Shopping around for the best deal on car insurance may help you save money, even if premiums might be high. We compared the premiums offered by seven of the most prominent insurance providers in New Mexico to give you an idea of where you should begin your search. Find who has the best cheap car insurance in new Mexico?
Good Drivers
The cost of car insurance for safe drivers is far lower than the rates charged to motorists whose driving histories include claims, accidents, and citations. If you are a safe driver in New Mexico, consider receiving insurance rates from Geico and State Farm. USAA is a fantastic option for those currently serving in the armed forces, veterans, or family members of current service members.
- Geico: $1,065
- USAA: $1,072
- State Farm: $1,218
- State Average: $1,692
Drivers With A Speeding Ticket
Receiving a citation for speeding might put a strain on your finances. Not only do you have to pay the fine, but your car insurance premiums will almost certainly go up. According to the findings of an investigation conducted by Forbes Advisor, a speeding ticket raises rates by an average of 18 percent in the state of New Mexico. However, the average rate rise imposed by State Farm, USAA, and Geico is just 11%, while the average rate increase imposed by State Farm is only 7%. When renewing your auto insurance after a speeding citation, get rates from State Farm, Geico, and USAA (if you qualify for any of them).
- State Farm: $1,305
- USAA: $1,334
- Geico: $1,380
- State Average: $1,998
Drivers who caused the accident with injury
In New Mexico, theft increased by 37% whenever an accident resulted in a personal injury. That's a difference of more than $600. However, by shopping about and comparing several estimates for car insurance, you should discover prices that are reasonable for your circumstances.
Try State Farm and Geico if you live in New Mexico and are seeking more affordable car insurance options. Additionally, the prices for USAA vehicle insurance, which is exclusively available to veterans, active duty military personnel, and their families, are quite competitive.
- State Farm: $1,305
- USAA: $1,537
- Geico: $1,773
- State Average: $2,314
Drivers With A DUI
Following a conviction for driving under the influence, car insurance premiums in New Mexico typically rise by a percentage equal to 48 percent. However, not every insurance will raise your premiums by as much after a DUI conviction.
Consider receiving estimates from State Farm and Progressive if you have a DUI conviction. For example, State Farm only raises rates by an average of 7% after a DUI, while Progressive only raises premiums by 10%.
- State Farm: $1,305
- Progressive: $2,098
- USAA: $2,119
- Geico: $2,255
- State Average: $2,496
Drivers With Poor Credit
A key contributor to higher auto insurance premiums in New Mexico is a car's history of credit problems. According to the findings of our investigation of major insurance providers in the state, auto insurance firms charge drivers with a low credit history 52% more than they charge drivers with excellent credit, which amounts to a difference of approximately $900 per year.
Try Geico and State Farm if you seek cheap car insurance in New Mexico. Although USAA provides outstanding prices for New Mexico drivers with low credit, the firm does not sell vehicle insurance to civilians but only to military veterans, active-duty service members, and the families of those individuals. Even if you have credit that isn't perfect, you may still qualify for car insurance discounts that can help offset the higher premium you pay.
- Geico: $1,592
- USAA: $1,882
- State Farm: $2,383
- State Average: $2,579
Drivers Ages 18 To 25
By comparing several insurance rates in Mexico, even inexperienced drivers can get affordable auto coverage. Check out the prices offered by USAA if you are a veteran, a member of the armed forces, or an eligible family member. Aside from that, the rates that Geico and State Farm offer young drivers are far lower than the state average for their age group.
- USAA: $1,604
- Geico: $1,637
- State Farm: $2,040
- State Average: $2,697
Drivers Age 65+
When they reach their late 60s, seniors often see an increase in the amount they pay for car insurance. If you are a senior driver in New Mexico and are seeking rates that are within your budget, you should get estimates from Geico, State Farm, and USAA (if you qualify).
- Geico: $1,116
- USAA: $1,238
- State Farm: $1,248
- State Average: $1,769
