Car Insurance in New Mexico
Figures updated
In New Mexico, details on drivers' costs, the legal minimum and who has the lowest price.
- $118.the average monthly cost of full coverage.
- 25/50/10.the minimum liability limits.
- 24th of 51.the most expensive state (1st = highest).
How much car insurance costs in New Mexico
In New Mexico, full coverage costs an average of $1,422 each year, or about $118 monthly. Policies that carry just the legal minimum average $669 a year. The US average is $1,613 a year, so this amount is 12% lower.
| Coverage in New Mexico | Per year | Per month |
|---|---|---|
| Liability | $669 | $56 |
| Collision | $459 | $38 |
| Comprehensive | $294 | $25 |
| Full coverage (all three) | $1,422 | $118 |
Source: NAIC 2024 Auto Insurance Database Average Premium Supplement (PDF).
New Mexico's legal minimum
Drivers need at least 25/50/10 liability coverage in New Mexico. Limits provide $10,000 for damage to property owned by other people, $25,000 for each person hurt and $50,000 for all people injured in one crash.
Under New Mexico's at-fault rules, the driver responsible for a crash pays with their liability coverage.
You don't have to carry uninsured motorist coverage, though insurers must offer it in most states.
How many drivers in New Mexico have no insurance?
In 2023, about 24% of New Mexico drivers had no car insurance. This was the 2nd highest share among the 51. If one of them hits you, uninsured motorist cover pays your bills.
More about car insurance in New Mexico
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