What is the Average Cost of Auto Insurance in New Mexico?

The Zebra
Feb. 7, 2019

Auto insurance policies are affordable in New Mexico. The average auto insurance premium in New Mexico is $1,331 per year — 6.8% less than the US average.

Your car insurance premiums are affected by factors aside from geography. Car insurance rates price based on various factors, including a driver's age, credit rating, driving history, gender, and marital status.

We analyzed New Mexico car insurance rates by each of the primary rating factors. Learn how much car insurance costs in your state — or enter your zip code to receive personalized rates from top auto insurance companies.


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Average New Mexico car insurance rates by:


  1. Age
  2. Gender
  3. Marital status
  4. Credit score
  5. Driving violations
  6. Coverage level

Average Auto Insurance Costs in New Mexico by Age

It's a common phenomenon: as you age, your car insurance prices change. Generally speaking, auto insurance is more costly for young drivers, as car insurance companies consider newer motorists as more risky.

In New Mexico, auto insurance runs $6,861 each year for a 16-year-old driver and only $1,188 per year for a driver in their 50s.


NEW MEXICO CAR INSURANCE PRICES BY AGE
AgeAverage Yearly Rate
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

If you're shopping for car insurance for a teen driver, New Mexico is the 31st cheapest state in which to buy auto insurance for a 16-year-old.




Average Auto Insurance Expenditures in New Mexico by Gender

While gender doesn’t have as significant an impact on auto insurance costs as state or age, it is used as a rating factor by underwriters.


NEW MEXICO AUTO INSURANCE RATES BY GENDER
GenderAverage Yearly Rate
Male$1,317.66
Female$1,313.96

If you think you might not be getting the best possible value for your money with your present auto insurance company, the best option is to compare offerings from a variety of insurance companies.




Mean Auto Insurance Rates in New Mexico by Marital Status

One pro of married life — aside from the wedding gifts — is the price cut you typically receive on auto insurance. In New Mexico, married drivers save $108 each year on car insurance. This is more than the US savings of $76.


NEW MEXICO CAR INSURANCE RATES BY MARITAL STATUS
Marital StatusAverage Annual Premium
Single$1,317.66
Married$1,209.50
Divorced$1,317.66
Widowed$1,300.35

Auto insurance for divorced drivers in New Mexico is the 27th most expensive in the nation. If you're overpaying for your policy, shop around. You could find a great policy for less!




Average Car Insurance Rates in New Mexico by Credit Score

Auto insurance companies use credit history as a prediction of how reliable a client will be. Historical data suggest drivers who maintain good credit are usually more reliable auto insurance clients: they less commonly file claims for which insurance companies pay.

In New Mexico, a driver who holds excellent credit saves $1,047.50 each year in insurance payments, compared to a driver who has a low credit history. Learn more about how credit can impact car insurance costs:


NEW MEXICO AUTO INSURANCE COSTS BY CREDIT SCORE
Credit LevelAverage Annual Rate
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

Finding affordable car insurance if you have a low credit score can be stressful. But we're here to assist. Check out our guide to getting car insurance with bad credit and learn how to save!




Average Car Insurance Costs for High-Risk Drivers in New Mexico

If you’re defined as at fault in a car accident or found guilty of a vehicular offense, your car insurance costs are bound to climb. The more violations you amass, the more expensive your car insurance policy becomes.

In New Mexico, your first minor at-fault crash will cost you $641.69 per year in auto insurance premiums. A DUI or DWI — considered among the most serious vehicular violations — could increase your yearly insurance rates in New Mexico by as much as $686.61.


NEW MEXICO CAR INSURANCE PRICES AFTER OFFENSES
AgeAverage Annual Premium
DUI/DWI$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 are looking for a better deal on auto insurance, it's worth shopping to get reasonably priced coverage that suits you.




Average Auto Insurance Prices in New Mexico by Credit History

Car insurance underwriters utilize credit history to gauge a potential customer's reliability. Data show drivers who hold good credit histories are often more insurable car insurance customers: they are less likely to file claims insurance companies have to reimburse.

In the state of New Mexico, a driver who maintains outstanding credit saves $1,047.50 each year in car insurance premiums, versus a driver saddled with a bad credit history. Learn more about how credit history can affect auto insurance expenses:


NEW MEXICO CAR INSURANCE COSTS BY CREDIT TIER
Credit ScoreAverage Annual Rate
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

Getting affordable auto insurance with bad credit can be tricky. But we're here to provide some help. Check out our guide to finding auto insurance with bad credit and save!




Average Auto Insurance Prices by Coverage in New Mexico

How much you are charged monthly for car insurance depends on the level of coverage you select. Liability-only coverage typically is less expensive, while low-deductible comprehensive coverage costs more. In New Mexico, the price gap between state-minimum liability-only coverage and comprehensive coverage with a $500 deductible is $689.


NEW MEXICO CAR INSURANCE PRICES BY COVERAGE TIER
Coverage LevelAverage Annual Rate
$100K/$300K/$100K Bodily Injury/Property Damage — Liability Only$672
$100K/$300K/$100K Bodily Injury/Property Damage — $1,000 Comprehensive/Collision$1,218
$100K/$300K/$100K Bodily Injury/Property Damage — $500 Comprehensive/Collision$1,362
$50K/$100K/$50K Bodily Injury/Property Damage — Liability Only$577
$50K/$100K/$50K Bodily Injury/Property Damage — $1,000 Comprehensive/Collision$1,122
$50K/$100K/$50K Bodily Injury/Property Damage — $500 Comprehensive/Collision$1,266
State Minimum — Liability Only$488
State Minimum — $1,000 Comprehensive/Collision$1,032
State Minimum — $500 Comprehensive/Collision$1,177

If you're facing above-average car insurance costs, think about weighing rates to find affordable insurance coverage that meets your requirements.