Finding competitive coverage for a Nissan Altima in New Mexico is pretty easy for most people to do, but it hinges on a very complex rating algorithm that uses multiple factors such as annual vehicle mileage, whether or not you have filed claims in the past, and any driving offenses on your record. New Mexico drivers pay around $699 a year to insure their Altima, but that figure is a projection based on a 50-year-old married female driver with full physical damage coverage and $1,000 deductibles.
When projecting a rate like this, the problem is that you’re not a 50-year-old female, single instead of married, or maybe you prefer liability limits higher than required by New Mexico state law. Everyone has unique insurance needs, and this illustrates why the only way to find cheap insurance prices for your Nissan is to compare rates from as many companies as possible. Compare rate quotes now and you will be able to compare rates from top-rated car insurance companies in New Mexico.
The trim level of your Nissan tends to have a direct effect on the annual cost of coverage, so the rate you pay to insure a Altima 2.5 4-Dr Sedan trim level will be $148 lower than the cost to insure the more expensive Altima 3.5 SR 2-Dr Coupe trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Altima 2.5 4-Dr Sedan||$118||$220||$302||$18||$90||$748||$62|
|Altima 2.5 S 4-Dr Sedan||$118||$258||$302||$18||$90||$786||$66|
|Altima Hybrid 4-Dr Sedan||$134||$258||$302||$18||$90||$802||$67|
|Altima 2.5 S 2-Dr Coupe||$134||$258||$342||$20||$102||$856||$71|
|Altima 3.5 SR 4-Dr Sedan||$134||$258||$302||$18||$90||$802||$67|
|Altima 3.5 SR 2-Dr Coupe||$134||$298||$342||$20||$102||$896||$75|
|Get Your Own Custom Quote Go|
Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Prices do not factor in specific location information which can raise or lower prices greatly.
Finding decent, cheap auto insurance is confusing at best, and figuring out which companies offer the cheapest auto insurance rates for a Nissan Altima calls for even more work.
Each auto insurer uses a different method to set policy rates, so let’s begin by examining the auto insurance companies with the overall best prices in Albuquerque. It’s important to understand that New Mexico auto insurance rates are influenced by many factors that can increase the price of coverage. Simply turning a year older, buying a home, or getting a ticket for careless driving can produce rate changes that can make some companies more expensive than competitors.
Find Cheaper Car Insurance for Your Altima
USAA offers some of the lowest car insurance rates in Albuquerque at around $663 a year. This is $905 less than the average policy premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers are also some of the cheaper Albuquerque, NM insurance companies.
As the example above demonstrates, if you buy coverage from Farm Bureau Mutual and switched to Allied, you might realize a yearly savings of around $230. Insureds with Farmers could save as much as $315 a year, and State Farm policyholders might see rate reductions of $349 a year.
Be aware that those premium estimates are averaged across all types of insureds and vehicles and do not factor in a vehicle location for a Nissan Altima. So the company that has the cheapest rates for you may not even be in the top 17 companies shown above. That points out the importance of why you need to quote rates from many companies using your own specific driver and vehicle information.
Discounts on Albuquerque insurance rates
Insurers that sell policies for a Nissan Altima may also give you price discounts that may potentially lower prices by as much as 30% if you meet certain criteria. Large auto insurance companies and their offered discounts are detailed below.
- Progressive discounts include multi-vehicle, online signing, online quote discount, good student, multi-policy, homeowner, and continuous coverage.
- GEICO offers discounts for federal employee, seat belt use, anti-theft, membership and employees, and anti-lock brakes.
- State Farm has discounts for good student, Drive Safe & Save, multiple autos, Steer Clear safe driver discount, safe vehicle, and anti-theft.
- Esurance may offer discounts for anti-theft, multi-car, good student, good driver, and safety device.
- The Hartford may include discounts for defensive driver, vehicle fuel type, good student, air bag, bundle, anti-theft, and driver training.
