Smart shoppers know that insurance companies don’t want customers comparing rates. Consumers who get price quotes annually will presumably move their business because there is a good probability of finding good coverage at a lower price. A recent survey found that drivers who compared rate quotes regularly saved approximately $850 each year as compared to drivers who never shopped around.
If finding low prices for auto insurance in Albuquerque is your ultimate objective, understanding how to shop and compare auto insurance can make it simple to find affordable coverage.
Truthfully, the best way to get discount auto insurance rates in Albuquerque is to compare prices annually from insurance carriers that insure vehicles in New Mexico. Rates can be compared by following these steps.
Step 1: Get an understanding of how companies price auto insurance and the steps you can take to prevent high rates. Many risk factors that increase rates like inattentive driving and an unacceptable credit score can be amended by improving your driving habits or financial responsibility. Read the full article for ideas to get lower rates and find overlooked discounts.
Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can provide rates from a single company like GEICO or Allstate, while agents who are independent can provide price quotes from many different companies.
Step 3: Compare the quotes to your existing coverage to determine if switching companies saves money. If you can save money and decide to switch, verify that coverage does not lapse between policies.
A crucial key to this process is that you’ll want to make sure you compare the same amount of coverage on each price quote and and to compare as many auto insurance providers as possible. Doing this provides a level playing field and a better comparison of the market.
How Your HHR Insurance Premiums are Determined
An important part of buying insurance is that you know some of the things that aid in calculating the rates you pay for car insurance. If you know what positively or negatively impacts your premiums, this enables informed choices that could result in much lower annual insurance costs. Many different elements are considered when premium rates are determined. A few of the factors are predictable such as your driving history, but other criteria are more obscure like where you live and annual miles driven.
Shown below are a few of the things that factor into your premiums.
Men drivers tend to cost more – Statistics have proven that women are safer drivers than men. This data doesn’t prove that males are worse at driving than females. Women and men are in accidents in similar percentages, but guys have accidents that have higher claims. Men also statistically get more serious tickets such as driving while intoxicated (DWI) or driving recklessly. Male teenagers have the highest risk to insure and therefore are the most expensive to insure.
The example below illustrates the comparison of Chevy HHR annual premium costs for male and female drivers. The data is based on no accidents, no driving violations, full coverage, $1,000 deductibles, single status, and no additional discounts are factored in.
Keep prices low by being claim-free – Car insurance companies in New Mexico award discounts to insureds who do not rely on their insurance for small claims. If you’re an insured who likes to file claims you can look forward to higher rates. Insurance coverage is intended for more catastrophic claims.
Liability claims can be big – The liability section of your policy provides coverage when you are determined to be liable for causing damage or personal injury in an accident. Liability insurance provides you with a defense in court to defend your case. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
Lower rates for married couples – Having a spouse actually saves money on car insurance. Having a spouse means you’re more stable financially and statistics show drivers who are married are more cautious.
Age of drivers – Older drivers are more cautious drivers, are lower risk to insure, and are generally more financially stable. Teen drivers have a tendency to be careless and easily distracted behind the wheel so car insurance rates are higher.
The following data is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.
To find the best car insurance prices, there are several ways to compare quotes from companies that offer car insurance in New Mexico. The fastest way to comparison shop is to perform an online rate comparison.
Doing online rates comparisons is so easy that it takes the place of having to drive around to different agent offices. The internet eliminates this option unless you have a need for the trained guidance of a local agent. If you prefer, some companies allow you to comparison shop online but purchase the actual policy in an agency. Keep in mind that comparing a wide range of rates helps you find a lower rate. Not every company provides Albuquerque HHR insurance quotes over the internet, so it’s necessary to compare quotes from the smaller companies as well.
The companies in the list below can provide price comparisons in New Mexico. To find the best auto insurance in New Mexico, we recommend you compare several of them in order to find the most affordable rates.
Facts and figures for Chevy HHR insurance
The rate information shown below outlines different policy rates for Chevy HHR models. Understanding more about how insurance quotes are established is important to be able to make decisions on which coverage to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Estimates do not factor in specific Albuquerque garaging location which can affect price quotes considerably.
