Key Takeaways: The Cheapest Car Insurance in New Mexico

  • Central Mutual has the overall cheapest car insurance in New Mexico across a variety of driving records, based on the companies in our analysis.
  • Central Mutual and Geico have the overall cheapest car insurance in New Mexico for good drivers, based on the companies in our analysis.
  • New Mexico ranks eighth among our study of “The Riskiest States To Drive In,” due in part to having the third highest number of both fatal car accidents (51.99 per 100,000 licensed drivers) and people killed in fatal crashes (20.56 per 100,000 residents).
  • New Mexico also has the third highest number of both car thefts (603.25 per 100,000 vehicles) and drunk drivers involved in fatal crashes (16.43 per 100,000 licensed drivers), further contributing to its risky driving environment.

    • The Cheapest Car Insurance Companies in New Mexico for Good Drivers

    Cheapest for... Company Average monthly cost in New Mexico Learn more
    20-year-olds
    Central Mutual
    $196
    Via Forbes Advisor's Partner
    30-year-olds
    Central Mutual
    $143
    Via Forbes Advisor's Partner
    40-year-olds
    Central Mutual
    $131
    Via Forbes Advisor's Partner
    50-year-olds
    Central Mutual
    $127
    Via Forbes Advisor's Partner
    60-year-olds
    Central Mutual
    $132
    Via Forbes Advisor's Partner
    70-year-olds
    Nationwide
    $142
    Via Forbes Advisor's Partner
    80-year-olds
    Nationwide
    $161
    Via Forbes Advisor's Partner
    Average rates are based coverage of 100/300/100 ($100,000 of liability insurance for injuries to one person; $300,000 of liability insurance for injuries in one accident; $100,000 for property damage liability), uninsured motorist coverage, collision and comprehensive insurance with a $500 deductible, and any other insurance required in the state.
    Source: Quadrant Information Services.
    *In some cases USAA may be the cheapest company, but USAA auto insurance is available only to military members, veterans and their families.

    Cheap Car Insurance for 20-Year-Olds in New Mexico

    Young drivers in New Mexico can face high insurance costs, especially if you’re not on a parent’s auto insurance policy. In New Mexico, these insurers had the cheapest car insurance according to our analysis.

    Cheapest Full Coverage Car Insurance for 20-Year-Olds in New Mexico

    We found the cheapest rates from the following companies if you’re looking for a full coverage policy.

    1. Central Mutual: $196 a month
    2. Geico: $237 a month
    3. Progressive: $301 a month
    4. State Farm: $313 a month

    Cheapest Minimum Coverage for 20-Year-Olds in New Mexico

    If you’re looking for only the minimum auto insurance in New Mexico, check prices from these companies.

    1. Central Mutual: $47 a month
    2. Progressive: $75 a month
    3. Geico: $82 a month
    4. State Farm: $85 a month

    Cheapest Auto Insurance for 20-Year-Olds in New Mexico With Poor Credit

    Poor credit can cause a large increase in auto insurance rates compared to the same driver with good credit. We found these companies to have the cheapest costs in our analysis.

    1. Central Mutual: $351 a month
    2. Geico: $388 a month
    3. Kemper: $428 a month
    4. Progressive: $461 a month

    Cheapest Auto Insurance for 20-Year-Olds in New Mexico With a Speeding Ticket

    Expect a rate increase at renewal time if you have received a speeding ticket. In our analysis, these companies have the cheapest car insurance in New Mexico for drivers with a speeding ticket.

    1. Central Mutual: $241 a month
    2. Geico: $296 a month
    3. State Farm: $338 a month
    4. Progressive: $345 a month

    Cheapest Car Insurance in New Mexico for 20-Year-Olds With an At-Fault Accident

    Below are the cheapest options we found for New Mexico drivers who caused an accident that injured someone else.

    1. Mutual: $275 a month
    2. Geico: $353 a month
    3. Progressive: $361 a month
    4. State Farm: $367 a month
    5. Kemper: $400 a month

    Cheapest Auto Insurance for 20-Year-Olds in New Mexico After a DUI

    Shopping around for car insurance can be smart if you have a DUI on your record. We found these companies have the cheapest rates for drivers in New Mexico who have a DUI conviction.

