The Best Car Insurance in Albuquerque, NM, for 2022

The best insurers offer services that are tailored to meet customer needs. State Farm is the top car insurance company in Albuquerque, with an overall MoneyGeek score of 93 out of 100. However, your personal profile will determine the best company for your requirements.

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Last Updated: 8/12/2022
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Based on MoneyGeek’s rankings, State Farm is the best car insurance provider in Albuquerque. However, depending on your age and coverage needs, another company may offer a better deal.

MoneyGeek compared insurance quotes for a variety of drivers, including those with violations, a military background and younger or older drivers. We also provided helpful resources to help drivers find the cheapest car insurance in Albuquerque.

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The Best Car Insurance in Albuquerque

Best Car Insurance Companies in Albuquerque: Overall

The best car insurance differs depending on specific consumer needs and company performance. MoneyGeek analyzed car insurance providers in Albuquerque based on their average rates, claims ratings and customer satisfaction.

The best car insurance companies in Albuquerque based on these metrics have the following scores:

  • State Farm: 93 out of 100
  • MetLife: 83 out of 100
The Top Car Insurance Companies in Albuquerque

1
State FarmOverall
Score:93

4.6/5

Affordability

4/5

Claims

5/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take
Geek Quick Take

State Farm earned perfect scores for stability and client satisfaction. In addition, State Farm earned the highest affordability score in Albuquerque at 4.61 out of five. The average cost of a State Farm full coverage policy for a 40-year-old is $1,044 per year. State Farm offers rideshare insurance, an uncommon add-on coverage.

More About State Farm

With State Farm’s rideshare insurance, rideshare drivers maintain their medical, emergency roadside and rental car reimbursement coverages when your app is on and you’re available to pick up passengers. The company also offers roadside assistance and rental car reimbursement as standalone add-on coverages.

Read MoneyGeek's State Farm auto Insurance Review
2
MetLife
Score:83

4.2/5

Affordability

4.1/5

Claims

3.5/5

User Satisfaction

4.5/5

Financial Stability

Geek Quick Take
Geek Quick Take

MetLife scores 83 out of 100 overall, with solid scores for affordability (4.22 out of five) and stability (4.45 out of five). Farmers Insurance Group recently acquired MetLife, so MetLife now offers the same coverages as Farmers, including custom parts coverage. The yearly cost of a MetLife full coverage policy for the average 40-year-old driver is $910 — the cheapest rate in Albuquerque.

More About MetLife

If you have comprehensive and collision coverage and you want custom wheels or aftermarket equipment installed on your car, Farmers has custom parts coverage that will cater to these special requests and needs. Farmers also reduces the comprehensive deductible to $100 for glass-restricted loss and provides Original Equipment Manufacturer (OEM) coverage.

Read MoneyGeek's MetLife auto Insurance Review
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RESOURCES ON CAR INSURANCE IN ALBUQUERQUE, NEW MEXICO

Are you looking for the cheapest car insurance in New Mexico? MoneyGeek also analyzed the most affordable insurers in Albuquerque and across the state. Take a look at the following resources for further information on auto insurance coverage in New Mexico.

Best Cheap Car Insurance for Minimum Coverage in Albuquerque

MoneyGeek ranked the best auto insurance companies for Albuquerque drivers who want only the minimum car insurance required by New Mexico. These are:

  • State Farm: 90 out of 100
  • MetLife: 85 out of 100

Our rankings take into account drivers of all ages and backgrounds, including older and young drivers and those with violations.

MoneyGeek’s Pick: State Farm

State Farm

pros

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A minimum coverage policy only costs $507 annually

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Perfect scores in financial stability and customer feedback

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Bundling, defensive driving and new vehicle discounts

cons

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No disability, accident forgiveness or new car replacement coverages

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Few add-on coverages available

COMPANY HIGHLIGHTS

Customers who take advantage of several State Farm products, such as life or homeowners insurance, can benefit from the company's bundling discounts. Plus, if you insure two or more vehicles with State Farm, you'll get an additional discount on your auto policy.

As for State Farm's other discounts, policyholders whose car was made in 1994 or later are eligible for a discount. The company also offers a discount if your car is equipped with an airbag or other passive restraint system.

Read MoneyGeek's State Farm Auto Insurance Review

Best Car Insurance for Young Drivers in Albuquerque

To determine the best auto insurance companies for young Albuquerque drivers, MoneyGeek looked at different coverage needs and driving experience of 18-year-olds in the city. The top-rated insurers are:

  • State Farm: 98 out of 100
  • Allstate: 79 out of 100

Due to their lack of driving experience, car insurance rates for young drivers and student drivers are often higher than the average.

