The vehicle requiring insurance is a large factor that determines whether or not you can buy the most economical auto insurance for 20 year old women. Vehicles with lower acceleration and performance, an excellent safety record, or a low likelihood of having liability claims will cost significantly less to insure than higher performance models.
The list below presents coverage prices for the more affordable vehicles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $3,101 |
| Honda Accord LX-P 4-Dr Sedan | $3,107 |
| Honda CR-V EX-L 4WD | $3,147 |
| Hyundai Elantra SE Touring Station Wagon | $3,347 |
| Toyota Prius | $3,392 |
| Ford Edge SE 2WD | $3,433 |
| Toyota Tacoma 4WD | $3,479 |
| Dodge Grand Caravan SE | $3,487 |
| Toyota RAV4 Limited 4WD | $3,678 |
| Chevrolet Equinox LS AWD | $3,686 |
| GMC Sierra SL Extended Cab 2WD | $3,678 |
| Ford F-150 Lariat Super Cab 4WD | $3,724 |
| Ford Explorer Limited 4WD | $3,730 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $3,829 |
| Ford Focus SES 4-Dr Sedan | $3,832 |
| Toyota Corolla S | $3,877 |
| Toyota Camry SE | $3,884 |
| Chevrolet Impala LTZ | $3,877 |
| Honda Odyssey EX-L W/Navigation | $3,883 |
| Chevrolet Silverado LS Crew Cab 4WD | $3,923 |
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Data variables include single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in specific location information which can revise rates considerably.
Based upon the rates shown, vehicles like the Ford Escape, Honda Accord, Honda CR-V, and Hyundai Elantra will be the cheaper vehicles to insure for young women. The cost of auto insurance will be more expensive just because there is more inherent risk for 20 year old women, but in general those particular vehicles will most likely have the cheapest auto insurance rates that you are likely to find.
For young women, one of the largest things that determine the amount you pay each year for auto insurance is where you live in Albuquerque. Cities with more crime and/or more people will most likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.
The information below shows the highest-priced areas in New Mexico for 20 year old women to purchase auto insurance in. Albuquerque comes in at #2 with an annual rate of $1,375 for the average policyholder, which is about $115 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | South Valley | $1,377 |
| 2 | Albuquerque | $1,375 |
| 3 | Santa Fe | $1,342 |
| 4 | Los Lunas | $1,302 |
| 5 | Rio Rancho | $1,294 |
| 6 | Artesia | $1,291 |
| 7 | North Valley | $1,290 |
| 8 | Hobbs | $1,284 |
| 9 | Espanola | $1,273 |
| 10 | Los Alamos | $1,256 |
| 11 | Roswell | $1,222 |
| 12 | Gallup | $1,212 |
| 13 | Carlsbad | $1,201 |
| 14 | Las Vegas | $1,184 |
| 15 | Farmington | $1,183 |
| 16 | Lovington | $1,171 |
| 17 | Clovis | $1,169 |
| 18 | Portales | $1,151 |
| 19 | Las Cruces | $1,131 |
| 20 | Deming | $1,109 |
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Premium costs are comparative as the specific Albuquerque residence address can change insurance rates greatly.
Impact of violations and accidents on rates
The recommended way to score the cheapest car insurance rates in New Mexico for young women is to be a safe driver and maintain a clean driving record. The diagram below shows how traffic citations and at-fault fender-benders impact car insurance costs for different age groups of insureds. The rates are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
In the previous chart, the average cost of car insurance in New Mexico per year with no violations or accidents is $1,849. Get one speeding ticket and the average cost hikes up to $2,081, an increase of $232 each year. Now throw in two accidents along with the one speeding ticket and the yearly cost of car insurance for 20 year old women increases to an average of $4,036. That’s an increase of $2,187, or $182 per month, just for not driving responsibly!
How to get discounts on Albuquerque insurance
Auto insurance companies that provide policies for 20 year old women may also offer rate discounts that could lower prices by as much as 25% or more if you meet eligibility requirements. Popular car insurance companies and some of the discounts can be found below.
- State Farm may include discounts for driver’s education, multiple autos, Steer Clear safe driver discount, accident-free, Drive Safe & Save, and passive restraint.
