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

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Non-owner car insurance in New Mexico costs $303 per year, which is $77 lower than the national average, according to a 2023 rate analysis by Insure.com.

Many companies offer these policies in New Mexico, such as USAA, Geico and Nationwide.

Non-owner car insurance is a policy for people who don’t own a car but often borrow or rent a vehicle. It provides liability coverage for bodily injury and property damage in case you get in an accident while driving a car owned by someone else.

“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 car insurance cost in New Mexico?

It’s usually less expensive to buy a non-owner insurance policy than regular car insurance because insurers consider non-owner policyholders less risky due to their limited access to a vehicle.

In the U.S., it costs an average of $1,682 annually for a 100/300/100 full coverage insurance policy in New Mexico for drivers with a good credit score as well as a clean driving record. This includes $100,000 for injuries you may cause in an accident, up to $300,000 per accident, and an additional $100,000 for any damages to property. In New Mexico, the cost of full coverage car insurance is $1,509.

On the other hand, non-owner car insurance costs $303 a year in New Mexico and $380 on average in the U.S.

Rates are based on various factors, such as how old you are, your chosen insurance company and your driving history.

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

New Mexico’s least expensive non-owner insurance policy is offered by Iowa Farm Bureau at $143.

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

You should compare quotes from multiple insurers in order to find the best price. The cheapest non-owner policies available in New Mexico are listed below.

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?

Age plays an important role in pricing because young people who haven’t been driving for a long time are deemed as higher risk and are more likely to cause an accident. So, older and more experienced drivers usually have less expensive rates. On average, non-owner insurance costs $1,350 a year for a 16-year-old and $304 for a 45-year-old in New Mexico.

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

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

Rates differ from ZIP code to ZIP code.  Insurers consider the number of thefts, collisions and vandalism in different areas when calculating rates.

Below are the cheapest and most expensive cities for non-owner car insurance in New Mexico.

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 auto insurance in New Mexico’s 10 biggest cities?

The largest cities in New Mexico have varying non-owner insurance rates. The non-owner insurance rate in South Valley is the highest at $381 while Farmington has the least expensive rates of the state’s most populous cities at $268.

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

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

From state to state, the rates for non-owner car insurance vary. New Mexico’s average non-owner insurance rate is $303, lower than the $380 average nationally. At $170 per year, South Dakota is the least expensive, followed by Idaho at an average of $190 a year. Iowa is the third cheapest at $193 annually.

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

How to get non-owner auto insurance in New Mexico

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

To purchase a policy, follow these steps:

1. Contact a car 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

Often, you’ll receive proof of insurance very quickly.

For a non-owner auto insurance policy, you’ll have to call an insurance company rather than go online for a quote.

“You must pick up the phone to request a non-owner insurance quote. Although the majority of the major auto insurance providers provide non-owner policies, none of them provide online non-owner insurance estimates,” says Bruce Mohr, senior investment advisor and credit consultant at Fair Credit, a consumer-credit service and consulting company.

Below are a few insurers with their contact 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.