The preferred way to find affordable quotes for Nissan Maxima insurance in Albuquerque is to start doing a yearly price comparison from insurance carriers who provide car insurance in New Mexico. Drivers can shop around by following these guidelines.
- Spend some time learning about policy coverages and the things you can control to prevent expensive coverage. Many policy risk factors that drive up the price such as at-fault accidents, speeding tickets, and a not-so-good credit history can be amended by paying attention to minor details. This article gives more ideas to help prevent high rates and find missing discounts.
- Request price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from a single company like Progressive or State Farm, while agents who are independent can quote rates from multiple companies. Compare rates now
- Compare the new quotes to your existing coverage to see if switching to a new carrier will save money. If you find a lower rate, make sure there is no lapse in coverage.
- Tell your current agent or company of your decision to cancel your current policy. Submit any necessary down payment along with the completed application to the new company. Once the paperwork is finalized, store the proof of insurance certificate in an accessible location in your vehicle.
The critical component of shopping around is to use similar deductibles and liability limits on each price quote and and to get prices from as many companies as possible. Doing this ensures the most accurate price comparison and the most accurate and complete price analysis.
Amazingly, a recent NerdWallet.com study showed that most insurance buyers in New Mexico have purchased from the same company for four years or more, and just short of a majority have never compared rates from other carriers. American consumers could pocket as much as $859 a year just by getting comparison quotes, but they mistakenly think it’s difficult to save money by comparing rate quotes.
If you are paying for car insurance now, you will surely be able to find the best rates using the concepts covered in this article. Buying affordable auto insurance in Albuquerque can really be easy if you know what you’re doing. But New Mexico consumers can benefit by having an understanding of how companies determine premium rates.
Just remember that making a lot of price comparisons will increase your chances of finding the best price.
The companies shown below are ready to provide free quotes in New Mexico. In order to find cheap auto insurance in Albuquerque, we suggest you visit several of them to get the best price comparison.
Nissan Maxima coverage statistics
The rate information displayed next outlines a range of insurance coverage prices for Nissan Maxima models. Having insight into how car insurance premiums are figured can assist in making smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Maxima 3.5 S||$398||$590||$422||$24||$126||$1,560||$130|
|Maxima 3.5 SV||$398||$680||$422||$24||$126||$1,650||$138|
|Get Your Own Custom Quote Go|
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Information does not factor in Albuquerque location which can increase or decrease auto insurance rates noticeably.
Does full coverage make sense?
The example below illustrates the comparison of Nissan Maxima insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in New Mexico. The premiums assume no claims or driving citations, $500 deductibles, drivers are not married, and no other discounts are factored in.
Guidelines for eliminating full coverage
There is no exact formula to eliminate comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Nissan Maxima replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $3,000 after paying the physical damage deductible. If it’s costing you more than $300 annually for physical damage coverage, then you might consider buying liability only.
There are some conditions where buying only liability insurance is not recommended. If you haven’t paid off your loan, you are required to maintain full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Why auto insurance is not optional
Despite the high cost, insurance is a good idea for several reasons.
- Most states have mandatory insurance requirements which means state laws require a minimum amount of liability coverage in order to license the vehicle. In New Mexico these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your vehicle, more than likely the lender will force you to carry insurance to ensure loan repayment if the vehicle is totaled. If you default on your policy, the bank or lender will purchase a policy for your Nissan for a much higher rate and force you to pay for the expensive policy.
- Auto insurance preserves both your assets and your Nissan Maxima. It also can pay for medical expenses for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if someone files suit against you as the result of an accident. If your Nissan gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of insuring your Maxima are without a doubt worth the cost, particularly when you have a large claim. According to a recent study, the average American driver is wasting up to $825 a year so it’s very important to do a rate comparison each time the policy renews to make sure the price is not too high.
These eight discounts can lower your auto insurance quotes
Companies offering auto insurance don’t list all possible discounts very well, so the following list contains some of the more common and also the lesser-known savings tricks you should be using when you buy Albuquerque car insurance online. If you check and find you aren’t receiving every discount possible, you’re paying more than you need to.
- Drivers Education – Teen drivers should successfully take a driver’s education course in school.
- Pay Upfront and Save – If you can afford to pay the entire bill instead of making monthly payments you may reduce your total bill.
- Club Memberships – Participating in specific professional or occupational memberships or organizations could qualify you for a break on your policy.
- Accident Forgiveness Coverage – Not really a discount, but companies like GEICO and Allstate will turn a blind eye to one accident without the usual rate increase if your claims history is clear prior to being involved in the accident.
- No Claims – Insureds with no claims or accidents get the best auto insurance rates compared to drivers who are more careless.
- Online Discount – Some of the larger companies will give a small break for signing up over the internet.
- Student Discounts – Being a good student can save 20 to 25%. You can use this discount normally until age 25.
- Multiple Vehicles – Drivers who insure several vehicles with the same auto insurance company could earn a price break for each car.
Remember that most discount credits are not given to the entire policy premium. Most only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Despite the fact that it seems like all the discounts add up to a free policy, you’re out of luck. Any qualifying discounts will cut your policy cost.
The illustration below shows the comparison of Nissan Maxima car insurance costs with and without policy discounts. The costs are based on a male driver, no accidents, no driving violations, New Mexico state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, marriage, claim-free, multi-policy, and multi-car discounts applied.
Larger auto insurance companies and their possible discounts include:
- Farm Bureau offers premium reductions for 55 and retired, youthful driver, driver training, safe driver, renewal discount, multi-policy, and multi-vehicle.
