Updated: October 29, 2024
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Your specific needs and driving history will determine which insurance provider is the greatest fit for you. State Farm is the best option overall, for cheap policies, customer service, young drivers, seniors and those with violations. Nationwide is best for teens, and Farmers is ideal for drivers with new cars.
We also compared the most affordable auto insurance rates in Albuquerque to help consumers looking to save money.
BestCar InsuranceAlbuquerqueTable of Contents (Jump to Your Best Fit)
Why Trust MoneyGeek? Using information from the New Mexico Office of the Superintendent of Insurance and Quadrant Information Services, MoneyGeek developed a unique rating system for insurance providers operating in New Mexico based on customer satisfaction, claims experience, essential coverages, pricing and financial soundness.
The top vehicle insurance companies in Albuquerque for full coverage include:
State Farm: MoneyGeek score 75 out of 100 ($856 per year) Nationwide: MoneyGeek score 73 out of 100 ($810 per year)
State Farm scored well for affordability and satisfaction. It is also the leading auto insurance provider in New Mexico.
USAA, which scored 85 out of 100, is the best option for those in the military community.
How was this MoneyGeek score calculated?
MoneyGeek’s score for the overall best car insurance was calculated with the following weights:
High score in affordability
Excellent service score
Offers roadside assistance and rental car and travel reimbursement
Lacks essential coverages
Needs improvement in claims administration
No accident forgiveness or deductible modification
State Farm may only have a few coverage options for policyholders to choose from, but the ones it has are valuable enough to merit consideration.
The roadside assistance coverage includes towing, jumpstarts, fuel delivery and tire changes. Its rental car and travel reimbursement pays for rental vehicle costs depending on your chosen limits, $500 for trip costs (including lodging, food and transportation) and $500 for your deductible if you cause an accident while driving a rented car. These are useful for people who don’t want to pay exorbitantly out of pocket for these expenses. Those who do road trips or business travel and do not want to be without a car can also be State Farm’s market.
While State Farm is affordable and offers good service, potential policyholders should also be aware that the provider has a lower claims management score.
Among the eight insurance providers in Albuquerque that we reviewed, we recommend State Farm as the best option. The insurer ranked well for pricing and customer happiness, giving them a leg up on the competition. Nationwide's average yearly rate is cheaper, but State Farm’s consistency in customer service caused it to be our top pick.
These prices are for full coverage. We only provided MoneyGeek scores if all categories could be scored. Otherwise, we did not assign an overall score.
| State Farm | 75 | $856 | 4 | 2 | 3 | 5 |
| Nationwide | 73 | $810 | 3 | 2 | 4 | 4 |
| GEICO | 70 | $1,022 | 4 | 2 | 3 | 5 |
| Allstate | 65 | $1,078 | 3 | 2 | 4 | 4 |
| Farmers | 64 | $1,109 | 3 | 2 | 4 | 3 |
| Progressive | 61 | $1,330 | 3 | 2 | 4 | 4 |
| Iowa Farm Bureau | No Data | $1,524 | 5 | No Data | 0 | 3 |
| Kemper | 21 | $1,951 | 1 | 2 | 1 | 2 |
When ignoring cost as a factor, we found the following insurance companies in Albuquerque to have the best customer service overall for full coverage policies:
Our research indicates that State Farm is able to provide a superior blend of customer care and coverage. It is also affordable, indicating that customers can get excellent service at a reasonable price.
How was this MoneyGeek score calculated?
MoneyGeek’s score for Best for Customer Service was calculated with the following weights:
Great customer service
Offers essential coverages
Affordable
Underwhelming claims performance
Doesn’t offer original equipment manufacturer or gap insurance coverages
State Farm's outstanding reputation in responding well to its customers' needs may only be one example of the high-quality service the provider delivers. However, State Farm does not provide as many choices in policies as its rivals. Not included in its add-on selection are original equipment manufacturer (OEM) coverage and gap insurance, which are often offered by insurance companies. The OEM coverage financially protects you from the cost of replacing your car's original parts if they're damaged, while gap insurance pays any difference between what you owe on your loan and what it's worth when your car is totaled.
