GEICO provides New Mexico's most affordable car insurance, with monthly rates of $46 for minimum coverage and $95 for full coverage. Drivers save $16 monthly (19%) compared to state averages. Get quotes from Central, State Farm, Kemper and Progressive too.
Cheapest Car Insurance in New Mexico
Updated: November 10, 2025
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Key Takeaways
GEICO, Central and State Farm offer the cheapest car insurance rates in New Mexico, with savings up to 19% below the state average.
Car insurance costs in New Mexico start at $26 monthly for minimum coverage and $95 for full coverage policies on average.
To find affordable coverage, research top companies, look for discounts and compare multiple provider quotes.
Who Has the Cheapest Car Insurance in New Mexico?
| Central Insurance | $32 | $109 |
| Geico | $46 | $95 |
| Kemper | $45 | $108 |
| Progressive | $60 | $99 |
| State Farm | $37 | $111 |
*These rates are for a 40-year-old with good credit, a clean driving record and a 2012 Toyota Camry across all ZIP codes in the state.
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$159
High
$106
Average
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Low
Rates updated:
Nov 12, 2025
| Insurance Carrier | MoneyGeek ScoreMG Score | Average Monthly Payment | |
|---|---|---|---|
| 1 |  State Farm | 96 /of 100 | $70 |
| 2 |  GEICO | 83 /of 100 | $84 |
| 3 |  Nationwide | 89 /of 100 | $86 |
| 4 |  Farmers | 85 /of 100 | $92 |
| 5 |  Progressive | 84 /of 100 | $109 |
| 6 |  Allstate | 67 /of 100 | $142 |
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Best Car Insurance Rates by Category in New Mexico
Central offers the cheapest rates in four out of our 10 driver categories, while State Farm leads in three categories with affordable rates for drivers with violations. Find your specific rates in the table:
| Young Drivers | Central Insurance | $60 |
| Adult Drivers | Central Insurance | $31 |
| Senior Drivers | State Farm | $47 |
| Drivers With An Accident | Central Insurance | $32 |
| Drivers With A DUI | State Farm | $40 |
| Drivers With A Speeding Ticket | State Farm | $40 |
| Drivers With Bad Credit | Kemper | $77 |
| Drivers With Low Income | Geico | $64 |
| Drivers With Newer Cars | Geico | $49 |
| Drivers With Old Cars | Central Insurance | $26 |
*Rates for the categories above are based on a profile of a 40-year-old with good credit, a clean driving record and a 2012 Toyota Camry across all ZIP codes in the state. Young drivers refer to 16 to 25-year-olds, adults 26 to 64-year-olds and seniors 65+ years of age.
LEARN MORE ABOUT THE BEST CHEAP CAR INSURANCE IN NEW MEXICO
We've created additional guides below to help you in your search for the best and cheapest car insurance in New Mexico:
Compare the Cheapest Car Insurance in New Mexico for You
The tables above show overall winners, but your cheapest option depends on your specific situation. For example, Central offers the lowest rates at $168 monthly for adult drivers with poor credit and an accident record who want 100/300/100 full coverage. Filter the table to match your exact situation:
Data filtered by:
Adult Drivers
Female
100/300/100 Full Cov. w/$1,000 Ded.
Good
At Fault Accident ($1000-$1999 Prop Dmg)
| Central Insurance | $90 | $1,082 | -45% | $-898 |
| Kemper | $122 | $1,461 | -26% | $-519 |
| State Farm | $122 | $1,466 | -26% | $-514 |
| Geico | $132 | $1,587 | -20% | $-393 |
| Nationwide | $197 | $2,363 | 19% | $383 |
*Young drivers refer to 16 to 25-year-olds, adults 26 to 64-year-olds and seniors 65+ years of age.
Cheapest Car Insurance in New Mexico by City
Central Insurance offers the most affordable minimum coverage rates in eight of New Mexico's 20 largest cities, while GEICO and Kemper each claim five markets and State Farm secures two communities. This diverse competitive landscape creates varied pricing opportunities across the state's metropolitan areas as of October 2025.
Minimum coverage costs across New Mexico's major cities range from $25 to $47 monthly. Los Alamos residents enjoy the state's lowest rates at $25 monthly through Central Insurance, while Hobbs drivers face the highest premiums at $47 monthly with GEICO. Central Insurance consistently delivers the most competitive rates in major markets like Albuquerque, Las Cruces, and Santa Fe, with most of its cities maintaining rates below $35 monthly.
Data filtered by:
Alamogordo
| Alamogordo | Kemper | $29 | -28% | $-19 |
*The lowest rate referenced is for a minimum coverage policy for a 40-year-old with good credit and no driving violations.
