New Mexico Insurance Discounts


Auto Insurance Discounts

Learn about the different ways Farmers helps you save on great auto insurance in New Mexico:

Discounts for the Family

Discounts for the Family
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

SignalSM by Farmers® – Signal is an app that analyzes the mechanics of your trips and driving style to help give you insights into your driving patterns. Get smarter about your driving habits, work towards reducing distractions, and earn an additional insurance discount.

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 a student on your policy attends school over 100 miles away and doesn’t have regular access to the covered car, you may be eligible for this discount

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.

Planning Ahead Discounts

Planning Ahead Discounts
Alternative Fuel – Investing in an electric, hybrid, or other alternative fuel car does a world of good. But with Farmers, it also can save you money on your car insurance.

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.

Classroom Discounts

Classroom Discounts
Good Student – Student drivers can help save on their auto insurance just by doing well in school! This discount applies to students who meet one of the following academic criteria:
  • 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!

Home Insurance Discounts

Farmers wants our customers in New Mexico to be secure and smart homeowners. That’s why we reward your good planning and safe habits with all of these rate discounts:

Discounts for the Household

Discounts for the Household

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.

Home Upkeep Discounts

Home Upkeep Discounts
Home Renovation – Check the dates on your home’s heating and electrical or plumping systems. If they’ve been recently renovated, consider this the first of many Farmers discounts to come your way.

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

New Roof – Maybe you just got a new roof, or the previous owner had one installed. Either way, as long as your roof is 6 years or younger, you may qualify for this discount.

UL 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.

Home Safety Discounts

Home Safety Discounts
Home Safety – There are a lot of loss prevention measures and environmentally safe features your home might have that could qualify you for a Farmers discount. Here are some eligible home features: reinforced windows and walls, water leak or gas valve shut offs, and ENERGY STAR, EPA, or LEED certification.

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.

Simplify and save

Find out about multi-line insurance discounts when you buy an auto policy with a home policy.

You may be eligible for one or more of these discounts, subject to documentation. Discounts apply to selected coverages, perils and policy types. Eligibility and actual percentage of discounts may vary. Not all products and discounts are available in every state.  Please contact a Farmers agent for details.