New Mexico Insurance Discounts

Multi-line Discounts – Insure your important investments with a variety of Farmers policies and get the protection you want with the serious discounts you deserve. Combine your Farmers auto policy with any of the following coverages and you may earn multi-policy discounts:

• Home
• Condo
• Renters
• Mobile Home / Specialty Dwelling
• Farmers Specialty (Motorcycle, boat, mote home, etc.)
• Life

Signal® by Farmers - Sign up, download and use the Signal app and you’ll receive a 5% discount on your auto policy, with an opportunity to earn up to 15% each time you renew your policy. You can save an additional 10% if you have a young driver in your household. Learn more about Signal® by Farmers

Business and Professional Group – In New Mexico, Farmers partners with many professional groups and businesses offering their members and employees extra discounts on auto insurance. Contact us to see if you qualify!

Distant Student – If your child goes away for school more than 100 miles from your home, does not have regular access to your covered car, and meets age limits, you may be eligible for this discount. Check with your local Farmers agent for details.

Teen Driver – Policyholders who have maintained Farmers auto coverage for at least 2 years can earn a discount when they add their teen child or grandchild to their policy.

Electronic Funds Transfer (EFT) – Set up an Automatic Electronic Funds Transfer (EFT) to pay your premium, and Farmers will discount your rate.

Paperless – Farmers will give you this additional discount if you choose to manage your policy online.

Pay In Full – Reduce your rates when you pay your entire term premium in one lump sum.

Transfer – If you switch to Farmers from another trusted provider, without a lapse in coverage, you’ll earn this coverage transfer discount.

Homeowner – New Mexico policyholders eligible for an additional discount if they own their home.

• High school students with at least “B” average
• College students with a 3.0 (out of 4.0) grade point average or higher 
• Dean’s List or Honor Roll students
• Students ranked in the top 20% of their class or in the top 20% in national standardized tests

Be ready to submit proof of eligibility (a copy of a report card, grade-point average, etc.) when requesting this discount.

Mature Driver – Driver 55 and older can successfully complete a driving course, recognized in New Mexico, for a discount on their Bodily Injury, Property Damage, Medical Payments, and Collision coverage. The discount is valid for 36 months, so let us know if you’ve recently completed one!

Affinity – If you’re the employee, a retiree or a member of an approved business or professional group, you could be entitled to a discount. Contact us to see if you qualify.

Multi-line Discounts – Qualify for cross-over policy discounts when you protect more than one treasure with Farmers coverage. Combine a Farmers home insurance policy with Farmers auto and/or life so we can discount your premium today.

Paperless – Sign up to view and receive your policy information online and get this additional discount.

Non-Smoker – Unfortunately, smoking in the house or falling asleep with a lit cigarette can, and does cause house fires all over the country. So Farmers offers a discounted insurance rate if everyone in your home has been smoke-free for the last two years.

New Home – If your home was built within the past several years, you may be eligible for this discount.

U L Approved Roofing Materials – Some roofing materials are stronger than others. If you have asphalt or fiberglass shingles approved by Underwriters Laboratories, we can offer you another Farmers discount.

Protected Devices – A little bit of work can go a long way in protecting your household, and lowering your Homeowners insurance premium. Install fire alarms, burglar alarms, or automatic fire sprinkler systems in your home, and you’ll earn peace of mind and this added discount.

Connected Home - also known as a smart home – may earn you a discount on your Farmers Insurance® Home policy. Having a Connected Home is a smart way of using technologies to help you monitor your home 24/7 – both when you're home and when you're away.

Are you a renter planning the purchase of your first home? Be sure to ask your agent about our Rent to Own discount. It’s available if you have an existing Farmers^® renters policy and stay with us when choosing new home coverage.