Auto Insurance Rates for a Subaru Forester in Albuquerque

Want to know how to find more competitive auto insurance rates in Albuquerque, NM? Albuquerque drivers have lots of choices when trying to find the lowest priced Subaru Forester insurance. You can either waste hours struggling with agents to compare prices or save time using the internet to find the lowest rates. There is a right way and a wrong way to find auto insurance online and you need to know the best way to quote coverages for your Subaru and locate the cheapest rates.

It is always a good idea to get comparison quotes once or twice a year because auto insurance prices are usually higher with each renewal. Just because you had the lowest rate on Subaru Forester insurance in Albuquerque a few years ago there may be better deals available now. Forget all the misinformation about auto insurance because you’re going to learn how to quote online to save money, get proper coverage and the best rates.

The Subaru Forester Insurance Price Equation

It’s important that you understand the different types of things that come into play when calculating your policy premiums. When you understand what determines premiums, this allows you to make educated decisions that can help you get big savings. Many different elements are taken into consideration when pricing auto insurance. Some are obvious like an MVR report, but other factors are not quite as obvious such as your credit history or your vehicle rating.

• Do you really need roadside assistance? – There are a ton of optional add-on coverages that may not really be needed when buying auto insurance. Coverages like personal injury protection, towing coverage, and extra equipment coverage are probably not needed. You may think they are a good idea when buying your policy, but if you’ve never needed them in the past think about removing them and cutting costs.
• See if your company offers a multi-policy discount – Most major companies will give better rates to customers who consolidate policies with them. It’s known as a multi-policy discount. This can amount to ten or even fifteen percent. If you currently are using one company, it’s in your best interest to check prices from other companies to verify if the discount is saving money. It’s possible to still save more without the discount even if you have your coverage with different companies
• Auto insurance rates and your employer – Careers like fire fighters, architects, and dentists usually pay higher rates than average attributed to intense work requirements and incredibly demanding work hours. On the flip side, professions such as scientists, students and the unemployed have the lowest average rates.

• Youthful drivers are expensive to insure – More experienced drivers are shown to be more cautious, cause fewer claims and accidents, and are safer drivers. Teen drivers tend to be careless and easily distracted when behind the wheel so auto insurance rates are higher.

  The following chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.

• Liability protection risk factors – The liability coverage on your policy is the coverage that protects you in the event that you are determined to be liable for an accident. Liability provides for a legal defense up to the limits shown on your policy. This coverage is relatively inexpensive as compared to coverage for physical damage, so do not cut corners here.
• Safety ratings are a factor – Cars with five star safety ratings tend to be cheaper to insure. The safest vehicles reduce occupant injuries and lower rates of occupant injuries translates into savings for insurance companies which can mean better rates for you. If your Subaru Forester is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
• Prevent theft and save – Choosing a vehicle with advanced anti-theft systems can help bring down rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help stop auto theft and help lower rates.

• Insurance losses for a Subaru Forester – Car insurance companies use past insurance losses as a tool for profitable underwriting. Models that statistically have increased claim numbers or amounts will cost more to insure. The next table illustrates the historical insurance loss data for Subaru Forester vehicles.

  For each policy coverage, the claim probability for all vehicles as a whole is set at 100. Percentages below 100 suggest a better than average loss history, while percentage values above 100 point to more frequent losses or tendency to have higher losses.

  
  

  Subaru Forester Insurance Claim Statistics

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Subaru Forester 4dr 4WD	71	80	108	72	76	68
  Subaru Forester 4dr 4WD with Eyesight	74	66	118	77	78	53

  BETTER

  AVERAGE

  WORSE

  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Finding a lower price on Subaru Forester insurance is not a difficult process. All you need to do is take time getting comparison quotes from some recommended companies.

The following companies provide comparison quotes in New Mexico. If multiple companies are listed, we recommend you visit two to three different companies in order to get a fair rate comparison.

Subaru Forester insurance statistics and information

The rate information shown next covers detailed analysis of insurance prices for Subaru Forester models. Having a better understanding of how premiums are determined can aid in making smart choices when selecting a policy.

