Compare the Cheapest Car Insurance Quotes in Albuquerque, NM

Albuquerque has the same average car insurance rate as New Mexico, at $1,133 per year. The cheapest insurer in the city is MetLife, with an average cost of $910 per year. To help you secure quality service and affordable costs, MoneyGeek ranked the best insurance companies based on coverage levels and driving history.

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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

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Last Updated: 9/22/2022
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On average, MetLife provides the cheapest quotes in Albuquerque for full-coverage and state-minimum car insurance, while State Farm offers the lowest average rates for drivers with tickets on their records. Due to its excellent service and affordability, State Farm is also the best-rated car insurance provider in the city. For military members, USAA offers the lowest prices, on average.

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The Cheapest and Best Car Insurance in Albuquerque

The Cheapest Car Insurance Companies in Albuquerque

If you're looking for the most affordable full-coverage policies in Albuquerque on average, check out these providers:

  • MetLife: $910 per year
  • State Farm: $1,044 per year

Only military members and their families qualify for USAA’s auto insurance policies, which are usually amongst the cheapest.

Compared to Allied, the state's most expensive insurer on average, MetLife features 58% lower average premiums. A combination of coverages, including comprehensive and collision insurance, comprise a full-coverage policy. Costs will differ based on the coverage limits you select.

Cheapest Car Insurance in Albuquerque
Full Coverage 100/300/100
  • Company
    100/300/100per year
  • 1.
    MetLife
    $910
  • 2.
    State Farm
    $1,044
  • 3.
    Allstate
    $1,071
  • 4.
    Progressive
    $1,085
  • 5.
    Farmers
    $1,154
  • 6.
    GEICO
    $1,224
  • 7.
    Allied
    $1,443

MoneyGeek compiled average rates for a 40-year-old male driver with a full-coverage policy. A full-coverage car insurance policy is more expensive than a liability-only policy, as it contains two following types of coverage:

  • Collision Coverage: This coverage insures your vehicle against damage caused by a collision with another vehicle or fixed object.
  • Comprehensive Coverage: This insurance pays for damages to your vehicle that are not the result of a collision, like fire, theft, etc.

Full-coverage policies may be too expensive for older cars. You may want to consider purchasing the state minimum coverage based on your individual needs and characteristics.

Compare Car Insurance Rates in Albuquerque

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

Cheapest Car Insurance in Albuquerque for Minimum Coverage

The cheapest insurance policies in Tucson deliver the lowest level of coverage, such as minimum coverage insurance. The following companies sell the city's most affordable liability insurance, on average:

  • MetLife: $441 per year
  • State Farm: $507 per year

You may be eligible for lower rates from USAA if you or a family member have spent time in the military.

Compared to Allied, the most expensive insurer in the state on average, MetLife's average quote is $304 cheaper. Minimum coverage policies are cheaper due to their lower level of coverage. However, the lack of comprehensive and collision coverage puts you at risk of being underinsured. Use the table to see how rates fluctuate as liability limits are increased.

Cheapest Minimum Liability Car Insurance in Albuquerque
State Minimum

Drivers in New Mexico must carry a minimum of 25/50/10 liability insurance. This coverage is the cheapest insurance in Albuquerque and provides the least protection. Additionally, it increases your financial burden following an at-fault accident.

For instance, a driver who causes an accident with a property damage cost of $20,000 to the other motorist will only receive liability coverage for $10,000, leaving the driver at fault covering $10,000 out of pocket.

New Mexico Minimum Liability Requirements

  • Item
    Description
  • Bodily Injury and Property Damage
    $25,000 per person, $50,000 per accident and $10,000 for property damage. A more protective level is 100/300/100.

Cheapest Car Insurance in Albuquerque if You Have Driving Violations

In Albuquerque, a traffic violation like a speeding ticket or a DUI can drastically raise car insurance premiums. The following list details the city's cheapest average insurance quotes for various traffic offenses:

  • Cheapest After a Ticket: State Farm, $1,121 per year
  • Cheapest After an At-Fault Accident: State Farm, $1,121 per year
  • Cheapest After a DUI: State Farm, $1,121 per year

Regardless of the traffic infraction, you can reduce your insurance rates by improving your driving record over time. Getting a ticket or being involved in an accident makes it necessary to shop around for insurance policies to find your ideal provider.

Cheapest Car Insurance in Albuquerque With a Violation
Speeding Ticket

Average Cost of Car Insurance in Albuquerque

Albuquerque$1,133
New Mexico$1,133
U.S.$1,424

The average annual cost of car insurance in both Albuquerque and in the state of New Mexico is $1,133. The average car insurance rate in Albuquerque is slightly lower than the national average. Drivers in Albuquerque pay around 20.5% less than the national average cost of auto coverage.

Personalized Quotes to Get You the Cheapest Car Insurance in Albuquerque

Since the concept of auto coverage is all about providing financial protection against car-related risks, car insurance companies in Albuquerque look into several factors that can affect your car insurance quotes. Some of these factors include age, gender, marital status, ZIP code and make and model of the vehicle, among others.

For instance, in Albuquerque, a car insurance policy from State Farm for an 18-year-old driver is nearly three times more expensive than similar seniors car insurance coverage for a 70-year-old driver. As your circumstances may change over time, it’s recommended that you frequently request a personalized quote so you can purchase a car insurance plan that’s best suited to your current needs.

Compare Car Insurance Rates in Albuquerque

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

The Best Car Insurance Companies in Albuquerque

MoneyGeek weighed service quality and affordability to determine the best car insurance companies in Albuquerque. According to our data, the best auto insurance companies in the city are the following two:

  • State Farm: MoneyGeek score of 90 out of 100
  • GEICO: MoneyGeek score of 90 out of 100

Although USAA earned the highest ratings in Albuquerque, we excluded the company from the list since its policies are offered solely to military personnel and their dependents.

MoneyGeek used J.D. Power's affordability, customer satisfaction and financial stability scores to perform this research.


1
USAA
Score:100

5/5

Affordability

5/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

2
State Farm
Score:90

3/5

Affordability

3/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

3
GEICO
Score:90

5/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

4
Allstate
Score:83

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

5
CSAA
Score:83

5/5

Affordability

2/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

6
Liberty Mutual
Score:83

3/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

7
American Family
Score:80

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

8
Travelers
Score:80

2/5

Affordability

3/5

Claims Ratings

2/5

User Satisfaction

A++

Financial Stability

9
Safeco
Score:78

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

10
Farmers
Score:78

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

11
Progressive
Score:78

3/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

12
Nationwide
Score:75

2/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

Average Cost of Car Insurance by Postal Code

Not all neighborhood's auto insurance rates are the same. Different neighborhoods have different risks associated with them, so car insurance companies in Albuquerque consider your specific place of residence when they determine your rate. For instance, policyholders living in Albuquerque's most affordable neighborhood for auto coverage, 87114, will pay almost $140 less in annual car insurance premiums than car insurance policyholders living in ZIP code 87121.

  • Zip Code
    State Minimumper year
  • 87114
    $1,096
  • 87111
    $1,098
  • 87120
    $1,104
  • 87121
    $1,234

Factors That Impact Insurance Costs in Albuquerque

In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of fatal accidents also contribute to car insurance rates in Albuquerque. How Albuquerque ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.

accident2 icon
Most Accidents With Fatalities27th/300
handcuffs2 icon
Most Car Thefts305th/300
uninsured icon
Most Uninsured Motorists by State3rd/50
insurance2 icon
Personal Injury Protection RequiredNo
rain icon
Most Annual Rainfall289th/300
umbrella icon
Most Rainy Days230th/300

About the Author


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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.