Who Has the Cheapest Albuquerque Car Insurance for a Ford Explorer?

Buying competitive auto insurance for a Ford Explorer in New Mexico relies on a fairly complex equation with a lot of factors such as how many years you have been driving, whether or not you have prior claims, and if you have a history of accidents. New Mexico drivers will pay on average $1,134 a year for Explorer insurance, but that is based on a 40-year-old single female driver with both comprehensive and collision coverage and $250 deductibles.

More likely than not, you are not 40 years old and maybe not even female, you might be married instead of single, or maybe you rent instead of own your home. Even a minor change in the criteria used to calculate rates could end up in a significant change in the cost of a policy.

Car insurance coverage is unique to each driver, so this is why the only real way to find the most affordable coverage for your Ford is to compare rates from as many companies as possible.

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The trim level of your Ford will influence price, so the price you will pay to insure a Explorer XLT 2WD model will be $116 cheaper than the insurance cost for the fancier Explorer Limited AWD version, as shown below.

Ford Explorer Insurance Rates in Albuquerque, NM
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Explorer XLT 2WD $238 $390 $418 $24 $126 $1,196 $100
Explorer Eddie Bauer 2WD $238 $390 $418 $24 $126 $1,196 $100
Explorer XLT 4WD $238 $390 $418 $24 $126 $1,196 $100
Explorer XLT AWD $238 $390 $418 $24 $126 $1,196 $100
Explorer Eddie Bauer 4WD $270 $474 $418 $24 $126 $1,312 $109
Explorer Eddie Bauer AWD $270 $474 $418 $24 $126 $1,312 $109
Explorer Limited 2WD $270 $474 $418 $24 $126 $1,312 $109
Explorer Limited 4WD $270 $474 $418 $24 $126 $1,312 $109
Explorer Limited AWD $270 $474 $418 $24 $126 $1,312 $109
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Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Rate information does not factor in specific Albuquerque garaging location which can revise premiums noticeably.

Deciphering which company quotes the most affordable insurance rates for a Ford Explorer will involve a little more work in order to find coverage that fits your budget. Every insurance provider has a proprietary formula to set their prices, so let’s take a look at the insurance companies with the overall cheapest rates in Albuquerque.

Best Car Insurance Prices for Your Explorer

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Cheapest New Mexico car insurance ranked by price
Rank Company Cost Per Year
1 USAA $677
2 Allied $930
3 Safeco $1,004
4 Farm Bureau Mutual $1,202
5 Farmers $1,302
6 State Farm $1,336
7 The Hartford $1,352
8 Central Mutual $1,368
9 Travelers $1,522
10 Progressive $1,535
11 California Casualty $1,591
12 GEICO $1,624
13 MetLife $1,642
14 Encompass $1,711
15 Allstate $2,385
16 Liberty Mutual $2,479
17 Sentry $3,114
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USAA generally has some of the most affordable car insurance rates in Albuquerque at around $677 a year. This is $891 less than the average premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers also rank well as some of the more affordable Albuquerque, NM car insurance companies.

As shown in the rates above, if you currently have coverage with Safeco and switched to USAA, you might realize an annual premium reduction of in the vicinity of $327. Insureds with Farm Bureau Mutual may save as much as $525 a year, and Farmers policyholders might see rate reductions of $625 a year.

These policy prices are averages across all types of drivers and the different vehicles they drive and and are not calculated with an exact vehicle garaging location for a Ford Explorer. So the company that can offer you the lowest price may not even be in the top 17 companies in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own driver and vehicle profiles.

The diagram below highlights how deductible selection can increase or decrease annual premium costs when trying to find cheap insurance for a Ford Explorer. The data assumes a single male driver, comp and collision included, and no policy discounts are applied.

The chart above illustrates that a 40-year-old driver could lower their policy premium by $328 a year by switching from a $100 deductible up to a $500 deductible, or save $494 by using a $1,000 deductible. Even younger insureds, like the Age 20 category, could save as much as $1,070 or more just by choosing higher deductibles when buying full coverage.

