Cheap Car Insurance Rates in New Mexico (2023)

Compare Auto Insurance Rates in Nex Mexico

New Mexico Auto Insurance

Finding cheap auto insurance that covers everything you need is like encountering a UFO, and unless you're in Roswell, it's not easy. Fortunately, the best thing you can do before deliberating over multiple quotes and deals from insurance companies is to arm yourself with essential information about auto insurance in New Mexico. Understanding things like how cost varies by age, New Mexico driving laws, and insurance requirements will give you a better idea of what your rate should be as soon as you start shopping.

Car Insurance Requirements in New Mexico

Although there are plenty of good reasons to include additional coverage for your vehicle, knowing the minimum car insurance laws can help you develop a baseline when shopping around. According to the New Mexico Motor Vehicle Division, New Mexico minimum auto insurance requirements include the following:

  • $25,000 for bodily injury to or death of one person,
  • $50,000 for bodily injury to or death of two or more persons, and
  • $10,000 for property damage in any one accident.

All of these fall under the category of liability, but wouldn't cover your own expenses if you were found at fault for the accident.

Is New Mexico a No-Fault State?

New Mexico is a fault state, which means that the driver found to be at fault for the accident is solely responsible for all damages incurred.


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Car Insurance Prices in New Mexico

The average car insurance premium in the state of New Mexico is about $1,331 per year, which is 6.8 percent lower than the national average. Younger drivers tend to pay higher premiums on average, with auto insurance running about $6,861 per year for a 16-year-old driver, compared to just $1,188 for a driver in his or her 50s.


<qa>1;Car Insurance for Young Drivers, New Drivers, and Teen Drivers;The cost of car insurance for 16-18 year olds in New Mexico ranges from an average yearly rate of $6,860.97 to $5,092.75. </qa> 

<qa>2;Car Insurance for Students (18-24 Year Olds) in New Mexico;In addition to the rising costs of college tuition, young people in this age group are also saddled with relatively higher car insurance rates. Although rates start out over $5,000 for this age group, rates decline dramatically once a student enters his or her twenties, with an average car insurance rate of $1,726.11.</qa> 

<qa>3;Car Insurance for 24+ Year Olds in New Mexico;By the time a driver reaches his or her late twenties, annual car insurance rates begin to average out to about $1,200 and remain that way throughout most of their adult life.</qa> 

<qa>4;Car Insurance for 55 (and Over) in New Mexico;Yearly car insurance rates in New Mexico remain relatively stable at around $1,200 for drivers in their 50s and 60s. It is only when a driver reaches their 70s that the rates slightly increase at an average of $1,577.96.</qa> 

<qa>5;Car Insurance for Veterans in New Mexico;Many insurance providers in New Mexico offer special discounts to veterans and other service members who help keep our country safe. Since discounts vary, ask your insurance provider about specific discount opportunities.</qa>


AgeMost Popular VehicleGenderMost Common City
18 - 24          ChevroletMale - 61% | Female - 39%      Albuquerque
25 - 54          ChevroletMale - 42% | Female - 58%      Albuquerque
55 - 64            FordMale - 38% | Female - 62%      Albuquerque
65 +            FordMale - 45% | Female - 55%      Albuquerque

* This information is based on users.


Traffic Violations and Fines in New Mexico

Speeding Ticket Cost in New Mexico

The average cost of a speeding ticket for driving fewer than 10 miles over the speed limit is $120 with $65 in fees, totalling $185. However, if you are going nearly 30 miles over the speed limit, this is considered reckless driving in New Mexico and will come with a $320 fine and $65 in court fees, totalling a staggering $385. 

Driving While High Laws in New Mexico

Although it is nominally illegal to drive while high in New Mexico, the law states that, "The state must prove to your satisfaction beyond a reasonable doubt...the defendant was under the influence of drugs to such a degree that the defendant was incapable of safely driving a vehicle."

Driving Without Car Insurance in New Mexico

The penalties for driving without insurance is either a $300 fine or up to 90 days of jail time. In some cases, a driver may be hit with both penalties.

Texting and Driving in New Mexico

In 2014, New Mexico enacted a statewide distracted driving ban on cell phone use while driving that made it illegal for drivers to text or talk on the phone while driving. Other forms of distracted driving that can come with penalties in the state include eating while driving and reading while driving.


<twitter>Cab drivers, and presumably now Uber drivers, cannot reach out and pull potential customers into their taxis—it's against the law.</twitter>


New Mexico Car Accidents

According to a 2016 report (most recent available) of car accident statistics compiled by researchers at the University of New Mexico, there were 123 crashes on an average day in New Mexico, involving 313 people with 56 injured and 1 killed. Total car accident statistics in New Mexico amounted to 45,071 traffic accidents in the state in 2016.

Reasons for Car Accidents in New Mexico

This same report indicated that the top contributing factors in car accidents included driver inattention (21 percent), alcohol or drug involvement (50 percent), failure to yield right of way (14 percent), excessive speed (11 percent), and following too closely (12 percent). About 62 percent of pedestrians killed in crashes were under the influence of alcohol.

Car Accident Statistics by Vehicle Type in New Mexico

Car accidents involving heavy trucks rose to 2,326 in 2016, which is their highest level in the past five years. The vehicles most often in crashes were passenger vehicles (53.3 percent), pickup trucks (18.2 percent), and van/SUV/4-wheel drive vehicles (16.9 percent). 

Car Accidents in New Mexico - More Facts

On average in New Mexico,

  • A motor vehicle crash occurred every 12 minutes.
  • In Bernailo County, a crash occurred every 27 minutes.
  • An alcohol-involved crash occurred every 4 hours.


Bonus: Most Weird, Funny, and Ridiculous Traffic Laws in New Mexico

  • Though it's unlikely to be the cause of hydroplaning, spitting on a roadway in New Mexico is a petty misdemeanor.
  • Women in New Mexico probably break the law on a daily basis, since it's technically illegal for any woman to pump her own gas or change a flat tire.


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