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Cheapest Auto Insurance in New Mexico 2021

Cheapest Auto Insurance in New Mexico 2021

A car accident occurs every 11 minutes in New Mexico, based on 2018 collision data. Auto insurance is a legal requirement in New Mexico to keep drivers safe and cover their legal and financial liability in the event of an accident due to a mistake. In New Mexico, the average driver pays $ 1,388 for comprehensive auto insurance and $ 337 for auto insurance with minimal coverage.

The Cheapest Auto Insurance in New Mexico

Not all auto insurance companies in New Mexico are the same. Some providers offer lower rates than others. Here are the cheapest auto insurance companies in New Mexico, their full annual coverage and minimum coverage premiums:


USAA is the cheapest auto insurance company in New Mexico. The average full coverage policy costs $ 1,126 per year and the average cost of a minimum coverage policy is $ 225 per year. However, only drivers who are active military members or veterans are eligible for coverage.

According to the company, drivers save an average of $ 707 a year when they move to USAA. Drivers can also take advantage of discounts to be a safe driver, get driver training, get good grades in school, park a vehicle on a military base, and insure multiple cars and package policies.


Geico is a great option for New Mexico drivers looking for basic coverage, without unnecessary additions, and at an affordable price. The average driver pays $ 1,412 for full Geico coverage and $ 300 for minimal coverage.

Geico's coverage is very limited, but the company offers several discounts. There are savings opportunities for military members, federal personnel, employee / member groups, owning a safe car, posting emergencies, bundling policies, and taking a defensive driving course.

State farm

State Farm is America's best auto insurance company. While they provide limited coverage, drivers can get less than the average rate. In New Mexico, the average full coverage policy costs $ 1,364 per year and the average minimum coverage policy is $ 303 per year.

State Farm allows New Mexico drivers to take advantage of discounts for not having accidents, being a smart student, sharing policies, being a school student, getting driver training and having a safe car. There are also two safe driver discount programs, Stay Out for Drivers Under 25, Drive Safely, and Save for Adults 25 and Over.


Allstate auto insurance is more expensive than average, but drivers get solid coverage, like a new car and auto insurance. The average New Mexico driver pays $ 1,667 for full coverage and $ 373 for minimum Allstate coverage.

New Mexico drivers can reduce their wages by taking advantage of these discounts, such as getting good grades in school, owning a vehicle with anti-lock brakes, insuring a new car, pre-signing the insurance policy, and paying in full. Allstate also has an app-based safe driver discount program called Drivewise, which rewards drivers for practicing safe driving skills.


Metropolitan Insurance, also known as MetLife, is a good provider for drivers who want special coverage such as specialty parts replacement and better car rental coverage. In New Mexico, the average driver pays $ 1,436 for full coverage and $ 387 for minimal coverage.

MetLife offers some discounts for additional savings. There are discounts for good drivers, joint home and car insurance, and registration for automatic payments. MetLife also offers discounts for employers and member groups, allowing New Mexico drivers to save an average of 15% on their policies.

Affordable Coverage for New Mexico Drivers

New Mexico auto insurance is required by law. Drivers must use at least 25/50/10 liability insurance, which includes $ 25,000 in personal injury liability coverage per person, $ 50,000 in accident personal injury liability coverage, and $ 10,000 in liability coverage for property damage for every accident.

Drivers looking for low-cost auto insurance pay the lowest price when purchasing insurance for minimal coverage. However, there is no guarantee that New Mexico's minimum insurance will cover the full cost of an accident should it go wrong.

Any financial liability beyond the manager's policy limit comes directly out of his pocket. For example, if one driver causes an accident and the other vehicle is damaged by $ 15,000, the defective driver is responsible for paying the difference of $ 5,000.

How to Get Affordable Car Insurance in New Mexico

There are many ways drivers can get affordable car insurance in New Mexico. Here are some things to consider:

  • Purchases: Don't take the first insurance company you come across. Instead, spend time researching and comparing vendors. You should also shop around to see which company can offer the lowest price for the amount of coverage you need.
  • Discount Increase - The higher the percentage of liability on your policy, the lower your monthly premium. Before increasing your deductible, make sure you can pay the higher out-of-pocket costs in the event of a future claim.
  • Improve your credit score - Most insurance companies will consider your credit score when calculating your GPA. Drivers with the lowest credit points pay the highest rate, so working on your credit score can save you money.
  • Take a defensive driving course - Most insurance companies offer discounts to drivers who undergo certified defensive driving or driving training. This discount can be beneficial to young and old drivers who often pay higher rates due to their increased risk.