If you do decide to increase your deductibles, it will be required to have plenty of savings on hand to cover the extra out-of-pocket expense that comes with higher deductibles.

Impact of violations and accidents on rates

In a perfect world, the best way to enjoy the cheapest insurance prices for an Explorer is to drive safe and avoid tickets and accidents. The chart below highlights how speeding tickets and at-fault claims can impact insurance premiums for different age categories. The rates are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.

The data charted above shows the average cost of car insurance in Albuquerque per year with no accidents or violations is $1,868. Factor in two speeding tickets and the average cost swells to $2,471, an increase of $602 each year. Then throw in two accidents along with the two speeding tickets and the 12-month cost of insurance for a Ford Explorer goes up to an average of $4,747. That’s an increase of $2,879, or $240 per month, just for not driving carefully!

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New Mexico insurance rates are calculated based on many things which can substantially change the cost of a policy. Improving your credit score, moving across town, or having a fender bender can produce rate changes resulting in some rates now being more affordable than competitors. Not only that, but insurance companies change premium rates at least once a year to adjust for unexpected claims or profits. A period of higher than normal claims may result in increased policy costs, while a profitable period may result in lower-cost Explorer insurance rates.

As an example, the data below shows the companies that have the cheapest car insurance in Albuquerque, NM for a 40-year-old male driver with a good driving record, no prior claims, and great credit. Based on his current risk factors, USAA may offer the lowest car insurance rates in Albuquerque at $894 a year. This is $674 less than the average price paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and State Farm are the rest of the cheapest Albuquerque, NM auto insurance companies.

In this example, we will give the driver from the first set of rates an accident claim, a lower credit rating, and an imperfect driving record. Since every car insurance company has their own process for determining rates in each state, comparing prices may now show a different set of the cheapest car insurance companies in Albuquerque as shown below.

USAA now has the cheapest auto insurance in Albuquerque with Allied, Central Mutual, The Hartford, and Safeco now being in the top five. This example demonstrates why New Mexico drivers need to spend some time comparing rates when trying to get the most affordable auto insurance quotes for a Ford Explorer.

Rates are calculated by many factors and change substantially, so the most economical company the last time you checked may now be quite expensive.

How to find low-cost car insurance for a Ford Explorer

Here are some of the recommended money-saving ideas that can help Albuquerque drivers quote cheap car insurance.

The last tip in the list is especially crucial, as we stressed in the article above. Prices fluctuate constantly, so don’t be unwilling to buy from a different company if a lower price can be found. Being loyal to a particular company is commendable, but is isn’t recommended if that devotion results in you overpaying several hundred dollars every year. Spend a few minutes and compare prices to find cheaper insurance for a Ford Explorer in Albuquerque.

The Albuquerque, NM, insurance agents below can provide answers to your questions and help you determine which insurance coverage you need, since some drivers aren’t sure which coverage they need and prefer to have some professional guidance when trying to find the best insurance rates for a Ford Explorer. It can be difficult to find the cheapest rates, and professional agents can give you comfort knowing your policy gives you suitable coverage if you ever need to use it.

To locate an agency close to you, click the link after the list or click here to compare rates now.

Rosendo Aragon – State Farm Insurance Agent
1808 Lomas Blvd NW bAlbuquerque, NM 87104(505) 247-2921

Sam Sample – State Farm Insurance Agent
3700 Osuna Rd NE #514Albuquerque, NM 87109(505) 341-1000

Chavez Geissler Agency – Farmers Insurance
3517 Wyoming Blvd NEAlbuquerque, NM 87111(505) 271-2222

Paul Whitson – State Farm Insurance Agent
8300 Carmel Ave NE #502Albuquerque, NM 87122(505) 888-1991

Find an Albuquerque, NM insurance agent near you