Cheapest Car Insurance in New Mexico by Driver Age Group
We analyzed car insurance rates across New Mexico for three age groups: young drivers (16 to 25), adult drivers (26 to 64) and seniors (65+). Here are the providers that offer the best deals:
- Young drivers can get the lowest rates from Central Insurance, starting at $60 per month
- Adult drivers find the best deals with Central Insurance, with rates from $31 per month
- Senior drivers see the most affordable coverage through Central Insurance, beginning at $46 per month
Cheapest Car Insurance for Young Drivers in New Mexico
Central Insurance offers the lowest price at $60 per month ($718 per year), about 53% below the state average ($816 in yearly savings). GEICO ($82/mo) and State Farm ($85/mo) are the next cheapest options.
Data filtered by:
State Minimum Liability Only
Male
Good
Clean
| Central Insurance | $60 | $718 | -53% | $-816 |
| Geico | $82 | $983 | -36% | $-551 |
| State Farm | $85 | $1,024 | -33% | $-510 |
| Kemper | $109 | $1,310 | -15% | $-224 |
| Farm Bureau | $132 | $1,578 | 3% | $44 |
*The rates shown reflect individual policies. Younger drivers may qualify for lower premiums when added to a family policy instead of purchasing coverage on their own.
Cheapest Car Insurance for Adult Drivers in New Mexico
Central Insurance is cheapest at $31 per month ($368 per year), roughly 40% below the state average ($250 saved annually). Runners-up are State Farm ($37/mo) and Kemper ($43/mo).
Data filtered by:
State Minimum Liability Only
Male
Good
Clean
| Central Insurance | $31 | $368 | -40% | $-250 |
| State Farm | $37 | $443 | -28% | $-176 |
| Kemper | $43 | $511 | -17% | $-108 |
| Geico | $46 | $558 | -10% | $-61 |
| Farm Bureau | $48 | $578 | -7% | $-40 |
Cheapest Car Insurance for Senior Drivers in New Mexico
For seniors, Central Insurance leads at $46 per month ($554 per year), about 33% under the state average ($276 saved yearly). State Farm ($47/mo) is close behind; GEICO and Kemper land around $57–$58/mo.
Data filtered by:
State Minimum Liability Only
Male
Good
Clean
| Central Insurance | $46 | $554 | -33% | $-276 |
| State Farm | $47 | $563 | -32% | $-266 |
| Geico | $57 | $690 | -17% | $-140 |
| Kemper | $58 | $701 | -16% | $-129 |
| Farm Bureau | $62 | $739 | -11% | $-91 |
Cheapest Car Insurance for High-Risk Drivers in New Mexico
Your driving record has a major impact on car insurance rates in New Mexico. Drivers with clean records usually pay the lowest premiums, while violations like speeding, texting while driving, accidents or DUIs often lead to higher costs. This list shows the cheapest providers in New Mexico for different driving histories.
- Cheapest for Bad Credit: Kemper (From $73 per month)
- Cheapest With a DUI: State Farm (From $40 per month)
- Cheapest With an Accident: Central Insurance (From $31 per month)
- Cheapest With a Speeding Ticket: Central Insurance (From $38 per month)
- Cheapest With a Texting While Driving Violation: Central Insurance (From $36 per month)
Cheapest Car Insurance for Bad Credit in New Mexico
Kemper offers the best rates for drivers with poor credit at $73 monthly ($879 annually), which is 47% below the state average and saves you $790 per year. Central Insurance ($91 monthly) and GEICO ($97 monthly) follow as affordable alternatives.
Data filtered by:
Adult Drivers
State Minimum Liability Only
Male
Clean
| Kemper | $73 | $879 | -47% | $-790 |
| Central Insurance | $91 | $1,096 | -34% | $-573 |
| Geico | $97 | $1,166 | -30% | $-503 |
| Farm Bureau | $102 | $1,219 | -27% | $-449 |
| Nationwide | $129 | $1,551 | -7% | $-118 |
Cheapest Car Insurance With a DUI in New Mexico
After a DUI, State Farm has the lowest rate at $40 per month ($478 per year), around 48% below the state average ($436 saved). Kemper ($49/mo) and Central Insurance ($53/mo) follow.
Data filtered by:
Adult Drivers
State Minimum Liability Only
Male
Good
| State Farm | $40 | $478 | -48% | $-436 |
| Kemper | $49 | $589 | -36% | $-326 |
| Central Insurance | $53 | $631 | -31% | $-284 |
| Geico | $66 | $791 | -14% | $-124 |
| Progressive | $69 | $822 | -10% | $-93 |
Cheapest Car Insurance With an Accident in New Mexico
Post-accident, Central Insurance is lowest at $31 per month ($368 per year), about 56% under the state average ($469 saved). State Farm ($43/mo) and Kemper ($51/mo) are the next best options.