The availability of roadside assistance and rental car and travel reimbursement may be more than enough for people who do not need much from their insurer or want to keep their policies simple and straightforward.
Policyholders will be pleased that State Farm's rates are affordable, allowing them to get great service at a good price.
In the insurance industry, providing excellent customer support usually means helping clients get back on their feet as quickly as possible when something unfortunate happens, like an accident. State Farm outperforms other top insurers in Albuquerque. Its premiums are also one of the cheapest, proving that combining good service with low rates is not impossible.
Our analysis of pricing and service quality for plans that meet New Mexico's minimum coverage requirements shows that Albuquerque's top insurers include:
Insurance plans with the lowest rates often provide the least coverage for liability expenses and no coverage for damage to the insured vehicle. Take note that the minimum coverage amounts required by law in New Mexico are the same across the state.
How was this MoneyGeek score calculated?
MoneyGeek’s score for the Best Cheap company was calculated with the following weights:
An affordable minimum coverage policy costs $357 per year.
Offers anti-theft, airbag and anti-lock brakes discounts
Great customer service score
No paperless and pay-in-full discounts
Limited coverage options
Low score in claims handling
State Farm is a solid option for people in need of a basic insurance plan. It does not only provide exceptional service but also competitive pricing that won't break the bank.
In addition to reasonable premiums, State Farm provides attractive discounts that many policyholders can take advantage of. For those who have installed an alarm or an entire anti-theft system, a discount might be available. Passive restraint discounts are also offered and apply to medical payments. These cover automobiles manufactured before 1993 that have airbags or similar systems. It isn’t hard to get these discounts since these safety measures are considered necessary for many drivers.
Having anti-lock brakes will entitle you to a rate reduction. You might be encouraged to practice good driving habits as there are discounts available for safe driving.
When shopping for insurance, it's important to choose a policy that offers enough protection for the things you care about most without forcing you to overpay for coverage. State Farm does just that by offering affordable policies with good service.
Cheaper insurance can give the impression that it won’t provide great customer support. This is not the case because sometimes you can get excellent customer service without paying high rates.
Among Albuquerque’s best vehicle insurance companies for young adults who need full coverage are:
Reasonable rates and good customer service are State Farm’s strong points. For policyholders, this can mean receiving excellent support in the event of an accident without having to pay more.
How was this MoneyGeek score calculated?
MoneyGeek’s score for Best for Young Adults was calculated with the following weights:
Affordable option at around $1,089 per year
Great satisfaction score
Offers driver’s education, distant student and good student discounts
Lacks some coverage options
Subpar track record in claims handling
State Farm may not provide as many coverage options as some of its competitors, but its policies are generally cheaper. It also has proven that it can keep its policyholders satisfied with the service it provides. It also offers many discount opportunities.
Opportunities to lower insurance costs for young drivers abound at State Farm. For example, you may save money if you take and pass a recognized defensive driving program. Students who are also under 25 and who move away to school can get discounts on their car insurance by only using their vehicles when they are at home. They can also get a discount for maintaining a B grade point average or higher. If you have been driving for over three years without any accidents or violations, your premium may also be reduced.
Young adults tend to be more prone to accidents and may have trouble affording costly repairs. This requires an insurance policy that is reasonably priced and has robust coverage. The insurer’s customer service should also be reliable, especially in circumstances where you need to get back on the road fast.
State Farm gives importance to these factors in equal measure. While Nationwide, the runner-up, is more affordable, State Farm offers better customer satisfaction.
When it comes to vehicle insurance, the best companies for teenage drivers on a family policy with full coverage are:
Nationwide offers excellent affordability and coverage options, making it a great insurer for teens.
The insurance costs for a family may be greatly reduced by including an adolescent member in a policy as opposed to getting them their own. In Albuquerque, it is $3,056 cheaper for a teen to be on a family policy. Keep in mind drivers under 18 must have a parent or guardian’s consent to get insurance.
How was this MoneyGeek score calculated?
