Are Car Insurance Rates Increasing in New Mexico?

As anyone who drives — and insures — a car is aware, car insurance costs tend to increase each year. But car insurance is complicated: reasoning for rate hikes and price cuts may vary, and trends may differ based on the driver's location.

Among the primary rating factors insurance companies use to set rates is location. The ZIP code, city, and state in which a car is stored and driven contribute to car insurance rates, depending on state law and the varying risks associated with insuring cars in different areas.

Due to the dynamic nature of car insurance pricing, yearly price trends vary by state. Car insurance prices might be rising annually in one state while they decrease in a neighboring area.

See below auto insurance rate trends in New Mexico. If your policy isn't following your state's trend, consider looking for a new insurance option. The Zebra's car insurance comparison tool gathers rates based on your specific profile — enter your ZIP below to get started.

Car insurance rate trends in New Mexico

In New Mexico, average yearly auto insurance premiums decreased by $13 from 2017 to 2018. The usual driver in New Mexico faces an average rate of $1,352 per year.

The recent trend in New Mexico points to more expensive car insurance. Between 2015 and 2018, rates increased by an average of $232 per year. Meanwhile, car insurance rates across the nation as a whole have gone up recently, climbing from $1,280 in 2015 to $1,470 in 2018.

Year Avg. Annual Premium — New Mexico Yearly Change — New Mexico Avg. Annual Premium — USA Yearly Change — US
2018 $1,352 -$13 $1,470 $32
2017 $1,365 $26 $1,437 $69
2016 $1,339 $219 $1,368 $88
2015 $1,120 $66 $1,280 $51
2014 $1,054 $188 $1,229 $34
2013 $866 -$575 $1,195 -$80
2012 $1,441 $46 $1,276 $82

If your rates are rising faster than the average in your state, compare quotes and find a better deal.

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How are car insurance rates changing in the largest cities in New Mexico?

Auto insurance policies are priced at the ZIP code level with myriad variables influencing the area's rates. That means drivers can see major differences in their auto insurance rates, based on their ZIP code or city. For example, Albuquerque drivers experienced a larger premium increase (2.2%) than did drivers in Roswell (2.0%) between 2018 and 2017.

See below annual rates of change in major New Mexico cities. If your city is expensive — and moving isn't a feasible option — you can always get quotes and try to find a more reasonable rate.

City Avg. Premium Increase — 2018 vs. 2017
Albuquerque 2.2%
Roswell 2.0%
Las Cruces 1.5%
Rio Rancho 1.3%
Santa Fe 1.0%

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Kristine Lee photo
Kristine LeeManager, Content and Data

Kristine is a licensed insurance agent who joined The Zebra in 2019 as an in-house content researcher and writer.

She is an authority on all things insurance and covers the ins and outs of auto, home, life and renters insurance. Her specialty is in providing data-backed insights and information to help insurance shoppers make informed decisions.

Kristine's insurance expertise and research have been cited by publications such as CNBC, Car and Driver, Business Insider, Yahoo!, The Balance, Nationwide and Elephant.