AFCPE Accredited Financial Counselor
6 years experience in the personal financial industry
Theresa is a writer and former financial advisor with experience helping clients solve money challenges. She uses her expertise to clarify complex personal finance concepts.
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3+ years producing insurance and personal finance content
Main architect of the Insurify Quality Score
Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.
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Updated October 30, 2024
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Table of contents
The overall average cost of car insurance in Rio Rancho is $144 per month, which is more than the state’s overall average of $127 per month.
The city’s more expensive average rates may be because of its proximity to Albuquerque, which has more than a half-million residents, and its claim as one of the fastest-growing communities in the Southwest.[1] [2]
Here’s what you need to know about comparing quotes and finding cheap auto insurance policies in Rio Rancho.
The average cost of car insurance in Rio Rancho is $79 per month for liability-only policies and $209 per month for full coverage.
State Farm is the cheapest full-coverage car insurance company in Rio Rancho, with a monthly rate of $70.
Car insurance companies in New Mexico can consider your credit score and history when determining your premiums.[3]
3 of the cheapest car insurance companies in Rio Rancho
Rio Rancho drivers have many car insurance companies to consider, each with different coverage options and discounts. The best car insurance companies in Rio Rancho offer affordable rates, quality customer service, and plenty of customizable coverages. It’s important to shop around to find the best deal for your specific needs.
Here’s a breakdown of some of the best and cheapest car insurance companies in Rio Rancho.
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 | $64 | $32 | Young drivers |
USAA | 9.4 | $77 | $38 | Military members and families |
GEICO | 9.0 | $79 | $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 young 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. | $34/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. | $70/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.
Jannie
October 29, 2024
Good
Marsha
October 29, 2024
Friendly agents!
Linda
October 29, 2024
I also have my homeowners insurance with them. I had a fire in my hot water heater and a year later, someone stayed in my house while I was gone for 2 months. I came home to a floating kitchen floor. After these incidents, StateFarm cancelled my policy.
State Farm offers various products such as auto, home, business, pet, and life insurance. State Farm provides a few different ways for young adults to save money on auto insurance, including good student, driver training, and student away-at-school discounts. Plus, its SteerClear program can help safe drivers younger than 25 earn more discounts on their car insurance.
Multiple discounts for young drivers
Large network of insurance agents
Can’t get a quote online
Doesn’t offer gap insurance
Best insurer for military members and families: 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. | $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. | $84/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.
Kent
October 29, 2024
Excellent
Dorothy
October 29, 2024
Significant Increase in Policy Payment
Martin
October 29, 2024
My Opinion
USAA offers military members and their family members insurance, banking, and investing products. While only former and active military members and their families are eligible, USAA customers can benefit from a variety of coverage and discounts, including a discount for garaging their car on a military base and an annual mileage discount.
Discounts for military members
AM Best financial strength rating of A++ (Superior)
Restrictive membership requirements
Gap insurance not available
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. | $43/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. | $86/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.
Herman
October 29, 2024
Excellent
Greg
October 29, 2024
It's Expensive
Robert
October 29, 2024
Unpleasant Experience on Cape Cod
GEICO insurance offerings include auto, condo insurance, home insurance, renters insurance, flood, travel, and life insurance. GEICO shines with its wide selection of discounts, including good driver, defensive driving, multiple vehicles, and anti-theft system discounts. You may also be able to reduce your rates if you work for the federal government or military.
Highly rated mobile app
Cheaper rates than some competitors
Doesn’t offer gap insurance
Below-average J.D. Power customer satisfaction rating in the Southwest
How to get the cheapest car insurance in Rio Rancho
Auto insurance prices can vary depending on different factors, such as local crime rates, driving history, age, credit score, and marital status. Insurers weigh these factors differently, which is why it’s a good idea to compare quotes from different companies.
Here are some ways to find affordable insurance in Rio Rancho:
Increase your deductible. Increasing the deductible on your auto policy may help lower your monthly payments. Make sure you can afford the deductible if you file a claim.
Reconsider your coverage. Reducing your coverage may help you get cheap insurance. For example, if you drive an older, paid-off car, you may want to consider switching to a liability-only car insurance policy.
