It takes a few minutes, but the best way to get affordable auto insurance rates in Albuquerque is to do a yearly price comparison from insurers who sell insurance in New Mexico.
- Read and learn about how your policy works and the changes you can make to keep rates in check. Many rating factors that cause rate increases like traffic citations, accidents, and a low credit rating can be rectified by making minor changes in your lifestyle. Later in this article we will cover additional tips to get cheaper coverage and find more discounts that you may not know about.
- Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from one company like GEICO or Allstate, while independent agents can provide rate quotes from multiple sources. Select a company
- Compare the quotes to your existing rates to see if a cheaper rate is available in Albuquerque. If you can save money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
- Provide notification to your current company of your intent to cancel your current auto insurance policy and submit a down payment along with a completed application to the new company. Once the application is submitted, store the certificate of insurance in your glove compartment.
One key aspect when comparing rates is that you’ll want to make sure you compare identical limits and deductibles on each quote request and and to get rate quotes from every insurance company. This helps ensure a level playing field and many rates to choose from.
Regrettably, almost 70% of drivers have stayed with the same insurance company for at least the last four years, and nearly 40% of drivers have never compared insurance rates at all. Most drivers in Albuquerque can save hundreds of dollars each year, but most undervalue the benefits if they changed companies.
The quickest method we recommend to compare insurance rates in your area takes advantage of the fact auto insurance companies pay for the opportunity to provide you with free rate quotes. The one thing you need to do is give the companies some data such as whether you have decent credit, your job, the ages of drivers, and daily mileage. The data is submitted instantly to many highly-rated insurers and they return rate quotes quickly.
To start a quote now, click here and find out if lower rates are available in Albuquerque.
The companies in the list below provide free quotes in New Mexico. If multiple companies are listed, we recommend you visit several of them to find the most competitive auto insurance rates.
You Can Change Your Insurance Costs
Lots of things are used in the calculation when you get your auto insurance bill. Some are pretty understandable such as your driving record, although others are less obvious such as whether you are married or how safe your car is.
- Save money by having responsible credit – Having a bad credit rating is likely to be a major factor in calculating your insurance rates. So if your credit score could use some work, you could be paying less to insure your Infiniti M37 by taking the time to improve your credit score. People with high credit scores tend to file fewer claims than drivers with lower credit scores.
- Never let your insurance lapse – Not having insurance can get your license suspended and any future policy may cost more because you let your coverage have a gap. And not only will insurance be more expensive, getting caught without coverage can result in a revoked license or a big fine.
- Pleasure use or commuting – The more you drive each year the higher the price you pay to insure it. Most insurance companies calculate rates partially by how you use the vehicle. Cars not used for work or commuting receive lower rates than vehicles that are driven to work every day. Verify your insurance coverage properly reflects annual mileage, because it can save money. Improper usage on your M37 is throwing money out the window.
- Vehicle options impact rates – Purchasing a vehicle with an alarm system can help bring down rates. Theft prevention features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers help track and prevent car theft and help bring rates down.
- Increase comp and collision deductibles and save – Physical damage protection, also known as collision and other-than-collision, helps pay for damage to your vehicle. A few examples of covered claims are a broken side mirror, hail damage, and damage from a fallen tree branch. Physical damage deductibles are how much you are required to spend out-of-pocket if you file a covered claim. The more money you have to pay, the lower your rates will be.
Insurance is not optional in New Mexico
Despite the fact that insurance is not cheap in Albuquerque, maintaining insurance is mandatory in New Mexico but it also protects more than you think.
First, just about all states have mandatory insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability coverage in order to be legal. In New Mexico these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if your M37 has a lienholder, almost all lenders will stipulate that you carry insurance to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the bank may insure your Infiniti for a lot more money and force you to reimburse them for it.
Third, insurance safeguards not only your car but also your financial assets. It also can pay for medical expenses that are the result of an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your insurance policy will pay to repair the damage.
The benefits of buying enough insurance are without a doubt worth the cost, especially for larger claims. On average, a vehicle owner in Albuquerque is wasting up to $865 each year so it’s recommended you shop around at every renewal to make sure the price is not too high.
How to find a good New Mexico auto insurance company
Insuring your vehicle with the highest-rated insurance company can be difficult considering how many different companies sell coverage in New Mexico. The rank data shown next can help you pick which auto insurance companies to look at shopping your coverage with.
Top 10 Albuquerque Car Insurance Companies Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- 21st Century – 88%
- Liberty Mutual – 88%
- Allstate – 88%
Top 10 Albuquerque Car Insurance Companies Overall
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
- Mercury Insurance