Who Has Cheap Car Insurance for 19 Year Olds in New Mexico?

Finding cheap insurance is not most people’s favorite thing to do, and determining which insurers offer the best insurance rates for 19 year olds will involve even more perseverance. Coverage prices could be significantly more expensive than the average rate in New Mexico due to the higher likelihood of claims that comes with selling coverage for teenage drivers, but reasonably-priced coverage may be achievable with some perseverence. Each insurance company uses a little different formula to determine rates, so let’s take a look at the most budget-friendly insurance companies in New Mexico.

It’s important that readers know that New Mexico insurance rates are impacted by many factors that may substantially change the policy premium. This is why it is crucial to compare many different companies to find the most affordable insurance rates for 19 year olds. Rates are determined by many things and can decrease or increase without notice, so the cheapest company when you last compared rates may now be quite expensive.

Best Car Insurance Prices for Teens

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USAA offers some of the most affordable car insurance rates in New Mexico at around $663 a year. Allied, Safeco, Farm Bureau Mutual, and Farmers would also make the list of some of the more affordable New Mexico car insurance companies.

As shown above, if you buy coverage from Allied and switched to USAA, you could earn an annual premium reduction of about $285. Customers with Safeco may save as much as $341 a year, and Farm Bureau Mutual customers might lower prices by up to $515 a year.

Be aware that those estimates are averages across all drivers and vehicles in New Mexico and do not factor in a rate increase for 19 year olds. So the insurer that is best for you may not even be shown in the above rate chart. That helps illustrate why you need to quote rates from as many companies as possible using your own personal information and vehicle type.

The model of vehicle you are buying coverage for is one of the primary factors when looking for cheap car insurance for 19 year olds in New Mexico. Vehicles with limited top-end speed, a plethora of safety features, or a positive history of liability claims will cost much less to insure than higher performance models. The data below outlines insurance premiums for the most budget-friendly automobiles to buy coverage for.

Data assumes single male driver age 19, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in zip code location which can change rates considerably.

Table data assumes single male driver age 19, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate information does not factor in New Mexico location which can raise or lower rates substantially.

Data variables include single male driver age 19, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in garaging location in New Mexico which can revise coverage prices considerably.

Picking the highest-rated auto insurance provider can be challenging considering how many different companies there are to choose from in New Mexico. The company information listed below can help you choose which companies to look at when trying to find the cheapest insurance for 19 year olds.

The ratings below are for large nationwide companies, so companies with more of a regional focus will not be included in the list. If you would like to check rates from these companies and more, simply click here.

Top 10 Large Auto Insurance Companies in New Mexico Ranked by Customer Satisfaction

1. Titan Insurance – 95%
2. USAA – 94%
3. AAA Insurance – 91%
4. Nationwide – 90%
5. State Farm – 90%
6. The Hartford – 89%
7. GEICO – 89%
8. Allstate – 88%
9. 21st Century – 88%
10. The General – 88%

How careless driving impacts New Mexico insurance rates

The recommended way to snag low insurance rates in New Mexico for teenage drivers is to be an attentive driver and avoid getting tickets or having accidents. The illustration below shows how speeding tickets and at-fault accidents can drive up insurance premiums for each different age group. The premium estimates are based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied.

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In the prior example, the average cost of a car insurance policy in New Mexico per year with no accidents or violations is $1,040. Add in one speeding ticket and the average cost swells to $1,215, an increase of $175 each year. Then include two accidents along with the one speeding ticket and the 12-month cost of insurance for 19 year olds increases to an average of $2,849. That’s an increase of $1,809, or $151 per month, just for not being a responsible driver!

Cheapest insurance quotes for teenage drivers

Drivers have a lot of different ways to shop for and buy insurance in New Mexico, but the most prevalent ways are using an independent or non-exclusive agent, an exclusive insurance agency like Allstate or Liberty Mutual, or buying direct from a company like Progressive or Geico.

Each way has the same basic steps, but each is different in how they function.

Independent agencies can place your business with multiple companies and can get rate quotes from every one. These agents have the option to compare multiple rates, which may give you the best chance of saving money. If they find a cheaper price, they simply move your policy to a different company and you can remain with the same agent.

A captive or exclusive agent is only able to quote rates from a single insurance company, two examples being Allstate and Liberty Mutual agents. Exclusive agents normally do not have the ability to provide rates from more than one company, so drivers will want to get other quotes as well.

The last way is buying direct, which means you bypass an independent or exclusive agent and buy direct from companies such as Progressive or Geico. This option can be good for families who have lower risk management needs and understand what limits they need.

So which method is best to buy cheap car insurance for 19 year olds in New Mexico? The majority of insurance shoppers assume that shopping direct saves the most money since there isn’t an agent involved, but that is generally not the case. It could also be said an independent agent guarantees the best prices since they can provide multiple quotes, but that assumption is also not necessarily accurate. For some people, exclusive agencies have extremely competitive rates that independents and direct companies can’t touch.

Because it’s impossible to say who has the best insurance rates, the best way to ensure the lowest rates is to do a thorough rate comparison. Make the effort to get price quotes from independent, exclusive, and direct in order to have the best selection to choose from. For a list of companies with online discounts, click here to view.