Find Cheaper Albuquerque Auto Insurance

How to find cheaper Albuquerque car insurance rates

New Mexico drivers who compare rates at least once a year are most likely to pay the least for auto insurance. Here are four steps to finding cheaper rates in Albuquerque.

  1. It will benefit you to learn about how companies price auto insurance and the changes you can make to lower rates. Many things that increase rates like traffic citations and a bad credit rating can be improved by paying attention to minor details. This article provides additional ideas to find cheap rates and get additional discounts that may be available.
  2. Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from one company like Progressive and State Farm, while independent agencies can provide rate quotes for a wide range of insurance providers.
  3. Compare the new rates to your current policy and determine if there is any savings. If you can save money and decide to switch, verify that coverage does not lapse between policies.
  4. Provide written notification to your current company of your decision to cancel your existing policy and submit payment and a completed application for your new policy. As soon as you have the new policy, place your new certificate verifying coverage in your glove compartment.

The most important part of this process is that you'll want to make sure you compare the same level of coverage on each quote and and to compare as many car insurance companies as possible. This helps ensure an accurate price comparison and a complete rate analysis.

Albuquerque, New Mexico Car Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Titan Insurance 90 87 91 95% A+ 89.6
Progressive 84 91 93 87% A+ 89.5
Mercury Insurance 88 91 90 85% A+ 89.4
Allstate 85 90 92 88% A+ 89.3
Nationwide 87 88 84 90% A+ 88.7
Liberty Mutual 84 87 93 88% A 88.5
21st Century 85 86 87 88% A 86.7
Esurance 85 80 95 87% A+ 85.9
Safeco 85 85 85 86% A 85.8
Travelers 80 87 87 83% A++ 85.2
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Tickets and at-fault accidents raise rates

The information below demonstrates how traffic citations and accidents increase auto insurance costs for each age group. The rate quotes are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.

Whether or not you have cheap auto insurance coverage depends on many different factors, but the average policy rate in Albuquerque is right around $1,200 every 12 months. The cost of Albuquerque car insurance depends on many variables, and one of the largest considerations is the car, truck, or SUV you are insuring. The rate data below shows estimated prices for some of the most popular vehicles in Albuquerque.

Car Insurance Rates for Popular Vehicles in Albuquerque
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Chevrolet Colorado LT Extended Cab 4WD $730 $365 $61
Chevrolet Equinox LTZ 2WD $936 $468 $78
Chevrolet Impala LS $846 $423 $71
Chevrolet Malibu Hybrid $866 $433 $72
Chevrolet Silverado LT Regular Cab $920 $460 $77
Dodge Ram Crew Cab ST 4WD $940 $470 $78
Ford Escape XLT 4WD $750 $375 $63
Ford F-150 FX4 4WD $886 $443 $74
Ford Focus SES 4-Dr Sedan $896 $448 $75
Honda Accord LX-P 4-Dr Sedan $730 $365 $61
Honda CR-V EX-L 4WD $750 $375 $63
Honda Civic SI 2-Dr Coupe $1,144 $572 $95
Hyundai Elantra Blue 4-Dr Sedan $896 $448 $75
Hyundai Sonata GLS 4-Dr Sedan $920 $460 $77
Mazda 3 S Sport 4-Dr Sedan $936 $468 $78
Nissan Altima Hybrid 4-Dr Sedan $936 $468 $78
Toyota Camry SE $916 $458 $76
Toyota Corolla XRS $936 $468 $78
Toyota Tacoma Double Cab 4WD $886 $443 $74
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Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Prices do not factor in the specific area where the vehicle is garaged which can influence insurance rates greatly.

Top 15 cheapest vehicles to insure in Albuquerque, NM
Honda Fit
Hyundai Accent
Mini Cooper
Honda Accord
Kia Rondo
Mazda MX-5 Miata
Ford Escape
Chrysler PT Cruiser
Hyundai Elantra
Honda CR-V
Chevrolet Colorado
Mazda 5
Ford F-150
Nissan Xterra
Jeep Wrangler
Top 15 most expensive vehicles to insure in Albuquerque, NM
Mercedes-Benz S65 AMG
Mercedes-Benz CL65 AMG
Audi R8
Mercedes-Benz CL600
Mercedes-Benz CL63 AMG
Mercedes-Benz S600
BMW 760L
BMW M6
Mercedes-Benz S63 AMG
Porsche 911
Mercedes-Benz CL550
Porsche Panamera
TESLA Roadster
Chevrolet Corvette
Porsche Cayenne
Top 15 safest vehicles to insure in Albuquerque, NM
Volvo XC60
Jeep Wrangler
Ford Fusion
Ford Expedition EL
Toyota FJ Cruiser
Audi Q7
Chrysler Town and Country
GMC Sierra
Chevrolet Silverado 2500HD
Ford F-150
Chevrolet Equinox
Chevrolet Tahoe
Buick Enclave
Chevrolet Suburban
GMC Yukon

Why you need to buy auto insurance

First, almost all states have mandatory liability insurance requirements which means you are required to buy specific limits of liability 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.

Second, if you have a loan on your vehicle, most lenders will make it mandatory that you have full coverage to ensure loan repayment if the vehicle is totaled. If the policy lapses, the bank may insure your vehicle for a lot more money and force you to pay for the expensive policy.

Third, car insurance protects not only your vehicle but also your assets. It will also cover most medical and hospital costs for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance also covers legal expenses if you are sued as the result of your driving. If your vehicle gets damaged, collision and comprehensive coverages will cover the repair costs.

The benefits of insuring your vehicle are without a doubt worth the cost, particularly if you ever have a claim. But the average driver in New Mexico is overpaying over $855 a year so it's recommended you shop around at every renewal to save money.