How Much are Car Insurance Quotes for Drivers Under 25 in New Mexico?

Since we’re writing about auto insurance, the word “cheap” really shouldn’t be used anywhere to describe car insurance rates. The fact is, cheap car insurance for drivers under 25 is just plain contradictory. But don’t let that discourage you, because we are going to show you how you can quote auto insurance that you can afford to pay for.

Comparing quotes for low-cost insurance is not most people’s favorite thing to do, and finding out which company has the lowest-priced car insurance rates for drivers under 25 will take even more diligence. Insurance rates will be slightly more expensive than the average rate in New Mexico attributed to the posibility of more claims associated with selling insurance for drivers age 25 and younger, but reasonably-priced coverage should be available with a little diligence. Every insurance provider has their own formula for determining prices, so we’ll go over the most budget-friendly car insurance companies in New Mexico.

Find the Best Cheap Insurance for Young Drivers

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USAA generally has some of the cheapest car insurance rates in New Mexico at around $683 a year. Allied, Safeco, Farm Bureau Mutual, and Farmers would also make the list of some of the best New Mexico car insurance companies.

As shown above, if you buy coverage from Safeco and switched to USAA, you might see annual savings of about $291. New Mexico drivers with Farm Bureau Mutual could save as much as $483 a year, and Farmers insureds might cut rates by $580 a year.

Understand that those premium estimates are averaged for all types of drivers and the different vehicles they drive and do not factor in a rate surcharge for drivers under 25. So the auto insurance company that fits your age and vehicle best may not even be shown in the list above. That helps illustrate why you need to get rate quotes using your own personal information and vehicle type.

The vehicle requiring insurance is a large consideration when comparing cheap auto insurance for drivers under 25 in New Mexico. Vehicles with lots of speed or power, poor safety features, or a high likelihood of having liability claims will cost substantially more to insure than safer, lower-performance models. The tables below shows insurance premiums for the most economical automobiles to buy insurance for.

Cost estimates assume single female driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in the specific area where the vehicle is garaged which can affect coverage prices greatly.

Cost estimates assume single female driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in New Mexico location which can decrease or increase rates substantially.

Data variables include single female driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in your specific New Mexico location which can affect coverage prices substantially.

New Mexico car insurance companies ranked

Finding a good quality insurance company can be difficult considering how many companies there are in New Mexico. The ranking information shown next could help you decide which auto insurers to look at when shopping insurance around for drivers under 25. These rankings are only comprised of companies who write in the majority of U.S. states, so companies that may only write in New Mexico are not factored into this list.

Top 10 Major Auto Insurers in New Mexico Ranked by Claims Service

1. State Farm
2. Esurance
3. AAA Insurance
4. Progressive
5. GEICO
6. Liberty Mutual
7. Allstate
8. Titan Insurance
9. The Hartford
10. The General

Impact of violations and accidents on rates in New Mexico

The easiest way to receive cheap car insurance premiums in New Mexico for drivers age 25 and younger is to drive attentively and avoid accidents and traffic citations. The illustration below demonstrates how traffic citations and accidents can raise car insurance costs for each different age group. The rates are based on a single male driver, full coverage, $100 deductibles, and no discounts are applied.

In the previous example, the average cost of auto insurance in New Mexico per year with no accidents or violations is $2,518. Factor in two speeding tickets and the average cost jumps to $3,347, an increase of $829 each year. Next add two accidents along with the two speeding tickets and the annual cost of car insurance for drivers under 25 jumps again to an average of $6,265. That’s an increase of $3,747, or $312 per month, just for a couple of infractions!

How to get cheap auto insurance for drivers under 25 in New Mexico

It’s not impossible to find cheaper rates, and here are some of the better thrifty solutions that can help New Mexico drivers find the cheapest coverage.

• Avoid price increases by not filing claims
• If your vehicles are older, consider dropping full coverage
• At-fault accidents will increase rates
• Buying car and homeowners insurance together can save money
• Maintain a clean driving record
• Buy a safer vehicle
• Shop around for cheaper rates regularly

That last tip is highly important, as was pointed out in the prior information. Car insurance prices fluctuate considerably, so don’t be unwilling to buy from a different company if you find a cheaper price.

Brand loyalty is great, but we do not recommend it if your bullheadedness ends up costing you money that could be spent on other things. In just a few minutes you could compare rates to find cheaper auto insurance for drivers under 25.