Table data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in vehicle garaging location which can decrease or increase premiums noticeably.

Rate comparison for different deductibles

One of the hardest decisions when shopping for insurance is where should you set your physical damage deductibles. The following insurance rates may help you to understand the differences in premium rates between low and high physical damage deductibles. The first data table uses a $250 deductible for comp and collision and the second data table uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rates do not factor in your specific Albuquerque location which can influence premium rates greatly.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost in the ballpark of $14 more each month or $168 a year than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you have more than 18 months between claims, you would come out ahead if you elect the higher deductible.

Subaru Forester insurance premiums by gender

The example below compares Subaru Forester premium costs for male and female drivers. The rates are based on no tickets, no at-fault accidents, full coverage, $100 deductibles, single status, and no discounts are taken into consideration.

Full coverage rates vs. liability-only in Albuquerque

The illustration below illustrates the difference between Subaru Forester insurance rates when comparing full coverage to liability only. The rates are based on no violations or accidents, $1,000 deductibles, drivers are single, and no discounts are factored in.

When to drop comp and collision

There is no set guideline for dropping physical damage insurance, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s assume your Subaru Forester replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after you pay the deductible. If you are paying more than $500 annually for full coverage, then you might want to consider buying only liability coverage.

There are some circumstances where eliminating full coverage is not in your best interest. If you still have a lienholder on your title, you are required to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.

Why you need Subaru Forester insurance in New Mexico

Even though it’s not necessarily cheap to insure a Subaru in Albuquerque, buying insurance serves an important purpose.

• Most states have minimum mandated liability insurance limits which means the state requires specific minimum amounts of liability coverage in order to license the 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 your vehicle has a loan, almost every bank will require that you buy insurance to ensure loan repayment if the vehicle is totaled. If the policy lapses, the lender may insure your Subaru at a significantly higher premium and require you to fork over for the much more expensive policy.
• Insurance preserves both your Subaru and your assets. It will also reimburse you for medical transport and hospital expenses incurred in an accident. As part of your policy, liability insurance also pays expenses related to your legal defense in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will pay to repair the damage.

The benefits of having insurance definitely exceed the price paid, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is wasting up to $800 each year so you should quote and compare rates at every renewal to help ensure money is not being wasted.

Companies offer many discounts on Subaru Forester insurance in Albuquerque

Properly insuring your vehicles can get expensive, but you might already qualify for some discounts that many people don’t even know exist. Some trigger automatically at the time you complete a quote, but a few need to be inquired about before you will receive the discount.

• Auto/Home Discount – If you can bundle your auto and homeowners insurance with one company you may save at least 10 to 15 percent or more.
• Senior Citizens – Seniors could receive lower premium rates.
• Discounts for Multiple Vehicles – Buying coverage for primary and secondary vehicles with one company qualifies for this discount.
• Good Student – Getting good grades could provide a savings of up to 20% or more. You can use this discount normally up to age 25.
• Student Discount for Driver Training – It’s a good idea to have your young drivers successfully complete driver’s ed class if it’s offered in school.

We need to note that most discount credits are not given to the whole policy. Some only apply to specific coverage prices like comprehensive or collision. So even though it sounds like you could get a free auto insurance policy, it just doesn’t work that way.

The illustration below compares Subaru Forester insurance costs with and without discounts applied to the policy premium. The costs are based on a male driver, no claims, a clean driving record, New Mexico state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, multi-car, multi-policy, marriage, and safe-driver discounts applied.

Companies and a summarized list of policyholder discounts are shown below.

• State Farm offers discounts including passive restraint, Drive Safe & Save, Steer Clear safe driver discount, multiple policy, student away at school, anti-theft, and good driver.
• GEICO offers discounts for military active duty, driver training, multi-policy, federal employee, defensive driver, good student, and emergency military deployment.
• Allstate includes discounts for 55 and retired, premier plus, good payer, early signing, and utility vehicle.
• SAFECO may offer discounts for multi-car, homeowner, anti-theft, drive less, safe driver, teen safety rewards, and anti-lock brakes.
• Farm Bureau offers premium reductions for driver training, 55 and retired, renewal discount, safe driver, and multi-policy.
• Progressive has discounts for good student, online signing, multi-policy, multi-vehicle, and homeowner.
• AAA policyholders can earn discounts including good student, pay-in-full, multi-policy, good driver, education and occupation, and multi-car.

