Cheapest Car Insurance Quotes in New Mexico (2025)
State Farm has the best cheap car insurance in New Mexico, at $122 per month for full coverage.
Find Cheap Auto Insurance Quotes in New Mexico
Best cheap car insurance companies in New Mexico
How we chose the top companies
Best and cheapest car insurance in New Mexico
- Cheapest full coverage: State Farm, $122/mo
- Cheapest minimum liability: State Farm, $36/mo
- Cheapest for young drivers: State Farm, $124/mo
- Cheapest after a ticket: State Farm, $130/mo
- Cheapest after an accident: State Farm, $139/mo
- Cheapest for teens after a ticket: State Farm, $64/mo State Farm, $137/mo
- Cheapest after a DUI: Progressive, $187/mo
- Cheapest for poor credit: Progressive, $245/mo
Monthly rates based on full coverage car insurance for a 30-year-old man. Some rates use different ages or coverage limits.
State Farm has the best mix of reliable customer service and affordable rates in New Mexico. While Progressive is typically cheaper than average, it doesn't have great customer service. That means State Farm is more likely to get you back on the road fast after an accident.
Cheapest car insurance in New Mexico: State Farm
State Farm has the cheapest quotes for full coverage in New Mexico.
A full coverage policy from State Farm costs just $122 per month. That's $48 per month cheaper than the New Mexico average.
The average cost of car insurance in New Mexico is $170 per month for full coverage.
Find Cheap Auto Insurance Quotes in New Mexico
New Mexico drivers with military ties can find even cheaper rates at USAA. Full coverage insurance from USAA costs $80 per month, which is less than half the average price of car insurance in New Mexico.
However, only military members, veterans and some of their family members can get insurance from USAA.
Cheap full coverage auto insurance in NM
Company | Monthly rate | |
|---|---|---|
| State Farm | $122 |
| Geico | $155 |
| Progressive | $155 |
| Farm Bureau | $203 |
| Allstate | $215 |
*USAA is only available to current and former military members and their families.
Cheapest liability insurance quotes in New Mexico: State Farm
State Farm is the cheapest company in New Mexico for minimum liability car insurance.
A minimum coverage policy from State Farm costs $36 per month, on average. That's 38% less than the state average, which is $57 per month.
The absolute cheapest rate is from USAA, at $20 per month. However, 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 | $36 |
| Farm Bureau | $40 |
| Progressive | $52 |
| Geico | $76 |
| Farmers | $77 |
*USAA is only available to current and former military members and their families.
Find Cheap Auto Insurance Quotes in New Mexico
Cheapest quotes for New Mexico teens: State Farm and Geico
State Farm has the best rates for young drivers in New Mexico.
Minimum coverage from State Farm costs $124 per month for an 18-year-old driver in New Mexico. That's $21 per month cheaper than the state average, which is $179 per month.
Geico has the cheapest full coverage quotes for New Mexico teens. At $253 per month, full coverage from Geico is 30% less than the New Mexico average.
Young drivers who are enlisted or part of a military family should compare quotes from USAA. Coverage from USAA costs less than half the price of a policy from State Farm.
Best auto insurance in New Mexico for teens
Company | Liability only | Full coverage |
|---|---|---|
| State Farm | $124 | $341 |
| Geico | $126 | $253 |
| Farm Bureau | $129 | $325 |
| Progressive | $167 | $597 |
| Allstate | $305 | $682 |
*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.
Cheap insurance in NM after a speeding ticket: State Farm
State Farm has the best quotes in New Mexico for drivers with a speeding ticket. Full coverage from State Farm costs around $130 per month after one speeding ticket. That's 38% cheaper than the New Mexico average.
Company | Monthly rate |
|---|---|
| State Farm | $130 |
| Geico | $201 |
| Farm Bureau | $228 |
| Progressive | $229 |
| Allstate | $240 |
*USAA is only available to current and former military members and their families.
New Mexico drivers can expect their rates to increase by around 24% after one speeding ticket. That's a difference of around $42 per month for a full coverage policy.
Cheapest quotes after an accident in New Mexico: State Farm
State Farm has the cheapest car insurance for New Mexico drivers with an accident on their records, at $139 per month. That's 42% less than the average price a New Mexico driver pays after causing a crash.
Company | Monthly rate |
|---|---|
| State Farm | $139 |
| Geico | $214 |
| Progressive | $229 |
| Farm Bureau | $277 |
| Allstate | $355 |
*USAA is only available to current and former military members and their families.
Causing an accident in New Mexico will raise your car insurance rates by 42%, on average.
