Car insurance in New Mexico is $41 per month for minimum coverage and $163 per month for full coverage, on average. The cheapest insurance companies in New Mexico are State Farm, Geico and Nationwide, and getting quotes from several companies can help you find the best deal.
Average Cost of Car Insurance in New Mexico by Category
- Clean driving record: $41 per month
- After an at-fault accident: $58 per month
- Driver with poor credit: $135 per month
- Teen driver: $111 per month
- After a DUI: $98 per month
The average cost of car insurance in New Mexico is 31% lower than the national average auto insurance premium, and New Mexico ranks 16 out of 50 for the most affordable car insurance rates in the U.S.. There are several factors that affect how much you’ll pay for car insurance in New Mexico, including your driving record, age, location, the amount of coverage that you purchase, and the insurance company you buy it from.
Finally, it’s worth noting that car insurance premiums in New Mexico are low, compared to the cost of coverage in neighboring states like Nevada and Arizona. You can find more details in the table below.
Cost of Car Insurance in New Mexico vs. Neighboring States
Note: Rates are an approximation based on a driver in New Mexico with minimum coverage. Actual rates will vary.
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