Car Insurance with Bad Credit in New Mexico (2026)
Quick Answer
Bad credit in New Mexico increases car insurance by 54%, raising full coverage from $1,854/year to $2,855/year.
✓ Updated March 2026✓ Based on state insurance filings
Good Credit
$155/mo
Poor Credit (1.54x)
$238/mo
Best Companies for Bad Credit in New Mexico
| Company | Monthly | Annual | Best For |
|---|---|---|---|
| CheapestUSAA | $176/mo | $2,113/yr | Military families |
| Erie Insurance | $188/mo | $2,255/yr | Rate lock guarantee |
| GEICO | $195/mo | $2,341/yr | Clean driving record |
| Progressive | $209/mo | $2,512/yr | Telematics savings |
| State Farm | $217/mo | $2,598/yr | Good students |
| Travelers | $226/mo | $2,712/yr | Multiple discounts |
| Nationwide | $247/mo | $2,969/yr | Bundling home + auto |
| Farmers | $257/mo | $3,083/yr | Signal telematics |
| Allstate | $266/mo | $3,198/yr | Accident forgiveness |
| Liberty Mutual | $281/mo | $3,369/yr | New car replacement |
USAACheapest
Monthly
$176/mo
Annual
$2,113/yr
Best for: Military families
Erie Insurance
Monthly
$188/mo
Annual
$2,255/yr
Best for: Rate lock guarantee
GEICO
Monthly
$195/mo
Annual
$2,341/yr
Best for: Clean driving record
Progressive
Monthly
$209/mo
Annual
$2,512/yr
Best for: Telematics savings
State Farm
Monthly
$217/mo
Annual
$2,598/yr
Best for: Good students
Travelers
Monthly
$226/mo
Annual
$2,712/yr
Best for: Multiple discounts
Nationwide
Monthly
$247/mo
Annual
$2,969/yr
Best for: Bundling home + auto
Farmers
Monthly
$257/mo
Annual
$3,083/yr
Best for: Signal telematics
Allstate
Monthly
$266/mo
Annual
$3,198/yr
Best for: Accident forgiveness
Liberty Mutual
Monthly
$281/mo
Annual
$3,369/yr
Best for: New car replacement
These are estimates based on state averages. Your exact rate depends on your specific profile.
✓ No spam calls · ✓ No personal info sold · ✓ Takes 2 minutes