Compare Cheap Car Insurance Quotes in Albuquerque, New Mexico

Find Cheap Auto Insurance Quotes in Your Area

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The average cost of car insurance for a minimum coverage policy in Albuquerque is $929 per year, or $77 per month.

To help Albuquerque drivers find the cheapest auto insurance rates, ValuePenguin researched and compared quotes from the largest insurers in New Mexico. For drivers seeking cheap car insurance in Albuquerque, we recommend State Farm, Farm Bureau and Progressive.

Who has the cheapest car insurance in Albuquerque, New Mexico?

The cheapest minimum coverage car insurance rates in Albuquerque, New Mexico, are offered by:

  • State Farm
  • Farm Bureau
  • Progressive

These three insurers offered average auto insurance quotes of $749 per year, or 19% cheaper than the Albuquerque mean.

In this graph, we show the companies that had the cheapest car insurance rates in Albuquerque, New Mexico
In this graph, we show the companies that had the cheapest car insurance rates in Albuquerque

Find Cheap Auto Insurance Quotes in Your Area

Currently insured?
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One of the best ways to find cheap auto insurance is to compare quotes from at least a few insurers. Drivers in Albuquerque could benefit from comparison shopping, as the most expensive insurer in our study, Farmers, cost nearly $1,100 more per year than the most affordable carrier, State Farm.

Enter your ZIP code above to begin comparing car insurance.

Albuquerque minimum coverage car insurance quotes by insurer

RankInsurerAnnual car insurance quote
1State Farm$670
2Farm Bureau$763
3Progressive$814
4Allstate$909
5GEICO$1,249
6Farmers$1,764
NA*USAA$336
*USAA offered the cheapest rates overall; however, USAA policies are only available to current service members and their families.

Minimum coverage just meets New Mexico's minimum state legal requirements and doesn't include comprehensive and collision insurance, which covers damage to a driver's vehicle, regardless of fault.

Minimum coverage is more affordable than full coverage, but a lack of comprehensive and collision coverage and lower liability coverage limits on your policy risks insufficient protection following an accident.

The average cost of car insurance in Albuquerque, New Mexico, by neighborhood

The average cost of car insurance in Albuquerque is $929 per year, or $77 per month. But in cities like Albuquerque, rates can vary substantially depending on your neighborhood.

The ZIP code with the cheapest car insurance in Albuquerque was 87131, near the University of New Mexico, with an annual rate of $890. For comparison, the most expensive quotes were in 87121, in the western part of the city, at $976 per year. The difference between the cheapest and most expensive neighborhoods was $86 per year.

Below we list annual car insurance quotes in Albuquerque, NM, by ZIP code.

ZIP codeAnnual auto insurance quote
87101$923
87102$960
87104$916
87105$973
87106$909
87107$914
87108$950
87109$929
87110$935
87111$927
87112$943
87113$905
87114$905
87116$943
87120$910
87121$976
87122$922
87123$939
87131$890

Best auto insurance companies in Albuquerque, New Mexico

The best car insurance companies in Albuquerque, according to a measure of customer satisfaction known as the complaint index, are:

  • Farmers
  • State Farm
  • Farm Bureau

These insurers had the fewest complaints filed relative to their market share of premiums underwritten. State Farm distinguished itself as the cheapest insurer in Albuquerque and among the best for service quality.

The list below ranks New Mexico insurance companies from the best to worst based on their complaint index.

RankBest insurersComplaint index
1Farmers0.30
2State Farm0.57
3Farm Bureau0.66
4Allstate0.68
5USAA0.84
6Progressive0.91
7GEICO0.92

GEICO , Progressive and USAA received the most complaints relative to expectations, suggesting less customer satisfaction. Importantly, the insurers that provide the cheapest quotes in Albuquerque may not always be the best for service quality.

To identify the best-rated insurers, we used complaint data from the National Association of Insurance Commissioners (NAIC).

Minimum car insurance requirements in Albuquerque, New Mexico

Drivers in Albuquerque need to adhere to New Mexico's minimum car insurance coverage requirements.

Specifically, New Mexico requires both bodily injury and property damage liability coverage, for all drivers, with the following limits:

TypeNew Mexico minimum requirements
Bodily injury liability$25,000 per person and $50,000 per accident
Property damage liability$10,000 per accident

New Mexico also requires insurers to include uninsured and uninsured motorist coverage in policy offers. However, these coverages can be rejected if you don't want them. Still, we recommend drivers consider buying this coverage, as it is not particularly costly and can protect you against a prevalent risk.

While your car insurance plan may meet New Mexico's minimum coverage requirements, it may not be the best policy for you. We recommend all Albuquerque drivers consider buying higher coverage limits to ensure they are fully covered for damages in a costly accident.

Methodology

We collected sample minimum coverage quotes from seven insurance companies in Albuquerque, New Mexico. Our sample driver was a 30-year-old male that drove a 2015 Honda Civic EX.

We kept all variables for acquiring car insurance coverage constant: single, a fair credit score and a clean driving record. The only parameter that varied was ZIP code.

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.

Michael Hoffmann is a Senior Research Analyst focused on insurance. He was previously a Technology Editor at The Economist Intelligence Unit and has had prior roles as an ETF and Equity Analyst focused on emerging technologies like artificial intelligence, cybersecurity and cloud computing.

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.