- Nationwide includes discounts for family plan, accident-free, easy pay, good student, Farm Bureau membership, anti-theft, and multi-policy.
- GEICO offers premium reductions for daytime running lights, membership and employees, federal employee, air bags, and five-year accident-free.
- AAA may have discounts that include pay-in-full, education and occupation, good driver, AAA membership discount, good student, multi-policy, and multi-car.
- 21st Century offers discounts for student driver, driver training, automatic seat belts, defensive driver, air bags, anti-lock brakes, and homeowners.
- The Hartford offers discounts including defensive driver, good student, bundle, driver training, anti-theft, air bag, and vehicle fuel type.
The chart below shows the difference between insurance premiums with and without some available policy discounts. The information is based on a female driver, no violations or accidents, New Mexico state minimum liability limits, full coverage, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with good student, paid-in-full, continuous coverage, anti-theft, passive restraint, and vehicle safety discounts applied. When drivers qualify for the discounts, theaverage amount saved on car insurance for 20 year old women is 21% or $307.
Don’t stick with an overpriced policy
New Mexico car insurance rates are determined by lots of factors that control the policy price. Turning one year older, becoming a homeowner, or getting a speeding ticket may cause policy rate changes that can now make some companies more affordable than others.
Additionally, auto insurance companies file new New Mexico auto insurance rates multiple times each year to adjust for heavy claims or excess profits. An unexpected high level of claims can result in rate hikes, while a better claims history may result in more affordable Albuquerque car insurance rates.
As an example, the graph below shows rates for the cheapest car insurance in Albuquerque, NM for a 30-year-old male driver with no accidents or violations, and great credit. When comparing rates based on his personal risk profile, USAA offers the lowest car insurance rates in Albuquerque at $912 annually. This is $656 less than the average rate paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers are also on the list of the most affordable Albuquerque, NM auto insurance companies.
Now we will pretend the driver from above an at-fault accident, slightly worse credit, and a blemish on his driving record. Since each auto insurance company has their own guidelines for determining prices, analyzing rates most likely will result in a new list of the cheapest companies as shown below.
USAA now has the cheapest price in Albuquerque, NM with Safeco, State Farm, The Hartford, and Allied now rounding out the top five. This illustrates why drivers need to compare many different companies when trying to get cheap insurance quotes for 20 year old women.
Insurance prices are determined by many factors and change dramatically, so the best price the last time you shopped around may now not even be in the top five.
Tips for finding the cheapest insurance for 20 year old women
It’s not impossible to find cheaper rates, and here are many thrifty ideas that can help New Mexico drivers buy low-cost coverage.
- Save money by observing traffic laws and speed limits
- At-fault accidents can raise rates significantly
- Increase your policy deductibles
- On older vehicles, drop full coverage
- Try to remain claim-free
- Shop around for lower rates once a year
The last tip in the list is extremely valuable, as was affirmed in this piece. Coverage prices fluctuate constantly, so drivers shouldn’t be resistant to change to a new company if you can find a cheaper rate.
Being loyal to a particular company is commendable, but it isn’t a good idea if that stubbornness costs you money that could be spent on other things. It only take a few minutes to shop around and find cheaper car insurance for 20 year old women in Albuquerque.
The professional agents shown below can help you determine which policy is best, as some drivers have questions and prefer to get some professional advice when buying car insurance for young women. It can be hard to do it yourself, and a licensed agent can bring comfort knowing you have adequate asset protection. To locate an agency by location nearest to you, click the button following the list or click here to get price quotes now.
- Jesse Dompreh – State Farm Insurance Agent
5850 Eubank NE, Ste B34 – Albuquerque, NM 87111 – (505) 294-4422 - Derek Sanchez – State Farm Insurance Agent
725 San Mateo Blvd NE – Albuquerque, NM 87108 – (505) 292-3984 - Ronna Todd – State Farm Insurance Agent
4830 Juan Tabo Blvd NE e – Albuquerque, NM 87111 – (505) 293-3303 - Rick Buckner – State Farm Insurance Agent
9601 Sage Rd SW d – Albuquerque, NM 87121 – (505) 833-9596 - Commercial West Insurance
2616 Mesilla St NE #2 – Albuquerque, NM 87110 – (505) 255-9577