |
| State Farm | $170 | $509 |
| Allstate | $280 | $682 |
| USAA* | $60 | $192 |
*USAA is only available to current and former military members and their families.
Full coverage car insurance for young drivers in New Mexico is about three times as expensive as coverage for older drivers. That's because teen drivers lack experience behind the wheel, which means they're more prone to accidents.
The best way for young drivers in New Mexico to find cheap insurance is by sharing a policy with their parents. Teens can also qualify for discounts by getting good grades.
Best for teens with a speeding ticket or accident: Geico
Geico has the cheapest car insurance for young New Mexico drivers with a speeding ticket or accident on their record.
- Speeding ticket: An 18-year-old driver with a speeding ticket pays an average of $150 per month for minimum coverage from Geico. That's $111 per month less than the New Mexico average, which is $261 per month.
- Accident: Teens with an at-fault accident pay $164 for coverage from Geico and $170 per month for minimum coverage from State Farm.
Liability-only quotes for teens with a bad record
Company | Ticket | Accident |
|---|---|---|
| Geico | $150 | $164 |
| State Farm | $187 | $170 |
| Farm Bureau | $206 | $278 |
| Allstate | $348 | $494 |
| USAA* | $92 | $104 |
*USAA is only available to current and former military members and their families.
Cheap auto insurance in NM after a DUI: Geico
Geico is the most affordable option for New Mexico drivers with a DUI on their record. Full coverage from Geico costs $245 per month after a DUI. That's $87 per month cheaper than the New Mexico average. It's also $51 per month cheaper than the second-cheapest option, Allstate.
Cheap auto insurance in NM after a DUI
Company | Monthly rate |
|---|---|
| Geico | $245 |
| Allstate | $296 |
| Progressive | $334 |
| State Farm | $385 |
| USAA* | $174 |
*USAA is only available to current and former military members and their families.
Car insurance rates in New Mexico go up by an average of 57% after a DUI. That's around $120 per month more for a full coverage policy.
Insurance companies see a DUI as a sign of risky driving behavior. That makes them believe you're more likely to cause an accident in the future, which will cause your rates to go up.
If you get a DUI in New Mexico, you'll need to install a Breathalyzer in your car before you can get back on the road.
Also known as an ignition interlock device, the Breathalyzer won't allow you to start your car if your breath alcohol concentration is above a set level. New Mexico requires this device even if it's your first DUI.
Best rates for NM drivers with poor credit: Geico
Geico has the cheapest car insurance for New Mexico drivers with bad credit. At $269 per month, full coverage from Geico is 31% cheaper than the state average. It's also $39 per month less than the second-cheapest option, Allstate.
Best rates for NM drivers with poor credit
Company | Monthly rate |
|---|---|
| Geico | $269 |
| Allstate | $308 |
| Farm Bureau | $386 |
| Progressive | $410 |
| USAA* | $154 |
*USAA is only available to current and former military members and their families.
In New Mexico, full coverage rates for drivers with poor credit are 85% higher than rates for drivers with good credit.
Your credit score has nothing to do with your ability to drive safely. But many insurance companies believe drivers with poor credit are more likely to make claims in the future. That makes them more expensive to insure, which is why they pay more for coverage.
Is your car insurance company raising rates in New Mexico in 2026?
A few major car insurance companies have raised their rates in New Mexico in 2026. But just as many companies have lowered their rates across the state.
- ↑ Biggest increase: AAA at +3.7%
- ↓ Biggest decrease: Progressive at -3.8%
Company | 2026 rate change | 5 year rate change |
|---|---|---|
| Progressive | ↓ 3.8% | ↑ 23.6% |
| State Farm | ↓ 2.9% | ↑ 28.1% |
| Farm Bureau | ↓ 1.4% | ↑ 30.2% |
| Allstate | ↓ 0.1% | ↑ 33.8% |
| USAA | 0.0% | ↑ 6.7% |
| Geico | 0.0% | ↑ 9.6% |
| Travelers | 0.0% | ↑ 31.8% |
| Liberty Mutual | 0.0% | ↑ 39.7% |
| American Family | 0.0% | ↑ 61.4% |
| Sentry | ↑ 2.1% | ↑ 29.8% |
| Farmers | ↑ 3.4% | ↑ 42.5% |
| AAA | ↑ 3.7% | ↑ 34.3% |
A downward arrow (↓) indicates a rate decrease, while an upward arrow (↑) indicates a rate increase.
What to do if your car insurance rates went up in New Mexico
If your car insurance bill went up in New Mexico, there are a few things you can do to lower your rates.
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Compare quotes from the cheapest car insurance companies in New Mexico, including Geico, State Farm and Allstate.
The most expensive company for full coverage insurance charges nearly twice as much as the cheapest company in New Mexico. That could amount to a savings of more than $1,700 per year.
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Find a company with lots of discounts you qualify for. Most companies offer discounts for bundling home or renters insurance or insuring multiple cars, which can save you a lot of money.
But some companies also offer more uncommon discounts. For instance, Geico offers a discount for owning your home, even if you insure it with a different company. And State Farm offers a savings program for teen drivers who complete its online safety course and practice with an older driver.
- Before you switch, make sure you're taking advantage of all of the discounts your current company offers. Many companies offer loyalty discounts based on the number of years you've been a customer. Just because you've had a policy with them for a long time doesn't mean these discounts are automatically applied to your policy. So it's worth calling an agent to ensure your policy is up to date.
New Mexico auto insurance requirements
New Mexico requires drivers to have a minimum amount of bodily injury and property damage liability. These limits are often written as 25/50/10.
- Bodily injury liability: $25,000 per person and $50,000 per accident
- Property damage liability: $10,000 per accident
Minimum liability coverage policies are the most affordable. But New Mexico's minimum limits may not be high enough to pay for all of the damage if you cause a serious crash.
