Compare Jeep Compass Insurance Rate Quotes in Albuquerque

Unfortunately, the vast majority of consumers in New Mexico have stayed with the same insurance company for at least the last four years, and almost 40% of drivers have never even shopped around for cheaper coverage. With the average premium in the U.S. being $1,847, drivers could save $860 each year, but they don’t understand how simple it is to compare rate quotes online.

Insurance for Jeep CompassTruthfully, the best way to find cheaper prices for car insurance rates in Albuquerque is to start doing a yearly price comparison from insurers who sell insurance in New Mexico. This can be done by completing these steps.

  1. Get an understanding of car insurance and the measures you can take to prevent rate increases. Many rating criteria that cause rate increases such as traffic citations and your credit history can be rectified by making lifestyle changes or driving safer. This article provides more ideas to help keep rates affordable and find hidden discounts.
  2. Compare price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like Progressive or State Farm, while independent agents can quote prices for a wide range of insurance providers.
  3. Compare the new rates to your existing policy and determine if there is any savings. If you find a lower rate quote and decide to switch, verify that coverage does not lapse between policies.
  4. Provide adequate notice to your current company of your intention to cancel your existing policy and submit a down payment along with a signed application to the new insurer. Don’t forget to store the certificate verifying proof of insurance in your glove compartment.

A good tip to remember is that you’ll want to compare the same amount of coverage on every price quote and and to get rate quotes from as many different insurance providers as possible. Doing this ensures an apples-to-apples comparison and a complete price analysis.

If you’re already insured or just want to reduce your rates, use these cost-cutting techniques to reduce premiums without reducing protection. Finding the cheapest auto insurance coverage in Albuquerque is really quite simple as long as you have a good starting point. Smart buyers only have to learn the most time-saving way to compare insurance rates from multiple carriers.

Cheapest auto insurance in Albuquerque, NM

The companies shown below offer quotes in Albuquerque, NM. To buy cheap auto insurance in Albuquerque, we suggest you get rates from several of them in order to get a fair rate comparison.

Rate information and statistics

The data table shown next outlines detailed analysis of insurance costs for Jeep Compass models. Having a good understanding how insurance policy rates are determined can assist in making smart buying decisions.

Jeep Compass Insurance Rates in Albuquerque, NM
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $116 $212 $338 $20 $102 $788 $66
Compass Sport 4WD $132 $258 $338 $20 $102 $850 $71
Compass Limited 2WD $132 $258 $338 $20 $102 $850 $71
Compass Limited 4WD $132 $258 $338 $20 $102 $850 $71
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Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Table data does not factor in vehicle garaging location which can revise coverage prices significantly.

An analysis of deductible level

One common question asked by Albuquerque drivers is how low should you set your deductibles. The rates below may help to conceptualize the difference in cost when you choose different comp and collision deductibles. The first rate estimation uses a $250 deductible for comp and collision and the second data table uses a $500 deductible.

Jeep Compass insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $216 $344 $322 $20 $96 $1,023 $85
Compass Sport 4WD $248 $420 $322 $20 $96 $1,131 $94
Compass Limited 2WD $248 $420 $322 $20 $96 $1,131 $94
Compass Limited 4WD $248 $420 $322 $20 $96 $1,131 $94
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Jeep Compass insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $176 $278 $322 $20 $96 $892 $74
Compass Sport 4WD $202 $338 $322 $20 $96 $978 $82
Compass Limited 2WD $202 $338 $322 $20 $96 $978 $82
Compass Limited 4WD $202 $338 $322 $20 $96 $978 $82
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Rate information does not factor in garaging location in Albuquerque which can lower or raise prices significantly.

Based on the data above, we can derive that using a $250 deductible will cost you approximately $12 more each month or $144 for a full year than requesting the higher $500 deductible. Since you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you normally average more than 21 months between claims, you would probably be better off if you opt for a higher deductible.

How to determine if raising deductibles makes sense

Average monthly premium for $250 deductibles: $92
Average monthly premium for $500 deductibles (subtract): – $80
Monthly savings from raising deductible: $12
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $12
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

One important note is that higher deductibles means you will have to cover more of the damage yourself when you have a claim. You should have some available funds in the event you need to pay the deductible for vehicle repair.

The example below highlights how deductible choice and can increase or decrease Jeep Compass premium costs for different age groups. The premiums are based on a single female driver, full coverage, and no discounts are applied to the premium.

