Are you sick of overpaying and want the cheapest insurance rates in Albuquerque, NM? Albuquerque drivers have many options when trying to find the lowest priced Chevy Tahoe insurance. They can either waste time calling around to compare prices or utilize the internet to find the lowest rates. There is a right way and a wrong way to compare insurance rates and you need to know the proper way to price shop coverage for your Chevy and obtain the best price possible.
You should make it a habit to compare premium rates yearly since rates change frequently. Even if you got the best rate on Chevy Tahoe insurance in Albuquerque six months ago the chances are good that you can find a lower price today. There are lots of tips to save on Tahoe insurance out there, but in just a couple of minutes you can learn a lot of great tips on how to buy insurance cheaper in Albuquerque.
If you already have coverage or are looking for a new policy, you can use these tips to reduce premiums and still have adequate protection. Our goal is to familiarize you with how to get online quotes. Comparison shoppers just need to learn the tricks to compare insurance rates online.
The auto insurance companies shown below are our best choices to provide price quotes in New Mexico. If you want to find the best cheap auto insurance in Albuquerque, we suggest you visit several of them to get the best price comparison.
Lower your car insurance rates with these eight discounts
Some companies don’t always publicize every discount in an easy-to-find place, so we took the time to find both the well known and also the lesser-known discounts that may be available.
- Senior Citizen Discount – Drivers that qualify as senior citizens are able to get a small decrease in premiums.
- Onboard Data Collection – People who choose to allow their insurance company to analyze driving habits by installing a telematics device such as Drivewise from Allstate or Snapshot from Progressive could see a rate decrease if they are good drivers.
- Government Employees – Being employed by or retired from a federal job could cut as much as 10% off but check with your company.
- Home Ownership Discount – Owning your own home or condo can get you a discount since home ownership requires personal responsibility.
- Bundle and Save – When you have multiple policies with the same company you could get a discount of over 10 percent off each policy depending on the company.
- Safe Driver Discounts – Drivers without accidents can save as much as half off their rates than drivers with accident claims.
- Buy New and Save – Buying a new car model can get you a discount because new model year vehicles have to meet stringent safety requirements.
- Seat Belt Usage – Requiring all passengers to use their safety belts could save 15% on medical payment and PIP coverage.
As a footnote on discounts, most credits do not apply to your bottom line cost. Most only cut specific coverage prices like medical payments or collision. Even though it may seem like you could get a free car insurance policy, you’re out of luck.
The information below illustrates the comparison of Chevy Tahoe insurance costs with and without some available policy discounts. The premiums are based on a female driver, no tickets, no at-fault accidents, 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 multi-car, multi-policy, safe-driver, homeowner, marriage, and claim-free discounts applied.
If you would like to choose from a list of providers that have a full spectrum of discounts in Albuquerque, click this link.
Rates and data analysis
The rate information below highlights a range of rate quotes for Chevy Tahoe models. Being more informed about how car insurance prices are determined can assist in making informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tahoe LS 2WD||$174||$332||$364||$22||$108||$1,000||$83|
|Tahoe LS 4WD||$196||$332||$364||$22||$108||$1,022||$85|
|Tahoe LT 2WD||$196||$332||$364||$22||$108||$1,022||$85|
|Tahoe LT 4WD||$196||$332||$364||$22||$108||$1,022||$85|
|Tahoe LTZ 2WD||$196||$390||$364||$22||$108||$1,080||$90|
|Tahoe LTZ 4WD||$196||$390||$364||$22||$108||$1,080||$90|
|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 claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Premium amounts do not factor in the specific area where the vehicle is garaged which can modify premium rates greatly.
Insurance rate increases from tickets or accidents
The information below illustrates how traffic citations and accident claims can impact Chevy Tahoe insurance rates for each different age group. The information is based on a single male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.
Auto insurance prices based on gender
The information below shows the comparison of Chevy Tahoe car insurance rates for male and female drivers. The rates are based on no tickets, no at-fault accidents, full physical damage coverage, $250 deductibles, single status, and no policy discounts are applied.
Price comparison of only insuring for liability
The example below visualizes the comparison of Chevy Tahoe car insurance rates with full coverage compared to only the New Mexico minimum liability coverage. The data is based on no violations or claims, $500 deductibles, drivers are single, and no other discounts are factored in.
