Wish you could get out of an expensive auto insurance policy? It’s quite common and you’re not alone.
It’s hard to believe, but the vast majority of consumers have bought auto insurance from the same company for more than four years, and just under half have never even compared quotes to find cheaper rates. The average driver in Albuquerque could cut their rates by as much as 40% a year by just shopping around, but they mistakenly think it’s difficult to compare rates online.
Steps to saving on Chevy Cruze insurance in Albuquerque
Truthfully, the best way to find cheaper prices for auto insurance rates is to compare quotes annually from insurers who sell auto insurance in Albuquerque. Rates can be compared by following these steps.
- Step 1: Take a little time to learn about how auto insurance works and the steps you can take to drop your rates. Many rating factors that cause rate increases like multiple speeding tickets and a poor credit rating can be eliminated by paying attention to minor details.
- Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from a single company like GEICO and State Farm, while independent agents can provide prices from many different companies. View insurance agents
- Step 3: Compare the new rate quotes to your current policy premium to see if a cheaper rate is available in Albuquerque. If you find a lower rate quote, make sure the effective date of the new policy is the same as the expiration date of the old one.
An essential thing to point out is to make sure you’re comparing similar deductibles and liability limits on every price quote and and to look at as many different insurance providers as possible. This enables a level playing field and a complete rate analysis.
Many insurance companies compete for your hard-earned dollar, and it can be difficult to compare rates and uncover the absolute best rate on Chevy Cruze insurance in Albuquerque.
You should make it a habit to quote other rates every six months because insurance prices are rarely the same from one policy term to another. Just because you had the best price on Chevy Cruze insurance in Albuquerque on your last policy there is a good chance you can find better rate quotes now. Forget all the misinformation about auto insurance because I’m going to let you in on the secrets to the only way to save money, get proper deductibles and limits, all at the lowest rate.
If you currently have a car insurance policy, you will definitely be able to find the best rates using the techniques presented in this article. Choosing the best rates in Albuquerque can be made easier if you know where to look. Although New Mexico vehicle owners do need to know how big insurance companies market insurance on the web and use it to your advantage.
Cheap companies for Chevy Cruze insurance in New Mexico
The companies in the list below can provide price comparisons in New Mexico. If multiple companies are listed, we suggest you click on several of them to get the most affordable price.
Cheaper rates by taking advantage of these eight discounts
Some providers don’t always publicize every policy discount very well, so the list below gives a summary of a few of the more common and the harder-to-find credits available to lower your premiums when you buy Albuquerque car insurance online. If they aren’t giving you every credit you qualify for, you are paying more than you should be.
- Theft Deterrent Discount – Cars and trucks that have factory anti-theft systems have a lower chance of being stolen and can earn a small discount on your policy.
- Accident Forgiveness – Not a discount per se, but a handful of insurance companies will forgive one accident without the usual rate increase if you have no claims for a set time period.
- Seat Belts Save more than Lives – Forcing all vehicle occupants to buckle up may be able to save a few bucks on medical payment and PIP coverage.
- Drivers Education – Teen drivers should complete a driver education course if offered at their school.
- Savings for New Vehicles – Buying a new car model can be considerably cheaper because newer models have to meet stringent safety requirements.
- Resident Student – Children who are enrolled in higher education away from home and do not have a car can be insured at a reduced rate.
- Discount for Good Grades – A discount for being a good student could provide a savings of up to 20% or more. Many companies even apply the discount to college students up to age 25.
- Paper-free Discount – A handful of insurance companies provide a small discount just for signing your application over the internet.
As is typical with insurance, many deductions do not apply to all coverage premiums. The majority will only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though it sounds like all the discounts add up to a free policy, you won’t be that lucky. But any discount should definitely cut the premium cost.
Larger auto insurance companies and some of the premium reductions they offer are:
- Progressive offers discounts for good student, multi-vehicle, online signing, multi-policy, homeowner, and continuous coverage.
- MetLife includes discounts for defensive driver, multi-policy, good driver, claim-free, accident-free, good student
- Mercury Insurance may have discounts that include low natural disaster claims, good driver, multi-car, multi-policy, age of vehicle, and good student.
- Nationwide offers discounts including anti-theft, family plan, defensive driving, easy pay, and Farm Bureau membership.
- GEICO may include discounts for driver training, membership and employees, anti-theft, air bags, military active duty, seat belt use, and daytime running lights.
- AAA offers premium reductions for multi-policy, anti-theft, good driver, AAA membership discount, and pay-in-full.
If you need cheaper Albuquerque car insurance quotes, ask each insurance company the best way to save money. Discounts may not be offered in Albuquerque. To see auto insurance companies with the best discounts in New Mexico, follow this link.
Local Albuquerque insurance agencies
Many people would prefer to buy from a local agent and often times that is recommended One of the best bonuses of comparing insurance online is you can get better rates and still have a local agent. Buying insurance from small agencies is important particularly in Albuquerque.
To find an agent, once you fill out this short form, your information is immediately sent to companies in Albuquerque who will give competitive quotes and help you find cheaper coverage. It’s much easier because you don’t need to even leave your home since rate quotes are delivered straight to your inbox. You can find better rates and work with a local agent. If for some reason you want to quote rates for a specific company, you just need to find their quoting web page and complete a quote there.
If you need to find a reputable insurance agent or broker, it can be helpful to understand the different types of agencies and how they work. Insurance agencies are categorized either exclusive or independent (non-exclusive).