Data filtered by:
Adult Drivers
State Minimum Liability Only
Male
Good
| Central Insurance | $31 | $368 | -56% | $-469 |
| State Farm | $43 | $517 | -38% | $-320 |
| Kemper | $51 | $616 | -26% | $-222 |
| Geico | $56 | $671 | -20% | $-166 |
| Farm Bureau | $77 | $925 | 10% | $88 |
Cheapest Car Insurance With a Speeding Ticket
With a speeding ticket, Central Insurance again leads at $38 per month ($457 per year), roughly 38% cheaper than average ($284 saved). State Farm ($40/mo) is next, then Kemper ($48/mo).
Data filtered by:
Adult Drivers
State Minimum Liability Only
Male
Good
| Central Insurance | $38 | $457 | -38% | $-284 |
| State Farm | $40 | $478 | -35% | $-262 |
| Kemper | $48 | $580 | -22% | $-161 |
| Geico | $54 | $653 | -12% | $-88 |
| Farm Bureau | $58 | $695 | -6% | $-45 |
Cheapest Car Insurance With a Texting While Driving Violation
For a texting citation, Central Insurance is cheapest at $36 per month ($435 per year), about 43% below the state average ($325 saved). State Farm ($40/mo) and Kemper ($48/mo) round out the top picks.
Data filtered by:
Adult Drivers
State Minimum Liability Only
Male
Good
| Central Insurance | $36 | $435 | -43% | $-325 |
| State Farm | $40 | $478 | -37% | $-281 |
| Kemper | $48 | $580 | -24% | $-180 |
| Geico | $55 | $654 | -14% | $-106 |
| Farm Bureau | $58 | $695 | -8% | $-65 |
How to Get the Cheapest Car Insurance in New Mexico
Price isn’t the only thing that matters when shopping for car insurance in New Mexico. Here are a few simple ways to cut costs and save more on auto insurance.
- 1Compare insurers in both urban and rural areas
Car insurance costs in New Mexico differ a lot between cities like Albuquerque, Santa Fe and smaller rural areas.
Drivers in urban locations usually pay more because theft and accident rates are higher, while those in rural areas often spend less but can still save by comparing quotes. Getting estimates from both national and local insurers is the best way to find low rates in your ZIP code.
- 2Meet New Mexico’s minimum requirements
Drivers in New Mexico must carry at least 25/50/10 liability coverage. Insurers are also required to offer uninsured and underinsured motorist protection, though you can decline this in writing. Since these limits don’t provide much coverage, many drivers choose higher limits to avoid large out-of-pocket costs after an accident.
- 3Protect against uninsured drivers
About 20% of New Mexico drivers lack insurance, one of the highest rates nationwide. Adding UM/UIM coverage is an affordable way to protect yourself from major expenses if an uninsured driver hits you.
- 4Take advantage of discounts offered in New Mexico
Most insurers offer discounts for bundling auto with homeowners or renters insurance, covering multiple cars or maintaining good grades as a student.
You can also save by signing up for safe-driver programs, using paperless billing or paying your premium in full. Some companies even give rural drivers low-mileage discounts, which work well if you don’t drive daily.
- 5Match coverage to local risks
Albuquerque has one of the highest vehicle theft rates in the country, so comprehensive coverage is worth considering. In rural parts of the state, drivers deal more with long commutes, wildlife crossings, hail and flash floods. Comprehensive and collision coverage help protect against all of these risks.
- 6Maintain a clean driver profile
Insurers in New Mexico place strong weight on your driving record and credit score when setting rates. Staying ticket-free and maintaining good credit are two of the best ways to keep your premiums low.
- 7Use NMAIP if you cannot get coverage
If you’re unable to get a policy through regular insurers, you can apply for coverage through the New Mexico Automobile Insurance Plan (NMAIP). It guarantees liability protection but usually costs more, so it’s best reserved as a last resort.
Risks of Getting the Cheapest Car Insurance in New Mexico
New Mexico requires drivers to carry liability insurance with minimum coverage of 25/50/10. This means you need $25,000 for injuries to one person, $50,000 total for injuries in one accident and $10,000 for property damage coverage. But minimum coverage leaves you exposed to major financial risks:
Vehicle damage if you're at fault won't be covered
Without collision coverage, you'll pay all repair costs if you cause an accident. In New Mexico, average property damage claims hit $4,800 in 2023, according to the Insurance Information Institute. That money comes straight from your pocket with minimum coverage. Add collision coverage to protect against expensive repairs.
Weather risks make damage to your car more likely and aren't covered
New Mexico gets hit with severe weather that damages cars regularly. Weather-related property damage averaged $3,200 per incident in 2023, with hail and flash floods being common threats. Basic coverage won't pay for weather damage. Add comprehensive coverage to protect against severe weather that frequently hits New Mexico.
