New Mexico Car Insurance Cost for 2023

What is average car insurance cost in New Mexico? We break down average insurance rates and find the vehicles with the cheapest auto insurance quotes.

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How much does car insurance cost in New Mexico?

The average cost of car insurance in New Mexico is $1,450 per year for full coverage, which is 13.9% less expensive than the national average rate of $1,685. Car insurance cost per month in New Mexico averages $121.

The next chart shows car insurance cost in New Mexico when averaged for all 2023 models. Rates are shown for multiple driver ages and policy deductible amounts.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Chart shows average New Mexico car insurance rates for 2023 model year vehicles with safe driver and claim-free discounts applied. Full-coverage rates are averaged for all New Mexico zip codes.Data last updated on December 30, 2022
Average Car Insurance Cost in New Mexico
Average Car Insurance Cost in New Mexico
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$2,442$204
$500$2,884$240
$250$3,350$279
30$1,000$1,278$107
$500$1,528$127
$250$1,784$149
40$1,000$1,224$102
$500$1,450$121
$250$1,686$141
50$1,000$1,116$93
$500$1,320$110
$250$1,534$128
60$1,000$1,096$91
$500$1,298$108
$250$1,506$126

The overall average rate in the chart above is the $500 deductible policy for a 40-year-old driver which costs $1,450 per year in New Mexico, or about $121 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.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average New Mexico car insurance cost is based on 2023 model year vehicles with safe driver and claim-free discounts applied. Physical damage deductibles are $500 and rates are averaged for all New Mexico Zip Codes.Data last updated on December 29, 2022
New Mexico Car Insurance Rates for Popular Vehicles
New Mexico Car Insurance Rates for Popular Vehicles
Make/Model Annual Rate Monthly Rate
Honda CR-V$1,228$102
Chevrolet Equinox$1,306$109
Nissan Rogue$1,334$111
Toyota RAV4$1,344$112
Toyota Corolla$1,362$114
Toyota Camry$1,378$115
Honda Civic$1,420$118
Ford F150$1,474$123
Ram Truck$1,584$132
Chevrolet Silverado$1,586$132

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 $186 per year. This is called “bundling” your coverage.
  • Having an at-fault accident could trigger a rate increase of up to $596 each year.
  • Earning multiple policy discounts could save as much as $452 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 $382 per year.
  • Increasing policy deductibles from $100 to $1,000 could save $666 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 $76 per year.
  • A DUI or other major driving violation could cause rates to increase by $1,332 or more per year.

How expensive is car insurance in New Mexico?

When compared to surrounding states, New Mexico car insurance rates are 11.5% less than Texas, 25.6% less than Oklahoma, 23.4% less than Colorado, 10.4% less than Arizona, and 6.2% less than Utah.

In dollar figures, the $1,450 per year average cost of car insurance in New Mexico will cost $188 per year less than in Texas, $498 less than in Oklahoma, $442 less than in Colorado, $168 less than in Arizona, and $96 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.

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New Mexico Car Insurance Cost Compared to Southwest Region
Average Car Insurance Cost in New Mexico Compared to Southwest Region
Southwest Region States Average Insurance Cost Annual Difference
New Mexico$1,450--
Arizona$1,618$168
Texas$1,638$188
Oklahoma$1,948$498

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 29% cheaper than New York, 32.1% cheaper than New Jersey, 34% cheaper than Florida, 31.3% cheaper than Nevada, and 32.1% 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 36.5% more expensive than Maine, 23.5% more expensive than Virginia, 22.9% more expensive than Iowa, and 31.8% 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.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average New Mexico car insurance cost by segment is based on 2023 model year vehicles with safe driver and claim-free discounts applied. Physical damage deductibles are $500 and rates are averaged for all New Mexico Zip Codes.Data last updated on December 30, 2022
New Mexico Car Insurance Rates by Vehicle Segment
New Mexico Car Insurance Rates by Vehicle Segment
Vehicle Segment Annual Rate Monthly Rate
Compact SUV$1,320$110
Midsize Pickup$1,368$114
Midsize SUV$1,416$118
Minivan$1,420$118
Compact Car$1,444$120
Midsize Car$1,480$123
Compact Luxury SUV$1,568$131
Half-ton Pickup$1,574$131
Large SUV$1,586$132
Compact Luxury Car$1,594$133
Heavy Duty Pickup$1,668$139
Midsize Luxury SUV$1,686$141
Large Car$1,688$141
Midsize Luxury Car$1,842$154
Sports Car$1,980$165
Large Luxury SUV$2,130$178
Large Luxury Car$2,238$187

