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Best cheap car insurance in Albuquerque for 2025
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The best car insurance companies in Albuquerque
The best car insurance company looks different for every driver, depending on your rating factors, your insurance needs and your shopping priorities. To present the best insurance companies for most drivers in Albuquerque, Bankrate’s insurance editorial team started by examining the latest premium data from Quadrant Information Services to get a sense of pricing. We also look at third-party customer satisfaction ratings from J.D. Power, financial strength ratings from AM Best and the coverage and discount options available from each insurer. Each company received a Bankrate Score on a 5.0-point scale to quickly capture how well they meet customer needs. Based on these metrics, our best Albuquerque car insurance companies represent the best in savings, service and coverage.
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Geico made our list: Out of all the insurance carriers we analyzed in Albuquerque, Geico had some of the lowest average premiums for auto coverage. Geico was also one of two Bankrate Award winners for Best Budget Auto Insurance Company in 2024, making it a good potential option for Albuquerque drivers seeking affordable rates. However, those low rates may come with a lower rate of satisfaction in Geico’s customer service, as indicated by its below-average ranking in the Southwest region on the 2024 J.D. Power U.S. Auto Insurance Study.
Why Geico may be best for discounts: On top of its cheap car insurance rates, Geico offers a range of discounts for auto insurance, from good student and safe driver discounts to lower rates for active and retired federal employees and military members. If you’re considering getting quotes from Geico, you may want to ask an agent which discounts you may be eligible for.
| Bankrate Score | 4.3 |
| J.D. Power | 618/1,000 |
| AM Best Rating | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why USAA made our list: USAA stands out for its low auto insurance premiums and high customer satisfaction ratings. In J.D. Power’s 2024 U.S. Auto Insurance Study, USAA scored well above any other carrier and nearly 100 points above the region average in the Southwest. These stellar rankings, along with an A++ (Superior) financial strength rating from AM Best and consistently low rates for eligible drivers, earned USAA a high Bankrate Score and a place on our list of the best Albuquerque insurers. However, only military members, veterans and their spouses and children are eligible for coverage.
Why USAA may be best for military-focused coverage: USAA auto insurance policies are designed for and serviced by military members, which means that military drivers may have options that aren’t available from civilian-focused insurers. For instance, garaging your vehicle on a military installation could earn you a discount of up to 15 percent on comprehensive coverage. If you put your car into storage during a deployment, your discount could be as high as 60 percent.
| Bankrate Score | 4.3 |
| J.D. Power | 733/1,000 |
| AM Best Rating | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Progressive made our list: Progressive won a 2024 Bankrate Award for Best Auto Insurance Company for High-Risk Drivers, which may put it above the competition for young drivers, drivers with violations and anyone struggling to find affordable coverage based on their profile. While Progressive’s third-party customer satisfaction ratings are on the low end, it received high scores for financial strength and digital insurance tools.
Why Progressive may be best for digital tools: In the 2024 J.D. Power U.S. Digital Insurance Experience Study, Progressive was the clear winner, with a customer satisfaction ranking for service 20 points higher than the insurer ranked in second place. Progressive’s mobile tools include the usage-based Snapshot app and a mobile app for iPhone and Android that allows policyholders to access ID cards, make payments, file and check on claims, start new quotes and more. If you’re looking for an auto insurance policy you can manage from your phone, you may want to get quotes from Progressive.
| Bankrate Score | 4.4 |
| J.D. Power | 614/1,000 |
| AM Best Rating | A+ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Farmers made our list: Despite a lower Bankrate Score than some competitors, Farmers has two significant advantages for drivers in Albuquerque: highly customizable coverage and one of the longest discount lists in the insurance industry. If you’re seeking affordable coverage in the ABQ area, check with an agent to see which discounts are available to you. Finally, although Farmers scored above average in both the 2024 J.D. Power U.S. Digital Insurance Experience Study and the 2023 U.S. Auto Claims Satisfaction Study, it came in near the bottom of the pack for customer satisfaction in the Southwest region in the 2024 U.S. Auto Insurance Study — so you may want to research current customers’ experiences before you buy.
