Cheapest Rates for Ford F-150 Insurance in Albuquerque

Inconceivable but true, most drivers have purchased from the same company for at least four years, and nearly half have never compared rates to find lower-cost insurance. Many consumers in New Mexico could save themselves roughly $474 a year, but they underestimate the big savings they would realize if they switch to a new company.

The best way we recommend to get the cheapest Ford F-150 insurance is to make a habit of regularly comparing prices from insurers in Albuquerque. Rate comparisons can be done by following these steps.

1. Learn about what coverages are included in your policy and the changes you can make to keep rates in check. Many rating factors that drive up the price such as speeding tickets, accidents and a not-so-good credit rating can be eliminated by paying attention to minor details. This article gives more details to help keep prices low and get discounts that may be overlooked.
2. Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from a single company like GEICO and Allstate, while independent agencies can give you price quotes from many different companies.
3. Compare the price quotes to your current policy premium to see if cheaper F-150 coverage is available in Albuquerque. If you find a lower rate quote and decide to switch, verify that coverage does not lapse between policies.
4. Tell your current company to cancel the current policy. Submit the application along with any required down payment to the newly selected company. Once coverage is bound, put the new proof of insurance certificate along with your vehicle registration.

The most important part of shopping around is to compare identical limits and deductibles on every quote and to quote with as many companies as feasibly possible. Doing this enables a fair price comparison and a good representation of prices.

There are several ways to compare rate quotes from different companies. One of the best ways to find the lowest Ford F-150 rates is to use the internet to compare rates.

It’s so simple to compare insurance rates online takes the place of having to go to insurance agents’ offices. Quoting and buying Ford F-150 insurance online has reduced the need for local agents unless you have a complicated situation and need the peace of mind only provided by licensed Albuquerque agents. Although you can comparison shop online but purchase the actual policy in an agency. Just remember that comparing more prices will increase your chances of finding a lower rate than you’re paying now. Not every company allows you to get online rate quotes, so it’s important to also get rates on coverage from those companies, too.

The providers in the list below are ready to provide free quotes in New Mexico. In order to find the cheapest car insurance in New Mexico, we recommend you get price quotes from several of them to get a more complete price comparison.

Insurance rates and discounts

Companies don’t list the entire discount list very clearly, so the following is a list of a few of the more common as well as some of the hidden discounts that you may qualify for.

• Paper-free Discount – A few larger online companies provide a small discount shop Albuquerque car insurance on the web.
• Pay Upfront and Save – If paying your policy premium upfront instead of making monthly payments you can avoid the installment charge.
• Memberships – Having an affiliation with certain professional organizations could qualify you for a break when shopping for insurance.
• Seat Belt Discounts – Drivers who require all vehicle occupants to use a seat belt can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
• New Vehicle Savings – Insuring a new F-150 can get you a discount compared to insuring an older model.
• Driver Education Discount – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class if offered at their school.
• Multi-car Discount – Having multiple vehicles on the same insurance policy can reduce rates for all insured vehicles.
• Theft Prevention System – Anti-theft and alarm system equipped vehicles are less likely to be stolen and can earn a small discount on your policy.
• One Accident Forgiven – Not a discount per se, but certain companies permit an accident before they charge you more for coverage so long as you are claim-free before the accident.

Keep in mind that most credits do not apply to the overall cost of the policy. Some only reduce the price of certain insurance coverages like collision or personal injury protection. If you do the math and it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way.

The chart below compares Ford F-150 insurance premiums with and without discounts applied. The information is based on a male driver, no claims, a clean driving record, New Mexico state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, homeowner, multi-policy, and safe-driver discounts applied.

Large insurance companies and a summarized list of policyholder discounts are detailed below.

• State Farm discounts include multiple autos, anti-theft, good driver, Steer Clear safe driver discount, safe vehicle, and driver’s education.
• Nationwide may have discounts that include multi-policy, family plan, accident-free, defensive driving, and Farm Bureau membership.
• GEICO offers discounts including anti-lock brakes, federal employee, daytime running lights, emergency military deployment, and multi-policy.
• AAA may include discounts for good driver, AAA membership discount, education and occupation, good student, and pay-in-full.
• 21st Century may offer discounts for student driver, 55 and older, good student, teen driver, and air bags.
• The Hartford includes discounts for defensive driver, air bag, good student, anti-theft, vehicle fuel type, driver training, and bundle.

When comparing rates, check with all the companies how you can save money. All car insurance discounts may not apply to policyholders in your area. To see a list of providers with the best Ford F-150 insurance discounts in New Mexico, follow this link.

Coverage analysis

The information below outlines detailed analysis of coverage prices for Ford F-150 models. Having a good understanding how auto insurance prices are figured can benefit drivers when making informed purchases.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Prices do not factor in specific zip code location which can impact price quotes significantly.

Cautious drivers save money

The information below shows how violations and accident claims can influence Ford F-150 insurance costs for each different age category. The rates are based on a married female driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.

Cost comparison with and without full coverage

The illustration below illustrates the comparison of Ford F-150 car insurance rates with full physical damage coverage and with liability coverage only. The data is based on no claims or driving violations, $500 deductibles, drivers are not married, and no discounts are factored in.

When to stop paying for full coverage

There is no clear-cut rule to drop comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

For example, let’s assume your Ford F-150 book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $2,000 after the deductible is paid. If you are paying over $200 annually for full coverage, then you might want to consider buying only liability coverage.

There are some situations where eliminating full coverage is not recommended. If you still have a loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not eliminate full coverage.

When do I need to get advice from a local insurance agent?

