Temporary Car Insurance in New Mexico

The Zebra
Jan. 18, 2019

If you’re seeking a creative approach to car insurance coverage, you could be considering a temporary car insurance contract. Truth is, short-term car insurance is uncommon for several reasons.

Firstly, large companies won't draw up policy terms shorter than six months. As car insurance coverage is mandated by law in every state but one, it can be risky to hop between policies. Additionally, you risk creating lapses in your insurance record by moving between policies frequently, leading to higher premiums in the future.

Thankfully, car insurance contracts usually run just six months. This short policy period allows insurance companies to “re-rate” — or recalculate — the bill using your up-to-date driving profile and personal info.


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It also provides a perfect opportunity to evaluate your policy by requesting quotes from other companies. Finding quotes online is easy and free, and there’s no penalty for trading insurers when your policy expires — or even in the middle of your policy period, assuming you never let your coverage lapse.

The flexible nature of car insurance makes it relatively easy to acquire quickly. If you need a policy before you can drive a car away, trying to find coverage for a relatively long-term rental, or searching for insurance for a car you don't own but drive regularly, think about purchasing a standard policy and removing coverage as needed.

Short car insurance policies in New Mexico

See below typical car insurance premiums in New Mexico, organized by major auto insurance companies and cities. If your costs exceed the rates below, think about shopping around.


SHORT-TERM CAR INSURANCE RATES IN NEW MEXICO — BY COMPANY
Insurance CompanyAverage 6-Month RateAverage Monthly Rate
New Mexico State Average — All Companies$666$111
USAA$430$72
State Farm$720$120
GEICO$664$111
Farmers$679$113
Farm Bureau$704$117

The most budget-friendly option for temporary auto insurance in New Mexico is USAA, which can save you $48 per month, compared to the next-cheapest choice, State Farm. In New Mexico, the average per-month cost of auto insurance is $111, or $666 over a six-month period.

Where you live can have as large an impact on your insurance rates as your choice of insurance company. Auto insurers take into account the number of local insurance claims when pricing policies by ZIP. See below insurance premiums in the largest New Mexico cities and compare against what you pay.


SHORT-TERM AUTO INSURANCE RATES IN NEW MEXICO — BY CITY
Insurance CompanyAverage 6-Month RateAverage Monthly Rate
Albuquerque$702$117
Las Cruces$560$93
Rio Rancho$635$106
Santa Fe$665$113
Roswell$599$100

If your costs don't match the above, think about taking a moment to shop around. The temporary timetable of a car insurance policy adds to the importance of remaining informed and willing to shop.

Learn more about temporary auto insurance or use The Zebra to compare policies today.


Additional resources

Check out the best auto insurance options for teen drivers.

Get affordable car insurance for new drivers.

Find out more about pleasure use car insurance.

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