Who Has the Cheapest Auto Insurance for Nurses in Albuquerque?

The words “bargain” and “auto insurance” really shouldn’t be used together, in particular when trying to find the best coverage prices for nurses. Because it’s so expensive, let’s start the ball rolling by going over some of the things the can have a considerable influence on car insurance prices, and find out if you can lower the price of your next policy.

Determining which companies quote the lowest-priced car insurance rates for nurses requires a tad more effort than just picking a company at random. Each insurance company uses a different method to set policy rates, so we will examine the most affordable car insurance companies in New Mexico.

It’s a good idea to know that Albuquerque, NM car insurance rates are influenced by many factors which can substantially decrease or increase the price of your policy. Simply getting older, increasing deductibles, or getting a couple of tickets may prompt premium changes resulting in some rates now being much cheaper than others.

Cheapest Insurance Rates for Health Occupations

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Cheapest New Mexico car insurance ranked by price
Rank Company Cost Per Year
1 USAA $677
2 Allied $920
3 Safeco $984
4 Farm Bureau Mutual $1,166
5 Farmers $1,263
6 The Hartford $1,326
7 State Farm $1,349
8 Central Mutual $1,368
9 Progressive $1,550
10 Travelers $1,569
11 GEICO $1,624
12 California Casualty $1,639
13 MetLife $1,642
14 Encompass $1,694
15 Allstate $2,408
16 Liberty Mutual $2,479
17 Sentry $3,208
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USAA has some of the lowest car insurance rates in Albuquerque at around $677 each year. This is $891 less than the average rate paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers also qualify as some of the cheapest Albuquerque, NM car insurance companies.

In the rate table above, if you are currently insured with Farmers and switched to Allied, you may realize annual savings of roughly $343. Customers with The Hartford might save as much as $406 a year, and State Farm insureds might reduce prices by as much as $429 a year.

Be aware that those premium estimates are averaged across all types of insureds and vehicles and and are not calculated with an exact location for nurses. So the car insurance company that fits your needs best may not even be in the top 17 companies in the list above. That helps illustrate why you need to quote rates from as many companies as possible using your own driver data and vehicle information.

The vehicle to be insured is one of the biggest factors that determines if you can find cheap insurance for nurses. Vehicles with lower acceleration and performance, modern passenger safety features, or a low likelihood of liability claims will cost quite a bit less to insure than high performance models.

The next table shows insurance rates for a selection of the most cost-effective vehicles to insure.

Cheapest Vehicles to Insure in Albuquerque, NM
Vehicle Insured Estimated Cost for Full Coverage
Ford Escape XLS 4WD $1,338
Jeep Wrangler Sport 4WD 2-Dr $1,385
Toyota Prius $1,485
Honda Accord LX-P 4-Dr Sedan $1,513
Honda CR-V EX-L 4WD $1,555
Toyota Camry LE $1,589
Chevrolet Silverado LS Extended Cab 4WD $1,598
Jeep Grand Cherokee Laredo 4WD $1,589
Ford F-150 FX4 4WD $1,618
Hyundai Elantra Blue 4-Dr Sedan $1,644
Dodge Grand Caravan SE $1,650
Ford Explorer XLT 2WD $1,644
Kia Optima LX $1,699
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Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Price information does not factor in vehicle location which can decrease or increase auto insurance rates noticeably.

Based upon the table data, you can figure that models like the Ford Escape, Jeep Wrangler, Toyota Prius, Honda Accord, and Honda CR-V will be the most budget-friendly vehicles to insure for health professionals.

Full coverage rates compared to liability-only

Lowering the price of car insurance is probably important to most drivers, and one of the easiest ways to save on the cost of insurance for nurses is to only pay for liability coverage. The information below shows the comparison of insurance premiums with liability coverage only compared to full coverage. The data assumes no tickets, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

As an average, full coverage on your policy costs an extra $1,830 per year over liability only. Many drivers will wonder if full coverage is worth the money. There is no specific rule that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.

Which car insurance company is best in New Mexico?

Ending up with a good quality auto insurance company can be a challenge considering how many different companies there are to choose from in Albuquerque. The ranking information in the lists below can help you analyze which auto insurers to look at when shopping your coverage around. These rankings are for companies that insure vehicles nationwide, so smaller companies that only insure vehicles in New Mexico are not taken into consideration for the list.

Best 15 Car Insurance Companies for Nurses in New Mexico
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Titan Insurance 90 87 91 95% A+ 89.6
Progressive 84 91 93 87% A+ 89.5
Allstate 85 90 92 88% A+ 89.3
Nationwide 87 88 84 90% A+ 88.7
Liberty Mutual 84 87 93 88% A 88.5
21st Century 85 86 87 88% A 86.7
Esurance 85 80 95 87% A+ 85.9
Safeco 85 85 85 86% A 85.8
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Data Source: Insure.com Best Car Insurance Companies

Get discounts on Albuquerque auto insurance rates

Discounts on car insurance for nursesAuto insurance companies that offer cheap quotes for nurses may additionally offer policy discounts that can lower rates by as much as 35% if you meet the requirements. Popular car insurance companies and a partial list of their discounts are included below.

The chart below compares car insurance rates with and without discounts applied to the policy premium. The premiums are based on a female driver, no violations or claims, New Mexico state minimum liability limits, full physical damage coverage, and $100 deductibles.

The first bar for each age group shows the price with no discounts. The lower bar shows the rates with defensive driving course, marriage, vehicle safety, accident-free, multiple vehicle, and claim-free discounts applied. When these discounts are applied, the average amount saved each year on car insurance for nurses is 28% or $536.

Why you are probably overpaying for car insurance

Albuquerque car insurance rates are calculated based on many things that can increase the price you have to pay. Improving your credit rating, increasing liability limits, or having an accident may generate price changes resulting in some rates now being more affordable than others. Not only that, but insurance companies amend premium rates every year to help ensure profitability. Heavy losses can cause higher prices, while lower claims may produce more affordable Albuquerque car insurance rates.

As an example, the data below shows the companies that have the cheapest car insurance in Albuquerque, NM for a 30-year-old female driver with no accidents, a clean driving record, and excellent credit. When quoting prices based on her current risk profile, USAA might quote the most affordable car insurance rates in Albuquerque at $883 a year. This is $685 less than the average price paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers are the remaining top five cheapest Albuquerque, NM auto insurance companies.

In this example, we will give the driver from the above example an at-fault accident, less-than-perfect credit, and a stop sign violation. Since each insurance company uses their own calculation for determining rates in each state, getting updated rate quotes may now present a different list of the cheapest companies as shown below.

The Hartford now has the best insurance rate in Albuquerque with Safeco, USAA, State Farm, and Allied also having competitive pricing. This example illustrates why it is critical to compare as many rates as possible when trying to find the most economical car insurance quotes for nurses. Insurance prices consist of many factors and can change substantially, so the best company the last time you compared rates may now be quite expensive.