The city in New Mexico with the least expensive auto insurance premiums is Alamogordo, which has an average annual premium of $1,036 per year. By comparison, the average cost of car insurance in New Mexico overall is $1,042 per year.
Cheapest Cities for Car Insurance in New Mexico
Alamogordo: $1,036 per year
Deming: $1,072 per year
Silver City: $1,076 per year
Aztec: $1,110 per year
Some cities in New Mexico have cheaper car insurance premiums than others because insurance companies take a driver's ZIP code into account when calculating their premium, alongside other factors. For example, drivers who live in dense urban areas typically pay more for coverage than drivers in rural areas because they're more likely to get into an accident. And if an area has a particularly high theft rate, car insurance may be more expensive due to the risk of vehicles being stolen.
Yes, ZIP codes affect car insurance premiums. Drivers in the most expensive ZIP codes in New York and California, for example, pay an average of about $3,500 more per year for full-coverage car insurance than drivers in the least expensive areas of those states. And drivers in the most expensive states for car insurance, like New York, can expect to pay at least $700 more per year for minimum coverage than drivers in the least...
To find out if you still need an SR-22, contact your local DMV office and ask if your SR-22 form has been filed for the required period of time. If it has, you can then contact your car insurance company and request that they remove your SR-22 filing with the state. Each state has its own requirements, but you usually only need an SR-22 for about three years.
Drivers in New Mexico need $25,000 of bodily injury liability insurance per person (up to $50,000 per accident) and $10,000 of property damage liability insurance. Collision, comprehensive and gap insurance may also be required by a lender or lessor if your vehicle is financed.
In addition, an optional but recommended type of coverage in New Mexico is uninsured/underinsured motorist insurance. It replaces the liability coverage an at-fault driver should’ve had and pays for your costs up to your policy...
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