The best car insurance in Albuquerque, NM

Nicole Wakelin

By

Nicole Wakelin

Nicole Wakelin

Automotive journalist

Nicole Wakelin is an automotive journalist who has covered the industry for over a decade. She’s always loved cars and the fact that they regularly hand her the keys to shiny new automobiles so she can write about them is a constant source of amazement. She covers breaking news, writes reviews, and attends auto shows and new vehicle launches across the country.

Her work has appeared in a wide range of publications both online and in print. These include U.S. News & World Report, The Boston Globe, TrueCar, Kelley Blue Book, and Autobytel. In addition, she speaks to all things automotive at conferences, on the radio, and on podcasts, including co-hosting the weekly Wheel Bearings Podcast.

Nicole is a current member and former Vice President of the New England Motor Press Association. She is also a juror for both the Women’s World Car of the Year and the North American Car, Truck and Utility of the Year.

Published November 12, 2021

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The average cost of a full coverage car insurance policy in the city of Albuquerque is $1,711 per year, $231 more than the New Mexico state average of $1,480 per year. But rates will vary based on where in the city you live, as well as your age, driving history and credit score.

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The best way to find low rates is to shop around and get quotes from more than one car insurance company. Policygenius can help you see quotes from top companies, so you can be sure you’re choosing the best option.

Key Takeaways

  • USAA has the lowest average rate for full coverage car insurance in Albuquerque at $1,004 per year

  • GEICO offers the cheapest rates for Albuquerque drivers with poor credit

  • New Mexico at least $25,000 per person and $50,000 per accident in bodily injury liability coverage and $10,000 in property damage liability coverage

Cheapest car insurance companies in Albuquerque, NM

Car insurance costs can vary depending on where you live, your age, your driving history, and what kind of car you have. Every insurance company has its own formula for setting rates, so you may get two different rates from two companies for nearly the same coverage. That’s why it’s so important to research the cheapest companies in your area.

Company

Average cost

JD Power Rating

USAA

$1,004

890

State Farm

$1,222

881

MetLife

$1,235

886

GEICO

$1,257

871

Central Insurance

$1,292

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Cheapest car insurance rates by ZIP code in Albuquerque, NM

Where in Albuquerque you live will also impact your rates. Insurance companies look at reports of theft and vandalism in your neighborhood and how many accidents and traffic tickets are issued nearby.

ZIP code

Average cost

87101

$1,717

87102

$1,773

87104

$1,727

87106

$1,700

87107

$1,707

87108

$1,781

87109

$1,668

87110

$1,693

Choosing the right car insurance company in Albuquerque, NM

Choosing the right car insurance company for your needs might seem overwhelming, but it all comes down to a few key factors to compare.

  • Cost: Get quotes from multiple car insurance companies so you can see which offers you the most affordable rates

  • Coverage: Higher coverage limits means more protection, so see how much coverage you can afford while still staying in budget

  • Service: Do a little research on companies before you buy a policy — see how they stack up when it comes to customer service and claims satisfaction ratings

Policygenius makes the process easier by showing you quotes from top companies so you can choose the coverage that’s best for you and your wallet.

Car insurance rates for drivers with driving violations in Albuquerque, NM

The more violations on your driving record, the more you’ll pay for car insurance. And the more serious the violation, the more of an effect it will have on your rates.

Violation

USAA

State Farm

MetLife

GEICO

Central Insurance

At-fault Accident

$1,525

$1,338

$2,219

$2,142

$1,885

DUI

$2,091

$1,338

$3,384

$2,667

$2,464

Driving with a suspended license

$1,986

$1,338

$3,837

$2,388

$2,464

Driving with an open container

$1,435

$1,338

$1,747

$2,667

$1,664

Driving with expired registration

$1,326

$1,338

$1,747

$1,579

$1,590

Driving without Lights

$1,326

$1,338

$1,747

$1,579

$1,590

Failure to show documents

$1,326

$1,338

$1,747

$1,579

$1,590

Failure to stop at a red light

$1,326

$1,338

$1,747

$1,579

$1,664

Cheapest car insurance for drivers with bad credit in Albuquerque, NM

Insurance companies consider your credit score when calculating your car insurance rates so drivers with poor credit should take extra time to shop around and compare options before buying a policy. Here are the five cheapest car insurance companies in Albuquerque for drivers who have bad credit.

Company

Rates for drivers with bad credit

GEICO

$1,793

USAA

$1,868

Nationwide

$2,258

State Farm

$2,507

Central Insurance

$2,527

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Buying car insurance in Albuquerque, NM

Insurance is required in order to register a vehicle in New Mexico, and being caught driving without insurance can mean serious consequences. The minimum amounts required are”

  • Bodily injury liability coverage per person: $25,000

  • Bodily injury liability coverage per accident: $50,000

  • Property damage liability coverage: $10,000

Insurance coverage must be maintained throughout the time the vehicle is registered in New Mexico, regardless of how much you drive.

How to get cheap car insurance in Albuquerque, NM

Frequently asked questions

Who has the cheapest car insurance rates in Albuquerque?

Our analysis shows that, on average, the cheapest car insurance companies in Albuquerque are USAA and State Farm.

How can I save money on my car insurance in Albuquerque?

Maintain a good credit score and a clean driving record without accidents and speeding tickets to save money on car insurance. You should also reshop for car insurance yearly to make sure you’re not missing out on cheaper rates.

Is New Mexico a no-fault state?

No, New Mexico is not a no-fault state. If one driver is determined to be at-fault for an accident, then that driver’s liability insurance will pay for the other party’s medical bills and expenses.

Methodology

Policygenius has analyzed car insurance rates provided by Quadrant Information Services for every ZIP code in all 50 states plus Washington, D.C. For full coverage policies, the following coverage limits were used:

  • Bodily injury liability: 50/100

  • Property damage liability: $50,000

  • Uninsured/underinsured motorist: 50/100

  • Comprehensive: $500 deductible

  • Collision: $500 deductible

In some cases, additional coverages were added where required by state or insurer.

Rates for overall average rate, rates by ZIP code, and cheapest companies determined using averages for single drivers ages 30, 35, and 45. Our sample vehicle was a 2017 Toyota Camry LE driven 10,000 miles/year.

Rates for driving violations and “Poor” credit determined using average rates for a single male 30-year-old driver with a credit score under 578.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.