I can’t think of anyone who likes paying for insurance, in particular when their premiums are too high.
Surprisingly, a recent survey revealed that nearly 70% of customers have remained with the same insurance company for at least the last four years, and practically 40% of insurance customers have never even compared quotes to find cheap rates. Many drivers in Albuquerque can save up to $500 each year by just shopping around, but they don’t believe the amount of money they would save if they replace their high priced policy. There is such a variety of car insurance companies to pick from, and although it’s a good thing to be able to choose, lots of choices makes it harder to locate the cheapest rates for Ford Five Hundred insurance in Albuquerque.
Consumers need to quote other rates once or twice a year because insurance prices are adjusted regularly by insurance companies. Despite the fact that you may have had the lowest price on Ford Five Hundred insurance in Albuquerque a few years ago there is a good chance you can find better rate quotes now. Ignore everything you know about insurance because we’re going to demonstrate the things you must know in order to properly buy coverages while reducing your premium.
Informed Consumers Can Save Money
When buying insurance it’s important to understand a few of the rating criteria that come into play when calculating your policy premiums. When you understand what controls the rates you pay, this allows you to make good choices that could help you find cheaper rates. Lots of factors are taken into consideration when pricing auto insurance. Some of the criteria are obvious such as your driving history, but other criteria are more transparent like your vehicle usage or your commute time.
Men are more aggressive – Over the last 30 years, statistics show women are more cautious behind the wheel. However, don’t assume that men are WORSE drivers than women. Both sexes get in fender benders in similar numbers, but guys cause more damage and cost insurance companies more money. Not only that, but men also get cited for more serious violations such as reckless driving. Teenage male drivers tend to get in the most accidents so they pay the highest premiums.
Discounts for married couples – Having a wife or husband may cut your premiums on your policy. Having a spouse generally demonstrates drivers are more financially stable and statistics prove being married results in fewer claims.
Small coverages can add up – There are quite a few extra add-on coverages that can waste your money when buying insurance. Insurance for coverage for rental cars, accidental death, and motor club memberships are examples of these. They may seem good at first, but if you have no use for them eliminate the coverages to reduce your premium.
Responsible drivers have lower costs – Your driving record impacts your car insurance rates tremendously. Drivers who don’t get tickets pay less for auto insurance than their less careful counterparts. Even a single ticket may increase your cost to the point where it’s not affordable. Drivers with severe violations such as reckless driving or DUI are required to prove financial responsibility with their state motor vehicle department in order to continue driving.
Drivers with responsible credit save – A driver’s credit rating factor in calculating your premium rate. If your credit is not that good, you could save money insuring your Ford Five Hundred if you clean up your credit. Insureds with very good credit scores tend to be more responsible than those with worse credit.
Affects performance affects auto insurance rates – The type of car you are buying insurance for makes a significant difference in your car insurance bill. The cheapest rates tend to be for lower performance four cylinder passenger cars, but other factors influence the final cost greatly.
Is you occupation costing you more? – Did you know that where you work can have an impact on rates? Occupational choices like lawyers, executives, and emergency personnel usually pay the highest rates due to intense work situations and lots of time spent away from family. On the other hand, careers like scientists, athletes and performers have the lowest average rates.
Youthful driver insurance prices – Older, more experienced drivers are shown to be more cautious, statistically cause fewer accidents, and receive fewer citations. Teen drivers are known to be inattentive and easily distracted in a vehicle therefore insurance rates are much higher.
The companies in the list below have been selected to offer free rate quotes in New Mexico. If multiple companies are listed, it’s highly recommended you visit two to three different companies in order to get a fair rate comparison.
Auto insurance just makes sense
Despite the high insurance cost for a Ford Five Hundred in Albuquerque, insurance may not be optional for several reasons.
- Most states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability coverage in order to drive the car. 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 your Ford has a loan, most lenders will require that you have physical damage coverage to guarantee loan repayment. If the policy lapses, the lender may have to buy a policy to insure your Ford at a significantly higher premium and force you to reimburse them for it.
- Insurance protects both your assets and your vehicle. It also can pay for medical bills incurred in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if anyone sues you for causing an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of buying auto insurance definitely exceed the price paid, especially for larger claims. But the average American driver overpays as much as $865 each year so we recommend shopping around every year to ensure rates are inline.
Do you qualify for discounts on Ford Five Hundred insurance in Albuquerque?
Insurance is expensive, but you can get discounts that you may not know about. Larger premium reductions will be automatically applied when you quote, but some may not be applied and must be asked for in order for you to get them. If you aren’t receiving every discount you deserve, you may be paying too high a price.
- E-sign Discounts – A few insurance companies will give a small break for signing up on the internet.
- Resident Student – Children who are attending college and don’t have a car can receive lower rates.
- Active Service Discounts – Being on active deployment in the military can result in better insurance rates.
- ABS and Traction Control Discounts – Cars with ABS braking systems or traction control can stop better under adverse conditions so companies give up to a 10% discount.
