Shockingly, a large majority of consumers have bought car insurance from the same company for over three years, and just under half have never shopped around. American consumers could save nearly 46.5% each year just by comparing rates, but they underestimate the amount of money they would save if they changed companies.
If you want to save the most money, the best way to get low-cost Cadillac Escalade insurance in Albuquerque is to compare quotes once a year from companies who can sell car insurance in New Mexico.
- Try to learn about individual coverages and the factors you can control to drop your rates. Many risk factors that are responsible for high rates like high-risk driving behaviors and poor credit history can be eliminated by being financially responsible and driving safely.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agents can quote prices from multiple insurance companies.
- Compare the new quotes to your existing policy and determine if there is any savings. If you find a better price, make sure coverage does not lapse between policies.
- Provide written notification to your current company of your intent to cancel your existing policy. Submit a signed application and payment to the new insurer. Once received, put the proof of insurance certificate in a readily accessible location in your vehicle.
The key aspect of shopping around is that you use the same coverage limits and deductibles on each quote and and to compare as many different companies as possible. Doing this ensures an apples-to-apples comparison and a complete rate analysis.
Our objective is to instruct you on the most effective ways to compare rates. If you already have coverage, you stand a good chance to be able to cut your premiums using these techniques. Shoppers just have to learn the quickest method to compare rates using one simple form.
All the larger insurance companies give coverage prices online. Comparing Cadillac Escalade insurance rates online is possible for anyone as all you need to do is type in your coverage preferences as detailed in the form. After the form is submitted, their quoting system makes automated requests for reports for credit and driving violations and returns pricing information based on the information you submitted.
Getting online rate quotes for Cadillac Escalade insurance in Albuquerque simplifies rate comparisons, and it is important to get many rate quotes if you want to find a lower rate.
To quickly compare rates using this form now, compare rate quotes from the providers shown below. If you have a policy now, it’s recommended that you enter your coverages just like they are on your policy. Doing this guarantees you will have rate quotes based on identical coverages.
The providers in the list below have been selected to offer free rate quotes in New Mexico. If multiple companies are listed, we suggest you visit as many as you can to get the most affordable price.
Cheaper rates with these nine discounts on Cadillac Escalade insurance in Albuquerque
Companies offering auto insurance do not advertise all possible discounts very well, so the list below contains a few of the more common as well as some of the hidden savings tricks you should be using when you buy Albuquerque auto insurance online.
- E-sign – A few insurance companies will provide an incentive for signing up on your computer.
- Pay Upfront and Save – If paying your policy premium upfront instead of making monthly payments you can avoid the installment charge.
- Passenger Safety Discount – Factory options such as air bags or automatic seat belts may get savings of 20% or more.
- Claim Free – Drivers with accident-free driving histories are rewarded with significantly better rates on Albuquerque auto insurance quote in comparison to bad drivers.
- Early Signing – A few companies offer discounts for buying a policy before your current expiration date. This discount can save up to 10%.
- Accident Forgiveness Coverage – Not necessarily a discount, but companies like GEICO and Liberty Mutual will allow you to have one accident before hitting you with a surcharge if your claims history is clear before the accident.
- Include Life Insurance and Save – Not all insurance carriers offer life insurance, but some may give you a break if you buy some life insurance too.
- Club Memberships – Belonging to specific professional or occupational memberships or organizations can get you a small discount on your next car insurance statement.
- Multiple Policy Discount – If you have multiple policies and place coverage with the same company you could earn a discount of 10% to 20% off each policy.
Please keep in mind that many deductions do not apply to the entire cost. The majority will only reduce specific coverage prices like comprehensive or collision. Despite the fact that it seems like having all the discounts means you get insurance for free, car insurance companies aren’t that generous.
The example below illustrates the difference between Cadillac Escalade insurance rates with and without discounts applied to the rates. The premiums are based on a female driver, no claims or violations, New Mexico state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, marriage, homeowner, safe-driver, and multi-car discounts applied.
Companies that may offer these benefits include:
When getting free Albuquerque auto insurance quotes, it’s a good idea to all companies you are considering which discounts you qualify for. Some discounts listed above might not apply in your state.
Cadillac Escalade coverage analysis
The coverage information below highlights different coverage costs for Cadillac Escalade models. Being able to understand how rates are figured can help customers make decisions when shopping around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Escalade 2WD | $242 | $450 | $456 | $26 | $136 | $1,310 | $109 |
| Escalade Luxury Edition 2WD | $242 | $450 | $456 | $26 | $136 | $1,310 | $109 |
| Escalade 4WD | $242 | $450 | $456 | $26 | $136 | $1,310 | $109 |
| Escalade Premium Edition 4WD | $264 | $450 | $456 | $26 | $136 | $1,332 | $111 |
| Escalade Luxury Edition 4WD | $264 | $450 | $456 | $26 | $136 | $1,332 | $111 |
| Escalade Premium Edition 2WD | $264 | $450 | $456 | $26 | $136 | $1,332 | $111 |
| Escalade Hybrid 2WD | $264 | $568 | $412 | $24 | $124 | $1,392 | $116 |
| Escalade Hybrid 4WD | $264 | $568 | $412 | $24 | $124 | $1,392 | $116 |
| Escalade Platinum Edition 2WD | $264 | $508 | $456 | $26 | $136 | $1,390 | $116 |
| Escalade Platinum Edition 4WD | $264 | $508 | $456 | $26 | $136 | $1,390 | $116 |
| Escalade Hybrid Platinum 2WD | $286 | $628 | $412 | $24 | $124 | $1,474 | $123 |
| Escalade Hybrid Platinum 4WD | $286 | $628 | $412 | $24 | $124 | $1,474 | $123 |
| Get Your Own Custom Quote Go | |||||||
Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Price information does not factor in the specific area where the vehicle is garaged which can alter rates considerably.
