6 years experience in personal finance writing
Featured on Credit Karma and Insider
Jamie is a meticulous researcher who has published 2,000+ personal finance articles. Her expertise is trusted by major brands like Bankrate and Rocket Mortgage.
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15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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Updated November 21, 2024
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Table of contents
The average monthly cost of car insurance in Hobb is $124 per month, which is slightly above the state average of $119. Rates in New Mexico may be higher because 21% of New Mexico drivers are uninsured, raising the state’s total insurance costs.[1]
Fortunately, the average auto insurance rate in Hobbs still falls below the national average of $154. Here’s what you should know about the things affecting your auto insurance rates in Hobbs, as well as strategies you can use to reduce your insurance costs as much as possible.
Full-coverage car insurance costs an average of $182 per month in Hobbs, while liability-only coverage costs $66 per month.
State Farm, USAA, and GEICO are the cheapest car insurance companies in Hobbs.
Hobbs drivers pay an average annual rate of $2,185 for a full-coverage policy.
3 of the cheapest car insurance companies in Hobbs
Several factors determine your auto insurance premium, including your driving history, demographics, ZIP code, and coverage limits. The best way to find cheap car insurance is to shop around and compare premiums from different insurers.
The following table outlines the three cheapest car insurance companies in Hobbs, as well as their statewide average rates for full-coverage and liability-only policies.
Insurance Company ▲▼ | IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. ▲▼ | Full Coverage ▲▼ | Liability Only ▲▼ | Best For ▲▼ |
---|---|---|---|---|
State Farm | 9.3 | $63 | $32 | Teen drivers |
USAA | 9.4 | $76 | $38 | Military members |
GEICO | 9.0 | $78 | $39 | Discounts |
Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.
- Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
- Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
- Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
- Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
- Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.
Best insurer for teen drivers: State Farm
User Reviews | 4.2 |
---|---|
IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 9.3 /10 |
Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $33/mo |
Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $66/mo |
Drivers appreciate the helpful local agents and initial service but dislike the high prices and frequent rate increases.
Drivers appreciate the helpful local agents and initial service but dislike the high prices and frequent rate increases.
Charles
November 19, 2024
New Car Price
Ronald
November 19, 2024
State Farm Experience: 35 Years+
David
November 19, 2024
Too expensive
The median age in Hobbs is 31, and 30% of Hobbs’ population is younger than 17.[2] Most young drivers can benefit by signing up for State Farm’s Steer Clear program, which encourages drivers younger than 25 to practice safe driving habits. Completing the Steer Clear program could result in savings of up to 20%.
Top J.D. Power customer satisfaction rating in the Southwest region
Best option for young adults
Doesn’t offer gap insurance
Must purchase your policy through an insurance agent
Best insurer for military members: USAA
User Reviews | 4.9 |
---|---|
IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 9.4 /10 |
Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $41/mo |
Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $79/mo |
Drivers appreciate the ease of working with the carrier, competitive rates, and responsive service but dislike the price increases and lack of rideshare add-ons in some areas.
Drivers appreciate the ease of working with the carrier, competitive rates, and responsive service but dislike the price increases and lack of rideshare add-ons in some areas.
Gloria
November 15, 2024
Not Good for Claims
Martin
November 11, 2024
Price Shopping
Rena Sabine
November 8, 2024
Disappointing and inflexible service
If you’re a veteran or active-duty service member living in Hobbs, it may be a good idea to consider car insurance from USAA. If you garage your car on base, you could save up to 15%. You can also save with USAA by bundling your auto and home insurance, insuring multiple vehicles, and setting up automatic payments.
Offers 24/7 online claims assistance
Provides banking, investing, and other types of insurance products
Only available for veterans, active-duty service members, and their families
Can’t sign up through local insurance agents
Best insurer for discounts: GEICO
User Reviews | 4.0 |
---|---|
IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 9.0 /10 |
Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $42/mo |
Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $81/mo |
Drivers appreciate the excellent customer service and initial low prices but dislike the frequent price increases.
Drivers appreciate the excellent customer service and initial low prices but dislike the frequent price increases.
George
November 19, 2024
Service
James
November 19, 2024
Unsatisfactory Experience with Geico
Edward
November 18, 2024
Experience with Geico
The average household income in Hobbs is $73,548, and the city has a low cost of living.[2] If you’re looking for additional ways to cut insurance costs, GEICO is a good choice, thanks to its many discounts. GEICO offers discounts based on customer loyalty, having safety features in your vehicle, and your driving history and habits. You could also earn a discount for belonging to certain groups, like the military or the federal government.
