New Mexico drivers can find low auto insurance rates if they know where to look.

 

 

Like nearly every state in the country, New Mexico requires all drivers to have car insurance. In this review, we’ll help you find the best New Mexico car insurance provider for your vehicle and budget. We’ll also explain state minimum coverage requirements and review average car insurance rates in the Land of Enchantment.

Our review team ranked the best car insurance companies in the nation based on coverage, industry standing, availability, costs, and more. Now, we’ve used the same criteria to determine the top providers in New Mexico.

If you’re trying to find the cheapest auto insurance in New Mexico, the best thing to do is request free quotes from multiple providers. You can get started right away by entering your zip code below.

 

In this article:

5 Best New Mexico Car Insurance Companies

The table below shows our top five picks for New Mexico car insurance. Many of our highest-rated national providers made the list. Every company mentioned below performed well in the J.D. Power 2020 U.S. Auto Insurance Satisfaction StudySM for the Southwest region, which includes Arizona, Colorado, Nevada, New Mexico, and Utah.

Best New Mexico Auto Insurance Motor1 Rating Customer Service Affordability Coverage
1. Geico Car Insurance 4.5 4.0 4.0 4.0
2. USAA Car Insurance 5.0 5.0 4.5 4.5
3. The Hartford Auto Insurance 4.0 3.5 4.0 4.5
4. Allstate Auto Insurance 4.0 3.5 3.0 4.0
5. State Farm Car Insurance 4.5 3.5 4.0 4.0
 

*You may notice that some car insurance companies are listed above those with higher star ratings. This is because our star ratings take into account nationwide factors, while our ranking looks specifically at what insurance providers are best for car insurance in New Mexico.

 


 

#1 Geico: Best Overall Provider

Geico Insurance logo

Geico’s low rates and consistently high customer satisfaction marks helped it earn our recommendation as the best overall provider in the U.S. We also named it the best provider for New Mexico drivers because of its strong performance in the J.D. Power Satisfaction Study for the Southwest region. In the study, Geico tied for first place, scoring 834 out of a possible 1,000 points. It tied with American Family Insurance, which is not available to drivers in New Mexico.

Geico also scores well by national satisfaction metrics. It holds an A+ rating from the Better Business Bureau (BBB) and many positive customer reviews. It’s also rated A++ for financial strength by AM Best, meaning it has the financials to back its policies. And filing claims is quick and easy using the Geico claims mobile app.

Geico doesn’t just offer strong service, but also low-cost policies. Geico has numerous discounts, such as:

  • Multiple policy discount
  • Multiple vehicle discount
  • Federal employee discount
  • Safety features discount
  • Good student discount
  • Good driver discount
  • Military discount
  • Defensive driving discount

Based on our research, Geico is the best place to start shopping for New Mexico car insurance policies.

Geico Pros Geico Cons
A+ rating from the BBB
and A++ financial strength rating from AM Best
Average quotes experience
Many choices for coverage  
High level of customer satisfaction  
Easy-to-use Geico mobile app  
 

Learn more about the company by reading our full Geico review.

 


 

#2 USAA: Best For Military

USAA Insurance logo

USAA actually scored higher than Geico in the J.D. Power Satisfaction Study for the
Southwest region, with a total of 876 out of 1,000 points. However, it is not eligible for ranking because it is not available for all drivers. USAA membership is restricted to military members and their immediate families. If you do not meet either of these criteria, you will need to search for an insurance policy elsewhere.

The limited availability is one of the reasons we ultimately rate Geico higher than USAA for New Mexico car insurance. However, if a USAA policy is available for you, it should be your first consideration. Drivers who choose USAA often pay the lowest premiums, especially if they are able to take advantage of USAA’s discount opportunities, which include:

  • Annual mileage discount: Drivers over the age of 19 can receive a discount for driving a low number of miles each year.
  • Good student discount: Full-time students with a GPA of at least 3.0 receive a discount.
    New vehicle discount: You’ll receive a discount for insuring vehicles that are less than three years old.
  • Automatic payment discount: You’ll earn up to three percent off for scheduling automatic payments.
  • Family discount: If you have family members who are also insured through USAA, you can receive premium reductions.
  • Military garaging discount: Drivers who store their vehicles on a military base receive up to 15 percent off comprehensive coverage.
  • Premier driver discount: A discount is provided to drivers that go without an accident or ticket for five years.
  • Defensive driving discount: A discount is offered to drivers that complete a defensive driving course.
  • Driver training discount: Drivers under the age of 21 can receive a discount by taking a driver training course.

