Unthinkable but true, the vast majority of insurance customers have stayed with the same insurance company for at least four years, and about 40% of consumers have never shopped around. Drivers in New Mexico could save an average of as much as $474 each year by just shopping around, but they just don’t want to compare rates online.
If saving the most money is your goal, then the best way to get more affordable Dodge Grand Caravan insurance in Albuquerque is to compare prices once a year from different companies who provide car insurance in New Mexico.
- First, read and learn about how insurance companies determine prices and the measures you can control to prevent expensive coverage. Many factors that are responsible for high rates like at-fault accidents and a less-than-favorable credit rating can be remedied by making small lifestyle or driving habit changes.
- Second, compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like Progressive or Farmers Insurance, while agents who are independent can provide rate quotes from many different companies.
- Third, compare the new rate quotes to your current policy premium to see if cheaper Grand Caravan coverage is available in Albuquerque. If you find a lower rate quote and switch companies, ensure there is no coverage lapse between policies.
- Fourth, give notification to your current company of your intent to cancel your current policy. Submit a down payment and signed policy application to the new company. Once the paperwork is finalized, safely store the certificate of insurance in your glove compartment.
One tip to remember is to use the same physical damage deductibles and liability limits on each price quote and and to get price quotes from every company you can. Doing this guarantees an apples-to-apples comparison and the best price quote selection.
The providers in the list below can provide price quotes in Albuquerque, NM. If your goal is to find the best car insurance in Albuquerque, we recommend you compare several of them in order to get a fair rate comparison.
Slash rates with these money saving discounts
Companies do not list all possible discounts in an easy-to-find place, so the following is a list of both the well known as well as some of the hidden credits available to lower your premiums when you buy Albuquerque auto insurance online.
- Theft Deterrent System – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
- Multiple Policy Discount – When you have multiple policies and place coverage with the same company you could save approximately 10% to 15%.
- Active Military Service – Having an actively deployed family member may qualify for rate reductions.
- Government Employees – Active or former government employment could qualify for a slight premium decrease depending on your insurance provider.
- Senior Discount – Seniors are able to get reduced rates.
Don’t be surprised that most credits do not apply to the overall cost of the policy. Some only reduce the cost of specific coverages such as medical payments or collision. So even though you would think you could get a free insurance policy, it doesn’t quite work that way.
The information below illustrates the comparison of Dodge Grand Caravan yearly insurance costs with and without discounts applied to the premium. The price estimates are based on a male driver, no accidents or driving violations, New Mexico state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, marriage, multi-car, claim-free, and safe-driver discounts applied.
The best insurance companies and some of their more popular discounts are included below.
- State Farm offers premium reductions for Steer Clear safe driver discount, driver’s education, anti-theft, passive restraint, and student away at school.
- Esurance may offer discounts for multi-policy, emergency road assistance, claim free, online quote, and homeowner.
- Progressive discounts include online quote discount, good student, online signing, multi-policy, homeowner, and continuous coverage.
- Liberty Mutual has savings for new graduate, newly married, good student, teen driver discount, new move discount, and new vehicle discount.
- Auto-Owners Insurance policyholders can earn discounts including student away at school, good student, multiple vehicles, safe driver, paperless, teen driver, and paid in full.
- GEICO includes discounts for multi-vehicle, five-year accident-free, seat belt use, membership and employees, and anti-lock brakes.
Check with each company or agent how many discounts you can get. Some credits might not apply in Albuquerque.
Insurance coverage details
The table shown next outlines detailed analysis of coverage prices for Dodge Grand Caravan models. Understanding how auto insurance policy rates are established can be valuable when making decisions when shopping around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Grand Caravan CV||$132||$224||$364||$22||$108||$850||$71|
|Grand Caravan SE||$132||$224||$364||$22||$108||$850||$71|
|Grand Caravan Hero||$132||$272||$364||$22||$108||$898||$75|
|Grand Caravan Crew||$150||$272||$364||$22||$108||$916||$76|
|Grand Caravan SXT||$150||$272||$364||$22||$108||$916||$76|
|Get Your Own Custom Quote Go|
Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Rate information does not factor in the specific area where the vehicle is garaged which can alter rates noticeably.
Does full coverage make sense?
The example below shows the difference between Dodge Grand Caravan insurance rates with full coverage compared to only the New Mexico minimum liability coverage. The information is based on no accidents or driving violations, $250 deductibles, single status, and no discounts are applied.
When to drop comp and collision
There is no written rule for excluding physical damage coverage, but there is a general school of thought. If the annual cost of coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s say your Dodge Grand Caravan claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after paying your policy deductible. If premium cost is more than $400 a year for physical damage coverage, then you might want to think about dropping full coverage.
There are some circumstances where removing full coverage is not financially feasible. If you haven’t paid off your loan, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.
Smart Buyers Can Save Money
Multiple criteria are used in the calculation when pricing auto insurance. Some are pretty understandable such as traffic violations, but some are less apparent such as your marital status or your financial responsibility. Part of the auto insurance buying process is learning a few of the rating criteria that play a part in calculating your auto insurance rates. When consumers understand what determines base rates, this allows you to make educated decisions that could result in lower premium levels.
