Non-owner car insurance is perfect for those who drive occasionally but don’t own a car. It provides liability coverage, ensuring that any damages or injuries you cause to others while driving someone else’s car are covered. With this insurance, you can drive knowing you’re financially protected.
Non-owner car insurance is usually more affordable than regular car insurance, as it doesn’t cover your own vehicle. The premium varies based on your driving record, age and location.
- Non-owner car insurance costs an average of $24 a month in New Mexico for the coverage limit of 25/50/10.
- The non-owner car insurance rate is $293 per year—lower than liability-only coverage of $658 for New Mexico drivers.
- Central Insurance offers the cheapest non-owner car insurance rates in New Mexico at an average cost of $10 per month.
Do I need non-owner car insurance in New Mexico?
Non-owner car insurance in New Mexico is important for renting or borrowing cars. It helps cover costs if you’re at fault in an accident while driving a car you don’t own, so you’re not stuck paying for damages out of pocket. Also, it can work alongside the car owner’s insurance to offer additional coverage.
Non-owner car insurance is ideal for those who occasionally rent or borrow cars for personal or business purposes. Rather than opting for the expensive insurance offered by rental companies, you can get non-owner car insurance that offers similar coverage at a more affordable price.
Additionally, keeping continuous insurance coverage, such as non-owner insurance when you’re between vehicles, can help keep your insurance premiums lower in the future. It offers coverage if you’re involved in an accident and deemed at fault. However, it does not cover the vehicle you are driving.
Average non-owner car insurance cost in New Mexico
New Mexico drivers can expect to pay an average of $24 per month or $293 annually for non-owner car insurance with a coverage limit of 25/50/10.
Your rates may differ based on your driving record, age, location and the insurance company you choose.
Cheapest non-owner car insurance companies in New Mexico
CarInsurance.com’s analysis shows that Central Insurance offers the most affordable non-owner car insurance rates in New Mexico, at $10 per month. Other insurers like State Farm and Iowa Farm Bureau also offer affordable premiums.
Non-owner auto insurance rates may vary based on your driving record, ZIP code, and coverage needs. It’s a good idea to compare quotes from multiple insurers to find the best rate for your specific situation.
See the cheapest companies for non-owner car insurance in New Mexico in the table below.
| Company | Annual full coverage rates | Monthly full coverage rates |
|---|---|---|
| Central Insurance | $119 | $10 |
| State Farm | $149 | $12 |
| Iowa Farm Bureau | $175 | $15 |
| Kemper | $266 | $22 |
| Farmers | $397 | $33 |
| Progressive | $410 | $34 |
| Geico | $448 | $37 |
| Nationwide | $486 | $41 |
| USAA* | $188 | $16 |
Note: *USAA is only available to military community members and their families.
Non-owner car insurance in New Mexico, by age and gender
In New Mexico, non-owner car insurance rates differ based on age and gender. For example, if you add a male teen driver to your car insurance, you’ll pay an average of $1,266 a month for insurance, whereas adding a 16-year-old female would cost you around $1,203 monthly.
Young drivers, regardless of gender, generally face higher insurance premiums. Their lack of experience makes them more prone to accidents, raising the risk for insurers. As drivers get older and gain more driving experience, their insurance rates typically decrease in New Mexico.
The table below shows the cost of non-owner car insurance based on age and gender.
| Driver age | Male | Female |
|---|---|---|
| Teens (16-19) | $882 | $843 |
| Young Adults (20-24) | $444 | $436 |
| Adults (25-60) | $291 | $296 |
| Seniors (65-75) | $323 | $315 |
Compare non-owner car insurance rates in neighboring states
Non-owner auto insurance in the biggest New Mexico cities
Non-owner auto insurance cost in Alamogordo is $22 a month or $261 a year, whereas drivers in Farmington pay $22 a month for the same coverage.