An analysis of deductible level
One of the hardest decisions when shopping for car insurance is how high should the physical damage coverage deductibles be. The rates shown below outline how much more rates are of buying low and high coverage deductibles. The first set of rates uses a $100 deductible for comp and collision and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Escalade 2WD | $384 | $680 | $402 | $24 | $120 | $1,635 | $136 |
| Escalade Luxury Edition 2WD | $384 | $680 | $402 | $24 | $120 | $1,635 | $136 |
| Escalade 4WD | $384 | $680 | $402 | $24 | $120 | $1,635 | $136 |
| Escalade Premium Edition 4WD | $420 | $680 | $402 | $24 | $120 | $1,671 | $139 |
| Escalade Luxury Edition 4WD | $420 | $680 | $402 | $24 | $120 | $1,671 | $139 |
| Escalade Premium Edition 2WD | $420 | $680 | $402 | $24 | $120 | $1,671 | $139 |
| Escalade Hybrid 2WD | $420 | $858 | $364 | $22 | $108 | $1,797 | $150 |
| Escalade Hybrid 4WD | $420 | $858 | $364 | $22 | $108 | $1,797 | $150 |
| Escalade Platinum Edition 2WD | $420 | $768 | $402 | $24 | $120 | $1,759 | $147 |
| Escalade Platinum Edition 4WD | $420 | $768 | $402 | $24 | $120 | $1,759 | $147 |
| Escalade Hybrid Platinum 2WD | $456 | $946 | $364 | $22 | $108 | $1,921 | $160 |
| Escalade Hybrid Platinum 4WD | $456 | $946 | $364 | $22 | $108 | $1,921 | $160 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Escalade 2WD | $214 | $358 | $402 | $24 | $120 | $1,118 | $93 |
| Escalade Luxury Edition 2WD | $214 | $358 | $402 | $24 | $120 | $1,118 | $93 |
| Escalade 4WD | $214 | $358 | $402 | $24 | $120 | $1,118 | $93 |
| Escalade Premium Edition 4WD | $232 | $358 | $402 | $24 | $120 | $1,136 | $95 |
| Escalade Luxury Edition 4WD | $232 | $358 | $402 | $24 | $120 | $1,136 | $95 |
| Escalade Premium Edition 2WD | $232 | $358 | $402 | $24 | $120 | $1,136 | $95 |
| Escalade Hybrid 2WD | $232 | $452 | $364 | $22 | $108 | $1,178 | $98 |
| Escalade Hybrid 4WD | $232 | $452 | $364 | $22 | $108 | $1,178 | $98 |
| Escalade Platinum Edition 2WD | $232 | $406 | $402 | $24 | $120 | $1,184 | $99 |
| Escalade Platinum Edition 4WD | $232 | $406 | $402 | $24 | $120 | $1,184 | $99 |
| Escalade Hybrid Platinum 2WD | $252 | $500 | $364 | $22 | $108 | $1,246 | $104 |
| Escalade Hybrid Platinum 4WD | $252 | $500 | $364 | $22 | $108 | $1,246 | $104 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Rate quotes do not factor in vehicle location which can change prices greatly.
Based on the above data, using a $100 deductible will cost you about $48 more each month or $576 every year than selecting the higher $1,000 deductible. Because you would pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average at least 19 months between claims, you would probably come out ahead if you choose the higher deductible. Here is an example of how you can perform this determination yourself.
| Average monthly premium for $100 deductibles: | $145 |
| Average monthly premium for $1,000 deductibles (subtract): | – $97 |
| Monthly savings from raising deductible: | $48 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $48 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 19 months |
An important thing to remember is that increasing deductibles to save money means you will have to pay more of your own money when you file a claim. You need to have some non-essential savings in order to pay more for the deductible.
The information below highlights how deductible choice and can influence Cadillac Escalade premium costs for different age categories. Data assumes a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Driving violations and accidents
The example below highlights how traffic violations and fender-benders can increase Cadillac Escalade insurance rates for each age group. The costs are based on a single male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
Annual premiums for males compared to females in Albuquerque
The illustration below shows the comparison of Cadillac Escalade car insurance rates for male and female drivers. The rates are based on no violations or claims, full physical damage coverage, $250 deductibles, single marital status, and no other discounts are factored in.
Price comparison of only insuring for liability
The information below compares Cadillac Escalade auto insurance rates with full coverage and liability only. The prices are based on no accidents or driving violations, $250 deductibles, drivers are not married, and no additional discounts are factored in.
Guidelines for eliminating full coverage
There is no specific rule for dropping physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
For example, let’s say your Cadillac Escalade book value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $5,000 after the deductible is paid. If premium cost is more than $500 annually for full coverage, then it might be time to consider dropping full coverage.
There are a few cases where dropping full coverage is not recommended. If you haven’t paid off your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.