Lower-cost Albuquerque car insurance rates with discounts

Companies that sell car insurance do not list every available discount very clearly, so the list below contains some of the best known and also the lesser-known credits available to you. If you don’t get every credit possible, you’re paying more than you need to.Save money with discounts

It’s important to understand that most credits do not apply to the overall cost of the policy. Most only cut specific coverage prices like collision or personal injury protection. So when it seems like it’s possible to get free car insurance, company stockholders wouldn’t be very happy.

The chart below shows the comparison of Jeep Compass car insurance costs with and without discounts applied to the premium. The price estimates are based on a female driver, no claims or driving citations, New Mexico state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, multi-car, homeowner, claim-free, and safe-driver discounts applied.

To view insurers offering car insurance discounts in Albuquerque, follow this link.

Cut Insurance Costs with These Tips

Smart consumers have a good feel for the factors that help determine the level of your policy premiums. If you have some idea of what influences your rates, this empowers consumers to make smart changes that can earn you cheaper rates. Lots of factors are considered when you quote your car insurance policy. Some are pretty understandable such as your driving record, but some are less apparent like your vehicle usage and annual miles driven.

The items below are a partial list of the pieces used by companies to determine your rate level.

Compare prices but work with a local Albuquerque insurance agency

A lot of people just prefer to talk to an insurance agent. Professional insurance agents are very good at helping people manage risk and help file insurance claims. A nice benefit of comparing rates online is that you can find cheap car insurance rates and still have an agent to talk to. Buying from local agents is still important in Albuquerque.

Insurance agents in AlbuquerqueBy using this simple form, your insurance data is immediately sent to companies in Albuquerque that can provide free Albuquerque car insurance quotes to get your business. You won’t need to contact an agency as quotes are delivered immediately to your email address. If you need to get a comparison quote from a specific car insurance provider, you would need to jump over to their website to submit a rate quote request.

The difference between Albuquerque car insurance agents

If you want to buy car insurance from a local insurance agency, it’s important to understand the different types of agencies and how they can write your policy. Car insurance agencies can be categorized as either exclusive agents or independent agents. Both types of agents can do a good job, but we need to point out the differences since it may influence buying decisions.

Independent Car Insurance Agents (or Brokers)

Independent agencies can sell policies from many different companies and that is an advantage because they can write policies with many different companies and find you the best rates. To transfer your coverage to a different company, they simply move your policy to a different company and you don’t have to find a new agent. If you need cheaper car insurance rates, you absolutely need to compare quotes from independent agents to get the most accurate price comparison.

Listed below are independent insurance agents in Albuquerque who can help you get comparison quotes.

4333 Pan American FwyAlbuquerque, NM 87107(505) 247-0444View Map

2116 Vista Oeste NW Bldg 5Albuquerque, NM 87120(505) 883-3683View Map

8224 Louisiana Blvd NEAlbuquerque, NM 87113(505) 821-7123View Map

View more Albuquerque agents

Exclusive Insurance Agents

Agents in the exclusive channel normally can only provide a single company’s rates like Farmers Insurance, State Farm, or Allstate. They are unable to compare other company’s rates so they have no alternatives for high prices. They are highly trained on their company’s products which helps overcome the inability to quote other rates.

Shown below is a list of exclusive insurance agencies in Albuquerque that can give you comparison quotes.

4420 4th St NWAlbuquerque, NM 87107(505) 242-6231View Map

5921 Lomas Blvd NE aAlbuquerque, NM 87110(505) 255-8676View Map

2716 San Pedro Dr NEAlbuquerque, NM 87110(505) 881-1008View Map

View more Albuquerque agents

Selecting an insurance agent is decision based upon more than just the price. Here are some questions you should ask.

One last thing about your coverage

As you prepare to switch companies, never buy poor coverage just to save money. There have been many situations where an insured cut full coverage only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy enough coverage at an affordable rate but still have enough coverage for asset protection.

We’ve covered many ways to save on Jeep Compass insurance in Albuquerque. The key thing to remember is the more companies you get premium rates for, the better your comparison will be. You may even discover the best car insurance rates are with a company that doesn’t do a lot of advertising. Some small companies often have lower premium rates on specific markets than the large multi-state companies such as Allstate, GEICO and Progressive.

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