Cars with good safety ratings means cheaper prices – Vehicles that have high safety ratings can get you lower premiums. Vehicles engineered for safety result in less severe injuries and better occupant protection translates into fewer and smaller insurance claims which can result in lower premiums.
Lower rates come with age – Young drivers in New Mexico are statistically shown to be more careless when at the wheel of a vehicle so auto insurance rates are higher. Older drivers have been proven to be more responsible, cause fewer claims and accidents, and are generally more financially stable.
The following data uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.
Gaps in coverage mean higher rates – Not maintaining insurance can get you a ticket and you may have a hard time finding new coverage because you let your coverage lapse. Not only will you pay more, not being able to provide proof of insurance can result in fines and jail time. Then you may be required to submit proof of financial responsibility or a SR-22 with the New Mexico DMV.
Liability protection is critical – Liability insurance will provide protection if you are ruled to be at fault for damages caused by your negligence. It will provide legal defense coverage which can cost a lot. It is affordable coverage compared to comp and collision, so drivers should make sure they buy enough to cover all assets.
Annual mileage impacts premiums – The higher the mileage driven annually the higher your rates will be. Most companies apply a rate based upon how the vehicle is primarily used. Cars not used for work or commuting receive better premium rates than those that get driven frequently. Verify your policy shows the correct usage for each vehicle, because improper ratings can cost you money. Having the wrong rating on your Grand Caravan can cost quite a bit.
Affects performance affects auto insurance premiums – The type of car or truck you are buying insurance for makes a big difference in your premium level. The most favorable rates are usually found on economy passenger vehicles, but other factors influence the final cost greatly.
The following data assumes a single male driver age 30, full coverage with $1000 deductibles, and no discounts or violations. The data compares Dodge Grand Caravan car insurance rates compared to other models that have a range of performances.
No auto insurance claims equals better rates – If you file a lot of claims you can expect either a policy non-renewal or much higher rates. Insurance companies in New Mexico provide most affordable rates to people who are claim-free. Auto insurance is designed for more catastrophic claims.
Insurance losses for a Dodge Grand Caravan – Insurers study historical loss data when they file their rates in each state. Models that the data determines to have higher frequency or amount of claims will have higher premium rates. The table shown below demonstrates the insurance loss data used by companies for Dodge Grand Caravan vehicles.
For each policy coverage, the claim amount for all vehicles averaged together is a value of 100. Numbers shown that are under 100 suggest losses that are better than average, while percentage numbers above 100 point to more losses or a tendency for losses to be larger than average.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Dodge Grand Caravan||79||104||81||108||108||107|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance agencies are professional risk managers
Many people still prefer to talk to an insurance agent and doing so can bring peace of mind Most agents are trained risk managers and help in the event of a claim. One of the great benefits of getting free rate quotes online is that drivers can save money and get better rates but still work with a licensed agent.
After completing this simple form, your insurance coverage information is instantly submitted to insurance agents in Albuquerque who will give you bids for your insurance coverage. You won’t even need to leave your house because prices are sent to your email. If for some reason you want to compare rates from a specific car insurance provider, you can always visit that company’s website to submit a rate quote request.
Picking the best insurance company shouldn’t rely on just a cheap quote. The questions below may impact your decision as well.
- Does the agent recommend any additional coverage?
- Do they write coverage based solely on cost?
- Can you use your own choice of collision repair facility?
- Will a damage claim use OEM or aftermarket replacement parts?
- Do you qualify for any additional discounts?
If you feel you receive answers to your satisfaction to any questions you may have and an acceptable price quote, you’ve probably found an insurer that can service your policy. Just remember you are able to cancel your coverage whenever you choose to so don’t assume that you’re stuck with any specific agency for any length of time.
New Mexico car insurance companies ranked
Choosing the best car insurance provider can be a challenge considering how many choices there are in New Mexico. The company information in the next section can help you pick which providers to look at buying from.
Top 10 Albuquerque Car Insurance Companies Overall
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
- Mercury Insurance
Persistence is the key to affordable rates
Some insurance providers do not provide the ability to get a quote online and usually these regional insurance providers only sell through independent agencies. Budget-friendly auto insurance in Albuquerque is attainable on the web and from local agencies, so you should be comparing quotes from both to have the best chance of lowering rates.
We just presented some good ideas how to compare Dodge Grand Caravan insurance prices in Albuquerque. It’s most important to understand that the more providers you compare, the higher your chance of finding inexpensive Albuquerque auto insurance quotes. Drivers may even discover the best price on auto insurance is with a small local company. These companies can often provide lower rates in certain areas compared to the large companies like State Farm, GEICO and Nationwide.
When you buy Albuquerque auto insurance online, it’s a bad idea to buy poor coverage just to save money. Too many times, consumers will sacrifice liability limits or collision coverage only to regret at claim time that it was a big mistake. The aim is to purchase plenty of coverage for the lowest price, but do not sacrifice coverage to save money.
More detailed auto insurance information can be read in these articles:
- Determining Auto Insurance Rates (GEICO)
- Who Has Affordable Auto Insurance Rates for Active Military in Albuquerque? (FAQ)
- Tread Depth and Tire Safety (State Farm)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Steps to Take After an Auto Accident (Insurance Information Institute)