When to buy liability coverage only
There is no set guideline to stop buying comp and collision coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than around 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your Chevy Tahoe claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after paying your policy deductible. If premiums are more than $400 annually for full coverage, then it may be the right time to buy liability only.
There are some scenarios where dropping physical damage coverage is not advised. If you still owe money on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.
You may need help from a local insurance agent
A small number of people just prefer to sit down and talk to an agent and that is OK! Agents are very good at helping people manage risk and help submit paperwork. An additional benefit of comparing insurance prices online is you may find the lowest rates but still work with a licensed agent.
After completing this short form, your information is instantly submitted to participating agents in Albuquerque who will give you bids and help you find cheaper coverage. You don’t have to search for an agent because prices are sent immediately to your email address. In the event you want to quote rates from one company in particular, you just need to visit that company’s website and fill out their quote form.
Picking an insurance company should include more criteria than just the price. Before buying a policy in Albuquerque, get answers to these questions.
- Is every driver in your family covered?
- Can glass claims be handled at your home?
- Will you get a loaner vehicle if you car is being repaired?
- What kind of financial rating does the company have?
- Is the agent properly licensed in New Mexico?
- Who are their largest clients?
If you want local Albuquerque agents, there are two types of insurance agents and how they can quote your rates. Auto insurance agents can be categorized as either independent or exclusive. Both can provide auto insurance policies, but it’s a good idea to understand the difference in the companies they write for because it can factor into buying decisions.
Agents that choose to be exclusive can only write with one company such as State Farm or Allstate. They usually cannot compare other company’s rates so keep that in mind. These agents are usually quite knowledgeable on their company’s products which can be an advantage. Some consumers prefer to buy from exclusive agents mostly because of the brand name instead of buying on price only.
Below is a short list of exclusive agencies in Albuquerque that are able to give price quotes.
- Ronna Todd – State Farm Insurance Agent
4830 Juan Tabo Blvd NE e – Albuquerque, NM 87111 – (505) 293-3303 – View Map
- Allstate Insurance: Valerie Muldez
8101 San Pedro Dr NE, Ste C1 – Albuquerque, NM 87113 – (505) 881-5056 – View Map
- Greg Shamas – State Farm Insurance Agent
9680 Eagle Ranch Rd NW #2 – Albuquerque, NM 87114 – (505) 898-3648 – View Map
Independent agents often have affiliation with several companies so they can quote policies with multiple insurance companies and find you cheaper rates. If you want to switch companies, the business is moved internally and you don’t have to switch agencies. If you are comparing rate quotes, you will definitely want to get several quotes from independent agents so that you can do a thorough price comparison. They also have the ability to place coverage with smaller mutual companies that can offer cheaper rates than bigger companies.
Shown below are Albuquerque independent agents that are able to give comparison quotes.
- J. B. Martin Insurance Agency
8500 Menaul Blvd NE #345 – Albuquerque, NM 87112 – (505) 888-8846 – 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
- Cress Insurance
6101 Moon St NE #1000 – Albuquerque, NM 87111 – (505) 822-8114 – View Map
After receiving acceptable answers to any questions you have and the cheapest Chevrolet Tahoe insurance in Albuquerque quotes, you’ve probably found an auto insurance agent that can be relied on to properly insure your vehicles.
Will just any policy work for me?
When it comes to buying the best car insurance coverage, there really is no best way to insure your cars. Every insured’s situation is different and your policy should reflect that.
For instance, these questions could help you determine whether your personal situation will benefit from professional help.
- Does my insurance cover my expensive audio equipment?
- Are combined or split liability limits better?
- Do I need to call my car insurance company before buying a new car?
- What is the rate difference between pleasure use and commuting?
- How can I get my company to pay me more for my totaled car?
- What is the difference between personal and commercial auto insurance policies?
If you can’t answer these questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and can help protect your family.
Here’s why insurance is not optional
Despite the high insurance cost for a Chevy Tahoe in Albuquerque, buying insurance may not be optional for several reasons.
- Most states have mandatory insurance requirements which means state laws require a minimum amount of liability insurance 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 you bought your Chevy with a loan, most banks will make it a condition of the loan that you have comprehensive coverage to guarantee payment of the loan. If you default on your policy, the lender may insure your Chevy at a more expensive rate and force you to reimburse them the higher price.
