The Cheapest Car Insurance in New Mexico for 2022 | https://insurecar.info

Although MetLife is the cheapest option for the average driver in New Mexico, other factors like coverage amounts, driving history, age and accredit score besides impact the monetary value of car insurance in New Mexico. For example, if you have a poor driving record, State Farm offers the bum policy. For drivers with bad citation, Allstate is the most low-cost car insurance company in New Mexico .iconribbon brassy car policy

New Mexico 2022

The Cheapest Car Insurance in New Mexico

Cheapest Minimum Liability Car Insurance in New Mexico

In New Mexico, minimum indebtedness coverage is the cheapest car policy policy, but it only meets the state ’ randomness requirements, providing no extra coverage. This insurance covers you for the costs of property damage and medical discussion incurred by others in an at-fault accident, but not your own vehicle or checkup expenses. The least expensive car insurance companies in New Mexico for minimum coverage are :

  • MetLife: $441 per year
  • State Farm: $507 per year

The dearly-won cable car policy company in New Mexico for minimal coverage is Allied, with an average annual premium of $ 745 .

Cheapest Minimum Car Insurance in New Mexico
  • caller annually monthly
  • 1 .MetLife $ 441 $ 37
  • 2 .State Farm $ 507 $ 42
  • 3 .Progressive $ 579 $ 48
  • 4 .GEICO $ 607 $ 51
  • 5 .Allstate $ 613 $ 51
  • 6 .Farmers $ 639 $ 53
  • 7. Allied $ 745 $ 62

These prices are alone estimates based on rates for an average New Mexico driver and should not be used to compare policy prices .Insurance Rates

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Cheapest Full Coverage Car Insurance in New Mexico

It ’ sulfur ideal to compare car policy quotes from several providers so you can find the most low-cost prices. A full coverage policy with comprehensive and collision insurance and higher liability limits can protect against most road accidents and off-road incidents in New Mexico. It will cost more than minimum coverage, but it safeguards against the cost of damages to your cable car, not merely others. The most low-cost car indemnity providers of full coverage in New Mexico are :

  • MetLife: $910 per year
  • State Farm: $1,044 per year

meanwhile, Allied offers the most expensive full coverage box in this state of matter, with average costs of $ 1,443 per year .

Cheapest Full Coverage Car Insurance in New Mexico
  • company per annum monthly
  • 1 .MetLife $ 910 $ 76
  • 2 .State Farm $ 1,044 $ 87
  • 3 .Allstate $ 1,071 $ 89
  • 4 .Progressive $ 1,085 $ 90
  • 5 .Farmers $ 1,154 $ 96
  • 6 .GEICO $ 1,224 $ 102
  • 7. Allied $ 1,443 $ 120

Please remember that your individual premiums will be different than these examples. Prices are for a policy with comprehensive and collision policy, along with $ 100,000 in bodily injury liability coverage per person, $ 300,000 in bodily injury liability coverage per accident and $ 100,000 in property damage coverage per accident.

How to Compare Cheap New Mexico Car Insurance Quotes Online

Most car insurance providers offer a commodious and sanely accurate on-line quote creature. You should ideally use the lapp consistent coverage amounts when comparing quotes. For exemplar, if you get a quote with one carrier for comprehensive and collision insurance with a $ 500 deductible, you should make certain to use the lapp deductible when comparing quotes with another insurance company. You can use MoneyGeek ’ south car policy calculator to get a quote calculate. If you want a personalize quotation, you will need to provide more details or use MoneyGeek ’ s pricing data as a guide to select indemnity company websites to shop on. MetLife, State Farm and Progressive are the three cheapest car insurance providers in New Mexico, and you can start by getting premiums from these firms .

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state New Mexico long time 30-65 drive criminal record clean accredit grade excellent Vehicle Type compress Vehicle year 2020 Liability Coverage state Min Comprehensive and Collision Insurance none sex female

Average Annual Auto Insurance Rates

Click the section of the steering wheel in your monetary value rate to see options. low end on average senior high school end Click your prefer price range to see company options. Click an insurance company below to visit their review page or continue to your individualized quotation mark. company median annual Rates 1 .MetLife $ 453 2 .State Farm $ 522

Cheapest Car Insurance for Drivers With a DUI in New Mexico

New Mexico drivers with a dangerous drive irreverence, such as a DUI, pose greater risks for insurers and pay higher rates as a resultant role. The median cost of car policy in New Mexico for drivers with a DUI is $ 2,125 per year, compared to $ 1,133 for the modal driver with a clean commemorate. The cheapest car insurance firms for a driver with a DUI and broad coverage in New Mexico are :

  • State Farm: $1,121 per year
  • Progressive: $1,329 per year

Although MetLife is the cheapest full coverage insurance company for New Mexico drivers with a clean phonograph record, State Farm, Progressive, Allstate and Farmers all have lower rates for those with a DUI .