Robust online and mobile tools
Wide selection of discounts and coverages
No rideshare insurance
No gap insurance
How to get the cheapest car insurance in Hobbs
Here are some steps you can take to find the cheapest rates on car insurance in Hobbs:
Raise your deductible. Your deductible is the out-of-pocket expense you’ll pay when you file an insurance claim. Raising your deductible could help lower your monthly insurance premiums.
Bundle your insurance. Most insurance companies will give you a discount for buying multiple policies from them. For example, you could save by bundling your auto and life insurance or by purchasing insurance policies for multiple vehicles.
Take advantage of low-mileage discounts. If you spend very little time on the road, you could save by taking advantage of low-mileage discounts.
Lower your coverage. If you have an older vehicle that’s paid off, you could save by eliminating any unnecessary insurance coverage. For example, choosing liability-only coverage will lower your monthly premiums.
Shop around. Apply for car insurance quotes from at least three different insurance companies. Shopping around will help you find the lowest rates and best coverage for your situation.
Cheapest liability-only car insurance in Hobbs: State Farm
Liability-only insurance meets the minimum amount of coverage required to drive in New Mexico. If you’re at fault in an accident, liability coverage will pay for damages to the other party’s vehicle and cover their medical costs. However, you’ll be responsible for paying for your own car repairs and medical costs.
The average rate for liability-only insurance in Hobbs is $66 per month, and here you can see how quotes compare from leading insurers.
Insurance Company ▲▼ | Average Monthly Quote ▲▼ |
---|---|
State Farm | $33 |
USAA | $41 |
GEICO | $42 |
National General | $56 |
The General | $60 |
Allstate | $66 |
Root | $67 |
Progressive | $71 |
Farmers | $79 |
Nationwide | $80 |
Dairyland | $81 |
Bristol West | $84 |
Safeco | $84 |
GAINSCO | $93 |
Foremost | $107 |
Liberty Mutual | $144 |
Cheapest full-coverage car insurance in Hobbs: State Farm
Full-coverage auto insurance includes liability, comprehensive, and collision insurance. Unlike liability insurance, full coverage pays for your vehicle repairs.
The average rate for full-coverage car insurance in Hobbs is $182 per month, and you can see how quotes from top insurers compare here.
Insurance Company ▲▼ | Average Monthly Quote ▲▼ |
---|---|
State Farm | $66 |
USAA | $79 |
GEICO | $81 |
Root | $113 |
Allstate | $130 |
Progressive | $140 |
National General | $151 |
Farmers | $155 |
Nationwide | $157 |
Safeco | $158 |
The General | $158 |
Dairyland | $201 |
GAINSCO | $241 |
Bristol West | $251 |
Liberty Mutual | $251 |
Foremost | $321 |
Cheapest recent rates near Hobbs, New Mexico
Recent Hobbs, New Mexico car insurance prices for Hyundai, Toyota, Dodge , and more.
*Quotes generated for Insurify users in and around Hobbs, New Mexico within the last 10 days. Last updated on November 21, 2024
*Quotes generated for Insurify users in and around Hobbs, New Mexico within the last 10 days. Last updated on November 21, 2024
Car insurance requirements in New Mexico
Like most states, New Mexico requires drivers to meet minimum insurance requirements. If you don’t meet the following requirements, you risk having your vehicle registration suspended.
The minimum requirements in New Mexico are as follows:[3]
Coverage ▲▼ | Minimum Requirements ▲▼ |
---|---|
Bodily injury liability (one person) | $25,000 per person / $50,000 per accident |
Property damage liability | $10,000 |
If liability coverage alone isn’t robust enough for you, you can enhance your insurance with any of the following coverages:
Comprehensive coverage
Comprehensive coverage protects your vehicle from things like theft, vandalism, falling objects, or other hazards unrelated to an auto accident.
Collision coverage
Collision insurance reimburses you for damages caused by an accident with another vehicle or object.
Medical payments coverage
Medical payments coverage reimburses you for medical expenses resulting from an accident.
Uninsured/underinsured motorist coverage
Uninsured/underinsured motorist coverage protects you if your vehicle is hit by an underinsured or uninsured motorist.
Cheapest car insurance for drivers with an incident
If you’re caught speeding or driving under the influence, or if you cause an at-fault accident, you can expect your insurance rates to go up. This is because such incidents cause your insurance company to see you as a higher risk.