Bundle insurance policies. Many insurance companies offer a discount when you buy one or more policies with the company, such as your auto and home insurance policies.
Compare quotes. Use a quote-comparison platform to gather multiple quotes and compare them at once. This can help you narrow down which car insurance company offers you the best rates for the coverage you want.
Cheapest liability-only car insurance in Rio Rancho: State Farm
New Mexico requires all drivers to purchase liability insurance, which helps cover the damages from a car accident you cause. It doesn’t pay for your damages or injuries.
Liability insurance in Rio Rancho costs $79 per month, on average. The table below shows other cheap liability insurers in the city.
Insurance Company ▲▼ | Average Monthly Quote ▲▼ |
---|---|
State Farm | $34 |
USAA | $42 |
GEICO | $43 |
National General | $60 |
Midvale Home & Auto | $62 |
The General | $65 |
Hallmark | $66 |
Allstate | $69 |
Progressive | $74 |
Farmers | $82 |
Dairyland | $84 |
Nationwide | $84 |
Safeco | $85 |
GAINSCO | $93 |
Bristol West | $94 |
Foremost | $114 |
Liberty Mutual | $127 |
Cheapest full-coverage car insurance in Rio Rancho: State Farm
Drivers who want broader protection can buy full-coverage car insurance, which typically includes comprehensive, collision, and liability insurance. Full coverage may be worth considering for drivers with new vehicles that would be expensive to repair or replace. But because it has more protection, it usually costs more: an average of $209 per month in Rio Rancho.
Compare some of the lowest average rates for full-coverage car insurance in Rio Rancho below.
Insurance Company ▲▼ | Average Monthly Quote ▲▼ |
---|---|
State Farm | $70 |
USAA | $84 |
GEICO | $86 |
Allstate | $137 |
Midvale Home & Auto | $138 |
Progressive | $148 |
Safeco | $156 |
Farmers | $165 |
National General | $165 |
Nationwide | $167 |
The General | $167 |
Hallmark | $173 |
Dairyland | $206 |
GAINSCO | $230 |
Liberty Mutual | $263 |
Bristol West | $276 |
Foremost | $319 |
Cheapest recent rates near Rio Rancho, New Mexico
Drivers in and around Rio Rancho, New Mexico have found policies from GAINSCO, Bristol West, Root, and more, through Insurify in the last few days.
*Quotes generated for Insurify users in and around Rio Rancho, New Mexico within the last 10 days. Last updated on October 30, 2024
*Quotes generated for Insurify users in and around Rio Rancho, New Mexico within the last 10 days. Last updated on October 30, 2024
Car insurance requirements in New Mexico
Drivers in New Mexico must purchase liability insurance. New Mexico law follows a fault-based insurance system, which means the driver who causes a car accident is financially responsible for the other parties’ losses.[4]
Here are the specific insurance coverage requirements in New Mexico:[5]
Coverage ▲▼ | Minimum Requirements ▲▼ |
---|---|
Bodily injury liability | $25,000 per person / $50,000 per accident |
Property damage liability | $10,000 per accident |
New Mexico drivers who want more protection from potential damages and injuries can consider the following additional coverages:
Comprehensive coverage
Comprehensive insurance helps cover vehicle repairs or replacement for non-collision events, such as theft, vandalism, falling objects, and severe weather.
Collision coverage
Collision insurance covers your vehicle’s damages if you hit a stationary object or another vehicle, regardless of fault.
Gap coverage
Gap insurance covers the difference between your auto loan balance and insurance settlement in the event of a total loss.
Rental reimbursement coverage
Rental reimbursement coverage pays for a rental car while your vehicle is in the shop for repairs under a covered claim.
New-car replacement coverage
If you total a brand-new vehicle, new-car replacement insurance pays to replace your vehicle with one of the same make and model.
Cheapest car insurance for drivers with an incident
If you have an incident like an at-fault accident, speeding ticket, driving under the influence (DUI) conviction, or other moving violation on your driving record, it can be challenging to find cheap car insurance. Insurance companies perceive drivers with these incidents to be a higher insurance risk than drivers with a clean record and adjust rates accordingly.
With a clean driving record, Rio Rancho drivers pay an average of $79 per month for liability insurance. But that average increases to $111 per month with a speeding ticket, $122 per month after an accident, and $138 per month after a DUI.