Average Car Insurance Rates With a DUI
  • company annually monthly
  • 1 .State Farm $ 1,121 $ 93
  • 2 .Progressive $ 1,329 $ 111
  • 3 .Allstate $ 1,451 $ 121
  • 4 .Farmers $ 1,585 $ 132
  • 5 .MetLife $ 2,236 $ 186
  • 6. Allied $ 3,118 $ 260
  • 7 .GEICO $ 4,034 $ 336

1,085 people in New Mexico died from 2009-2018 in alcohol-related cable car accidents. 1 % of drivers in New Mexico admit to getting behind the rack after drinking excessively much within the last 30 days .
partially of your policy rate is determined by your driving history, including moving violations and DUI convictions. When it comes to DUI — or in New Mexico, DWI ( Driving While Intoxicated ) — it is important to understand that this international relations and security network ’ thyroxine always limited to alcohol use. Drug consumption while driving can besides earn you a DUI. In New Mexico, a DUI can earn you up to 90 days in imprison along with a $ 500 fine and a suspend license for up to one year. The above estimates showcase what drivers in New Mexico who have a DWI can expect to pay in car indemnity. In New Mexico, your driver ’ south license can be revoked for being charged with a DWI. If you are convicted of a fourth DWI, your license will be revoked for the rest of your life. typically speaking, a DUI or DWI has a significant impact on your car indemnity rates, even doubling rates in some cases, but there are some bum car indemnity options for people with a DUI in New Mexico. If you have a DUI on your record, you will want to get a quotation mark from multiple companies to make surely you are getting the lowest possible rates.

Cheapest Car Insurance in New Mexico for Drivers With an At-Fault Accident

In New Mexico, your driving history has a significant impact on car insurance costs. Drivers who have an at-fault accident on their record pay significantly higher rates at an average of $ 1,713 per year. For drivers with an at-fault accident, the cheapest car indemnity companies in New Mexico are :

  • State Farm: $1,121 per year
  • Allstate: $1,384 per year

meanwhile, the most expensive insurance company for a New Mexico driver with at-fault accidents is Allied, averaging $ 2,439 per class .

Cheapest Car Insurance With an At-Fault Accident
  • company annually monthly
  • 1 .State Farm $ 1,121 $ 93
  • 2 .Allstate $ 1,384 $ 115
  • 3 .MetLife $ 1,418 $ 118
  • 4 .Farmers $ 1,648 $ 137
  • 5 .Progressive $ 1,960 $ 163
  • 6 .GEICO $ 2,021 $ 168
  • 7. Allied $ 2,439 $ 203

According to the National Highway Traffic Safety Administration, there were 350 crashes in 2018 that were caused by distracted drive. The biggest cause of distract drive is using a cell phone while driving, but it besides includes people who are eating, putting on makeup or doing something early than focusing on the road while they drive. If you receive a slate for distract drive or speed, that will increase your indemnity rates. The chart above outlines what drivers in the state can expect to pay if they ’ ra penalized for perturb drive or speed. Some policy companies will allow you to avoid a rate increase by taking a safe drive course, but this international relations and security network ’ t cosmopolitan, so check with your insurance company if you receive a ticket while driving. If you aren ’ thymine able to remove the ticket from your record, the points will stay on your record for at least a year, possibly more. Earning 12 points in a year can get your license suspended for up to 12 months. New Mexico

Cheapest Car Insurance Companies in New Mexico for Drivers With Bad Credit

New Mexico drivers with poor recognition scores pay higher rates than those with thoroughly credit scores. The average cost of car indemnity for drivers with poor credit in New Mexico is $ 1,941 per year, $ 808 less than the typical driver pays. The most low-cost car insurance carriers for a driver with hapless recognition and entire coverage in New Mexico are :

  • Allstate: $1,358 per year
  • Progressive: $1,549 per year

While MetLife is the cheapest supplier of entire coverage policy for the average driver with full credit, Allstate ’ randomness costs are lower for those with badly credit .

Average Car Insurance Rates for Drivers With Bad Credit
  • company annually monthly
  • 1 .Allstate $ 1,358 $ 113
  • 2 .Progressive $ 1,549 $ 129
  • 3 .GEICO $ 1,839 $ 153
  • 4 .Farmers $ 1,849 $ 154
  • 5 .State Farm $ 1,919 $ 160
  • 6. Allied $ 2,136 $ 178
  • 7 .MetLife $ 2,886 $ 241

While it may seem odd to some, your credit seduce can have a obtrusive impact on your insurance rate. The impact your accredit sexual conquest can have on your premiums varies from company to company. The board above features estimates of what New Mexico drivers can expect to pay if they have poor credit. The argue your credit score impacts your rate is that policy companies see a higher credit pace as a sign of the zodiac you are more responsible and less probably to be in an accident and more probable to pay your premiums on fourth dimension. This factor means that one of the ways to reduce your indemnity premiums is to improve your credit sexual conquest. According to Experian, the average recognition score in New Mexico is 686, which is a healthy average.

