New Mexico Car Insurance Cost for 2022

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 $1,216 per year for full coverage, which is 21.6% less than the national average rate of $1,551. Car insurance cost per month in New Mexico averages $101.

The next chart shows car insurance cost in New Mexico when averaged for all 2022 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 2022 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 May 19, 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$2,058$172
$500$2,422$202
$250$2,808$234
30$1,000$1,078$90
$500$1,282$107
$250$1,496$125
40$1,000$1,030$86
$500$1,216$101
$250$1,414$118
50$1,000$942$79
$500$1,110$93
$250$1,286$107
60$1,000$924$77
$500$1,088$91
$250$1,262$105

The overall average rate in the chart above is the $500 deductible policy for a 40-year-old driver which costs $1,216 per year in New Mexico, or about $101 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 2022 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 March 24, 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$1,070$89
Chevrolet Equinox$1,140$95
Toyota RAV4$1,154$96
Ford F150$1,178$98
Nissan Rogue$1,196$100
Toyota Corolla$1,198$100
Toyota Camry$1,200$100
Honda Civic$1,208$101
Chevrolet Silverado$1,308$109
Ram Truck$1,392$116

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 $158 per year. This is called “bundling” your coverage.
  • Having an at-fault accident could trigger a rate increase of up to $502 each year.
  • Earning multiple policy discounts could save as much as $376 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 $324 per year.
  • Increasing policy deductibles from $100 to $1,000 could save $552 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 $64 per year.
  • A DUI or other major driving violation could cause rates to increase by $1,120 or more per year.

How expensive is car insurance in New Mexico?

When compared to surrounding states, New Mexico car insurance rates are 15.3% less than Texas, 17.8% less than Oklahoma, 25.2% less than Colorado, 10.3% less than Arizona, and 3.3% more than Utah.

In dollar figures, the $1,216 per year average cost of car insurance in New Mexico will cost $220 per year less than in Texas, $264 less than in Oklahoma, $410 less than in Colorado, $140 less than in Arizona, and $42 more 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$1,216--
Arizona$1,356$140
Texas$1,436$220
Oklahoma$1,480$264

Since New Mexico ranks 14th 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 24.9% cheaper than New York, 15.4% cheaper than New Jersey, 45.4% cheaper than Florida, 27.3% cheaper than Nevada, and 30.4% cheaper than California.

There are 13 states that have cheaper average car insurance rates than New Mexico, however. When compared to some of those states, average New Mexico car insurance cost is 15.4% more expensive than Maine, 23.8% more than Virginia, 10.3% more than Iowa, 5% more than Washington, and 25.9% more 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 2022 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 April 12, 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$1,140$95
Midsize Pickup$1,168$97
Minivan$1,228$102
Midsize SUV$1,234$103
Compact Car$1,254$105
Midsize Car$1,272$106
Half-ton Pickup$1,324$110
Compact Luxury SUV$1,372$114
Large SUV$1,376$115
Compact Luxury Car$1,384$115
Large Car$1,410$118
Heavy Duty Pickup$1,454$121
Midsize Luxury SUV$1,474$123
Midsize Luxury Car$1,614$135
Sports Car$1,720$143
Large Luxury SUV$1,844$154
Large Luxury Car$1,930$161

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 $1,060 per year or $88 per month
  • Cheapest compact SUV insuranceMazda CX-5 at $928 per year or $77 per month
  • Cheapest midsize car insuranceSubaru Legacy at $1,184 per year or $99 per month
  • Cheapest midsize SUV insuranceHonda Passport at $980 per year or $82 per month
  • Cheapest full-size car insuranceToyota Avalon at $1,282 per year or $107 per month
  • Cheapest full-size SUV insuranceChevrolet Tahoe at $1,226 per year or $102 per month
  • Cheapest midsize pickup insuranceChevrolet Colorado at $1,006 per year or $84 per month
  • Cheapest full-size pickup insuranceFord F150 at $1,178 per year or $98 per month
  • Cheapest heavy duty pickup insuranceFord F350 Super Duty at $1,324 per year or $110 per month
  • Cheapest minivan insuranceHonda Odyssey at $1,140 per year or $95 per month
  • Cheapest sports car insuranceMazda MX-5 Miata at $1,056 per year or $88 per month
  • Cheapest compact luxury car insuranceMercedes-Benz A220 at $1,200 per year or $100 per month
  • Cheapest compact luxury SUV insuranceAcura RDX at $1,046 per year or $87 per month
  • Cheapest midsize luxury car insuranceAcura ILX at $1,124 per year or $94 per month
  • Cheapest midsize luxury SUV insuranceCadillac XT5 at $1,202 per year or $100 per month
  • Cheapest full-size luxury car insuranceAudi A5 at $1,432 per year or $119 per month
  • Cheapest full-size luxury SUV insuranceVolvo XC90 at $1,322 per year or $110 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 Chevrolet Trailblazer, Nissan Kicks, Subaru Crosstrek, and Toyota C-HR.

Average insurance rates for those small SUVs cost $1,010 or less per year for full coverage car insurance.

Some other models that are highly ranked in the cost comparison table are the Subaru Ascent, Acura RDX, Kia Seltos, 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 $87 or less per month.

The table below shows the top 75 vehicles with cheap New Mexico car insurance quotes from the 2022 model year.

