If saving money is your primary concern, then the best way to get budget car insurance rates in Albuquerque is to start doing a yearly price comparison from companies that sell auto insurance in New Mexico. This can be done by completing these steps.
First, try to learn a little about how car insurance works and the modifications you can make to prevent expensive coverage. Many factors that cause high rates such as speeding tickets, accidents and an unacceptable credit history can be remedied by making minor driving habit or lifestyle changes.
Second, quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO and Allstate, while independent agencies can provide prices for a wide range of insurance providers.
Third, compare the new rate quotes to the price on your current policy and see if you can save money. If you find a lower rate, verify that coverage does not lapse between policies.
The key aspect of shopping around is to use the same deductibles and limits on every quote request and and to look at as many car insurance companies as possible. This provides an accurate price comparison and a thorough price selection.
Unbelievable but true, almost 70% of drivers in New Mexico have bought car insurance from the same company for more than four years, and approximately 40% of consumers have never quoted rates to find affordable coverage. American drivers could save themselves 47% a year just by shopping around, but they think it’s difficult to shop around.
When shopping for affordable Tesla Model S insurance quotes, there are a couple of ways to compare prices from lots of New Mexico car insurance companies. The easiest way by far to find the lowest Tesla Model S rates is to perform an online rate comparison.
Comparison shopping quotes online is easy and it makes it a waste of time to actually drive to insurance agents’ offices. The internet has reduced the need for local agents unless you have a need for the peace of mind of an agent trained in personal lines coverage. Some companies do allow you to compare the best prices online and still use a local agent.
When quoting car insurance, remember that comparing a wide range of rates helps increase your odds of locating a lower rate. Some regional insurers cannot provide online rate quotes, so it’s important to compare rates from them, too.
The following companies offer quotes in Albuquerque, NM. If you want to find the best auto insurance in NM, it’s a good idea that you compare several of them in order to get a fair rate comparison.
Determine discounts to get cheap Albuquerque car insurance rates
Companies that sell car insurance don’t list their entire list of discounts in a way that’s easy to find, so here is a list some of the more common and also the more inconspicuous credits available to lower your premiums when you buy Albuquerque car insurance online. If you aren’t receiving every discount available, you could be getting lower rates.
- Claim Free – Albuquerque drivers who stay claim-free are rewarded with significantly better rates on Albuquerque car insurance quote in comparison to drivers with a long claim history.
- Pay Now and Pay Less – If you can afford to pay the entire bill instead of monthly or quarterly installments you may reduce your total bill.
- Seat Belts Save – Using a seat belt and requiring all passengers to fasten their seat belts may be able to save a few bucks off the medical payments premium.
- Discount for Passive Restraints – Vehicles equipped with air bags may get savings up to 30%.
- Fewer Miles Equal More Savings – Maintaining low annual mileage may allow you to get better prices on cars that stay parked.
Consumers should know that most discounts do not apply to the entire policy premium. Some only reduce the price of certain insurance coverages like collision or personal injury protection. Even though the math looks like all those discounts means the company will pay you, that’s just not realistic.
To choose providers who offer discounts in New Mexico, click this link.
Auto insurance agents can help
Some consumers just prefer to talk to a local agent and that is recommended in a lot of cases A good thing about comparing car insurance online is that you can obtain the lowest rates and also buy local. Putting coverage with neighborhood agents is still important in Albuquerque.
To make it easy to find an agent, after completing this simple form, the coverage information gets sent to agents in your area who will return price quotes to get your business. There is no need to contact any agents due to the fact that quote results will go to the email address you provide. You can get cheaper car insurance rates without a big time investment. In the event you want to compare rates from a specific insurance company, you can always go to their quote page and give them your coverage information.
Independent or Exclusive: It’s your choice
If you prefer to buy car insurance from a local insurance agency, it’s important to understand the different types of agencies that you can select. Car insurance agents may be either exclusive agents or independent agents.
Independent Agents
These type of agents can sell policies from many different companies and that gives them the ability to insure with an assortment of companies and find the cheapest car insurance rates. If your agent finds better pricing, your agent can just switch to a different company which requires no work on your part.
When comparing rate quotes, we recommend you check rates from several independent agencies to ensure the widest selection of prices.
Shown below is a partial list of independent agents in Albuquerque that may be able to give you price quotes.
Commercial West Insurance
2616 Mesilla St NE #2 – Albuquerque, NM 87110 – (505) 255-9577 – View Map
Webster Insurance Agency Inc
1201 Eubank Blvd Suite 3 – Albuquerque, NM 87112 – (505) 294-1497 – View Map
J. B. Martin Insurance Agency
8500 Menaul Blvd NE #345 – Albuquerque, NM 87112 – (505) 888-8846 – View Map
Exclusive Insurance Agents
Exclusive agents can only provide pricing for a single company like Allstate, State Farm and Farmers Insurance. They generally cannot compare other company’s rates so you need to shop around if the rates are high. They receive a lot of sales training on their company’s products which helps them compete with independent agents.
Listed below are exclusive insurance agents in Albuquerque that are able to give price quote information.
