How to Save on Albuquerque Volkswagen Eos Insurance

If you are new to getting Albuquerque car insurance quotes online, it’s easy to get baffled thanks to all the different types of companies vying for business in Albuquerque.

A recent car insurance study revealed that almost 70% of insureds kept their policy with the same company for a minimum of four years, and roughly 40% of drivers have never compared quotes from other companies. Albuquerque drivers could pocket almost $470 a year just by shopping around, but most just don’t grasp the big savings they would realize if they just switched companies.

It’s a good habit to compare prices once or twice a year because prices trend upward over time. Even if you think you had the lowest price on Volkswagen Eos insurance in Albuquerque six months ago a different company probably has better rate quotes today. You can find a lot of misleading information regarding Eos insurance on the internet, but you can learn some proven techniques to buy car insurance cheaper in Albuquerque.

Our goal in writing this article let you in on the most effective ways to compare rates. If you already have coverage, you will definitely be able to reduce the price you pay using these tips. Although New Mexico car owners do need to understand how insurance companies charge you for coverage.

How You Can Control Volkswagen Eos Insurance Rates

Many different elements are used when you get a price on insurance. Some are pretty understandable like a motor vehicle report, but others are more obscure such as your marital status or your vehicle rating.

• Which gender costs less? – The statistics show that men are more aggressive behind the wheel. Now that doesn’t mean females are better drivers. Males and females tend to get into accidents in similar numbers, but the men have accidents that have higher claims. Not only that, but men also get higher numbers of serious violations like DUI and reckless driving. Young men ages 16 to 20 are several times more likely to be in an accident and therefore are the most expensive to insure.

  The diagram below shows the difference between Volkswagen Eos premium costs for male and female drivers. The information is based on no violations or accidents, comp and collision included, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

• Policy add-ons may not be needed – There are a lot of additional extra coverages that sound like a good idea at the time on your Eos policy. Insurance for things like vanishing deductibles, high-cost glass coverage, and additional equipment coverage are some examples. These coverages may sound good when you first buy your policy, but your needs may have changed so remove them and pocket the money.
• Combine home and auto and save – Lots of insurance companies will award discounts to policyholders that have more than one policy, otherwise known as a multi-policy discount. The amount of the discounts can be ten percent or more. Even if you already get this discount, it’s still a good idea to compare other Albuquerque Eos insurance rates to verify if the discount is saving money.
• Having a spouse is a bonus – Having a significant other may cut your premiums when buying insurance. Having a significant other generally demonstrates drivers are more responsible and it’s proven that being married results in fewer claims.

• Insurance losses for a Volkswagen Eos – Insurance companies factor in insurance loss information when determining insurance rates. Vehicles that tend to have a trend towards higher claim severity or frequency will have higher rates. The table below illustrates the historical insurance loss data for Volkswagen Eos vehicles.

  For each policy coverage, the statistical loss for all vehicles, regardless of make, model or trim level, equals 100. Numbers that are below 100 suggest a positive loss record, while numbers that are greater than 100 indicate frequent claims or tendency to have higher losses.

  
  

  Volkswagen Eos Insurance Loss Statistics

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Volkswagen Eos Convertible	88	77	78	76

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

Detailed insurance information

The information shown next outlines detailed analysis of insurance prices for Volkswagen Eos models. Learning a little about how insurance prices are figured is important to be able to make smart choices when purchasing an insurance policy.

Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Premium amounts do not factor in vehicle location which can raise or lower coverage rates substantially.

Physical damage deductibles

One frequently asked question is where should you set your physical damage deductibles. The figures shown below can help illustrate the cost difference of buying low and high insurance deductibles. The first set of rates uses a $100 deductible for comp and collision and the second rate table uses a $1,000 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Information does not factor in vehicle location which can impact price quotes greatly.

We can derive from the above data that using a $100 deductible costs about $37 more each month or $444 a year than requesting the higher $1,000 deductible. Because you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you have at a minimum 24 months between claim filings, you would probably come out ahead if you decide on a higher deductible.

The diagram below highlights how deductible selection and can impact Volkswagen Eos insurance costs for different age groups. The costs are based on a single male driver, full coverage, and no additional discounts are factored in.

How violations and accidents impact rates

The chart below demonstrates how speeding tickets and at-fault accidents can influence Volkswagen Eos car insurance rates for each age group. The price estimates are based on a single male driver, comp and collision included, $100 deductibles, and no discounts are applied.

Full coverage or liability only

The illustration below shows the comparison of Volkswagen Eos insurance prices with and without physical damage coverage. The price estimates are based on no claims or driving violations, $500 deductibles, marital status is single, and no policy discounts are applied.

