Cheapest Car Insurance Quotes in New Mexico (2026)

Best cheap car insurance companies in New Mexico

Cheapest car insurance in New Mexico: Geico

Geico has the cheapest full coverage quotes for New Mexico drivers, at $167 per month. New Mexican drivers should also get quotes from State Farm. Its full coverage policies cost an average of $176 per month. New Mexico drivers with military ties can find even cheaper rates at USAA. Full coverage insurance from USAA costs just $88 per month, which is nearly half the New Mexico average. However, only military members, veterans and some of their family members can get insurance from USAA.

Cheap full coverage auto insurance in NM

Cheapest liability insurance quotes in New Mexico: State Farm

A minimum coverage policy from State Farm costs $49 per month, on average. That's 31% less than the state average, which is $71 per month.

Farm Bureau also offers affordable policies at $52 per month, but it has slightly worse customer service. However, the absolute cheapest rate is from USAA, at $23 per month. USAA is only available to people who have served in the military and their families.

Best cheap New Mexico liability insurance

Cheapest rates for New Mexico teens: Geico

Minimum coverage from Geico costs $126 per month for an 18-year-old driver in New Mexico. That's $92 per month cheaper than the state average, which is $218 per month.

Geico also has the cheapest full coverage quotes for New Mexico teens. At $274 per month, full coverage from Geico is $339 per month less than the New Mexico average of $613.

Young drivers who are enlisted or part of a military family should compare quotes from USAA. Coverage from USAA is less than half the price of a policy from Geico for 18-year-olds.

Best auto insurance in New Mexico for teens

Full coverage car insurance for young drivers in New Mexico is about three times as expensive as coverage for older drivers. That's because teen drivers lack experience behind the wheel, which means they're more prone to accidents.

Cheap insurance in NM after a speeding ticket: State Farm

State Farm has the best quotes in New Mexico for drivers with a speeding ticket. Full coverage from State Farm costs around $189 per month after one speeding ticket. That's 29% cheaper than the New Mexico average.

New Mexico drivers can expect their rates to increase by around 25% after one speeding ticket. That's an average difference of about $53 per month for a full coverage policy.

Cheapest quotes after an accident in New Mexico: State Farm

State Farm has the cheapest car insurance for New Mexico drivers with an accident on their record, at $176 per month. That's 41% cheaper than the average price a New Mexico driver pays after causing a crash.

Causing an accident in New Mexico will raise your car insurance rates by 40%, on average.

However, insurance companies increase rates by different amounts after a crash. State Farm doesn't always increase your rates after an accident. But Allstate raises them by 65% after a single crash.

That's why it's so important to shop around if your driving record changes. But don't rush to get a new policy. Your current company typically won't raise your rates until your policy renews. So you can wait until it's about to expire to switch to a new insurance company.

Best for teens with a speeding ticket or accident: Geico

An 18-year-old driver with a speeding ticket pays an average of $150 per month for minimum coverage from Geico. That's $111 per month less than the New Mexico average, which is $261 per month.

Teens with an at-fault accident pay $164 for coverage from Geico and $170 per month for minimum coverage from State Farm.

Cheapest quotes in NM for teens with a speeding ticket or accident

Cheap auto insurance in NM after a DUI: Geico

Geico has the cheapest quotes for New Mexico drivers with a DUI on their record. Full coverage from Geico costs $245 per month after a DUI. That's $87 per month cheaper than the New Mexico average. It's also $51 per month cheaper than the second-cheapest option, Allstate.

New Mexico drivers can expect their car insurance rates to go up by an average 57% after a DUI. That's an average of $120 per month more for a full coverage policy.

Insurance companies see a DUI as a sign of risky driving behavior. That makes them believe you're more likely to cause an accident in the future, which will cause your rates to go up.

Best rates for NM drivers with poor credit: Geico

Geico has the most affordable car insurance in New Mexico for drivers with bad credit. At $269 per month, full coverage from Geico is 31% cheaper than the state average.

In New Mexico, full coverage rates for drivers with poor credit are 85% higher than rates for drivers with good credit.

Your credit score has nothing to do with your ability to drive safely. But many insurance companies believe that drivers with poor credit are more likely to make claims in the future. That makes them more expensive to insure, which is why they pay more for coverage.

Best car insurance in New Mexico

It regularly earns the highest score on J.D. Power's claims satisfaction survey. That means customers are typically happy with their experience with USAA after an accident. However, USAA is only available to people in the military, veterans and certain family members.

State Farm is the best company for drivers who can't get insurance from USAA. It has reliable customer service and very affordable rates for most New Mexico drivers.

Best insurance companies in New Mexico

Average New Mexico car insurance rates by city

South Valley, a suburb of Albuquerque, has the most expensive rates, at $267 per month.

Where you live within New Mexico can impact average auto insurance rates by up to $88 per month.

Car insurance is typically more expensive if you live in a city rather than a rural area. In New Mexico, the 10 most expensive cities for car insurance are all in and around Albuquerque. That's because accidents and auto theft tend to happen more often in urban areas.

New Mexico auto insurance requirements

New Mexico requires drivers to have a minimum amount of bodily injury and property damage liability. These limits are often written as 25/50/10.

Minimum liability coverage policies are the most affordable. But New Mexico's minimum limits may not be high enough to pay for all of the damage if you cause a serious crash.

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Frequently asked questions

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Methodology

ValuePenguin collected thousands of rates from ZIP codes across New Mexico for the largest insurance companies in the state. Rates are for a 30-year-old man with good credit who drives a 2018 Honda Civic EX.

Quotes for full coverage include higher liability limits than the state requirement along with collision and comprehensive coverage.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only. Your own quotes may be different.