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Best & Cheapest New Mexico Car Insurance as Rated by Customers in 2020

4.67 ★★★★★
4579 customer reviews
rated their claim's experience positively
4.64 ★★★★★
104 customer reviews
rated their claim's experience positively
4.19 ★★★★★
461 customer reviews
rated their claim's experience positively
4.13 ★★★★★
16886 customer reviews
rated their claim's experience positively
4.09 ★★★★★
2059 customer reviews
rated their claim's experience positively
4.05 ★★★★★
2230 customer reviews
rated their claim's experience positively
4.03 ★★★★★
7149 customer reviews
rated their claim's experience positively
3.96 ★★★★★
1333 customer reviews
rated their claim's experience positively
3.93 ★★★★★
746 customer reviews
rated their claim's experience positively
3.89 ★★★★★
143 customer reviews
rated their claim's experience positively
3.78 ★★★★★
163 customer reviews
rated their claim's experience positively
3.74 ★★★★★
545 customer reviews
rated their claim's experience positively
3.69 ★★★★★
90 customer reviews
rated their claim's experience positively
3.08 ★★★★★
295 customer reviews
rated their claim's experience positively
2.57 ★★★★★
126 customer reviews
rated their claim's experience positively
2.16 ★★★★★
133 customer reviews
rated their claim's experience positively

When you’re shopping for car insurance in New Mexico, you want to make sure you’re getting the right coverage at the best value. You also want to ensure your insurance company treats its policyholders well, which is why you’ll want to read Clearsurance customer reviews. Our hope at Clearsurance is to help you better understand how a company performs before you even purchase a policy so you can select the best auto insurance in New Mexico. With thousands of car insurance reviews from unbiased policyholders, we have reviews and rankings for hundreds of car insurance companies so you can evaluate and compare the best New Mexico car insurance companies.

In the table above, you can sort through all the New Mexico car insurance companies ranked on Clearsurance. The rating next to each company — the insurer’s Clearsurance score — is based exclusively on the ratings provided by customers. Note: Only those companies with at least 25 car insurance reviews are eligible to appear in the best New Mexico car insurance rankings.

Interested in learning more about one of these New Mexico car insurance companies? You can visit the company’s profile page to find out what additional coverages they offer, any discounts they offer and read car insurance reviews to learn from the experiences of other policyholders.

On this page:

Who offers the cheapest teen car insurance rates in New Mexico?

State Farm is the cheapest car insurance option for both female and male teen drivers in New Mexico on average. The comparison is based on the five largest car insurers in the state.

Company Female teen rates Male teen rates
Allstate Insurance $1,389 $1,684
Farmers Insurance Group $3,350 $3,682
Geico $1,426 $1,306
Progressive $1,911 $2,137
State Farm Insurance Company $1,020 $1,204

These rates are based on profiles for 18-year-old male and female drivers in New Mexico. The car used was a 2015 Honda Civic EX. We used the minimum car insurance state limits. The rates displayed should only be used for comparative purposes as individual rates in New Mexico will differ. Rate data is provided by Quadrant Information Services.

Who offers the cheapest car insurance rates for a married couple in New Mexico?

Progressive offers the cheapest car insurance rates for married couples in New Mexico on average when compared to the other most popular auto insurers in the state.

Company Married couple rates
Allstate Insurance $2,206
Farmers Insurance Group $2,015
Geico $1,539
Progressive $1,440
State Farm Insurance Company $1,469

These rates are based on a 35-year-old married couple with two drivers and two vehicles on a policy. The cars used were two 2015 Toyota Highlander LEs. Full coverage was used with 100/300/50 limits and a $500 collision and comprehensive deductible. The drivers had 1 driving incident within the past 3 years and they both have a good credit score. The rates displayed should only be used for comparative purposes as individual rates in New Mexico will differ. Rate data is provided by Quadrant Information Services.

Who offers the cheapest senior car insurance rates in New Mexico?

Among the five largest car insurance companies in New Mexico, Geico provides the cheapest car insurance rates for male and female senior drivers on average.

Company Female senior rates Male senior rates
Allstate Insurance $1,319 $1,388
Farmers Insurance Group $877 $956
Geico $682 $682
Progressive $770 $789
State Farm Insurance Company $691 $691

These rates are based on profiles for 65-year-old male and female drivers. The car used for each was a 2015 Toyota Camry LE. Full coverage was used with 100/300/50 limits and a $500 collision and comprehensive deductible. The drivers had zero incidents within the past three years and a good credit score. The rates displayed should only be used for comparative purposes as individual rates in New Mexico will differ. Rate data is provided by Quadrant Information Services.

10 Cheapest areas in New Mexico for car insurance

Since car insurance rates depend on factors such as crime rate and accidents in your area, car insurance rates in New Mexico can vary from area to area. The area with the cheapest car insurance in New Mexico is Alamogordo. In the table below, you can see the top 10 cheapest areas in New Mexico for car insurance based on average rates for single adults.

Area Car insurance rates
Alamogordo $926
Holloman Air Force Base $939
Deming $958
Hurley $961
Buckhorn $962
Tularosa $963
Silver City $963
Santa Clara $964
Bent $965
Hachita $968

These rates are based on a 35-year-old single adult with one driver and one vehicle on a policy. The car used was a 2015 Toyota Highlander LE. Full coverage was used with 100/300/50 limits and a $500 collision and comprehensive deductible. The driver had 1 driving incident within the past 3 years and had a good credit score. The rates displayed should only be used for comparative purposes as individual rates in New Mexico will differ. Rate data is provided by Quadrant Information Services.