- Data Collection Discounts – Albuquerque drivers who agree to allow their insurance company to monitor driving manner by using a telematics device in their vehicle such as Progressive’s Snapshot might see lower rates if they have good driving habits.
Don’t be surprised that most discount credits are not given to the whole policy. Most only apply to individual premiums such as liability, collision or medical payments. So when the math indicates you can get free auto insurance, that’s just not realistic.
Some of the larger companies that may have these money-saving discounts include:
If you are trying to find low cost Albuquerque auto insurance quotes, ask all the companies which discounts you qualify for. Some of the earlier mentioned discounts might not apply in Albuquerque. To choose insurance companies that can offer you the previously mentioned discounts in New Mexico, click this link.
Local neighborhood Albuquerque car insurance agents
Certain consumers would rather talk to a local agent and that can be a smart move Experienced insurance agents can point out coverage gaps and help in the event of a claim. The biggest benefit of comparing rate quotes online is that you can find the best rates but also keep your business local. And providing support for small agencies is still important in Albuquerque.
By using this form (opens in new window), the coverage information is sent to agents in your area that can provide free Albuquerque auto insurance quotes for your car insurance coverage. It simplifies rate comparisons since you won’t have to visit any agencies since price quotes are sent to you directly. If you need to compare rates from a particular provider, you can always visit that company’s website and fill out their quote form.
If you’re trying to find a local agent, it’s helpful to know the different types of agents and how they differ in how they can insure your vehicles. Car insurance agencies are categorized either exclusive or independent agents depending on their company appointments. Either type can do a good job, but it’s a good idea to understand the subtle differences since it can affect your agent selection.
Independent Agencies or Brokers
These type of agents are appointed with more than one company so they can write business amongst many companies and find the cheapest rate. If premiums increase, your agent can just switch to a different company and you don’t have to switch agencies.
If you are comparing rate quotes, we highly recommend that you compare prices from multiple independent agents to get the most accurate price comparison.
Below is a list of independent insurance agencies in Albuquerque that can give you comparison quotes.
Webster Insurance Agency Inc
1201 Eubank Blvd Suite 3 – Albuquerque, NM 87112 – (505) 294-1497 – 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
These agents can only provide one company’s prices such as Allstate, State Farm and Farmers Insurance. These agents are not able to provide other company’s prices so you might not find the best rates. Exclusive agents receive extensive training on their company’s products which helps offset the inability to provide other markets.
Listed below are exclusive insurance agents in Albuquerque willing to provide price quote information.
Selecting a insurance agent requires more thought than just the quoted price. The answers to these questions are important, too.
- Do they specialize in personal lines coverage in Albuquerque?
- Does the quote include credit and driving reports?
- Will high miles depreciate repair valuations?
- Do you need full coverage on every vehicle?
- How much training do they have in personal risk management?
- Which companies can they place coverage with?
- If your car is totaled, how to they determine the replacement cost?
- Is there any savings for paying the full premium?
Cheaper car insurance rates are possible
When trying to cut insurance costs, don’t be tempted to buy less coverage just to save a little money. Too many times, an insured dropped full coverage only to regret that they should have had better coverage. Your goal is to get the best coverage possible at the lowest possible cost.
The cheapest Ford Five Hundred insurance in Albuquerque can be sourced on the web and also from your neighborhood Albuquerque agents, and you need to price shop both to get a complete price analysis. Some car insurance companies do not provide price quotes online and these regional insurance providers only sell through independent agents.
Steps to finding low-cost Ford Five Hundred insurance in Albuquerque
If saving money is your primary concern, then the best way to get cheaper auto insurance rates is to do an annual price comparison from companies that sell auto insurance in Albuquerque. You can compare rates by completing these steps.
- First, take a little time to learn about how auto insurance works and the measures you can control to keep rates down. Many things that cause high rates like traffic violations, accidents, and a substandard credit history can be improved by making minor driving habit or lifestyle changes.
- Second, quote rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like GEICO and State Farm, while independent agencies can provide price quotes from multiple sources.
- Third, compare the new rate quotes to your existing rates to determine if you can save on Five Hundred insurance in Albuquerque. If you find a lower rate, make sure there is no lapse in coverage.
One tip to remember is that you’ll want to make sure you compare the same level of coverage on each quote and and to get rates from as many companies as feasibly possible. This enables a fair price comparison and the best price quote selection.
More tips and info about car insurance can be found by following these links:
- Bodily Injury Coverage (Liberty Mutual)
- Who Has the Cheapest Auto Insurance Rates for Immigrants in Albuquerque? (FAQ)
- Who Has Affordable Car Insurance Quotes for Retired Military in Albuquerque? (FAQ)
- Who Has Cheap Car Insurance for Drivers with Good Credit in Albuquerque? (FAQ)
- Who Has Affordable Auto Insurance for Government Employees in Albuquerque? (FAQ)
- Who Has Cheap Car Insurance for Felons in Albuquerque? (FAQ)
- Electronic Stability Control FAQ (iihs.org)
- Understanding Rental Car Insurance (Insurance Information Institute)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)