Who Has The Cheapest Motorcycle Insurance Quotes In New Mexico?

New Mexico is one of the Mountain States of the U.S. and is the 5th most extensive with over 121,000 square miles of scenic landscape for motorcycle riding. To help motorcycle riders find the best insurance rates, our team gathered quotes from three major carriers for a sample 45-year-old male rider's policy with $50,000 in property damage coverage. Our study showed the most expensive place for the sample policy was 2x the cost of the cheapest insurer in New Mexico. 

Cheapest Motorcycle Insurance In New Mexico

Our analysis of 100 quotes in New Mexico revealed that GEICO had the lowest motorcycle insurance premiums for our sample policy and rider. Out of the three major companies with available data, GEICO's rates were considerably lower than those of the other two companies. We consider GEICO to be among the best motorcycle insurance companies in the country.

ValuePenguin found GEICO had the best motorcycle insurance rates in New Mexico for our sample policy and rider.

*The Average Annual Rate is rounded to the nearest whole dollar amount.

Dairyland's motorcycle insurance rates, like GEICO's, were also below average cost of motorcycle insurance in New Mexico. Progressive had the least affordable motorcycle insurance of the three carriers. With an average quote of $863 for our sample policy and rider, Progressive's premiums were slightly more than 2x the cost of GEICO's.

Best Motorcycle Insurance Rates In New Mexico: By City

The five places in New Mexico with the best motorcycle insurance premiums were scattered around the state and included cities of various sizes. The place with the most affordable rates was Taos, where premiums were 11.1% lower than the state average.

RankCityAverage Annual Rate% Difference vs State Average
1 Taos $531 -11.1%
2 Ruidoso 539 -9.7%
3 Los Alamos 553 -7.4%
4 Santa Fe 553 -7.4%
5 Artesia 563 -5.7%

*The Average Annual Rate is rounded to the nearest whole dollar amount.

Taos, NM

Taos ranked with the lowest motorcycle insurance rates in our New Mexico study. It is located in the north-central region of New Mexico, in the Sangre de Cristo Mountains. Its popularity comes from Taos Pueblo, considered to be one of the oldest continuously inhabited communities in the U.S. The city has approximately 5,000 residents and those that like to ride motorcycle enjoy the most affordable rates in the state. Quotes for our sample policy were 11.1% lower than the New Mexico average.

Ruidoso, NM

Located close to the center of the state, Ruidoso is a village and the economic hub of Lincoln County. It is adjacent to the Lincoln National Forest and built its name as a resort town. The community has nearly 8,000 residents and continues to grow and attract others with its alpine scenery, race tracks, and ski resorts. Motorcycle insurance rates in Ruidoso were 9.7% lower than the state average.

Los Alamos, NM

Los Alamos is a townsite and census-designated place in Los Alamos County. It is built on the Pajarito Plateau’s four mesas and the adjoining White Rock Canyon. It is the fifth fastest growing city in New Mexico, with 12,000 residents and the highest concentration of millionaires of any city in the U.S. Los Alamos placed as the third cheapest place for our sample rider to insure his motorcycle in the state; rates were 7.4% lower than the state average.

Santa Fe, NM

Santa Fe is the capital of New Mexico and the fourth largest city in the state, with a little less than 70,000 residents. Santa Fe is well known as a center for arts and that is reflected in its multicultural character. It has been designated as a UNESCO Creative City in Design, Crafts and Folk Art. Quotes for our sample motorcycle insurance policy were 7.4% lower than the state average.

Artesia, NM

Artesia is in southeast New Mexico. It sits at the intersection of U.S. Route 82 and U.S. Route 285. The two highways serve as the city’s Main Street and First Street, respectively. The city is home to 12,000 residents, as well as affordable motorcycle insurance rates. Rates for our sample policy and rider living in Artesia rounded out the top five cheap motorcycle insurance spots in NM, at 5.7% lower than the New Mexico average.

Most Expensive Motorcycle Insurance In New Mexico

The five places with the most expensive motorcycle insurance in New Mexico included most of the state’s largest cities, including the capital, Albuquerque. The place with the most expensive motorcycle insurance rates was Los Luna, where premiums quoted were 22.1% higher than the state average. 

RankCityAverage Annual Rate% Difference vs State Average
1 Los Lunas $729 22.1%
2 Albuquerque 717 20.1%
3 Belen 683 14.4%
4 Bernalillo 662 10.9%
5 Silver City 637 6.7%

*The Average Annual Rate is rounded to the nearest whole dollar amount.

