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How much is car insurance in Farmington?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that coverage in Farmington typically costs about $22 a month less than it does in the rest of New Mexico.
If you're thinking of moving to Farmington from out of state, you may still be in luck. It's about $23 cheaper than the national average to insure your vehicle in Farmington.
Although these are the average car insurance rates in Farmington, you could end up paying something different. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Your bill each month is calculated off of your age, gender, vehicle make and model, driving record, and even your credit score depending on the circumstances.
We've analyzed the average rate for Farmington and broken down the different factors to help you understand what your monthly bill might look like. If you think you might be overpaying for insurance in your area, enter your ZIP below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
It makes sense that older drivers would have more experience behind the wheel. When it comes to auto insurance rates, that experience can help put some change back into your pocket. As you can see, 18-24-year-olds pay two times the price that drivers of retirement age.
You can expect to see your monthly premium drop every 10 years or so. Once you hit retirement, however, your rates may rise again in Farmington.
Average Car Insurance Rates by Gender
Car insurance rates for women are generally cheaper than they are for men. While this isn't true in Farmington, the difference in monthly rates is minimal.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Accidents||Not Enough Data|
Rates can change drastically depending on your driving record. Drivers with clean records will pay lower rates than those with accidents or violations. In Farmington, drivers with one accident on their record will experience rates around $82 a month. In addition, drivers with a single ticket on their record can expect to pay around $66 a month on average.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. In order to reduce your monthly bill and get the cheapest car insurance possible, keep your record clean and drive carefully.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||Not Enough Data|
|15 Years or Older||$51|
The most affordable vehicles to insure in Farmington are usually trucks and vans, which run about $48 per month.
Car owners can expect to pay an average of around $62 a month for their policy, while SUVs usually cost around $60 a month to insure.
Your vehicle's age also plays a role in your monthly payment. Generally, newer vehicles are going to cost the most to insure. Once your car is a few years old however, your rates may start to dip back down a bit. In Farmington, the most expensive vehicles to insure are vehicles four-to-five years old and eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$59|
More often than not, car insurance is slightly cheaper for married policyholders. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.
On a national scale, single drivers typically pay more than married couples do for auto insurance. Farmington is no exception, with the difference totaling to around $13 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$60|
Another factor taken into consideration is your living accommodations. Whether rent your home or own property in Farmington, you can expect to pay around $59 per month.
Depending on your insurance company, they may offer you a discount if you bundle your home or renters insurance with your auto policy.
Car Insurance Companies in Farmington, NM
Recent trends in car insurance for Farmington drivers
Car insurance rates are frequently changing, so it's in your best interest to understand which way your area is trending before picking an insurance policy.
In Farmington, the rates for car insurance had been decreasing from 2017-2018, when they reached a low of $32. This changed in 2019, when car insurance rates began to increase. They hit a high of $67 in 2021, and finished at $51 in 2022.
How does Farmington compare to neighboring areas?
Why are car insurance rates in Farmington different from other areas?
Car insurance companies will take into account a number of factors when deciding how much to charge for a policy. The specifics of where you live will have an impact on your personal policy. This might include things like:
- Access to off-street parking
- Total amount of drivers in the community
- Road Safety (how many accidents each locality has)
- Local crime rates
- Regional regulations
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Farmington?
Arming yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
Luckily, Compare.com does all of that work for you. Enter your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies providing policies in Farmington.
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Farmington Insurance FAQs
What factors affect car insurance quotes in Farmington?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your age and gender, but also factors like your vehicle's year, make and model, plus your address, credit score, marital status, and driving record.
Why is the cost of car insurance in Farmington different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, local laws, and crime rates -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Farmington?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Farmington?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Farmington or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.
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