New Mexico Car Insurance

Find the Best Car Insurance Quotes & Options in New Mexico

The current average yearly cost of car insurance in New Mexico is $1,237. This is a bit lower than the current national average cost of car insurance, which is $1,311 annually. So drivers in New Mexico can save a bit of money on their premiums in comparison to most of the nation. New Mexico drivers may want to build a car insurance policy that embodies more than just the state's minimum coverage requirements to be safe.

A New Mexico independent insurance agent can help you assemble the right car insurance policy. They'll make sure you get equipped with all the coverage you need at the best possible price. Up first, though, here's a deep dive into New Mexico car insurance.

Best Car Insurance Companies in New Mexico

Looking for car insurance can be exhausting if you're not sure where to start. It's extremely helpful to have a list of some of the top-rated car insurance carriers in your area, which is why we've put together this list of the best New Mexico car insurance companies for you. We've also broken it down by category and type, including the best New Mexico car insurance companies for minimum liability coverage, full coverage, young drivers, drivers with accident histories, and the best overall. Look through some of our top recommendations for car insurance companies in New Mexico below.

• Best New Mexico Car Insurance Company Overall: USAA 
• Best New Mexico Car Insurance Company for Minimum Liability: USAA
• Best New Mexico Car Insurance Company for Full Coverage: USAA
• Best New Mexico Car Insurance Company for Young Drivers: Nationwide
• Best New Mexico Car Insurance Company for Accident History: Nationwide

A New Mexico independent insurance agent can help you choose the right car insurance company.

Best New Mexico Car Insurance Company Overall: USAA

Our first choice for the best New Mexico car insurance company overall goes to USAA. USAA has a reputation for providing quality coverage and affordable rates. In New Mexico, USAA makes "full coverage" auto insurance easy to get for a great price. A "full coverage" auto policy from USAA averages about $109 per month in New Mexico.

Originally founded in 1922, USAA has more than a century’s worth of experience in the industry. Created by a group of Army officers who wanted to insure each other’s vehicles, USAA has since serviced millions of customers across the country through a multitude of coverage solutions.

Recently, USAA’s net worth surpassed $35 billion. The carrier now has more than 13 million policyholders. They've also paid out $2.4 billion in returns to customers over the years. USAA is repeatedly rated highly by major agencies like Moody’s Investors Service and Standard & Poor. AM Best rates USAA an "A++," the highest available, for financial strength.

Best New Mexico Car Insurance Company for Minimum Liability: USAA

Our first choice for the best New Mexico car insurance company for minimum liability coverage only is USAA. Obtaining just the state's minimum required car insurance is easy, thanks to USAA. A minimum liability-only policy from USAA averages about $22 per month in New Mexico.

Originally founded in 1922, USAA has more than a century’s worth of experience in the industry. Created by a group of Army officers who wanted to insure each other’s vehicles, USAA has since serviced millions of customers across the country through a multitude of coverage solutions.

Recently, USAA’s net worth surpassed $35 billion. The carrier now has more than 13 million policyholders. They've also paid out $2.4 billion in returns to customers over the years. USAA is repeatedly rated highly by major agencies like Moody’s Investors Service and Standard & Poor. AM Best rates USAA an "A++," the highest available, for financial strength.

Best New Mexico Car Insurance Company for Full Coverage: USAA

Our first choice for the best New Mexico car insurance company for full coverage goes to USAA. A "full coverage" auto policy is not an industry-standard term but often refers to auto insurance that includes liability coverage as well as collision coverage, personal injury protection, comprehensive coverage, and more. A full coverage policy from USAA averages about $1,307 annually in New Mexico.

Originally founded in 1922, USAA has more than a century’s worth of experience in the industry. Created by a group of Army officers who wanted to insure each other’s vehicles, USAA has since serviced millions of customers across the country through a multitude of coverage solutions.

Recently, USAA’s net worth surpassed $35 billion. The carrier now has more than 13 million policyholders. They've also paid out $2.4 billion in returns to customers over the years. USAA is repeatedly rated highly by major agencies like Moody’s Investors Service and Standard & Poor. AM Best rates USAA an "A++," the highest available, for financial strength.

Best New Mexico Car Insurance Company for Young Drivers: Nationwide

Our first choice for the best New Mexico car insurance company for teens and young drivers is Nationwide. Nationwide makes coverage for families with teens and other young drivers affordable. A car insurance policy for young drivers averages about $1,916 per year for male teens and $1,768 for female teens through Nationwide in New Mexico.

Originally founded in 1925, Nationwide has been in business for almost a century. The insurance carrier has expanded from a small car insurance carrier to one of the largest insurance and financial services companies across the world. 

AM Best rates Nationwide in the $2 billion or greater financial size category. The company also awards Nationwide an "A+" or superior rating overall for financial strength. Nationwide has earned a score of 829 out of 1,000 points on J.D. Power's Customer Satisfaction Survey recently.

Best New Mexico Car Insurance Company for Accident History: Nationwide

Our first choice for the best New Mexico car insurance company for drivers with accident history is Nationwide. Even one accident on your record can cause car insurance rates to skyrocket. However, Nationwide helps keep coverage affordable, with policies averaging about $1,303 per year in New Mexico for drivers after an incident.

Originally founded in 1925, Nationwide has been in business for almost a century. The insurance carrier has expanded from a small car insurance carrier to one of the largest insurance and financial services companies across the world. 

AM Best rates Nationwide in the $2 billion or greater financial size category. The company also awards Nationwide an "A+" or superior rating overall for financial strength. Nationwide has earned a score of 829 out of 1,000 points on J.D. Power's Customer Satisfaction Survey recently.

