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Looking for the cheap car insurance New Mexico drivers use to save money? You’re in the right place!

New Mexico ranks #21 when compared to all the other states and Washington, D.C. for its car insurance costs. Above average costs mean that cheap auto insurance New Mexico law recognizes can be harder to find. 

But if you know where to look, New Mexico car insurance coverage can be affordable. For example, some New Mexico motorists pay as little as $30 a month for their car insurance.

Getting the best deal on auto insurance coverage in New Mexico starts with knowing more about what you need. The experts at Cheap Insurance have compiled the most common questions about cheap car insurance New Mexico drivers ask – take a look for everything you need to know.

new mexico car insurance

What Kind Of Car Insurance Do You Need In New Mexico?

Every state has its rules about what qualifies as minimum car insurance. Minimum car insurance in New Mexico is the lowest level of insurance protection allowed under the law. You’ll have to show evidence of at least this much coverage before you can register your vehicle in the state.

New Mexico minimum car insurance always includes:

  • Bodily Injury Liability: $25,000 per individual and $50,000 per covered traffic event
  • Property Damage Liability: A flat minimum of $10,000 per covered traffic event

When they want cheap auto insurance, New Mexico drivers will often go with this kind of minimum coverage. One advantage New Mexico drivers have is that their minimums are very low, making them more affordable.

Optionally, you can keep or waive the following coverage: 

  • Uninsured Motorist Bodily Injury: Same minimums as Bodily Injury Liability above
  • Uninsured Motorist Property Damage: Same minimums as Property Damage Liability above

Car insurance companies are required to make optional coverage available, but you won’t be penalized if you do not accept it. Uninsured Motorist coverage helps in the event you are in an auto accident with a driver who doesn’t have insurance. Without it, you may end up paying for accident costs out of pocket.

How Can You Save Money On Car Insurance In New Mexico?

The best way to save more money on car insurance is to get a good bargain from the very start.

By getting cheap car insurance, New Mexico motorists can save money both now and later. Even the top car insurance companies in New Mexico usually raise their rates every year, so a lower starting premium could make a difference of thousands of dollars over a few years.

That requires you to compare car insurance quotes from as many companies as you can.

Once you find a good car insurance company in New Mexico, contact them to see if you qualify for discounts on the standard rates. Safe drivers, those who have passed a defensive driving class, and those who drive a safe car model may spend less on their premiums than other New Mexico drivers.

Finally, don’t be afraid to switch to someone else if an insurer isn’t meeting your needs! You are allowed to switch providers any time as long as you don’t let your car go uninsured.

What Happens If You Don’t Have Car Insurance In New Mexico?

Driving without car insurance is illegal in New Mexico.

If you do not have car insurance in New Mexico, your vehicle registration can be terminated automatically. If you receive a Notice of Suspension of Registration, you are expected to turn in your vehicle’s registration and license plates within 10 days. Failing to do so can expose you to criminal penalties. 

New Mexico takes uninsured driving very seriously. Experts have estimated that about 21% of all drivers in New Mexico are uninsured, compared to a national average of just 12%. This is one of the reasons why car insurance in New Mexico is more expensive than it would be otherwise.

To fight the problem, New Mexico implemented its own Insurance Identification Database. The state now gets a notice directly from your insurance company whenever a policy is closed for any reason. The IID enables the state to issue inquiries to people it believes are uninsured and to cancel registration if they do not respond. 

This has reduced the insured driver rate in New Mexico about 9%.

It’s never a good idea to drive without insurance, and in New Mexico, you will get caught. Avoid the trouble by finding the cheap car insurance New Mexico can count on. New Mexico car insurance coverage is no mystery when you bring your search to Cheap Insurance.

With us, you can compare quotes for auto insurance coverage in New Mexico in just a few clicks. Get started right now and see what New Mexico car insurers have to offer – or contact our team for more information.

Who has the cheapest car insurance in New Mexico?

When you want cheap car insurance, New Mexico is not an easy state! Since it has above average car insurance costs, it makes sense to do research to find cheap New Mexico car insurance. But there is no one New Mexico car insurance company that always offers the best rates.

For the cheapest car insurance in New Mexico, start by comparing car insurance quotes online. Drivers in their 30s and 40s who have no past traffic infractions tend to get the best rates, but you can save money when you look at as many car insurance providers as you can.

How much is car insurance per month in New Mexico?

To find the best cheap auto insurance, New Mexico drivers have a big job ahead of them. New Mexico is above average in terms of car insurance costs. It has been ranked #21 in surveys that include data from Washington, D.C. and all of the states.

A New Mexico driver can expect to pay nearly $1,500 a year for car insurance, or about $123 per month. This is an average that includes minimum car insurance as well as pricey full car insurance coverage in New Mexico. If you choose basic coverage, you might pay as little as $31 a month.

What is the average cost of car insurance in New Mexico?

The average cost of car insurance in New Mexico has been going up in recent years. New Mexico car insurance coverage is more expensive than the average state: In fact, it is ranked #21 in car insurance costs when placed side by side with other states and the nation’s capital.

An average New Mexico motorist can expect to pay just under $1,500 per year for car insurance. Selecting a full coverage car insurance policy drives that cost up further. Conversely, choosing minimum car insurance in New Mexico may mean paying as little as about $31 every month for your policy.

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Average Annual Premiums in New Mexico = $1,274 | via Insure.com