If you want inexpensive Albuquerque auto insurance quotes, ask each company or agent which discounts they offer. Some credits might not be offered in every state.

When to have guidance from a local insurance agent

A lot of people would rather talk to an insurance agent and we recommend doing that Agents can make sure you are properly covered and help you file claims. A nice benefit of comparing car insurance online is that you can find the best rates and still have a local agent.

By using this form (opens in new window), your coverage information gets sent to local insurance agents in Albuquerque who will give you bids for your insurance coverage. You don’t have to contact any agents due to the fact that quote results will go to you. If you wish to compare prices from a specific car insurance provider, just find their quoting web page and give them your coverage information.

Finding the right insurer should depend on more than just the bottom line cost. Any good agent in Albuquerque should know the answers to these questions.

• How many years of experience in personal auto insurance do they have?
• Can they give you a list of client referrals?
• Does the company use OEM repair parts?
• Is the quote a firm price?
• What insurance companies do they work with in Albuquerque?
• What insurance company do they write the most business with?
• How will an accident affect your rates?
• Will their companies depreciate repairs to your car based on the mileage?

After receiving positive responses to all your questions as well as an affordable premium quote, you may have just found a company that is professional and can insure your vehicles.

Cheaper auto insurance premiums are out there

While you’re price shopping online, do not sacrifice coverage to reduce premiums. In many instances, an insured dropped comprehensive coverage or liability limits and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The proper strategy is to get the best coverage possible at a price you can afford, not the least amount of coverage.

People change insurance companies for many reasons like policy cancellation, unfair underwriting practices, extreme rates for teen drivers or even high rates after DUI convictions. It doesn’t matter why you want to switch finding a new auto insurance company can be pretty painless.

We just presented a lot of tips how to find affordable Subaru Forester insurance in Albuquerque. The key concept to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. Consumers could even find that the lowest priced auto insurance comes from the least-expected company.

Steps to finding the cheapest rates for Subaru Forester insurance in Albuquerque

If saving the most money is your goal, then the best way to get budget Subaru Forester insurance is to start doing an annual price comparison from insurance carriers who sell auto insurance in Albuquerque. You can shop around by following these steps.

1. Try to learn about auto insurance and the factors you can control to prevent expensive coverage. Many rating criteria that are responsible for high rates like traffic citations, accidents, and a poor credit rating can be remedied by making minor changes to your lifestyle.
2. Get rate quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like Progressive or Allstate, while agents who are independent can provide price quotes from multiple insurance companies.
3. Compare the new rate quotes to your existing rates to determine if you can save on Forester insurance. If you find a lower rate, make sure the effective date of the new policy is the same as the expiration date of the old one.
4. Provide written notification to your current company to cancel your current auto insurance policy. Submit payment and a signed application to the new company. Be sure to keep the new certificate verifying coverage in an easily accessible location.

One tip to remember is to make sure you enter the same amount of coverage on each quote request and and to get price estimates from as many auto insurance providers as possible. Doing this guarantees an apples-to-apples comparison and a complete selection of prices.

More tips and info about auto insurance can be read by following these links:

• Parking Tips to Reduce Door Dings (State Farm)
• Who Has the Cheapest Auto Insurance Rates for Immigrants in Albuquerque? (FAQ)
• Who Has Cheap Auto Insurance Rates for Business Use in Albuquerque? (FAQ)
• What Insurance is Cheapest for Electric Cars in Albuquerque? (FAQ)
• A Tree Fell on Your Car: Now What? (Allstate)
• New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
• Steps to Take After an Auto Accident (Insurance Information Institute)
• Teen Driving Statistics (iihs.org)