Has it been a year or more since you last compared quotes for low-cost car insurance rates in Albuquerque, NM? Albuquerque drivers have options when trying to find low-cost Lexus ES 350 insurance. They can either spend hours struggling with agents to compare prices or leverage the internet to make rate comparisons.
There is a better way to find car insurance online and you need to know the best way to quote coverages for a new or used Lexus and get the lowest price from Albuquerque insurance agents and online providers.
It is always a good idea to price shop coverage periodically since prices fluctuate regularly. Even if you got the best rates on Lexus ES 350 insurance in Albuquerque last year you may be paying too much now. Block out anything you think you know about car insurance because I’m going to let you in on the secrets to one of the easiest ways to lower your rates without sacrificing coverage.
The cheapest Albuquerque Lexus ES 350 insurance
The majority of larger companies give insurance quotes online. The process is fairly simple as all you need to do is type in the coverages you want on the page. After you submit the form the company’s rating system will order your credit score and driving record and returns a price quote.
The ability to get online rates for Lexus ES 350 insurance in Albuquerque makes it simple to compare prices and it’s necessary to compare as many rates as possible if you want to find affordable prices.
If you want to compare rates using this form now, compare rates from the companies below. To compare your current rates, we recommend you enter the limits and deductibles just like they are on your policy. This helps ensure you will be getting a price comparison for exact coverage.
The companies shown below are ready to provide quotes in New Mexico. If you wish to find cheap auto insurance in NM, we recommend you visit as many as you can to get the most competitive price.
Rates and statistics
The premium information shown below outlines estimates of coverage costs for Lexus ES 350 models. Having a good grasp of how policy rates are figured can be valuable when making decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| ES 350 | $300 | $666 | $288 | $18 | $86 | $1,358 | $113 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Price estimates do not factor in vehicle garaging location which can affect price quotes noticeably.
Insurance rate increases from tickets or accidents
The information below demonstrates how citations and accidents can affect Lexus ES 350 premium costs for different age groups of insureds. The rates are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.
How much more does full coverage cost in Albuquerque?
The information below visualizes the comparison of Lexus ES 350 insurance rates with full coverage compared to only the New Mexico minimum liability coverage. The premium estimates are based on no driving violations, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are factored in.
When to stop buying full coverage
There is no exact formula to stop buying full coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.
For example, let’s say your Lexus ES 350 replacement cost is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $6,000 after the deductible is paid. If it’s costing in excess of $600 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some scenarios where dropping full coverage is not advised. If you haven’t satisfied your loan, you have to keep full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not drop full coverage.
Lexus ES 350 insurance discounts in Albuquerque
Companies that sell car insurance do not advertise all their discounts in an easy-to-find place, so we researched a few of the more well known in addition to some of the lesser obvious credits that may apply to you.
- Active Service Discounts – Having a family member in the military could qualify you for better rates.
- Bundle and Save – If you can combine your home and auto policy with one company you could get a discount of at least 10% off all policies.
- Mature Driver Discount – Drivers over the age of 55 can possibly qualify for a small decrease in premiums.
- Multi-line Discount – Companies who offer life insurance give better rates if you take out auto and life insurance together.
- Multi-Vehicle Discounts – Drivers who insure multiple vehicles on a single policy may reduce the rate for each vehicle.
Policy discounts save money, but most discount credits are not given to the entire policy premium. Most only cut individual premiums such as comp or med pay. Even though it appears all the discounts add up to a free policy, it’s just not the way it works.
The chart below visualizes the comparison of Lexus ES 350 car insurance rates with and without discounts being applied to the rates. The rate quotes are based on a male driver, no driving violations, no at-fault accidents, New Mexico state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, multi-car, marriage, claim-free, and safe-driver discounts applied.
Some of the larger companies that have these discounts may include but are not limited to:
It’s a good idea to ask each insurance company the best way to save money. Some discounts might not apply in Albuquerque. To locate insurance companies that offer some of these discounts in Albuquerque, click here.
Choosing the best Lexus ES 350 insurance in New Mexico is an important decision
Despite the fact that car insurance is not cheap in Albuquerque, maintaining insurance is most likely required but also gives you several important benefits.
- Just about all states have mandatory insurance requirements which means the state requires specific limits of liability insurance if you want to drive 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 took out a loan on your Lexus, more than likely the lender will make it a condition of the loan that you buy full coverage to protect their interest in the vehicle. If you default on your policy, the lender will be forced to insure your Lexus for a much higher rate and require you to pay for the expensive policy.
