How Much is Insurance for a Honda Civic in New Mexico?

Our editors have a joke that when writing about auto insurance, the words cheap or affordable should never be used anywhere to describe car insurance prices. Forgive the oxymoron, but cheap car insurance for a Honda Civic does not exist. But fear not, because we will tell you how you can still get car insurance that is more affordable.

The chances of buying the cheapest coverage for a Honda Civic in New Mexico is dependent upon a calculation that uses factors such as the amount of driving experience you have, if you have maintained coverage continuously, and any past driving violations you may have had. Drivers in New Mexico pay on average $1,180 per year to insure a Civic, but that cost is an estimation calculated using a 40-year-old single male that included full comprehensive and collision coverage and $500 deductibles.

There is a high probability that you are not 40 and maybe not even a male, you might be married instead of single, or maybe you just want different deductibles. Each driver’s needs are different, and that demonstrates why the most reliable method for finding the cheapest rates for your Honda is to shop your policy around every couple of years.

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The specific trim level tends to have a direct impact on the cost of insurance, so the rate you will pay to insure a Civic DX 4-Dr Sedan trim level will be $392 cheaper than the price to insure the higher-priced Civic SI 2-Dr Coupe model, as shown in the chart below.

Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Prices do not factor in garaging location in New Mexico which can revise premiums significantly.

Deciding which companies have the lowest-priced insurance rates for a Honda Civic may require a little more work than just comparing rates from one or two companies.

Each auto insurance company uses different criteria for establishing rates, so we’ll take a look at the most competitive insurance companies in New Mexico.

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USAA normally has some of the cheapest car insurance rates in New Mexico at around $657 annually. Allied, Safeco, Farm Bureau Mutual, and The Hartford are also some of the cheaper New Mexico insurance companies.

As the example above demonstrates, if you have coverage with Farm Bureau Mutual and switched to Allied, you might realize savings of approxmiately $266. New Mexico drivers with The Hartford could save as much as $364 a year, and Farmers insureds might lower prices by $367 a year.

Bear in mind that those estimates are averages across all ages of drivers and types of vehicles and are not factoring in a specific rating modification for a Honda Civic. So the insurer that can offer you the lowest price may not even be featured in the chart above. That point stresses why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.

Accidents and violations increase rates

In a perfect world, the best way to receive cheap insurance rates in New Mexico for a Civic is to be a cautious driver and not have accidents or get tickets. The information below highlights how speeding tickets and fender-benders raise insurance costs for each age group. The price estimates are based on a married male driver, comp and collision included, $500 deductibles, and no discounts are taken into consideration.

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In the example above, the average cost of a car insurance policy in New Mexico per year with no accidents and a clean driving record is $1,596. Add in two speeding tickets and the average cost jumps to $2,204, an increase of $607 each year. Now get two accidents along with the two speeding tickets and the annual cost of insurance for a Honda Civic jumps again to an average of $4,550. That’s an increase of $2,954, or $246 per month, just for not being more responsible behind the wheel!

Geico, Allstate, Progressive, or State Farm: Who is cheapest?

If you are shopping around for insurance for a Civic, four companies to take a look at are Geico, Allstate, Progressive, and State Farm. The table below breaks down price and claims rank as well as some different options that you can purchase from each one.

Cheap Honda Civic insurance quotes

Drivers have a lot of ways to find cheaper insurance in New Mexico, but the most preferred are either through a captive (or exclusive) agent like Allstate or Liberty Mutual, an independent insurance agent, or direct online or over the phone from a company like Progressive or Geico.

All three ways are similar, but they differ in how they work.

Independent insurance agencies are appointed by several companies and can get rate quotes from every one. Agents of this type are not required to write business for one company and can provide you with more rate quotes, which can give you a better overall rate comparison. If your premiums go up, it’s simple to move the policy which is easy for the insured.

Exclusive agents are only able to give prices for just one company, two of the more popular are a State Farm or Liberty Mutual agent. They generally cannot quote prices from more than a single company, which requires you to shop around.

The last way is buying direct, which means you skip an exlusive or independent agent and instead shop from a direct company like Geico. Buying insurance direct is good for people who do not need advice for asset protection and understand what specific coverages and deductibles they need.

What is the best method for finding cheap insurance for a Honda Civic in New Mexico? The majority of people assume that buying from a direct company saves the most money since it doesn’t require paying agent commissions, but in reality, that is not true. A valid argument could also be made that going through an independent agent results in the cheapest rates due to having more companies to select from, but again, that’s not a true statement. For some people, exclusive agents have really good rates well below independent agents AND direct companies.

Because there are so many factors that make up insurance rates, the guaranteed way to not overpay for insurance is to compare, compare, and compare some more. Experts recommend getting rate quotes from independent agents, exclusive agents, and direct companies to give yourself plenty of rates to compare. For a list of companies with some of the cheapest New Mexico insurance rates, click here to view.