MoneyGeek’s score for Best for Teens was calculated with the following weights:
Affordable rates of around $2,168 per year
Good coverage score
Offers a good student discount
Lower claims score
Needs improvement in claims handling
Nationwide distinguishes itself from the competition for the best car insurer for families and young people because of its affordable prices and reputable customer service. Teenagers might also easily qualify for a variety of discounts. For example, students who maintain strong academic standing (such as a B average) may get a rate reduction. This not only helps you save money, but it also motivates students to perform well in school.
Other discounts teens (as well as other policyholders) can take advantage of include automatic payment and paperless discounts. With the automatic payment discount, customers can save money by setting up their payments to be automatically processed. The paperless discount lets policyholders save money by signing up to receive documents electronically.
Nationwide also offers some coverages that can be beneficial for teens, including accident forgiveness and roadside assistance.
A decent auto insurer for teenagers should be trustworthy and provide the protection they need in the event of an accident, like roadside assistance. Since teenagers are more likely to be involved in an accident, insurance companies see them as a greater risk and charge them more.
Nationwide is a good provider for Albuquerque families because of its affordability, coverages and discount options. While the runner-up, Allstate, offers better service, it is more expensive.
Albuquerque's best options for senior car insurance for full coverage are:
It's common for insurance companies to charge senior drivers in their 70s more rates than they do for drivers in their 30s, 40s and 50s. Seniors who are willing to browse around may get affordable vehicle insurance.
Our findings suggest that State Farm is a great option for seniors looking for low rates and great service. Affordability and service are crucial for older drivers who may unexpectedly find themselves in need of assistance on the road.
How was this MoneyGeek score calculated?
MoneyGeek’s score for Best for Seniors was calculated with the following weights:
Competitively priced, at around $781 per year
Good customer service
Offers roadside assistance as well as rental car and travel reimbursement
Only a few coverage options available
Doesn’t have a proven track record in claims payout
State Farm might be the best option for senior drivers searching for inexpensive rates and excellent service. The insurer awards senior citizens discounts to help you financially. Discounts are also available for policyholders who maintain a clean driving record and complete a defensive driving program.
This insurer doesn't offer a lot of coverage options, so it might not be suitable if you have many needs or expensive assets to protect. It does provide the basics that many seniors need, such as roadside assistance as well as a rental vehicle and trip interruption reimbursement. These come in handy if you become stranded on your way home from work or while traveling out of town.
Be aware that State Farm’s claims management score is low, indicating you may run into difficulties if you ever need to file a claim.
Having insurance that covers your specific needs becomes more crucial as you age. Personal injury protection (PIP) and medical costs coverage are just two examples of coverages you should look for in a policy.
Savings may also be a major factor in maintaining a comfortable standard of living, so insurers like State Farm that offer discounts could be ideal. State Farm ranked well for service and affordability, but Nationwide does offer more coverage options.
In Albuquerque, the best car insurance companies for drivers with citations who want full coverage are:
State Farm's low prices and helpful representatives make it a great choice, even for those with spotty driving histories. You need an insurer like this if you want to be provided the best rate possible and address any issues you may have despite your circumstances.
Insurance rates might significantly increase if they are convicted of a more serious traffic infraction. Those with a DUI may pay as much as $559 more a year for full coverage than those without one. Drivers with a speeding ticket can expect to pay just $227 more than those with a clean record.
How was this MoneyGeek score calculated?
MoneyGeek’s score for Best for Drivers With Offenses was calculated with the following weights:
Cheapest option, at around $949 per year
Excellent customer service
Offers roadside assistance and rental car and trip reimbursement
Doesn’t offer accident forgiveness and new/better car replacement
Low claims management score
If you have an infraction on your driving history due to an accident, DUI or ticket, State Farm has affordable car insurance plans that can help you keep you manage your finances. State Farm’s score in customer service also suggests that its representatives will also likely go above and beyond in their efforts to work with you no matter your circumstances.
One of the coverages that the insurer offers includes roadside assistance. This includes towing and jumpstart services, as well as fuel delivery during emergencies. Rental car and trip reimbursement are for situations when you are in a covered accident and need a replacement vehicle to get you to your destination.
