Looking for lower-priced Subaru Outback insurance in Albuquerque? When shopping for lower-priced insurance, do you get confused by the dozens of auto insurance companies in Albuquerque? You have such a large number of options that it can easily turn into a burden to compare rates on Subaru Outback insurance. If you live there, you know that Albuquerque is an excellent city in which to live, but the high premiums for auto insurance can make it impossible to afford coverage.
Statistics show that over 70% of consumers kept their policy with the same company for a minimum of four years, and nearly the majority have never compared rates from other carriers. New Mexico drivers could save themselves almost 40% a year by just shopping around, but they don’t understand how simple it is to find cheaper auto insurance rates.
It’s a good idea to do price comparisons occasionally because prices are adjusted regularly by insurance companies. Just because you found the lowest quotes on Subaru Outback insurance in Albuquerque two years ago the chances are good that you can find a lower rate today. Ignore everything you know about auto insurance because I’m going to teach you the right way to save on auto insurance.
The table shown below covers detailed analysis of coverage prices for Subaru Outback models. Learning more about how rates are established is important for you to make decisions on the best policy coverages.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Outback 2.5I Premium||$312||$516||$434||$26||$130||$1,418||$118|
|Outback 2.5I Limited||$312||$516||$434||$26||$130||$1,418||$118|
|Outback 3.6R Premium||$312||$516||$434||$26||$130||$1,418||$118|
|Outback 3.6R Limited||$348||$608||$434||$26||$130||$1,546||$129|
|Get Your Own Custom Quote Go|
Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Rates do not factor in specific location which can decrease or increase premium rates noticeably.
The example below illustrates how choosing a deductible and can raise or lower Subaru Outback annual premium costs for each age group. The premium estimates are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.
Car insurance premiums based on gender
The diagram below illustrates the difference between Subaru Outback premium costs for male and female drivers. Data assumes no claims, a clean driving record, comp and collision included, $500 deductibles, drivers are not married, and no policy discounts are applied.
Full coverage or liability only
The illustration below compares Subaru Outback auto insurance rates when comparing full coverage to state minimum liability only. The price estimates are based on no accidents, no driving violations, $100 deductibles, single status, and no discounts are applied to the premium.
Should you pay for full coverage or liability only?
There is no set rule that works best for making the decision to drop comp and collision coverage, but there is a general convention. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s say your Subaru Outback settlement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $6,000 after paying your deductible. If premium cost is more than $600 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some cases where removing full coverage is not recommended. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage.
How Insurance Companies Determine Subaru Outback Insurance Premiums
Multiple criteria are considered when premium rates are determined. Some of the criteria are obvious such as your driving history, but some are more obscure like where you live or your vehicle rating.
The itemized list below are some of the factors used by your company to calculate your premiums.
Lower performance equals lower insurance costs – The make and model of the car you are buying insurance for makes a huge difference in your car insurance bill. The lowest premiums are usually for lower cost passenger models, but the final cost of insurance is determined by many other factors.
The next chart assumes a married female driver age 40, full coverage with $500 deductibles, and no discounts or violations. The chart compares Subaru Outback insurance premiums compared to other models that have a range of risk factors.
Teenage vs. older drivers – Teen drivers in New Mexico tend to be more careless when driving so car insurance rates are higher. Parents adding a beginning driver onto a policy will cause a huge premium hike. Older insureds are more cautious drivers, statistically cause fewer accidents, and are safer drivers.
The chart below assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.
What are your coverage deductibles? – Physical damage deductibles are how much you are willing to pay if a covered claim is submitted. Physical damage protection, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of covered claims could be rear-ending another vehicle, damage caused by hail, and damage from wind. The more expense you have to pay, the lower your rates will be.
Incidental coverages are wasting money – Insurance companies have many extra add-on coverages that you can buy on your car insurance policy. Insurance for things like replacement cost coverage, high-cost glass coverage, and additional equipment coverage could be just wasting money. These coverages may sound good when you first buy your policy, but your needs may have changed so eliminate the coverages to reduce your premium.
