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What Used Cars are the Cheapest to Insure in New Mexico?

In New Mexico, the Subaru Forester, Subaru Crosstrek, and Mazda CX-3 are the cheapest used cars to insure. The Subaru Forester costs $137.72 monthly for full coverage, while the liability-only coverage costs $51.75.

Hot Air Balloons over the Rio Grande in New Mexico

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What Used Cars are the Cheapest to Insure in New Mexico?

Want to know the cheapest pre-owned vehicle to insure in New Mexico? We researched insurance quotes in the state to save you the effort!

This article covers insurance basics for the state of New Mexico and tips to save money on premiums. We also found the best insurance companies and answered frequently asked questions!

New Mexico Cheapest Used Cars to Insure

Using a basic driver profile and an insurance quote generator, we assessed 45 vehicles featured on the Insurance Institute for Highway Safety (IIHS) 2021 Top Safety Pick+ list. We found these pre-owned vehicles to be the cheapest to insure in New Mexico:

1. 2021 Forester by Subaru

The 2021 Subaru Forester is the cheapest used car to insure in New Mexico. Full-coverage insurance for this four-door SUV costs $137.72, slightly more than the state average of $132.58 a month. A liability-only policy costs $51.75 each month.

This top-ranked vehicle gets 26 mpg on city roads and 33 mpg on the highway.

2. 2021 Crosstrek by Subaru

The second-cheapest used car to insure in New Mexico is the 2021 Subaru Crosstrek. A full-coverage insurance policy for this four door SUV costs $138.52, marginally more than the state average $132.58 monthly charge. Liability-only policies for this car cost $49.27 a month.

The Subaru Crosstrek won an award on the Top Safety Pick+ list for its optional front crash-prevention features and LED reflector headlights.

3. 2021 CX-3 by Mazda

The third-cheapest used car to insure in New Mexico is the 2021 Mazda CX-3. Full coverage for this subcompact SUV costs $145.08 per month, slightly more than $132.58 a month average cost in New Mexico. A liability-only insurance policy for this car costs $57.92 per month.

The CX-3 gets 29 mpg in the city and 34 mpg on the highway.

The 45 Cheapest Used Vehicles to Insure in New Mexico

Man signing car insurance document

We selected 45 vehicles from the IIHS Top Safety Pick+ list, including a range of different vehicle types. Using a basic New Mexico driver profile to generate the quotes, we ranked them according to the cost of their full-coverage insurance policies.

We have also included the cost for their liability-only insurance.

Year Make Model Full Coverage Liability Only
2021 Subaru Forester $137.72 $51.75
2021 Subaru Crosstrek $138.52 $49.27
2021 Mazda CX-3 $145.08 $57.92
2021 Subaru Legacy $150.80 $52.75
2021 Subaru Outback $154.75 $52.75
2021 Mazda CX-5 $156.89 $57.92
2021 Honda Insight $164.76 $58.92
2021 Toyota Camry $165.29 $60.19
2021 Nissan Rogue $165.46 $60.83
2021 Mazda 3 $173.13 $66.22
2021 Acura TLX $176.10 $57.52
2021 Honda Accord $177.16 $60.19
2021 Kia K5 $179.52 $63.95
2021 Mazda 6 $180.59 $61.83
2021 Nissan Altima $183.52 $64.19
2021 Ford Bronco $183.62 $67.61
2021 Mitsubishi Outlander $185.63 $67.73
2021 Mazda CX-30 $200.68 $79.85
2021 Hyundai Nexo $212.01 $84.62
2021 Nissan Maxima $213.13 $61.83
2021 Chevrolet Trailblazer $214.63 $84.62
2021 Hyundai Santa Fe $215.45 $86.65
2021 Hyundai Tucson $217.07 $88.93
2021 Volkswagen ID.4 $224.13 $86.02
2021 Subaru Ascent $225.66 $84.62
2021 Volvo XC40 $230.54 $88.93
2021 Hyundai Palisade $231.47 $86.65
2021 Toyota Highlander $232.27 $86.65
2021 Volvo XC60 $238.00 $91.95
2021 Volvo V60 $238.26 $89.93
2021 Nissan Murano $238.85 $91.05
2021 Volvo S60 $242.54 $88.29
2021 Mazda CX-9 $243.63 $91.95
2021 Kia K5 $244.48 $92.05
2021 Lexus NX $245.38 $86.65
2021 Mazda 6 $245.55 $89.93
2021 Chrysler Pacifica $247.13 $87.02
2021 Ford Explorer $257.89 $97.60
2021 Volvo V90 $265.91 $83.78
2021 Lexus ES $267.50 $85.62
2021 Audi e-tron $269.65 $86.65
2021 Volvo S90 $273.30 $83.78
2021 Lexus IS $277.10 $85.62
2021 Mercedes-Benz C-Class $282.72 $87.02
2021 Audi A6 $337.17 $85.62

Full Coverage vs. Liability Insurance Costs

Liability-only insurance is cheaper because it only covers damage you may cause, whereas full coverage also insures your vehicle from damage due to outside factors such as other drivers. Below are the average annual costs for both full-coverage and liability-only insurance for cars in New Mexico.

