Cheapest Car Insurance Quotes In Roswell, NM For 2024

State Farm is notably the most affordable choice in Roswell, offering an average rate of $27 per month.

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Updated: 27 March 2024
Written by
Bob Phillips
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When searching for the most budget-friendly car insurance in Roswell, NM, options can vary, but one company, State Farm, stands out for its competitive rates. On average, residents can secure car insurance for about $27 per month, significantly lower than the state’s average of $108.

For those interested in the most economical liability-only coverage, State Farm is the top choice. Meanwhile, individuals seeking more comprehensive protection will find that State Farm offers the best rates for full coverage policies, priced at $104 a month. Additionally, USAA provides the most affordable rates for young drivers, coming in at $104 per month.

Cheapest Car Insurance Companies In Roswell, NM

Cheapest Car Insurance, Roswell, NM

Our Methodology

Utilizing a thorough examination that considers various factors including customer service ratings, product options, pricing, and a meticulous assessment of multiple online review platforms and user feedback, I've developed a comprehensive understanding of the car insurance market in Roswell, NM. This perspective is informed by over 15 years of direct involvement in the industry as a licensed insurance agent, involving numerous interactions with representatives from different companies, and insights gathered from firsthand experiences.

65

Quotes Analyzed

15+

Years Of Industry Experience

22

Brands Reviewed

35+

Research Hours

How Much Is Car Insurance In Roswell, NM?

State Farm provides the most affordable car insurance in Roswell, NM, with coverage available for $98 a month. As depicted in the table below, its rates are notably lower than the average rate in both the State of New Mexico and the United States overall:

Area Average Monthly Rate
National $152
New Mexico $108
Roswell, NM $98

Keep in mind that the average national cost encompasses both high-cost states like New York, New Jersey, and California, as well as low-cost states such as Mississippi, Kentucky, and Wyoming. Rates will differ based on location due to various factors, including vehicle type, coverage amount, zip code, driving record, and more.

Cheapest Car Insurance Rates In Roswell For Minimum Coverage

State Farm stands out as the most affordable car insurance provider for minimum coverage in Roswell, with an average monthly cost of $27.

Provider Average Monthly Cost Average Annual Cost
State Farm $27 $322
Progressive $42 $500
Farm Bureau $43 $514
GEICO $48 $574
Progressive $49 $581

A minimum car insurance policy should include, at the very least, the following:

  • $25,000 for bodily injury per person
  • $50,000 for bodily injury per accident
  • $10,000 for property damage per accident

Maintaining minimum car insurance offers some level of protection while driving, covering liability for injuries and property damage to others. However, it lacks collision or comprehensive insurance, leaving your vehicle uninsured for damages in accidents, theft, or natural disasters.

In New Mexico, driving without insurance is against the law. Failing to provide proof of insurance during a traffic stop can lead to penalties ranging from fines to license suspension or more severe consequences.

Cheapest Car Insurance Rates In Roswell For Full Coverage

State Farm offers the most affordable car insurance rates for full coverage in Roswell, with quotes averaging $104 per month.

Provider Average Monthly Cost Average Annual Cost
State Farm $104 $1,246
GEICO $170 $2,038
Progressive $127 $1,522
Allstate $198 $2,374
Farmers $230 $2,758

Full coverage car insurance provides comprehensive protection that extends beyond the basic coverage required by law. It typically combines comprehensive and collision coverages.

Comprehensive coverage safeguards against non-collision incidents such as theft, vandalism, or natural disasters, while collision coverage ensures financial protection for vehicle damage resulting from accidents, regardless of fault.

Cheapest Car Insurance Rates In Roswell For Seniors

Progressive offers the most affordable car insurance rates for seniors in Roswell, with quotes averaging $65 per month.

Provider Average Monthly Cost Average Annual Cost
Progressive $65 $778
GEICO $92 $1,095
State Farm $93 $1,107
Kemper $101 $1,213
Allstate $104 $1,249

In New Mexico, numerous seniors may discover advantageous car insurance rates influenced by various beneficial factors. While age commonly plays a role in insurance rate determinations, with older age sometimes associated with decreased driving ability, this stereotype doesn’t apply universally.

Cheapest Car Insurance Rates In Roswell For Teenagers

Teenage drivers in Roswell can access the most budget-friendly quotes from USAA, with average monthly premiums of $208.

Provider Average Monthly Cost Average Annual Cost
Central Mutual $290 $3,478
Farm Bureau Mutual $324 $3,886
Allstate $410 $4,918
USAA $208 $2,494
State Farm $257 $3,082

Teenage drivers typically encounter the highest car insurance premiums, primarily due to their inexperience behind the wheel. Insurance providers categorize these young motorists as high-risk because they statistically have a higher likelihood of being involved in accidents and committing traffic infractions.

Cheapest Car Insurance Rates In Roswell For Young Adults

USAA provides the most affordable quotes for young adults in Roswell, with rates averaging around $104 per month.

Provider Average Monthly Cost Average Annual Cost
State Farm $118 $1,414
Farm Bureau Mutual $162 $1,942
Central Mutual $174 $2,086
Metropolitan $177 $2,122
USAA $104 $1,246

In New Mexico, young adult drivers typically enjoy lower car insurance rates compared to their teenage counterparts. This difference in pricing is attributed to the maturation of driving habits and a corresponding decrease in risk-taking behaviors as drivers age.

Statistically, young adults are less likely to file claims with insurance companies, reflecting a reduction in accident involvement. As a result, insurers adjust premiums downward, acknowledging the improved safety records and decreased likelihood of claims from these more experienced drivers.