Cheapest Car Insurance in New Mexico for Seniors

elder drivers in New Mexico typically pay slenderly more than young adults and middle-aged drivers. In this state, a aged driver needs to pay an median of $ 1,212 per year for their cable car indemnity, compared to $ 1,133 for the average 40-year-old driver. The cheapest car indemnity companies in New Mexico for senior drivers with wax coverage are :

  • MetLife: $864 per year
  • State Farm: $1,016 per year

These two providers besides offer the cheapest full coverage options for the median non-senior driver .

Average Car Insurance Rates for Seniors
  • company per annum monthly
  • 1 .MetLife $ 864 $ 72
  • 2 .State Farm $ 1,016 $ 85
  • 3 .Allstate $ 1,157 $ 96
  • 4 .Progressive $ 1,180 $ 98
  • 5 .Farmers $ 1,341 $ 112
  • 6 .GEICO $ 1,417 $ 118
  • 7. Allied $ 1,508 $ 126

traditionally, your insurance rates drop as you get older. With aged citizens, however, rates can sometimes increase as your sight worsens and your reaction time slows. While this may seem unfair or arbitrary, drivers 65 and older made up 15 % of all black dealings accidents in New Mexico in 2017. That percentage is hearty enough for indemnity companies to take into account when determining a person ’ second rate. The above estimates reflect what seniors in New Mexico may pay for their car policy. As you can see from the graph, policy rates vary from company to company for senior citizens. many insurance companies offer discounts for seniors who take safe drive courses, reduce their annual mileage or tug vehicles with certain guard features, which means you may be able to avoid an increase or even decrease your rates with the right rebate.

Cheapest Car Insurance in New Mexico for Young Drivers

Age is a boastfully component in the cost of car indemnity in New Mexico. Young drivers typically pay more for car policy since they are a higher-risk category due to inexperience. On average, a 16-year-old in New Mexico will pay $ 3,340 annually for car indemnity, while a 25-year-old will pay $ 1,157 per year. MoneyGeek found that the cheapest car insurance policy provider for adolescent drivers between the ages of 16–18 is Progressive, while the most low-cost option for drivers aged 19-25 is normally State Farm .

Annual Car Insurance In New Mexico for Young Drivers

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  • old age average monetary value Cheapest company company cost
  • 16

    $3,338

    Progressive

    $2,080

  • 17

    $3,123

    Progressive

    $2,080

  • 18

    $2,811

    Progressive

    $1,664

  • 19

    $2,933

    State Farm

    $2,134

  • 20

    $2,510

    State Farm

    $1,892

  • 21

    $2,111

    Allstate

    $1,641

  • 22

    $1,940

    State Farm

    $1,534

  • 23

    $1,635

    State Farm

    $1,392

  • 24

    $1,557

    Allstate

    $1,288

  • 25

    $1,129

    GEICO

    $1,107

Rates for adolescent drivers and students can be unique. not only are they rated based on a miss of driving experience, but everything from their grade point average to where their parents live can impact the monetary value of their indemnity. Since teens in New Mexico must hold a learner ’ mho allow for a minimal of six months, you have some time to review likely rates with multiple companies, such as the rates listed in the graph above.

Insurance Rate Information for Military Drivers and Veterans

New Mexico is home to many active-duty personnel and veterans. If you ‘re stationed in New Mexico or live there while away on military duty, car policy companies offer discounts for military members and veterans. For the best price comparison, get at least three quotes from licensed policy companies in New Mexico. If you ‘re from out of state suffice in New Mexico, you can choose either to drive a fomite legally registered in your home state or change over registration to New Mexico, potentially saving money by registering on-line. Disabled veterans get a 50 % reduction in the price of their vehicle plates upon showing proof of insurance and disability condition. New Mexico besides has a Heroes to Highways course of study that helps veterans conversion from active duty to civilian jobs requiring a commercial driver ‘s license. New Mexico besides allows active military personnel to keep a valid license even after it expires for up to 31 days after they return from service. The following are estimates of what active-duty personnel and veterans can expect to pay for car insurance in New Mexico .

Average Rates for New Mexico service members

male 25 years

$1,273

50 years

$1,018

female 25 years

$1,228

50 years

$1,014

Car Insurance in New Mexico: What You Need to Know

Everyone who drives in New Mexico must have car indemnity. If you are not driving your vehicle — say, it ‘s a classic harass that does n’t run, or it ‘s in storage — you can file an Affidavit of Non-Use with the Motor Vehicles Division ( MVD ) every class. Your vehicle wo n’t have policy, but you wo n’t face penalties american samoa long as you do n’t drive it .

