Get Cheap Car Insurance in New Mexico
We researched exceed indemnity companies and found that the average cost of car insurance in New Mexico is $484 yearly (about $40 monthly) for minimum coverage and $1,043 per year (about $87 monthly) for full coverage. Your demand rates depend on your age, location, tug record and early factors, but comparing car policy quotes to find the cheapest insurance company may be the best way to save money .
This article covers everything you need to know about car policy in NM, including :
Cheapest car insurance in New Mexico
On average, New Mexico residents pay around $ 484 for a minimum car indemnity policy and $ 1,043 for a entire coverage policy. That ’ s a $ 559 dispute. A full coverage policy includes comprehensive, collision and liability indemnity. Whereas a minimum coverage policy includes lone the minimal required liability insurance ( in New Mexico its 25/50/10 ) .
Best car insurance companies for a cheap full coverage policy
Our inquiry shows that State Farm offers the cheapest full coverage policy in NM. These are the cheapest car indemnity companies and their rates for a full coverage policy :
department of state farm has the in NM for drivers looking for a full coverage policy, with an modal rate of $ 827 annual or $ 69 monthly. GEICO is close behind with policy costs averaging $ 837 per annum, or $ 70 monthly .
We found that entire coverage policies in New Mexico cost $ 1,043 per year on average, thus by choosing the cheapest insurance company, you may save up to $ 216 per class compared to average. That ’ s why you should always compare quotes from respective indemnity companies .
Best car insurance companies for a minimum coverage policy
In New Mexico, drivers are required to have 25/50/10 coverage limits before hitting the road. Central Mutual offers the most affordable minimum coverage policy rates in the state, according to our data. These are the cheapest indemnity companies for the minimum coverage required in NM :
If you ’ re looking for the cheapest potential car policy in New Mexico, you may decide to opt for minimal coverage. USAA offers the cheapest rates we found, but policies are entirely available to current or former military members and their families. Besides USAA, Central Mutual offers the cheapest minimum car policy policies in New Mexico for $ 406 per class or $ 34 per calendar month. That ’ south $ 78 cheaper than the submit average cost of cable car indemnity .
Best car insurance companies for drivers with an accident
Drivers with accidents on their drive phonograph record can expect higher insurance rates. State Farm is the cheapest insurer for drivers who have an accident on their record. In New Mexico, these are the cheapest indemnity companies for drivers with an at-fault car accident on their record :
According to our inquiry, State Farm offers the bum insurance rates for drivers with an accident on their record, averaging $ 1,005 annually or $ 84 monthly .
Your indemnity cost will probable soar after an at-fault accident. A estimable way to save is by driving safe to keep your record immaculate and compare car indemnity quotes from versatile insurers .
Compare car insurance costs by city in New Mexico
Your car insurance rates depend on many factors, including your nothing code. Where you live in New Mexico determines how much you can expect to pay for car insurance. These are the average rates for car policy in cities across New Mexico :
According to our data, drivers in Blanco pay less for cable car indemnity ( $ 961 annual or $ 80 monthly ) compared to other NM cities. Whereas drivers searching for car policy in Bosque Farms may run into exorbitant rates ( $ 1,467 annually or $ 122 monthly ) .
The most popular car insurance companies in New Mexico
What are the largest car policy companies in your state ? According to S & P, these five policy companies hold the highest market plowshare percentages in the state :
|Insurance company||Market share|
Our data shows that State Farm holds the highest commercialize parcel percentage ( 18.4 % ), followed closely by Progressive ( 14.4 % ) .
Car insurance requirements in New Mexico
In New Mexico, drivers need to follow what is known as the 25/50/10 dominion when it comes to their policy policies. This means that any policy must include the play along :
- $25,000 of coverage for bodily injury liability per person
- $50,000 of coverage for bodily injury liability per incident
- $10,000 of coverage for property damage liability per incident
You can constantly purchase plans with more coverage, but if you want the plain minimal car insurance required to keep you legal on the road, your policy needs the above protection. If you ’ ve financed your car through a lender, they may require that you purchase collision and comprehensive examination coverage to protect their investing .
Best insurance for a full coverage policy: This data is based on the drive profiles of 35-year-old men and women in NM with a clean drive criminal record, excellent credit score and a full coverage policy ( comprehensive, collision and indebtedness ) .
Best insurance for minimum coverage: This datum was compiled using driving profiles from 35-year-old men and women in NM with a clean drive commemorate, excellent credit grade and a minimum coverage policy ( 25/50/10 ).
Best insurance for drivers with an accident: This datum is based on the drive profiles of 35-year-old men and women in NM with a single, at-fault accident, excellent credit rating seduce and a broad coverage policy ( comprehensive, collision and indebtedness ).