These companies also offer some of the best auto insurance in New Mexico for drivers who have had an accident:
- Geico, which charges these drivers about $1,631 per year
- Nationally, where drivers with a single accident pay $2,110 per year
Ideal for drivers with speeding tickets
Drivers with speeding tickets may also want to check out State Farm. While the state average for ticketed drivers is $2,152 per year, State Farm will cover them for only $1,302 per year.
These companies also offer cheap auto insurance in New Mexico to drivers with speeding tickets:
- Geico, where the average annual premium for these drivers is $1,344
- Nationwide, which charges these drivers about $1,704 per year
Ideal for young drivers
A typical accident-free 18-year-old male driver pays about $4,799 a year for car insurance in New Mexico. But those who choose Geico can get the same coverage for just $3,005 a year.
These companies also offer cheap car insurance quotes in New Mexico to teen drivers:
Ideal for senior drivers
Seniors pay about $1,603 a year for New Mexico auto insurance. But again, Geico offers a much lower rate. Its drivers only pay about $974 a year.
Senior drivers can also get affordable car insurance in New Mexico from these insurers:
- State Farm, where seniors pay about $1,072 a year
- Nationwide, which charges the average 65-year-old driver about $1,155 a year
Ideal for drivers looking for minimal coverage
New Mexico’s minimum auto insurance costs only about $512 a year, but drivers hoping to save even more should look to Central Insurance. It only charges about $348 per year for state minimum coverage.
Drivers can also get cheap liability insurance in New Mexico from these companies:
- State Farm, where minimum coverage costs about $381 per year
- Geico, which charges $402 a year for New Mexico’s minimum auto insurance
Ideal for drivers with bad credit
Drivers with bad credit can expect to pay around $2,830 a year for New Mexico car insurance. But those who choose Geico can get coverage for almost $1,000 less. Its average annual premium for these drivers is just $1,875.
New Mexico drivers with bad credit can also get low-cost car insurance from these companies:
- State Farm, where these drivers pay about $1,962 a year
- Nationwide, which charges drivers with bad credit about $2,245 a year
Average cost of car insurance in New Mexico compared to the national average
How much does car insurance cost in New Mexico? This depends on several factors, such as driver’s record, vehicle make and model, address, etc. But generally, New Mexico auto insurance rates are well below the national average. Here’s a look at how its average annual premiums compare to the rest of the country for some of the driver profiles mentioned above.