The average cost of car insurance in New Mexico is $2,210 per year for full coverage, which is 2.9% less expensive than the national average rate of $2,276. Car insurance cost per month in New Mexico averages $184.
The next chart shows car insurance cost in New Mexico when averaged for all 2024 models. Rates are shown for multiple driver ages and policy deductible amounts.
Figure 1: Average full-coverage car insurance premium in New Mexico for different ages of drivers. Rates updated on October 24, 2025.
Data Methodology: Average premiums are based on all 2024 model year vehicles. Rates assume a clean driving record and no claims or at-fault accidents. Comprehensive and collision coverage is included as well as UM/UIM and medical payments coverage. Premiums are averaged across all New Mexico Zip Codes.
Average Car Insurance Cost in New Mexico
Driver Age
Deductible
Annual Premium
Cost Per Month
20
$1,000
$3,764
$314
$500
$4,448
$371
$250
$5,170
$431
30
$1,000
$1,974
$165
$500
$2,356
$196
$250
$2,754
$230
40
$1,000
$1,862
$155
$500
$2,210
$184
$250
$2,576
$215
50
$1,000
$1,654
$138
$500
$1,958
$163
$250
$2,274
$190
60
$1,000
$1,550
$129
$500
$1,832
$153
$250
$2,128
$177
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Premium is averaged for all New Mexico Zip Codes. Updated October 24, 2025
The overall average rate in the chart above is the $500 deductible policy for a 40-year-old driver which costs $2,210 per year in New Mexico, or about $184 per month. When all other variables stay the same, car insurance gets cheaper as you age (up to about age 65), and higher deductibles will cost less than low deductibles.
One of the biggest factors that determines how much you’ll pay for car insurance is the type of vehicle you drive. The chart below shows average rates in New Mexico for ten of the more popular vehicles sold in the state.
Figure 2: Average cost to insure popular 2024 model year vehicles in New Mexico. Rates updated on October 24, 2025.
Data Methodology: Average car insurance cost is based on 2024 model year vehicles with safe driver and claim-free discounts applied. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Rates are averaged for all New Mexico Zip Codes.
New Mexico Car Insurance Rates for Popular Vehicles
Make/Model
Annual Premium
Cost Per Month
Honda CR-V
$1,882
$157
Honda Civic
$1,956
$163
Nissan Rogue
$1,984
$165
Chevrolet Equinox
$2,032
$169
Toyota RAV4
$2,036
$170
Toyota Corolla
$2,152
$179
Toyota Camry
$2,372
$198
Chevrolet Silverado
$2,442
$204
Ford F150
$2,470
$206
Ram Truck
$2,554
$213
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Premium is averaged for all trim levels available for each vehicle for the 2024 model year and also for all New Mexico Zip Codes. Updated October 24, 2025
Later in this article, we will rank the top 75 cheapest vehicles to insure in New Mexico. Out of the ten popular vehicles shown above, the six cheapest make it into the top 75. The Toyota RAV4, Toyota Camry, Chevy Silverado, and Ram 1500 pickup all have higher average costs which keep them off the list.
Many other factors impact the cost of car insurance such as your driving record and the discounts you qualify for. The list below breaks out some of these factors and how they may change the cost of car insurance in New Mexico.
Insuring your car with the same company that insures your home could save an average of $286 per year. This is called “bundling” your coverage.
Having an at-fault accident could trigger a rate increase of up to $916 each year.
Earning multiple policy discounts could save as much as $686 per year. These discounts include things like multi-vehicle, multi-policy, safe driver, claim-free, customer loyalty, and others.
Even minor traffic citations like failure to yield or a speeding ticket could increase the annual cost of car insurance in New Mexico by $584 per year.
Increasing policy deductibles from $100 to $1,000 could save $1,032 or more each year. Just ensure you have adequate financial resources to cover a higher deductible.
Insuring multiple vehicles on one policy could save as much as $116 per year.
A DUI or other major driving violation could cause rates to increase by $2,052 or more per year.
How expensive is car insurance in New Mexico?
When compared to surrounding states, New Mexico car insurance rates are 8% less than Texas, 19.9% less than Oklahoma, 17.9% less than Colorado, 7.2% less than Arizona, and 4.1% less than Utah.