- Insurance safeguards not only your car but also your assets. It will also pay for most medical and hospital costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you are sued as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to have it repaired.
The benefits of carrying enough insurance outweigh the cost, especially with large liability claims. According to a survey of 1,000 drivers, the average driver is wasting up to $750 every year so smart consumers compare quotes every year to save money.
Insurance coverage specifics
Understanding the coverages of insurance aids in choosing the best coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and reading a policy is terribly boring. Shown next are the normal coverages found on most insurance policies.
This covers damage to your Tahoe from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims such as crashing into a ditch, rolling your car and colliding with a tree. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to raise the deductible on your Tahoe to save money on collision insurance.
Medical costs insurance
Personal Injury Protection (PIP) and medical payments coverage pay for expenses for pain medications, EMT expenses, nursing services and dental work. The coverages can be used to fill the gap from your health insurance plan or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is only offered in select states and may carry a deductible
This coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Since many New Mexico drivers only carry the minimum required liability limits (25/50/10 in New Mexico), their limits can quickly be used up. This is the reason having UM/UIM coverage is very important.
Liability coverage can cover damage that occurs to other people or property that is your fault. It protects YOU against other people’s claims. It does not cover your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 25/50/10 which means $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and $10,000 of coverage for damaged property.
Liability coverage protects against things such as repair costs for stationary objects, bail bonds, repair bills for other people’s vehicles, medical services and pain and suffering. How much coverage you buy is up to you, but it’s cheap coverage so purchase as large an amount as possible. New Mexico requires minimum liability limits of 25/50/10 but it’s recommended drivers buy better liability coverage.
The chart below shows why low liability limits may not be enough coverage.
Comprehensive or Other Than Collision
Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims like hitting a bird, a broken windshield and rock chips in glass. The maximum payout a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Do the work, save more money
As you shop your coverage around, don’t be tempted to buy poor coverage just to save money. There are too many instances where someone sacrificed liability limits or collision coverage and learned later that a couple dollars of savings turned into a financial nightmare. Your goal is to purchase plenty of coverage at a price you can afford while not skimping on critical coverages.
We just showed you a lot of tips how to compare Chevy Tahoe insurance prices in Albuquerque. The key thing to remember is the more you quote Albuquerque auto insurance, the higher the chance of saving money. You may even be surprised to find that the lowest prices come from a company that doesn’t do a lot of advertising. Regional companies may cover specific market segments cheaper than their larger competitors like State Farm and Allstate.
How to find the cheapest rates for Chevy Tahoe insurance in Albuquerque
If you want to save money, the best way to get affordable car insurance rates is to do a yearly price comparison from insurers in Albuquerque.
- First, spend a few minutes and learn about how your policy works and the things you can control to prevent expensive coverage. Many factors that increase rates like accidents, careless driving, and an imperfect credit score can be controlled by making minor changes to your lifestyle.
- Second, request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from one company like GEICO and Allstate, while agents who are independent can provide prices from multiple insurance companies.
- Third, compare the new quotes to your current policy premium and determine if cheaper Tahoe coverage is available in Albuquerque. If you find a lower rate and decide to switch, ensure there is no coverage lapse between policies.
- Fourth, provide adequate notice to your current company of your intention to cancel your current auto insurance policy and submit payment along with a signed and completed policy application for the new policy. When you receive it, store the proof of insurance certificate in an easily accessible location in your vehicle.
A valuable tip to remember is to use identical deductibles and limits on each quote and and to get rates from as many different companies as possible. Doing this helps ensure an apples-to-apples comparison and the most accurate and complete price analysis.
More detailed car insurance information is available at these sites:
- Auto Insurance FAQ (Farmers Insurance)
- How Much are Albuquerque Auto Insurance Quotes for Drivers with Bad Credit? (FAQ)
- What Car Insurance is Cheapest for Teachers in Albuquerque? (FAQ)
- How Much is Car Insurance for Low Mileage Drivers in Albuquerque? (FAQ)
- Who Has the Cheapest Albuquerque Car Insurance for a Jeep Grand Cherokee? (FAQ)
- How Much are Car Insurance Quotes for a Honda Civic in Albuquerque? (FAQ)
- Who Has Cheap Albuquerque Auto Insurance for Uber Drivers? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Auto Insurance Basics (Insurance Information Institute)
- Smart Auto Insurance Tips (Insurance Information Institute)