New Mexico Car Insurance
A Farmers Flex® Personal Auto policy lets you take affordable insurance coverage along for the ride, whether you’re commuting across Albuquerque, taking a day trip to Taos or exploring the Sangre de Cristos. You can choose the coverage you want, and discounts can help you save even more.
Is car insurance required in New Mexico?
Yes, New Mexico requires a car insurance policy with a minimum amount of liability coverage, as do most states. But minimum coverage may not be the full extent of coverage you may want.
As of October 2022, 25/50/10 liability coverage limits are the minimum required in New Mexico.
COVERAGE TYPE
NEW MEXICO MINIMUM REQUIREMENTS
Bodily injury liability
$25,000 per person; $50,000 per accident
Property damage liability
$10,000 per accident
COVERAGE TYPE
Bodily injury liability
NEW MEXICO MINIMUM REQUIREMENTS
$25,000 per person; $50,000 per accident
COVERAGE TYPE
Property damage liability
NEW MEXICO MINIMUM REQUIREMENTS
$10,000 per accident
What does car insurance in New Mexico cost, on average?
New Mexico drivers paid an average of $1,301 a year for full coverage (liability, collision and comprehensive) in 2023, according to the most recent data available from the National Association of Insurance Commissioners (NAIC). That’s less than what drivers nationwide paid — an average of $1,438 per year for coverage, the NAIC report shows. Keep in mind that insurance premiums in most states have changed since then. Your cost will also depend on how much coverage you choose, as well as your driving history and the car you drive.
What does car insurance typically cover in New Mexico?
An auto insurance policy in New Mexico typically includes coverage for bodily injury and property damage liability as well as optional collision and comprehensive coverage, in case of covered damage or theft.
Farmers® also offers Rental or Rental Alternative coverage (for when your car is in the shop), Vehicle Replacement Plus (if your newer car is totaled) and Enhanced Roadside and Ride Assistance. Read more about coverage options in New Mexico with a Farmers Flex Personal Auto policy.
New Mexico car insurance discounts
Farmers offers a variety of discounts for car insurance customers in New Mexico. For example:
- Welcome Discount
- Loyalty Discount
- Five-Year Accident-Free Discount
- Discounts for Bundling Home or Renters Policies
- Signal® App Initial Discount
Learn more about additional discounts that may be available in New Mexico.
Santa Fe
More coverage options in New Mexico
Learn From Experience
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Whether you travel in your RV or everyday car, you’re covered in Canada just as you are in the U.S. It’s the one foreign country where your Farmers policy remains in force without restriction.
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