Independent Insurance Agents (or Brokers)
These type of agents are not employed by any specific company so they can write business with multiple insurance companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, the agent simply finds a different carrier without you having to go to a different agency.
When comparing rate quotes, we recommend you get some free quotes from independent agents to get the best comparison.
Featured below is a list of independent insurance agents in Albuquerque that may be able to give rate quotes.
J B Martin Commercial, Homeowners, Auto, Health and Life Insurance Agency
2800 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 299-7444 – View Map
Exclusive Insurance Agencies
These agents can usually just insure with one company such as Allstate, State Farm and Farmers Insurance. These agents are not able to compare rates from other companies so you might not find the best rates. They receive a lot of sales training on their company’s products and that can be a competitive advantage.
Below are Albuquerque exclusive insurance agents willing to provide comparison quotes.
Picking a car insurance agent needs to be determined by more than just a cheap price. Here are some questions you should ask.
- How are claims handled?
- How are they compensated?
- Are they full-time agents?
- Where would glass claims be handled in Albuquerque?
- Are they giving you every discount you deserve?
- Can they provide you with a list of referrals?
- Is there a Errors and Omissions policy in force?
If you feel you receive satisfactory answers to any questions you have as well as low cost Chevrolet Cruze insurance quotes, you may have found an insurance agent that is reliable enough to adequately provide insurance. But remember, you are entitled to cancel your coverage at any time so don’t feel that you are permanently stuck with the insurance policy for the entire policy term.
Auto insurance coverages explained
Understanding the coverages of a auto insurance policy can help you determine the best coverages and proper limits and deductibles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Shown next are the normal coverages found on most auto insurance policies.
Comprehensive insurance coverage covers damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive can pay for things such as a broken windshield, hail damage, a tree branch falling on your vehicle and theft. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
Auto collision coverage
Collision insurance pays to fix your vehicle from damage resulting from a collision with another car or object. A deductible applies then your collision coverage will kick in.
Collision coverage protects against claims such as driving through your garage door, sustaining damage from a pot hole and sideswiping another vehicle. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to bump up the deductible on your Cruze to save money on collision insurance.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists do not carry enough liability coverage. Covered claims include hospital bills for your injuries and damage to your Chevy Cruze.
Since a lot of drivers only carry the minimum required liability limits (25/50/10 in New Mexico), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Normally these limits do not exceed the liability coverage limits.
This coverage provides protection from damage or injury you incur to people or other property by causing an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/10 which stand for $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. Alternatively, you may have one number which is a combined single limit which limits claims to one amount with no separate limits for injury or property damage.
Liability coverage pays for claims like legal defense fees, pain and suffering and medical services. How much liability should you purchase? That is a personal decision, but consider buying as much as you can afford. New Mexico state minimum liability requirements are 25/50/10 but you should think about purchasing better liability coverage.
The chart below demonstrates why the minimum limit may not be high enough to cover claims.
Coverage for medical payments
Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like funeral costs, ambulance fees, chiropractic care and prosthetic devices. They are utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage
Don’t give up on cheap premiums
You just read many ways to reduce Chevy Cruze insurance premium rates online in Albuquerque. The most important thing to understand is the more quotes you get, the higher your chance of finding affordable Chevrolet Cruze insurance quotes. Drivers may even discover the most savings is with a smaller regional carrier. These companies may cover specific market segments cheaper compared to the large companies like Allstate or State Farm.
When shopping online for car insurance, never reduce needed coverages to save money. There are many occasions where consumers will sacrifice collision coverage and discovered at claim time that the few dollars in savings costed them thousands. The ultimate goal is to purchase a proper amount of coverage at the lowest possible cost while not skimping on critical coverages.
Steps to finding cheaper Chevy Cruze insurance in Albuquerque
If you want to save money, the best way to get budget Chevy Cruze insurance in Albuquerque is to make a habit of regularly comparing prices from insurance carriers who can sell car insurance in New Mexico.
Step 1: Gain an understanding of car insurance and the measures you can take to prevent rate increases. Many rating factors that result in higher prices such as traffic citations and a not-so-good credit history can be rectified by making minor changes in your lifestyle.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from a single company like GEICO or Farmers Insurance, while agents who are independent can give you price quotes for many different companies. Compare rates now
Step 3: Compare the quotes to the premium of your current policy to see if a cheaper rate is available. If you find a better price and buy the policy, make sure there is no coverage gap between policies.
Step 4: Provide notification to your current agent or company of your intent to cancel your current coverage and submit payment and a completed application to your new company or agent. Once received, safely store the proof of insurance certificate above your visor, in the console, or in the glove compartment.
A crucial key to this process is to try to compare the same level of coverage on each price quote and and to get price quotes from as many different companies as possible. Doing this provides the most accurate price comparison and the best price selection.
To learn more, feel free to browse the resources below:
- What is Gap Insurance? (Insurance Information Institute)
- What Auto Insurance is Cheapest for High Risk Drivers in Albuquerque? (FAQ)
- How Much is Auto Insurance for Teenage Females in Albuquerque? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Immigrants in Albuquerque? (FAQ)
- What Insurance is Cheapest for Hybrid Vehicles in Albuquerque? (FAQ)
- Who Has Cheap Car Insurance for Felons in Albuquerque? (FAQ)
- Rollover Crash FAQ (iihs.org)
- Car Insurance: When not to Skimp (BankRate.com)
- What to do at the Scene of an Accident (Insurance Information Institute)
- What Does No-Fault Insurance Cover? (Allstate)