Average insurance rates across 31 cities in New Mexico
| City | Population | Home /yr | Auto /yr | Health | Renters |
|---|---|---|---|---|---|
| Albuquerque | 564,559 | $1,581 | $1,488 | $455/mo | $15/mo |
| Las Cruces | 140,915 | $1,581 | $1,488 | $455/mo | $15/mo |
| Rio Rancho | 104,351 | $1,581 | $1,488 | $455/mo | $15/mo |
| Santa Fe | 93,165 | $1,581 | $1,488 | $455/mo | $15/mo |
| Roswell | 48,035 | $1,581 | $1,488 | $455/mo | $15/mo |
| Farmington | 46,457 | $1,581 | $1,488 | $455/mo | $15/mo |
| Hobbs | 39,782 | $1,581 | $1,488 | $455/mo | $15/mo |
| Clovis | 38,453 | $1,581 | $1,488 | $455/mo | $15/mo |
| South Valley | 37,601 | $1,581 | $1,488 | $455/mo | $15/mo |
| Carlsbad | 31,755 | $1,581 | $1,488 | $455/mo | $15/mo |
| Alamogordo | 30,996 | $1,581 | $1,488 | $455/mo | $15/mo |
| Gallup | 21,672 | $1,581 | $1,488 | $455/mo | $15/mo |
| Los Lunas | 17,452 | $1,581 | $1,488 | $455/mo | $15/mo |
| Sunland Park | 16,773 | $1,581 | $1,488 | $455/mo | $15/mo |
| Chaparral | 15,290 | $1,581 | $1,488 | $455/mo | $15/mo |
New Mexico residents pay an average of $1,700 per year for home insurance and $1,600 for auto insurance. New Mexico follows an at-fault insurance system, meaning the driver who caused the accident is responsible for damages. The minimum auto liability coverage required is 25/50/10.
Health insurance in New Mexico averages $460 per month for an individual Silver marketplace plan. The weather risk level is medium, with moderate natural disaster risk. Top insurance providers in New Mexico include State Farm, Geico, Progressive.
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Policygenius The ZebraThe average home insurance cost in New Mexico is $1,700 per year. Rates range from $1,050 to $2,400 depending on home value, location, and coverage level.
Auto insurance in New Mexico averages $1,600 per year for full coverage. The state minimum coverage is 25/50/10.
New Mexico has below-average insurance costs, with home insurance at $1,700/yr and auto at $1,600/yr compared to national averages of $2,300 and $1,800 respectively.
New Mexico requires minimum liability coverage of 25/50/10 (bodily injury per person / per accident / property damage in thousands). It follows an at-fault system.
Last updated: March 2026. Insurance cost estimates are averages for informational purposes.