    1. Progressive: $328 a month
    2. State Farm: $337 a month
    3. Central Mutual: $363 a month
    4. Kemper: $395 a month
    5. Geico: $400 a month

    Cheap Car Insurance for 30-Year-Olds in New Mexico

    Drivers age 30 in New Mexico can find very high insurance costs depending on their driving record. Here’s a look at the cheapest companies for a variety of common driving records.

    Cheapest Full Coverage Car Insurance for 30-Year-Olds in New Mexico

    We found the cheapest rates from the following companies if you’re looking for a full coverage policy.

    1. Central Mutual: $143 a month
    2. Geico: $150 a month
    3. Nationwide: $168 a month
    4. Progressive: $171 a month
    5. Kemper: $172 a month

    Cheapest Minimum Coverage for 30-Year-Olds in New Mexico

    If you’re looking for only the required auto insurance in New Mexico, check rates from these companies.

    1. Central Mutual: $27 a month
    2. Progressive: $34 a month
    3. Kemper: $41 a month
    4. State Farm: $42 a month

    Cheapest Auto Insurance for 30-Year-Olds in New Mexico With Poor Credit

    Poor credit can cause a significant increase in car insurance rates compared to the same driver with good credit. We found these companies to have the cheapest rates in our analysis.

    1. Kemper: $205 a month
    2. Geico: $244 a month
    3. Central Mutual: $252 a month
    4. Progressive: $265 a month
    5. Nationwide: $271 a month

    Cheapest Auto Insurance for 30-Year-Olds in New Mexico With a Speeding Ticket

    Brace yourself for a rate increase at renewal time if you have received a speeding ticket. In our analysis, these companies have the cheapest car insurance in New Mexico for drivers with a speeding ticket.

    1. Central Mutual: $171 a month
    2. State Farm: $191 a month
    3. Geico: $195 a month
    4. Kemper: $201 a month
    5. Progressive: $215 a month

    Cheapest Car Insurance in New Mexico for 30-Year-Olds With an At-Fault Accident

    Below are the cheapest insurers we found for New Mexico drivers who caused an accident that injured someone else.

    1. Central Mutual: $192 a month
    2. State Farm: $204 a month
    3. Kemper: $213 a month
    4. Geico: $232 a month
    5. Progressive: $253 a month

    Cheapest Auto Insurance for 30-Year-Olds in New Mexico After a DUI

    Comparing quotes for car insurance can be smart if you have a DUI on your record. We found these companies have the cheapest costs for drivers in New Mexico who have a DUI conviction.

    1. State Farm: $191 a month
    2. Progressive: $196 a month
    3. Kemper: $208 a month
    4. Central Mutual: $247 a month
    5. Geico: $270 a month

    Cheap Car Insurance for 40-Year-Olds in New Mexico

    New Mexico drivers age 40 can typically save significant money by comparing quotes from multiple insurers. We looked at which companies offer the best rates in New Mexico, depending on your driving record.

    Cheapest Full Coverage Car Insurance for 40-Year-Olds in New Mexico

    We found the cheapest rates from the following companies if you’re looking for a full coverage policy.

    1. Central Mutual: $131 a month
    2. Geico: $149 a month
    3. Progressive: $153 a month
    4. Nationwide: $157 a month
    5. Kemper: $159 a month

    Cheapest Minimum Coverage for 40-Year-Olds in New Mexico

    If you’re looking for only the required auto insurance in New Mexico, check quotes from these companies.

    1. Central Mutual: $24 a month
    2. Progressive: $30 a month
    3. State Farm: $42 a month
    4. Kemper: $43 a month

    Cheapest Auto Insurance for 40-Year-Olds in New Mexico With Poor Credit

    Poor credit can cause a large increase in car insurance rates compared to the same driver with good credit. We found these companies to have the cheapest rates in our analysis.

    1. Kemper: $189 a month
    2. Central Mutual: $229 a month
    3. Progressive: $238 a month
    4. Geico: $243 a month
    5. Nationwide: $255 a month

    Cheapest Auto Insurance for 40-Year-Olds in New Mexico With a Speeding Ticket

    Brace yourself for a rate increase at renewal time if you have received a speeding ticket. In our analysis these companies have the cheapest car insurance in New Mexico for drivers with a speeding ticket.

    1. Central Mutual: $156 a month
    2. State Farm: $186 a month
    3. Kemper: $188 a month
    4. Geico: $193 a month
    5. Progressive: $196 a month

    Cheapest Car Insurance in New Mexico for 40-Year-Olds With an At-Fault Accident

    Below are the cheapest insurers we found for New Mexico drivers who caused an accident that injured someone else.