Compare the cost of liability-only insurance for drivers with a clean record versus drivers with a past incident below.
Insurance Company ▲▼ | Clean Driving Record ▲▼ | With Speeding Ticket ▲▼ | With At-Fault Accident ▲▼ | With DUI ▲▼ |
---|---|---|---|---|
State Farm | $34 | $44 | $47 | $58 |
USAA | $42 | $54 | $59 | $71 |
GEICO | $43 | $56 | $60 | $73 |
National General | $60 | $78 | $85 | $102 |
The General | $65 | $85 | $92 | $110 |
Allstate | $69 | $89 | $97 | $117 |
Progressive | $74 | $96 | $105 | $126 |
Farmers | $82 | $106 | $114 | $139 |
Dairyland | $84 | $109 | $117 | $142 |
Nationwide | $84 | $110 | $119 | $142 |
Safeco | $85 | $112 | $116 | $144 |
GAINSCO | $93 | $130 | $125 | $158 |
Bristol West | $94 | $122 | $131 | $159 |
Foremost | $114 | $160 | $171 | $193 |
Liberty Mutual | $127 | $178 | $190 | $215 |
Average cost of car insurance by age
In addition to ZIP code, gender, and vehicle type, age is one of the most important factors insurers look at when determining car insurance rates. Rates generally decrease around age 35 and increase around age 70 because older drivers are more vulnerable to injuries in car accidents.[6] Teen drivers pay the most expensive car insurance premiums due to their lack of driving experience and high accident rates.[7]
The table below includes the average monthly car insurance quotes for various age groups in Rio Rancho.
Age ▲▼ | Average Monthly Quote ▲▼ |
---|---|
Teens | $396 |
20s | $272 |
30s | $190 |
40s | $181 |
50s | $152 |
60s | $136 |
70s | $160 |
Rio Rancho car insurance quotes by credit tier
Insurers in Rio Rancho are allowed to consider your credit history when setting rates.[3] Insurance companies use credit histories to predict the likelihood that someone will file claims. Drivers with good credit scores may pay cheaper rates, because insurers perceive them as lower risk, while drivers with bad credit may pay higher rates due to perceived increased risk.
Here are the average monthly full-coverage car insurance quotes by credit tier for Rio Rancho drivers.
Rates by Credit Tier
Rio Rancho car insurance FAQs
Here’s what you need to know about car insurance for bad drivers, and check out the answers to common questions about auto coverage in Rio Rancho below.
How much is car insurance in Rio Rancho?
The average cost of car insurance in Rio Rancho is $79 a month for liability-only policies and $209 for full coverage.
Which companies have the cheapest car insurance in Rio Rancho?
State Farm, USAA, and GEICO are the cheapest car insurance companies in Rio Rancho, with liability rates of $34, $42, and $43 per month, respectively.
But the cheapest company for someone else may not be the cheapest for you. It’s important to compare rates from multiple companies to find the one that offers you the best deal.
What are the best car insurance companies in Rio Rancho?
Some of the best insurance companies in Rio Rancho that Insurify identified include State Farm, USAA, and GEICO. These companies have high IQ Scores, solid AM Best financial ratings, and relatively cheap rates for drivers in Rio Rancho.
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
- U.S. Census Bureau. "QuickFacts: Albuquerque city, New Mexico; Rio Rancho city, New Mexico."
- Rio Rancho. "Community Overview."
- Justia. "NM Stat § 59A-17A-4 (2021)."
- Nolo. "New Mexico Auto Insurance Laws and Requirements."
- New Mexico Motor Vehicle Division. "Insurance."
- Insurance Institute for Highway Safety. "Fatality Facts 2021: Older people."
- Insurance Institute for Highway Safety. "Fatality Facts 2021: Teenagers."
Theresa Stevens is a personal finance writer based in Boston, Massachusetts. Her work has been featured in Forbes Advisor, Bankrate, and more. As a former financial advisor, she has first-hand experience helping people solve their money challenges. When she's not writing, you'll find her trying out new karaoke spots or planning her next trip abroad.
3+ years producing insurance and personal finance content
Main architect of the Insurify Quality Score
Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.
Featured in