More than one policy can earn a discount – Some insurers provide discounts for people who buy several policies from them in the form of a multi-policy discount. Even if you qualify for this discount already, you still need to shop around to verify if the discount is saving money.
Getting married equates to better prices – Having a wife or husband can actually save you money on your car insurance policy. Marriage is viewed as being more mature and responsible and insurance companies reward insureds because being married results in fewer claims.
Prices are affected by your address – Living in a rural area has definite advantages when buying car insurance. Drivers in populated areas regularly have traffic congestion and higher rates of accident claims. Fewer drivers on the road translates into fewer accidents and lower theft and vandalism rates.
Vehicle features can affect premiums – Choosing to buy a car with anti-theft technology or alarm system can help bring down rates. Systems that thwart thieves like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping car theft and help bring rates down.
Subaru Outback insurance loss data – Car insurance companies use historical loss data when setting rates for each model. Vehicles that the data shows to have a trend towards higher claim severity or frequency will have increased rates.
The data below shows the historical loss data for Subaru Outback vehicles. For each policy coverage type, the statistical loss for all vehicles compiled together is considered to be 100. Percentage values below 100 imply a favorable loss record, while numbers above 100 indicate more frequent losses or tendency to have higher losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Subaru Outback 4WD||58||68||106||63||64||68|
|Subaru Outback with Eyesight 4WD||57||46||106||61||58||40|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Albuquerque car insurance company ratings
Buying coverage from the highest-rated insurance company can be difficult considering how many choices there are in Albuquerque. The information shown below may help you pick which insurers you want to consider comparing rates with.
Top 10 Albuquerque Car Insurance Companies Overall
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
- Mercury Insurance
Top 10 Albuquerque Car Insurance Companies Ranked by Customer Service
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
A conclusion for your car insurance search
Insureds leave their current company for a number of reasons such as high prices, poor customer service, questionable increases in premium and even denial of a claim. Regardless of your reason for switching companies, switching companies can be less work than you think.
Some companies may not have the ability to get quotes online and these regional carriers only sell through local independent agencies. Budget-friendly car insurance in Albuquerque can be purchased on the web and from local insurance agents, so you should compare both to have the best chance of lowering rates.
When shopping online for car insurance, never buy less coverage just to save a little money. There have been many situations where an accident victim reduced comprehensive coverage or liability limits and found out when filing a claim that the few dollars in savings costed them thousands. Your focus should be to get the best coverage possible for the lowest cost and still be able to protect your assets.
Steps to buying discount Subaru Outback insurance in Albuquerque
Really, the only way to get budget Subaru Outback insurance in Albuquerque is to compare prices annually from providers who provide auto insurance in New Mexico. Drivers can shop around by following these steps.
- Read about how car insurance works and the steps you can take to drop your rates. Many rating criteria that increase rates such as at-fault accidents and a poor credit score can be improved by making minor changes to your lifestyle.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from a single company like GEICO or Allstate, while independent agents can provide price quotes from multiple companies. Begin your rate comparison
- Compare the new quotes to your existing coverage and see if there is a cheaper rate in Albuquerque. If you find a better price and change companies, ensure there is no coverage lapse between policies.
- Tell your current agent or company to cancel the current policy and submit the application along with any required down payment to the new company. Once coverage is bound, safely store the proof of insurance paperwork in an easily accessible location.
The key thing to remember is to use the same coverage limits and deductibles on each quote and and to get price quotes from every company you can. This helps ensure an accurate price comparison and many rates to choose from.
For more information, link through to the resources below:
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- What Auto Insurance is Cheapest for Drivers with a Bad Driving Record in Albuquerque? (FAQ)
- Who Has Affordable Auto Insurance Rates for Good Drivers in Albuquerque? (FAQ)
- Who Has Cheap Car Insurance Quotes for Ride Shares in Albuquerque? (FAQ)
- Who Has the Cheapest Auto Insurance for a Jeep Wrangler in Albuquerque? (FAQ)
- Distracted Driving Extends Beyond Texting (State Farm)
- Coverage Information (Progressive Insurance)
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Top Signs Your Brakes are Giving Out (State Farm)