    1. Central Mutual: $174 a month
    2. State Farm: $199 a month
    3. Kemper: $199 a month
    4. Geico: $229 a month
    5. Progressive: $232 a month

    Cheapest Auto Insurance for 40-Year-Olds in New Mexico After a DUI

    Shopping around for car insurance can be smart if you have a DUI on your record. We found these companies have the cheapest rates for drivers in New Mexico who have a DUI conviction.

    1. Progressive: $177 a month
    2. State Farm: $187 a month
    3. Kemper: $195 a month
    4. Central Mutual: $222 a month
    5. Geico: $272 a month

    Cheap Car Insurance for 50-Year-Olds in New Mexico

    New Mexico drivers in their 50s are enjoying the lowest rates they’ll get based on age. But an imperfect driving record can make cheap car insurance hard to find.

    Cheapest Full Coverage Car Insurance for 50-Year-Olds in New Mexico

    We found the cheapest rates from the following companies if you’re looking for a full coverage policy.

    1. Central Mutual: $127 a month
    2. Progressive: $140 a month
    3. Nationwide: $147 a month
    4. Kemper: $149 a month
    5. Geico: $153 a month

    Cheapest Minimum Coverage for 50-Year-Olds in New Mexico

    If you’re looking for only the required auto insurance in New Mexico, check prices from these companies.

    1. Central Mutual: $23 a month
    2. Progressive: $26 a month
    3. Kemper: $38 a month
    4. State Farm: $42 a month

    Cheapest Auto Insurance for 50-Year-Olds in New Mexico With Poor Credit

    Poor credit can cause a large increase in auto insurance rates compared to the same driver with good credit. We found these companies to have the cheapest rates in our analysis.

    1. Kemper: $178 a month
    2. Progressive: $218 a month
    3. Central Mutual: $222 a month
    4. Nationwide: $240 a month
    5. Geico: $250 a month

    Cheapest Auto Insurance for 50-Year-Olds in New Mexico With a Speeding Ticket

    Be prepared for a rate increase at renewal time if you have gotten a speeding ticket. In our analysis, these companies have the cheapest car insurance in New Mexico for drivers with a speeding ticket.

    1. Central Mutual: $151 a month
    2. Kemper: $179 a month
    3. State Farm: $180 a month
    4. Progressive: $181 a month
    5. Geico: $199 a month

    Cheapest Car Insurance in New Mexico for 50-Year-Olds With an At-Fault Accident

    Below are the cheapest options we found for New Mexico drivers who caused an accident that injured someone else.

    1. Central Mutual: $169 a month
    2. Kemper: $190 a month
    3. State Farm: $194 a month
    4. Progressive: $217 a month
    5. Geico: $233 a month

    Cheapest Auto Insurance for 50-Year-Olds in New Mexico After a DUI

    Comparing quotes for car insurance can be smart if you have a DUI on your record. We found these companies have the cheapest costs for drivers in New Mexico who have a DUI conviction.

    1. Progressive: $164 a month
    2. State Farm: $182 a month
    3. Kemper: $185 a month
    4. Central Mutual: $216 a month
    5. Allstate: $281 a month

    Cheap Car Insurance for 60-Year-Olds in New Mexico

    Car insurance quotes often begin to increase around age 65, even if you have a good driving record. We found the cheapest insurers for New Mexico drivers at age 60.

    Cheapest Full Coverage Car Insurance for 60-Year-Olds in New Mexico

    We found the cheapest rates from the following companies if you’re looking for a full coverage policy.

    1. Central Mutual: $132 a month
    2. Progressive: $135 a month
    3. Nationwide: $139 a month
    4. Kemper: $140 a month
    5. Geico: $148 a month

    Cheapest Minimum Coverage for 60-Year-Olds in New Mexico

    If you’re looking for only the required auto insurance in New Mexico, check quotes from these companies.

    1. Progressive: $25 a month
    2. Central Mutual: $25 a month
    3. Kemper: $38 a month
    4. State Farm: $39 a month

    Cheapest Auto Insurance for 60-Year-Olds in New Mexico With Poor Credit

    Poor credit can cause a steep increase in auto insurance rates compared to the same driver with good credit. We found these insurers to have the cheapest rates in our analysis.

