Best cheap car insurance in Albuquerque for 2025

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.

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.

How much is car insurance in Albuquerque, New Mexico?

The average cost of car insurance in Albuquerque, New Mexico is $2,441 per year for full coverage and $528 per year for state minimum coverage. That’s 11 percent more than the New Mexico average and 9 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 $4,110 per year, compared to the $7,787 per year their teen would pay for the same coverage on a standalone policy.

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 $3,013 for full coverage insurance, compared to $5,005 per year for 20-year-olds with the same coverage level.

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 $2,600, while the same coverage costs $2,600 per year, on average, for a 50-year-old driver.

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 $2,382, compared to $2,212 for 60-year-olds.

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 $2,872 per year for full coverage — 18 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.

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 $3,308.

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 78 percent more for full coverage and 98 percent more for state minimum coverage, on average, than Albuquerque drivers with clean records.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 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 2025 Bankrate Score for auto insurance considers key variables that our insurance editorial team determined impact policyholders’ experiences with an insurance company. These factors include a robust assessment of each company’s cost of coverage, product availability, financial strength ratings, online capabilities and customer and claims support accessibility. We grouped these factors into three essential categories — cost and ratings, coverage and savings, and support — which we then weighted in a tiered approach. 

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.

• 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.