Shocking but true, most insurance buyers in New Mexico have purchased from the same company for four years or more, and nearly the majority have never taken the time to shop around. U.S. consumers could save approximately $860 every year just by comparing rates, but they just don’t understand how easy it is to do a rate comparison.
If you want to save money, the best way to find cheaper Dodge Ram insurance in Albuquerque is to start doing an annual price comparison from insurers who provide auto insurance in New Mexico. You can shop around by following these steps.
- Try to learn about how your policy works and the steps you can take to keep rates in check. Many things that cause rate increases such as at-fault accidents, careless driving, and a less-than-favorable credit rating can be rectified by being financially responsible and driving safely. This article gives more details to help prevent costly coverage and get additional discounts that may be available.
- Obtain price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only quote rates from a single company like GEICO or State Farm, while agents who are independent can quote prices for a wide range of insurance providers.
- Compare the new rate quotes to your existing coverage to see if a cheaper rate is available. If you find a lower rate quote and decide to switch, make sure coverage is continuous and does not lapse.
- Notify your current company of your intent to cancel your current car insurance policy and submit payment and a signed application for your new coverage. Don’t forget to store the certificate verifying proof of insurance in an accessible location in your vehicle.
The critical component of shopping around is to try to use identical deductibles and limits on every price quote and to quote with as many companies as you can. Doing this provides a fair price comparison and the best rate selection.
You Can Change Your Insurance Prices
One of the most helpful ways to save on car insurance is to to have a grasp of the factors that help calculate your car insurance rates. When consumers understand what determines base rates, this helps enable you to make changes that can earn you lower car insurance prices.
The following are some of the factors companies use to determine prices.
Don’t buy extra policy coverages that may not be needed – There are a lot of add-on coverages that you can buy if you aren’t diligent. Coverages for rental car reimbursement, high-cost glass coverage, and membership fees may be costing you every month. You may think they are a good idea when talking to your agent, but if you have no use for them get rid of them and save.
Avoid tickets and save – Careful drivers get better prices as compared to careless drivers. Even one chargeable violation can increase the cost of insurance by as much as thirty percent. Drivers unfortunate enough to have multiple tickets like DUI or reckless driving might be required by their state to file a SR-22 with their state’s licensing department in order to prevent their license from being revoked.
The example below illustrates how violations and at-fault fender-benders drive up Dodge Ram insurance premiums for different age categories. The data is based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied.
The type of car, truck or SUV makes a difference – The performance of the car you need insurance for makes a substantial difference in your premium level. The lowest premiums will generally be found on low performance passenger cars, but other factors influence the final cost greatly.
The next chart uses these variables: married female driver age 50, full coverage with $500 deductibles, and no discounts or violations. It compares Dodge Ram insurance rates compared to other models of vehicles that have a range of performance risks.
Drive a safer car and pay less – Cars with high safety ratings tend to have better insurance rates. Highly rated vehicles reduce injuries and lower injury rates means less claims paid and cheaper rates on your policy.
Dodge Ram insurance rates and statistics
The coverage information displayed next highlights detailed analysis of insurance policy prices for Dodge Ram models. Understanding how auto insurance policy rates are figured is important for drivers to make informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Ram Quad Cab ST 2WD||$230||$278||$476||$28||$142||$1,154||$96|
|Ram Quad Cab TRX4 Off Road 2WD||$260||$338||$476||$28||$142||$1,244||$104|
|Ram Quad Cab SLT 2WD||$260||$338||$476||$28||$142||$1,244||$104|
|Ram Crew Cab ST 2WD||$260||$338||$476||$28||$142||$1,244||$104|
|Ram Quad Cab ST 4WD||$260||$338||$476||$28||$142||$1,244||$104|
|Ram Crew Cab SLT 2WD||$260||$338||$476||$28||$142||$1,244||$104|
|Ram Crew Cab TRX 2WD||$260||$338||$476||$28||$142||$1,244||$104|
|Ram Quad Cab SLT 4WD||$260||$338||$476||$28||$142||$1,244||$104|
|Ram Crew Cab ST 4WD||$260||$338||$476||$28||$142||$1,244||$104|
|Ram Crew Cab Sport 2WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Quad Cab Sport 2WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Quad Cab TRX4 Off Road 4WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Crew Cab TRX 4WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Crew Cab SLT 4WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Quad Cab Laramie 2WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Crew Cab Laramie 2WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Crew Cab Sport 4WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Quad Cab Sport 4WD||$290||$398||$476||$28||$142||$1,334||$111|
|Ram Crew Cab Laramie 4WD||$290||$458||$476||$28||$142||$1,394||$116|
|Ram Quad Cab Laramie 4WD||$290||$458||$476||$28||$142||$1,394||$116|
|Get Your Own Custom Quote Go|
Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Premium costs do not factor in specific zip code location which can influence rates greatly.
