Home Car insurance Average car insurance cost Car insurance rates by state Average car insurance cost in New Mexico Average car insurance cost in New Mexico The average premium for car insurance in New Mexico is $2,049 per year or $171 per month. View Carriers Please enter valid zip Compare top carriers in your area Written by Prachi Singh Prachi Singh Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry. | Updated on: December 31, 2024 Why you can trust Insure.com At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. 25 Years of insurance experience 57M Quotes reviewed 136 Insurance providers evaluated 34.5K ZIP codes analyzed If you’re looking for car insurance rates in New Mexico, the average annual premium is $2,049, per year or $171 monthly. This contrasts with the national average of $1,895, highlighting a variation of $154. Various elements influence car insurance rates, including age, gender, driving record, credit score, and location.This guide talks about the average cost of full coverage in the state, identifies companies providing affordable monthly premiums for car insurance, outlines average car insurance rates across cities in New Mexico, and breaks down car insurance rates by age group. To save on your auto insurance expenses, it’s advisable to shop around and compare quotes. Keep reading to ensure that your insurance policy aligns with your needs without exceeding your budget. Average annual cost $2,049 Average per month cost $171 Average cost for state minimum coverage $421 / Year Cheapest car insurance company Geico($1,406 / Year) Average cost for young drivers $3,115 / Year Average cost for Senior drivers $2,044 / Year Key TakeawaysThe average car insurance cost in New Mexico is $2,049 per year, based on Insure.com’s analysis.In New Mexico, the average premium for car insurance is $171 per month.Geico has the cheapest car insurance rates in New Mexico, at an average annual rate of $1,406 a year.Average car insurance cost in New Mexico per monthIn New Mexico, car insurance costs around $171 per month on average.It’s a common occurrence for the cost of the same coverage to vary among companies, which is true of every auto insurance company. Thus, when seeking car insurance rates in New Mexico, it’s wise to obtain quotes from multiple firms.Cheapest car insurance companies in New MexicoAccording to Insure.com’s rate analysis, the most affordable provider of car insurance premiums in New Mexico is Geico, with an average annual cost of $1,406 and a monthly average of $117. Following closely is Central Insurance, providing coverage at an average monthly rate of $126.The following table lists additional car insurance companies operating in New Mexico and their respective average monthly and annual costs. Affordable car insurance providers in New Mexico Graph Table Company nameAverage per month costAverage annual costGeico$117$1,406Central Insurance$126$1,517Progressive$130$1,557State Farm$139$1,669Nationwide$150$1,806Farmers$228$2,740Allstate$236$2,834Iowa Farm Bureau$243$2,912Kemper$272$3,268USAA$88$1,054 Read our guide to cheap car insurance companies New Mexico car insurance calculator Select Year Select Year202320222021202020192018201720162015201420132012201120102009200820072006 Vehicle Make Select MakeAcuraAlfa-RomeoAudiBMWBuickCadillacChevroletChryslerDodgeFordGenesisGMCHondaHyundaiInfinitiJaguarJeepKiaLand RoverLexusLincolnMaseratiMazdaMercedesMiniMitsubishiNissanPolestarPorscheRamSubaruTeslaToyotaVolkswagenVolvo Vehicle Model Select ModelIntegraIntegra A-SpecIntegra A-Spec TechMDXMDX SHMDX SH A-SpecMDX SH AdvanceMDX SH TechMDX SH Type SMDX SH Type S Advance PackageMDX TechRDXRDX A-SpecRDX A-Spec AdvanceRDX SHRDX SH A-SpecRDX SH AdvanceRDX SH TechRDX TechTLX 2.0TTLX 2.0T A-SpecTLX 2.0T SH A-SpecTLX 2.0T SH AdvanceTLX 2.0T TechTLX 3.0T Type S State Select StateAlaskaAlabamaArizonaArkansasCaliforniaColoradoConnecticutWashington D.C.DelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew MexicoNew YorkNew JerseyNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyomingNationwide Reset Vehicle already present. 