State Farm offers the cheapest non-owner car insurance in New Mexico at just $27 monthly, below the state average of $43. Use the table below to compare other affordable options.
Cheapest Non-Owner Car Insurance in New Mexico
Updated: January 31, 2025
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Best Cheap Non-Owner Car Insurance in New Mexico: Key Takeaways
State Farm offers the cheapest non-owner car insurance in New Mexico at $27 monthly.
Non-owner insurance covers you when driving a vehicle that isn't yours, as long as you meet the state's minimum coverage requirements.
Consider non-owner insurance if you frequently borrow or rent cars or need to reinstate your license without a traditional policy.
Cheapest Non-Owner Car Insurance in New Mexico
| State Farm | $329 | $27 |
| GEICO | $419 | $35 |
| Farmers | $593 | $49 |
| Progressive | $598 | $50 |
| Nationwide | $653 | $54 |
| Kemper | $673 | $56 |
How Much Is Non-Owner Car Insurance in New Mexico?
New Mexico's average monthly non-owner car insurance cost is $43, matching the national average. Your premium will depend on your driving history and other personal factors.
Non-Owner Car Insurance Cost Comparison: National vs. State
National Average Cost
Monthly Premium
$43
New Mexico Average Cost
Monthly Premium
$43On average, non-owner car insurance in New Mexico is: the same
This is 0% more expensive.
New Mexico Non-Owner Car Insurance: Buyer's Guide
Our guide helps drivers determine if non-owner insurance is the right choice. It covers the basics, compares it to standard policies, outlines typical costs and highlights who benefits most.
What Is Non-Owner Car Insurance?
If you often drive but don't own a car, non-owner insurance is a great option, especially for renting or borrowing vehicles. It covers damage to others' cars or injuries in an at-fault accident. Below, see how non-owner policies compare to regular car insurance.
Policy Coverage | Standard Policy | Non-Owner |
|---|---|---|
✔️ | ✔️ | |
Medical payments | ✔️ | ✔️ |
Personal injury protection | ✔️ | ✔️ |
Uninsured/underinsured motorist | ✔️ | ✔️ |
✔️ | ✔️ | |
Collision | ✔️ | |
Comprehensive | ✔️ |
Does New Mexico Allow Non-Owner Car Insurance?
New Mexico permits non-owner insurance for drivers who don't own a vehicle but still want coverage.
NEW MEXICO MINIMUM INSURANCE REQUIREMENTS
New Mexico's minimum coverage requirements apply to non-owner car insurance. The limits are:
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $10,000 in property damage liability per accident
Minimum coverage might not fully protect you. Consider how much coverage you need before buying an insurance policy to ensure you're covered well.
Should You Get Non-Owner Car Insurance in New Mexico?
Non-owner insurance is a smart choice for drivers who don’t own a car, especially those borrowing a friend’s vehicle or renting often. It provides minimum coverage that stays with you, not the car. If you drive occasionally, this affordable option offers coverage without the cost of a full policy.
AVOID ONE-DAY CAR INSURANCE
Be cautious of "one-day insurance" offers in New Mexico, as they may signal fraud. Opting for insurance through a car rental company is safer for temporary coverage, especially for short-term needs like moving or road trips.
Who Should Consider Non-Owner Car Insurance?
The following types of drivers should consider a non-owner car insurance policy:
Car borrowers
Non-owner insurance covers liabilities for accidents caused while driving someone else's vehicle, especially if the owner's policy doesn't cover them.
Occasional renters
Non-owner insurance is an affordable alternative to rental agency policies, providing coverage without the high rental counter costs.
Drivers between cars
Drivers between cars maintain continuous coverage with non-owner insurance, preventing future premium increases due to a coverage lapse.
License reinstatement-seekers
Non-owner insurance is often required to show financial responsibility when reinstating a license after a suspension, even without owning a vehicle.
Cheap Non-Owner Car Insurance in New Mexico: Bottom Line
New Mexico drivers can get non-owner car insurance. State Farm offers the most affordable option, followed by GEICO and Farmers. To find the best deal, compare quotes from multiple providers.
Non-Owner Car Insurance in New Mexico: FAQ
Find answers to common questions about non-owner car insurance in New Mexico below.
Which company offers the cheapest non-owner car insurance in New Mexico?
State Farm offers the cheapest non-owner car insurance in New Mexico at $27 monthly.
How much does non-owners car insurance cost in New Mexico?
New Mexico's non-owner car insurance costs about $516 annually or $43 monthly.
New Mexico Non-Owner Car Insurance Ratings: Our Review Methodology
MoneyGeek compiled New Mexico auto insurance rates by collecting data from the New Mexico Office of Superintendent of Insurance and Quadrant Information Services. We examined 240 car insurance quotes from five providers to identify the state's best and most affordable options.
Coverage Levels
We compared non-owner car insurance rates from companies in New Mexico using minimum coverage policies. The state-required minimum coverage includes:
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $10,000 in property damage liability per accident
Drivers and Cars in New Mexico
To find the best and most affordable companies for non-owner car insurance in New Mexico, we used a sample driver profile with the following characteristics:
- 40-year-old male
- 2012 Toyota Camry LE
- Clean driving record
- Good credit history
- 12,000 miles driven annually
Learn more about MoneyGeek's car insurance methodology.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.