The make and model of vehicle on the policy is a large consideration when shopping around for low-priced coverage for 18 year olds. Vehicles with lots of horsepower, poor safety ratings, or an increased likelihood of liability claims will cost significantly more to insure than safer models. The list below features insurance costs for a number of the cheaper automobiles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$4,518|
|Honda Accord LX 4-Dr Sedan||$4,523|
|Honda CR-V EX-L 4WD||$4,569|
|Ford F-150 XL Crew Cab 2WD||$5,062|
|Ford Explorer XLT 4WD||$5,069|
|Volkswagen Jetta SE 2.5 Station Wagon||$5,225|
|Ford Edge SEL 2WD||$5,316|
|Honda Odyssey EX||$5,322|
|Chevrolet Equinox LT AWD||$5,367|
|Ford Fusion S 4-Dr Sedan||$5,374|
|Toyota RAV4 Limited 4WD||$5,367|
|Toyota Tacoma Double Cab 4WD||$5,376|
|Chevrolet Impala LT||$5,367|
|Jeep Grand Cherokee Laredo 4WD||$5,372|
|Chevrolet Malibu LT||$5,415|
|Dodge Grand Caravan SXT||$5,425|
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Table data assumes single female driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, and safe-driver. Information does not factor in your specific Albuquerque, NM location which can raise or lower coverage prices noticeably.
Based upon the table data, you can assume that models like the Ford Escape, Honda Accord, and Honda CR-V should be a few of the cheapest vehicles to insure for teen drivers. Car insurance rates will be more expensive because of the fact that there is more claim risk for 18 year olds, but overall those makes and models will most likely have the cheapest car insurance rates compared to all other vehicles.
One of the more important considerations that are used to help calculate car insurance rates is where you keep your car in Albuquerque. More densely populated places tend to have more expensive auto insurance rates, whereas more rural areas have the gratification of cheaper auto insurance rates.
The following table ranks the priciest cities in New Mexico for 18 year olds in which to buy car insurance. Albuquerque is ranked at #1 with an annual cost of $1,417 for the average policy, which is approximately $118 per month.
|Rank||City||Average Per Year|
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Premium amounts are estimated as the specific zip code location can modify price quotes noticeably.
Establishing which company offers the best auto insurance rates for 18 year olds calls for a tad more effort than just picking a company at random.
Every insurance company uses their own method for determining prices, so we need to take a look at the auto insurance companies with the most affordable rates in Albuquerque. It’s important that readers know that Albuquerque, NM auto insurance rates are impacted by many factors that control the price you have to pay for coverage. Getting older, filing a claim, or getting into an accident can produce rate changes that can now make some companies much cheaper than others.
Compare Cheap Insurance Quotes for Teens
|Rank||Company||Cost Per Year|
|4||Farm Bureau Mutual||$1,166|
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USAA normally has some of the cheapest car insurance rates in Albuquerque at around $683 each year. This is $885 less than the average policy premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and State Farm also make the cut as some of the best Albuquerque, NM car insurance companies.
As the example above demonstrates, if you are insured with State Farm and switched to Allied, you could see an annual premium reduction of approximately $339. Insureds with The Hartford might save as much as $354 a year, and Central Mutual customers might lower prices by up to $356 a year.
These policy prices are averages across all types of insureds and vehicles and and are not figured with a vehicle location for 18 year olds. So the car insurance company that can offer you the lowest price may not even be in the top 17 companies in the list above. That underscores the importance of why you need to compare as many prices as possible using your own driver information and specific vehicle type.
Safe drivers pay less for auto insurance
In a perfect world, the best way to enjoy low auto insurance prices in New Mexico for teen drivers is to be a good driver and not have accidents or get tickets. The chart below illustrates how violations and fender-benders can drive up insurance rates for different age groups of insureds. The premiums assume a single male driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.
In the example above, the average cost of car insurance in New Mexico per year with a clean driving record and no accidents is $2,301. Factor in two speeding tickets and the average cost increases to $3,052, an increase of $751 each year. Then throw in one accident along with the two speeding tickets and the annual cost of auto insurance for 18 year olds jumps again to an average of $3,807. That’s an increase of $1,506, or $126 per month, just for not driving attentively!
Get discount Albuquerque insurance
Insurance providers that offer coverage for 18 year olds may provide policy discounts that can reduce rates by 30% or more if you can meet the requirements. A few popular companies and some of their more popular discounts are shown below.
- State Farm has discounts for multiple autos, driver’s education, Drive Safe & Save, safe vehicle, anti-theft, passive restraint, and accident-free.
- American Family policyholders can earn discounts including bundled insurance, good student, good driver, TimeAway discount, accident-free, mySafetyValet, and Steer into Savings.
- AAA offers discounts for anti-theft, multi-policy, multi-car, pay-in-full, AAA membership discount, and education and occupation.
- GEICO offers discounts including federal employee, membership and employees, daytime running lights, anti-lock brakes, and multi-policy.
- Mercury Insurance may include discounts for type of vehicle, good student, low natural disaster claims, multi-policy, good driver, and accident-free.
- Farmers Insurance offers premium reductions for distant student, multi-car, electronic funds transfer, good student, switch companies, and teen driver.
- Progressive may have discounts that include homeowner, multi-vehicle, good student, online signing, and multi-policy.
The information below illustrates the difference between yearly insurance costs with and without some available policy discounts. The rates are based on a female driver, no claims or driving citations, New Mexico state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with anti-theft, passive restraint, paperless filing, good student, paid-in-full, and vehicle safety discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on auto insurance for 18 year olds is 28% or $488.
How to find economical car insurance for 18 year olds
It is possible to find better rates, and here are some of the better money-saving ideas that can help you buy low-cost car insurance.
- Do not get into accidents
- Buy safe vehicles
- Improve your credit
- Raise comprehensive and collision coverage deductibles
- Save money by observing traffic laws and speed limits
- Shop around for cheaper prices often
That final tip is very necessary, as was emphasized in the prior information. Insurance rates fluctuate constantly, so don’t be tentative to switch to a new company if a cheaper price is available.
Many drivers prefer to stick with one company, but is isn’t recommended if that loyalty results in overpaying a wad of cash every year. In just a couple of minutes you could shop around and find cheaper insurance for 18 year olds in Albuquerque.
If you aren’t sure which coverage you need and prefer to have a professional recommendation when trying to find lower insurance rates for teen drivers, the professional agents shown below are a good start to provide answers to your questions and help you determine which is the best policy.
To find an agent nearest to you, click the button at the bottom.
Allstate Insurance: Larry Gaylord
3296 Coors Blvd NW d – Albuquerque, NM 87120 – (505) 836-4630
Judy Alba – State Farm Insurance Agent
2920 Carlisle NE, Bldg B – Albuquerque, NM 87110 – (505) 884-5121
Reggie Gallegos – State Farm Insurance Agent
2308 Eubank Blvd #B – Albuquerque, NM 87112 – (505) 298-8100