The car, truck, or SUV driven is a significant factor when looking for the best car insurance for handicapped drivers. Vehicles with lots of horsepower, poor passenger safety features, or a track record of large liability claims will cost more to insure than safer models. The list below outlines coverage prices for a number of the cheapest automobiles to insure in New Mexico.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$1,644|
|Toyota Tacoma 2WD||$1,663|
|Honda Civic DX 4-Dr Sedan||$1,673|
|Honda CR-V EX 4WD||$1,680|
|Chevrolet Equinox LT AWD||$1,696|
|Toyota Camry LE||$1,705|
|Dodge Grand Caravan SXT||$1,729|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$1,756|
|Hyundai Elantra SE 4-Dr Sedan||$1,786|
|Honda Odyssey LX||$1,805|
|Volkswagen Jetta SE 4-Dr Sedan||$1,818|
|GMC Sierra SLT Extended Cab 2WD||$1,826|
|Ford Focus SE 4-Dr Sedan||$1,905|
|Jeep Grand Cherokee Laredo 2WD||$1,941|
|Toyota RAV4 Sport 4WD||$1,948|
|Hyundai Sonata Limited 4-Dr Sedan||$1,941|
|Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD||$1,971|
|Ford F-150 FX4 4WD||$1,976|
|Ford Explorer Limited 2WD||$1,981|
|Dodge Ram 2500 Mega Cab SLT 2WD||$2,028|
|Ford Edge SEL AWD||$2,041|
|Toyota Corolla XLE||$2,044|
|Compare Cheap Rates Go|
Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Prices do not factor in Albuquerque, NM location which can decrease or increase price quotes considerably.
Based upon the table data, we can assume that vehicles like the Toyota Prius, Ford Escape, Toyota Tacoma, Honda Civic, and Honda CR-V are most likely to be some of the more affordable vehicles to insure for drivers with handicaps.
For drivers with handicaps, one of the more important factors that aid in calculating car insurance rates is your address. Regions with more people or even just more weather-related claims tend to pay more, whereas less populated areas profit from lower rates.
The next table shows the most expensive cities in New Mexico for handicapped drivers to purchase auto insurance in. Albuquerque shows up at #1 with the yearly price of $1,417 for the average insured, which is about $118 each month.
|Compare Rates Now Go|
Table data uses comparative as the specific Albuquerque residence address can lower or raise rates noticeably.
Trying to buy budget car insurance is not easy, and finding out which company quotes the cheapest car insurance rates for handicapped drivers requires even more perseverance. Every insurance company uses their own method to set their prices, so let’s begin by taking a look at the car insurance companies with the overall cheapest rates in Albuquerque, NM.
Keep in mind that Albuquerque car insurance rates are based on many factors which can significantly increase or decrease the policy premium. Improving your credit score, buying a different home, or having a fender bender can produce rate changes that can cause some rates to be more affordable than others.
Find Cheaper Car Insurance in New Mexico
|Rank||Company||Cost Per Year|
|4||Farm Bureau Mutual||$1,166|
|Get a Custom Quote Go|
USAA generally has some of the most affordable car insurance rates in Albuquerque at around $657 per year. This is $911 less than the average premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers would also make the list of some of the most economical Albuquerque, NM car insurance companies.
As illustrated above, if you have coverage with Allied and switched to USAA, you could see yearly savings of about $273. Insureds with Safeco may save as much as $357 a year, and Farm Bureau Mutual customers might cut rates by $509 a year.
To find out how your current rates compare, click here to get quotes or quote prices from the following companies.
These premiums are averages for all drivers and vehicles in New Mexico and do not take into consideration an exact location for handicapped drivers. So the company that is best for you may not even be in the top 17 companies shown above. That is why you need to compare rates from as many companies as possible using your own individual information.
Do you need full coverage?
Finding the cheapest car insurance should be important to the majority of drivers, and one easy way to reduce the cost of insurance for handicapped drivers is to only buy liability coverage. The example below visualizes the comparison of yearly insurance costs with and without full coverage. The costs are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single status, and no other discounts are factored in.
