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The Best Car Insurance Companies in New Mexico

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    Reviews Report

    • USAA is the cheapest car insurance company in New Mexico with $368.18 premiums for state minimum coverage.
    • New Mexico has the fourth-highest number of uninsured drivers in the country.
    • The best New Mexico car insurance companies also include Allstate, State Farm, Geico, and Progressive.

    Like most states in America, car insurance is a legal requirement in New Mexico, but finding the best car insurance in the state is easier said than done. New Mexico drivers have access to lots of great car insurance companies, so we did some research to find the best ones.

    Based on our in-depth comparison, USAA, Allstate, State Farm, Geico, and Progressive offer the best New Mexico car insurance. These providers have affordable rates, great coverage options, good discounts, strong financial ratings, and helpful online tools and resources.

    The 5 Best Auto Insurance Companies in New Mexico

    • USAA: Best New Mexico Car Insurance for Military Members
    • Allstate: Best New Mexico Car Insurance for Add-On Coverage
    • State Farm: Best New Mexico Car Insurance for Low Premiums
    • Geico: Best New Mexico Car Insurance for Customer Satisfaction
    • Progressive: Best New Mexico Car Insurance for Discounts

    Compare the Best Car Insurance Companies in New Mexico

    Full Coverage Annual Premium* State Minimum Annual Premium* Reviews.com Score Score is based on company’s customer experience, financial stability, and coverage options. AM Best Financial Strength AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. J.D. Power Overall Customer Satisfaction** J.D. Power scores are based on surveys for customer satisfaction and product quality.
    Pin USAA $1,448.13 $368.18 4.8 A++863
    Pin Allstate $1,545.44 $621.24 4 A+822
    Pin State Farm $1,549.84 $389.42 4.8 A++847
    Pin Geico$1,842.71 $453.04 4.2 A++827
    Pin Progressive $1,921.02 $558.504.4A+835

    Information accurate as of July 2021

    * Data provided by Coverage.com

    **J.D. Power 2021 Auto Insurance Satisfaction Study for the Southwest region. Based on a 1,000-point scale.

    USAA

    Best New Mexico Car Insurance for Military Members

    Why we chose it

    USAA is one of the best car insurance companies in New Mexico because it offers affordable and top-rated car insurance policies to members of the military, their spouses, and children.
    • 4.8 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • $368.18* Average Premium Pricing data comes from our partners at Coverage.com.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 863** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    USAA is one of the best car insurance companies in New Mexico because it offers affordable and top-rated car insurance policies to members of the military, their spouses, and children.

    Pros

    • Highly rated customer satisfaction
    • Lowest premiums in New Mexico
    • Close to a dozen discounts

    Cons

    • Only available to active and retired military members
    • Very few branch locations
    • Fewer endorsements than some of its competitors
    Read More

    Additional Coverage

    • Personal injury protection
    • Extended benefits coverage
    • Roadside assistance
    • Rental car reimbursement
    • Accident forgiveness

    Discounts Available

    • Safe driver
    • Defensive driving course
    • Driver training course
    • Good student
    • New vehicle
    • Annual mileage
    • Vehicle storage
    • Family discount
    • Length of membership
    • Military installation
    • Policy bundling

    More USAA Insurance Reviews

    Allstate

    Best New Mexico Car Insurance for Add-On Coverage

    Why we chose it

    Allstate offers a wide variety of endorsement policies like sound system coverage and new car replacement, which makes it a good option for drivers who want to build a policy that meets their personal coverage needs.
    • 4 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • $621.24* Average Premium Pricing data comes from our partners at Coverage.com.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 822** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Allstate offers a wide variety of endorsement policies like sound system coverage and new car replacement, which makes it a good option for drivers who want to build a policy that meets their personal coverage needs.

    Pros

    • Unique endorsements available
    • Above-average customer satisfaction rating
    • Over a dozen discounts available

    Cons

    • Higher-than-average premiums
    • High number of company complaints
    • Fewer online tools and resources than other providers
    Read More

    Additional Coverage

    • Sound system insurance
    • Roadside assistance
    • Personal injury protection
    • Personal umbrella policy
    • Rental reimbursement 
    • Rideshare insurance
    • Milewise program
    • New car replacement
    • Accident forgiveness

    Discounts Available

    • Drivewise program
    • New car
    • Multi-policy
    • Smart student
    • Anti-lock brakes
    • Anti-theft device
    • Early signing
    • Responsible payer
    • Smart student
    • Automatic payments
    • Paperless statements
    • Pay in full
    • Safe driving club
    • Allstate rewards
    • Deductible rewards

    More Provider Insurance Reviews

    State Farm

    Best New Mexico Car Insurance for Low Premiums

    Why we chose it

    Drivers who insure their vehicles with State Farm may be able to enjoy the cheapest car insurance in New Mexico with State Farm’s average premiums of $389 for minimum coverage.
    • 4.8 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • $389.42* Average Premium Pricing data comes from our partners at Coverage.com.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 847** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Drivers who insure their vehicles with State Farm may be able to enjoy the cheapest car insurance in New Mexico with State Farm’s average premiums of $389 for minimum coverage.