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Year 2023 Cylinders 4 Make & Model Acura - Integra State New Mexico Style 2WD 4 Door Hatchback Turbo CVT Vehicle Type Luxury Car State Minimum Coverage NA* Liability Coverage NA* Full Coverage $2,220/Year OR $185/month New Mexico Get Quote Get Quote Let's start saving! To save more, tell us about yourself: What is Your Zip Code? What is Your Age? 16 - 20 21 - 24 25 - 34 35 - 44 45 - 54 55 - 64 65+ SEE IF YOU QUALIFY FOR MAJOR DISCOUNTS: I am a homeowner I am currently insured I am a good driver A good driver means: Have no accidents or violations in the last 3 years. Don't have a DUI. Don't need an SR22. Number of vehicles - + *It is recommended that you should get full coverage car insurance for vehicles 2020 or newer. Methodology Insure.com commissioned Quadrant Information Services to calculate average auto insurance rates for vehicles from 2006 to 2023. Our hypothetical driver is a 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. Rates for vehicles up until 2023 includes uninsured motorist coverage (since some states require it, we do it for all) and PIP or Medical Payments, if it is required by state law. This hypothetical driver has a clean record and good credit. For liability 100/300 is rates the same hypothetical driver but with liability limits of 100/300/50, uninsured/underinsured motorist in matching amounts and PIP or MedPay, if required by state. We recommend limits this high, even if you have only liability coverage. A state-minimum policy includes only the basic state liability limits and any other state-required coverages, such as uninsured motorist or PIP. Averages were calculated using data from six large carriers, such as Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm. Rates were averaged across multiple ZIP codes and insurance companies. Average rates are for comparative purposes; your rate will depend on your personal factors. Average cost of car insurance by coverage levels in New MexicoCar insurance rates in New Mexico are directly proportional to the amount of coverage you buy. Your premium is determined by factors such as your liability limits and your choice of comprehensive and collision coverage.Liability-only insurance protects against third-party property damage and personal injuries in an accident. However, relying solely on liability coverage would not cover your injuries or property damage if you are considered at fault in a collision. Liability-only insurance for a coverage limit of 50/100/50 costs $658 per year in New Mexico.As mentioned earlier, increasing the coverage on your policy leads to a rise in your premium, as the insurer will need to provide compensation in case of accidents or other damages. The average annual cost of full coverage car insurance in New Mexico amounts to $2,049 per year.If you don’t own a car but frequently rent one, non-owner state minimum liability coverage is the most suitable option. Similar to liability-only coverage, it protects property damage and bodily injury caused by another driver. In New Mexico, the average annual cost for non-owner state minimum liability coverage is $293.For individuals seeking to reduce their car insurance expenses, selecting only the state minimum liability coverage is an option to ensure legal driving privileges within the state. This coverage, which includes only the minimum liability requirements, carries an annual cost of $421 in New Mexico.1State minimum:$4212Liability only:$6583Full coverage:$2,0494Non-owners:$293Auto insurance premiums vary significantly from city to city, so drivers need to be sure they’re getting the best deal. Insure.com has done the research for you. Get more information on auto insurance rates by city below.Car insurance rates in New Mexico by cityAlbuquerqueLas CrucesRio RanchoRoswellSanta FeAverage car insurance cost in New Mexico by citySeveral factors contribute to determining your car insurance premium, including your state, city, and even ZIP code. The frequency of accidents and the likelihood of vehicle theft or vandalism can impact the overall cost associated with a particular city or ZIP code.The table below depicts the top popular cities in New Mexico:CityAverage annual costAlamogordo$1,742Albuquerque$2,231Carlsbad$2,244Clovis$2,153Farmington$1,829Hobbs$2,194Las Cruces$1,894Rio Rancho$2,146Roswell$2,146Santa Fe$2,069Average car insurance cost in New Mexico by age of the driverAge plays a significant role in determining auto insurance rates. Teenagers have a higher chance of being involved in a car accident compared to any other age group. In New Mexico, the average annual rate for young drivers is $3,115, whereas for seniors, it is $2,044. The rate for young drivers exceeds that of senior drivers by $1,071.Statistics show that young drivers are more likely to be involved in vehicle accidents than more seasoned drivers. As a result, they are classified as high-risk individuals and are more expensive to insure. This classification is primarily due to tendencies such as speeding and limited on-road experience. However, premiums begin to increase again around the age of 70, as certain aspects of aging may impact driving capabilities.Average car insurance cost in New Mexico for young driversIn New Mexico, the