Cheapest Auto Insurance for 16 Year Olds in New Mexico

The words “low-priced” and “insurance” really shouldn’t be used in the same sentence, specifically when searching for the best car insurance rates for 16 year olds. Because of the high cost, let’s familiarize you with some of the things that impact car insurance rates, and find some ways to shave a little off the next policy you buy.

Shopping around for low-cost insurance is tough enough, and determining which companies offer the lowest-priced insurance rates for 16 year olds involves more quotes for comparison. Insurance rates could be quite a bit higher than the state average due to the extra risk associated with selling insurance for new drivers, but affordable coverage should be achievable if you look hard enough.

Each insurer uses their own calculation to establish rates, so let’s rank the lowest cost insurance companies in New Mexico. Keep in mind that New Mexico insurance rates are based on many factors that can increase the cost of having a policy. Getting older, buying a higher-value vehicle, or getting a DUI can trigger changes in premium that can now make some companies higher when they were quite affordable.

Cheap Insurance Rates for Teens

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USAA has some of the lowest car insurance rates in New Mexico at around $657 each year. Allied, Safeco, Farm Bureau Mutual, and Farmers also are some of the cheaper New Mexico car insurance companies.

As the rates illustrate above, if you are insured with Allied and switched to USAA, you could earn annual savings of approxmiately $263. Customers with Safeco might save as much as $357 a year, and Farm Bureau Mutual policyholders might realize rate reductions of up to $521 a year.

To compare your rates to other New Mexico insurance companies, click here to get a free quote or visit any of the low-priced companies below.

Be aware that those policy prices are averages for all types of insureds and vehicles and do not take into consideration a price surcharge for 16 year olds. So the company that can offer you the lowest price may not even be included in the above rate chart. That point stresses why you need to quote rates from many companies using your own driver information and specific vehicle type.

Everyone has different tastes in autos, and the style of vehicle to be insured is a significant factor when trying to find cheap coverage for 16 year olds. Vehicles with high performance engines, poor safety features, or an increased likelihood of liability claims will cost significantly more to insure than safer, lower-performance models. The lists below shows auto insurance premiums for the cheaper vehicles to insure in New Mexico.

Above prices assume single male driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in the specific area where the vehicle is garaged which can decrease or increase auto insurance rates greatly.

Data variables include single male driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in vehicle location which can revise price quotes considerably.

Data variables include single male driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in specific New Mexico garaging location which can change rates considerably.

Picking the right company can be rather challenging considering how many companies there are in New Mexico. The rank data shown next can help you pick which providers you want to consider comparing rates from.

These ratings are for major nationwide insurance companies, so smaller regional companies are not factored into the list. To compare rates from the most competitive companies in New Mexico, simply click here.