Top 75 Cheapest Vehicles to Insure in New Mexico
Rank Make/Model Annual Cost Monthly Cost
1Mazda CX-5$928$77
2Nissan Kicks$954$80
3Chevrolet Trailblazer$958$80
4Honda Passport$980$82
5Subaru Crosstrek$980$82
6Chevrolet Colorado$1,006$84
7Buick Encore$1,010$84
8Toyota C-HR$1,010$84
9Nissan Rogue Sport$1,018$85
10Buick Envision$1,038$87
11Hyundai Venue$1,038$87
12Kia Seltos$1,040$87
13Ford Maverick$1,044$87
14Acura RDX$1,046$87
15Subaru Ascent$1,048$87
16Toyota Corolla Cross$1,050$88
17Mazda MX-5 Miata$1,056$88
18Hyundai Kona$1,058$88
19Subaru Forester$1,058$88
20Subaru Impreza$1,060$88
21Volkswagen Tiguan$1,060$88
22Chevrolet Spark$1,062$89
23Honda CR-V$1,070$89
24Cadillac XT4$1,072$89
25Mazda CX-30$1,080$90
26Ford Ranger$1,086$91
27Honda HR-V$1,096$91
28Ford Edge$1,100$92
29Ford Ecosport$1,106$92
30Chevrolet Trax$1,118$93
31Subaru Outback$1,120$93
32Acura ILX$1,124$94
33GMC Terrain$1,126$94
34Mitsubishi Eclipse Cross$1,126$94
35Nissan Murano$1,134$95
36Toyota Tacoma$1,134$95
37Hyundai Tucson$1,136$95
38Chevrolet Bolt$1,140$95
39Chevrolet Equinox$1,140$95
40Honda Odyssey$1,140$95
41Toyota Venza$1,142$95
42Volkswagen Taos$1,146$96
43Ford Explorer$1,148$96
44Fiat 500X$1,150$96
45Kia Soul$1,154$96
46Toyota RAV4$1,154$96
47Kia Sorento$1,156$96
48Nissan Frontier$1,164$97
49GMC Canyon$1,168$97
50Hyundai Palisade$1,170$98
51Hyundai Santa Cruz$1,174$98
52Volkswagen Golf$1,174$98
53Volvo XC40$1,176$98
54Ford F150$1,178$98
55Mazda MX-30$1,178$98
56Volkswagen Atlas$1,178$98
57Jeep Compass$1,182$99
58Subaru Legacy$1,184$99
59Kia Niro$1,186$99
60Volkswagen Jetta$1,186$99
61Honda Insight$1,188$99
62Nissan Sentra$1,188$99
63Honda Ridgeline$1,190$99
64Toyota 4Runner$1,192$99
65Nissan Rogue$1,196$100
66Toyota Corolla$1,198$100
67Jeep Gladiator$1,200$100
68Kia K5$1,200$100
69Mercedes-Benz A220$1,200$100
70Toyota Camry$1,200$100
71Cadillac XT5$1,202$100
72Ford Escape$1,202$100
73Kia Rio$1,204$100
74Honda Civic$1,208$101
75Mazda 3$1,208$101

    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 March 24, 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 $1,392 per year and ranges from $1,156 to $3,158 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 2022 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 May 19, 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$3,158$263
    Safe Driver Age 20$2,766$231
    At-fault Accidents Age 40$1,968$164
    Low Deductibles Age 40$1,792$149
    Safe Driver Age 30$1,460$122
    Safe Driver Age 40$1,392$116
    Safe Driver Age 50$1,270$106
    Safe Driver Age 60$1,242$104
    High Deductibles Age 40$1,188$99
    Discount Rate Age 40$1,156$96

    Ford Ranger insurance rates

    Ford Ranger insurance rates in New Mexico range from $902 to $2,432 per year for the driver profiles in the chart below. Ford Ranger insurance costs an average of $1,086 per year or $91 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 2022 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 May 19, 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$2,432$203
    Safe Driver Age 20$2,130$178
    At-fault Accidents Age 40$1,526$127
    Low Deductibles Age 40$1,378$115
    Safe Driver Age 30$1,132$94
    Safe Driver Age 40$1,086$91
    Safe Driver Age 50$986$82
    Safe Driver Age 60$966$81
    High Deductibles Age 40$932$78
    Discount Rate Age 40$902$75

    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 $986 to $2,662 per year for the example driver risk profiles, with average cost being $1,188 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 2022 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 May 19, 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$2,662$222
    Safe Driver Age 20$2,334$195
    At-fault Accidents Age 40$1,676$140
    Low Deductibles Age 40$1,502$125
    Safe Driver Age 30$1,244$104
    Safe Driver Age 40$1,188$99
    Safe Driver Age 50$1,082$90
    Safe Driver Age 60$1,058$88
    High Deductibles Age 40$1,024$85
    Discount Rate Age 40$986$82

    Toyota RAV4 insurance rates

    Average Toyota RAV4 insurance rates in New Mexico as shown in the chart below range from $958 to $2,616 per year, with the average cost being $1,154.

    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 2022 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 May 19, 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$2,616$218
    Safe Driver Age 20$2,294$191
    At-fault Accidents Age 40$1,624$135
    Low Deductibles Age 40$1,510$126
    Safe Driver Age 30$1,216$101
    Safe Driver Age 40$1,154$96
    Safe Driver Age 50$1,050$88
    Safe Driver Age 60$1,032$86
    High Deductibles Age 40$972$81
    Discount Rate Age 40$958$80

    Ford Expedition insurance rates

    The average cost for Ford Expedition insurance in New Mexico is $1,300 per year. The chart below shows rates for additional driver profiles with prices ranging from $1,078 to $2,960 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 2022 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 May 19, 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$2,960$247
    Safe Driver Age 20$2,594$216
    At-fault Accidents Age 40$1,828$152
    Low Deductibles Age 40$1,716$143
    Safe Driver Age 30$1,374$115
    Safe Driver Age 40$1,300$108
    Safe Driver Age 50$1,186$99
    Safe Driver Age 60$1,164$97
    High Deductibles Age 40$1,084$90
    Discount Rate Age 40$1,078$90

    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.