New Mexico Car Insurance Requirements

New Mexico drivers must carry the state's mandated coverages in terms of car insurance. All states set minimum requirements for the type and amount of car insurance all resident drivers must carry before they can legally hit the road. If you live and drive in New Mexico, you'll need to be equipped with at least:

• Bodily injury liability: In New Mexico, this coverage is required in the amounts of $25,000 per person and $50,000 per accident. Coverage pays the costs of medical treatment to another driver and their passengers after an accident you're at fault for.
• Property damage liability: In New Mexico, this coverage is required in the amount of $10,000 per accident. Coverage pays the costs of repairs to a third party's personal property, like a vehicle, fences, etc., if you damage it with your car.

Optional Car Coverage in New Mexico

• Personal injury protection: Coverage pays for your own medical expenses after an accident you're at fault for.
• Roadside assistance: Coverage pays for towing services if you break down on the side of the road.
• Comprehensive: Coverage pays for expenses after incidents of threats other than collision, including incidents with large animals, windshield breaks, and more. 
• Collision: Pays for damage to your car from a collision with another driver, regardless of fault.
• Rental car reimbursement: Coverage pays for a rental car after a covered accident.
• Uninsured motorist coverage: Coverage pays for damages to your vehicle or medical treatments if another driver causes a collision and doesn't have any or enough insurance of their own.
• Gap coverage: Coverage pays the difference between what your vehicle is worth and what you owe on your remaining vehicle loan after a collision.

A New Mexico independent insurance agent can help you select the types of car insurance coverage you need most.

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Average Cost of Car Insurance in New Mexico

Average car insurance costs are about $1,237 per year in New Mexico. With the current national average cost being $1,311 per year, drivers in New Mexico save a bit on their premiums in comparison. New Mexico ranks number 28 overall for car insurance costs, so right about in the middle of the pack. Just keep in mind that car insurance prices vary depending on a number of factors, including the carrier you go through, your credit score and driving history, etc. A full-coverage auto insurance policy in New Mexico starts at about $109 per month from affordable carriers like Nationwide.

Average New Mexico Car Insurance Costs by City

Your car insurance premium is actually influenced by the specific town you live in. Car insurance prices are influenced by a city's car values, traffic and crime rates, risk of storms, and more. Drivers in Albuquerque pay about $1,315 per year for car insurance, which is among the highest in the state. However, drivers in Alamogordo pay only about $1,094 annually for their car insurance, which is among the cheapest rates in the state.

Finding Car Insurance Discounts in New Mexico

You can get a ton of different car insurance discount options from most carriers in New Mexico. However, the discounts offered tend to differ from carrier to carrier. You'll likely be able to score at least one or more of the following car insurance discounts in New Mexico:

• Student driver discounts: Applied to drivers with households that have a student driver.
• Paperless billing: Applied to drivers who sign up for paperless billing statements.
• Safe driver discounts: Applied to drivers with a clean track record with no accidents or traffic violations over the past few years.
• Military discounts: Applied to active or even retired military members.
• Anti-theft devices: Applied to drivers whose vehicles are equipped with anti-theft devices that add to its security, such as an alarm.
• Other discounts: If a driver belongs to a certain organization, such as a union, group, or the government or is a teacher, they may earn an additional discount on car insurance premiums.

A New Mexico independent insurance agent is there to help you score any car insurance discounts you're eligible for to help save you the most money possible on your policy.

How to Find the Best Car Insurance Quote in New Mexico

A New Mexico independent insurance agent can help you get the best car insurance quote. New Mexico independent insurance agents browse coverage options from dozens of different carriers and then present you with the results all together in one place. They'll deliver only the best blend of coverage and cost in the quotes they provide.

How to File a Car Insurance Claim in New Mexico

Filing a car insurance claim in New Mexico only takes a few easy steps. Hopefully, you'll never have to file a car insurance claim at all, but if you do, it can provide some peace of mind knowing the process isn't difficult. Keep this guide handy in case you ever need to file a claim in New Mexico:

1. Report to the police: Traffic accidents need to be reported to the cops ASAP, ideally from the scene.
2. Get medical attention: Any injuries also need to be tended to ASAP.
3. Call your independent insurance agent: Your New Mexico independent insurance agent can file your claim for you directly through your carrier.
4. Schedule a rental: If you need a rental vehicle, you can make arrangements through your carrier, or your agent can handle this step for you.
5. Schedule with an evaluation: Last, your agent can schedule a visit from an insurance adjuster to evaluate the damage to your vehicle in person or virtually.

An independent insurance agent in New Mexico can file claims for you right through your car insurance carrier. They can provide you with ETAs for every step of the process, as well.

How does your city measure up to the national average?

National average time spent commuting 26.9 Min

National average car thefts per 1,000 2.3 Year

National average car insurance cost $1,311 Year

City	Commute time (min)	Auto thefts / 1,000	Annual insurance cost
Alamogordo	16.2	2.35	$1,094
Albuquerque	21.8	9.65	$1,315
Carlsbad	19.6	3.77	$1,306
Clovis	15.6	5.03	$1,181
Farmington	18.2	3.21	$1,248
Gallup	12.5	7.29	$1,219
Hobbs	20.0	3.52	$1,238
Rio Rancho	27.7	1.29	$1,315
Roswell	18.0	2.73	$1,306
Santa Fe	19.3	2.63	$1,267
Taos	13.6	3.01	$1,239

New Mexico Car Insurance FAQ