Find Car Insurance in Hobbs, New Mexico

What You Should Know About Car Insurance in Hobbs, NM

Hobbs was not settled until James Isaac Hobbs set up his homestead in 1907. Development was slow, with only several hundred people moving in before it became an official municipality in 1929. But all that changed when oil was discovered in the city in 1927. People began moving to Hobbs for work in the oil and gas extraction industry, which remains the centerpiece of the city’s economy, though healthcare and retail now play an important role. The town currently has a population of just over 40,000 spread comfortably over 26 square miles.

For a town its size, Hobbs offers a generous array of amenities. A local airport, a hospital, over 20 government-owned parks for outdoor recreation, the Center of Recreational Excellence for indoor swimming and sports, New Mexico Junior College, the University of the Southwest, the Western Heritage Museum, several department stores, and even a regional airport offering flights to Dallas, Houston, and Denver. There are lots of areas to visit in this friendly city, but before you hop into your car for a community event or for some fine Mexican or Western cuisine, make sure to talk to an expert agent to obtain the best auto insurance at the best price in New Mexico.

How Much Does Car Insurance Cost in Hobbs, New Mexico?

If you drive a vehicle, consider yourself lucky, as car insurance in New Mexico is much more affordable than in other states. The average full coverage policy will cost you $1,591, which is about 20% less than the national average of $2,014. Minimum liability policies in the state are $346 on average, which is over 40% less than the national average of $622. You can get a better idea of your personal rate after you discuss it with your agent, but you will generally pay significantly less than in other states.

What Does It Mean If New Mexico Is an At-Fault State?

New Mexico is an at-fault state. If you are in an accident, the driver who is found to have caused it will be deemed responsible to pay for property damages and personal injuries, and their insurer will have to compensate the other driver for their losses.

In a no-fault state, property damages are treated the same — the responsible party’s insurer pays for the other driver’s loss. However, when it comes to personal injuries in a no-fault state, each driver must file a claim with their own insurer, regardless of who caused the accident.

Affordable Car Insurance Rates Comparison by Cities in Hobbs

In many regions, rates can be very different from one city to the next, and sometimes even neighboring zip codes within the same town have a wide spread. However, Hobbs and the surrounding cities happen to have pretty similar average premiums, as shown below:

City	Full Coverage Insurance	Liability Insurance Coverage
Hobbs	$139	$33
Atresia	$135	$31
Carlsbad	$137	$32
Eunice	$136	$32
Lovington	$139	$32

How Bundling Your Car and Homeowners Insurance Can Save You Money in Hobbs

It may be hard to imagine getting a discount on your premiums if you are already getting an excellent price. However, insurers encourage their clients to get multiple policies, a practice called bundling, and are willing to offer discounts as high as 25%. When you bundle your home and auto insurance, everyone wins — the seller gets more business, you get a discount, and your monthly bill management is easier because you pay the same carrier for both policies.

Gaining the most savings through bundling is complicated for various reasons, including the fact that some insurers might offer a higher discount, but they do not necessarily have the most affordable prices. Others might have more affordable rates, but not a very good bundling discount. Your InsureOne agent’s concierge treatment will shine as they shop your car and homeowners insurance with multiple top-tier carriers to find both reasonable pricing and a decent bundling discount, so you get the coverage you need at affordable prices.

What Types of Car Insurance Discounts are Available in Hobbs?

Even after reducing your rate by bundling, you may be able to lower your insurance premiums further by taking advantage of some of the other discounts insurers offer. These are some of them, but your agent might have many more for you as well:

• Paperless billing discount
• Auto pay discount
• Paid-in-full discount
• Telematics discount
• Senior discount

Notable Car Insurance Laws in Hobbs

New Mexico cities do not regulate the insurance industry. Instead, they rely on the state to create laws regarding mandatory levels of coverage, fines for driving while uninsured, and other such legislation. These are some of New Mexico’s insurance laws:

What Are the Mandatory Car Insurance Requirements in Hobbs?

To ensure you can pay for damages you cause while driving, New Mexico requires each policy issued in the state to have certain elements included. Many states have similar requirements, often with minor differences. These are New Mexico’s mandated levels of coverage:

• $25,000 liability coverage for bodily injury per person
• $50,000 liability coverage for bodily injury per accident
• $10,000 liability coverage for property damage

What Is the Penalty for Driving Without Insurance in Hobbs?

If you do not have the required coverage and you cause an accident, you will have to pay for the damages you cause out of pocket. That is why it makes sense to obtain coverage levels that are even higher than what the state requires. If a police officer catches you driving without any policy in place, they could hit you with the following:

• A $300 fine
• Up to 90 days in jail
• Suspension of driving privileges
• Revocation of registration
• A $30 reinstatement fee for your registration

What Factors Go into My Car Insurance Cost in Hobbs?

Setting your premiums is a complicated process. Your agent will ask you a series of questions and will pull information about you, your car, and where you live from various sources. These factors help your insurer figure out their risk of insuring you so they can set a price on your policy. Here are some examples of factors they will use to decide how much to charge you for coverage:

• Employment
• Accident rates
• Make and model
• Marital status
• Crime rates

Typical Driving Conditions in Hobbs

Hobbs does not have any major traffic issues. However, there are times when the roads get busy, such as during rush hour, when locals and commuters from nearby cities head to work in town and back home. The weather can be an issue at times as well, as thunderstorms and wind events occur in Hobbs, especially during the spring, and create visibility issues and slippery road conditions. During the hot summer days, the sun can be blinding as well, and the heat can cause drivers to get irritated.

How Many Car Accidents Happen in Hobbs Per Year?

Based on a study by the University of New Mexico, these are the numbers of total accidents for 2023 in Hobbs and several other cities in the area:

City	Total Crashes
Hobbs	1,139
Artesia	243
Carlsbad	966
Eunice	43
Lovington	202

How Many Uninsured/Underinsured Motorists Are in Hobbs?

According to the Insurance Information Institute, 24.1% of New Mexico’s drivers were uninsured in 2023. That is the second-highest percentage in the U.S. Given this statistic, you should strongly consider adding uninsured/underinsured motorist coverage to your policy, because if an uninsured driver hits your car, they might not have the ability to pay for your damages.