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 insuranceSubaru Impreza at $1,200 per year or $100 per month
  • Cheapest compact SUV insuranceChevrolet Trailblazer at $1,098 per year or $92 per month
  • Cheapest midsize car insuranceSubaru Legacy at $1,336 per year or $111 per month
  • Cheapest midsize SUV insuranceHonda Passport at $1,128 per year or $94 per month
  • Cheapest full-size car insuranceChrysler 300 at $1,414 per year or $118 per month
  • Cheapest full-size SUV insuranceChevrolet Tahoe at $1,360 per year or $113 per month
  • Cheapest midsize pickup insuranceFord Maverick at $1,204 per year or $100 per month
  • Cheapest full-size pickup insuranceNissan Titan at $1,436 per year or $120 per month
  • Cheapest heavy duty pickup insuranceGMC Sierra 2500 HD at $1,484 per year or $124 per month
  • Cheapest minivan insuranceHonda Odyssey at $1,326 per year or $111 per month
  • Cheapest sports car insuranceMazda MX-5 Miata at $1,340 per year or $112 per month
  • Cheapest compact luxury car insuranceAcura Integra at $1,302 per year or $109 per month
  • Cheapest compact luxury SUV insuranceAcura RDX at $1,208 per year or $101 per month
  • Cheapest midsize luxury car insuranceCadillac CT5 at $1,560 per year or $130 per month
  • Cheapest midsize luxury SUV insuranceLexus RX 350 at $1,298 per year or $108 per month
  • Cheapest full-size luxury car insuranceAudi A5 at $1,626 per year or $136 per month
  • Cheapest full-size luxury SUV insuranceVolvo XC90 at $1,496 per year or $125 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 Nissan Kicks, Subaru Crosstrek, Nissan Rogue Sport, and Mazda CX-5.

Average insurance rates for those small SUVs cost $1,140 or less per year for full coverage car insurance.

Some other models that are highly ranked in the cost comparison table are the Acura RDX, Honda HR-V, Subaru Impreza, and Ford Maverick. 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 $101 or less per month.

The table below shows the top 75 vehicles with cheap New Mexico car insurance quotes from the 2023 model year.