    Pros

    • Impressive financial strength
    • Above-average claims satisfaction ratings
    • Over a dozen discounts available

    Cons

    • Fewer add-on coverages than competitors
    • Extremely high number of company complaints
    Read More

    Additional Coverage

    • Rental car and travel expenses coverage
    • Roadside assistance coverage
    • Rideshare driver coverage

    Discounts Available

    • Drive Safe and Save program
    • Steer Clear program
    • Accident-free
    • Defensive driving course
    • Good student
    • Good driver
    • Driver training course
    • Student away at school
    • Vehicle safety
    • Passive restraint
    • Anti-theft system
    • Multi-policy
    • Multi-vehicle

    More Provider Insurance Reviews

    Geico

    Best New Mexico Car Insurance for Customer Satisfaction

    Why we chose it

    In J.D. Power’s Auto Insurance Satisfaction Study, Geico scored the highest in the Southwest region with 834 points out of 1,000.
    • 4.2 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • $453.04* Average Premium Pricing data comes from our partners at Coverage.com.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 827** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    In J.D. Power’s Auto Insurance Satisfaction Study, Geico scored the highest in the Southwest region with 834 points out of 1,000.

    Pros

    • High customer satisfaction ratings
    • More discounts than some competitors
    • Strong financial ratings from AM Best

    Cons

    • Below-average claims satisfaction
    • Limited coverage options
    • Some discounts may be difficult to qualify for
    Read More

    Additional Coverage

    • Personal injury protection
    • Roadside assistance
    • Rental car reimbursement
    • Mechanical breakdown coverage

    Discounts Available

    • Air-bag
    • Anti-lock brakes
    • Anti-theft system
    • Daytime running lights
    • New vehicle
    • Good driver
    • Seat belt use
    • Defensive driving course
    • Driver’s ed course
    • Good student
    • Emergency deployment
    • Federal employee
    • Employee and membership 
    • Military
    • Multi-policy
    • Multi-vehicle

    More Provider Insurance Reviews

    Progressive

    Best New Mexico Car Insurance for Discounts

    Why we chose it

    Progressive offers a long list of discounts that can help New Mexico drivers lower their auto insurance premiums.
    • 4.4 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • $558.50* Average Premium Pricing data comes from our partners at Coverage.com.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 835** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Progressive offers a long list of discounts that can help New Mexico drivers lower their auto insurance premiums.

    Pros

    • Wide variety of discounts
    • Variety of add-on policies for customization
    • Some of the best online tools in the industry

    Cons

    • Average customer service ratings
    • Some discounts not offered in certain states
    • One of the lowest claims satisfaction ratings from J.D. Power
    Read More

    Additional Coverage

    • Accident forgiveness
    • Gap insurance
    • Rental car reimbursement
    • Custom parts and equipment
    • Rideshare insurance
    • Roadside assistance

    Discounts Available

    • Multi-policy
    • Multi-car
    • Continuous insurance
    • Safe driver
    • Teen driver
    • Good student
    • Distant student
    • Homeowner
    • Online quote
    • Sign online
    • Paperless statements
    • Pay in full
    • Automatic payments
    • Deductible savings bank
    • Claims-free

    More Provider Insurance Reviews

    * Data provided by Coverage.com, price based on the state minimum required policy.

    **J.D. Power 2021 U.S. Auto Insurance Study rating for the Southwest region. Based on a 1,000-point scale.

    The Average Cost of Car Insurance in New Mexico

    The average cost of car insurance in New Mexico is $370 for a minimum coverage policy and $1,374 for a full coverage policy, which is cheaper than the average rate in the United States, which is $1,555 per year for full coverage. Rates in New Mexico are also cheaper than in neighboring states, like Arizona ($1,517) and Colorado ($1,720).

    One of the biggest factors that impact car insurance quotes in New Mexico is the state’s high number of uninsured drivers. As of 2019, nearly 22% of drivers in New Mexico did not carry car insurance, even though it’s legally required. However, keep in mind that every driver pays a different rate for car insurance based on personal factors like age, credit score, and claims history.

    Top 3 Cheapest Car Insurance Companies in New Mexico

    Drivers looking for cheap car insurance in New Mexico have several good options. We compared and researched the cheapest car insurance providers in the state and their average annual minimum coverage premiums.

    CompanyAverage Annual Premium
    USAA$368.18
    State Farm$389.42
    Geico$453.04

    * Data provided by Coverage.com, price based on the state minimum required policy.