In dollar figures, the $2,210 per year average cost of car insurance in New Mexico will cost $184 per year less than in Texas, $488 less than in Oklahoma, $434 less than in Colorado, $166 less than in Arizona, and $92 less per year than in Utah.
The chart below shows how New Mexico compares to the other Southeast region states of Arizona, Texas, and Oklahoma.
Figure 3: Average cost of car insurance in New Mexico compared to other Southwest region states. Rates updated on October 24, 2025.
Average Car Insurance Cost in New Mexico Compared to Southwest Region
Southwest Region States
Average Annual Premium
Cost Difference
New Mexico
$2,210
--
Arizona
$2,376
$166
Texas
$2,394
$184
Oklahoma
$2,698
$488
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Premium is averaged for all 2024 model year vehicles and also for all New Mexico Zip Codes. Updated October 24, 2025
Since New Mexico ranks 13th overall for cheapest car insurance rates in the U.S, it compares favorably to many other states with higher rates.
When compared to some of the higher-prices states, the average cost of car insurance in New Mexico is 23.4% cheaper than New York, 26.5% cheaper than New Jersey, 23.3% cheaper than Florida, 25.6% cheaper than Nevada, and 26.5% cheaper than California.
There are some states that have cheaper average car insurance rates than New Mexico, however. When compared to a few of those states, average New Mexico car insurance cost is 19% more expensive than Maine, 13.3% more expensive than Virginia, 12.9% more expensive than Iowa, and 16.9% more expensive than North Carolina.
New Mexico car insurance cost by vehicle segment
The chart below shows the average cost of car insurance in New Mexico broken down by each automotive segment. Small SUVs like the Honda CR-V, Mazda CX-30, and Kia Sportage tend to have some of the cheapest rates, while luxury models and sports cars tend to have the highest overall rates.
Figure 4: Car insurance average cost by automotive segment in New Mexico. Rates updated on October 24, 2025.
Data Methodology: Car insurance premium by automotive segment is based on 2024 model year vehicles. The rated driver is a 40-year-old male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and rates are averaged for all New Mexico Zip Codes.
Car Insurance Rates by Automotive Segment in New Mexico
Automotive Segment
Annual Premium
Cost Per Month
Compact SUV
$2,030
$169
Midsize SUV
$2,180
$182
Compact Car
$2,182
$182
Minivan
$2,184
$182
Midsize Pickup
$2,228
$186
Midsize Car
$2,252
$188
Compact Luxury SUV
$2,394
$200
Compact Luxury Car
$2,428
$202
Large SUV
$2,438
$203
Half-ton Pickup
$2,448
$204
Heavy Duty Pickup
$2,540
$212
Midsize Luxury SUV
$2,622
$219
Midsize Luxury Car
$2,708
$226
Sports Car
$3,036
$253
Large Car
$3,176
$265
Large Luxury SUV
$3,418
$285
Large Luxury Car
$3,536
$295
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Premium is averaged for all 2024 model year vehicles and also for all New Mexico Zip Codes. Updated October 24, 2025
The list above is great for comparing the average car insurance cost between different vehicle types. But if you want to know the cheapest model in each segment, the list below is for you.
Cheapest compact car insurance – Toyota GR Corolla at $1,918 per year or $160 per month
Cheapest compact SUV insurance – Subaru Crosstrek at $1,632 per year or $136 per month
Cheapest midsize car insurance – Kia K5 at $2,126 per year or $177 per month
Cheapest midsize SUV insurance – Honda Passport at $1,758 per year or $147 per month
Cheapest full-size car insurance – Chrysler 300 at $2,104 per year or $175 per month
Cheapest full-size SUV insurance – Chevrolet Tahoe at $2,072 per year or $173 per month
Cheapest midsize pickup insurance – Chevrolet Colorado at $1,946 per year or $162 per month
Cheapest full-size pickup insurance – Nissan Titan at $2,066 per year or $172 per month
Cheapest heavy duty pickup insurance – GMC Sierra 2500 HD at $2,248 per year or $187 per month
Cheapest minivan insurance – Honda Odyssey at $2,016 per year or $168 per month
Cheapest sports car insurance – Mazda MX-5 Miata at $2,042 per year or $170 per month
Cheapest compact luxury car insurance – Acura Integra at $1,962 per year or $164 per month
Cheapest compact luxury SUV insurance – Acura RDX at $1,846 per year or $154 per month
Cheapest midsize luxury car insurance – Mercedes-Benz CLA250 at $2,270 per year or $189 per month
Cheapest midsize luxury SUV insurance – Jaguar E-Pace at $2,064 per year or $172 per month
Cheapest full-size luxury car insurance – Audi A5 at $2,624 per year or $219 per month
Cheapest full-size luxury SUV insurance – Infiniti QX80 at $2,476 per year or $206 per month
What vehicles have cheap car insurance in New Mexico?
