Best Ways to Save on Albuquerque Kia Forte Insurance

How long has it been since you shopped around for more competitive Kia Forte insurance in Albuquerque? Trying to find low-cost insurance for a new or used Kia Forte in New Mexico can normally be difficult, but you can learn the following methods and make it easy.

There are both good and bad ways to compare insurance rates and you need to know the best way to compare rates on a Kia and locate the lowest possible price either online or from Albuquerque insurance agents.

Reducing your Kia Forte insurance rates is pretty simple and can save money. The only thing you need to do is spend a few minutes on the computer to get quotes provided by online insurance companies.

The companies in the list below are ready to provide price quotes in Albuquerque, NM. In order to find the best car insurance in NM, we suggest you compare several of them to get a more complete price comparison.

Auto insurance analysis for a Kia Forte

The data table shown below outlines a range of insurance coverage prices for Kia Forte models. Having a good understanding how premiums are determined is important for you to make smart choices when comparing insurance rates.

Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rates do not factor in vehicle location which can change insurance rates greatly.

Can higher deductibles save money?

A question often asked by Albuquerque drivers is how high or low should comp and collision deductibles be. The following insurance rates highlight the price difference between high and low insurance deductibles. The first set of prices uses a $250 deductible for physical damage and the second rate table uses a $1,000 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Premium amounts do not factor in vehicle location which can raise or lower insurance rates significantly.

Based on this data, we can arrive at the conclusion that using a $250 deductible could cost the average driver approximately $24 more each month or $288 a year across all Kia Forte models than quoting the higher $1,000 deductible. Since you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to average more than 31 months between claim filings, you would most likely save money going with the higher deductible.

One thing to note is that a higher deductible level means you pay more out-of-pocket when you have a physical damage claim. You need to have some extra funds in the event you have to pay the higher deductible in order to repair your vehicle.

Impact of careless driving on auto insurance rates

The illustration below shows how speeding tickets and accidents can increase Kia Forte auto insurance rates for each different age group. The price estimates are based on a single male driver, full coverage, $100 deductibles, and no discounts are factored in.

Difference between full coverage and liability only rates

The diagram below shows the difference between Kia Forte car insurance rates with full physical damage coverage compared to only buying liability only. The data assumes no violations or accidents, $1,000 deductibles, single marital status, and no discounts are factored in.

When to stop buying comprehensive and collision coverage

There isn’t a steadfast formula of when to eliminate physical damage insurance, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let’s say your Kia Forte replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $6,000 after paying your deductible. If premium cost is more than $600 annually for physical damage coverage, then you might want to think about dropping full coverage.

There are some situations where dropping full coverage is not a good plan. If you haven’t paid off your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.

Lower-cost Kia Forte insurance rates in Albuquerque

Insurance can be prohibitively expensive, but you can get discounts that could drop your premiums quite a bit. Some discounts will apply at quote time, but some may not be applied and must be asked for prior to getting the savings. If you are not receiving all the discounts possible, you could be getting lower rates.

• Discounts for New Vehicles – Putting coverage on a new Forte can save you some money because new model year vehicles are generally safer.
• Driver Education Discount – Require your teen driver to enroll in driver’s education if offered at their school.
• Driver Training Discounts – Taking a driver safety course could save 5% or more depending on where you live.
• Active Service Discounts – Being deployed in the military could trigger a small discount.
• Fewer Miles Equal More Savings – Keeping the miles down on your Kia may enable drivers to earn substantially lower car insurance rates.
• Discount for Good Grades – This discount can be rewarded with saving of up to 25%. Many companies even apply the discount to college students up until you turn 25.

As a sidenote, most of the big mark downs will not be given to your bottom line cost. A few only apply to specific coverage prices like comprehensive or collision. Even though it may seem like you can get free auto insurance, companies don’t profit that way.

The illustration below shows the comparison of Kia Forte premium costs with and without some available policy discounts. The costs are based on a male driver, no claims or driving citations, New Mexico state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, safe-driver, multi-policy, and homeowner discounts applied.

Companies that may offer policyholders most of these discounts are:

• State Farm
• American Family
• AAA
• GEICO
• Mercury Insurance
• Farmers Insurance
• Progressive

When getting a coverage quote, ask each insurance company what discounts are available to you. Some credits might not apply in every state.

Insurance in New Mexico serves several purposes

Despite the high insurance cost for a Kia Forte in Albuquerque, insurance may be required for several reasons.

• Most states have mandatory liability insurance requirements which means you are required to carry specific minimum amounts of liability if you drive a vehicle. 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.
• If your Forte has a lienholder, most banks will require you to have full coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your Kia for a lot more money and require you to pay for the expensive policy.
• Insurance protects not only your Kia Forte but also your financial assets. Insurance will pay for medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if anyone sues you for causing an accident. If damage is caused by hail or an accident, comprehensive and collision coverage will pay to have it repaired.

The benefits of insuring your car more than offset the price you pay, especially when you need to use it. Unknowingly, the average driver overpays more than $850 per year so you should quote rates each time the policy renews to make sure the price is not too high.

Car insurance quotes from local Albuquerque insurance agencies

A lot of people still like to get advice from a local agent and that can be a smart move Good agents are trained to spot inefficiencies and help submit paperwork. The best thing about getting free rate quotes online is the fact that drivers can get better rates and still buy from a local agent. Buying from local insurance agents is still important in Albuquerque.

Upon completion of this quick form, your insurance data gets sent to local insurance agents in Albuquerque who will give you quotes for your car insurance coverage. It’s much easier because you don’t need to leave your computer as quotes are delivered to your email. If you have a need to get a price quote from a particular provider, you can always visit that company’s website and give them your coverage information.

Deciding on an provider requires you to look at more than just a cheap quote. Get answers to these questions too.

• Do they have any clout with companies to ensure a fair claim settlement?
• Is the agent CPCU or CIC certified?
• Who is covered by the car insurance policy?
• What is the financial rating for the quoted company?
• If independent agents, which companies do they recommend?
• Will the company cover a rental car if your car is getting fixed?
• How long has the business existed?
• Do they see any coverage gaps in your plan?

Information about specific coverages

Learning about specific coverages of your car insurance policy can help you determine which coverages you need for your vehicles. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy.

Auto liability

This protects you from injuries or damage you cause to other’s property or people that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 25/50/10 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a total limit of $10,000 for damage to vehicles and property. Alternatively, you may have a combined limit which combines the three limits into one amount without having the split limit caps.

Liability coverage protects against things such as bail bonds, repair bills for other people’s vehicles, legal defense fees, medical services and pain and suffering. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible. New Mexico requires drivers to carry at least 25/50/10 but you should think about purchasing more coverage.

The next chart shows why buying the state minimum limits may not be adequate coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage gives you protection from other drivers when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants as well as damage to your Kia Forte.

Since many New Mexico drivers only carry the minimum required liability limits (which is 25/50/10), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally the UM/UIM limits are set the same as your liability limits.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as chiropractic care, dental work and hospital visits. They are often used to fill the gap from your health insurance program or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

This coverage pays to fix your vehicle from damage resulting from colliding with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things like damaging your car on a curb, driving through your garage door, colliding with a tree and hitting a parking meter. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible on your Forte to get cheaper collision coverage.

Comprehensive auto coverage

Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as damage from getting keyed, a broken windshield and theft. The maximum payout your car insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.