USAA has an A++ financial strength rating from AM Best, indicating a superior ability to pay out customer claims.

USAA Pros USAA Cons
Affordable rates and numerous discounts Only available for military and their families
Good option for military and young drivers  
Superior financial strength rating from AM Best  
 

To learn more information about this provider, read our full USAA insurance review.

 


 

#3 The Hartford: Best For Older Drivers

The Hartford Insurance logo

Like USAA, The Hartford insurance is not available to everyone. To enroll in a policy from The Hartford, potential customers must have an AARP membership. To those who are AARP members, The Hartford may offer the lowest rates for New Mexico car insurance.

The company does well in terms of customer satisfaction. It holds an A+ rating from the BBB and has a 4.8 out of 5.0-star rating on Trustpilot. New Mexico drivers also seem to appreciate The Hartford’s service and claims processes, as it scored 829 out of 1,000 points in the J.D. Power Satisfaction Study for the region, putting it in fourth place overall and above the regional average of 827.

We also recommend The Hartford because of its variety of plan benefit options, which include

  • 24-hour roadside assistance plans
  • Legal representation for accidents
  • Customer repair service program
  • No-deductible windshield repair service
  • Emergency expense coverage
  • Disappearing collision deductible
  • Accident forgiveness
  • Deductible waiver

Plans offered by The Hartford come with a lifetime renewability guarantee, which means that once you have an insurance policy in place, you can never be denied coverage as long as you continue to pay your premiums and maintain a valid driver’s license.

The Hartford Pros The Hartford Cons
Variety of plan options High rates for young drivers
Rate locked for 12 months AARP membership required
Lifetime renewability  
Discounted rates for people over age 50  
 

Read our full Hartford insurance review to learn more.

 


 

#4 Allstate: Superior Local Service

Allstate Insurance logo

Allstate works through a network of local agents to provide coverage, which is likely one of the reasons it did so well in the J.D. Power Satisfaction Study for the region. It ultimately ranked third, behind Geico and American Family. With a score of 830 out of 1,000, it did better than the regional average of 827.

While our research indicates that, on average, Allstate tends to be more expensive than some of our other recommendations, this isn’t the case for all customers. Those who can take advantage of Allstate’s many discounts may be able to get excellent New Mexico car insurance without paying a significantly higher rate. Allstate discounts include:

  • Multiple policy discount
  • Multiple vehicle discount
  • New vehicle discount
  • Good student discounts for drivers under 25
  • Safety features discount
  • Anti-theft device discount
  • Early signing discount
  • Automatic payment discount
  • Paperless billing discount
  • Pay-in-full discount
  • Safe driving discount

If you don’t drive very often, Allstate may be a good choice because of its Drivewise program. This program offers mileage-based discounts and rewards policyholders based on driving data collected through a plugin device. Just signing up for the program comes with a three-percent policy discount.

Allstate Pros Allstate Cons
Works through a network of local agents to provide coverage Can be expensive
Superior financial strength rating by AM Best and A+ rating with the BBB Mixed customer service reviews
Mileage-based discount program  
 

Learn more about this company by reading our full Allstate insurance review.

 


 

#5 State Farm: Best For Students

State Farm Insurance logo

Young drivers looking for New Mexico car insurance coverage would do well to consider a State Farm policy. Based on our research, it’s the best insurer for students because of its many discount offers, such as:

  • Safe driving discounts: Gives a discount for having a clean driving record with no accidents or moving violations for three years
  • Driver training discount: Gives a discount for completing a defensive driving course or a driver’s education course
  • Student discounts: Offers discounts to students away at school as well as students with good grades
  • Safe vehicle discounts: Provides discounts for vehicles that have modern safety features and anti-theft mechanisms
  • Loyalty discounts: Provides up to 20 percent off for insuring multiple vehicles and 17 percent off for bundling your home and auto insurance policies

While State Farm did not rate as highly for the region in the J.D. Power Satisfaction Study, it still made a strong showing, ending up in fifth place overall with 826 out of 1,000 points. State Farm does score well according to other customer review metrics. For example, it holds an A+ rating from the BBB.