Why Farmers may be best for custom coverage: Farmers goes beyond the standard coverage options you’ll find with every company on this list — like liability, collision and comprehensive coverage — with the Farmers Flex Personal Auto policy. Available coverage options include accident forgiveness, diminishing deductibles, OEM parts coverage, custom equipment coverage for customizations worth over $1,000, rideshare and food delivery coverage, vehicle replacement and enhanced roadside assistance. Farmers’ rental coverage endorsement includes the option to take a daily stipend you can use as you wish instead of booking a rental car while your insured vehicle is in the shop following a claim.
| Bankrate Score | 3.8 |
| J.D. Power | 599/1,000 |
| AM Best Rating | A |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why State Farm made our list: Despite having less competitive average rates than some other carriers on our list, State Farm may still be worth including in your auto insurance search due to its high customer service and claim satisfaction ratings from J.D. Power. In addition to scoring well above the industry average in the 2023 U.S. Auto Claims Satisfaction Study, State Farm scored well for customer satisfaction in the Southwest region in the 2024 U.S. Auto Insurance Study. For drivers willing to pay a little extra for solid service and reliable claims, it may be worth getting quotes from State Farm.
Why State Farm may be best for local agents: With nearly 60 local agents in the Albuquerque area, including many bilingual agents doing business in both English and Spanish, State Farm may offer the best experience for drivers seeking a traditional brick-and-mortar approach to insurance. State Farm’s mobile tools are also highly rated, with an above-average score in the 2024 J.D. Power U.S. Insurance Digital Experience Study, but its agents can provide personal support informed by local needs and risks.
| Bankrate Score | 4.3 |
| J.D. Power | 646/1,000 |
| AM Best Rating | A++ |
Bankrate's trusted insurance industry expertise
Read our full methodologyBankrate’s insurance editorial team is made up of licensed insurance agents and industry professionals with decades of combined experience. To ensure that our recommendations are based on the latest data, we work with Quadrant Information Services to provide the most up-to-date premium information based on your location and available carriers.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest car insurance companies in Albuquerque
According to our research, the three cheapest car insurance companies for Albuquerque drivers seeking minimum coverage are Central Mutual, Geico and USAA. Keep in mind, however, that other New Mexico insurers may offer competitive rates based on your profile, your vehicle or your coverage selections.
|
|
|
|
|---|---|---|
|
$356
|
$1,664
|
|
|
$441
|
$1,676
|
|
|
$447
|
$1,682
|
|
|
Central Mutual
|
$288
|
$1,839
|
|
$458
|
$2,775
|
How much is car insurance in Albuquerque, New Mexico?
The average cost of car insurance in Albuquerque, New Mexico is $2,437 per year for full coverage and $527 per year for state minimum coverage. That’s 11 percent more than the New Mexico average and 8 percent less than the national average for full coverage.
However, these average rates are based on middle-aged drivers with clean driving records — which doesn’t account for the large number of drivers in Albuquerque who don’t fit that profile. Your age, driving record, vehicle type and other rating factors can all impact how much you actually pay to insure your vehicle in Albuquerque.
Albuquerque rates for teens
Teen drivers in Albuquerque pay some of the highest rates for auto insurance because their lack of driving experience makes them a higher risk for insurance companies. Staying on their parents' policy can dilute a teen’s insurance risk, leading to more affordable average rates. On average, a married couple in Albuquerque with an 18-year-old on their full coverage policy pay $4,080 per year, compared to the $7,734 per year their teen would pay for the same coverage on a standalone policy.
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|
|
|
|---|---|---|
|
Central Mutual
|
$923
|
$732
|
|
$1,116
|
$849
|
|
|
$1,140
|
$864
|
|
|
$1,212
|
$982
|
|
|
$1,352
|
$850
|
|
|
|
|
|---|---|---|
|
Central Mutual
|
$3,566
|
$3,054
|
|
$3,834
|
$3,118
|
|
|
$4,054
|
$3,329
|
|
|
$4,286
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$2,831
|
|
|
$5,464
|
$4,827
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Albuquerque rates for young drivers
Young adults in Albuquerque should see their rates begin to decrease as they hit their early 20s, with a larger decrease after age 25 as long as they maintain a clean driving record. On average, 25-year-olds in Albuquerque pay an annual premium of $3,011 for full coverage insurance, compared to $4,970 per year for 20-year-olds with the same coverage level.
|
|
|
|
|---|---|---|
|
Central Mutual
|
$566
|
$380
|
|
$916
|
$457
|
|
|
$980
|
$548
|
|
|
$1,048
|
$485
|
|
|
$1,110
|
$695
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|
|
|
|
|---|---|---|
|
Central Mutual
|
$2,772
|
$2,230
|
|
$3,539
|
$2,051
|
|
|
$3,629
|
$2,056
|
|
|
$4,065
|
$1,897
|
|
|
$5,607
|
$3,977
|
Albuquerque rates for adults
As drivers move into adulthood, car insurance rates typically stabilize. According to Bankrate’s research, the average annual full coverage premium for a 30-year-old driver in Albuquerque is $2,598, while the same coverage costs $2,598 per year, on average, for a 50-year-old driver.