Cost difference between full coverage and liability
The diagram below shows the comparison of Chevy HHR yearly insurance costs with full coverage compared to only the New Mexico minimum liability coverage. The costs are based on no violations or accidents, $100 deductibles, single status, and no discounts are factored in.
When to drop full coverage
There is no definitive guideline to drop full coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your Chevy HHR replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $5,000 after paying your policy deductible. If you are paying more than $500 a year for full coverage, the it may be a good time to stop paying for full coverage.
There are some conditions where only buying liability is not in your best interest. If you still have a lienholder on your title, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not buy liability only.
Insuring your vehicle just makes sense
Despite the high cost of buying insurance for a Chevy HHR in Albuquerque, maintaining insurance serves an important purpose.
- Almost all states have minimum mandated liability insurance limits which means state laws require a specific level of liability coverage if you want to drive legally. In New Mexico these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your vehicle with a loan, almost every bank will force you to buy insurance to guarantee their interest in the vehicle. If the policy lapses, the lender will be forced to insure your Chevy at a much higher rate and require you to reimburse them the higher premium.
- Insurance preserves both your vehicle and your assets. Insurance will also pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers legal expenses if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of having insurance are without a doubt worth the cost, specifically if you ever have a liability claim. The average driver in America is overpaying over $865 each year so compare rate quotes at every renewal to save money.
Save money on Chevy HHR insurance in Albuquerque with these discounts
Insuring your vehicles can cost a lot, but there’s a good chance there are discounts to help offset the cost. Larger premium reductions will be automatically applied when you purchase, but some discounts are required to be specifically requested prior to receiving the credit. If you are not receiving all the discounts you deserve, you are just wasting money.
- Onboard Data Collection – Albuquerque drivers who agree to allow companies to track when and where they use their vehicle by installing a telematics device like In-Drive from State Farm and Progressive’s Snapshot might see lower rates as long as the data is positive.
- Good Driver Discounts – Accident-free drivers can get discounts for up to 45% lower rates than drivers with accident claims.
- College Student Discount – Older children who live away from home to go to college and do not have a car could get you a discount.
- Accident Forgiveness – This one isn’t a discount, but companies like GEICO, Allstate and Liberty Mutual permit an accident without the usual rate increase if you have no claims for a particular time prior to the accident.
- Multiple Cars – Drivers who insure multiple cars on one policy can get a discount for every vehicle.
- Discounts for Federal Employees – Having worked for a branch of the government may qualify for a discount when you quote Albuquerque car insurance depending on your car insurance provider.
- Student Driver Training – Cut your cost by having your teen driver complete a driver education course as it can save substantially.
- E-sign Discounts – A handful of insurance companies provide a small discount for completing your application online.
- Passive Restraint Discount – Cars that have air bags and/or automatic seat belt systems can receive discounts of 25 to 30%.
- Good Student Discount – Excelling in school may save as much as 25% on a Albuquerque car insurance quote. The good student discount can last well after school through age 25.
Don’t be surprised that most discount credits are not given to the overall cost of the policy. The majority will only reduce specific coverage prices like collision or personal injury protection. Even though it appears having all the discounts means you get insurance for free, you aren’t that lucky. Any amount of discount will cut your policy premium.
The diagram below shows the difference between Chevy HHR insurance rates with and without discounts applied. The prices are based on a male driver, no claims, a clean driving record, New Mexico state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, claim-free, multi-policy, homeowner, and marriage discounts applied.
Some of the insurance companies that may offer quotes with these money-saving discounts may include but are not limited to:
If you want inexpensive Albuquerque car insurance quotes, ask each insurance company how many discounts you can get. Savings may not apply to policyholders everywhere. To see insurance companies who offer discounts in Albuquerque, follow this link.
Compare prices but work with a local neighborhood Albuquerque car insurance agent
A small number of people just want to get advice from a local agent and that can be a smart move One of the great benefits of comparing rates online is the fact that drivers can get cheaper prices and still choose a local agent.
After completing this simple form, your insurance coverage information is submitted to agents in your area that can provide free Albuquerque car insurance quotes and help you find cheaper coverage. There is no need to drive around due to the fact that quote results will go instantly to you. You can find the lowest rates and an insurance agent to talk to. If for some reason you want to get a price quote from a particular provider, don’t hesitate to go to their quote page and fill out the quote form the provide.