As an overall average, comprehensive and collision coverage on your policy costs $1,468 per year more than insuring for liability only. At some point, almost every driver questions when is the right time to remove full coverage. There is no definitive rule for dropping physical damage coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
There are a few cases where dropping physical damage coverage is not in your best interest. If you still have a loan on your vehicle, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage.
The diagram below demonstrates how deductibles can increase or decrease insurance costs when trying to find cheap insurance for handicapped drivers. The premiums are based on a single male driver, comprehensive and collision coverage, and no discounts are applied.
As shown above, a 50-year-old driver could lower rates by $264 a year by changing from a $100 deductible to a $500 deductible, or save $400 by switching to a $1,000 deductible. Even younger insureds, like the age 20 example, could potentially save as much as $868 every year by choosing a larger deductible amount. If you do make the decision to raise your deductibles, it will be important to have emergency funds available to enable you to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Here’s why price comparisons are so important
Albuquerque car insurance rates are based on many factors which can significantly increase or decrease the price you pay for coverage. Simply having another birthday, buying another vehicle, or getting a couple of tickets can trigger price changes that can now make some companies more affordable than the competition.
Not only may your risk profile change, but auto insurance companies modify rates at least once a year in order to offset underwriting gains or losses. Higher than normal claim frequency or severity can result in higher priced premiums, while a profitable period can produce lower-cost Albuquerque car insurance rates.
To illustrate this example, the graph below shows rates for the cheapest car insurance in Albuquerque, NM for a 40-year-old male driver with a clear driving record, no claims, and solid credit. If we estimate rates based on his current risk factors, USAA might offer the most affordable car insurance rates in Albuquerque at $901 per year. This is $667 less than the average price paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers round out the rest of the top five cheapest Albuquerque, NM auto insurance companies.
Now let’s give the driver from above a claim or two, poor credit, and a speeding ticket. Because each insurer uses their own formula for determining rates, getting updated rate quotes most likely will result in a different list of affordable companies as shown below.
USAA now has the lowest price on auto insurance in Albuquerque with State Farm, Allied, Central Mutual, and Safeco now being in the top five. This illustrates why consumers need to compare many different companies to get affordable car insurance quotes for handicapped drivers.
Insurance rates are made up of many factors and can change without notice, so the cheapest company when you bought your policy may now be one of the more expensive options.
If you aren’t sure which coverage to buy and prefer to get some guidance when shopping for cheaper insurance for handicapped drivers, the agents listed below can answer your questions and help you decide which auto insurance policy would work best for you. To locate an Albuquerque insurance agent close to you, click the button link following the list or click here to compare rates now.
Paul Gallegos State Farm Insurance
5500 San Mateo Blvd NE #105 – Albuquerque, NM 87109 – (505) 883-2583
Berger Briggs Real Estate and Insurance Inc
4333 Pan American Fwy – Albuquerque, NM 87107 – (505) 247-0444
Cindy Maxwell – State Farm Insurance Agent
8244 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 883-9000
Matt Medina – State Farm Insurance Agent
4253 Montgomery Blvd NE g205 – Albuquerque, NM 87109 – (505) 881-8100
How to find economical insurance for handicapped drivers
Here are some of the recommended money-saving solutions that can help you locate cheap coverage.
- Just one traffic violation will increase your rates
- Raise deductibles
- At-fault accidents will increase rates
- Drive vehicles with five-star safety ratings
- Better credit rating means better rates
- Keep rates low by comparing prices once a year
The last suggestion is highly valuable, as was stressed in this write-up. Auto insurance rates can change considerably based on profitability, so drivers shouldn’t be resistant to switch companies if a more affordable price is available. Sticking with a specific company is fine, but it’s not a great idea if that loyalty results in overpaying hundreds of dollars a year. Take a couple minutes and shop around to find cheaper car insurance for handicapped drivers in Albuquerque.