    1. Kemper: $166 a month
    2. Progressive: $210 a month
    3. Nationwide: $228 a month
    4. Central Mutual: $230 a month
    5. Geico: $241 a month

    Cheapest Auto Insurance for 60-Year-Olds in New Mexico With a Speeding Ticket

    Brace yourself for a rate increase at renewal time if you have gotten a speeding ticket. In our analysis these companies have the cheapest car insurance in New Mexico for drivers with a speeding ticket.

    1. Central Mutual: $158 a month
    2. Kemper: $169 a month
    3. State Farm: $172 a month
    4. Progressive: $176 a month
    5. Geico: $192 a month

    Cheapest Car Insurance in New Mexico for 60-Year-Olds With an At-Fault Accident

    Below are the cheapest companies we found for New Mexico drivers who caused an accident that injured someone else.

    1. Central Mutual: $177 a month
    2. Kemper: $180 a month
    3. State Farm: $183 a month
    4. Progressive: $212 a month
    5. Geico: $224 a month

    Cheapest Auto Insurance for 60-Year-Olds in New Mexico After a DUI

    Comparing quotes for car insurance can be smart if you have a DUI on your record. We found these companies have the cheapest rates for drivers in New Mexico who have a DUI conviction.

    1. Progressive: $159 a month
    2. State Farm: $172 a month
    3. Kemper: $175 a month
    4. Central Mutual: $228 a month
    5. Allstate: $272 a month

    Cheap Car Insurance for 70-Year-Olds in New Mexico

    New Mexico drivers age 70 are getting higher rates due to age. But relatively cheap car insurance can still be found by comparing quotes from a few companies.

    Cheapest Full Coverage Car Insurance for 70-Year-Olds in New Mexico

    We found the cheapest rates from the following companies if you’re looking for a full coverage policy.

    1. Nationwide: $142 a month
    2. Progressive: $145 a month
    3. Central Mutual: $147 a month
    4. Geico: $149 a month
    5. State Farm: $166 a month

    Cheapest Minimum Coverage for 70-Year-Olds in New Mexico

    If you’re looking for only the minimum auto insurance in New Mexico, check quotes from these companies.

    1. Progressive: $27 a month
    2. Central Mutual: $31 a month
    3. State Farm: $42 a month
    4. Geico: $49 a month

    Cheapest Auto Insurance for 70-Year-Olds in New Mexico With Poor Credit

    Poor credit can cause a steep increase in car insurance rates compared to the same driver with good credit. We found these companies to have the cheapest rates in our analysis.

    1. Kemper: $202 a month
    2. Progressive: $224 a month
    3. Nationwide: $233 a month
    4. Geico: $243 a month

    Cheapest Auto Insurance for 70-Year-Olds in New Mexico With a Speeding Ticket

    Brace yourself for a rate increase at renewal time if you have received a speeding ticket. In our analysis, these companies have the cheapest car insurance in New Mexico for drivers with a speeding ticket.

    1. State Farm: $178 a month
    2. Central Mutual: $180 a month
    3. Geico: $194 a month
    4. Progressive: $194 a month

    Cheapest Car Insurance in New Mexico for 70-Year-Olds With an At-Fault Accident

    Below are the cheapest companies we found for New Mexico drivers who caused an accident that injured someone else.

    1. State Farm: $190 a month
    2. Central Mutual: $204 a month
    3. Kemper: $210 a month
    4. Geico: $230 a month

    Cheapest Auto Insurance for 70-Year-Olds in New Mexico After a DUI

    Shopping around for car insurance can be smart if you have a DUI on your record. We found these companies have the cheapest costs for drivers in New Mexico who have a DUI conviction.

    1. Progressive: $171 a month
    2. State Farm: $178 a month
    3. Kemper: $206 a month
    4. Central Mutual: $267 a month
    5. Allstate: $292 a month

    Cheapest Car Insurance In Albuquerque, New Mexico

    Cheapest for . . . Company Average monthly cost in Albuquerque Learn more
    Good drivers
    Central Mutual
    $149
    Via Forbes Advisor's Partner
    Drivers with a speeding ticket
    Central Mutual
    $181
    Via Forbes Advisor's Partner
    Drivers who caused an accident with injury
    Central Mutual
    $205
    Via Forbes Advisor's Partner
    Drivers with a DUI
    Progressive
    $199
    Via Forbes Advisor's Partner
    Driver with poor credit
    Kemper
    $231
    Via Forbes Advisor's Partner
    *In some cases USAA may be the cheapest company, but USAA auto insurance is available only to military members, veterans and their families.

