Compare Cheap Car Insurance Quotes in Albuquerque, New Mexico
State Farm has the cheapest car insurance in Albuquerque, at $38 per month for minimum coverage and $98 per month for full coverage.
Find Cheap Auto Insurance Quotes in Albuquerque
Best cheap car insurance companies in Albuquerque
To help you find the best cheap car insurance in Albuquerque, ValuePenguin compared thousands of car insurance quotes from the top companies in New Mexico. We rated the cheapest companies based on factors like cost, coverage and customer service.
Cheapest car insurance in Albuquerque: State Farm
State Farm has the cheapest full-coverage insurance in Albuquerque at $98 per month. It's 41% less than the typical price in Albuquerque overall.
Another affordable option is USAA, at $89 per month. However, you're only eligible for a policy from USAA if you've served in the military or you have a family member who's had insurance from USAA at some point in their lives.
Find Cheap Auto Insurance Quotes in Albuquerque
Cheapest Albuquerque full-coverage quote
Company | Monthly rate | |
|---|---|---|
| State Farm | $98 |
| Geico | $153 |
| Allstate | $166 |
| Farm Bureau | $205 |
| Progressive | $217 |
*USAA is only available to current and former military members and their families.
Cheapest liability insurance quotes in Albuquerque: State Farm
State Farm is the cheapest insurance option for liability-only coverage in Albuquerque, at $38 per month. ABQ drivers can save $120 per year by getting a minimum coverage policy from State Farm, compared to the city average.
If you're eligible, USAA offers an even better deal: drivers can pay $26 per month for minimum coverage. However, USAA only sells policies to members of the military, veterans and some of their family members.
Find Cheap Auto Insurance Quotes in Albuquerque
Cheapest minimum coverage car insurance companies in Albuquerque
Company | Monthly rate | |
|---|---|---|
|
| State Farm | $38 |
|
| Farm Bureau | $46 |
|
| Geico | $54 |
|
| Allstate | $67 |
|
| Progressive | $82 |
*USAA is only available to current and former military members and their families.
Best car insurance for young Albuquerque drivers: State Farm
State Farm had the cheapest rates for teen drivers, charging $281 per month for full coverage.
State Farm also had the cheapest widely available option for basic coverage, at $131 per month. That's 35% less than the city average of $200 a month.
Cheapest car insurance for young drivers
Company | Liability only | Full coverage |
|---|---|---|
| State Farm | $131 | $281 |
| Farm Bureau | $154 | $343 |
| Allstate | $195 | $530 |
| Geico | $221 | $532 |
| Progressive | $220 | $715 |
Teen drivers in Albuquerque pay 202% more per year on average for auto insurance than their adult counterparts. Staying on a parent's policy is the best way for teens to avoid these steep prices.
Cheapest car insurance after a speeding ticket: State Farm
State Farm has the most affordable prices for drivers with speeding tickets in Albuquerque, at $106 per month. It only raised rates by about 8%, while other companies raised rates by 23%, on average.
Cheapest car insurance after a speeding ticket
Company | Monthly rate |
|---|---|
| State Farm | $106 |
| Allstate | $186 |
| Geico | $192 |
| Farm Bureau | $226 |
| Progressive | $283 |
Insurance companies have found that people with recent speeding tickets on their records tend to file additional claims later on, so your insurance bill will likely increase if you've gotten a ticket this year.
Cheapest insurance in Albuquerque for drivers with accident histories: State Farm
State Farm is the cheapest option for Albuquerque drivers seeking cheap full coverage after an accident. At an average of $106 per month, it's 57% cheaper than the city average.
Cheapest car insurance for drivers after an accident
Company | Monthly rate |
|---|---|
| State Farm | $106 |
| Allstate | $255 |
| Farm Bureau | $268 |
| Geico | $299 |
| Farmers | $325 |
Average annual rates in Albuquerque go up by 47% after an at-fault accident, to $245 per month. State Farm offers much cheaper policies, however. Annual premiums in Albuquerque average $1,822 per year.
Depending on your insurance company, you may see a significant jump in premium costs after an accident. That's because drivers who have been at fault in one crash are more likely to make another claim in the future.
