Updated: November 18, 2025
Advertising & Editorial Disclosure
Quick Take: See who offers the cheapest insurance in New Mexico based on your age and driving history:
Cheapest by coverage type
Cheapest by driver age
Cheapest by driving record and credit score
Rates refreshed: November 15, 2025
Central is cheapest at $31 monthly for minimum liability-only coverage, followed by State Farm at $37 and Kemper at $42, saving you up to 31% compared to the state average cost for this coverage type.
| Central Insurance | $31 | $366 | 31% |
| State Farm | $37 | $433 | 18% |
| Kemper | $42 | $498 | 6% |
| Farm Bureau | $43 | $516 | 3% |
New Mexico requires $25,000 in bodily injury liability per person, $50,000 per accident and $10,000 in property damage liability (25/50/10). The state has one of the lowest property damage minimums in the country, translating into lower rates.
See our guide to how much car insurance you need for your situation.
GEICO offers the cheapest full coverage at $94 monthly, saving you 12% compared to the state average. Central and Kemper also have affordable rates at $102 monthly.
| Geico | $94 | $1,118 | 12% |
| Central Insurance | $102 | $1,214 | 4% |
| Kemper | $102 | $1,221 | 3% |
Should you opt for the cheaper minimum coverage or add full coverage in New Mexico? Full coverage gives you comprehensive and collision protection with your liability.
In New Mexico, comprehensive coverage covers damage from hailstorms, wildlife collisions, floods and theft. These weather and rural risks drive up rates in some areas, and most drivers will want full coverage unless they drive a very low-value car or are severely budget-constrained.
The cheapest provider in New Mexico depends on your city. Central Insurance, GEICO, and Kemper are the lowest price across most cities. The cheapest minimum monthly coverage in New Mexico ranges from $30 in Santa Fe to $47 in Hobbs. The least expensive full coverage ranges from $84 in Gallup to $110 in Albuquerque. See the table for the cheapest option in your city.
| Albuquerque | Central Insurance | $34 | $110 | -32% |
| Carlsbad | Kemper | $36 | $89 | -25% |
| Clovis | Geico | $43 | $89 | -21% |
| Farmington | Kemper | $35 | $85 | -19% |
| Gallup | Geico | $41 | $84 | -19% |
| Hobbs | Geico | $47 | $92 | -25% |
| Las Cruces | Central Insurance | $31 | $98 | -24% |
| Rio Rancho | Central Insurance | $31 | $103 | -31% |
| Roswell | Geico | $41 | $84 | -25% |
| Santa Fe | Central Insurance | $30 | $100 | -24% |
At age 16, Central offers the cheapest minimum coverage at $96 monthly and full coverage at $265 monthly. At age 20, Central remains the cheapest for minimum coverage at $49 monthly, while GEICO offers the cheapest full coverage at $156 monthly. By age 25, rates will drop, and Central is the cheapest for minimum coverage at $36 monthly, and GEICO is the cheapest for full coverage at $102 monthly.
| 16 | Central Insurance | $265 | $3,179 | 64% |
| 17 | Geico | $230 | $2,749 | 59% |
| 18 | Geico | $192 | $2,300 | 61% |
| 19 | Geico | $156 | $1,863 | 54% |
| 20 | Central Insurance | $149 | $1,785 | 51% |
| 25 | Geico | $102 | $1,224 | 40% |
| 16 | Central Insurance | $96 | $1,149 | 75% |
| 17 | Central Insurance | $85 | $1,011 | 70% |
| 18 | Central Insurance | $74 | $883 | 68% |
| 19 | Central Insurance | $64 | $768 | 60% |
| 20 | Central Insurance | $49 | $581 | 66% |
| 25 | Central Insurance | $36 | $426 | 53% |
For seniors in New Mexico, Central offers the most consistent savings on minimum coverage, starting at $47 monthly for age 65, while GEICO leads on full coverage at $115 monthly for age 65.
| 65 | Central Insurance | $47 | $554 | 34% |
| 70 | Central Insurance | $36 | $427 | 50% |
| 80 | Central Insurance | $45 | $535 | 51% |
| 90 | State Farm | $58 | $686 | 44% |
| 65 | Geico | $115 | $1,378 | 23% |
| 70 | Geico | $96 | $1,147 | 37% |
| 80 | State Farm | $121 | $1,442 | 36% |
| 90 | Geico | $124 | $1,481 | 41% |
State Farm offers the cheapest DUI rates at $40 monthly for minimum coverage and $116 for full coverage, with Kemper as the second cheapest at $50 monthly for minimum coverage and $126 for full coverage. While rates for those with a DUI will increase, you can save up to 40% by choosing the lowest cost insurer.
| State Farm | $40 | $116 | 39% |
| Kemper | $50 | $126 | 32% |
| Central Insurance | $53 | $164 | 15% |
| Geico | $66 | $141 | 19% |
| Progressive | $69 | $137 | 20% |
Central offers the cheapest accident rates at $31 monthly for minimum coverage and $102 for full coverage, with State Farm as the second cheapest at $44 monthly for minimum coverage and $123 for full coverage. If you have an accident, you can save up to 31% by choosing the lowest cost company in New Mexico.
| Central Insurance | $31 | $102 | 43% |
| State Farm | $44 | $123 | 29% |
| Kemper | $52 | $129 | 22% |
| Geico | $56 | $122 | 23% |
| Farm Bureau | $78 | $219 | -28% |
After a speeding ticket in New Mexico, Central offers the most affordable minimum coverage at $39 monthly. State Farm follows closely at $40, with Kemper at $49 monthly. Expect your rates to jump 15% to 25% above a clean driving record, but these providers will save you up to 23% from the state average.
| Central Insurance | $39 | $123 | 23% |
| State Farm | $40 | $116 | 26% |
| Kemper | $49 | $122 | 18% |
| Geico | $55 | $119 | 17% |
| Farm Bureau | $58 | $179 | -14% |
Kemper offers the cheapest minimum coverage for bad credit at $74 monthly and full coverage at $164, with Central as the second cheapest at $92 monthly for minimum coverage and $236 for full coverage.
You'll save between 17% and 47% with the insurers listed below. Poor credit is one of the biggest factors impacting your rates in the state, so improving your credit score will get you a cheaper rate.
| Kemper | $74 | $164 | 47% |
| Central Insurance | $92 | $236 | 27% |
| Geico | $98 | $224 | 28% |
| Farm Bureau | $102 | $254 | 20% |
| Nationwide | $130 | $241 | 17% |
We gathered auto insurance data from the State of New Mexico Office of Superintendent of Insurance and analyzed quotes from major insurers across all residential ZIP codes in New Mexico. Our analysis included more than 29 million rate comparisons in New Mexico to find the cheapest options for different driver profiles, coverage types and demographics. For detailed information on our research methodology, see our complete methodology guide.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