When to drop comp and collision

There is no definitive guideline to stop buying comp and collision coverage, but there is a guideline you can use. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s assume your Volkswagen Eos replacement cost is $5,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $4,000 after the deductible is paid. If you are paying over $400 a year for full coverage, then you may need to consider dropping full coverage.

There are some scenarios where dropping full coverage is not recommended. If you still owe money on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Auto insurance rates and discounts

Companies offering auto insurance don’t always advertise every possible discount in an easy-to-find place, so below is a list some of the best known and the harder-to-find ways to save on auto insurance.

• Accident Free – Insureds who avoid accidents and claims pay much less when compared to policyholders that have many claims.
• Anti-lock Brakes – Vehicles equipped with ABS or steering control have fewer accidents and the ABS can save up to 10%.
• Discounts for Seat Belt Usage – Buckling up and requiring all passengers to use a seat belt may be able to save a few bucks on the premium charged for medical payments and/or PIP.
• Own a Home and Save – Owning a home in Albuquerque may earn you a small savings since home ownership shows financial diligence.
• Low Miles Discount – Fewer annual miles on your Volkswagen may enable drivers to earn lower premium rates on the low mileage vehicles.

Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to the overall cost of the policy. Some only apply to individual premiums such as liability, collision or medical payments. So when the math indicates adding up those discounts means a free policy, it’s just not the way it works.

The diagram below shows the difference between Volkswagen Eos annual premium costs with and without discounts applied. The information is based on a female driver, no claims, a clean driving record, New Mexico state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, homeowner, marriage, safe-driver, and multi-policy discounts applied.

A few of the larger companies and their offered discounts include:

• Farm Bureau offers discounts including multi-vehicle, good student, 55 and retired, youthful driver, renewal discount, and multi-policy.
• Liberty Mutual may include discounts for exclusive group savings, multi-policy, hybrid vehicle, safety features, newly retired, new move discount, and new graduate.
• State Farm may offer discounts for accident-free, good student, multiple autos, defensive driving training, and Steer Clear safe driver discount.
• Auto-Owners Insurance includes discounts for anti-lock brakes, group or association, safe driver, mature driver, and air bags.
• GEICO policyholders can earn discounts including multi-vehicle, driver training, five-year accident-free, anti-lock brakes, air bags, and daytime running lights.
• SAFECO discounts include bundle discounts, anti-lock brakes, multi-car, homeowner, and drive less.

Before buying, ask each company which discounts you qualify for. Some of the discounts discussed earlier might not be offered in Albuquerque. To find insurers that have a full spectrum of discounts in Albuquerque, click here.

Keep this in mind when shopping around

A few companies do not offer online quoting and most of the time these regional carriers work with local independent agents. Budget-conscious Volkswagen Eos insurance can be sourced on the web and from local insurance agents, so compare prices from both to have the best selection.

You just read many ways to get a better price on Volkswagen Eos insurance in Albuquerque. The key thing to remember is the more rate quotes you have, the more likely it is that you will get a better rate. You may even discover the best price on insurance is with a small mutual company. These companies may only write in your state and offer lower premium rates as compared to the big name companies such as Allstate, GEICO and Progressive.

Steps to finding low-cost rates for Volkswagen Eos insurance in Albuquerque

Truthfully, the best way to get more affordable Volkswagen Eos insurance in Albuquerque is to start doing an annual price comparison from insurers who sell auto insurance in New Mexico.

1. Spend some time learning about the coverage provided by your policy and the changes you can make to prevent expensive coverage. Many factors that result in higher prices such as traffic tickets, fender benders, and a less-than-favorable credit score can be controlled by making minor driving habit or lifestyle changes.
2. Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agencies can provide prices from multiple companies.
3. Compare the new rate quotes to the price on your current policy to see if you can save by switching companies. If you find better rates, ensure there is no coverage lapse between policies.

One tip to remember is to try to compare similar limits and deductibles on each quote request and and to get prices from as many different insurance providers as possible. This enables the most accurate price comparison and a complete price analysis.

Other information

• Child Safety Seats (Insurance Information Institute)
• Who Has Cheap Albuquerque Auto Insurance Quotes for a Nissan Versa? (FAQ)
• Who Has Affordable Car Insurance Quotes for a 20 Year Old Male in Albuquerque? (FAQ)
• What Insurance is Cheapest for a Hyundai Elantra in Albuquerque? (FAQ)
• Prom Night Tips for Teen Drivers (State Farm)
• Airbag FAQ (iihs.org)
• Collision Coverage (Liberty Mutual)