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Progressive, Root, and National General rank among the most affordable car insurance providers in New Mexico.
Full-coverage car insurance in New Mexico averages $151 per month, compared to the national average of $186. Your actual costs will depend on multiple factors, including your age, driving history, and where you live. Getting quotes from several insurance companies is the most reliable way to find your best rate.
This guide breaks down New Mexico's most affordable car insurance options by coverage type, driver profile, and insurance company.
Affordable full-coverage car insurance in New Mexico
Full-coverage insurance in New Mexico runs $151 per month on average, compared to $186 nationwide. Progressive, Root, and National General consistently offer some of the cheapest car insurance for comprehensive protection in the state.
| Average monthly full coverage cost | |
| New Mexico average | $151 |
| National average | $186 |
| Progressive | $152 |
| Root | $138 |
| National General | $154 |
| Safeco | $163 |
Affordable liability-only car insurance in New Mexico
For drivers seeking the most affordable liability-only car insurance, National General, The General, and Progressive lead the pack in New Mexico.
Liability-only coverage in New Mexico costs $71 monthly on average, while the national average sits at $104.
| Average monthly liability-only cost | |
| New Mexico average | $71 |
| National average | $104 |
| National General | $63 |
| The General | $62 |
| Progressive | $68 |
| Bristol West | $69 |
Cheap car insurance in New Mexico by age
Age significantly impacts insurance costs. Car insurance for teens carries the highest premiums, averaging $297 monthly for full coverage in New Mexico because of their limited driving experience.
Premiums drop as drivers enter their 20s, averaging $198 per month for full coverage. Costs continue declining for those in their 30s and 40s, with monthly rates around $165 and $164, respectively.
Rates can climb again for drivers in their 60s and older. New Mexico seniors pay around $124 monthly for full coverage in their 60s and $120 in their 70s.
These age-related premium changes reflect varying risk levels across age groups, with inexperienced younger drivers facing higher rates and older drivers sometimes seeing increases due to factors like health conditions and changing driving patterns.
| Age group | Average monthly full coverage cost | Average monthly liability-only cost |
| Teens | $297 | $139 |
| 20s | $198 | $93 |
| 30s | $165 | $78 |
| 40s | $164 | $77 |
| 50s | $138 | $65 |
| 60s | $124 | $58 |
| 70s | $120 | $56 |
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Cheap car insurance in New Mexico for high-risk drivers
New Mexico residents with a bad driving record typically face higher insurance premiums. Below are the average New Mexico rates for drivers with an accident, speeding ticket, or DUI on their record.
| Violation | Average monthly full coverage cost | Average monthly liability-only cost |
| Accident | $193 | $90 |
| Speeding ticket | $170 | $80 |
| DUI | $197 | $92 |
Compare low-cost car insurance after an accident
For New Mexico drivers with an accident on their record, Progressive, Root, and National General provide competitive rates. Full-coverage insurance for drivers with an accident averages $193 monthly.
| Company | Average monthly full coverage cost | Average monthly liability-only cost |
| Progressive | $230 | $104 |
| Root | $175 | $94 |
| National General | $199 | $81 |
Average rate:
Compare low-cost car insurance after a speeding ticket
New Mexico drivers with a speeding ticket can find affordable options through Progressive, Root, and National General. Drivers with a speeding ticket pay an average of $170 monthly for full coverage.
| Company | Average monthly full coverage cost | Average monthly liability-only cost |
| Progressive | $225 | $102 |
| Root | $173 | $93 |
| National General | $182 | $74 |
Compare low-cost car insurance after DUI conviction
New Mexico drivers with a DUI conviction can access affordable full coverage through Progressive, Root, and National General. The average full coverage rate for drivers with a DUI is $197.
| Company | Average monthly full coverage cost | Average monthly liability-only cost |
| Progressive | $261 | $118 |
| Root | $186 | $100 |
| National General | $213 | $86 |
Cheap car insurance in New Mexico by credit score
New Mexico drivers with excellent credit pay around $137 monthly for full coverage. Drivers with poor credit face steeper premiums, starting at $188 per month.
This rate difference stems from how credit scores influence insurance pricing, with poor credit often leading to higher premiums due to perceived nonpayment risk.
| Credit score | Average monthly cost of full coverage | Average monthly cost of liability-only |
| Excellent | $137 | $64 |
| Good | $143 | $67 |
| Average | $154 | $72 |
| Poor | $188 | $88 |
FAQs
How do weather-related risks in New Mexico affect insurance needs?
New Mexico's diverse climate creates significant vehicle damage risks that minimum liability coverage doesn't address, making comprehensive coverage particularly valuable. The state experiences severe hailstorms, flash flooding from monsoon rains, and extreme temperature variations that can damage vehicles. Without comprehensive coverage, New Mexico drivers must pay for weather-related repair costs entirely out of pocket.
Why do Albuquerque drivers pay significantly more than rural New Mexico residents?
Car insurance premiums in Albuquerque and surrounding areas run substantially higher than rural New Mexico locations due to the city's elevated vehicle theft rates, which rank among the highest nationally. Urban concentration also brings increased accident frequency, and higher population density. Drivers in smaller communities pay less monthly compared to Albuquerque metro area residents for identical coverage, though this difference between urban and rural rates is not unique to New Mexico.
What insurance should I get in light of New Mexico's uninsured driver problem?
New Mexico has one of the nation's highest uninsured motorist rates at approximately 24% based on the most-recent data from the Insurance Information Institute. Because of this significant risk, adding uninsured and underinsured motorist protection is essential for New Mexico drivers, even though state law allows you to decline this coverage in writing. Without this protection, you could face substantial out-of-pocket expenses if hit by an uninsured driver, and legal action rarely recovers damages in these situations.
Bottom line
These companies may offer the lowest rates in New Mexico overall, but that doesn't guarantee they're the cheapest option for your specific situation. The most effective way to find the right insurance company is to collect quotes from several of the best car insurance companies and compare them based on both price and customer service.
Data throughout provided by Insurify.
Average rate:
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