Cheapest car insurance after a DUI: State Farm
State Farm has the best rates for Albuquerque drivers who have been caught driving under the influence. State Farm charges just $106 per month after a DUI, making them 64% cheaper than the city average of $3,747.
Rates went up by 75% after a DUI, as opposed to 47% after an at-fault accident and 23% after a speeding ticket. And some insurance companies may simply decline to offer you coverage at all after a DUI.
Cheapest car insurance after a DUI in Albuquerque
Company | Monthly rate |
|---|---|
| State Farm | $106 |
| Allstate | $230 |
| Progressive | $268 |
| Farmers | $312 |
| Farm Bureau | $337 |
Cheapest car insurance for drivers with poor credit: State Farm
State Farm has the best rates for drivers with bad credit in Albuquerque. Its average rate of $197 per month is 21% less than the average citywide.
Your credit score influences your auto insurance rates: a driver with a worse credit score will pay more for insurance. In Albuquerque, drivers with poor credit pay an average of $249 per month — 50% more than what drivers with good credit pay.
Cheapest auto insurance for drivers with poor credit
Company | Monthly rate |
|---|---|
| State Farm | $197 |
| Geico | $213 |
| Allstate | $217 |
| Farm Bureau | $287 |
| Progressive | $309 |
While your credit score isn't connected to your driving ability, insurance companies have found that someone with a lower credit score is more likely to make an insurance claim. As such, having worse credit means you'll pay more for car insurance.
Best insurance company for customer service in Albuquerque, New Mexico
Farm Bureau, USAA and State Farm are the best car insurance companies in Albuquerque.
These companies were ranked highly by ValuePenguin editors, due to their strong service during claims. They also received relatively few complaints from customers, suggesting people tend to be satisfied with their service.
Company |
Editor's rating
|
|---|---|
| Farm Bureau | |
| State Farm | |
| USAA | |
| Geico | |
| Farmers | |
| Allstate | |
| Progressive | |
Average cost of insurance by Albuquerque area
Sandia Heights residents pay the least for car insurance in Albuquerque — the average price there is $159 per month for full coverage.
Meanwhile, Los Volcanes is the most expensive neighborhood for car insurance. There, the average price is $180 per month — 13% more than in Sandia Heights.
Where you live impacts what you'll pay for car insurance. An area with poorly maintained roads or high crime will likely have higher insurance car insurance rates than one without.
ZIP code | Average monthly cost | Percentage from average |
|---|---|---|
| 87101 | $161 | -3% |
| 87102 | $175 | 5% |
| 87104 | $166 | 0% |
| 87105 | $178 | 7% |
| 87106 | $165 | -1% |
What's the best car insurance coverage in Albuquerque, NM
The cheapest auto insurance policy a driver can get is a minimum-liability policy, which provides the lowest amount of coverage a state requires drivers to hold in order to legally operate a vehicle.
Although a liability-only policy is the cheapest coverage option, it's not the best option for most people. For example, drivers insured with a liability-only policy are not financially protected from damage caused by storms or theft. You'll also likely need full coverage if your car is financed with a lease or loan.
Albuquerque residents who own new vehicles or cars worth more than $5,000 should invest in higher coverage limits and additional protection options.
A full coverage auto insurance policy means that you pay for collision and comprehensive coverages in addition to the state-mandated minimum liability coverages.
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Comprehensive coverage: covers off-road damages such as vandalism, theft or weather-related incidents.
- Collision coverage: covers repairs needed after a collision, regardless of who is at fault in the accident.
Methodology
To find the best cheap car insurance in Albuquerque, ValuePenguin collected quotes from seven top insurance companies in New Mexico. Rates are for a 30-year-old single man with good credit and no accident history who drives a 2015 Honda Civic EX.
Full-coverage policies include comprehensive and collision coverage, plus higher liability limits than the state requirement.
Coverage | Full coverage limit |
|---|---|
| Bodily injury liability | $50,000 per person/$100,000 per accident |
| Property damage liability | $25,000 per accident |
| Personal injury protection | $10,000 |
| Uninsured/underinsured motorist bodily injury | $50,000 per person/$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.