Would you like an easy way to compare low-cost Jeep Liberty insurance in Albuquerque? Did a good deal turn into an under-performing, overpriced auto insurance policy? Trust us, many Albuquerque consumers are in the same pinch.
It’s hard to believe, but most drivers have purchased from the same company for at least the last four years, and just under half have never even compared rates from other companies. New Mexico insurance shoppers can cut their rates by almost 40% a year, but they assume it’s a waste of time to shop around.
Steps to finding cheaper quotes for Jeep Liberty insurance in Albuquerque
If you want to save money, the best way to find affordable quotes for auto insurance rates in Albuquerque is to compare prices regularly from insurers in New Mexico. You can compare rates by following these steps.
- Try to understand how insurance works and the things you can change to prevent expensive coverage. Many factors that are responsible for high rates like accidents, careless driving, and a not-so-good credit rating can be remedied by making minor driving habit or lifestyle changes. Read the full article for tips to help prevent high rates and find possible discounts that are available.
- Compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from a single company like GEICO and State Farm, while independent agents can quote rates from multiple sources.
- Compare the new rates to your current policy to see if you can save by switching companies. If you can save money and buy the policy, make sure there is no lapse in coverage.
- Give notification to your agent or company to cancel your current coverage. Submit payment and a signed application for your new policy. Make sure you put the proof of insurance paperwork along with your vehicle registration.
One tip to remember is to try to use the same level of coverage on each quote request and and to get rate quotes from all possible companies. Doing this enables an accurate price comparison and a complete rate analysis.
Big companies like Allstate and Progressive all promote huge savings with fancy advertisements and it is difficult to ignore the flashy ads and take the time to shop coverage around.
It is always a good idea to compare rates once or twice a year because rates change frequently. Even if you think you had the best deal on Jeep Liberty insurance in Albuquerque a couple years back you will most likely find a better price today. Ignore everything you know about auto insurance because you’re about to find out the fastest and easiest way to find the best coverage while lowering your premiums.
The quickest method to compare rate quotes for Jeep Liberty insurance in Albuquerque takes advantage of the fact most of the bigger providers provide online access to compare rate quotes. The one thing you need to do is take a few minutes to give details such as whether the vehicles are used for commuting, how much you drive, your occupation, and driver details. Your insurance information is sent automatically to insurance carriers in your area and they return quotes instantly.
To check car insurance prices now, click here and complete the quick form.
The car insurance companies shown below offer comparison quotes in Albuquerque, NM. If you want to find the best cheap car insurance in NM, we suggest you get rates from several of them to get a more complete price comparison.
Coverage statistics and figures
The data table shown next outlines estimates of insurance policy prices for Jeep Liberty models. Learning as much as possible about how insurance premiums are calculated can benefit drivers when making decisions on which insurance to purchase.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Liberty Sport 2WD||$276||$412||$422||$24||$126||$1,260||$105|
|Liberty Limited 2WD||$316||$412||$422||$24||$126||$1,300||$108|
|Liberty Renegade 4WD||$316||$412||$422||$24||$126||$1,300||$108|
|Liberty Sport 4WD||$316||$412||$422||$24||$126||$1,300||$108|
|Liberty Limited 4WD||$316||$500||$422||$24||$126||$1,388||$116|
|Get Your Own Custom Quote Go|
Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Rate quotes do not factor in zip code location which can revise coverage rates noticeably.
Does it make sense to buy full coverage?
The information below visualizes the comparison of Jeep Liberty insurance rates with and without physical damage coverage. The rate quotes are based on no accidents or driving violations, $1,000 deductibles, drivers are single, and no discounts are factored in.
When to drop comprehensive and collision coverage
There is no definitive formula to stop paying for comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is more than about 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
For example, let’s assume your Jeep Liberty settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $7,000 after paying your deductible. If you are paying more than $700 a year to have full coverage, then you may need to consider dropping full coverage.
There are a few cases where removing full coverage is not in your best interest. If you haven’t paid off your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage in place.
Get cheaper rates by taking advantage of these five discounts
Insurance can be prohibitively expensive, but there could be available discounts to reduce the price significantly. Some trigger automatically when you quote, but some need to be specifically requested prior to receiving the credit.
- Buy New and Save – Insuring a new Liberty is cheaper since newer vehicles are generally safer.
- Government Employee Discount – Active or retired federal employment may reduce rates when you quote Albuquerque car insurance with a few car insurance companies.
- Driving Data Discount – Albuquerque drivers who agree to allow driving data submission to analyze where and when they drive by using a telematics device in their vehicle like Drivewise from Allstate or In-Drive from State Farm may get a rate reduction as long as the data is positive.
- No Charge for an Accident – Not a discount per se, but a few companies such as Liberty Mutual, GEICO and Allstate permit an accident before hitting you with a surcharge so long as you haven’t had any claims for a certain period of time.
- Professional Organizations – Being in qualifying employment or professional organizations is a simple method to lower premiums when shopping for car insurance.
Discounts lower rates, but most discounts do not apply to the entire cost. The majority will only reduce individual premiums such as liability and collision coverage. So when it seems like all the discounts add up to a free policy, you won’t be that lucky.
The example below illustrates the difference between Jeep Liberty yearly insurance costs with and without policy discounts. Data assumes a female driver, no accidents, no driving violations, New Mexico state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, homeowner, safe-driver, multi-car, and multi-policy discounts applied.
