Finding affordable auto insurance for a Nissan Versa hinges on a lot of different factors such as age of the driver, your occupation, and citations on your driving record. New Mexico drivers will pay around $1,044 per year for Versa insurance, but that price is an approximation based upon a 40-year-old married female driver with full comprehensive and collision coverage and $100 deductibles.
When projecting a rate like this, the problem is that you’re not a 40-year-old female, you might be single instead of married, or you just prefer to insure for liability only. Having what appears to be a very minor change in policy rating criteria or coverages can make a big difference in how much coverage for a Nissan Versa costs.
Everyone has unique insurance needs, and this illustrates why the only way to find the cheapest insurance price for your Nissan is to put in the effort to do a thorough rate comparison. In just a couple of minutes you will receive price comparisons from top-rated companies in New Mexico.
The trim level of your Nissan tends to have a direct effect on price, so the cost to insure a Versa 1.6 SEDAN trim level will be $322 less than the price to insure the higher-end Versa 1.8 SL SEDAN model, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Versa 1.6 SEDAN||$178||$404||$338||$20||$102||$1,042||$87|
|Versa 1.8 S Hatchback||$208||$578||$338||$20||$102||$1,246||$104|
|Versa 1.8 S SEDAN||$208||$578||$338||$20||$102||$1,246||$104|
|Versa 1.8 SL Hatchback||$238||$666||$338||$20||$102||$1,364||$114|
|Versa 1.8 SL SEDAN||$238||$666||$338||$20||$102||$1,364||$114|
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Table data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Premium amounts do not factor in vehicle location which can change coverage rates substantially.
Ending up with the best insurance company can be a challenge considering how many choices you have in New Mexico. The information displayed below can help you select which auto insurance companies you want to consider purchasing coverage from.
The rankings below are only made up of companies who write in the majority of U.S. states, so companies without a large exposure will not be included in the list. If you’d like to compare prices and find the cheapest rates for a Nissan Versa, just click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Does it make sense to buy full coverage?
Saving money when shopping for car insurance is the goal of the majority of vehicle owners, and a great way to pay lower rates for insurance for a Nissan Versa is to not buy comprehensive and collision coverage. The chart below visualizes the comparison of premium costs with full coverage and liability only. The rates are based on no claims or driving citations, $100 deductibles, single status, and no other discounts are factored in.
If we average the cost for all age groups, full coverage on your policy costs $2,314 per year more than carrying just liability coverage. That amount may make you wonder if it’s a good idea to buy full coverage. There is no definitive guideline of when to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than about 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s say your vehicle’s book value is $10,500 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $9,500 after paying the physical damage deductible. If it’s costing you more than $950 annually for your policy with full coverage, the it may be a good time to stop paying for full coverage.
How to get discounts on Albuquerque insurance rates
Auto insurance companies that sell policies for a Nissan Versa may provide rate discounts that may potentially lower prices by 40% or more if you qualify for them. Companies and some of their more popular discounts include:
- State Farm includes discounts for multiple policy, good driver, driver’s education, student away at school, and good student.
- GEICO offers discounts including military active duty, defensive driver, multi-policy, emergency military deployment, membership and employees, air bags, and federal employee.
- Liberty Mutual has savings for multi-policy, teen driver discount, newly retired, newly married, new move discount, and preferred payment discount.
- The Hartford offers premium reductions for defensive driver, bundle, anti-theft, vehicle fuel type, air bag, and good student.
- MetLife has discounts for good student, multi-policy, good driver, claim-free, and defensive driver.
- Progressive may offer discounts for online signing, good student, continuous coverage, multi-policy, online quote discount, homeowner, and multi-vehicle.
The chart below compares auto insurance costs with and without some available policy discounts. The costs are based on a male driver, no accidents, no driving violations, New Mexico state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with accident-free, defensive driving course, homeowner, claim-free, marriage, and multiple policy discounts applied. When these discounts are applied, the average amount saved each year on car insurance for a Nissan Versa is 28% or $644.
How to find more affordable car insurance for a Nissan Versa
It is possible to find better rates, and here are many thrifty ideas that can help drivers quote low-cost coverage.
- Increase your physical damage deductibles
- Too many claims can make car insurance unaffordable
- Better credit rating means better rates
- Avoid accidents and claims
- Maintain a clean driving record
- Multi-policy discounts save money
- Keep rates low by shopping around frequently
The final tip is notably valuable, as was noted in the article above. Insurance rates can change in a short period of time, so drivers shouldn’t be reluctant to buy from a new company if a lower price can be found. We understand brand loyalty, but it’s not a good idea if it’s costing you a small fortune year after year. It takes less than five minutes to compare rates and find cheaper auto insurance for a Nissan Versa in Albuquerque.