Full coverage rates compared to liability-only
The example below shows the comparison of Dodge Ram yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in New Mexico. Data assumes no accidents or driving violations, $1,000 deductibles, single status, and no policy discounts are applied.
When to switch to liability coverage only
There is no set guideline for dropping physical damage coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your Dodge Ram replacement cost is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after the deductible is paid. If premiums are more than $500 a year for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are some conditions where dropping full coverage is not recommended. If you still have a lienholder on your title, you are required to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Save money on Dodge Ram insurance in Albuquerque with these discounts
Car insurance is not inexpensive, but you might find some hidden discounts that could drop your premiums quite a bit. Certain discounts will be applied at quote time, but a few must be asked for before you get the savings.
- Membership in Organizations – Joining qualifying clubs or civic groups can get you a small discount on your bill.
- Distant College Student Discount – Any of your kids who are attending college without a vehicle on campus may be able to be covered for less.
- Homeowners Savings – Simply owning a home can help you save on car insurance because of the fact that having a home is proof of financial responsibility.
- Smart Student Discounts – Excelling in school may save you up to 25%. Earning this discount can benefit you well after school through age 25.
- One Accident Forgiven – This one isn’t a discount, but a few companies such as State Farm and GEICO will turn a blind eye to one accident before your rates go up with the catch being you have to be claim-free for a set time period.
- Defensive Driver – Successfully completing a course teaching defensive driver skills may get you a small discount and make you a better driver.
Just know that most discounts do not apply to the entire cost. Most only reduce the price of certain insurance coverages like comprehensive or collision. Even though it may seem like you can get free auto insurance, it doesn’t quite work that way. But all discounts should help reduce your overall bill.
The illustration below shows the difference between Dodge Ram car insurance rates with and without discounts applied to the premium. The premiums assume a male driver, no violations or claims, New Mexico state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, marriage, multi-policy, multi-car, and claim-free discounts applied.
A partial list of companies who might offer some of the discounts shown above are:
When getting a coverage quote, ask all the companies what discounts are available to you. Some discounts might not be offered in Albuquerque. To locate car insurance companies with significant discounts in Albuquerque, click here to view.
Best auto insurance in Albuquerque
Choosing a highly-rated company can be challenging considering how many different insurance companies sell coverage in Albuquerque. The ranking data listed below can help you select which car insurance companies you want to consider to insure your vehicles.
Top 10 Albuquerque Car Insurance Companies by A.M. Best Rank
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- Titan Insurance – A+
Top 10 Albuquerque Car Insurance Companies Ranked by Customer Service
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
Be persistent to save money
We’ve covered a lot of tips how to reduce Dodge Ram insurance prices online in Albuquerque. The key thing to remember is the more quotes you get, the more likely it is that you will get a better rate. Consumers may even find the lowest prices come from a company that doesn’t do a lot of advertising.
People switch companies for many reasons like poor customer service, delays in responding to claim requests, being labeled a high risk driver and even delays in paying claims. No matter why you want to switch, finding a great new company can be pretty painless.
Budget-friendly auto insurance in Albuquerque can be purchased both online and from local insurance agents, so get free Albuquerque car insurance quotes from both of them so you have a total pricing picture. There are still a few companies who don’t offer the ability to get quotes online and usually these small insurance companies work with independent agents.
For more information, take a look at the articles below:
- Speed and Speed Limit FAQ (iihs.org)
- Who Has Affordable Albuquerque Auto Insurance for a Toyota Corolla? (FAQ)
- How Much is Car Insurance for Low Mileage Drivers in Albuquerque? (FAQ)
- Who Has the Cheapest Albuquerque Auto Insurance Rates for Infrequent Drivers? (FAQ)
- Who Has Affordable Albuquerque Car Insurance for a Ford Edge? (FAQ)
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- Get the Right Protection (InsureUonline.org)