|
|
|
|
|
|---|---|---|---|
|
Central Mutual
|
$322
|
$288
|
$282
|
|
$364
|
$356
|
$337
|
|
|
$447
|
$447
|
$432
|
|
|
$488
|
$441
|
$424
|
|
|
$530
|
$458
|
$423
|
|
|
|
|
|
|---|---|---|---|
|
$1,682
|
$1,682
|
$1,580
|
|
|
$1,731
|
$1,664
|
$1,576
|
|
|
$1,855
|
$1,676
|
$1,580
|
|
|
Central Mutual
|
$2,027
|
$1,839
|
$1,787
|
|
$3,288
|
$2,775
|
$2,455
|
Albuquerque rates for senior drivers
For seniors, car insurance rates are typically quite low as a reflection of years of on-road experience. However, as drivers enter their 70s and 80s, many insurers may begin to raise rates again to cover the added risk of vision problems, delayed reaction times and vulnerability to severe injuries. For a 70-year-old in Albuquerque, the average annual full coverage premium is $2,376, compared to $2,206 for 60-year-olds.
|
|
|
|
|---|---|---|
|
Central Mutual
|
$304
|
$381
|
|
$347
|
$453
|
|
|
$409
|
$453
|
|
|
$434
|
$470
|
|
|
$436
|
$539
|
|
|
|
|
|---|---|---|
|
$434
|
$1,522
|
|
|
$436
|
$1,766
|
|
|
$347
|
$1,860
|
|
|
Central Mutual
|
$304
|
$2,132
|
|
$409
|
$2,392
|
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Compare auto insurance rates
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The cheapest car insurance in Albuquerque by driving record
Your New Mexico driving record gives insurance companies insight into your risk of accidents and associated insurance claims. A moving violation conviction, from a speeding ticket to a serious offense like a DWI, could cause your rates to go up, while maintaining a clean driving record can help you secure lower rates.
Car insurance with a speeding ticket in Albuquerque
Drivers in Albuquerque with a single speeding ticket pay an average of $2,855 per year for full coverage — 17 percent more, on average, than drivers with a clean record. Comparing quotes from multiple providers could help you find more affordable rates following a speeding ticket conviction.
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|
|
|
|---|---|---|
|
Central Mutual
|
$339
|
$2,033
|
|
$441
|
$1,961
|
|
|
$501
|
$1,858
|
|
|
$534
|
$1,995
|
|
|
$590
|
$3,564
|
Car insurance after an accident in Albuquerque
If you’re found at fault in an accident, your insurance company will likely raise your premium at your policy’s next renewal. Bankrate found that Albuquerque drivers with a single at-fault accident on their record pay 35 percent more for full coverage car insurance than drivers with clean records, for a total average annual premium of $3,293.
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|
|
|
|---|---|---|
|
Central Mutual
|
$288
|
$1,839
|
|
$538
|
$1,976
|
|
|
$619
|
$2,608
|
|
|
$650
|
$2,345
|
|
|
$750
|
$4,278
|
Car insurance after a DWI in Albuquerque
A conviction for driving while intoxicated (DWI) carries serious penalties in New Mexico, including up to 90 days in jail, a $500 fine, community service, DWI school and a victim impact panel. Drivers with this conviction also pay 76 percent more for full coverage and 100 percent more for state minimum coverage, on average, than Albuquerque drivers with clean records.
|
|
|
|
|---|---|---|
|
Central Mutual
|
$485
|
$2,610
|
|
$536
|
$3,205
|
|
|
$971
|
$4,687
|
|
|
$992
|
$3,710
|
|
|
$1,098
|
$4,305
|
Minimum coverage requirements in Albuquerque
All drivers in Albuquerque must carry at least the minimum coverage mandated for all New Mexico drivers by law:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $10,000 property damage liability per accident
In addition to minimum liability coverage, all insurance companies must offer uninsured/underinsured motorist (UM/UIM) coverage that matches the liability limits on your policy. You can reject this part of New Mexico’s default coverage and still be in compliance with the law. However, most insurance professionals recommend keeping UM/UIM and raising your liability limits beyond the low level required by New Mexico law.
In addition, you may need full coverage on your vehicle, especially if you don’t own it outright. Most auto loan and lease agreements require you to maintain full coverage until the vehicle is paid off — and even then, many drivers choose to keep full coverage to guard against the steep cost of replacing a vehicle out of pocket after a theft or total loss.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze February 2025 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2023 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.
Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Teens: Rates were determined by adding a 16- or 18-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Bankrate Score
Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
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Cost & ratings 50%
-
Coverage & savings 30%
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Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