State Farm Pros State Farm Cons
Comprehensive coverage offerings Reported errors with autopay
Extensive selection of discounts  
Positive customer reviews  
Easy online quotes process  
A+ rating from the BBB  
 

Learn more about this company by reading our full State Farm insurance review.

 


 

New Mexico Car Insurance Requirements

New Mexico car insurance requirements state that all drivers maintain a 25/50/10 liability insurance policy. This means:

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

New Mexico is an at-fault state. This means that if you are responsible for an accident, your insurance provider will not cover damages to your vehicle unless you have a comprehensive car insurance policy. It is also a good idea for drivers to maintain medical coverage, collision, and uninsured/underinsured motorist coverage, though these are not required by New Mexico state law.

Driving without the state minimum insurance is illegal and can result in the following penalties in New Mexico:

  • First offense: Receive a fine up to $300, imprisonment up to 90 days, and suspension of registration
  • Second offense: Receive a fine up to $1,000, prison up to 6 months, and suspension of registration

In addition to legal consequences, your personal assets could be in danger if you get into an accident and are uninsured. Because New Mexico is not a no-fault state, the other driver could sue you for damages if you are uninsured or if your insurance does not pay the full cost of damages, repairs, and medical bills.

 


 

Cost Of New Mexico Car Insurance

Car insurance rates are different for each individual, as they’re based on factors such as your age, marital status, driving records, gender, and location. Average rates tend to vary from state to state. Looking at state averages will not tell you exactly how much your New Mexico car insurance will cost, but it can give you an idea of how expensive it is relative to other states.

The following table shows the average car insurance payments for the most common types of car insurance in New Mexico, as collected in 2017 by the National Association of Insurance Commissioners (NAIC).

Type of Coverage Average Annual Expenditure
Liability coverage $548.33
Collision coverage $304.46
Comprehensive coverage $197.95
Total cost $870.23
 

*To calculate average expenditures, NAIC assumed that all insured vehicles would carry liability coverage but not necessarily collision or comprehensive. Total cost per year measures what consumers actually spent.

The average cost of car insurance in New Mexico is lower than the nationwide average, which was $1,004.68 in 2017.

 


 

What To Know About Driving In New Mexico

Based on data collected by the Insurance Institute for Highway Safety (IIHS), New Mexico drivers traveled an average of 18,710 miles per licensed driver in 2018. This is more than in most states and may be one of the reasons that the state has a higher-than-average rate of auto fatalities.

The study found that there were 391 auto deaths in New Mexico in 2018, which was 18.7 deaths per 100,000 people living in the state. This is much higher than the national average of 11.2 deaths per 100,000 people.

Be careful when driving in New Mexico. Don’t drive while tired or intoxicated, always wear your seatbelt, and be prepared for driving on desert roads.

 


 

Final Thoughts

For New Mexico car insurance, we recommend drivers look into policies from Geico, USAA, The Hartford, Allstate, and State Farm. Each of these providers offers low rates for the area, and all performed well in regional customer satisfaction surveys.

Of course, if you’re looking for the lowest possible rate, the only way to find it is to compare personalized quotes. Use the free tool below to get started.

 

 

FAQ: New Mexico Car Insurance

 

Who has the cheapest car insurance in New Mexico?

While there is no single cheapest provider for every driver in New Mexico, we’ve found that Geico, USAA, The Hartford, Allstate, and State Farm all offer low rates for New Mexico auto insurance. However, rates are determined individually, and the only way to find the lowest-cost coverage for you is to compare car insurance quotes from multiple providers.


What is the minimum auto insurance coverage in New Mexico?

The minimum required auto insurance coverage in New Mexico is a 25/50/10 liability insurance policy. This means that New Mexico drivers are required to carry $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident, and $10,000 property damage liability per accident.


Is New Mexico a no-fault insurance state?

New Mexico is not a no-fault insurance state. This means that if you are found at fault for an accident, you’ll be responsible for paying the other party’s vehicle damages and medical bills.


Do I need special car insurance to drive in Mexico?

To drive legally in Mexico, you need to carry a Mexican auto insurance policy. Contact your insurer for information about obtaining such a policy. You can also consider renting a car and purchasing Mexico auto insurance through the rental agency (if available).