Proof of Insurance in New Mexico

When you register your vehicle at the MVD, you will have to show proof of insurance with one of the trace :

  • A current auto insurance card
  • A copy of your current auto insurance policy
  • A letter from your auto insurance company (on company letterhead) that verifies your auto insurance coverage

New Mexico is now the only express that does n’t accept electronic proof of insurance on your smartphone, so carry your insurance poster or a copy of your policy with you while driving .

Minimum Liability Insurance Requirements in New Mexico

New Mexico ‘s minimum requirement for car indemnity coverage is :

  • $25,000 for bodily injury to one person
  • $50,000 for bodily injury per accident
  • $10,000 for property damage

If you cancel or fail to renew your policy policy, your insurance company must notify the MVD. If you don ’ deoxythymidine monophosphate want or can not get insurance, you can purchase a surety bond or make a cash deposit of $ 60,000 with the state treasurer rather of purchasing cable car indemnity. This money will cover liability expenses if you cause a car accident .

High-Risk Auto Insurance Program in New Mexico

The country established the New Mexico Motor Vehicle Insurance Plan to provide car indemnity to drivers who can not get coverage through the private insurance market because they are besides high a risk. New Mexico is a penis of the Western Association of Automobile Insurance Plans ( WAAIP ), which puts bad drivers in partake with an policy company that can insure them. insurance companies are required to insure bad drivers based on their marketplace share, which means that a ship’s company that insures 12 % of drivers in New Mexico must cover 12 % of all bad drivers in the submit .

How Much Coverage Do You Need in New Mexico?

If you own property or have other investments and you cause an accident, it is possible to lose everything in court to pay for the damages you caused. Having adequate indemnity to pay for damages is an significant part of protecting your assets. Most indemnity professionals and consumer groups recommend carrying minimal bodily liability insurance of $ 100,000 per person and $ 300,000 per accident. If you have a new car, you will likely want collision or comprehensive insurance. If you have a loanword on the car, your lender will credibly require it. Because New Mexico has many uninsured motorists, you may besides want to consider buying uninsured motorist indemnity, which will cover you if an uninsured driver hits your car.

Cheapest Car Insurance in New Mexico by City

car insurance in New Mexico can vary depending on where you live in the state. This is because factors like dealings concentration, incidences of cable car larceny and other risk factors can vary from city to city. In Albuquerque, drivers will pay an average of $ 1,133 annually or about $ 94 per month for full coverage car indemnity. You can check the average costs of cable car policy in your city by clicking on your city .

Average Insurance Rate by City in New Mexico

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  • City per annum monthly
  • 1 .Albuquerque $ 1,133 $ 94

FAQs About Car Insurance in New Mexico

hera are replies to some frequently asked queries about car insurance coverage and prices in New Mexico to help you make an educate choice .

MetLife is the most low-cost cable car insurance ship’s company in New Mexico, with an average annual pace of $ 441 for liability coverage. State Farm is the adjacent brassy option, and its average costs are $ 507 per year .

In New Mexico, the average rate of car indemnity is $ 1,133 per year or about $ 94 per month .

To minimize your car indemnity expenses, you can compare quotes from several unlike insurers to find the best manage. Increasing your deductible can besides decrease your premium .

Yes. In this department of state, the driver who causes the accident is the one creditworthy for paying the damages.

Expert Advice on Finding Cheap Car Insurance in New Mexico

To help you find trustworthy and accurate details on cable car indemnity in New Mexico, MoneyGeek received expert advice from established professionals. The views and sentiments shared are those of the individual contributor .

  1. What are the key factors drivers in New Mexico should look for when searching for the best car indemnity coverage ?
  2. What steps can drivers in New Mexico take to find low-cost car insurance ?
  3. How do regulations and rules in New Mexico shock indemnity price and how consumers might shop for coverage ?

Reilly WhiteReilly White Reilly White Associate Professor of Finance at the University of New Mexico

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guarantee you ‘re getting the best rate for your car indemnity. Compare quotes from the top insurance companies. widget-location-pin About the generatorexpert-profileexpert-profile Rachael Brennan is a professional finance writer and licensed policy agent. She has worked in the policy diligence for more than a decade, earning her P & C license in all 50 states and her life, health and AD & D license in New York and the surrounding states. Rachael has worked for well-known companies such as twenty-first Century Insurance and BlueCross BlueShield and was the unitarian Universalist Association ( UUA ) policy plans coordinator for three years. She specializes in property, casualty, health, life, accidental death and disability insurance. Rachael earned her bachelor of skill academic degree in communications from Texas A & M University-Commerce. Rachael combines her publish background with her insurance and personal finance feel to share practical cognition and help people make inform fiscal decisions.

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