Nobody I know gets a kick out of paying for auto insurance, especially knowing they could lower their rates if they shopped around.
It’s easy to assume that insurance companies don’t want you to compare rates. People who shop for lower prices will probably move their business because they have a good chance of finding coverage at a cheaper rate. A recent survey discovered that people who made a habit of comparing rate quotes saved approximately $860 a year compared to those who don’t make a habit of comparing rates.
If finding the lowest price on insurance in Albuquerque is your objective, then learning a little about how to compare insurance rates can save time, money, and frustration. Lots of insurance companies contend for your hard-earned dollar, so it can be very hard to choose a insurer to discover the definitive best rate on Chevy Suburban insurance in Albuquerque.
You need to quote other rates every six months since insurance rates fluctuate regularly. Even if you got the best premium rates on Chevy Suburban insurance in Albuquerque a year ago there is a good chance you can find better prices now. Forget all the misinformation about auto insurance because we’re going to demonstrate the tricks you need to know to reduce your cost while improving coverage.
The fastest way that we advise to compare rate quotes for Chevy Suburban insurance in Albuquerque is to know the fact auto insurance companies will pay a fee to compare their rates. To start a quote, the only thing you need to do is provide the companies a bit of rating information like the type of vehicles you drive, if you’re married, if the car is leased, and your job. That information gets sent immediately to multiple auto insurance providers and they provide comparison quotes instantly to find the best rate.
To start a rate quote now, click here and complete the form.
The providers in the list below are our best choices to provide price quotes in Albuquerque, NM. If you want to find cheaper car insurance in Albuquerque, we suggest you get price quotes from several of them in order to get a fair rate comparison.
Check for these money saving discounts
Some insurers don’t list every discount available in an easy-to-find place, so we researched both the well known and also the more inconspicuous discounts you could be receiving when you buy Albuquerque auto insurance online. If you do not double check each discount possible, you are throwing money away.
- Anti-lock Brake System – Anti-lock brake equipped vehicles are much safer to drive so you can save 10 percent or more.
- Online Discount – Many insurance companies give back up to $50 for signing up on the internet.
- Drive Safe and Save – Accident-free drivers can save as much as half off their rates than less cautious drivers.
- Active Military Service – Being deployed with a military unit may qualify for rate reductions.
- Albuquerque Homeowners Discount – Just owning your own home can save a few bucks because maintaining a house means you have a higher level of financial diligence.
- Driver Safety – Taking a class that teaches driver safety techniques could possibly earn you a 5% discount and easily recoup the cost of the course.
- Discounts for New Vehicles – Buying a new car instead of a used Suburban can save you some money because new model year vehicles keep occupants safer.
- Discounts for Multiple Vehicles – Having all your vehicles with the same company can get a discount on all vehicles.
- Driver’s Ed – Require your teen driver to enroll in driver’s education in high school.
- Full Payment Discount – If paying your policy premium upfront instead of paying each month you can avoid the installment charge.
It’s important to note that most credits do not apply to the entire cost. Most cut specific coverage prices like physical damage coverage or medical payments. Even though it may seem like you would end up receiving a 100% discount, that’s just not realistic. But all discounts will help lower the premium cost.
The diagram below shows the comparison of Chevy Suburban premium costs with and without discounts. Data assumes a male driver, no accidents or driving violations, 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 second shows the rates with claim-free, safe-driver, multi-car, marriage, multi-policy, and homeowner discounts applied.
A partial list of companies that possibly offer some of the above discounts possibly include:
If you need lower rates, check with every company what discounts are available to you. Discounts might not apply in your area.
The coverage information displayed next outlines detailed analysis of coverage prices for Chevy Suburban models. Being able to understand how insurance rates are determined can be useful when making informed decisions when comparing rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Suburban LS 2WD||$320||$420||$422||$24||$126||$1,312||$109|
|Suburban LT 2WD||$320||$420||$422||$24||$126||$1,312||$109|
|Suburban LS 4WD||$320||$420||$422||$24||$126||$1,312||$109|
|Suburban LT 4WD||$320||$420||$422||$24||$126||$1,312||$109|
|Suburban LTZ 2WD||$320||$494||$422||$24||$126||$1,386||$116|
|Suburban LTZ 4WD||$356||$494||$422||$24||$126||$1,422||$119|
|Get Your Own Custom Quote Go|
Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Premium amounts do not factor in garaging location in Albuquerque which can affect insurance rates substantially.
