New Mexico Car Insurance Cost for 2021

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 $1,314 per year for full coverage, which is 13.7% less than the national average rate of $1,523. Car insurance cost per month in New Mexico averages $110.

The next chart shows car insurance cost in New Mexico when averaged for all 2021 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 2021 model year vehicles with safe driver and claim-free discounts applied. Full-coverage rates are averaged for all New Mexico zip codes.
Average Car Insurance Cost in New Mexico
Average Car Insurance Cost in New Mexico
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$2,212$184
$500$2,610$218
$250$3,028$252
30$1,000$1,160$97
$500$1,382$115
$250$1,612$134
40$1,000$1,110$93
$500$1,314$110
$250$1,526$127
50$1,000$1,012$84
$500$1,194$100
$250$1,386$116
60$1,000$994$83
$500$1,174$98
$250$1,362$114

The overall average rate in the chart above is the $500 deductible policy for a 40-year-old driver which costs $1,314 per year in New Mexico, or about $110 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 2021 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.
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$988$82
Toyota Corolla$1,138$95
Nissan Rogue$1,182$99
Chevrolet Equinox$1,188$99
Honda Civic$1,232$103
Ford F150$1,250$104
Toyota RAV4$1,264$105
Toyota Camry$1,312$109
Chevrolet Silverado$1,370$114
Ram Truck$1,426$119

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 $170 per year. This is called “bundling” your coverage.
  • Having an at-fault accident could trigger a rate increase of up to $538 each year.
  • Earning multiple policy discounts could save as much as $410 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 $346 per year.
  • Increasing policy deductibles from $100 to $1,000 could save $598 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 $70 per year.
  • A DUI or other major driving violation could cause rates to increase by $1,204 or more per year.

How expensive is car insurance in New Mexico?

When compared to surrounding states, New Mexico car insurance rates are 10.7% less than Texas, 19.6% less than Oklahoma, 18.9% less than Colorado, 4.1% less than Arizona, and 6% more than Utah.

In dollar figures, the $1,314 per year average cost of car insurance in New Mexico will cost $158 per year less than in Texas, $320 less than in Oklahoma, $306 less than in Colorado, $56 less than in Arizona, and $74 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$1,314--
Arizona$1,370$56
Texas$1,472$158
Oklahoma$1,634$320

Since New Mexico ranks 22nd 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 21.9% cheaper than New York, 10.7% cheaper than New Jersey, 35.8% cheaper than Florida, 22.6% cheaper than Nevada, and 21.6% cheaper than California.

There are 21 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 36.9% more expensive than Maine, 34.9% more than Virginia, 21.9% more than Illinois, 9.9% more than Washington, and 27.3% 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-3, 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 2021 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.
New Mexico Car Insurance Rates by Vehicle Segment
New Mexico Car Insurance Rates by Vehicle Segment
Vehicle Segment Annual Rate Monthly Rate
Small SUV$1,184$99
Midsize Truck$1,192$99
Large Van$1,196$100
Midsize Minivan$1,218$102
Midsize SUV$1,276$106
Midsize Van$1,290$108
Small Car$1,320$110
Large Truck$1,330$111
Midsize Car$1,344$112
Large SUV$1,358$113
Small Luxury SUV$1,376$115
Large Car$1,428$119
Heavy Duty Truck$1,476$123
Midsize Luxury SUV$1,480$123
Small Luxury Car$1,524$127
Midsize Luxury Car$1,736$145
Large Luxury SUV$1,772$148
Sports Car$1,918$160
Large Luxury Car$2,024$169
Exotic Car$2,696$225