The vehicles with the cheapest average auto insurance prices in New Mexico, tend to be small SUVs and crossovers like the Kia Soul, Chevrolet Trailblazer, Nissan Kicks, and Buick Envision.
Average insurance rates for those small SUVs cost $1,770 or less per year for full coverage car insurance.
Some other models that are highly ranked in the cost comparison table are the Honda CR-V, Buick Encore, Acura RDX, and Nissan Murano. The average rates are marginally higher for those models than the crossovers and compact SUVs that rank at the top, but they still have an average cost of $157 or less per month.
The table below shows the top 75 vehicles with cheap New Mexico car insurance quotes from the 2024 model year.
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Premium is averaged for all trim levels available for each vehicle and also for all New Mexico Zip Codes. Updated October 24, 2025
Top 75 cheapest vehicles to insure in New Mexico with the Subaru Crosstrek ranking first at $1,632 per year
Driver risk factors influence car insurance rates
We use a lot of average rates in our car insurance comparisons, but it’s important to show some examples of how much rates can vary based on different risk factors.
The charts below take some popular models from different segments and show rates for different scenarios like for a high-risk driver, for difference age groups, and for different policy deductibles.
Plotting them all on the same chart allows you to see how significantly rates can vary simply by have a different age of driver or a poor driving record.
Ram 1500 pickup insurance rates
Ram 1500 insurance in New Mexico costs an average of $2,554 per year and ranges from $2,118 to $5,886 per year for the sample driver risk profiles shown in the chart below.
Data Methodology: Average rates are for a 2024 model year Ram Truck with safe driver and claim-free discounts applied to qualifying risk profiles. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Average Ram Truck car insurance cost in New Mexico includes all Zip Codes and vehicle trim levels.
2024 Ram Truck Insurance Cost in New Mexico
Driver Risk Profile
Annual Premium
Cost Per Month
High Risk Driver Age 30
$5,886
$491
Safe Driver Age 20
$5,148
$429
At-fault Accidents Age 40
$3,620
$302
Low Deductibles Age 40
$3,340
$278
Safe Driver Age 30
$2,726
$227
Safe Driver Age 40
$2,554
$213
Safe Driver Age 50
$2,264
$189
High Deductibles Age 40
$2,152
$179
Safe Driver Age 60
$2,118
$177
Discount Rate Age 40
$2,118
$177
Data Methodology: Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Rates are averaged for all 2024 Ram Truck trim levels. Updated October 24, 2025
Ford Ranger insurance rates
Ford Ranger insurance rates in New Mexico range from $1,752 to $4,872 per year for the driver profiles in the chart below. Ford Ranger insurance costs an average of $2,108 per year or $176 per month in New Mexico.
Data Methodology: Average rates are for a 2024 model year Ford Ranger with safe driver and claim-free discounts applied to qualifying risk profiles. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Average Ford Ranger car insurance cost in New Mexico includes all Zip Codes and vehicle trim levels.
2024 Ford Ranger Insurance Cost in New Mexico
Driver Risk Profile
Annual Premium
Cost Per Month
High Risk Driver Age 30
$4,872
$406
Safe Driver Age 20
$4,262
$355
At-fault Accidents Age 40
$3,000
$250
Low Deductibles Age 40
$2,738
$228
Safe Driver Age 30
$2,248
$187
Safe Driver Age 40
$2,108
$176
Safe Driver Age 50
$1,872
$156
High Deductibles Age 40
$1,786
$149
Safe Driver Age 60
$1,754
$146
Discount Rate Age 40
$1,752
$146
Data Methodology: Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Rates are averaged for all 2024 Ford Ranger trim levels. Updated October 24, 2025
Nissan Sentra insurance rates
The chart below shows average Nissan Sentra insurance rates in New Mexico for different driver ages and risk profiles. Annual cost ranges from $1,682 to $4,600 per year for the example driver risk profiles, with average cost being $2,022 per year.
