How Much Does Auto Insurance Cost for Drivers with a Bad Driving Record in New Mexico?

How Much Does Auto Insurance Cost for Drivers with a Bad Driving Record in New Mexico?

One of the key factors that play a part in determining the amount you pay for auto insurance is where you choose to live in New Mexico. Cities that have higher claim levels or more people like Albuquerque, Artesia, and Hobbs are more likely to pay higher prices, whereas less populated areas tend to receive slightly lower rates.

The following table sorts the most costly cities in New Mexico for drivers with a bad driving record to buy auto insurance in.

New Mexico cities ranked by car insurance cost
Rank City Average Per Year
1 Albuquerque $1,375
2 South Valley $1,336
3 Artesia $1,317
4 Santa Fe $1,316
5 Hobbs $1,296
6 North Valley $1,290
7 Rio Rancho $1,282
8 Los Lunas $1,263
9 Espanola $1,260
10 Los Alamos $1,256
11 Lovington $1,207
12 Las Vegas $1,195
13 Gallup $1,188
14 Portales $1,186
15 Farmington $1,183
16 Roswell $1,174
17 Carlsbad $1,165
18 Clovis $1,145
19 Las Cruces $1,131
20 Deming $1,109
21 Chaparral $1,103
22 Sunland Park $1,098
23 Alamogordo $1,073
24 Anthony $1,065
25 Silver City $1,053
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Price information shown is approximated as the specific New Mexico residence address can decrease or increase insurance rates noticeably.

Figuring out which insurers offer the most affordable insurance rates for drivers with a bad driving record will take a bit more effort in order to find the most economical policy.

Each auto insurance company uses their own formula to set premium rates, so we need to take a look at the insurance companies with the most affordable rates in New Mexico. Keep in mind that New Mexico insurance rates are impacted by many things which can substantially decrease or increase the price you pay. Getting older, marrying your spouse, or getting a reckless driving citation can trigger price changes resulting in some companies being much cheaper than others.

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google.charts.setOnLoadCallback(drawNMT5qcibChart);function drawNMT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘USAA’, 683, ‘#F08550’], [‘Allied’, 930, ‘#C86E42’], [‘Safeco’, 984, ‘#A65B37’], [‘Farm Bureau Mutual’, 1178, ‘#8A4B2D’], [‘State Farm’, 1297, ‘#733E25’]]);var options = {title: ‘Low-Cost Auto Insurance Companies in New Mexico’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1397,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

USAA generally has some of the most affordable car insurance rates in New Mexico at around $683 per year. Allied, Safeco, Farm Bureau Mutual, and State Farm also qualify as some of the cheapest New Mexico insurance companies.

In the rate table above, if you buy coverage from Safeco and switched to USAA, you might see an annual premium reduction of about $301. Policyholders with Farm Bureau Mutual could save as much as $495 a year, and State Farm customers might lower prices by up to $614 a year.

It’s important to note that these premiums are averaged for all drivers and vehicles and and are not calculated with a price surcharge for drivers with a bad driving record. So the insurer that can offer you the lowest price may not even be featured in the company chart above. That is why you need to compare prices as often as possible using your own specific driver and vehicle information.

Insurance rates are higher with tickets and accidents

One of the best ways to snag cheap insurance for drivers with a bad driving record in New Mexico is to pay attention while driving and avoid accidents and traffic citations. The illustration below demonstrates how citations and at-fault accidents can affect auto insurance rates for different age groups of insureds. The data is based on a married male driver, full physical damage coverage, $100 deductibles, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 2733,2965,4921],[‘Age 30’, 1439,1673,3629],[‘Age 40’, 1379,1615,3569],[‘Age 50’, 1263,1497,3453],[‘Age 60’, 1241,1473,3427],[‘Age 70’, 1425,1653,3609]]);var options = {title: ‘Accidents, Violations, and New Mexico Auto Insurance Prices’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in New Mexico’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the prior example, the average cost of car insurance per year with no accidents or violations is $1,580. Get written up for one speeding ticket and the average cost surges to $1,813, an increase of $233 each year. Next add two accidents along with the one speeding ticket and the yearly cost of insurance for drivers with a bad driving record increases to an average of $3,768. That’s an increase of $2,188, or $182 per month, just for not driving responsibly!

Selecting a highly-rated company is difficult considering how many different companies sell coverage in New Mexico. The company ratings shown below could help you decide which auto insurance companies you want to consider when shopping insurance around for drivers with a bad driving record.

The ratings below are only made up of large insurance companies, so smaller companies will not be included in the list. To get price quotes from these companies and more, click this link.

New Mexico Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Titan Insurance 90 87 91 95% A+ 89.6
Progressive 84 91 93 87% A+ 89.5
Allstate 85 90 92 88% A+ 89.3
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Data Source: Insure.com Best Car Insurance Companies

How to find cheap insurance for drivers with a bad driving record in New Mexico

Below you’ll find some of the better money-saving suggestions that can help New Mexico drivers buy low-cost auto insurance.

  • Drop full coverage on older vehicles
  • Better credit scores save money
  • Violations like speeding or DUI increase rates
  • Avoid at-fault accidents and claims
  • Buy a car with high safety ratings
  • Raise your deductibles
  • Compare rate quotes frequently

The last tip is extraordinarily crucial, as was discussed in the prior information. Auto insurance rates go up and down frequently, so don’t be unwilling to switch to a new company if a cheaper price is available. Many drivers prefer to stick with one company, but it’s not recommended if that inflexibility results in costing you hundreds every year. It only take a few minutes to shop around to find cheaper auto insurance for drivers with a bad driving record.