    Top 3 Most Expensive Car Insurance Companies in New Mexico

    CompanyAverage Annual Premium
    Allstate$621.24
    Progressive$558.50
    Iowa Farm Bureau Group$529.04

    * Data provided by Coverage.com, price based on the state minimum required policy.

    Top 3 Cheapest Cities for Car Insurance in New Mexico 

    New Mexico car insurance rates are not standardized across the entire state. Your city and zip code will also impact your premium. We used data from Coverage.com to find the cheapest cities for car insurance in New Mexico, and the average rate in the city for minimum coverage:

    CityAverage Annual Premium*
    Silver City$453.12
    Deming$454.34
    Socorro$458.99

    * Data provided by Coverage.com, price based on the state minimum required policy.

    Top 3 Most Expensive Cities for Car Insurance in New Mexico

    CityAverage Annual Premium*
    South Valley$766.93
    Albuquerque$733.04
    Rio Rancho$693.13

    * Data provided by Coverage.com, price based on the state minimum required policy.

    New Mexico Car Insurance: What You Need to Know

    Before you purchase car insurance in New Mexico, there are a few things to be aware of, like the state’s recent accident data. These factors can help you decide how much car insurance you need, and what type of coverage is right for you. Here are a few things to consider before buying car insurance in New Mexico:

    • New Mexico has the fourth-highest number of uninsured drivers in the country. 
    • In 2019, one car accident occurred every 11 minutes in New Mexico, with an average of 132 crashes each day.
    • 30% of crashes in New Mexico resulted in at least one injury in 2019.

    New Mexico Minimum Insurance Requirements

    New Mexico auto insurance requirements are represented as 25/50/10, which includes personal liability coverage. Every state has different insurance requirements, both for the type of coverage and the amount of coverage. 

    Here are the minimum coverages required in New Mexico:

    • $25,000 bodily injury coverage per person
    • $50,000 bodily injury coverage per accident
    • $10,000 property damage coverage per accident

    New Mexico’s At-Fault Law 

    New Mexico is an at-fault state, which means after an accident, the at-fault driver’s insurance company is responsible for compensating the other driver for their injuries and vehicle damage.

    However, there are about a dozen states that follow no-fault laws, in which a driver’s insurance company will pay for their own injuries and property damage, regardless of who caused the accident. In no-fault states, drivers have to carry personal injury protection (PIP), which is not required in New Mexico.

    Additional Car Insurance Coverage in New Mexico

    New Mexico drivers are only required to carry personal liability insurance. However, there are a few other coverages that drivers should consider purchasing for added protection.

    • Collision insurance: Collision insurance pays for your vehicle’s repairs after a covered accident that you cause.
    • Comprehensive insurance: Comprehensive insurance pays for your vehicle’s repairs if it gets damaged in a non-collision incident, like a fire, flood, theft, or vandalism.
    • Uninsured/underinsured motorist coverage: Uninsured/underinsured motorist coverage pays for your losses if you get hit by a driver who doesn’t have insurance or doesn’t have enough coverage to pay the full claim. 
    • Medical payments coverage: Medical payments coverage reimburses you for the cost of your and your passenger’s medical expenses if you cause an accident.

    New Mexico Car Insurance FAQ 

    Methodology 

    Reviews.com scores products, services, and companies using five quantifiable criteria to help readers choose the best one for them. For the best car insurance in New Mexico, our editorial team compared affordability, customer support, coverage options, customer satisfaction scores, and online resources from each company and averaged the scores to produce our very own Reviews.com score. These scores were created with our readers in mind and are meant to be a helpful tool to simplify the process of choosing which car insurance company is best for you. 

    As for average pricing, we used Coverage.com’s data of car insurance in New Mexico, based on the profiles of a 30-year male and female. For full coverage, the details used were the following:

    • $100K bodily injury liability per person
    • $300K bodily injury liability coverage per crash
    • $100K property damage liability coverage per crash
    • $500 collision coverage deductible
    • $500 comprehensive coverage deductible

    Minimum coverages were applied to match state requirements. Both drivers used a new, financed 2018 Toyota Camry, commuting five days a week and driving 12,000 miles per year. Since auto insurance rates vary widely among different profiles, we encourage you to compare options that fit your specific needs.

    About the Authors

    Elizabeth Rivelli

    Elizabeth Rivelli Contributing Writer

    Elizabeth Rivelli is an insurance writer for Reviews.com. Over the last year, she has covered insurance providers, best policies, industry trends and more. Elizabeth has been featured in The Simple Dollar, Bankrate and Coverage.com, among others. She holds a bachelor's degree in Communication Studies from Northeastern University in Boston, MA. The Best Term Life Insurance Companies is Elizabeth’s favorite review on Reviews.com.

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