Data Methodology: Average rates are for a 2024 model year Nissan Sentra with safe driver and claim-free discounts applied to qualifying risk profiles. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Average Nissan Sentra car insurance cost in New Mexico includes all Zip Codes and vehicle trim levels.
2024 Nissan Sentra Insurance Cost in New Mexico
Driver Risk Profile
Annual Premium
Cost Per Month
High Risk Driver Age 30
$4,600
$383
Safe Driver Age 20
$4,002
$334
At-fault Accidents Age 40
$2,866
$239
Low Deductibles Age 40
$2,558
$213
Safe Driver Age 30
$2,148
$179
Safe Driver Age 40
$2,022
$169
Safe Driver Age 50
$1,808
$151
High Deductibles Age 40
$1,740
$145
Safe Driver Age 60
$1,686
$141
Discount Rate Age 40
$1,682
$140
Data Methodology: Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Rates are averaged for all 2024 Nissan Sentra trim levels. Updated October 24, 2025
Toyota RAV4 insurance rates
Average Toyota RAV4 insurance rates in New Mexico as shown in the chart below range from $1,694 to $4,688 per year, with the average cost being $2,036.
Data Methodology: Average rates are for a 2024 model year Toyota RAV4 with safe driver and claim-free discounts applied to qualifying risk profiles. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Average Toyota RAV4 car insurance cost in New Mexico includes all Zip Codes and vehicle trim levels.
2024 Toyota RAV4 Insurance Cost in New Mexico
Driver Risk Profile
Annual Premium
Cost Per Month
High Risk Driver Age 30
$4,688
$391
Safe Driver Age 20
$4,094
$341
At-fault Accidents Age 40
$2,890
$241
Low Deductibles Age 40
$2,636
$220
Safe Driver Age 30
$2,168
$181
Safe Driver Age 40
$2,036
$170
Safe Driver Age 50
$1,810
$151
High Deductibles Age 40
$1,728
$144
Safe Driver Age 60
$1,694
$141
Discount Rate Age 40
$1,694
$141
Data Methodology: Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Rates are averaged for all 2024 Toyota RAV4 trim levels. Updated October 24, 2025
Ford Expedition insurance rates
The average cost for Ford Expedition insurance in New Mexico is $2,380 per year. The chart below shows rates for additional driver profiles with prices ranging from $1,980 to $5,452 per year.
Figure 9: Average 2024 Ford Expedition insurance premiums in New Mexico for different driver ages and risk scenarios. Rates updated on October 24, 2025.
Data Methodology: Average rates are for a 2024 model year Ford Expedition with safe driver and claim-free discounts applied to qualifying risk profiles. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Average Ford Expedition car insurance cost in New Mexico includes all Zip Codes and vehicle trim levels.
2024 Ford Expedition Insurance Cost in New Mexico
Driver Risk Profile
Annual Premium
Cost Per Month
High Risk Driver Age 30
$5,452
$454
Safe Driver Age 20
$4,778
$398
At-fault Accidents Age 40
$3,350
$279
Low Deductibles Age 40
$3,166
$264
Safe Driver Age 30
$2,546
$212
Safe Driver Age 40
$2,380
$198
Safe Driver Age 50
$2,102
$175
Discount Rate Age 40
$1,980
$165
High Deductibles Age 40
$1,974
$165
Safe Driver Age 60
$1,968
$164
Data Methodology: Comprehensive and collision deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others which vary by company. Rates are averaged for all 2024 Ford Expedition trim levels. Updated October 24, 2025
New Mexico car insurance rates by city
Listed below are some of the larger cities in New Mexico and the average annual and monthly car insurance costs for each. Visit any page to view additional rate information, including average costs, rate comparisons, and the vehicles with the cheapest car insurance quotes in each city.