Picking a provider shouldn’t rely on just the bottom line cost. These are some questions your agent should answer.
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Do they have a Better Business Bureau rating in Albuquerque?
- How often do they review coverages?
- Are they involved in claim handling?
- Is there a Errors and Omissions policy in force?
- Will the company cover a rental car if your car is getting fixed?
- What company holds the largest book of business for them?
- Are they able to influence company decisions when a claim is filed?
When researching a good insurance agency, it’s important to understand the different agency structures and how they operate. Agents in Albuquerque can either be independent agents or exclusive agents.
Exclusive agents can usually just insure with one company such as AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agents cannot compare rates from other companies so they are skilled at selling on more than just price. Exclusive agents are very knowledgeable on the products they sell which helps them sell on service rather than price.
The following are Albuquerque exclusive insurance agents willing to provide price quote information.
Beth Wells – State Farm Insurance Agent
7400 Montgomery Blvd NE #5 – Albuquerque, NM 87109 – (505) 883-3742 – View Map
Allstate Insurance: Eladio Muniz
1028 Eubank Blvd – Albuquerque, NM 87112 – (505) 291-0624 – View Map
Mike Volk – State Farm Insurance Agent
3716 Central Ave SE – Albuquerque, NM 87108 – (505) 232-2886 – View Map
Independent Car Insurance Agents
Agents that elect to be independent are not employed by any specific company so they have the ability to put coverage with any number of different companies and get you the best rates possible. If your premiums go up, they simply move the coverage in-house and you won’t have to switch agencies.
If you need lower rates, you definitely need to compare prices from a couple of independent agencies for maximum quote selection.
Below is a list of independent insurance agencies in Albuquerque willing to provide comparison quotes.
Free Market Insurance Agency
6211 San Mateo Blvd NE #120 – Albuquerque, NM 87109 – (505) 881-2645 – View Map
Webster Insurance Agency Inc
1201 Eubank Blvd Suite 3 – Albuquerque, NM 87112 – (505) 294-1497 – View Map
6101 Moon St NE #1000 – Albuquerque, NM 87111 – (505) 822-8114 – View Map
If you get reasonable responses to any questions you may have as well as an affordable premium quote, most likely you have located an insurance agent that is reliable enough to adequately provide car insurance. Keep in mind consumers can cancel your coverage whenever you want so don’t assume you’re contractually obligated to a specific agent with no way out.
Different people need different auto insurance coverages
When quoting and comparing insurance from an agent or online for your personal vehicles, there is no single plan that fits everyone. Your needs are unique to you.
For instance, these questions may help you determine whether or not you would benefit from professional advice.
- What is covered by UM/UIM coverage?
- Do I pay less if my vehicle is kept in my garage?
- Will I lose any money if I cancel my policy before it expires?
- Should I rate my Chevy HHR as pleasure use or commute?
- I have health insurance so do I need medical payments coverage?
- How can I get high-risk coverage after a DUI?
- Can I make deliveries for my home business?
- Who does medical payments coverage extend to?
- Should I carry comprehensive and collision coverage?
- What if I owe more than I can insure my car for?
If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, complete this form.
The best insurance company isn’t always the cheapest
When trying to cut insurance costs, it’s very important that you do not buy lower coverage limits just to save a few bucks. There have been many cases where an insured cut collision coverage and learned later that it was a big mistake. The ultimate goal is to find the BEST coverage at the best possible price, but do not skimp to save money.
Consumers leave their current company for a variety of reasons including questionable increases in premium, high rates after DUI convictions, poor customer service or policy non-renewal. Regardless of your reason for switching companies, finding a great new company can be easy and end up saving you some money.
Cheaper auto insurance in Albuquerque can be sourced from both online companies as well as from insurance agents, so you should compare both to have the best selection. Some auto insurance companies may not have internet price quotes and most of the time these smaller companies sell through independent agencies.
- Get the Right Protection (InsureUonline.org)
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- State Car Insurance Guides (GEICO)
- Red Light Cameras (State Farm)
- Rental Reimbursement Coverage (Allstate)