- Insurance safeguards your car and your assets. Insurance will also pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, also covers legal 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 cover the repair costs.
The benefits of having car insurance are without a doubt worth the cost, particularly if you ever have a claim. According to a recent study, the average American driver is currently overpaying as much as $820 a year so compare rate quotes at every policy renewal to ensure rates are competitive.
When to get professional advice
When choosing your policy for your vehicles, there isn’t really a “perfect” insurance plan. Your financial needs are unique so your insurance needs to address that.
These are some specific questions might help in determining whether or not you would benefit from professional advice.
- Are my friends covered when driving my car?
- If my car is totaled with they pay enough to replace it?
- How high should deductibles be on a Lexus ES 350?
- How can I find cheaper teen driver insurance?
- Does my policy pay for OEM or aftermarket parts?
- Should I buy full coverage?
- Do I need to file an SR-22 for a DUI in New Mexico?
- If I use my vehicle for business use is it covered?
- Does my car insurance cover rental cars?
If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, complete this form or go to this page to view a list of companies. It only takes a few minutes and can provide invaluable advice.
Insurance agents near you
Many drivers just want to talk to an insurance agent and we recommend doing that Good agents will help you protect your assets and give you someone to call. The biggest benefit of price shopping on the web is the fact that you can find cheap auto insurance quotes and still have a local agent. And supporting neighborhood insurance agencies is especially important in Albuquerque.
After completing this quick form, your insurance data is immediately sent to companies in Albuquerque that can provide free Albuquerque auto insurance quotes for your coverage. It makes it easy because there is no need to find an agent on your own because prices are sent to you. In the event you want to compare rates from a specific auto insurance provider, feel free to visit that company’s website and fill out the quote form the provide.
Exclusive agents vs. Independent agents
If you’re trying to find a local Albuquerque insurance agent, it’s important to understand the different agency structures and how they are distinctly different. Agents are considered either exclusive agents or independent agents. Either can insure your vehicles properly, but it’s worth mentioning why they differ because it can factor into the type of agent you choose.
Independent Auto Insurance Agencies or Brokers
Independent agents are not locked into one company and that is an advantage because they can write policies with a variety of different insurance companies and help determine which has the cheapest rates. If you are not satisfied with one company, they simply move the coverage in-house which requires no work on your part.
If you need cheaper auto insurance rates, you will definitely want to contact at a minimum one independent agency to ensure the widest selection of prices. Many write coverage with companies you’ve never heard of which can save you money.
Below is a partial list of independent agencies in Albuquerque who can help you get competitive price quotes.
- J. B. Martin Insurance Agency
8500 Menaul Blvd NE #345 – Albuquerque, NM 87112 – (505) 888-8846 – View Map - J B Martin Commercial, Homeowners, Auto, Health and Life Insurance Agency
2800 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 299-7444 – View Map - Associated Insurance Professionals, Inc
1429 Carlisle Blvd NE – Albuquerque, NM 87110 – (505) 265-3704 – View Map
Exclusive Auto Insurance Agencies
Agents that choose to be exclusive can only provide pricing for a single company such as Farmers Insurance and State Farm. Exclusive agents cannot place coverage with different providers so if the price isn’t competitive there isn’t much they can do. Exclusive insurance agents are highly trained on what they offer which helps them compete with independent agents. Consumers frequently purchase coverage from exclusives primarily because of the brand name rather than low rates.
The following is a short list of exclusive insurance agents in Albuquerque who can help you get price quote information.
- Paul Whitson – State Farm Insurance Agent
8300 Carmel Ave NE #502 – Albuquerque, NM 87122 – (505) 888-1991 – View Map - Michele Romero – State Farm Insurance Agent
3904 Carlisle Blvd NE c – Albuquerque, NM 87107 – (505) 881-7000 – View Map - Cindy Maxwell – State Farm Insurance Agent
8244 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 883-9000 – View Map
Selecting a car insurance agent shouldn’t rely on just a cheap price quote. Any agent in Albuquerque should have no problem answering these questions:
- Does the agency support the community they serve?
- Does the quote include credit and driving reports?
- How would your car be valued if totaled?
- Is insurance their full-time profession?
- Can they give you a list of client referrals?
- What company holds the largest book of business for them?
- Do they review policy coverages at every renewal?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.