The penalty for driving without insurance is a fine of up to $300, up to 90 days of jail time or a combination. If you don't return your license plates and vehicle registration to the New Mexico Motor Vehicle Division (MVD) right after the suspension, that fine can increase to $1,000. Alternatively, the court may penalize you with jail time of up to six months, or a combination of fines and imprisonment.
Potential fines and penalties for driving without insurance in New MexicoDriving without insurance:
- Fine: No more than $300
- Imprisonment: Up to 90 days (instead of or in conjunction with a fine)
- Driving privileges: Registration suspension or license plate confiscation at the scene of an accident
Failure to surrender license plates and registration
- Fine: No more than $1,000
- Imprisonment: Up to six months (instead of or in conjunction with a fine)
- Driving privileges: Registration suspension
What's the best car insurance coverage for NM drivers?
Most drivers should choose full coverage car insurance, including higher liability limits. You'll pay more up front, but it could save you thousands of dollars if you cause an accident.
Full coverage pays to fix your car after a crash, even if you were at fault. That's because it includes collision and comprehensive coverage. Lenders usually require comprehensive and collision coverage if you have a car lease or loan.
A minimum coverage policy is the least expensive way to meet New Mexico's auto insurance requirements. However, these policies may not have enough coverage to pay for damage in a serious accident.
Most New Mexico drivers should consider a full coverage policy. This is especially true if your car is worth more than $5,000 or is newer than 8 years old.
In New Mexico, full coverage car insurance is three times as expensive as minimum coverage. But it's the best way to protect your car against damage.
Common insurance questions in New Mexico
What happens if an uninsured driver hits me in New Mexico?
There are a few scenarios in which your insurance company will cover an accident caused by an uninsured driver. If you have uninsured motorist coverage, insurance will pay your medical and car repair bills if you're hit by an uninsured driver, up to your chosen limits. If your policy includes collision coverage, your insurance company will pay for damage to your car after an accident, regardless of whose fault it is.
Neither of these coverages is required in New Mexico. However, New Mexico has the second-highest percentage of uninsured drivers in the country. So you should consider adding one or both coverages to your policy.
If I hit a cow or livestock on the road in New Mexico, am I responsible for the damage to my car?
Whether you're responsible depends on where the accident happens. New Mexico is an "open-range" state, so livestock can legally roam in many rural areas. If you hit a cow on an unfenced road, the owner usually isn’t responsible. In this case, your insurance company will pay for damage to your car, but only if you have comprehensive coverage.
However, if the accident happens in a fenced or restricted area, the livestock owner may be responsible for damage. In this case, you may be able to file a claim against their property insurance.
Does car insurance cover flood damage in New Mexico?
Your car insurance will pay for flood damage if you have comprehensive coverage. Comprehensive coverage is typically included in a full coverage policy, and it's usually required when you have a car loan or lease.
Can I pause my car insurance in New Mexico if I live there only part-time?
Yes, you can pause or cancel your car insurance if you're storing your vehicle in New Mexico while you're away. But before you cancel, you must send a form to the New Mexico Insurance Identification Database (IIDB) saying you won’t drive the car during that time.
When you return, you must reactivate your insurance or buy a new policy and call the IIDB before driving again.
Methodology
ValuePenguin collected thousands of rates from ZIP codes across New Mexico for the largest insurance companies in the state. Rates are for a 30-year-old man with good credit who drives a 2018 Honda Civic EX.
Quotes for full coverage include higher liability limits than the state requirement, along with collision and comprehensive coverage.
- Bodily injury liability: $50,000 per person and $100,000 per accident
- Property damage liability: $50,000 per accident
- Uninsured and underinsured motorist bodily injury: $50,000 per person and $100,000 per accident
- Comprehensive and collision: $500 deductible
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only. Your own quotes may be different.
To calculate rate changes by company, ValuePenguin used publicly available rate filing data from the New Mexico Office of the Superintendent of Insurance. Rate filing data was sourced using RateWatch from S&P Global, which uses information from the National Association of Insurance Commissioners (NAIC).
The table includes rate filings submitted by major insurance companies and their subsidiaries with effective dates between 2022 and 2026. Because insurance companies often break customers into different rating groups, a filing may apply only to certain drivers, vehicles, coverage levels, regions or policy types. Not every increase or decrease applies to every policyholder insured by that company in the state.
Data limitations
Insurance companies may submit multiple filings throughout the year. Some filings may be revised, withdrawn or superseded after publication.
Rate filing information was current as of July 28, 2026.
About the Author
Senior Writer
Lindsay Bishop is a Senior Writer at ValuePenguin, where she educates readers about home, auto, renters, flood and motorcycle insurance.
Lindsay began her career in the insurance and financial industry in 2010. She was a licensed auto, home, life and health insurance agent and held Series 6 and 63 financial licenses.
After a hiatus from the financial sector, Lindsay returned to the industry as a content writer for ValuePenguin in 2021. She enjoys having the opportunity to help readers make smart decisions about their insurance so they can be prepared for anything life throws their way.
When Lindsay isn't writing about insurance, you can find her spending time with family, enjoying the outdoors on Sunday long runs or riding her Peloton.
How insurance helped Lindsay
As a homeowner for 15 years located in South Carolina, Lindsay has plenty of experience navigating the coastal insurance market and managing the claims process. That includes successfully negotiating a full roof replacement claim.
Expertise
- Home insurance
- Car insurance
- Flood insurance
- Renters insurance
- Motorcycle insurance
Referenced by
- CNBC
- Yahoo Finance
- Miami Herald
Education
- BS/BA Economics, University of Nevada Las Vegas
Editorial note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