Insurance rates vary by city in New Mexico. Car insurance companies consider the rate of accidents, theft, and vandalism in a particular area when determining the premiums for non-owner car insurance.
The cost of living is another factor that influences non-owner car insurance rates. Cities with higher costs of living in New Mexico generally pay higher insurance premiums, including non-owner car insurance.
See how much you’ll pay for non-owner car insurance in your city in the table below.
| City | Annual full coverage rates | Monthly full coverage rates |
|---|---|---|
| Alamogordo | $261 | $22 |
| Farmington | $266 | $22 |
| Clovis | $285 | $24 |
| Roswell | $287 | $24 |
| Carlsbad | $293 | $24 |
| Hobbs | $301 | $25 |
| Las Cruces | $305 | $25 |
| Santa Fe | $329 | $27 |
| Rio Rancho | $374 | $31 |
| Albuquerque | $392 | $33 |
Affordable non-owner insurance in New Mexico, by ZIP code
A 40-year-old New Mexico driver living in ZIP 87942 pays $251 a year or $21 per month for non-owner car insurance, whereas insurance rates in the ZIP code 87943 is $252 a year or $21 per month for a driver age with a clean driving record.
When should you consider buying non-owner car insurance in New Mexico?
Non-owner car insurance is designed for individuals who do not own a vehicle but still need coverage for the times they drive a car that is not their own. This type of insurance typically provides liability coverage, which means it will cover any damages or injuries that you may cause to others while driving someone else’s vehicle.
Aside from providing coverage for accidents, non-owner car insurance can also supplement any existing coverage the car owner may have. It can offer peace of mind to the car owner, as they will not have to worry about their own insurance rates increasing due to an accident caused by someone else.
For example, if you’re driving a friend’s vehicle with only basic liability coverage, your non-owner insurance can help cover the extra costs if the damages exceed their policy’s coverage limits.
Moreover, maintaining continuous insurance coverage is important for keeping your future insurance rates low. This includes having non-owner car insurance when you may not own a vehicle. Insurance companies often view gaps in coverage as high-risk behavior, which can result in higher premiums.
Maintaining non-owner car insurance during this time proves your commitment to continuous coverage, helping to keep your insurance rates more affordable in the long run.
Final thoughts on non-owner car insurance in New Mexico
Non-owner car insurance in New Mexico is ideal for those who rent or borrow vehicles, use car-sharing services or are required to file an SR-22 form.
It is a good option for those who often rent or borrow vehicles as it offers liability coverage when driving someone else’s car and can supplement the car owner’s existing insurance policy.
It is also beneficial for maintaining continuous insurance coverage, which can help keep your rates low in the future. Consider a non-owner car insurance policy if you frequently use vehicles that do not belong to you, and get quotes from three different companies to ensure you’re getting the best rate.
Resources & Methodology
Methodology
CarInsurance.com gathered data on non-owner car insurance rates from Quadrant Information Services. The rates are for non-owner state minimum liability only and the coverage limit varies by state.
To determine non-owner car insurance rates for different companies, CarInsurance.com used a sample profile of a 40-year-old male and female driver who owns a Honda Accord LX with no traffic violations on his record. We compared 53,409,632 insurance quotes across 34,588 ZIP codes from 170 insurance companies in the U.S.
Insurance company: Based on the analysis, we have created lists of the companies that offer non-owner insurance.
Age group: Non-owner car insurance rates are calculated by evaluating the sample profile for different age groups.
- Teens: Age 16-19
- Young adults: Age 20-24
- Adult drivers: Age 25-60
- Senior drivers: Age 65-75
To get non-owner car insurance rates for different cities and age groups we have compared 53,409,632 car insurance quotes across 34,588 ZIP codes from 75 company groups nationwide. These are sample rates and should only be used for comparison purposes.
These are sample rates and should only be used for comparison purposes.
Get advice from an experienced insurance professional. Our experts will help you navigate your insurance questions with clarity and confidence.
Browse all FAQs