Cheapest Auto Insurance in Hobbs, New Mexico (2025)
National General offers the cheapest car insurance in Hobbs, with minimum-coverage policies as low as $64 per month.
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The average monthly cost of car insurance in Hobb is $116 per month, which is slightly above the state average of $106. 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 $144. 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.
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.
Best insurer for teen drivers: State Farm
Best insurer for military members: USAA
Best insurer for discounts: GEICO
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: National General
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 $69 per month, and here you can see how quotes compare from leading insurers.
Cheapest full-coverage car insurance in Hobbs: Progressive
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 $164 per month, and you can see how quotes from top insurers compare here.
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:4
If liability coverage alone isn’t robust enough for you, you can enhance your insurance with any of the following coverages:
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.5
The average rate for liability-only insurance in Hobbs with a clean driving record is $69 per month. The average rates for coverage with a speeding ticket, DUI, and at-fault accident are $81, $90, and $88, 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.
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.
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.