Full-coverage policy
Liability-only policy
$1,591 $346

Tips to Lower Insurance Premiums in New Mexico

Drivers in New Mexico can follow these tips to maximize discounts and minimize insurance premiums:

  • Shop around and use quote comparison sites to find the best deal.
  • Minimize your coverage by opting for a liability-only insurance policy.
  • Look for discounts and ask if bundling policies or having a responsible driving history can reduce your premium.
  • Improve your credit score to demonstrate your financial responsibility.

Research Methodology

We used an in-state address to help drivers in New Mexico find relevant and accurate information on the cheapest used vehicles to insure. We applied a basic driver profile to that address and ran the 45 aforementioned vehicles through an insurance quote generator.

Basic Driver Profile

  • 35-year-old-male with a bachelor’s degree
  • Single and employed full time
  • Homeowner but did not bundle policies
  • Owns the vehicle rather than leases or finances it
  • Has been with the current insurance carrier for five or more years

We used vehicles on the IIHS 2021 Top Safety Pick+ 2021 list. The IIHS is an independent, nonprofit organization that collects safety data for cars on the market.

We used the following limits for liability-only quotes:

  • $100,000/$300,000 liability limits
  • $100,000 property damage limits
  • $10,000 personal injury protection

For the full-coverage quotes, we included the following coverages with the liability selections:

  • $1,000 deductible on collision coverage
  • $1,000 deductible for comprehensive coverage
  • $50/$1,500 rental reimbursement
  • $100 roadside assistance

Frequently Asked Questions

What is the cheapest SUV to insure in New Mexico?

The 2021 Subaru Forester is the cheapest SUV to insure in New Mexico. A full-coverage policy is $137.72 per month, and liability-only coverage is $51.75 per month.

Are older cars cheaper to insure?

Older cars are cheaper to insure because they’re cheaper to purchase, maintain, repair, and replace than new cars.

How much liability insurance is required in New Mexico?

In New Mexico, drivers need a liability insurance policy that covers $25,000 bodily injury per person, $50,000 bodily injury total, and $10,000 property damage per accident.

What is the penalty for driving without insurance in New Mexico?

Driving without insurance in New Mexico can result in a fine of up to $300, a possible 90-day jail term, and the suspension of your license. Drivers need to return their license plates and vehicle registrations to the New Mexico Motor Vehicle Division or face a further fine of $1,000.

What is the basic insurance for a car?

The basic insurance for a vehicle is liability insurance which provides coverage for damage caused by the insured driver. Lenders may require additional insurance, such as comprehensive and collision coverage or uninsured motorist coverage.

What car has the highest insurance rates?

Higher insurance rates apply to luxury, rare, or high-performance vehicles, such as supercars. These cars have higher rates because replacement parts are harder to find, and their construction methods typically make them difficult to maintain.


  1. (2023.) 2021 Top Safety Picks. IIHS. Retrieved April 13, 2023, from https://www.iihs.org/ratings/top-safety-picks/2021
  2. (2023.) Insurance. New Mexico Motor Vehicle Division. Retrieved April 13, 2023, from https://www.mvd.newmexico.gov/vehicles/insurance/
  3. (2023.) Penalties for Driving Without Insurance in New Mexico. ValuePenguin. Retrieved April 13, 2023, from https://www.valuepenguin.com/auto-insurance/new-mexico/penalties-driving-without-insurance
  4. (2023.) Average Cost of Car Insurance in New Mexico for 2023. Bankrate. Retrieved April 13, 2023, from https://www.bankrate.com/insurance/car/average-cost-of-car-insurance-in-new-mexico/
FIXD Research Team

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.

We’re here to help you simplify car care and save, so this post may contain affiliate links to help you do just that. If you click on a link and take action, we may earn a commission. However, the analysis and opinions expressed are our own.


About the Author

FIXD Research Team

FIXD Research Team

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.

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