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


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.

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

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


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 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.

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.

Home Safety Discounts

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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.

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.

Rent To Own Discount


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.

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.

Once you enroll in Signal® by Farmers® and complete 10 qualifying trips using the app, you will receive an initial 5% discount on your Farmers Insurance® auto policy. Only one discount can be applied per policy, regardless of the number of enrolled drivers who complete 10 trips. At renewal, the Signal discount may increase or decrease based on the percentage of enrolled drivers on your auto policy using the app and their driving scores. Your renewal discount could range between 0.5% and 15%, except in Colorado where your renewal discount can range from 0.5% to 20% and in Florida where your renewal discount will be 5%.

The youthful driver component of the Signal discount is not available in Florida and Georgia.

Restrictions apply. Discounts may vary. Not available in all states. See your agent for details. Insurance is underwritten by Farmers Insurance Exchange and other affiliated Insurance entities. Visit for a complete listing of entities. Not all insurers are authorized to provide insurance in all states. Coverage not available in all states.