MoneyGeek’s Pick: State Farm

State Farm

pros

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A full coverage policy for a teen only costs $2,782 annually

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Offers distant student, good student and driver’s education discounts

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MoneyGeek claims rating of 4 out of 5

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MoneyGeek user satisfaction rating of 5 out of 5

cons

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Lacking some common discounts

COMPANY HIGHLIGHTS

Adding a young driver to your policy may be costly, but State Farm offers reasonable rates without compromising great service. This is especially important for young drivers who are inexperienced behind the wheel or prone to reckless behavior.

With State Farm, students who earned a B average or 3.0 GPA, or placed in the top 20% of their class, may be eligible to receive a discount. Additionally, all policyholders under 21 who completed an approved driver education course can expect to pay less. Roadside assistance is also available for young drivers who have car trouble on the road.

Read MoneyGeek's State Farm Auto Insurance Review

Best Car Insurance for Senior Drivers in Albuquerque

We analyzed various policy coverage options for 70-year-old drivers in Albuquerque to identify the best auto insurance for senior drivers. Our top-rated companies in Albuquerque are:

  • State Farm: 92 out of 100
  • MetLife: 92 out of 100

Generally, car insurance for senior drivers is more expensive than for middle-aged drivers, but you may still search around for a good mix of price and quality.

MoneyGeek’s Pick: State Farm

State Farm

pros

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Full coverage policy for senior drivers costs approximately $1,016

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Offers a defensive driving discount

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MoneyGeek claims rating of 4 out of 5

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MoneyGeek user satisfaction rating of 5 out of 5

cons

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Doesn’t offer a senior driver discount

COMPANY HIGHLIGHTS

Although there is no difference between senior car insurance and regular car insurance, some insurers may charge more for seniors. State Farm, however, offers affordable policies and discounts that older drivers can take advantage of. For example, completing a defensive driving course entitles senior drivers to a discount from State Farm.

Apart from that, senior drivers can purchase roadside assistance, which covers costs for up to one hour at the place of breakdown, towing to a repair facility, delivery of battery, gas, oil and tire change (excluding the costs of the items). State Farm also offers rental car and/or travel reimbursement, which covers the expenses of renting a car, meals and lodging up to certain limits.

Read MoneyGeek's State Farm Auto Insurance Review

Best Car Insurance With a Driving Violation in Albuquerque

Based on plans and coverage levels for various ages, MoneyGeek reviewed and ranked the best car insurance companies in Albuquerque to determine the top providers for drivers with at-fault accidents on their records. They are:

  • State Farm: ​​98 out of 100
  • MetLife: 79 out of 100

A bad driving record increases your auto insurance premiums, so it's in your financial interest to compare rates offered by several companies before deciding on a policy.

MoneyGeek’s Pick: State Farm

State Farm

pros

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Full coverage policy with violations for just $1,121 per year

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Offers most standard discounts

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MoneyGeek claims rating of 4 out of 5

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MoneyGeek user satisfaction rating of 5 out of 5

cons

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Pay-in-full and paperless discounts not available

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Doesn’t offer accident forgiveness

COMPANY HIGHLIGHTS

Drivers with a violation or accident on their record may think it’s impossible to find an insurance company that is willing to offer them affordable coverage. But that is not always the case. State Farm, for example, offers relatively low-cost policies with good coverage. In fact, completing a defensive driving course results in a discount on their insurance premiums.

As for other discounts, drivers can save money if their vehicle has an airbag or other passive restraint system. They may also be eligible for a discount on their auto, home, renters, condo or life insurance if they bundle these policies through State Farm.

Read MoneyGeek's State Farm Auto Insurance Review

Methodology

MoneyGeek's car insurance scoring system is based on quotes collected from Albuquerque-area providers and evaluations made by industry leaders, including J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC).

To find the best car insurance in Albuquerque, New Mexico, for different driver profiles, MoneyGeek applied these weighted scores to each assessment category:

  • Affordability (70%): MoneyGeek compiled average insurance premiums from different providers in Albuquerque and ranked them according to their cost. The company offering the cheapest rates received a perfect score.
  • Customer and claims satisfaction (20%): MoneyGeek examined J.D. Power surveys to determine which insurance providers had the highest scores in various categories, including service and claims handling. A 10% weighting was given to each sub-category.
  • Financial stability (10%): MoneyGeek used AM Best ratings to look into the company’s economic stability and its capabilities to pay legitimate claims fairly and efficiently.

We scaled each category's score to five points, then scaled the overall score to 100 points. We calculated the overall affordability score using numerous factors, including age and driving record, as well as coverage levels, which were adjusted depending on a driver's profile.

All rates reflect the average premiums for a full coverage policy with the following limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $100,000 property damage liability
  • Comprehensive and collision coverage with a $1,000 deductible

For more information about how we collect, compare and score the car insurance companies, see our methodology page.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.