10 Most expensive areas in New Mexico for car insurance

Out of all areas in New Mexico, Peralta is the most expensive area for car insurance on average. Different areas in New Mexico have different car insurance rates. The table below displays the top 10 most expensive areas in New Mexico for car insurance based on average rates for a single adult.

Area Car insurance rates
Peralta $1,217
Los Lunas $1,221
Corrales $1,236
Belen $1,236
Sandia Park $1,238
Kirtland Air Force Base $1,240
Cedar Crest $1,242
Tijeras $1,248
Albuquerque $1,291
Isleta $1,314

These rates are based on a 35-year-old single adult with one driver and one vehicle on a policy. The car used was a 2015 Toyota Highlander LE. Full coverage was used with 100/300/50 limits and a $500 collision and comprehensive deductible. The driver had 1 driving incident within the past 3 years and had a good credit score. The rates displayed should only be used for comparative purposes as individual rates in New Mexico will differ. Rate data is provided by Quadrant Information Services.

Minimum car insurance coverage and limits in New Mexico

You’re required to have two types of car insurance coverage in New Mexico: liability and uninsured/underinsured motorist. While uninsured/underinsured motorist coverage is required, it does comes with a caveat: you may reject this coverage in writing.

While doing so may lower your premium, you’ll have significantly less coverage as a result. And having uninsured/underinsured motorist coverage may be especially valuable in New Mexico. According to 2015 data from the Insurance Information Institute, 20.8 percent of drivers in the state are uninsured — the third highest percentage of any state in the country.

And it’s important to remember that uninsured/underinsured motorist coverage protects you from more than just drivers without insurance. It also protects you from drivers who don’t have high enough limits and from hit-and-run drivers.

The minimum limits for New Mexico’s required coverages are listed below. You should consider purchasing higher limits, though, as these minimums likely wouldn’t be enough to cover you in a costly accident. Take the $10,000 minimum for property damage liability, for example. If you are at fault in an accident that totals another driver’s car, there’s a good chance the damage could exceed that limit. In addition to purchasing the required coverages, you should also look into some of the optional coverages available in the state.

Collision insurance and comprehensive insurance coverage will protect your car if it’s damaged in an accident or from damage not related to an accident, such as vandalism or a falling tree.

New Mexico state minimum requirements:

Liability:

  • Bodily injury — $25,000 per person
  • Bodily injury — $50,000 per accident
  • Property damage — $10,000 per accident

Underinsured/uninsured motorist:

  • Bodily injury — $25,000 per person
  • Bodily injury — $50,000 per accident
  • Property damage — $10,000 per accident

Bodily injury liability provides coverage for injuries sustained by the other vehicle’s driver and passengers if you are held responsible for an accident. This coverage also kicks in to defend you in the event of any legal claims.

Property damage liability provides coverage in the event you damage someone else’s property in a car accident, most commonly the other vehicle, but also things like a home or fence.

How car insurance rates are calculated in New Mexico

When searching and comparing quotes from the best auto insurance companies in New Mexico, it can be frustrating trying to understand how your insurance rates are calculated. While there is no exact formula that each car insurance company uses when providing you a quote, there are many factors that do contribute to the price you pay for your insurance. Among the factors that car insurers consider are:

  • Your driving record
  • How much you drive
  • Location
  • Age
  • Marital status
  • Gender
  • Your car’s make, model and year
  • Your credit history
  • Amount of car insurance coverage (required coverage and optional add-ons, such as collision and comprehensive)

One of the biggest misunderstandings when it comes to insurance rates is that the history of drivers in your area also contributes to how much you pay. For instance, even if you go two years without an accident, if there were a lot of accidents near you recently, your rates might still go up. Why is that the case?

Insurance companies disperse risk across all policyholders so that when it comes time to pay a claim, they have enough money to pay out. But imagine a scenario where they only raised rates for drivers with an accident. For drivers who had an expensive claim, the drivers simply wouldn't be able to afford the raised rates that are based off how much their insurer had to pay after an accident. So instead, insurance companies slightly increase rates across the board to offset the costs, though of course the at-fault driver may see a larger increase.

How to save money on your car insurance in New Mexico

At the end of the day, we’d all like to have the best coverage at a cheap, affordable price from one of the best New Mexico car insurance companies. While you never want to sacrifice quality to save a couple of dollars, there are some different ways you can lower your car insurance premium.

Here are six ways you may be able to lower your car insurance rates:

  • Bundle your car insurance with other policies
  • Consider raising your deductibles
  • Pay your car insurance policy in full
  • Try usage-based car insurance
  • Monitor price changes to your policy
  • Shop for better insurance rates

How Clearsurance rates and ranks the best car insurance companies in New Mexico

Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:

  • Price
  • Customer Service
  • Claim service
  • Likelihood to renew

The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.

The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.

Car insurance guide

Whether you’re buying your insurance direct or going through an agent, understanding the different car insurance coverage options is a must. Do you know what is covered by comprehensive coverage? Are you familiar with uninsured motorist coverage? Do you know how a deductible works?

We want to make sure you’re equipped with a proper knowledge of car insurance, so check out our car insurance guide. Looking for more educational information about car insurance? Check out our car insurance blog for more information and topics related to car insurance.