The diagram below illustrates how choosing a deductible and can raise or lower Chevy Suburban insurance rates for each age group. The premiums assume a married female driver, full coverage, and no discounts are factored in.
Lower Your Albuquerque Insurance Premiums
Many things are part of the equation when you get your auto insurance bill. Some of the criteria are obvious like a motor vehicle report, but some are more obscure like where you live or how financially stable you are.
Listed below are just a few of the factors utilized by car insurance companies to help set prices.
Premiums drop with age – Teenage drivers in New Mexico are proven to be easily distracted when driving and because of this, their car insurance rates are much higher. Adding a youthful driver to your car insurance policy can increase premiums substantially. Mature drivers are more cautious drivers, cost insurance companies less in claims, and are generally more financially stable.
The next chart uses these assumptions: single driver, full coverage with $250 deductibles, and no discounts or violations.
GPS tracking and theft deterrents lowers prices – Choosing to buy a car that has an advanced theft prevention system can get you a discount on your car insurance. Advanced theft deterrents such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping vehicle theft.
Liability limits should be high – The liability section of your policy will protect you if ever you are found liable for an accident. It will provide legal defense coverage to defend your case. This coverage is relatively inexpensive compared to physical damage coverage, so do not cut corners here.
Does insurance cost more for guys? – Over time, data shows that females take fewer risks when driving. Now that doesn’t mean females are better at driving than males. Both sexes are responsible for accidents in similar numbers, but the male of the species have costlier accidents. In addition to higher claims, males also get higher numbers of serious violations like driving under the influence (DUI). Young men ages 16 to 20 have the highest risk to insure so it costs more to insure them.
The illustration below shows the difference between Chevy Suburban car insurance costs for male and female drivers. The price estimates are based on no claims or driving citations, comp and collision included, $100 deductibles, drivers are not married, and no discounts are applied.
How credit rating affects car insurance rates – Having a bad credit rating is a big factor in calculating your car insurance rates. People with high credit ratings tend to be better risks to insure as compared to drivers with bad credit. If your credit rating is low, you could potentially save money when insuring your Chevrolet Suburban by improving your rating.
Lower coverage deductibles cost more – Your deductibles represent how much money the insured will be required to pay if a covered claim is submitted. Physical damage protection, also called ‘full coverage’, insures against damage to your car. Some examples of claims that would be covered could be collision with another vehicle, animal collisions, and having a roll-over accident. The more of the claim the insured has to pay upfront, the less your car insurance will be.
How’s your driving record? – Being a careful driver has a huge affect on how much you pay. Good drivers pay less for auto insurance compared to drivers with tickets. Even one ticket may increase your cost by twenty percent. Drivers who have gotten serious violations like hit and run, DWI or reckless driving convictions may face state-mandated requirements to complete a SR-22 with their state’s licensing department in order to drive a vehicle legally.
The diagram below highlights how traffic violations and accidents drive up Chevy Suburban insurance costs for different age categories. Data assumes a married male driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.
Insurance losses for a Chevy Suburban – Insurers factor in historical loss data when setting premium prices. Vehicles that have increased claim numbers or amounts will be charged more to insure.
The next table illustrates the collected loss data for Chevy Suburban vehicles. For each policy coverage type, the claim amount for all vehicles, regardless of manufacturer or model, is set at 100. Numbers under 100 are indicative of better than average losses, while percentage numbers above 100 indicate more frequent losses or a tendency for claims to be larger.
|Specific Chevrolet Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chevrolet Suburban 1500 4dr 2WD||90||92||90||67|
|Chevrolet Suburban 1500 4dr 4WD||109||113||124||72||70|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years