Best Insurance for Teen Drivers in New Mexico

One of the challenges that parents face when their teens start driving is finding affordable car insurance. Teen drivers are considered high-risk by insurance companies, which means they pay higher premiums than older and more experienced drivers. However, some car insurance companies offer better rates and discounts for teen drivers than others. Here is a comparison of the top 5 major auto insurance companies that have the best auto insurance for teen drivers in New Mexico and the average annual cost of insurance for teens offered by the major auto insurance companies.

- State Farm: State Farm is the best overall car insurance company for teen drivers in New Mexico, according to MoneyGeek's rankings. State Farm has an average annual cost of $4,103 for parents and a 16-year-old driver, and $3,108 for parents and an 18-year-old driver. State Farm also has high customer satisfaction ratings, a low level of complaints, and offers rideshare insurance for policyholders who work for a ridesharing company.

- Nationwide: Nationwide is the second-best car insurance company for teen drivers in New Mexico, according to MoneyGeek's rankings. Nationwide has an average annual cost of $4,502 for parents and a 16-year-old driver, and $4,352 for parents and an 18-year-old driver. Nationwide also has very low complaint levels, and offers new car replacement and accident forgiveness as optional coverages.

- Farmers: Farmers is the third-best car insurance company for teen drivers in New Mexico, according to MoneyGeek's rankings. Farmers has an average annual cost of $5,663 for parents and a 16-year-old driver, and $5,110 for parents and an 18-year-old driver. Farmers also has very low complaint levels, and offers new car replacement as an optional coverage. Farmers is exceptional for those with new cars, as it offers a guaranteed value policy that pays the full value of your car if it is totaled or stolen.

- Geico: Geico is the fourth-best car insurance company for teen drivers in New Mexico, according to MoneyGeek's rankings. Geico has an average annual cost of $4,471 for parents and a 16-year-old driver, and $3,890 for parents and an 18-year-old driver. Geico also has average customer satisfaction ratings and complaint levels, and offers a variety of discounts for teen drivers, such as good student, driver's education, defensive driving, and multi-car discounts.

- USAA: USAA is the fifth-best car insurance company for teen drivers in New Mexico, according to MoneyGeek's rankings. USAA has an average annual cost of $4,103 for parents and a 16-year-old driver, and $3,108 for parents and an 18-year-old driver. USAA also has high customer satisfaction ratings and low complaint levels, but it is only available to military members and their families.

These are some of the best options for car insurance for teen drivers in New Mexico. However, rates may vary depending on your location, driving history, vehicle type, coverage level, and other factors. Therefore, it is advisable to compare quotes from multiple insurers before choosing a policy.

: https://www.forbes.com/advisor/car-insurance/best-cheap-car-insurance-for-teens/

: https://www.moneygeek.com/insurance/auto/best-car-insurance-new-mexico/