Top 75 Cheapest Vehicles to Insure in New Mexico
Rank Make/Model Annual Cost Monthly Cost
1Chevrolet Trailblazer$1,098$92
2Subaru Crosstrek$1,106$92
3Nissan Kicks$1,112$93
4Honda Passport$1,128$94
5Nissan Rogue Sport$1,130$94
6Mazda CX-5$1,140$95
7Buick Encore$1,156$96
8Buick Envision$1,158$97
9Kia Seltos$1,176$98
10Subaru Ascent$1,180$98
11Hyundai Venue$1,184$99
12Subaru Impreza$1,200$100
13Ford Maverick$1,204$100
14Honda HR-V$1,206$101
15Acura RDX$1,208$101
16Chevrolet Colorado$1,208$101
17Hyundai Kona$1,216$101
18Subaru Forester$1,222$102
19Ford Edge$1,228$102
20Honda CR-V$1,228$102
21Mazda CX-30$1,234$103
22Ford Explorer$1,236$103
23Volkswagen Atlas$1,238$103
24Nissan Murano$1,244$104
25Chevrolet Trax$1,246$104
26Subaru Outback$1,246$104
27Nissan Frontier$1,252$104
28Volkswagen Tiguan$1,258$105
29Ford Bronco Sport$1,262$105
30Fiat 500X$1,286$107
31Ford Ranger$1,288$107
32GMC Terrain$1,290$108
33Kia Soul$1,292$108
34Mitsubishi Eclipse Cross$1,292$108
35Volkswagen Atlas Cross Sport$1,296$108
36Lexus RX 350$1,298$108
37Acura Integra$1,302$109
38Chevrolet Equinox$1,306$109
39Toyota Corolla Cross$1,308$109
40Cadillac XT4$1,310$109
41Volkswagen Taos$1,314$110
42GMC Canyon$1,318$110
43Mazda CX-50$1,322$110
44Toyota Venza$1,322$110
45Toyota Tacoma$1,324$110
46Volkswagen Jetta$1,324$110
47Honda Odyssey$1,326$111
48Hyundai Tucson$1,326$111
49Kia Sorento$1,330$111
50Ford Escape$1,332$111
51Nissan Rogue$1,334$111
52Volvo XC40$1,334$111
53Subaru Legacy$1,336$111
54Infiniti QX50$1,340$112
55Mazda MX-5 Miata$1,340$112
56Mazda MX-30$1,344$112
57Toyota RAV4$1,344$112
58Hyundai Palisade$1,346$112
59Kia Niro$1,346$112
60Nissan Sentra$1,346$112
61Hyundai Santa Cruz$1,348$112
62Lexus UX 250h$1,356$113
63Mini Cooper$1,356$113
64Toyota 4Runner$1,358$113
65Chevrolet Tahoe$1,360$113
66Jeep Compass$1,360$113
67Toyota Corolla$1,362$114
68Volkswagen Golf$1,364$114
69Toyota Prius$1,368$114
70Cadillac XT5$1,378$115
71Mini Cooper Clubman$1,378$115
72Toyota Camry$1,378$115
73Chevrolet Traverse$1,384$115
74GMC Acadia$1,384$115
75Mazda 3$1,392$116

    Get Rates in Your AreaWhy is this important?

    Table Data Details: Average car insurance rate for each model assumes a 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to premiums. Full coverage physical damage deductibles are $500 and rates are averaged for all Zip Codes in New Mexico.Data last updated on December 30, 2022
    Top 75 Cheapest Vehicles to Insure in New Mexico

    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 $1,584 per year and ranges from $1,316 to $3,590 per year for the sample driver risk profiles shown in the chart below.

    The Ram Truck is considered a full-size truck, and other popular models include the Toyota Tundra, GMC Sierra, Nissan Titan, Chevrolet Silverado, and Ford F150.

    Get Rates in Your AreaWhy is this important?

    Chart Data Details: Average rates are for a 2023 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. Physical damage 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.Data last updated on December 29, 2022
    Ram Truck Insurance Cost in New Mexico
    Ram Truck Insurance Cost in New Mexico
    Driver Risk Profile Annual Rate Monthly Rate
    High Risk Driver Age 30$3,590$299
    Safe Driver Age 20$3,146$262
    At-fault Accidents Age 40$2,238$187
    Low Deductibles Age 40$2,048$171
    Safe Driver Age 30$1,664$139
    Safe Driver Age 40$1,584$132
    Safe Driver Age 50$1,442$120
    Safe Driver Age 60$1,416$118
    High Deductibles Age 40$1,346$112
    Discount Rate Age 40$1,316$110

    Ford Ranger insurance rates

    Ford Ranger insurance rates in New Mexico range from $1,068 to $2,908 per year for the driver profiles in the chart below. Ford Ranger insurance costs an average of $1,288 per year or $107 per month in New Mexico.

    The Ford Ranger belongs to the midsize truck segment, and other popular models include the Toyota Tacoma, Jeep Gladiator, Honda Ridgeline, GMC Canyon, and Nissan Frontier.

    Get Rates in Your AreaWhy is this important?

