Finding dependable, low-cost auto insurance is difficult, and finding out which companies have the most affordable insurance rates for police officers calls for a little more work.
Each auto insurance company uses slightly different criteria to set policy rates, so to begin we’ll rank the insurance companies with the overall best prices in New Mexico. It’s a good idea to know that Albuquerque, NM insurance rates are determined by lots of factors that may substantially change the cost of a policy. This price fluctuation is why it is crucial to shop around with many companies to get affordable car insurance rates for police officers. Rates are impacted by many things and change dramatically, so the cheapest rate when you last compared rates may now be quite expensive.
Find the Cheapest Auto Insurance for Law Enforcement
|Rank||Company||Cost Per Year|
|4||Farm Bureau Mutual||$1,178|
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USAA has some of the cheapest car insurance rates in Albuquerque at around $677 each year. This is $891 less than the average price paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers also rank well as some of the most economical Albuquerque, NM auto insurance companies.
As illustrated above, if you are currently insured with Allied and switched to USAA, you may realize an annual premium reduction of around $271. Drivers with Safeco could save as much as $297 a year, and Farm Bureau Mutual policyholders might lower prices by up to $501 a year.
Understand that those prices are averaged across all types of insureds and vehicles and and are not calculated with a vehicle location for police officers. So the company that is best suited for you may not even be in the list above. That underscores the importance of why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.
One of the more important considerations that are looked at to determine the cost of insurance is where you live. Areas with more people or more claims are more likely to pay higher prices, whereas areas with less crime or weather claims have the luxury of cheap car insurance rates.
The illustration below ranks the priciest cities in New Mexico for police officers in which to purchase auto insurance. Albuquerque makes the list at #1 having an annual price of $1,431 for the average policyholder, which is approximately $119 per month.
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Prices are estimated as vehicle location can lower or raise insurance rates noticeably.
The vehicle model you are trying to insure is a large factor that determines whether or not you can buy affordable insurance for police officers. Vehicles with high performance engines, poor safety ratings, or a history of substantial liability claims will cost quite a bit more to insure than more modest models.
The list below presents insurance rates for a number of the most budget-friendly automobiles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$1,431|
|Honda Accord LX-P 4-Dr Sedan||$1,436|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,598|
|Honda CR-V LX 4WD||$1,617|
|Honda Civic DX 4-Dr Sedan||$1,660|
|Honda Odyssey EX W/Rear Entertainment||$1,667|
|Chevrolet Malibu Hybrid||$1,689|
|Ford Focus S 4-Dr Sedan||$1,816|
|Ford Explorer XLT 2WD||$1,819|
|Ford Fusion S 4-Dr Sedan||$1,851|
|Toyota RAV4 2WD||$1,857|
|Ford F-150 Lariat Super Cab 4WD||$1,889|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,897|
|Chevrolet Impala LT||$1,905|
|Toyota Camry LE||$1,911|
|Hyundai Elantra Blue 4-Dr Sedan||$1,918|
|Nissan Altima 2.5 S 2-Dr Coupe||$1,935|
|Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD||$1,937|
|Dodge Grand Caravan Crew||$1,945|
|Ford F-350 Super Cab Lariat Turbo Diesel 2WD||$1,970|
|Kia Optima LX||$1,980|
|Hyundai Sonata GLS 4-Dr Sedan||$1,986|
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Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Rates do not factor in specific location which can influence auto insurance rates considerably.
Looking at the numbers, we can infer that models like the Ford Escape, Honda Accord, and Toyota Prius are likely to be a few of the cheapest vehicles to insure for law enforcement personnel.
Picking the best auto insurance company is difficult considering how many different companies sell coverage in Albuquerque. The ranking data in the lists below may help you select which auto insurers to look at comparing prices from. These ratings are only made up of the largest auto insurers in America, so companies that only write business in New Mexico or surrounding areas are not factored into the list.
Top 10 Large Auto Insurance Providers in Albuquerque Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Titan Insurance – A+
- Progressive – A+
Top 10 Large Auto Insurance Providers in Albuquerque Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- Allstate – 88%
- 21st Century – 88%
- The General – 88%
The diagram below shows how choosing a deductible can change insurance costs when getting quotes for cheap insurance for police officers. The rates are based on a single female driver, full physical damage coverage, and no policy discounts are applied.
In the chart above, a 40-year-old driver could lower their policy premium by $256 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $388 by using a $1,000 deductible. Youthful drivers, such as the Age 20 example, can cut as much as $648 annually by choosing a higher deductible.
If you do raise deductibles, it is a good idea to have enough funds in savings to be able to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
The benefits of price comparisons
Albuquerque, NM insurance rates are influenced by many factors which can substantially change the price of coverage. Improving your credit score, increasing deductibles, or getting a reckless driving citation can produce rate changes that can now make some companies cheaper than before.
Not only may your situation change, but car insurance companies file new rates as often as every three months in order to offset underwriting gains or losses. Significantly higher claims may result in increased rates, while less frequent claims may cause cheaper Albuquerque car insurance rates.
The graph below demonstrates which company has the cheapest car insurance in Albuquerque, NM for a 45-year-old male driver with no prior claims, no tickets, and good financial standing. Based on his current risk profile, USAA may offer the best car insurance rates in Albuquerque at $885 each year. This is $683 less than the average rate paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers are also included in the top five cheapest Albuquerque, NM auto insurance companies.
Now we will pretend the driver in the first chart a chargeable claim, a lower credit rating, and a blemish on his driving record. Because each company uses their own method to determining premium rates, comparing rates could result in a completely different list of cheap Albuquerque auto insurance companies as shown below.
USAA now has the best auto insurance rate in Albuquerque with State Farm, The Hartford, Safeco, and Allied also being competitive. This example illustrates why it is so important to shop around with many companies when trying to find the cheapest car insurance quotes for police officers.
Auto insurance prices are calculated by many risk factors and can change without notice, so the most affordable company when you last compared rates may now be priced much higher than other options.