Drivers in New Mexico have lots of options for car insurance. Choosing the right insurance policy can ensure your peace of mind when you’re on the road. Keep reading to learn about finding the best car insurance in New Mexico.
Car Insurance Requirements in New Mexico
New Mexico’s Motor Vehicle Division has specific liability insurance requirements for drivers who live in the state. Here are the mandatory minimum amounts of coverage:
- $25,000 for any accident where the driver causes bodily injury or death to one person
- $50,000 for any accident where the driver causes bodily injury or death to two or more people
- $10,000 for any accident where the driver causes property damage or destruction
Many drivers choose more comprehensive coverage options, which can save them money if they’re involved in a collision or other traffic incident.
How Much Does Car Insurance Cost in New Mexico?
Your yearly insurance costs might depend on a variety of factors, including your chosen plan, your age, the age of your car, and your driving history. While a minimum plan might be cheaper and still meet the state’s requirements, more comprehensive plans can provide security in case of a collision or other incident. Here’s pricing information on some of New Mexico’s top insurance companies:
State Farm
State Farm is a large, national insurance company with offices in most New Mexico cities. The company’s multi-state operations make it easy for customers to change their insurance coverage with State Farm when they relocate. Here are average costs for New Mexico drivers using State Farm:
- Average annual rate: $1,042
- Minimum coverage: $928
- High coverage: $1,163
- Coverage for seniors over 60: $930
- Coverage for young adults aged 25: $1,252 for men and $1,113 for women
- Coverage for drivers with clean records: $1,042
- Coverage after a DUI: $1,121
- Coverage after a speeding ticket: $1,121
- Coverage after an accident: $1,121
- Coverage for drivers with poor credit: $2,107
USAA
USAA is an insurance network open to active military personnel, veterans, and immediate family members, including spouses and children. Because of its limited member base, USAA can sometimes offer lower rates than other insurance providers for qualified applicants. Here are average costs for New Mexico drivers with USAA:
- Average annual rate: $802
- Minimum coverage: $727
- High coverage: $868
- Coverage for seniors over 60: $722 for men and $723 for women
- Coverage for young adults aged 25: $963 for men and $903 for women
- Coverage for drivers with clean records: $802
- Coverage after a DUI: $1,568
- Coverage after a speeding ticket: $991
- Coverage after an accident: $1,164
- Coverage for drivers with poor credit: $1,413
GEICO
Founded in 1936, GEICO provides a variety of insurance products to customers across the country, including New Mexico drivers. GEICO offers lower rates than many of its competitors, particularly for drivers with no traffic citations on their records. If you’ve got a clean driving record, GEICO’s products might be right for you. Here are the average costs for drivers with GEICO:
- Average annual rate: $983
- Minimum coverage: $889
- High coverage: $1,104
- Coverage for seniors over 60: $953 for men and $899 for women
- Coverage for young adults aged 25: $1,105 for men and $1,146 for women
- Coverage for drivers with clean records: $983
- Coverage after a DUI: $1,889
- Coverage after a speeding ticket: $1,181
- Coverage after an accident: $1,387
- Coverage for drivers with poor credit: $1,463
Nationwide
Founded in 1926, Nationwide has been providing insurance to customers across the country for almost a century. The company’s suite of products includes auto, home, and life insurance policies. While Nationwide policies are often more expensive than some competitors, you can save money by bundling insurance products together. Here are average costs for New Mexico drivers who choose Nationwide for their auto insurance:
- Average annual rate: $1,126
- Minimum coverage: $1,074
- High coverage: $1,203
- Coverage for seniors over 60: $1,004 for men and $924 for women
- Coverage for young adults aged 25: $1,407 for men and $1,297 for women
- Coverage for drivers with clean records: $1,126
- Coverage after a DUI: $2,015
- Coverage after a speeding ticket: $1,309&
- Coverage after an accident: $1,654
- Coverage for drivers with poor credit: $1,612
Progressive
Headquartered in Ohio, Progressive serves customers across the United States. While the average annual rate is higher than some other providers, the company offers 24/7 claims service and uses apps and other tools to make the insurance process easier. Here are average costs for New Mexico drivers who choose Progressive:
- Average annual rate: $1,255
- Minimum coverage: $1,154
- High coverage: $1,402
- Coverage for seniors over 60: $1,039 for men and $1,015 for women
- Coverage for young adults aged 25: $1,577 for men and $1,557 for women
- Coverage for drivers with clean records: $1,255
- Coverage after a DUI: $1,412
- Coverage after a speeding ticket: $1,622
- Coverage after an accident: $1,901
- Coverage for drivers with poor credit: $1,826
Farmer’s Insurance
Farmer’s Insurance is a national chain that offers home, life, commercial, and auto insurance. The company emphasizes its service, including a Mobile Claims Center Bus that can visit customers on-site during disasters to ensure an easy claims process. Here are the average costs for New Mexico drivers using Farmer’s Insurance:
- Average annual rate: $1,504
- Minimum coverage: $1,362
- High coverage: $1,657
- Coverage for seniors over 60: $1,440 for men and $1,346 for women
- Coverage for young adults aged 25: $1,728 for men and $1,618 for women
- Coverage for drivers with clean records: $1,504
- Coverage after a DUI: $2,059
- Coverage after a speeding ticket: $1,905
- Coverage after an accident: $2,135
- Coverage for drivers with poor credit: $2,309
While these numbers provide average insurance costs for different groups of drivers, you can get exact quotes by calling each company or filling out quote requests on the companies’ websites. Then, compare each provider’s costs and features to choose the plan that’s right for you. That way, you can get the protection you need at a cost that fits your budget.

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.