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Based on an analysis by Insure.com, the typical car insurance expense in Roswell, New Mexico is $2,146 annually. Furthermore, car insurance premiums in Roswell are $97 more than compared to the state average in New Mexico and $251 more than the national average.

Graph
Table
City average ratesState average ratesNational average cost
$2,146$2,049$1,895

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Roswell, the average car insurance rates by age and gender, and the costs in Roswell based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Roswell. Keep reading to learn more.

Key Takeaways

  • The annual cost of car insurance in Roswell, New Mexico is $2,146.
  • Geico provides the most affordable car insurance in Roswell at $1,323 annually.
  • Young adults in Roswell can expect to pay approximately $3,205 annually for car insurance.

Cheap car insurance companies in Roswell

Geico offers the cheapest car insurance in Roswell, at an average of $1,323 per year with full coverage limits of 100/300/100.

The second cheapest company in Roswell is Progressive, offering car insurance rates at $1,547 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Roswell before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Roswell, New Mexico:

Affordable car insurance providers in Roswell

Graph
Table
Company NameAverage annual costAverage monthly cost
Geico$1,323$110
Progressive$1,547$129
State Farm$1,684$140
Central Insurance$1,782$148
Nationwide$1,879$157
Farmers$2,638$220
Iowa Farm Bureau$3,106$259
Allstate$3,201$267
Kemper$3,623$302
USAA$1,045$87

Read about the best car insurance companies.

Average car insurance cost in Roswell by coverage limits

In Roswell, the average car insurance rates the coverage levels are as follows:

  • State minimum coverage: $413 per year (limits are 25/50/25)
  • Liability only coverage: $627 per year (limits are 50/100/50)
  • Full coverage: $2,146 per year (limits are 100/300/100)
  • Non-owners coverage: $287 per year

In most states, drivers are required to have state minimum coverage to drive legally, although these requirements vary by state. However, it’s important to note that state minimum coverage does not provide coverage for any vehicles listed on your policy in the event of an at-fault accident.

To prevent compromising on coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage if you frequently borrow or rent a car but do not own one.

Average car insurance rates by gender in Roswell

In Roswell, New Mexico, the average annual car insurance premium for female drivers is $2,187 per year.

While the average annual cost for male drivers is $2,102 per year, which is $85 less than what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Roswell

In Roswell, car insurance rates are highest for teens, averaging $6,519 per year or $543 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $3,205 annually for their car insurance, which is $3,314 less than what teens pay for their coverage.

In Roswell, adult drivers pay an average of $2,120 per year for car insurance, while senior drivers pay $2,128 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rates by age groups in Roswell

Graph
Table
Teens (16- to 19-year-olds)Young adults (20- to 24-year-olds)Adults (25- to 55-year-olds)Seniors (60- to 75-year-olds)
$6,519$3,205$2,120$2,128

If we look at the car insurance rates trends in Roswell, New Mexico, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 41%, or $624.

The table below shows the trend for last four years:

How car insurance rates are changing in Roswell

Graph
Table
2016 rates2019 rates2022 rates2023 rates
$1,278$1,612$1,522$2,146

Conclusion

In conclusion, the insurance rates in Roswell, are higher than the average insurance cost in New Mexico. Shopping around and taking advantage of available discounts, drivers in Roswell can find affordable car insurance options. Many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

  • $100,000 bodily injury per person
  • $300,000 bodily injury per accident
  • $100,000 property damage per accident
  • $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

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Prachi Singh
Contributing Researcher

 
  

Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.

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