auto insurance premium for female young drivers averages at $2,958 annually, or $246 monthly, while male young drivers face a yearly rate of $3,271, or a monthly average of $273. The average annual rates for young male and female drivers are listed in the table below: Age of driver Average annual cost for Male drivers Average annual cost for Female drivers 20 $4,133 $3,595 21 $3,403 $3,039 22 $3,073 $2,822 23 $2,950 $2,748 24 $2,800 $2,601 Average car insurance cost in New Mexico for senior driversIn New Mexico, the annual car insurance cost for senior female drivers is $2,012 or $168 monthly. Similarly, male senior drivers face a yearly insurance cost of $2,077 per year, with a monthly average of $173. Age of driver Average annual cost for Male drivers Average annual cost for Female drivers 65 $1,961 $1,923 70 $2,048 $1,986 75 $2,223 $2,127 Read more about senior car insuranceMinimum car insurance requirements in New MexicoEvery state establishes guidelines regarding the minimum car insurance coverage drivers must possess to be able to drive vehicles legally. As per details provided by the New Mexico Department of Insurance, the required coverages and minimum coverage limits in New Mexico are as follows:Bodily injury per person: $25,000Bodily injury per accident: $50,000Personal property coverage per person: $10,000Cheapest cars to insure in New MexicoThe Honda HR-V has the most affordable average annual insurance premium, standing at $1,827. The Mazda CX-30 is followed closely at $1,841 per year. The difference in the cost of insuring these two models is $14 annually.MakeModelAverage annual premiumHondaHR-V$1,827MazdaCX-30$1,841KiaSeltos$1,846VolkswagenTiguan$1,848HondaCR-V$1,852HyundaiVenue$1,865MazdaCX-5$1,870JeepWrangler$1,875FordMaverick$1,880SubaruForester$1,882Most expensive cars to insure in New MexicoThe Maserati Quattroporte, at an average annual premium of $7,132, tops the list as the most expensive car to insure. However, the difference between the cheapest and most expensive cars to insure is $5,305 annually.MakeModelAverage annual premiumMaseratiQuattroporte$7,132MaseratiQuattroporte Trofeo$7,037AudiR8 Performance$6,934MaseratiGhibli Trofeo$6,867MaseratiGhibli$6,231BMWM8$5,613AudiR8$5,357AudiS8$5,258MaseratiLevante Trofeo$5,241Porsche911 Carrera GT3 RS$5,213MethodologyThe Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 56,838,240 insurance quotes from 136 insurance companies across 34,523 ZIP codes.The insurance rates are based on a sample profile of a 40-year-old male driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:The quoted insurance rates are for comparison purposes, and your individual rates may vary.57MQuotes reviewed136No. of carriers analyzed34.5KZIP codes analyzedHow much is car insurance in other statesAlaska$1,676/YearAlabama$1,860/YearArkansas$1,957/YearArizona$1,812/YearCalifornia$2,416/YearColorado$2,337/YearConnecticut$1,725/YearDelaware$2,063/YearFlorida$2,694/YearGeorgia$1,970/YearHawaii$1,517/YearIowa$1,630/YearIdaho$1,428/YearIllinois$1,532/YearIndiana$1,515/YearKansas$1,900/YearKentucky$2,228/YearLouisiana$2,883/YearMassachusetts$1,726/YearMaryland$1,746/YearMaine$1,175/YearMichigan$2,352/YearMinnesota$1,911/YearMissouri$1,982/YearMississippi$2,008/YearMontana$2,193/YearNorth Carolina$1,741/YearNorth Dakota$1,665/YearNebraska$1,902/YearNew Hampshire$1,265/YearNew Jersey$1,902/YearNevada$2,060/YearNew York$1,870/YearOhio$1,417/YearOklahoma$2,138/YearOregon$1,678/YearPennsylvania$1,872/YearRhode Island$2,061/YearSouth Carolina$2,009/YearSouth Dakota$2,280/YearTennessee$1,677/YearTexas$2,043/YearUtah$1,825/YearVirginia$1,469/YearVermont$1,319/YearWashington$1,608/YearWisconsin$1,664/YearWest Virginia$2,005/YearWyoming$1,758/YearShow more Explore other insurance options in New-Mexico Non-owner car insurance in New Mexico Average renters insurance cost in New Mexico Average homeowners insurance cost in New Mexico Prachi SinghContributing Researcher . .Prachi is an insurance writer with a master’s degree in business administration. 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Part 1: How insurance companies spot bogus claims Insurance options for rideshare drivers 10 things that are illegal but shouldn’t be 1/1 On this page Average car insurance cost in New Mexico per monthCheapest car insurance companies in New MexicoAverage cost of car insurance by coverage levels in New MexicoAverage car insurance cost in New Mexico by cityAverage car insurance cost in New Mexico by age of the driverMinimum car insurance requirements in New MexicoCheapest cars to insure in New MexicoMost expensive cars to insure in New MexicoMethodology ZIP Code Please enter valid ZIP See rates