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 insuranceVolkswagen Golf at $1,048 per year or $87 per month
  • Cheapest compact SUV insuranceSubaru Forester at $974 per year or $81 per month
  • Cheapest midsize car insuranceMazda 6 at $1,220 per year or $102 per month
  • Cheapest midsize SUV insuranceFord Edge at $1,044 per year or $87 per month
  • Cheapest full-size car insuranceKia Cadenza at $1,334 per year or $111 per month
  • Cheapest full-size SUV insuranceToyota Sequoia at $1,298 per year or $108 per month
  • Cheapest midsize pickup insuranceToyota Tacoma at $1,106 per year or $92 per month
  • Cheapest full-size pickup insuranceFord F150 at $1,250 per year or $104 per month
  • Cheapest heavy duty pickup insuranceFord F350 Super Duty at $1,416 per year or $118 per month
  • Cheapest minivan insuranceKia Sedona at $1,112 per year or $93 per month
  • Cheapest sports car insuranceMazda Miata at $1,204 per year or $100 per month
  • Cheapest compact luxury car insuranceMercedes-Benz A220 at $1,288 per year or $107 per month
  • Cheapest compact luxury SUV insuranceVolvo XC40 at $1,084 per year or $90 per month
  • Cheapest midsize luxury car insuranceAcura ILX at $1,228 per year or $102 per month
  • Cheapest midsize luxury SUV insuranceVolvo V60 at $1,240 per year or $103 per month
  • Cheapest full-size luxury car insuranceVolvo S90 at $1,432 per year or $119 per month
  • Cheapest full-size luxury SUV insuranceVolvo XC90 at $1,260 per year or $105 per month

What vehicles have cheap car insurance in New Mexico?

Many small and midsize SUVs, small and midsize cars, and even a few luxury models and full-size pickups make our list of the top 75 cheapest vehicles to insure in New Mexico. The Subaru Forester ranks number one, however, costing an average of $974 per year.

The table below shows the top 75 vehicles with cheap New Mexico car insurance quotes from the 2021 model year.

Top 75 Cheapest Vehicles to Insure in New Mexico
Rank Make/Model Annual Cost Monthly Cost
1Subaru Forester$974$81
2Honda CR-V$988$82
3Ram Promaster City$1,026$86
4Mazda CX-3$1,034$86
5Toyota C-HR$1,040$87
6Kia Sportage$1,042$87
7Ford Edge$1,044$87
8Volkswagen Golf$1,048$87
9Mazda CX-5$1,058$88
10Subaru Crosstrek$1,072$89
11Chevrolet Spark$1,082$90
12Volvo XC40$1,084$90
13Hyundai Venue$1,090$91
14Volkswagen Atlas$1,098$92
15Hyundai Kona$1,104$92
16Kia Soul$1,104$92
17Subaru Impreza$1,106$92
18Toyota Tacoma$1,106$92
19Kia Telluride$1,110$93
20Chevrolet Blazer$1,112$93
21Kia Sedona$1,112$93
22Jeep Compass$1,114$93
23Chevrolet Colorado$1,116$93
24Kia Rio5$1,116$93
25Mazda CX-30$1,116$93
26Subaru Outback$1,116$93
27Honda Passport$1,118$93
28Mitsubishi Eclipse Cross$1,120$93
29Nissan Kicks$1,120$93
30Subaru Ascent$1,120$93
31Ford Escape$1,122$94
32Hyundai Tucson$1,124$94
33Nissan Frontier$1,130$94
34Acura RDX$1,132$94
35Volkswagen Tiguan$1,134$95
36Honda Pilot$1,136$95
37Toyota Corolla$1,138$95
38Ford Ecosport$1,142$95
39Buick Envision$1,146$96
40Kia Seltos$1,152$96
41Nissan Rogue Sport$1,160$97
42Chevrolet Trailblazer$1,166$97
43Chevrolet Trax$1,166$97
44Cadillac XT4$1,170$98
45Buick Encore$1,176$98
46Chevrolet Express$1,176$98
47Jeep Renegade$1,182$99
48Nissan Rogue$1,182$99
49Chevrolet Equinox$1,188$99
50Nissan Murano$1,188$99
51Nissan NV$1,188$99
52Ford Transit Connect$1,196$100
53Chrysler Pacifica$1,200$100
54Fiat 500X$1,200$100
55Mazda MX-5 Miata$1,204$100
56GMC Savana$1,206$101
57Hyundai Palisade$1,216$101
58Ford Ranger$1,218$102
59Mazda 6$1,220$102
60GMC Terrain$1,222$102
61Honda Insight$1,226$102
62Jeep Gladiator$1,226$102
63Acura ILX$1,228$102
64Honda Civic$1,232$103
65Subaru Legacy$1,232$103
66Honda HR-V$1,238$103
67Volvo V60$1,240$103
68Acura MDX$1,242$104
69Cadillac XT5$1,242$104
70Ford F150$1,250$104
71Kia Rio$1,250$104
72Toyota 4Runner$1,252$104
73Mazda 3$1,254$105
74Ram Promaster$1,254$105
75Lexus NX 300$1,258$105

