Surprisingly, a recent survey revealed that 70% of consumers have bought insurance from the same company for a minimum of four years, and just short of a majority have never even compared rates from other companies. Drivers in Albuquerque could pocket up to 40% a year by just comparing quotes, but they don’t believe the large savings they would see if they switched to a more affordable policy.
It takes a few minutes, but the best way to find low-cost prices for car insurance rates is to start comparing rates regularly from companies who provide auto insurance in Albuquerque.
- Try to learn a little about what coverages are included in your policy and the changes you can make to keep rates in check. Many things that drive up the price like your driving record and a low credit rating can be rectified by making minor changes to your lifestyle. Continue reading for instructions to get better rates and find overlooked discounts.
- Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like GEICO and Allstate, while agents who are independent can give you price quotes for a wide range of companies. Start a quote
- Compare the quotes to your existing policy to see if a cheaper price is available in Albuquerque. If you find a better price and change companies, make sure coverage is continuous and does not lapse.
- Tell your current company of your decision to cancel your current auto insurance policy and submit payment along with a signed and completed policy application to your new agent or company. Once the application is submitted, store the certificate verifying proof of insurance in a readily accessible location in your vehicle.
The key thing to remember is to use the same liability limits and deductibles on each quote and and to compare as many carriers as you can. Doing this guarantees a fair rate comparison and a complete price analysis.
Choosing the best insurance company for you in Albuquerque is really not that difficult. Just about anyone who wants cheaper insurance will most likely find a lower-cost policy. But New Mexico drivers should learn the methods companies use to charge you for coverage and use this information to your advantage.
Get Kia Optima Plug-In Hybrid Insurance for Less
Lots of factors are part of the equation when premium rates are determined. Some of the criteria are obvious like a motor vehicle report, but some are less apparent like your vehicle usage or your financial responsibility. Smart consumers have a good feel for the rating factors that help calculate the price you pay for auto insurance. If you have a feel for what determines premiums, this allows you to make good choices that could result in lower rates.
The itemized list below are a few of the “ingredients” auto insurance companies consider when setting premiums.
More performance means more cost – The make and model of the car or truck you need insurance for makes a significant difference in determining your rates. The lowest base rates are usually for small economy passenger cars, but many other things help determine your insurance rates.
Gender is a factor – The statistics show that females take fewer risks when driving. That doesn’t necessarily mean that females are better at driving than males. They both cause at-fault accidents in similar numbers, but the males cause more damage and cost insurance companies more money. Men also tend to receive more major tickets such as driving while intoxicated (DWI) or driving recklessly.
Where you live is a factor – Having an address in a rural area is a good thing when trying to find low car insurance rates. Fewer people corresponds to lower accident rates as well as less vandalism and auto theft. Drivers in populated New Mexico areas have to deal with more auto accidents and longer commutes to work. Longer commute distances means more chances of being involved in an auto accident.
Limits of liability protection – Your policy’s liability coverage will provide protection if ever you are responsible for personal injury or accident damage. It will provide you with a defense in court which can be incredibly expensive. Liability is cheap compared to physical damage coverage, so do not skimp.
Optional features that lower auto insurance rates – Buying a car with a theft deterrent system can help lower your rates. Theft prevention devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder vehicle theft.
Fewer miles means better rates – The more miles you rack up on your Kia annually the more you’ll pay to insure your vehicle. Many insurance companies apply a rate partially by how you use the vehicle. Cars and trucks that have low annual miles cost less to insure compared to those used for work or business. Improper usage on your Optima Plug-In Hybrid can cost quite a bit. Verify your auto insurance declarations sheet is rated on the correct usage for each vehicle, because it can save money.
Combine policies with the same company – Most major auto insurance companies give lower prices to clients who carry more than one policy in the form of a multi-policy discount. The discount can add up to ten or even fifteen percent. Even if you qualify for this discount already, it’s still a good idea to get quotes from other companies to help guarantee you have the best rates.
High premiums for younger drivers – More experienced drivers have been proven to be more responsible, cause fewer claims and accidents, and receive fewer citations. Teen drivers have been known to be less responsible behind the wheel so auto insurance rates are higher.
Determine discounts to get cheap Albuquerque insurance rates
Not too many consumers would say insurance is affordable, but you may qualify for discounts that may help make it more affordable. Certain credits will be shown when you quote, but a few need to be asked for before you will receive the discount.
- Good Driver Discount – Safe drivers may receive a discount up to 45% than their less cautious counterparts.
- Seat Belts Save – Drivers who require all occupants to fasten their seat belts can save a little off the personal injury premium cost.
- Bundled Policy Discount – When you have multiple policies with one insurance company you may save over 10 percent off each policy depending on the company.
- Accident Forgiveness – This isn’t a discount exactly, but a handful of insurance companies will turn a blind eye to one accident without raising rates with the catch being you have to be claim-free for a set time period.
- Air Bags and Passive Restraints – Vehicles equipped with air bags may get savings of 25 to 30%.
Drivers should understand that most discounts do not apply to all coverage premiums. Most only cut the price of certain insurance coverages like collision or personal injury protection. So even though it sounds like you would end up receiving a 100% discount, it’s just not the way it works.
For a list of companies that offer discounts in New Mexico, click here to view.
Which car insurance company is best in Albuquerque?
Ending up with the right auto insurance company can be challenging considering how many companies are available to choose from in Albuquerque. The company information in the lists below may help you analyze which coverage providers you want to consider when looking for cheaper rates.
Top 10 Albuquerque Car Insurance Companies Ranked by Customer Service
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
Top 10 Albuquerque Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
Persistence pays off
When trying to cut insurance costs, it’s very important that you do not buy less coverage just to save a little money. In many cases, someone sacrificed physical damage coverage only to discover later that the savings was not a smart move. The ultimate goal is to buy a smart amount of coverage for the lowest price and still be able to protect your assets.
We covered some good ideas how to lower your Kia Optima Plug-In Hybrid insurance rates in Albuquerque. The key thing to remember is the more providers you compare, the better your chances of lowering your car insurance rates. You may even find the most savings is with a small local company. Regional companies often have lower car insurance rates on specific markets as compared to the big name companies such as State Farm or Progressive.
Cost effective Kia Optima Plug-In Hybrid insurance is definitely available online as well as from insurance agents, so you should compare both in order to have the best price selection to choose from. Some auto insurance companies may not have rates over the internet and most of the time these small insurance companies only sell coverage through independent agencies.
For more information, feel free to browse the articles below:
- Safe Vehicles for Teens (iihs.org)
- Who Has the Cheapest Auto Insurance for a Learners Permit in Albuquerque? (FAQ)
- Who Has Cheap Auto Insurance for Drivers Over Age 70 in Albuquerque? (FAQ)
- Who Has Cheap Car Insurance for Felons in Albuquerque? (FAQ)
- Who Has Cheap Car Insurance Rates for Low Credit Scores in Albuquerque? (FAQ)
- Tools for Teen Driving Safety (State Farm)
- Alcohol Impaired Driving FAQ (iihs.org)