New Mexico Car Insurance Calculator
Calculate your auto insurance cost in New Mexico. Compare with state averages and find savings.
$1,567
Avg Annual Premium
25/50/10
Min Liability
Monthly Avg
$131
Full Coverage
$2,034
Min Coverage
$534
Uninsured Rate
18.7%
New Mexico Car Insurance Requirements
Minimum Liability Coverage
Bodily Injury (per person)$25,000
Bodily Injury (per accident)$50,000
Property Damage$10,000
Additional Requirements
PIP RequiredNo
Uninsured MotoristOptional
Med Pay RequiredNo
Factors Affecting Car Insurance Rates in New Mexico
High uninsured rateRural roadsDesert conditions
Major Metro Areas in New Mexico
AlbuquerqueLas CrucesRio RanchoSanta FeRoswell
FAQ
New Mexico Car Insurance FAQ
Everything you need to know about car insurance rates, requirements, and savings in New Mexico
The average annual car insurance premium in New Mexico is $1,567, or about $131 per month. Full coverage averages $2,034 annually, while minimum coverage averages $534. Your actual rate depends on your age, driving record, vehicle, and coverage level.
New Mexico requires minimum liability coverage of 25/50/10 ($25,000/$50,000 for bodily injury and $10,000 for property damage).
Key factors affecting New Mexico car insurance rates include: High uninsured rate, Rural roads, Desert conditions. Additionally, your age, driving history, credit score, vehicle type, annual mileage, and coverage level all impact your premium.
Approximately 18.7% of drivers in New Mexico are uninsured. This is higher than the national average, making uninsured motorist coverage especially important. Uninsured motorist coverage protects you if you're hit by an uninsured driver.
To lower your New Mexico car insurance: 1) Compare quotes from multiple insurers like GEICO, State Farm, Progressive. 2) Increase your deductible. 3) Bundle with home insurance. 4) Take a defensive driving course. 5) Maintain a clean driving record. 6) Ask about discounts for low mileage, good students, or safe driving apps.
The top car insurance companies in New Mexico include: GEICO, State Farm, Progressive, Allstate, Farmers. Each company offers different rates and discounts, so it's best to compare quotes from multiple insurers to find the best rate for your situation.
NM Insurance Costs
Average premiums in New Mexico:
- Annual Average$1,567
- Monthly Average$131
- Full Coverage$2,034
- Minimum Coverage$534
NM Requirements
Minimum coverage required:
- Liability25/50/10
- PIP RequiredNo
- UM RequiredNo
- Uninsured Rate18.7%
Top NM Insurers
Popular insurance companies:
- •GEICO
- •State Farm
- •Progressive
- •Allstate
- •Farmers