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Cheapest Car Insurance Rates In New Mexico (2018)

With so many companies claiming to have the cheapest auto insurance rates in New Mexico, it’s tough to separate the wheat from the chaff and find the best policy for your needs. Our team has done the legwork for you and compared quotes from nine leading insurance carriers.

To help you find the best insurance quotes in NM, we’ve identified the cheapest providers for various driver types. Below, we’ve listed the most affordable rates for:

No Recent AccidentsTeen Drivers
Drivers With A DUISenior Drivers

Best Rates For Drivers With No Recent Accidents

$100/month estimate

$143/month estimate

State Farm was found to have the lowest rates for motorists who have a clean accident history in New Mexico. When an insurance carrier sees a driver as less of a liability, it usually translates into lower premiums. Driving safely for consecutive years is one of the most effective ways to reduce your insurance rates.

The motorist in our study was shopping for car insurance that covered $50,000 for bodily injuries to one person, $100,000 for total bodily injuries per accident, and $25,000 for property damage liability coverage. We also included uninsured motorist coverage with the same 50/100/25 limits.

Best Rates For Teen Drivers

$128/month estimate

$181/month estimate

Teenagers have the highest accident rate among all age groups, so they’re a greater liability to insurance companies than adult motorists with more experience. The cost of auto insurance for teens can vary significantly from one insurance provider to the next. The young driver in our study was 18 years old and had a clean record—no car accidents or significant traffic violations. Our hypothetical teen driver was looking for a policy that meets New Mexico’s minimum coverage requirements.

Best Rates For Drivers With A DWI Or DUI

$215/month estimate

If you were convicted of DWI or DUI, the fines and attorneys’ fees are just the tip of the iceberg. It is also likely that your car insurance premiums took a major spike. Allstate was found to offer the lowest insurance rates for drivers who have been convicted of a DWI in New Mexico. The hypothetical motorist in our study only had one DWI conviction and otherwise had a clean driving record.

Best Rates For Senior Drivers

$77/month estimate

Senior drivers tend to have an edge when looking for cheap car insurance in New Mexico because they usually drive less than young motorists. State Farm was determined by our researchers to offer the best auto insurance rates for seniors in New Mexico.


To determine the best car insurance rates in NM, our team looked at the average monthly premiums of males and females from five zip codes. Most parts of our research involved an annual mileage of 12,000. The default driver was 29 years old and the vehicle was a 2014 Toyota Corolla. The senior driver in our study was age 65 and drove 4,000 miles per year. The liability coverage limits used for all categories except “teen drivers” were 50/100/25. We also included 50/100/25 for uninsured motorist coverage.

What Are The Minimum Auto Insurance Coverage Requirements In New Mexico?

Drivers in the state of New Mexico must carry car insurance that meets these minimum liability limits:

  • For Bodily Injury To One Person: $25,000
  • For Bodily Injury Per Collision: $50,000
  • For Property Damage: $10,000

New Mexico Car Insurance FAQs

What Are The Penalties For Driving Without Auto Insurance In New Mexico

The penalties for driving without car insurance in New Mexico include a fine of up to $300, up to 90 days in jail, and license plate confiscation or registration suspension. The fine increases to $1,000 if you do not immediately return your vehicle registration and license plates after the suspension.

How Can I Save Money On Car Insurance In New Mexico?

You might be surprised to learn just how easy it is to get your premiums reduced when you know the factors that go into your monthly car insurance rates. In particular, the following have a significant impact on your premiums:

  • Whether you have been involved in a recent collision;
  • Your history of traffic citations or lack thereof;
  • Any DUI or DWI convictions;
  • The number of years you’ve been a licensed driver;
  • Your zip code;
  • The year, make, and model of your vehicle;
  • The mileage you put on your vehicle each year; and
  • Whether you will use your car business, pleasure, or to commute.

Now it’s time to identify strategies to convince your insurance carrier that you deserve lower premiums. You may be able to do this if you:

  1. Avoid collisions for multiple consecutive years;
  2. Make a concerted effort to abide by all traffic laws;
  3. Never drive after consuming alcohol;
  4. Find out which cars are cheapest to insure and consider purchasing one; and
  5. Try to spend less time on the road to reduce your yearly mileage.

You may also want to get quotes from other insurance carriers to find out if you could reduce your premiums by switching. This is especially important if you were recently involved in a collision or convicted of DUI.


cheapest car insurance in new mexico

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