What's the Average Cost of Auto Insurance in New Mexico?

The Zebra
Oct. 11, 2018

Auto insurance is affordable in New Mexico. The average auto insurance premium in New Mexico is $1,331 annually — less than the national average by 6.8%.

Your auto insurance rates are dictated by factors aside from location. Car insurance premiums take into account an array of considerations, including the insured party's age, credit rating, driving history, gender, and marital status.

We examined average New Mexico car insurance rates by each of the major rating qualifications. See below how much auto insurance costs in your location — or enter your zip code to receive tailored rates from top car insurers.


Average Auto Insurance Rates in New Mexico by Age

It's unavoidable: as you get older, your auto insurance prices change. Generally, car insurance is pricier for young drivers, as insurers see inexperienced motorists as less responsible.

In New Mexico, auto insurance costs $6,861 each year for a 16-year-old driver, but only $1,188 annually for a driver in his or her 50s.


NEW MEXICO AUTO INSURANCE RATES BY AGE BRACKET
Age Average Annual Premium
16 $6,860.97
17 $6,028.38
18 $5,092.75
19 $3,144.14
20s $1,726.11
30s $1,294.07
40s $1,262.35
50s $1,188.40
60s $1,222.05
70s $1,577.96



Average Car Insurance Rates in New Mexico by Gender

While gender doesn’t carry as significant an impact on car insurance prices as a driver's location or age, it is used as a pricing factor. Women pay less than do men for auto insurance in New Mexico, but the discrepancy is just $3.71 annually.

NEW MEXICO CAR INSURANCE PREMIUMS BY GENDER
Gender Average Yearly Premium
Male $1,317.66
Female $1,313.96



Average Car Insurance Premiums in New Mexico by Marriage Status

A benefit of nuptials — in addition to the wedding gifts — is the lower prices you often get on insurance. In New Mexico, married drivers save $108 per year on auto insurance. This is a better deal than the national savings of $76.


NEW MEXICO CAR INSURANCE PRICES BY MARITAL STATUS
Marital Status Average Annual Rate
Single $1,317.66
Married $1,209.50
Divorced $1,317.66
Widowed $1,300.35



Average Auto Insurance Prices in New Mexico by Credit

Car insurance underwriters reference credit history as a prediction of the reliability of a prospective customer. Data trends demonstrate drivers with solid credit are usually more dependable auto insurance clients: they less commonly file claims for which insurance companies end up on the hook.

In New Mexico, a motorist who carries exceptional credit can save $1,047.50 per year on car insurance rates, contrasted with a driver with a less-favorable credit rating. Learn more about how credit can affect auto insurance expenses:


NEW MEXICO CAR INSURANCE EXPENDITURES BY CREDIT LEVEL
Credit Score Average Annual Premium
Very Poor (300-579) $2,196.43
Fair (580-669) $1,867.06
Good (670-739) $1,582.06
Very Good (740-799) $1,363.55
Exceptional (800-850) $1,148.93



Average Car Insurance Costs for Bad Drivers in New Mexico

If you are discovered to be at fault after a crash or found guilty of a vehicular offense, your insurance costs are bound to rise. The more violations you accumulate, the pricier your auto insurance gets.

In New Mexico, your first at-fault fender bender costs $641.69 per year in car insurance premiums. A DUI — among the most grave driving infractions — may boost your annual insurance expenditure in New Mexico by as much as $686.61.


NEW MEXICO CAR INSURANCE PREMIUMS AFTER VIOLATIONS
Age Average Annual Premium
DWI/DUI $2,017.26
Reckless Driving $2,166.99
At-Fault Accident (<$1,000) $1,972.34
At-Fault Accident ($1,000-$2,000) $2,524.73
At-Fault Accident (>$2,000) $1,972.34
Open Container $2,088.54
Speeding (21-25 MPH > limit) $2,229.85
Speeding (16-20 MPH > limit) $2,229.85

If you're in need of affordable auto insurance, think about weighing rates to get affordable insurance coverage that meets state regulations.


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