    Chart Data Details: Average rates are for a 2023 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. Physical damage 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.Data last updated on December 29, 2022
    Ford Ranger Insurance Cost in New Mexico
    Ford Ranger Insurance Cost in New Mexico
    Driver Risk Profile Annual Rate Monthly Rate
    High Risk Driver Age 30$2,908$242
    Safe Driver Age 20$2,548$212
    At-fault Accidents Age 40$1,818$152
    Low Deductibles Age 40$1,648$137
    Safe Driver Age 30$1,348$112
    Safe Driver Age 40$1,288$107
    Safe Driver Age 50$1,172$98
    Safe Driver Age 60$1,148$96
    High Deductibles Age 40$1,102$92
    Discount Rate Age 40$1,068$89

    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 $1,118 to $3,008 per year for the example driver risk profiles, with average cost being $1,346 per year.

    The Nissan Sentra is a compact car and other similar models include the Hyundai Elantra, Honda Civic, Toyota Corolla, Volkswagen Jetta, and Chevrolet Cruze.

    Get Rates in Your AreaWhy is this important?

    Chart Data Details: Average rates are for a 2023 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. Physical damage 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.Data last updated on December 30, 2022
    Nissan Sentra Insurance Cost in New Mexico
    Nissan Sentra Insurance Cost in New Mexico
    Driver Risk Profile Annual Rate Monthly Rate
    High Risk Driver Age 30$3,008$251
    Safe Driver Age 20$2,638$220
    At-fault Accidents Age 40$1,894$158
    Low Deductibles Age 40$1,696$141
    Safe Driver Age 30$1,404$117
    Safe Driver Age 40$1,346$112
    Safe Driver Age 50$1,224$102
    Safe Driver Age 60$1,198$100
    High Deductibles Age 40$1,162$97
    Discount Rate Age 40$1,118$93

    Toyota RAV4 insurance rates

    Average Toyota RAV4 insurance rates in New Mexico as shown in the chart below range from $1,118 to $3,052 per year, with the average cost being $1,344.

    The Toyota RAV4 is considered a compact SUV, and other models in this segment include the Subaru Forester, Honda CR-V, Ford Escape, Chevrolet Equinox, and Mazda CX-5.

    Get Rates in Your AreaWhy is this important?

    Chart Data Details: Average rates are for a 2023 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. Physical damage 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.Data last updated on December 30, 2022
    Toyota RAV4 Insurance Cost in New Mexico
    Toyota RAV4 Insurance Cost in New Mexico
    Driver Risk Profile Annual Rate Monthly Rate
    High Risk Driver Age 30$3,052$254
    Safe Driver Age 20$2,674$223
    At-fault Accidents Age 40$1,892$158
    Low Deductibles Age 40$1,760$147
    Safe Driver Age 30$1,420$118
    Safe Driver Age 40$1,344$112
    Safe Driver Age 50$1,224$102
    Safe Driver Age 60$1,202$100
    High Deductibles Age 40$1,128$94
    Discount Rate Age 40$1,118$93

    Ford Expedition insurance rates

    The average cost for Ford Expedition insurance in New Mexico is $1,492 per year. The chart below shows rates for additional driver profiles with prices ranging from $1,240 to $3,394 per year.

    The Ford Expedition is a large SUV and other vehicles in this segment include the Chevrolet Tahoe, Toyota Sequoia, Chevrolet Suburban, GMC Yukon, and .

    Get Rates in Your AreaWhy is this important?

    Chart Data Details: Average rates are for a 2023 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. Physical damage 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.Data last updated on December 30, 2022
    Ford Expedition Insurance Cost in New Mexico
    Ford Expedition Insurance Cost in New Mexico
    Driver Risk Profile Annual Rate Monthly Rate
    High Risk Driver Age 30$3,394$283
    Safe Driver Age 20$2,972$248
    At-fault Accidents Age 40$2,100$175
    Low Deductibles Age 40$1,970$164
    Safe Driver Age 30$1,580$132
    Safe Driver Age 40$1,492$124
    Safe Driver Age 50$1,358$113
    Safe Driver Age 60$1,334$111
    High Deductibles Age 40$1,246$104
    Discount Rate Age 40$1,240$103

    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.