Non-Owner Car Insurance in New Mexico: The Cheapest Options and What You Need to Know

The average annual cost of non-owner car insurance in New Mexico is $521. GEICO offers the cheapest non-owner car insurance in the state at $247 per year. MoneyGeek’s guide will teach you about non-owner car insurance in New Mexico and help you find the best options.

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Last Updated: 8/16/2022

If you rent cars regularly or need proof of insurance to get your license reinstated, then non-owner car insurance could be a good option for you.

For drivers in New Mexico with a clean driving record, non-owner car insurance costs $521 per year on average. This could go up to $851 per year on average for drivers with a serious driving violation, such as a DUI.

MoneyGeek analyzed the insurance costs of companies that offer non-owner car insurance and discussed when you should or shouldn’t get a non-owner policy.

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Cheapest Non-Owner Car Insurance Companies in New Mexico

Non-owner car insurance is cheaper than standard policies, and you can still save money by shopping around.

According toMoneyGeek’s analysis, the cheapest non-owner car insurance policies in New Mexico, on average, are offered by:

  • GEICO: $247 per year
  • State Farm: $558 per year

At an average of $633 per year, Farmers offers the most expensive non-owner car insurance in New Mexico.

These average rates are for a 40-year-old male driver with a non-owner car insurance policy in New Mexico with limits detailed in MoneyGeek’s methodology.

Cheapest Non-Owner Car Insurance Companies in New Mexico

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  • Company
    Annual Premium
    Monthly Premium
  • GEICO
    $247
    $21
  • State Farm
    $558
    $47
  • Progressive
    $565
    $47
  • MetLife
    $604
    $50
  • Farmers
    $633
    $53
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How Much Is Non-Owner Car Insurance in New Mexico?

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The average cost of non-owner car insurance in New Mexico is $521 per year. This is lower than the average cost of standard auto insurance, which is $706 per year.

There is a significant difference in the costs of non-owner and standard insurance policies for drivers with serious driving violations, such as a DUI. For drivers with a DUI, non-owner car insurance costs an average of $851 per year, while a standard policy costs roughly $1,300 annually.

Cheapest DUI Non-Owner Car Insurance Companies in New Mexico

If you have a history of driving violations, such as a DUI, and are looking to get insurance in New Mexico without owning a car, non-owner car insurance might be the cheapest option.

On average, the following companies in New Mexico provide the cheapest non-owner car insurance for drivers with serious violations:

  • State Farm: $558 per year
  • Progressive: $671 per year

MetLife offers the most expensive policy in this category at an average of $1,443 per year.

Cheapest DUI Non-Owner Car Insurance Companies in New Mexico

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  • Company
    Annual Premium
    Monthly Premium
  • State Farm
    $558
    $47
  • Progressive
    $671
    $56
  • GEICO
    $720
    $60
  • Farmers
    $865
    $72
  • MetLife
    $1,443
    $120
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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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What Is Non-Owner Car Insurance in New Mexico?

Non-owner car insurance is also called non-owner liability insurance and is the best option when you need insurance but don’t own a car. It includes liability insurance and other coverages required by New Mexico.

You can add uninsured or underinsured motorist coverage to your non-owner insurance. Keep in mind that non-owner insurance in New Mexico does not include comprehensive and collision insurance, also known as full coverage.

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Non-owner car insurance policies in New Mexico must meet the following minimum coverage requirements:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $10,000 property damage liability per accident

Who Should Get Non-Owner Car Insurance in New Mexico?

A non-owner car insurance policy is not for everyone, but it can be a great option for you if:

  • You need insurance to get your license reinstated: If your license has been suspended due to a violation, you will need proof of insurance to get it reinstated. In this situation, a non-owner insurance policy can be your cheapest option.
  • You frequently rent cars or use car-sharing services: With non-owner car insurance, you are protected in case of an accident while driving a rented or borrowed car. The policy’s liability insurance will pay for third-party injuries and property damage. Better yet, it can be cheaper than using rental car insurance.
  • You temporarily don’t have a car but want to maintain insurance coverage to avoid a lapse: If you currently do not own a car but want to avoid having an insurance coverage lapse that can cause increased car insurance rates later on, getting a non-owner policy is the most affordable option.

Who Shouldn’t Get Non-Owner Car Insurance in New Mexico?

It is not always necessary to have non-owner insurance. For example, if you live in Albuquerque and drive a friend’s car with their permission, you will be covered under their insurance policy.

It is also unnecessary to have non-owner auto insurance in New Mexico if you only occasionally rent cars. If you’re only going to rent cars once or twice a year, buying rental car insurance will be sufficient and is cheaper.

How to Get Non-Owner Car Insurance in New Mexico

MoneyGeek has confirmed that all the companies mentioned in this guide provide non-owner car insurance quotes. However, you generally cannot get non-owner car insurance quotes online. The best way to get a non-owner insurance policy in New Mexico is to contact the insurers for more information using the contact details listed below.

Contact Non-Owner Car Insurance Companies in New Mexico
  • Company
    Contact Number
  • GEICO
    800-207-7847
  • State Farm
    800-782-8332
  • Progressive
    888-671-4405
  • MetLife
    800-422-4272
  • Farmers
    888-327-6335

Frequently Asked Questions About New Mexico Non-Owner Car Insurance

Non-owner car insurance is not the same as a standard insurance policy, which may cause some confusion for people. To help you better understand the differences, here are the answers to some of the most frequently asked questions about non-owner car insurance in New Mexico:

Methodology

Non-owner car insurance quotes were collected from insurers across New Mexico in collaboration with Quadrant Information Services. We collected quotes for a 40-year-old male driver with a safe driving record and a DUI.

All policies met the minimum coverage requirements in New Mexico except for liability insurance. These policies have:

  • $50,000 in bodily injury liability per person
  • $100,000 in bodily injury liability per accident
  • $50,000 in property damage liability per accident

The data used for traditional car insurance policies have the same limits.