Bodily injury damage is more likely to be higher than the minimum limits
New Mexico's minimum bodily injury coverage of $25,000 per person often isn't enough for serious accidents. Average bodily injury claims in New Mexico reached $22,800 in 2023. With rising medical costs, consider increasing coverage to 50/100/50 for better financial protection against lawsuits.
Not having uninsured motorist coverage opens you up to unexpected costs
New Mexico has a serious uninsured driver problem, with 24.1% of drivers lacking insurance according to the Insurance Information Institute. If an uninsured driver hits you, you'll face steep out-of-pocket costs without uninsured motorist coverage. Legal action against uninsured drivers rarely recovers damages. Add uninsured motorist coverage to protect yourself financially in these situations.
Vehicle theft damage is more likely and uncovered
Car theft is a real problem in New Mexico, according to the National Insurance Crime Bureau. Without comprehensive coverage, you get nothing if your car's stolen or damaged during a theft. The average stolen car claim tops $9,000, so adding comprehensive coverage is worth it in high-risk areas.
Minimum Coverage Requirements in New Mexico
New Mexico law requires all drivers to carry liability insurance before driving a vehicle. The state follows an at-fault system, meaning the driver responsible for an accident must pay for the resulting damages. To comply with state law, policies must include bodily injury and property damage liability. While these limits satisfy minimum requirements, many drivers purchase higher coverage to better protect against costly claims.
Coverage Type | Minimum Required Limit |
|---|---|
Bodily Injury Liability (Per Person) | $25,000 per person |
Bodily Injury Liability (Per Accident) | $50,000 per accident |
Property Damage Liability | $10,000 per accident |
Cheap Car Insurance in New Mexico: Bottom Line
GEICO offers the lowest car insurance rates in New Mexico for most drivers and coverage types, according to our analysis. While the cheapest option is tempting, don't make price your only factor. Get as much coverage as you can afford to protect your finances when accidents happen.
Cheap Car Insurance in New Mexico: FAQ
Below we answer common questions about car insurance to help you find the right coverage at affordable rates.
What are the cheapest car insurance companies in New Mexico?
GEICO provides the most affordable car insurance in New Mexico, with average annual rates of $552 for minimum coverage and $1,140 for full coverage. Central, State Farm, Kemper and Progressive also offer competitive rates.
Who has the cheapest car insurance rates for young drivers in New Mexico?
Central offers the lowest rates for young drivers in New Mexico at $60 monthly for minimum coverage.
Who offers the cheapest car insurance rates for seniors in New Mexico?
State Farm has the best rates for seniors in New Mexico, starting at $47 monthly for drivers 65 and older.
Who has the cheapest car insurance in New Mexico for bad credit?
Kemper has the lowest rates for drivers with bad credit in New Mexico, averaging $77 monthly for minimum coverage and $170 monthly for full coverage.
Who has the cheapest car insurance in New Mexico with an accident?
Central offers the lowest rates for New Mexico drivers with an accident at $32 monthly for minimum coverage.
Who has the cheapest car insurance in New Mexico with a DUI?
State Farm has the cheapest car insurance after a DUI in New Mexico at $40 monthly for minimum coverage and $117 monthly for full coverage.
Who has the cheapest car insurance in New Mexico for those with a speeding ticket?
State Farm offers the lowest rates for New Mexico drivers with a speeding ticket at $40 monthly for minimum coverage and $117 monthly for full coverage.
How We Found the Most Affordable Car Insurance in New Mexico
MoneyGeek collected auto insurance data from the New Mexico Department of Insurance and Quadrant Information Services. We analyzed quotes from 12 major insurers and reviewed more than 200 million rate comparisons across every residential ZIP code in New Mexico.
New Mexico Driver Profile
Our analysis started with a standard driver profile to find the cheapest rates:
- 40-year-old male
- 2012 Toyota Camry LE
- Clean driving record
- 12,000 miles driven annually
- Good credit
- Valid license
- Currently insured
- No claims history
We adjusted this sample profile, as specified, to find the cheapest option for various driver backgrounds.
Standard Coverage Levels in New Mexico
We compared car insurance companies in New Mexico that offer minimum and full coverage policies. We set the limits of the minimum coverage car insurance policy to the minimum amount required by law in New Mexico.
The minimum coverage liability limits in New Mexico are:
- $25,000 per person for bodily injury
- $50,000 per accident for bodily injury
- $10,000 per accident for property damage
For full coverage policy rates, we used the following liability limits:
- $100,000 for bodily injury liability per person
- $300,000 for bodily injury liability per accident
- $100,000 for property damage liability
- Comprehensive and collision coverage with a $1,000 deductible
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.