Cheapest Car Insurance in New Mexico
Numbers refreshed
Where New Mexico publishes rates, insurers are ranked by price, and you can learn ways to cut your own bill.
- $56.That's the monthly average for the legal minimum.
- 25/50/10.the minimum liability limits.
- 24th of 51.the most expensive state (1st = highest).
Which insurer is cheapest in New Mexico
Because New Mexico doesn't publish a price comparison of insurers, official figures can't rank every company there. On average, the cheapest legal policy runs $669 a year, which is about $56 a month (NAIC).
Get quotes from at least three insurers using the same limits and deductibles. For one driver, prices often differ a lot depending on whether you buy from a direct writer, a local agent or a regional company.
How to pay less
- Keep the state minimum only on an old car you could replace with cash: dropping collision and comprehensive saves $753 a year on the New Mexico average.
- Raise your deductible; the extra you'd pay in one claim is often smaller than what you save in a year.
- Ask for each discount by name: safe-driving apps, paying in full, good student, multi-car, bundling home and auto.
- When your policy renews, compare prices again; one company's increase doesn't mean the others went up too.
First written