Car insurance in Albuquerque: Cheapest insurance and average rates

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Car insurance in Albuquerque costs $2,231 per year for full coverage – $186 monthly. USAA offers the cheapest car insurance policy at $98 per month.

Albuquerque is a metro area of almost 1 million people. If you are moving to Albuquerque — or already live there — it is important to find the right car insurance policy. Fortunately, there are ways to get cheap car insurance in Albuquerque that will provide the coverage you need. 

Learn more about what a typical policy costs in Albuquerque and what you need to know if you are new to the city. 

How to find the best car insurance in Albuquerque, NM

With the right tools and a little work, you can find the best car insurance policy in Albuquerque that marries the coverage you need with a cost you can afford. 

Before shopping for car insurance, determine the type of policy you need, including the amount of coverage necessary to protect yourself. Get quotes from at least three companies comparing similar coverage limits and options and ask about any discounts you qualify for. It’s always best to buy as much coverage as you can afford.

Cheapest car insurance company in Albuquerque 

USAA provides the cheapest car insurance in Albuquerque, according to recent data. It costs an average of $1,173 annually to purchase a full-coverage policy from the insurer. The next cheapest car insurance companies are Central Insurance and Geico.

See other cheap car insurance rates in Albuquerque in the table below.

Average annual rates from insurers in Albuquerque 

How much is car insurance in Albuquerque per month?

Albuquerque residents can expect to pay an average of $186 per month in full coverage car insurance costs, or $45 per month for the state minimum coverage.

Of course, some drivers pay less than this average, while others pay more. Factors that determine how much you pay for car insurance include the insurance company you choose and the amount of coverage you need. 

Other factors — including your age and gender, car type, and history of accidents and violations — also influence car insurance costs.  

Monthly rates for car insurance in Albuquerque, New Mexico

How do rates in Albuquerque compare to other large cities in the U.S.?

The cost of coverage in Albuquerque is in the middle of the pack among other major cities. New Mexico drivers pay $2,049 annually statewide – slightly lower rates than Albuquerque’s $2,231.

See how much you can expect to pay for car insurance in several major U.S. cities in the table below.

Monthly full-coverage car insurance costs in major U.S. metropolitan areas

Here’s what you need to know when driving in Albuquerque 

Albuquerque’s traffic woes are relatively minor compared to many other metros in the country.  

In 2022, drivers in Albuquerque lost an average of 20 hours in traffic, according to INRIX, which looks at traffic patterns. That makes Albuquerque the 65th most-congested city in the U.S.

If you are driving in the Albuquerque area during rush hour, you can expect to spend an extra 14.6 minutes in traffic, according to the website CoPilot. That places Albuquerque at No. 39 among all cities in the nation when it comes to losing time due to rush hour. 

Other things to remember when driving around Albuquerque:

• Speed limits in New Mexico are typically 30 mph on residential streets, and 75 on urban highways. Signs should mark when speed limits vary from these standards. 
• There are no toll roads anywhere in New Mexico. That means you will not have to pay to drive any roads in Albuquerque.
• Traffic violations can result in points on your driver’s license. If you accumulate seven to 10 points in a one-year period, your license will be suspended for up to three months. If you accumulate 12 points during a 12-month period, your license could be suspended for a year.

How much car insurance do I need in Albuquerque?

Virtually every state requires you to purchase a minimum amount of car insurance coverage. 

“Some types of coverage are required by state law, depending on where you live,” says Carole Walker, executive director of the Rocky Mountain Insurance Information Association. “Others are optional.”

New Mexico is no different. It requires you to carry liability coverage that at minimum includes the following amounts:

• $25,000 per person for bodily injury to or death of one person
• $50,000 for bodily injury to or death of two or more persons
• $10,000 for property damage in any one accident

This is often referred to as “25/50/10 coverage.”

However, these minimum levels of coverage will not be adequate for most drivers. Many drivers will prefer to carry much higher levels of liability coverage so they are better protected financially. In addition, liability insurance does not cover you or your car. 

That means drivers also might be interested in going beyond the minimum and protecting their own vehicles by purchasing insurance beyond the minimum, such as comprehensive and collision coverage. 

If you are unsure of how much coverage you need, consult with an insurance agent who can help. 

Average cost of car insurance in Albuquerque 

The average cost of full-coverage car insurance in Albuquerque is $2,231 annually. That compares to a statewide average of $2,049 and a nationwide average of $1,895. 

Annual average rates in Albuquerque for state minimum coverage and full coverage

How much does car insurance in Albuquerque cost with violations?

Moving violations on your driving record will increase your car insurance rates.  Violations such as speeding tickets often cause a significant but manageable rise in rates. Other types of violations can make rates climb much higher. This is particularly true if you are convicted of a DUI. 

See rate increases in Albuquerque in the table below by violation.

Cheapest car insurance in Albuquerque, by age

Your age will impact how much you pay for car insurance. The youngest drivers tend to pay the highest rates. The oldest drivers also are likely to pay more. See how much you can expect to pay by age in the table below.

Annual rates for state minimum and full coverage car insurance in Albuquerque, by age

Compare auto insurance rates in Albuquerque, by ZIP code 

Where you live also plays a role in how much you pay for car insurance. Here are the Albuquerque area ZIP codes with the cheapest (87114) and most expensive car insurance rates (87108). See the tables below for the cheapest and most expensive ZIP codes for car insurance in Albuquerque. 

Cheapest annual car insurance rates in Albuquerque, by ZIP code 

Most expensive annual car insurance rates in Albuquerque, by ZIP code 

Our recommendations: Car insurance for drivers in Albuquerque 

If low prices are your top focus when shopping for car insurance, USAA might be your best choice. It has the lowest average rates in our survey. 

However, it’s often a mistake to shop by price alone. It is crucial to have the coverage you need, even if you have to pay a little more for it. Shopping around and gathering quotes from several insurance companies is the best way to get the coverage you need at the best price. 

A full coverage insurance policy with liability limits of 100/300/100 is the best option for most drivers. Consider increasing your liability limits as you accumulate wealth and your net worth increases. Purchasing as much car insurance as you can afford will give you peace of mind as you navigate the roads of Albuquerque.

What our expert says

Q: Do states require insurance coverage?

Carole WalkerExecutive director of the Rocky Mountain Insurance Information Association

"Some types of coverage are required by state law, depending on where you live. Others are optional."

Resources & Methodology

Methodology

In 2024, Insure.com commissioned Quadrant Information Services to pull rates for a 40-year-old who has a 12-mile commute and drives a 2023 Honda Accord LX 10k miles annually. The hypothetical driver has full coverage, carrying policy limits of 100/300/100 with $500 deductibles for comprehensive and collision coverages. We analyzed 51,088,003 insurance quotes from 167 companies across 34,588 ZIP codes in every state and Washington, D.C.

Chris Kissell

Contributing Researcher

 

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Chris Kissell is a Denver-based writer and editor with work featured on U.S. News & World Report, MSN Money, Fox Business, Forbes, Yahoo Finance, Money Talks News and more.