    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.
    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 $1,426 per year and ranges from $1,184 to $3,244 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 2021 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.
    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$3,244$270
    Safe Driver Age 20$2,844$237
    At-fault Accidents Age 40$2,026$169
    Low Deductibles Age 40$1,824$152
    Safe Driver Age 30$1,494$125
    Safe Driver Age 40$1,426$119
    Safe Driver Age 50$1,300$108
    Safe Driver Age 60$1,276$106
    High Deductibles Age 40$1,222$102
    Discount Rate Age 40$1,184$99

    Ford Ranger insurance rates

    Ford Ranger insurance rates in New Mexico range from $1,008 to $2,758 per year for the driver profiles in the chart below. Ford Ranger insurance costs an average of $1,218 per year or $102 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 2021 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.
    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$2,758$230
    Safe Driver Age 20$2,418$202
    At-fault Accidents Age 40$1,722$144
    Low Deductibles Age 40$1,562$130
    Safe Driver Age 30$1,276$106
    Safe Driver Age 40$1,218$102
    Safe Driver Age 50$1,108$92
    Safe Driver Age 60$1,086$91
    High Deductibles Age 40$1,040$87
    Discount Rate Age 40$1,008$84

    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 $1,076 to $2,948 per year for the example driver risk profiles, with average cost being $1,298 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 2021 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.
    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$2,948$246
    Safe Driver Age 20$2,584$215
    At-fault Accidents Age 40$1,836$153
    Low Deductibles Age 40$1,680$140
    Safe Driver Age 30$1,364$114
    Safe Driver Age 40$1,298$108
    Safe Driver Age 50$1,182$99
    Safe Driver Age 60$1,158$97
    High Deductibles Age 40$1,102$92
    Discount Rate Age 40$1,076$90

    Toyota RAV4 insurance rates

    Average Toyota RAV4 insurance rates in New Mexico as shown in the chart below range from $1,046 to $2,864 per year, with the average cost being $1,264.

    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 2021 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.
    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$2,864$239
    Safe Driver Age 20$2,512$209
    At-fault Accidents Age 40$1,786$149
    Low Deductibles Age 40$1,628$136
    Safe Driver Age 30$1,324$110
    Safe Driver Age 40$1,264$105
    Safe Driver Age 50$1,152$96
    Safe Driver Age 60$1,128$94
    High Deductibles Age 40$1,076$90
    Discount Rate Age 40$1,046$87

    Ford Expedition insurance rates

    The average cost for Ford Expedition insurance in New Mexico is $1,362 per year. The chart below shows rates for additional driver profiles with prices ranging from $1,132 to $3,090 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 2021 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.
    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$3,090$258
    Safe Driver Age 20$2,706$226
    At-fault Accidents Age 40$1,918$160
    Low Deductibles Age 40$1,776$148
    Safe Driver Age 30$1,436$120
    Safe Driver Age 40$1,362$114
    Safe Driver Age 50$1,240$103
    Safe Driver Age 60$1,218$102
    High Deductibles Age 40$1,148$96
    Discount Rate Age 40$1,132$94

    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.