Cheapest Car Insurance Rates In Roswell For Good Drivers

Drivers with good records in Roswell can secure the most affordable car insurance quotes from State Farm, with rates averaging around $27 per month.

Provider Average Monthly Cost Average Annual Cost
State Farm $27 $322
Progressive $42 $500
Farm Bureau $43 $514
GEICO $48 $574
Progressive $49 $581

Drivers with clean driving records in Roswell generally receive lower car insurance rates because they are perceived as lower risk. Insurance companies assess driving records as a means to gauge how safely a person drives. Fewer incidents, such as accidents or traffic violations, indicate that the driver is cautious and less likely to file a claim.

Insurers determine rates based on the likelihood of a driver making a claim. Therefore, a spotless driving record can result in significant savings on premiums. It’s essentially about risk assessment: the cleaner the record, the lower the perceived risk, and consequently, the lower the insurance cost.

Cheapest Car Insurance Rates In Roswell For Drivers With Prior Incidents

In Roswell, drivers with records of traffic violations, including accidents, speeding tickets, or DUIs, often encounter challenges in obtaining affordable car insurance. These driving infractions lead insurance companies to classify them as high-risk, indicating a higher likelihood of filing future insurance claims.

As a result, insurance providers increase their rates for these individuals to offset the risk of potential higher claim payouts.

Cheapest Car Insurance Rates In Roswell For Drivers With A Speeding Ticket

State Farm stands out for its affordability compared to other insurance companies, offering average rates of $114 per month.

Provider Average Monthly Cost Average Annual Cost
State Farm $114 $1,366
Farm Bureau $241 $2,890
Geico $212 $2,542
Allstate $220 $2,638
Progressive $184 $2,204

Cheapest Car Insurance Rates In Roswell For Drivers With An At-Fault Accident

State Farm provides the most economical car insurance quotes for drivers with an at-fault incident, with an average rate of $122 per month.

Provider Average Monthly Cost Average Annual Cost
State Farm $122 $1,462
Farm Bureau $292 $3,502
Geico $303 $3,634
Progressive $185 $2,218
Allstate $302 $3,622

Cheapest Car Insurance Rates In Roswell For Drivers After A DUI

Progressive offers the most affordable rates for drivers with a DUI in Roswell, with average monthly premiums of $152.

Provider Average Monthly Cost Average Annual Cost
Progressive $152 $1,822
State Farm $269 $3,286
Farmers $319 $3,623
Geico $337 $4,042
Farm Bureau $380 $4,558

Best Car Insurance Companies In Roswell

When selecting a car insurance company in Roswell, NM, finding affordable rates while securing reliable protection on the road is essential. Below are the top 10 car insurance companies in Roswell, NM, ranked by the average monthly rate they offer:

Company Monthly Premium
Metropolitan $116
Central Mutual $134
Allstate $167
Farmers $190
Kemper Auto $74
State Farm $89
Farm Bureau Mutual $120
Allied $144
Safeco $172
USAA $82

Average Car Insurance Rates By Age In Roswell

Age Average Yearly Rate
Teenagers $2,626
20s $1,690
30s $1,200
40s $984
50s $984
60s $1,078
70s $1,174

Age plays a significant role in determining car insurance rates. Typically, younger drivers, especially teenagers and young adults, face higher insurance premiums due to their inexperience and statistically higher likelihood of accidents and traffic violations. However, as drivers reach the age of 25, their rates generally begin to decrease, assuming they maintain a clean driving record.

The most favorable insurance rates are often offered to drivers in their 50s and early 60s. Insurance companies utilize age as a metric to assess driving experience and risk potential, adjusting the cost of premiums accordingly.

Average Car Insurance Rates By Vehicle Type In Roswell

Vehicle Average Monthly Rate
Honda Accord $56
Jeep Renegade $153
Ford Escape $200
Hyundai Sonata $96
Nissan Versa $106

The type of vehicle you drive significantly impacts your car insurance costs. Insurance companies take into account factors such as the make, model, year, and body type of the car. Typically, newer vehicles, especially luxury models with advanced technology and higher replacement costs, tend to have higher insurance rates.

Conversely, older cars or those less expensive to repair or replace may attract lower premiums. Insurers consider these aspects because they directly impact the potential cost of claims – for example, repairs for a high-end car are generally more costly than for a standard vehicle. Additionally, certain car models known for safety may qualify for lower insurance rates due to a reduced risk of accidents and injuries.

How Much Is Car Insurance For Other Cities In New Mexico?

City Average Monthly Rate
Hobbs $105
Albuquerque $125
Gallup $94
Ruidoso $91
Alamogordo $84
Albuquerque $125
Artesia $102
Carlsbad $106
Los Alamos $98
Rio Rancho $123

The city where you live greatly influences your car insurance rates. Insurance companies evaluate various factors related to your location, such as the likelihood of accidents, vehicle theft, and vandalism rates, which are typically higher in urban areas. This heightened risk often results in higher premiums.

FAQs

Who has the lowest car insurance rates in Roswell?

State Farm offers the lowest car insurance rates in Roswell for both the minimum coverage required by the State of New Mexico and for full coverage, which includes comprehensive and collision coverage.

What is the average cost of car insurance in Roswell?

The average cost of car insurance in Roswell is approximately $98 per month. However, rates can vary based on factors such as your zip code, the year and model of your car, your driving record, and other relevant details.

Sources

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