Allstate Insurance: Valerie Muldez
8101 San Pedro Dr NE, Ste C1 – Albuquerque, NM 87113 – (505) 881-5056 – View Map
Rick Paul – State Farm Insurance Agent
1111 Alameda Blvd NW – Albuquerque, NM 87114 – (505) 898-2356 – View Map
Beth Wells – State Farm Insurance Agent
7400 Montgomery Blvd NE #5 – Albuquerque, NM 87109 – (505) 883-3742 – View Map
Choosing the best insurance agency should depend on more than just the quoted price. The questions below may impact your decision as well.
- How much experience to they have in personal lines coverages?
- If independent agents, which companies do they recommend?
- Is there a 24/7 contact number?
- Are they in the agency full-time?
- Are claim adjusters local or do you have to take your car somewhere else?
- Is there any savings for paying the full premium?
Insurance does more than just protect your car
Even though Albuquerque Model S insurance rates can get expensive, maintaining insurance is not optional due to several reasons.
- The majority of states have mandatory insurance requirements which means it is punishable by state law to not carry specific limits of liability insurance coverage in order to get the vehicle licensed. 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 Tesla Model S, almost every bank will force you to have comprehensive coverage to protect their interest in the vehicle. If the policy lapses, the bank or lender will purchase a policy for your Tesla at a much higher premium rate and require you to reimburse them the higher price.
- Insurance safeguards both your assets and your Tesla. It will also reimburse you for many types of medical costs for not only you but also any passengers injured in an accident. Liability coverage, the one required by state law, will also pay for a defense attorney in the event you are sued. If you have damage to your Tesla as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of buying insurance are without a doubt worth the cost, particularly when you have a large claim. An average driver in America is currently overpaying as much as $865 each year so you should quote and compare rates each time the policy renews to save money.
Detailed coverages of your auto insurance policy
Knowing the specifics of a auto insurance policy helps when choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. These are the usual coverages offered by auto insurance companies.
Liability – Liability insurance will cover damages or injuries you inflict on other people or property by causing an accident. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/10 that means you have $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and a limit of $10,000 paid for damaged property. Occasionally you may see one number which is a combined single limit that pays claims from the same limit without having the split limit caps.
Liability insurance covers claims such as attorney fees, medical services, legal defense fees and bail bonds. The amount of liability coverage you purchase is a personal decision, but consider buying higher limits if possible. New Mexico state minimum liability requirements are 25/50/10 but it’s recommended drivers buy higher limits.
The next chart demonstrates why minimum state limits may not be enough coverage.
Collision coverage – This coverage pays for damage to your Model S resulting from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision can pay for things like colliding with another moving vehicle, hitting a mailbox and damaging your car on a curb. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to raise the deductible on your Model S to bring the cost down.
Comprehensive protection – This coverage covers damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims like theft, rock chips in glass, hail damage and falling objects. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family and damage to your Tesla Model S.
Because many people have only the minimum liability required by law (New Mexico limits are 25/50/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Most of the time the UM/UIM limits do not exceed the liability coverage limits.
Medical expense coverage – Medical payments and Personal Injury Protection insurance provide coverage for bills for things like EMT expenses, doctor visits and surgery. The coverages can be used in conjunction with a health insurance plan or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
Albuquerque car insurance companies
Choosing a highly-rated car insurance company is hard considering how many different companies insure vehicles in Albuquerque. The rank data shown next can help you pick which companies you want to consider when shopping around.
Top 10 Albuquerque Car Insurance Companies Ranked by Value
- USAA
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
- Nationwide
- Safeco
Top 10 Albuquerque Car Insurance Companies Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- Progressive
- Liberty Mutual
- GEICO
- Allstate
- Titan Insurance
- The Hartford
- Mercury Insurance
Persistent drivers can save
You just learned quite a bit of information on how to save on Tesla Model S insurance in Albuquerque. The most important thing to understand is the more you quote Albuquerque car insurance, the better your chances of lowering your auto insurance rates. You may even be surprised to find that the biggest savings come from a lesser-known regional company. These companies may have significantly lower auto insurance rates on certain market segments compared to the large companies like Allstate, GEICO and Progressive.
Lower-priced Tesla Model S insurance in Albuquerque is definitely available on the web in addition to local insurance agencies, so you need to quote Albuquerque car insurance with both so you have a total pricing picture. Some car insurance companies may not provide the ability to get a quote online and many times these small insurance companies only sell through independent agents.
When buying insurance coverage, make sure you don’t buy lower coverage limits just to save a few bucks. Too many times, an insured dropped full coverage only to find out that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to buy the best coverage you can find at the lowest possible cost, but do not skimp to save money.
Much more information about car insurance in New Mexico is located at these links:
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Who Has Cheap Auto Insurance Quotes for First-time Drivers in Albuquerque? (FAQ)
- What Car Insurance is Cheapest for Teachers in Albuquerque? (FAQ)
- How Much are Albuquerque Auto Insurance Quotes for a Ford Focus? (FAQ)
- Who Has Affordable Albuquerque Auto Insurance Quotes for Used Cars? (FAQ)
- How Much is Car Insurance for Low Mileage Drivers in Albuquerque? (FAQ)
- Who Has Cheap Car Insurance for Felons in Albuquerque? (FAQ)
- What Insurance is Cheapest for a Kia Optima in Albuquerque? (FAQ)
- Understanding your Policy (NAIC.org)
- How to Avoid Staged Accidents (State Farm)
- What does Personal Injury Protection (PIP) Cover? (Allstate)