McKayla Girardin, Car Insurance Writer
@mckayla_girardin
Car insurance for a new driver in New Mexico costs an average of $750 per year to $2,439 per year. Auto insurance premiums for new drivers in New Mexico vary widely depending on a driver's age and whether they are being added to an existing policy or purchasing their own. For example, the premium increase from adding a teenager to a parent's policy is significantly less than the cost of a teenager getting their own policy.
Average Cost of Car Insurance for New Drivers in New Mexico
Company | Monthly Cost | Annual Cost |
$74 per month | $893 per year | |
$89 per month | $1,064 per year | |
$98 per month | $1,180 per year | |
$107 per month | $1,279 per year | |
$145 per month | $1,743 per year |
Note: Premiums are representative of a 16-year-old good driver with a minimum coverage policy; individual premiums will vary.
New drivers aren't only teens and those in their early 20's. A new driver could be an adult who got their license later in life, a recent immigrant, or anyone who has a long gap in their driving or insurance history. For these types of new drivers in New Mexico, insurance rates will still likely be higher than the average of $41 per month per month for an experienced adult.
A new driver's lack of experience can classify them as high risk. Once new drivers get a bit more practice and have a proven track record of safe driving, however, they'll begin to see their rates decrease.
To learn more about minimizing the cost of car insurance in New Mexico, check out WalletHub's picks for the cheapest New Mexico car insurance companies.
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How Much Car Insurance Drivers Need in New Mexico
| Coverage Type | Minimum Coverage Limit |
| Bodily Injury Liability Coverage... | $25,000 |
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