However, insurance companies increase rates by different amounts after a crash. State Farm only raises full coverage rates by 14% after an at-fault 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 buy a new policy. Your current company typically won't raise your rates until your policy renews. So you should wait until it's about to expire before switching.
Best for teens with a speeding ticket or accident: State Farm
State Farm has the cheapest quotes for young New Mexico drivers with a speeding ticket or accident on their records.
An 18-year-old driver with a speeding ticket pays an average of $137 per month for minimum coverage from State Farm. That's $76 per month less than the New Mexico average, which is $213 per month.
Teens with an at-fault accident pay $150 per month for minimum coverage from State Farm, which is $101 per month cheaper than the state average, overall.
Cheapest quotes in NM for teens with a speeding ticket or accident
Company | Ticket | Accident |
|---|---|---|
| State Farm | $137 | $150 |
| Geico | $150 | $164 |
| Farm Bureau | $157 | $213 |
| Progressive | $190 | $173 |
| Allstate | $350 | $541 |
*USAA is only available to current and former military members and their families.
Cheap auto insurance in NM after a DUI: Progressive
Progressive has the cheapest quotes for New Mexico drivers with a DUI on their records. Full coverage from Progressive costs $187 per month after a DUI. That's $74 per month cheaper than the New Mexico average. It's also $39 per month cheaper than the second-best option, Geico.
Company | Monthly rate |
|---|---|
| Progressive | $187 |
| Geico | $226 |
| State Farm | $262 |
| Allstate | $296 |
| Farmers | $343 |
*USAA is only available to current and former military members and their families.
New Mexico drivers can expect their car insurance rates to go up by around 54% after a DUI. That's an average of $92 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.
Cheapest quotes for NM drivers with poor credit: Progressive
Progressive has the most affordable car insurance in New Mexico for drivers with bad credit. At $245 per month, full coverage from Progressive is 20% cheaper than the state average.
Company | Monthly rate |
|---|---|
| Progressive | $245 |
| Geico | $246 |
| Farm Bureau | $296 |
| Allstate | $308 |
| Farmers | $428 |
*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 79% higher than rates for drivers with good credit.
Your credit score has nothing to do with your ability to drive safely. But insurance companies believe that 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.
Best car insurance in New Mexico
USAA is the best car insurance company in New Mexico when it comes to customer satisfaction, cost and coverage options.
It regularly earns the highest score on J.D. Power's claims satisfaction survey. That means customers are typically happy with their experience with USAA after an accident. However, USAA is only available to people in the military, veterans and certain family members.
State Farm is the best company for drivers who can't get insurance from USAA. It has reliable customer service and very affordable rates for most New Mexico drivers.
Best insurance companies in New Mexico
Company |
Editor's rating
|
J.D. Power
|
AM Best
|
|---|---|---|---|
| USAA | 739 | A++ | |
| State Farm | 657 | A++ | |
| Farm Bureau | 673 | A | |
| Geico | 637 | A++ | |
| Farmers | 619 | A |
Average car insurance cost in New Mexico by city
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 $141 per month.
South Valley, a suburb of Albuquerque, has the most expensive rate, at $210 per month.
Full coverage NM car insurance quotes by city
City | Monthly rate | % from average |
|---|---|---|
| Abiquiu | $175 | 5% |
| Adelino | $187 | 12% |
| Agua Fría | $172 | 3% |
| Alamo | $157 | -6% |
| Alamogordo | $145 | -14% |
Where you live within New Mexico can impact your auto insurance rates by up to $68 per month.
Car insurance is typically more expensive if you live in a city rather than a rural area. In New Mexico, the 10 most expensive cities for car insurance are all in and around Albuquerque. That's because accidents and auto theft happen more often in urban areas.
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.
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.
In addition, minimum coverage won't pay for any damage to your car. 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 eight 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.
Frequently asked questions
Who has the cheapest car insurance in New Mexico?
State Farm has the cheapest car insurance quotes in New Mexico. Full coverage from State Farm costs $122 per month, and minimum coverage costs $36 per month.
How much is car insurance in New Mexico?
Full coverage car insurance costs $170 per month in New Mexico, on average. Minimum coverage costs an average of $57 per month.
What is the minimum car insurance coverage in New Mexico?
Drivers in New Mexico are required to buy a car insurance policy with a minimum of $25,000 of bodily injury liability per person and $50,000 per accident, along with $10,000 of property damage liability per accident.
How much is car insurance in Las Cruces, NM?
Full coverage car insurance in Las Cruces costs $161 per month, on average. That's 3% cheaper than the New Mexico state average. In comparison, drivers in Albuquerque pay $204 per month for the same coverage.
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 2015 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: $25,000 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.
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.