What Car Insurance is Cheapest for Single Moms in Albuquerque?

One of the more important things that determine the amount you pay each year for auto insurance is where you live in Albuquerque. Areas with more people or even just a higher incidence of claims tend to pay slightly more, whereas areas that tend to be more rural have the benefit of cheaper auto insurance prices.

The table below ranks the highest-priced areas in New Mexico for single moms in which to purchase auto insurance. Albuquerque is listed at #1 with an annual premium of $1,389 for the average insurance policy, which is approximately $116 monthly.

How much is auto insurance in Albuquerque, NM?
Rank City Premium Per Year
1 Albuquerque $1,389
2 South Valley $1,349
3 Los Alamos $1,308
4 Los Lunas $1,302
5 Santa Fe $1,302
6 Hobbs $1,284
7 Rio Rancho $1,282
8 Artesia $1,278
9 North Valley $1,277
10 Espanola $1,260
11 Roswell $1,222
12 Carlsbad $1,213
13 Portales $1,186
14 Gallup $1,176
15 Lovington $1,159
16 Las Vegas $1,149
17 Clovis $1,145
18 Farmington $1,137
19 Deming $1,121
20 Las Cruces $1,098
21 Sunland Park $1,098
22 Silver City $1,095
23 Chaparral $1,070
24 Anthony $1,065
25 Alamogordo $1,063
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Rates are comparative as zip code location can impact coverage prices significantly.

The vehicle driven is a significant factor when comparing cheap auto insurance for single moms. Vehicles with high performance, a lack of advanced safety features, or high incidents of liability claims will cost quite a bit more to insure than more modest models. The next list features car insurance prices for a selection of the cheapest automobiles to buy insurance for.

Cheapest Vehicles to Insure in Albuquerque, NM
Make and Model Estimated Cost for Full Coverage
Jeep Wrangler Sport 4WD 2-Dr $1,405
Honda CR-V EX 2WD $1,551
Honda Accord LX-P 4-Dr Sedan $1,559
Chevrolet Impala LS $1,572
Chevrolet Malibu Hybrid $1,604
Ford Escape XLS 2WD $1,662
Toyota Corolla XLE $1,688
Ford Fusion SE 4-Dr Sedan $1,717
Ford F-150 Lariat Crew Cab Harley 2WD $1,724
Chevrolet Equinox LTZ 2WD $1,717
Nissan Rogue S 2WD $1,720
Toyota Tacoma 4WD $1,741
Ford Edge SEL 2WD $1,802
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Price information does not factor in Albuquerque, NM location which can impact auto insurance rates substantially.

Based on these rates, you can presume that vehicles like the Jeep Wrangler, Honda CR-V, Honda Accord, Chevrolet Impala, and Chevrolet Malibu should be some of the more affordable vehicles to insure for single parents.

Comparing rates for cost effective car insurance is not easy, and figuring out which companies offer the best insurance rates for single moms will take a bit more work. Each company has a different process for determining rates, so let’s rank the overall cheapest insurance companies in New Mexico.

It’s important that readers know that New Mexico insurance rates are impacted by many things which can significantly increase or decrease the cost of having a policy. This is why drivers need to take the time to shop around when trying to get the cheapest auto insurance rates for single moms. Insurance rates are influenced by many things and can decrease or increase without notice, so the most economical company when you bought your policy may now be priced much higher than other options.

Cheap Insurance Rates for Single Moms

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Cheapest auto insurance in New Mexico ranked by cost per year
Rank Company Cost Per Year
1 USAA $677
2 Allied $948
3 Safeco $984
4 Farm Bureau Mutual $1,214
5 State Farm $1,297
6 Farmers $1,302
7 Central Mutual $1,354
8 The Hartford $1,366
9 Progressive $1,505
10 California Casualty $1,575
11 Travelers $1,584
12 GEICO $1,592
13 MetLife $1,594
14 Encompass $1,643
15 Allstate $2,408
16 Liberty Mutual $2,454
17 Sentry $3,208
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USAA offers some of the best car insurance rates in Albuquerque at around $677 each year. This is $891 less than the average price paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and State Farm also are some of the cheaper Albuquerque, NM insurance companies.