State Farm doesn’t have many coverages that are specific to drivers with offenses, such as accident forgiveness.
A reliable insurance provider will be willing to work with you if you have a poor driving record. It might help you save money while developing safer driving practices, primarily by providing you with discounts like driver’s education and safe driving.
We found that State Farm could offer you many opportunities to save, making it a good choice in this category. The runner-up, Progressive, does offer more coverage options.
The top Albuquerque companies for anyone who has a new car and wants full coverage include:
For New Mexico drivers who own a 2022 model-year automobile, we rated car insurance companies based on price and quality of service, limiting our search to those that can provide better or new car replacement coverage. This helps you replace your totaled car with something similar in value and specifications because of a covered loss.
Farmers’ affordability and coverage options make it an attractive option for those with new cars.
How was this MoneyGeek score calculated?
MoneyGeek’s score for Best for New Cars was calculated based on insurers offering new or better car replacement coverage and the following weights:
Most affordable option, at around $1,398 per year
Above-average score in coverage
Offers new car replacement coverage
Satisfactory rating in customer satisfaction
Doesn’t offer gap insurance or better car replacement coverage
Farmers' rates and coverage choices, including its new-car replacement coverage, made it stand out from the other two carriers considered in this city. This insurance coverage will replace your brand-new vehicle with a similar one if it is totaled anytime during the first two years.
Farmers policyholders have the option to add OEM coverage, which pays for manufacturer-supplied components on vehicles up to 10 years old. The insurer also offers custom parts coverage and glass deductible modification, which can be beneficial for new car owners.
Gap insurance is not available from Farmers. This coverage helps you pay your outstanding auto loan or lease payment if your vehicle is completely destroyed. Along with a lower score in customer service, this missing coverage option could be a deterrent for potential customers.
For drivers who have just gotten new cars, finding an insurance company with new car replacement coverage is essential. The best insurers provide coverage for your car in the event of an accident or theft and will replace it with one that's very close or similar in value to the original vehicle.
Farmers’ premiums are the cheapest in the city, and it doesn’t skimp on coverage options, making it our top recommendation for those with newly-purchased vehicles.
Cost, customer satisfaction, claims handling and financial stability are just a few of the aspects to think about while comparing vehicle insurance companies in Albuquerque. Although our rankings might be helpful, we also encourage you to do your own research using this guide.
MoneyGeek's grading methodology used J.D. Power and National Association of Insurance Commissioners (NAIC) complaint ratio statistics to evaluate providers for customer satisfaction. While we did the research for you, these references may be used to double-check our results. You may also get reliable information on insurance and insurance companies through New Mexico’s Office of Superintendent of Insurance.
To get a sense of how much vehicle insurance would cost, we advise getting estimates from at least three different companies. MoneyGeek's typical premiums are for a sample driver. Your actual prices will likely be different based on factors like your age, location and driving record.
It is possible for insurers to advertise coverages and discounts on their websites without really providing them everywhere. You can double-check the options in your area by calling the insurer or looking them up on their local website.
We also suggest looking at providers' financial stability ratings to help you choose the best insurance provider. A company's ability to fulfill a promise regardless of market circumstances is reflected in its financial health. In general, larger insurance firms are better equipped to pay out claims than their smaller, regional counterparts.
The best Albuquerque car insurance provider for you will depend on your individual needs and driving habits. We answered some of the most commonly asked questions to help you find the best coverage for your needs.
When it comes to the best overall auto insurance in Albuquerque, State Farm comes out on top with a MoneyGeek score of 75 out of 100. Its average annual rates are reasonably low at $856 for full coverage.
State Farm is also the best option for customer service, cheap policies, young drivers, seniors and those with violations.
State Farm offers the most affordable auto insurance in Albuquerque at about $357 annually for a basic policy with no additional coverage. It was rated 78 out of 100 by MoneyGeek for its affordability as well as its quality of service.
This insurer is also the best option overall, for customer service, young drivers, seniors and those with violations.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