Los Lunas, NM

Near the center of New Mexico is a village that used to be the U.S. Army Air Force’s bombing range – Los Lunas. Today, it is more popular for being a Valencia County village that offers a variety of events for tourists, including its annual highlight being the St. Patrick’s Day Balloon Rally. It has more than 15,000 residents and riders there pay 22.1% more for motorcycle insurance compared to living elsewhere in the state.

Albuquerque, NM

Albuquerque is the most populous city in New Mexico, with more than 550,000 residents. The high-altitude city is at the center of the state and straddles the Rio Grande. Albuquerque is the official host of the world’s largest gathering of hot air balloons through its annual International Balloon Fiesta. Motorcycle insurance rates there were 20.1% higher than the state average.

Belen, NM

Belen is situated near central New Mexico. It is nicknamed “The Hub City” for its significance to the state’s transportation. The interstate, railways and the Valencia County airport are all located there. The heart of Belen, however, is its central business district and historic downtown. Over 7,000 people live in Belen. Belen took the spot of third highest motorcycle insurance rates in New Mexico, with rates that were 14.4% higher than the state average.

Bernalillo, NM

Bernalillo, the seat of Sandoval County, is a city rich in culture and tradition. It’s known throughout the region for its yearly Las Fiestas de San Lorenzo, attended by many of the city’s 8,000 locals and visitors. The popular festival that has become a crucial component of the city’s identity. Quotes for our sample motorcycle insurance policy in Bernalillo were 10.9% higher compared to the state average. 

Silver City, NM

Silver City is in northwestern New Mexico and has close to 11,000 residents. Once a mining town, Silver City is now famous for its thriving downtown arts district. It has been named the #1 Arts Council in the state and received the New Mexico Governor’s Award for Excellence in the Arts. Motorcycle rates in Silver City were 6.7% higher than the state average.

Average Motorcycle Insurance Rates In New Mexico: By City

This comparative study of motorcycle insurance premiums in New Mexico was done by gathering and analyzing quotes from three major carriers across 33 cities. Our analysis showed premiums quoted for the most expensive was more than 37.3% the cost of the cheapest.

ValuePenguin found the average cost of motorcycle insurance in New Mexico was $596 for a sample policy and rider.

*The Average Annual Rate is rounded to the nearest whole dollar amount.

Study Methodology

Our study analyzed motorcycle insurance quotes for a sample policy and rider across 33 municipalities and census-designated places in the state of New Mexico. The quotes we gathered were from three major carriers: Progressive, GEICO and Dairyland. The rider we gathered quotes from was a 45-year-old male who was married and had completed a motorcycle training course. He also had a clean driving record. The policy itself included bodily injury protection $100,000 per person/$300,000 per accident and $50,000 in property damage coverage. The deductibles for both Comprehensive and Collision coverage were $500.

The motorcycle used when gather quotes was a Harley Davidson Street Glide (1690cc) with no anti-theft device installed.

RankCityAverage Annual Rate% Difference vs State Average
22 Alamogordo $594 -0.5%
32 Albuquerque 717 20.1%
25 Anthony 633 6.0%
5 Artesia 563 -5.7%
31 Belen 683 14.4%
30 Bernalillo 662 10.9%
6 Bloomfield 563 -5.7%
15 Carlsbad 587 -1.7%
13 Cloudcroft 570 -4.5%
16 Clovis 587 -1.7%
17 Deming 587 -1.7%
23 Espanola 608 1.8%
7 Farmington 563 -5.7%
18 Gallup 587 -1.7%
19 Grants 587 -1.7%
20 Hobbs 587 -1.7%
26 Las Cruces 633 6.0%
8 Las Vegas 563 -5.7%
3 Los Alamos 553 -7.4%
33 Los Lunas 729 22.1%
9 Lovington 563 -5.7%
14 Moriarty 570 -4.5%
New Mexico Average 597 0.0%
10 Portales 563 -5.7%
24 Rio Rancho 615 3.0%
11 Roswell 563 -5.7%
2 Ruidoso 539 -9.7%
4 Santa Fe 553 -7.4%
28 Silver City 637 6.7%
29 Socorro 637 6.7%
27 Sunland Park 633 6.0%
1 Taos 531 -11.1%
12 Truth Or Consequences 563 -5.7%
21 Tucumcari 587 -1.7%

*The Average Annual Rate is rounded to the nearest whole dollar amount.

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