The diagram below compares insurance prices with and without discounts applied to the premium. The premiums assume a male driver, no violations or claims, New Mexico state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with passive restraint, homeowner, accident-free, anti-theft, multiple policy, and defensive driving course discounts applied. With discounts applied, theamount saved on auto insurance for a Nissan Altima is 28% or $538.
Price comparison of only insuring for liability
Saving money when shopping for auto insurance should be important to most vehicle owners, and an easy way to save on the cost of insurance for a Nissan Altima is to not buy comprehensive and collision coverage. The diagram below visualizes the comparison of annual premium costs with and without full coverage. The premiums assume no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are applied.
If the expense is averaged for all age categories, full coverage on your policy costs $1,713 per year more than carrying just liability coverage. Many drivers may wonder if you should buy full coverage. There isn’t a written rule to exclude comp and collision coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your vehicle’s settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $4,000 after the policy deductible has been paid. If it’s costing you more than $400 annually for physical damage coverage, then you may want to consider only buying liability coverage.
Don’t make the mistake of not shopping around
Albuquerque auto insurance rates are impacted by many things which can substantially change the price you pay. Simply having another birthday, increasing liability limits, or getting caught speeding may prompt premium changes that may make certain companies more affordable than competitors.
Not only may things change on your end, but auto insurance companies file new New Mexico car insurance rates as needed as an adjustment for underwriting gains or losses. Heavy losses can cause a rate increase, while lower claim expenses can result in lower-cost Altima insurance rates.
To illustrate this example, the graph below shows the cheapest car insurance in Albuquerque, NM for a 30-year-old female driver with no accidents, a clean driving record, and a good credit history. If we estimate rates based on her personal risk profile, USAA may offer the lowest car insurance rates in Albuquerque at $912 a year. This is $656 less than the average price paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and The Hartford are the remaining best Albuquerque, NM auto insurance companies.
Let’s now give the driver from the first rate comparison a chargeable claim, a lower credit rating, and a traffic citation. Since each company has their own unique process for determining prices, analyzing rate quotes most likely will result in a slightly different list of affordable companies as shown below.
Allied now has the lowest car insurance rate in Albuquerque with USAA, Central Mutual, State Farm, and Safeco also being competitive. This example demonstrates why it is so important to take the time to shop around to find the most affordable insurance quotes for a Nissan Altima.
Auto insurance prices are made up of many different factors and change substantially, so the cheapest company when you bought your policy may now cost much more than other companies.
If you prefer to get some guidance when trying to find the best insurance rates for a Nissan Altima, the insurance agencies below are willing to help you decide which coverage meets your needs best.
To locate an Albuquerque auto insurance agent in your neighborhood, click the link after the list.
- Cynthia Bahling – State Farm Insurance Agent
12700 San Rafael Ave NE #2 – Albuquerque, NM 87122 – (505) 292-3934
- J B Martin Commercial, Homeowners, Auto, Health and Life Insurance Agency
2800 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 299-7444
- Ray Pratt – State Farm Insurance Agent
9998 Montgomery Blvd NE a – Albuquerque, NM 87111 – (505) 298-7579
- Sam Sample – State Farm Insurance Agent
3700 Osuna Rd NE #514 – Albuquerque, NM 87109 – (505) 341-1000
- John Marcelli – State Farm Insurance Agent
12611 Montgomery, Ste A3 – Albuquerque, NM 87111 – (505) 293-0100
How to find more affordable car insurance for a Nissan Altima
The list below summarizes a few penny-pinching ideas that can help you get more affordable coverage.
- Increase your physical damage deductibles
- On older vehicles, drop full coverage
- Don’t have frequent claims
- Save money by obeying traffic laws and keeping a clean driving record
- Prevent price hikes by avoiding at-fault accidents
- Compare rate quotes often
That last piece of advice is remarkably important, as was stressed in this piece. Coverage prices can change significantly in a year, so don’t be afraid to buy from a new company if you find a better deal.
Loyalty to a specific company is fine, but it isn’t a good idea if that devotion results in you overpaying a lot of money. Take a few minutes and compare prices and find cheaper auto insurance for a Nissan Altima in Albuquerque.