As shown above, if you are currently insured with State Farm and switched to Allied, you may see an annual savings of upwards of $349. Drivers with Farmers could save as much as $354 a year, and Central Mutual insureds might reduce prices by as much as $406 a year.

It’s important to note that these rates are averages across all drivers and vehicles and and are not calculated with a specific zip code for single moms. So the auto insurance company that can offer you the best rate may not even be in the list above. That point stresses why you need to get rate quotes using your own personalized driver profile and vehicle information.

Ending up with a high-quality auto insurance provider can be difficult considering how many choices you have in Albuquerque. The company ratings listed below could help you decide which providers you want to consider when buying insurance for single moms.

These ratings are for the companies with a significant amount of written premium nationwide, so companies that have a smaller presence are not taken into consideration for this list. To compare rates from these top insurers and more, click here.

Top 10 Large Auto Insurance Companies in Albuquerque Ranked by A.M. Best Rating

  1. USAA – A++
  2. Travelers – A++
  3. GEICO – A++
  4. State Farm – A++
  5. The Hartford – A+
  6. Esurance – A+
  7. Nationwide – A+
  8. Allstate – A+
  9. Titan Insurance – A+
  10. Progressive – A+

Top 10 Large Auto Insurance Companies in Albuquerque Ranked by Customer Service

  1. GEICO
  2. State Farm
  3. The Hartford
  4. The General
  5. Progressive
  6. Allstate
  7. AAA Insurance
  8. American Family
  9. Nationwide
  10. Liberty Mutual

Driving violations and accidents

The ideal way to earn affordable insurance prices in Albuquerque for single parents is to pay attention while driving and avoid accidents and traffic citations. The example below shows how speeding tickets and fender-benders can impact auto insurance rates for different insured age categories. The premium estimates are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.

In the previous chart, the average cost of a car insurance policy in New Mexico per year with no accidents or violations is $1,356. Get one speeding ticket and the average cost rises to $1,530, an increase of $174 each year. Now get one accident along with the one speeding ticket and the annual cost of insurance for single moms goes up to an average of $2,009. That’s an increase of $653, or $54 per month, just for being a less-than-perfect driver!

The benefits of price comparisons

Albuquerque insurance rates are influenced by many factors that can increase the price of your policy. Turning one year older, moving to a different location, or having a fender bender can cause premium changes that can cause some rates to be more affordable than before.

Not only may your risk profile change, but insurance companies change the rates they charge in New Mexico every year or even multiple times each year in order to maintain liquidity for claims. Significantly higher losses can cause increased rates, while profitable underwriting can produce more affordable Albuquerque car insurance rates.

To help illustrate this point, the graph below demonstrates which company has the cheapest car insurance in Albuquerque, NM for a 40-year-old male driver with a clean driving record, no accidents, and a high credit rating. If we estimate rates based on his current situation, USAA may offer the most affordable car insurance rates in Albuquerque at $903 annually. This is $665 less than the average rate paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers are the rest of the top five cheapest Albuquerque, NM auto insurance companies.

In the next rate comparison, we’ll give the driver from the first example a chargeable accident, poor credit, and a few traffic violations. Since each auto insurance company has their own unique process for establishing rates, analyzing rate quotes may now show a different list of companies as shown below.

State Farm now has the lowest car insurance rate in Albuquerque, NM with Allied, USAA, Central Mutual, and Safeco also having competitive pricing. This example shows why Albuquerque drivers need to compare many different companies when trying to find the cheapest car insurance rates for single moms. Rates can be altered by many factors and change substantially, so the cheapest rate two years ago may now be costing you a lot of money.

Tips to find more affordable insurance for single moms

Here are some of the better penny-pinching ideas that can help you quote cheap coverage.

That last tip is very necessary, as was affirmed in this article. Prices charged by auto insurers in Albuquerque fluctuate constantly, so don’t be afraid to switch to a new company if you find a better deal. Sticking with a specific company is fine, but we do not recommend it if that loyalty ends up costing a small fortune. It only takes a couple minutes to compare prices and find cheaper auto insurance for single moms.