We don’t have to tell you that car insurance companies want to keep you from shopping around. People who compare other rates will most likely switch companies because of the good chance of finding a cheaper policy. A survey found that people who shopped around annually saved as much as $3,400 over four years as compared to drivers who never compared rates.
If finding the lowest price on insurance in Albuquerque is your ultimate target, then understanding how to shop for car insurance can help you be more efficient.
If your goal is the lowest price, then the best way to get low-cost auto insurance rates in Albuquerque is to start comparing rates regularly from providers who provide car insurance in New Mexico.
- Take a little time to learn about how companies set rates and the measures you can control to prevent expensive coverage. Many factors that result in higher rates such as traffic citations and a negative credit rating can be rectified by making minor driving habit or lifestyle changes. Later in this article we will cover more ideas to get low prices and find hidden discounts.
- Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from one company like Progressive or Allstate, while agents who are independent can provide price quotes for many different companies.
- Compare the new rate quotes to your existing coverage to see if a cheaper price is available. If you can save money and change companies, make sure coverage is continuous and does not lapse.
One tip to remember is to use the same deductibles and limits on every price quote and and to get quotes from as many auto insurance providers as possible. Doing this guarantees an accurate price comparison and many rates to choose from.
Locating the best rates in Albuquerque is actually not that difficult if you follow our advice. If you are insured now, you will most likely be able to save money using the tips covered below. Although New Mexico car owners should learn how companies calculate their prices because it can help you find the best coverage.
When quoting insurance, remember that comparing more quotes helps increase your odds of locating the best rates.
The companies in the list below can provide free quotes in New Mexico. If you want to find cheap auto insurance in Albuquerque, NM, we suggest you visit several of them in order to find the lowest rates.
Get lower-cost Ford GT insurance in Albuquerque with discounts
Auto insurance companies don’t list every discount very clearly, so the list below gives a summary of some of the best known and also the lesser-known credits that you can use to lower your rates. If you do not check that you are getting every discount you deserve, you’re just leaving money on the table.
- E-sign Discounts – Some car insurance companies may give you up to $50 for completing your application on their website.
- Use Seat Belts – Drivers who require all vehicle occupants to buckle their seat belts could save 15% off the personal injury premium cost.
- ABS Brakes – Cars with anti-lock braking systems can stop better under adverse conditions so you can save 10 percent or more.
- Professional Organizations – Being a member of a qualifying organization is a simple method to lower premiums on your next car insurance statement.
- Data Collection Discounts – People who choose to allow data collection to track vehicle usage remotely such as Allstate’s Drivewise and State Farm’s In-Drive system could possibly reduce rates if they show good driving skills.
- Air Bags and Passive Restraints – Cars that have air bags and/or automatic seat belt systems can receive discounts of 25 to 30%.
- Defensive Driver Discount – Taking time to complete a defensive driver course can save you 5% or more and easily recoup the cost of the course.
- Sign Early and Save – A few car insurance companies offer discounts for buying a policy before your current expiration date. The savings is around 10%.
Drivers should understand that most of the big mark downs will not be given to the overall cost of the policy. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like you can get free auto insurance, you won’t be that lucky.
If you would like to choose from a list of car insurance companies offering car insurance discounts in Albuquerque, click here to view.
Why you need insurance
Despite the high cost, insurance serves several important purposes.
- Just about all states have minimum liability requirements which means you are required to carry a specific minimum amount of liability protection if you drive a 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, almost every bank will require you to have full coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the lender will be forced to insure your Ford at a much higher rate and force you to pay a much higher amount than you were paying before.
- Insurance preserves not only your Ford but also your financial assets. It also can pay for all forms of medical expenses for not only you but also any passengers injured in an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of carrying adequate insurance definitely exceed the cost, especially with large liability claims. On average, a vehicle owner in Albuquerque is wasting up to $810 a year so compare quotes from several companies once a year at a minimum to save money.
How do I know if I need professional advice?
When buying your policy for your personal vehicles, there really is no perfect coverage plan. Each situation is unique.
Here are some questions about coverages that might help in determining whether your personal situation might need professional guidance.
- Is rental equipment covered for theft or damage?
- When should I not file a claim?
- Can I cancel at any time?
- Is there a penalty for late payment?
- Why does it cost so much to insure a teen driver in Albuquerque?
- Does every company file a SR-22 automatically?
- What is high-risk coverage and where do I buy it?
- How high should deductibles be on a Ford GT?
If you don’t know the answers to these questions then you might want to talk to a licensed agent. If you don’t have a local agent, complete this form.
What if I want to buy from local Albuquerque car insurance agents?
Some people still like to get advice from a local agent and often times that is recommended The biggest benefit of comparing insurance online is you can get lower rates and still have a local agent.
To find an agent, once you fill out this form (opens in new window), the coverage information gets sent to agents in your area who will gladly provide quotes for your coverage. It makes it easy because there is no need to find an agent on your own since price quotes are sent to your email. You can find better rates and an insurance agent to talk to. If you want to get a comparison quote from a specific insurance company, you just need to find their quoting web page and complete a quote there.
Choosing an insurance company should include more criteria than just a cheap quote. Any good agent in Albuquerque should know the answers to these questions.
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- What is the financial rating for the quoted company?
- Do they have cheaper tiers of coverage?
- Are claim adjusters local or do you have to take your car somewhere else?
- How often do they review policy coverages?
- What discounts might you be missing?
If you are wanting to purchase insurance from a local Albuquerque insurance agency, there are two different types of agents to choose from. Agencies in Albuquerque are categorized either exclusive or independent (non-exclusive).
Exclusive Insurance Agencies
Agents in the exclusive channel can only provide one company’s prices such as Allstate, State Farm and Farm Bureau. Exclusive agents cannot give you multiple price quotes so they have to upsell other benefits. Exclusive agencies are trained well on the products they sell which helps offset the inability to provide other markets. Some insured continue to buy from the same agent for years primarily because of the brand name rather than low price.
Below is a short list of exclusive insurance agencies in Albuquerque that are able to give price quote information.
- Paul Whitson – State Farm Insurance Agent
8300 Carmel Ave NE #502 – Albuquerque, NM 87122 – (505) 888-1991 – View Map - Tim Gallegos – State Farm Insurance Agent
1100 Coors Blvd SW, Ste B2 – Albuquerque, NM 87121 – (505) 200-2319 – View Map - Art Sandoval – State Farm Insurance Agent
5555 Montgomery Blvd NE #19 – Albuquerque, NM 87109 – (505) 338-0300 – View Map
Independent Insurance Agents
Agents that elect to be independent often have many company appointments and that enables them to quote your coverage through many companies and find you the best rates. If your agent finds better pricing, an independent agent can move your coverage and you don’t have to switch agencies. If you are trying to find cheaper rates, you definitely need to get rate quotes from at a minimum one independent agency to maximize your price options. Many write coverage with mutual insurance companies that many times have cheaper rates.
Listed below are Albuquerque independent insurance agencies willing to provide price quotes.
- Lorraine Y Chavez Insurance Agency, Inc.
8224 Louisiana Blvd NE – Albuquerque, NM 87113 – (505) 821-7123 – View Map - Webster Insurance Agency Inc
1201 Eubank Blvd Suite 3 – Albuquerque, NM 87112 – (505) 294-1497 – View Map - Daniels Insurance Inc
320 Gold Ave SW # 700 – Albuquerque, NM 87102 – (505) 766-9676 – View Map