Your insurer will increase your premiums to compensate for this risk. These increased rates can stay on your premium for up to three years following the claim.[4]
The average rate for liability-only insurance in Hobbs with a clean driving record is $66 per month. The average rates for coverage with a speeding ticket, DUI, and at-fault accident are $97, $114, and $101, respectively.
The following table outlines what drivers with a clean record can expect to pay for insurance in Hobbs compared to drivers with a history of speeding tickets, at-fault accidents, or DUIs.
Insurance Company ▲▼ | Clean Driving Record ▲▼ | With Speeding Ticket ▲▼ | With At-Fault Accident ▲▼ | With DUI ▲▼ |
---|---|---|---|---|
State Farm | $33 | $44 | $46 | $56 |
USAA | $41 | $55 | $57 | $69 |
GEICO | $42 | $56 | $59 | $71 |
National General | $56 | $75 | $78 | $94 |
The General | $60 | $81 | $85 | $101 |
Allstate | $66 | $88 | $92 | $111 |
Root | $67 | $96 | $100 | $101 |
Progressive | $71 | $94 | $100 | $120 |
Farmers | $79 | $105 | $110 | $133 |
Nationwide | $80 | $108 | $113 | $135 |
Dairyland | $81 | $108 | $112 | $137 |
Bristol West | $84 | $113 | $117 | $142 |
Safeco | $84 | $113 | $117 | $132 |
GAINSCO | $93 | $133 | $125 | $157 |
Foremost | $107 | $153 | $159 | $181 |
Liberty Mutual | $144 | $206 | $214 | $243 |
Average cost of car insurance by age
Your age is one of the biggest factors influencing how much you pay for auto insurance. Car insurance rates begin to decrease around age 35 but increase again starting at age 70. Teen drivers pay the highest rates for car insurance due to their lack of experience behind the wheel. The following table outlines average car insurance quotes based on your age.
Age ▲▼ | Average Monthly Quote ▲▼ |
---|---|
Teens | $370 |
20s | $252 |
30s | $174 |
40s | $162 |
50s | $136 |
60s | $126 |
70s | $148 |
Hobbs car insurance quotes by credit tier
New Mexico allows insurance companies to consider your credit history during the underwriting process. They do so because research has shown that drivers with good credit file fewer insurance claims. So drivers with excellent or good credit typically pay less for auto insurance than drivers with poor credit, everything else being equal.
Here’s what you can expect to pay for car insurance in Hobbs based on your credit tier.
Rates by Credit Tier
Hobbs car insurance FAQs
Looking for more information to help you find the most affordable car insurance in Hobbs? Consult the answers to common questions below.
How much is car insurance in Hobbs?
The average rate for car insurance in Hobbs is $124 per month. More specifically, the average rate for liability-only coverage is $66, and the average rate for full coverage is $182.
Who has the cheapest car insurance in Hobbs?
State Farm offers the cheapest car insurance in Hobbs, at a rate of $33 per month. USAA and GEICO also offer affordable car insurance in the area, with rates of $41 and $42 per month, respectively.
What are the best car insurance companies in Hobbs?
State Farm, GEICO, and USAA are ranked as three of the top insurers in Hobbs. All offer competitive rates, and State Farm offers several benefits for teen drivers, who traditionally pay some of the highest rates. GEICO offers numerous discounts, and USAA remains a fixture for military members and their families.
Methodology
Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.
Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).
Liability-only premium averages correspond to policies with the following coverage limits:
- Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
- Property damage limits between $10,000 and $50,000
- No additional coverage
- Comprehensive coverage with a $1,000 deductible
- Collision coverage with a $1,000 deductible
Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.
Related articles
More cities in New Mexico
Sources
- Insurance Information Institute. "Facts + Statistics: Uninsured motorists."
- Choose Hobbs. "Hobbs New Mexico: Fast Facts."
- New Mexico MVD. "Insurance."
- Insurance Information Institute. "Do auto insurance premiums go up after a claim?."
Jamie Johnson is a Kansas City-based personal finance writer whose work has been featured on several of the top finance and business sites in the country, including Insider, Credit Karma, Bankrate, Rocket Mortgage, Fox Business, Quicken Loans, and The Balance. For the past six years, she's dedicated more than 10,000 hours of research and writing to more than 2,000 articles about personal finance topics.
15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
Featured in