Best cheap car insurance companies in Albuquerque

Based on average rate data from Quadrant Information Services, some of the cheapest Albuquerque car insurance rates may be found with USAA, Geico and State Farm. However, we know that average rates likely aren’t your only consideration, so we evaluated carriers based on a wide range of factors that may be important to New Mexico drivers. These include available discounts, coverage options and ratings from the 2022 J.D. Power Auto Insurance Study. We also looked at digital tools and financial strength rankings from AM Best. These factors were used to assign each carrier a Bankrate Score out of 5 points. If you’re looking for cheap car insurance in Albuquerque, you may want to start with quotes from these companies.

*USAA is not technically ranked with J.D. Power due to eligibility restrictions. 

USAA

USAA is well known for its outstanding customer service. The carrier earned the highest customer satisfaction score in the Southwest region of J.D. Power’s Auto Insurance Study, although it is not technically eligible for ranking as it only writes policies for active-duty military members, veterans and their eligible families. If you qualify for coverage, you might be interested in the carrier’s military-focused discounts and coverage options. For instance, savings may be available for garaging a vehicle on base. USAA has some of the lowest average rates in Albuquerque, but the carrier only offers quotes online or over the phone, so it may not be the best option for drivers who prefer to work with an agent in person.

Learn more: USAA Insurance review 

Geico

Geico offers low average premiums in Albuquerque and a long list of potential discounts for additional savings. Policyholders may save extra with discounts for bundling, good students, military service, professional affiliation and enrolling in the carrier’s telematics program, DriveEasy. Geico scored above the industry average in the Southwest region of J.D. Power’s customer satisfaction study, but it does not offer as many endorsements as some competitors.

Learn more: Geico Insurance review

State Farm

State Farm has over 60 agents located in the greater Albuquerque area, which may be part of the reason it achieved the highest official ranking in the Southwest region of J.D. Power’s customer satisfaction study. State Farm’s rates may not be the lowest on our list, but they still fall below the city average, and policyholders may save extra with potential discounts for bundling, safe driving, good students and enrolling in one of the carrier’s two telematics programs. Drivers may be able to build a more robust State Farm policy with endorsements for roadside assistance, ridesharing, rental car reimbursement and travel expenses.

Learn more: State Farm Insurance review

How to get and keep the cheapest car insurance in Albuquerque

Although Albuquerque’s average rates are lower than the national average, they are still high compared to the New Mexico average of $1,591 for full coverage and $346 for minimum coverage. If you’re looking to find cheap rates and keep them steady over time, you might consider the following strategies:

• Shop around and compare quotes: Carriers have their own algorithms for determining car insurance rates, so comparing quotes from different companies may help you identify which can offer you the best rates for your circumstances and coverage needs.
• Maintain a clean driving record: Drivers with clean driving records typically see the cheapest insurance rates. Even a single speeding ticket may increase your rate considerably. In addition to lower average premiums, a clean driving record may earn you more savings through safe driving discounts.