Some consumers would prefer to get advice from a local agent and often times that is recommended The biggest benefit of getting online price quotes is the fact that you can find cheap car insurance rates and still have a local agent.

To help locate an agent, after submitting this quick form, your coverage information gets sent to insurance agents in Albuquerque that can give you free Albuquerque car insurance quotes for your insurance coverage. You won’t even need to find an agent on your own as quotes are delivered to your email. It’s the lowest rates AND an agent nearby. If you have a need to get a price quote from a specific car insurance provider, you just need to visit that company’s website to submit a rate quote request.

Finding the right provider needs to be determined by more than just the quoted price. Some important questions to ask are:

• How many years have they been established?
• Will you work with the agent or an assistant?
• Did they already check your driving record and credit reports?
• Will you get a loaner vehicle if you car is being repaired?
• Which companies do they recommend if they are an independent agency?
• Does the agent have professional designations like CIC, CPCU or AIC?
• If you have an accident, will your rates go up?
• Is auto insurance their primary focus in Albuquerque?

Choose an insurance agent wisely

When looking for a good Albuquerque insurance agent, it’s important to understand the types of agencies and how they can quote your rates. Agencies in Albuquerque are categorized either independent agents or exclusive agents.

Exclusive Agencies

Agents in the exclusive channel can only quote rates from one company and examples are Farmers Insurance, Allstate, or State Farm. These agents are not able to give you multiple price quotes so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are usually well trained on the products they sell which helps them sell insurance even at higher premiums.

Shown below are exclusive agencies in Albuquerque that are able to give price quote information.

More insurance agents

Independent Insurance Agents

Agents that elect to be independent can sell policies from many different companies so they can insure your vehicles through many different car insurance companies and potentially find a lower price. If you are not satisfied with one company, the business is moved internally and the insured can keep the same agent. If you are trying to find cheaper rates, you need to get several quotes from a couple of independent agencies to get the best comparison.

Below are Albuquerque independent agencies that can give you price quote information.

More insurance agents

Upon getting satisfactory answers to your questions and a low price estimate, you may have found an auto insurance agent that is reliable enough to provide car insurance coverage.

How much car insurance do I need?

When quoting and comparing the right insurance coverage for your vehicles, there really is not a one-size-fits-all type of policy. Coverage needs to be tailored to your specific needs.

For instance, these questions may help highlight if your insurance needs might need professional guidance.

• When should I have rental car coverage?
• Do I have ACV or replacement cost coverage?
• What does medical payments coverage do?
• What is motorclub and do I need it?
• Will my insurance pay for OEM parts?
• What are good deductibles for a Ford F-150?
• Will filing a claim cost me more?
• Should I carry comprehensive and collision coverage?
• Is my custom stereo system covered?

If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form.

Auto insurance coverage options for a Ford F-150

Knowing the specifics of your policy aids in choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and coverage can change by endorsement.

Medical expense insurance – Med pay and PIP coverage pay for bills like EMT expenses, prosthetic devices and funeral costs. They are utilized in addition to your health insurance program or if you do not have health coverage. Coverage applies to you and your occupants as well as any family member struck as a pedestrian. PIP coverage is not universally available but can be used in place of medical payments coverage

Coverage for liability – This coverage can cover damage or injury you incur to other people or property. This insurance protects YOU against claims from other people. It does not cover damage to your own property or vehicle.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 25/50/10 which stand for a limit of $25,000 per injured person, $50,000 for the entire accident, and a limit of $10,000 paid for damaged property.

Liability coverage protects against things like structural damage, repair bills for other people’s vehicles and medical expenses. How much liability should you purchase? That is a personal decision, but you should buy as large an amount as possible. New Mexico state law requires minimum liability limits of 25/50/10 but drivers should carry higher limits.

The chart below shows why buying low liability limits may not be enough.

Comprehensive (Other than Collision) – Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims such as a tree branch falling on your vehicle, hitting a bird, rock chips in glass, theft and damage from a tornado or hurricane. The most your auto insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Collision – Collision coverage pays for damage to your F-150 caused by collision with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims like hitting a parking meter, rolling your car and colliding with a tree. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Another option is to bump up the deductible on your F-150 in order to get cheaper collision rates.

Protection from uninsured/underinsured drivers – This protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include hospital bills for your injuries as well as damage to your Ford F-150.

Due to the fact that many New Mexico drivers carry very low liability coverage limits (New Mexico limits are 25/50/10), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.

Persistence pays off

When shopping online for insurance, it’s very important that you do not sacrifice coverage to reduce premiums. There are a lot of situations where drivers have reduced collision coverage and learned later they didn’t have enough coverage. The aim is to purchase plenty of coverage at the lowest possible cost, but don’t skip important coverages to save money.

We covered a lot of ways to lower your Ford F-150 insurance rates in Albuquerque. The most important thing to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Consumers may even find the biggest savings come from a company that doesn’t do a lot of advertising.

Budget-friendly insurance in Albuquerque is attainable online and from local insurance agents, and you should compare price quotes from both to have the best selection. Some insurance companies do not offer rates over the internet and most of the time these small insurance companies only sell coverage through independent insurance agents.

To read more, take a look at these articles:

• Collision Coverage (Liberty Mutual)
• Who Has Affordable Auto Insurance Quotes for a Chevrolet Silverado in Albuquerque? (FAQ)
• Who Has Cheap Car Insurance for Felons in Albuquerque? (FAQ)
• Speed and Speed Limit FAQ (iihs.org)
• Preventing Carjacking and Theft (Insurance Information Institute)
• Smart Auto Insurance Tips (Insurance Information Institute)