- MetLife may have discounts that include defensive driver, good driver, claim-free, good student, and multi-policy.
- Progressive may offer discounts for continuous coverage, multi-vehicle, good student, online quote discount, online signing, multi-policy, and homeowner.
- AAA may include discounts for good driver, anti-theft, good student, multi-car, education and occupation, and multi-policy.
- American Family offers discounts including defensive driver, accident-free, good student, air bags, multi-vehicle, TimeAway discount, and good driver.
- GEICO discounts include good student, daytime running lights, anti-theft, air bags, and anti-lock brakes.
- State Farm has discounts for good driver, Drive Safe & Save, multiple autos, anti-theft, and safe vehicle.
When getting a coverage quote, ask each company or agent what discounts are available to you. Some discounts may not be available in every state. To see a list of auto insurance companies with significant discounts in New Mexico, click here.
Insurance quotes from neighborhood Albuquerque auto insurance agents
A small number of people prefer to have an agent’s advice. A nice benefit of comparing insurance prices online is that you can obtain the lowest rates but also keep your business local. Buying from and supporting local agencies is definitely important in Albuquerque.
Once you complete this form (opens in new window), your coverage information is submitted to companies in Albuquerque who will give you quotes to get your business. You never need to leave your computer because prices are sent immediately to you. It’s the lowest rates and a licensed agent to talk to. If you wish to get a price quote from a particular provider, you would need to go to their quote page and submit a quote form there.
When finding a local Albuquerque insurance agent, there are a couple of different types of agents and how they work. Albuquerque agents can either be exclusive or independent (non-exclusive).
Independent Insurance Agencies
Agents that elect to be independent are not locked into one company so they have the ability to put coverage amongst many companies and get you the best rates possible. If you are not satisfied with one company, they can switch companies in-house and that require little work on your part.
When shopping rates, you definitely need to get insurance quotes from a couple of independent agencies to have the most options to choose from.
The following is a short list of independent insurance agents in Albuquerque that may be able to give you cheap rate quotes.
J B Martin Commercial, Homeowners, Auto, Health and Life Insurance Agency
2800 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 299-7444 – View Map
Webster Insurance Agency Inc
1201 Eubank Blvd Suite 3 – Albuquerque, NM 87112 – (505) 294-1497 – View Map
Exclusive Insurance Agencies
Agents in the exclusive channel work for only one company and examples are Farmers Insurance, State Farm, or Allstate. Exclusive agencies are unable to provide rate quotes from other companies so they really need to provide good service. Exclusive agents are usually quite knowledgeable on their company’s products which helps them sell insurance even at higher premiums.
Shown below are exclusive insurance agencies in Albuquerque who can help you get comparison quotes.
Derek Sanchez – State Farm Insurance Agent
725 San Mateo Blvd NE – Albuquerque, NM 87108 – (505) 292-3984 – View Map
Choosing an car insurance agent requires more thought than just the bottom line cost. The following questions are important to ask.
- Are claim adjusters local or do you have to take your car somewhere else?
- Which family members are covered?
- Does the company allow you to choose your own collision repair facility?
- Is the agency involved in supporting local community causes?
- Do they have 24-hour customer assistance?
- Which insurance company do they prefer to write with?
- Are they full-time agents?
- Are they able to influence company decisions when a claim is filed?
Auto insurance 101
Knowing the specifics of your policy can help you determine the right coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. These are the usual coverages offered by insurance companies.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and also any damage incurred to your Nissan Maxima.
Due to the fact that many New Mexico drivers only carry the minimum required liability limits (which is 25/50/10), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Frequently the UM/UIM limits are set the same as your liability limits.
Liability auto insurance
Liability insurance will cover damage that occurs to a person or their property that is your fault. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 25/50/10 that means you have $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $10,000 of coverage for damaged property. Some companies may use one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.
Liability insurance covers things such as repair bills for other people’s vehicles, pain and suffering, loss of income and structural damage. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford. New Mexico state law requires minimum liability limits of 25/50/10 but drivers should carry more coverage.
The next chart demonstrates why the minimum limit may not be adequate coverage.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP pay for bills such as prosthetic devices, chiropractic care, hospital visits, funeral costs and rehabilitation expenses. They can be used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover you and your occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not universally available and may carry a deductible
Comprehensive auto coverage
Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things such as damage from flooding, damage from a tornado or hurricane, hitting a deer and falling objects. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
Collision coverage protection
This coverage will pay to fix damage to your Maxima from colliding with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as sideswiping another vehicle, scraping a guard rail, sustaining damage from a pot hole, backing into a parked car and damaging your car on a curb. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Drivers also have the option to bump up the deductible on your Maxima to bring the cost down.
One last note
As you quote Albuquerque car insurance, never reduce needed coverages to save money. In many cases, an insured cut comprehensive coverage or liability limits only to regret they didn’t purchase enough coverage. The ultimate goal is to buy the best coverage you can find at the best possible price.
We covered quite a bit of information on how to shop for Nissan Maxima insurance online. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even find the best rates are with the smaller companies. Regional companies often have lower car insurance rates on specific markets than their larger competitors like GEICO and State Farm.
Additional auto insurance information can be read on the following sites:
- Auto Insurance Learning Center (State Farm)
- How Much is Auto Insurance for Postal Workers in Albuquerque? (FAQ)
- How Much is Albuquerque Auto Insurance for a Nissan Sentra? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Police Officers in Albuquerque? (FAQ)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- Safety Belts FAQ (iihs.org)