Car insurance is a necessary expense for drivers, but rates can vary widely depending on your location. Drivers in Silver City, NM tend to pay less than the average rate in New Mexico However, costs are still heavily influenced by your personal factors. This article will cover everything you need to know about getting cheap car insurance quotes in Silver City
Average Car Insurance Rates in Silver City
According to Jerry data, the average annual cost of minimum liability car insurance in Silver City is $996, which comes out to around $83 per month. The average annual cost for a full coverage policy is $1,800 or about $150 per month
This is approximately 36% less than the statewide average premiums in New Mexico. Rates in Silver City are cheaper than nationwide averages as well.
The car insurance rates you’ll be quoted depend on your specific risk profile. Getting quotes from multiple top insurers is the best way to find the cheapest price. Jerry makes this easy by comparing quotes from over 55 carriers like Progressive, Travelers, AAA, and more.
Factors That Influence Car Insurance Costs
Car insurance companies use various rating factors to calculate your premiums:
-
Driving Record: Getting tickets, at-fault accidents, and claims will increase your rates. A clean record leads to lower premiums.
-
Age: Drivers under 25 usually pay more due to limited experience. Rates start dropping after 25.
-
Vehicle Type: Insuring sports cars, luxury vehicles, or SUVs costs more than insuring sedans or commuter cars.
-
Credit History: Statistics show drivers with poor credit tend to file more claims. As a result, lower credit scores lead to higher premiums.
-
Coverage Level: Minimum liability insurance is cheaper than full or additional coverage options.
-
Deductible: Choosing a higher deductible reduces monthly costs.
-
Discounts: Ask your insurer about ways to get discounts to offset costs.
Minimum Liability Requirements in New Mexico
Under state laws, all drivers in Silver City must carry at least:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $10,000 property damage liability per accident
However, experts recommend getting 100/300/100 minimum coverage or even full coverage policies for better protection.
How Different Factors Affect Your Premiums
Below are some examples of how common rating factors influence average insurance rates for drivers in Silver City:
- Age: A 16-19 year old pays $146 per month while a 66 year old pays $53 per month for the same policy.
- Driving Record: After a DUI violation, rates can increase by over 50% compared to a clean driving record.
- Credit History: Drivers with excellent credit (scores above 750) pay approximately 20% less than those with poor credit (scores below 550).
- Car Type: Insuring a 2015 Toyota Corolla costs $146 per month while a 2015 BMW M3 is $204 per month.
- Coverage Level: State minimum liability is $83 per month while full coverage costs around $150 per month.
Shopping around and comparing personalized quotes is the only way to find the best rate based on your situation. The Jerry app makes this easy by giving free quotes from top companies in under 2 minutes.
Ways Drivers Can Save on Car Insurance
You have options to reduce your car insurance costs in Silver City:
-
Compare quotes frequently – Rates change so check for deals every 6-12 months. Jerry updates your quotes with each renewal.
-
Ask about discounts – Inquire about savings for things like safe driving, good students, coverage bundling, loyalty programs, and more.
-
Raise your deductible – Opting for a higher deductible like $500 or $1,000 can lower your premiums.
-
Improve your credit – Work on raising your credit score to potentially save hundreds per year.
-
Take defensive driving courses – Completing an approved class qualifies you for insurer discounts.
-
Check with affinity groups – Alumni, employer, or occupational associations may offer exclusive deals.
-
Limit mileage – Dropping annual mileage from 15,000 to 5,000 saves over 10% on premiums for some companies.
-
Maintain continuous coverage – Going without insurance leads to higher rates in the future.
The Best Car Insurance Companies in Silver City
Based on customer feedback, some top-rated insurers in Silver City include:
- State Farm
- Allstate
- GEICO
- Progressive
- Farmers
- USAA
- Liberty Mutual
- Nationwide
- American Family Insurance
- Travelers
Make sure to get quotes from a mix of large national carriers as well local insurance providers when shopping for a policy. This gives you the best chance to unlock low rates and good service.
Frequently Asked Questions
Below are answers to some common questions about car insurance in Silver City:
How much is car insurance in Silver City?
On average, drivers pay $83 per month for minimum coverage and $150 per month for full coverage. However, your personalized quotes will vary.
What company has the cheapest car insurance in Silver City?
The cheapest company depends on each driver’s risk factors. Jerry provides free quotes from over 55 top insurers so you can easily compare options.
What factors make car insurance more expensive in Silver City?
High uninsured driver rates, frequent accidents, and expensive repair costs contribute to higher premiums in Silver City. Your personal rating factors also impact your costs significantly.
How can I get the best deal on car insurance in Silver City?
Comparing quotes across multiple insurers is key. Also ask about available discounts, raise your deductible, improve your credit, lower mileage, and maintain continuous coverage.
What is the minimum insurance required in Silver City?
At minimum you need $25,000 bodily injury liability per person, $50,000 per accident, and $10,000 property damage liability per accident.
However, experts strongly recommend getting more than just basic state minimum coverage.
Get Free Quotes to Find Savings
The easiest way to find cheap car insurance in Silver City is to compare quotes online. Jerry makes this simple by providing free quotes from top providers in under 2 minutes. Plus they handle your paperwork and support you through the policy purchase and renewal process.
To get started, just enter your zip code and some basic details at Jerry.com or download the Jerry app. You can expect quotes tailored for Silver City drivers and help securing coverage at the best available rate.
Quote & buy online Insurance Type (required) Insurance Type
Enter your zip code
As a native Silver City resident, I am committed to helping local people fulfill their insurance needs. I am very active in making the community a better place to live. As a member of several local boards that help people in need, I really enjoy helping people save money on their insurance. My agency is fully bilingual and can help both Spanish as well as English speaking customers. As your Farmers® agent in Silver City, NM, I help people like you find the right insurance coverage for your needs. This process is straightforward and personalized to help make you smarter about insurance. I can help you better understand your coverage options, whether they are for your car, home, renters, business, or something else.
Give me a call at and Ill be happy to answer any questions you might have.
Connect Languages spoken English, Spanish
It can be hard to figure out what kind of car insurance you need and how much you can spend. Your local Farmers agent can help you choose the right coverage for your needs and budget. You can get an online quote for auto insurance and find out about our discounts that can help you save money.
You may own the most valuable thing in your life, so you’ll want to make sure that your insurance company has been around for a long time. For more than 80 years, Farmers® has been selling insurance. If disaster strikes and your home is damaged by a fire or another covered cause of loss, Farmers® will be there for you. Plus, get competitive rates with our multi-line insurance discounts. Get a Home insurance quote now.
Life has changed a lot in the last few years. If you bought a house, got married, had kids, or started a small business, you should look over your life insurance policy. Call me right away to make a plan for how you can help the people who depend on you financially. ADFL029AWS 9/17.
Even though your landlord may have insurance, it might not cover your things if there’s a fire in the building. Thats why theres Renters insurance. Get a Renters insurance quote to see how affordable it is to protect your personal belongings.
Choosing the right business insurance for your specific operation doesn’t have to be as hard as running your small business. As long as you have a Farmers agent, they can help you make an insurance plan that fits your business and lowers your risk. Request a Business insurance quote today to get started.
Your condo is more than a place you call home. Its also a major investment filled with possessions you want to protect. Get a quote on condo insurance to see how affordable it is to protect your personal belongings.