Non-owner car insurance in New Mexico: Which company has the cheapest rates?

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In New Mexico, non-owner policies are available from companies such as USAA, Geico and Nationwide.

“Non-owner policies provide the minimum coverage required by the state, as well as some optional add-ons, but there are specific requirements by the insurance carriers to provide this coverage in lieu of a traditional auto insurance policy,” says Patti Clement, senior vice president of private client services at HUB International, a leading personal insurance brokerage.

Learn more about the various requirements, what non-owner insurance is, which companies offer it and how much it costs in New Mexico.

How much does non-owner auto insurance cost in New Mexico?

Insurance companies view non-owner policyholders as less risky due to their limited access to a vehicle, and therefore, it’s usually less expensive to buy non-owner insurance than full coverage auto insurance.

On average in the U.S., it costs a driver with a clean driving record and good credit score $1,682 a year for a 100/300/100 full coverage insurance policy—$100,000 for injuries you cause in an accident, up to $300,000 per accident, and $100,000 for any damages to property. In New Mexico, full coverage car insurance costs $1,509.

Alternatively, non-owner car insurance costs $353 a year on average in the United States and $289 in New Mexico.

But various factors affect individual rates, such as where in New Mexico you live, your age and driving history and other factors.

Which insurer offers the cheapest non-owner insurance rates in New Mexico?

In New Mexico, Iowa Farm Bureau’s non-owner insurance policy is the cheapest at $143 a year.

At $719 a year, Progressive charges the highest rate for non-owner insurance in the state.

A good rule of thumb is to compare quotes from many different insurance companies to get the best price. Below you’ll find a list of the cheapest non-owner policies offered in New Mexico

Cheapest non-owner insurance rates in New Mexico

Note that USAA only offers coverage to military members, veterans and their families.

How much is non-owner car insurance in New Mexico by age?

Older drivers have been driving longer than younger, inexperienced drivers and are less likely to be in an accident. Their rates are generally lower than those of younger drivers. On average, New Mexico non-owner insurance costs $292 a year for a 45-year-old, while it’s $1,240 for a 16-year-old driver.

Average non-owner car insurance rates in New Mexico by age and gender

Which New Mexico cities have the cheapest non-owner auto insurance?

There’s a great deal of variation from city to city when it comes to rates. Insurers set rates based on data points such as theft, collisions and vandalism in different U.S. cities.

The tables below show which cities in New Mexico have the lowest and highest non-owner car insurance rates.

The 20 New Mexico cities with the lowest non-owner auto insurance rates

The 20 New Mexico cities with the highest non-owner car insurance rates

How much is non-owner car insurance in New Mexico’s 10 biggest cities?

The largest cities in New Mexico have different non-owner insurance rates. The cost of non-owner insurance in Albuquerque is the most expensive at $373. Williamsburg has the least expensive prices of the state’s largest cities at $249.

Non-owner auto rates in New Mexico’s 10 largest cities

How non-owner insurance rates in New Mexico compare to rates in other states

Non-owner car insurance rates also differ from state to state. The average non-owner insurance rate in New Mexico is $289 a year, which is lower than the national average of $353. South Dakota is the cheapest at $170 annually, followed by Idaho at $190 per year and Iowa at $193 per year.

Non-owner auto insurance rates in the 10 most populous states

How to get non-ownercar insurance in New Mexico

Your driver’s license number and a credit or debit card are all you’ll need to get a non-owner insurance policy.

To purchase a policy, follow these steps:

1. Contact an auto insurance agent about the coverage
2. Supply your basic driving history
3. Review the information you receive on the insurers and rates
4. Choose the policy that best meets your needs
5. Put down a payment to begin coverage

In many cases, you’ll get proof of insurance almost immediately.

For a non-owner car insurance policy quote, you must call your insurer instead of visiting its website.

“The best way to find any insurance is to shop around and price match,” says Marlon Moss, a licensed agent at A Plus Insurance.

Here are a few insurers with phone numbers to call for a non-owner insurance quote.

• State Farm: 800-782-8332
• Geico: 800-207-7847
• Progressive: 888-671-4405
• Allstate: 800-726-6033
• USAA: 800-531-8722

Methodology

Insure.com in 2023 compiled non-owner insurance rates from Quadrant Information Services for a 40-year-old male with a good driving record looking for a state minimum, liability-only policy.

Leslie Kasperowicz

Managing Editor

 

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Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at Insurance.com.