    Cheapest Car Insurance In Las Cruces, New Mexico

    Cheapest for . . . Company Average monthly cost in Las Cruces Learn more
    Good drivers
    Geico
    $115
    Via Forbes Advisor's Partner
    Drivers with a speeding ticket
    Kemper
    $143
    Via Forbes Advisor's Partner
    Drivers who caused an accident with injury
    Kemper
    $151
    Via Forbes Advisor's Partner
    Drivers with a DUI
    Progressive
    $136
    Via Forbes Advisor's Partner
    Driver with poor credit
    Kemper
    $143
    Via Forbes Advisor's Partner
    *In some cases USAA may be the cheapest company, but USAA auto insurance is available only to military members, veterans and their families.

    Cheapest Car Insurance In Rio Rancho, New Mexico

    Cheapest for . . . Company Average monthly cost in Rio Rancho Learn more
    Good drivers
    Central Mutual
    $156
    Via Forbes Advisor's Partner
    Drivers with a speeding ticket
    Central Mutual
    $189
    Via Forbes Advisor's Partner
    Drivers who caused an accident with injury
    Central Mutual
    $214
    Via Forbes Advisor's Partner
    Drivers with a DUI
    Progressive
    $248
    Via Forbes Advisor's Partner
    Driver with poor credit
    Kemper
    $245
    Via Forbes Advisor's Partner
    *In some cases USAA may be the cheapest company, but USAA auto insurance is available only to military members, veterans and their families.

    Buy Cheap Car Insurance in New Mexico

    Cheap car insurance in New Mexico can be found with a few simple strategies. When cost is a goal, make sure you also are getting a policy that has enough coverage for your situation.

    Check Rates from Multiple Auto Insurance Companies

    A good way to get cheap car insurance in New Mexico is to compare insurance quotes from multiple companies. If you don’t have a range of quotes to consider, you won’t know if you’re getting a good price. Even if your driving record isn’t perfect, shopping around can show significant cost differences among insurers.

    Consider Switching Companies If Your Driving Record Changes

    Getting a ticket or causing an accident will usually result in an insurance rate increase. A company that offered cheap New Mexico car insurance for you previously may no longer be a smart option. In some cases you need to switch car insurance companies in order to score good rates again.

    Regularly Review Your Auto Insurance Policy

    You may be able to get savings by removing car insurance coverage you no longer need, such as roadside assistance or new car replacement coverage. If you haven’t taken a look at your auto policy in a long time, it may be a good time to review your policy.

    Rethink Your Deductible

    If you have collision and comprehensive insurance, you have a car insurance deductible. The deductible you choose affects your premiums and potential out-of-pocket expenses if your vehicle is damaged or stolen. Think about raising the deductible to get cheaper car insurance. Keep in mind that a larger deductible will mean you pay a higher portion of car repair costs if you make a claim.

    Keep an Eye on Car Insurance Discounts

    Every dollar saved can help you budget, making it wise to explore all available car insurance discounts. While some discounts are applied automatically during the quote process, ask about additional potential savings that your insurer may not know you qualify for. For example, you may have a high school or college student in your household who qualifies for a good student discount. Or if you no longer have a long commute and are driving fewer annual miles, you may be eligible for a lower car insurance rate.

    Capture Savings by Bundling

    The savings from bundling car insurance with other policies from the same insurance company is often significant. You can typically bundle New Mexico auto with homeowners insurance, condo or renters insurance. Our analysis found that the price break for bundling averages 14%.

    Optimize Your Insurance Payment Strategy

    Auto insurance companies often provide small discounts based on how you’re paying your New Mexico car insurance bill. Look for these discounts:

    • Paying for the entire policy term up-front.
    • Using EFT if you’re paying monthly.
    • Going paperless for both billing and policy documents.

    Methodology

    Except where otherwise noted, average rates are based on a female driver insuring a new RAV4 with coverage of 100/300/100 ($100,000 of liability insurance for injuries to one person; $300,000 of liability insurance for injuries in one accident; $100,000 for property damage liability), uninsured motorist coverage, collision and comprehensive insurance with a $500 deductible, and any other insurance required in the state. Average rates for cities are based on a 40-year-old female good driver with the above coverage. Source: Quadrant Information Services.

    Cheap Car Insurance Companies 2025

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