Buying competitive insurance for a Chevrolet Equinox in New Mexico doesn’t take a lot of effort, but it relies on an enormous amount of rating factors such as whether you use your Equinox for business use, whether or not you have filed claims in the past, and your choice of physical damage deductibles. New Mexico drivers will pay around $1,061 annually to insure their Equinox, but that cost is a valuation calculated based on a 40-year-old married male driver with full comprehensive and collision coverage and $100 deductibles.
When projecting a rate like this, the problem is that you may not be 40 years old (or even male), maybe you are single instead of married, and you want different coverage limits than the example. This shows why the only real way to find affordable rates for your Chevrolet is to compare as many rates as you can.
The specific trim level can impact the cost of insurance, so the price to insure a Equinox LS 2WD model will be $114 less expensive the insurance cost for the higher-priced Equinox LTZ AWD model, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$252||$460||$332||$20||$100||$1,164||$97|
|Equinox LT 2WD||$252||$460||$332||$20||$100||$1,164||$97|
|Equinox LS AWD||$252||$460||$332||$20||$100||$1,164||$97|
|Equinox LT AWD||$252||$460||$332||$20||$100||$1,164||$97|
|Equinox LTZ 2WD||$284||$542||$332||$20||$100||$1,278||$107|
|Equinox LTZ AWD||$284||$542||$332||$20||$100||$1,278||$107|
|Equinox LTZ AWD||$284||$542||$332||$20||$100||$1,278||$107|
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Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Premium amounts do not factor in specific zip code location which can change premium rates greatly.
Determining which company quotes the lowest-priced car insurance rates for a Chevrolet Equinox will involve a little more sweat in order to find the most economical policy. Each insurer has a unique formula to set their prices, so we’ll go over the car insurance companies that tend to be cheaper in Albuquerque.
It’s important that readers know that New Mexico car insurance rates are based on many factors which can substantially decrease or increase the price you pay. Turning one year older, having a claim, or getting a few speeding tickets may prompt premium changes that can cause some rates to be cheaper in comparison to the competition.
Find Cheaper Car Insurance for Your Equinox
USAA offers some of the most affordable car insurance rates in Albuquerque at around $663 a year. Allied, Safeco, Farm Bureau Mutual, and State Farm also qualify as some of the most economical Albuquerque, NM insurance companies.
As shown above, if you are a customer of Allied and switched to USAA, you might realize an annual premium reduction of approximately $267. Policyholders with Safeco might save as much as $351 a year, and Farm Bureau Mutual insureds might see rate reductions of $539 a year.
Remember that these policy rates are averages for all types of insureds and vehicles and and are not figured with a specific vehicle garaging location for a Chevrolet Equinox. So the company that fits you best may not even be in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
Get discounts on Albuquerque insurance
Insurers that provide coverage for a Chevrolet Equinox may also provide policy discounts that could potentially reduce rates by as much as 30% if you meet eligibility requirements. A few popular companies and some of their more popular discounts include:
- GEICO includes discounts for membership and employees, good student, air bags, emergency military deployment, multi-policy, and anti-theft.
- USAA offers premium reductions for defensive driver, family discount, multi-vehicle, vehicle storage, and safe driver.
- Progressive discounts include online quote discount, online signing, multi-policy, continuous coverage, good student, homeowner, and multi-vehicle.
- American Family may include discounts for multi-vehicle, defensive driver, bundled insurance, TimeAway discount, good student, and Steer into Savings.
- Esurance offers discounts including online quote, good driver, defensive driver, safety device, and emergency road assistance.
- Farmers Insurance has discounts for business and professional, teen driver, pay in full, multi-car, bundle discounts, and distant student.
- State Farm policyholders can earn discounts including driver’s education, Steer Clear safe driver discount, anti-theft, student away at school, multiple policy, and accident-free.
The chart below visualizes the comparison of insurance premiums with and without discounts applied to the policy rates. The price estimates are based on a female driver, a clean driving record, no at-fault accidents, New Mexico state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with accident-free, vehicle safety, anti-theft, claim-free, multiple vehicle, and safe-driver discounts applied. When taking advantage of discounts, theaverage amount saved on car insurance for a Chevrolet Equinox is 28% or $427.
The diagram below demonstrates how deductible levels can increase or decrease insurance premiums when quoting cheap insurance for a Chevrolet Equinox. The price estimates are based on a married female driver, comp and collision included, and no other discounts are factored in.
As shown above, a 40-year-old driver could save $262 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $396 by selecting a $1,000 deductible. Younger drivers, like the 20-year-old category, could reduce their rates up to $652 each year just by choosing larger deductibles.
When insureds make the decision to increase the deductibles on their policy, it is necessary to have additional funds squirreled away to be able to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Illustration showing the impact of accidents and violations
The common sense way to find the best car insurance premiums for an Equinox is to be a cautious driver and avoid accidents and traffic violations. The diagram below demonstrates how traffic citations and accident claims can impact insurance premiums for each age group. Data assumes a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.
In the previous chart, the average cost of a car insurance policy per year with a clean driving record and no accidents is $1,361. Receive two speeding tickets and the average cost surges to $1,868, an increase of $507 each year. Now add one accident along with the two speeding tickets and the 12-month cost of car insurance for a Chevrolet Equinox goes up to an average of $2,384. That’s an increase of $1,023, or $85 per month, just for not driving responsibly!
The insurance agents in Albuquerque listed below are willing to help you determine which policy fits your needs best, since lots of drivers aren’t clear which coverage they need and would like to get some guidance when comparing insurance rates for an Equinox. It can be complicated to find the cheapest rate yourself, so insurance agents can give you comfort knowing your policy gives you enough protection.
To locate an Albuquerque auto insurance agent close to where you live, click the button at the bottom of the list.
- Rick Paul – State Farm Insurance Agent
1111 Alameda Blvd NW – Albuquerque, NM 87114 – (505) 898-2356
- Aimee Abeyta – State Farm Insurance Agent
12836 Lomas Blvd NE a – Albuquerque, NM 87112 – (505) 292-3990
- Lanell Anderson – State Farm Insurance Agent
5600 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 881-0550
- Allstate Insurance: Larry Gaylord
3296 Coors Blvd NW d – Albuquerque, NM 87120 – (505) 836-4630