Who Has Cheap Albuquerque Auto Insurance for Uber Drivers?

The type of vehicle you are seeking coverage for is one of the largest factors when consumers are trying to find the best insurance for Uber drivers. Vehicles with economical engines, a great safety record, or a low likelihood of liability claims will cost much less to insure than higher performance models.

The information below estimates insurance rates for a selection of the cheaper vehicles to buy coverage for.

Cheapest Vehicles to Insure in Albuquerque, NM
Vehicle Make and Model Estimated Cost for Full Coverage
Honda CR-V LX 4WD $1,537
Jeep Wrangler Sport Islander Package 4WD 2-Dr $1,540
Toyota Prius $1,553
Toyota Tacoma 4WD $1,572
Ford Escape XLS 2WD $1,582
Honda Accord LX-P 4-Dr Sedan $1,587
Ford Focus SE 4-Dr Sedan $1,628
Chevrolet Malibu LS $1,660
Chevrolet Equinox LS 2WD $1,668
Ford Explorer Eddie Bauer 2WD $1,719
Dodge Grand Caravan SE $1,725
Honda Odyssey EX-L W/Rear Entertainment $1,751
Toyota Corolla XLE $1,756
Chevrolet Silverado LT Regular Cab $1,780
Toyota RAV4 Sport 4WD $1,817
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Price information does not factor in your specific Albuquerque, NM location which can lower or raise insurance rates considerably.

Based upon these rates, you can see that models like the Honda CR-V, Jeep Wrangler, and Toyota Prius should be some of the cheapest vehicles to insure for Uber vehicles.

For Uber vehicles, one of the largest considerations that aid in calculating auto insurance rates is where your car is garaged in Albuquerque. Areas with a lot of weather claims or more people tend to have higher auto insurance costs, whereas areas that tend to be more rural profit from lower rates.

The following table shows the most expensive areas in New Mexico for Uber drivers to buy an auto insurance policy in. Albuquerque shows up at #2 having an annual price of $1,389 for the average policy, which is about $116 per month.

How much is car insurance in Albuquerque?
Rank City Annual Premium
1 South Valley $1,390
2 Albuquerque $1,389
3 Santa Fe $1,342
4 North Valley $1,316
5 Artesia $1,291
6 Espanola $1,273
7 Los Lunas $1,263
8 Hobbs $1,258
9 Los Alamos $1,256
10 Rio Rancho $1,256
11 Roswell $1,210
12 Gallup $1,188
13 Carlsbad $1,177
14 Clovis $1,169
15 Lovington $1,159
16 Las Vegas $1,149
17 Farmington $1,148
18 Portales $1,140
19 Las Cruces $1,131
20 Deming $1,121
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Premium costs are estimated as specific Albuquerque garaging address can impact premiums significantly.

Full coverage versus liability only rates

Finding cheaper car insurance is probably important to the majority of people, and one great way to find cheaper insurance for Uber drivers is to not buy full coverage. The diagram below illustrates the difference between insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in New Mexico. The premium estimates are based on no violations or claims, $500 deductibles, single marital status, and no discounts are applied.

If all age groups are averaged, physical damage coverage on your policy costs $1,521 per year more than just buying liability insurance. That raises the question if you should buy full coverage at all. There isn’t a steadfast formula that works best for making the decision to drop comp and collision coverage, but there is a general convention. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.

The example below highlights how deductible selection can impact insurance costs when getting quotes for cheap insurance for Uber drivers. The prices are based on a married female driver, full physical damage coverage, and no discounts are applied.

A 30-year-old driver could cut expenses by $356 a year by increasing from a $100 deductible up to a $500 deductible, or save $536 by using a $1,000 deductible. Even younger drivers, like the 20-year-old category, could possibly save as much as $762 or more by choosing a larger deductible amount. If you do raise deductibles, it is a good idea to have enough spare savings to be able to cover the extra out-of-pocket expense that comes with higher deductibles.

Selecting the highest-rated company can be difficult considering how many different insurance companies sell coverage in Albuquerque. The rank data listed below could help you choose which car insurance providers you want to consider comparing rates from.

These rankings are only comprised of large insurance companies, so companies that focus mainly on New Mexico business are not taken into consideration for this list. To compare prices and find the cheapest rates for Uber drivers, follow this link.

Best 15 Car Insurance Companies for Uber Drivers in Albuquerque
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Titan Insurance 90 87 91 95% A+ 89.6
Progressive 84 91 93 87% A+ 89.5
Allstate 85 90 92 88% A+ 89.3
Nationwide 87 88 84 90% A+ 88.7
Liberty Mutual 84 87 93 88% A 88.5
21st Century 85 86 87 88% A 86.7
Esurance 85 80 95 87% A+ 85.9
Safeco 85 85 85 86% A 85.8
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Data Source: Insure.com Best Car Insurance Companies