New Mexico Car Insurance Calculator

There are countless factors that affect auto insurance premiums, making it hard to ascertain the right amount of coverage or policy for yourself. Understanding some of the main rate drivers will enable you to make more informed decisions and obtain more cost-effective policies.

Your location and driving record both contribute to your insurance costs, with certain areas posing more of a risk due to crime rates, traffic congestion or auto thefts. Furthermore, violations or accidents such as speeding tickets could increase premiums considerably; similarly if multiple at-fault crashes or DUI convictions appear on your record this will also raise them significantly.

Additionally, the type of vehicle and whether or not teen drivers are added can also have an impact on how much your car insurance costs. Younger drivers tend to pay higher premiums as they’re seen as riskier drivers; an accident caused by them or DUI can increase rates significantly.

Your credit score also plays a big part in rates; some carriers use it to assess your likelihood of defaulting on auto insurance policy payments. People with poor credit tend to pay more as carriers view them as high-risk customers; improving it could help decrease premium costs in New Mexico.

New Mexico is one of few states that does not prohibit credit as a rating factor, leading many insurance providers to use it when calculating premiums. Your vehicle type also plays an integral part in your car insurance costs – for instance an SUV or truck will often command higher premiums as its higher likelihood of damage increases their risks of collision.

Another factor influencing car insurance rates in New Mexico is how long you have had continuous coverage. Drivers who let their coverage lapse will pay more, making the extra payment worthwhile so as to return swiftly back on the road.

At an average, you should expect to pay $622 annually for minimum coverage and $2,014 annually for full coverage in New Mexico car insurance policies. But this figure may differ wildly – simply enter your information for customized rates from top providers.