Popular car insurance companies and a selection of discounts are included below.
- State Farm includes discounts for multiple policy, good student, anti-theft, passive restraint, good driver, and driver’s education.
- American Family may have discounts that include good student, TimeAway discount, Steer into Savings, early bird, mySafetyValet, air bags, and multi-vehicle.
- GEICO discounts include emergency military deployment, driver training, five-year accident-free, federal employee, military active duty, membership and employees, and anti-lock brakes.
- 21st Century offers discounts including air bags, 55 and older, early bird, student driver, theft prevention, automatic seat belts, and teen driver.
- Progressive may include discounts for homeowner, good student, continuous coverage, online signing, multi-policy, multi-vehicle, and online quote discount.
If you want low cost Albuquerque car insurance quotes, ask each insurance company which discounts you qualify for. Some discounts might not apply in Albuquerque. If you would like to choose from a list of car insurance companies that offer multiple discounts in Albuquerque, click here to view.
Best reasons to buy car insurance in New Mexico
Even though it can be expensive, paying for car insurance serves several important purposes.
- Almost all states have compulsory liability insurance requirements which means state laws require a specific level of liability protection in order to drive the car legally. 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 have a loan on your Jeep Liberty, almost all lenders will force you to have comprehensive coverage to guarantee loan repayment. If you do not keep the policy in force, the bank or lender will purchase a policy for your Jeep at a much higher premium rate and force you to pay a much higher amount than you were paying before.
- Insurance protects both your Jeep Liberty and your personal assets. It will also provide coverage for medical transport and hospital expenses that are the result of an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.
The benefits of buying car insurance are without a doubt worth the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver overpays as much as $810 a year so it’s very important to do a rate comparison at least once a year to make sure the price is not too high.
Auto insurance quotes from local Albuquerque insurance agents
Certain consumers just want to get professional advice from a licensed agent and that is just fine! Good agents can point out coverage gaps and help file insurance claims. The biggest benefit of price shopping on the web is the fact that drivers can get cheap rate quotes and still choose a local agent.
To find an agent, once you fill out this simple form, the coverage information is submitted to companies in Albuquerque that give free quotes for your coverage. You won’t need to leave your house since rate quotes are delivered instantly to you. If you need to get a price quote from a specific insurance company, you just need to navigate to their website and submit a quote form there.
Finding the right provider requires more thought than just the price. You should also get answers to these questions.
- Do you work with a CSR or direct with the agent?
- Do they receive special compensation for putting your coverage with one company over another?
- Are they primarily personal or commercial lines agents in Albuquerque?
- Do they write coverage based solely on cost?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Does the agency provide any after hours assistance?
Two types of auto insurance agents
If you want to use a reliable agent, there are a couple of types of agencies that differ in how they can insure your vehicles. Auto insurance agents in Albuquerque are considered either exclusive or independent. Either type can handle auto insurance, but it’s important to know how they are different since it can affect which agent you choose.
Exclusive Insurance Agents
Exclusive insurance agents can only place business with one company and examples are Allstate, State Farm and Farm Bureau. They are unable to shop your coverage around so keep that in mind. Exclusive agents are highly trained on sales techniques which helps them compete with independent agents.
Below is a list of exclusive insurance agencies in Albuquerque that can give you price quote information.
Independent Insurance Agents
Agents that elect to be independent often have many company appointments so they have the ability to put coverage through many different auto insurance companies enabling the ability to shop coverage around. If premiums increase, the business is moved internally without you having to go to a different agency. When comparison shopping, you should always compare prices from several independent insurance agents in order to compare the most rates.
Listed below is a list of independent agencies in Albuquerque willing to provide comparison quotes.
J. B. Martin Insurance Agency
8500 Menaul Blvd NE #345 – Albuquerque, NM 87112 – (505) 888-8846 – View Map
Specific coverage details
Learning about specific coverages of auto insurance helps when choosing which coverages you need and proper limits and deductibles. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Shown next are typical coverage types found on the average auto insurance policy.
Medical expense insurance
Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for things like chiropractic care, nursing services and rehabilitation expenses. They can be utilized in addition to your health insurance plan or if you do not have health coverage. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage
Protection from uninsured/underinsured drivers
Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and damage to your Jeep Liberty.
Because many people only carry the minimum required liability limits (New Mexico limits are 25/50/10), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Comprehensive (Other than Collision)
Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like a tree branch falling on your vehicle, hail damage, falling objects and fire damage. The highest amount a auto insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Auto collision coverage
Collision insurance covers damage to your Liberty resulting from a collision with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.
Collision coverage protects against things like colliding with a tree, sustaining damage from a pot hole, rolling your car, hitting a parking meter and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. You can also bump up the deductible on your Liberty in order to get cheaper collision rates.
Coverage for liability
Liability coverage can cover damage or injury you incur to other people or property. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/10 which means $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.
Liability coverage protects against things like repair costs for stationary objects, medical expenses and repair bills for other people’s vehicles. How much liability should you purchase? That is up to you, but buy higher limits if possible. New Mexico state minimum liability requirements are 25/50/10 but drivers should carry more coverage.
The next chart demonstrates why low liability limits may not be high enough to cover claims.