If saving the most money is your goal, then the best way to get more affordable auto insurance rates in Albuquerque is to compare quotes once a year from insurance carriers who can sell car insurance in New Mexico. Drivers can shop around by completing these steps.
- Take a few minutes and learn about car insurance and the measures you can take to keep rates low. Many risk factors that cause high rates such as accidents, traffic violations, and an unfavorable credit rating can be improved by being financially responsible and driving safely. This article gives tips to help prevent expensive coverage and find additional discounts.
- Get rate quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like GEICO and State Farm, while independent agencies can quote prices for a wide range of companies.
- Compare the new rate quotes to your existing rates to see if cheaper 911 coverage is available in Albuquerque. If you find a lower rate and switch companies, ensure coverage does not lapse between policies.
- Give notification to your current company of your intention to cancel your current car insurance policy and submit a down payment and signed policy application to the new company. When you receive it, place your new certificate verifying coverage with your registration paperwork.
One bit of advice is to try to use the same liability limits and deductibles on every quote request and to quote with every company you can. Doing this guarantees the most accurate price comparison and a better comparison of the market.
It’s an obvious assumption that auto insurance companies don’t want customers comparing rates. Consumers who compare price quotes are likely to buy a different policy because there are good odds of getting low-cost coverage. A survey found that consumers who make a habit of shopping around saved as much as $3,400 over four years compared to drivers who never shopped around.
If finding the most affordable auto insurance in Albuquerque is your ultimate target, then having a grasp of how to get free comparison quotes and analyze insurance premiums can help you succeed in finding affordable rates.
Buy Albuquerque Porsche 911 insurance online
The majority of larger companies like GEICO, State Farm and Progressive allow consumers to get coverage prices direct online. Getting online rates for Porsche 911 insurance in Albuquerque doesn’t take much effort as you simply enter your required coverages into the form. Behind the scenes, their quoting system will order your driving and credit reports and returns a price based on these and other factors. Using the web to get rate quotes for Porsche 911 insurance in Albuquerque makes it simple to compare prices and it’s absolutely necessary to have as many quotes as possible in order to find cheap auto insurance pricing.
In order to get comparison pricing now, compare quotes from the companies shown below. If you have a policy now, it’s recommended that you enter deductibles and limits identical to your current policy. This makes sure you will get rate comparison quotes for similar insurance coverage.
The companies in the list below have been selected to offer quotes in Albuquerque, NM. In order to find the best cheap auto insurance in Albuquerque, we recommend you visit several of them to get the most competitive price.
The data table displayed next showcases detailed analysis of prices for Porsche 911 models. Understanding more about how insurance policy premiums are figured can assist in making informed decisions when comparing rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|911 Carrera 2 2-Dr Coupe||$382||$872||$332||$20||$100||$1,706||$142|
|911 Carrera 4 2-Dr Coupe||$414||$872||$332||$20||$100||$1,738||$145|
|911 Carrera 2 Cabriolet 2-Dr Convertible||$414||$872||$282||$16||$84||$1,668||$139|
|911 Carrera 2 S 2-Dr Coupe||$414||$872||$332||$20||$100||$1,738||$145|
|911 Carrera 4 Cabriolet 2-Dr Convertible||$414||$872||$282||$16||$84||$1,668||$139|
|911 Carrera 4S 2-Dr Coupe||$414||$954||$332||$20||$100||$1,820||$152|
|911 Carrera Targa 2-Dr Coupe||$414||$954||$332||$20||$100||$1,820||$152|
|911 Carrera 2 S 2-Dr Convertible||$414||$954||$282||$16||$84||$1,750||$146|
|911 Carrera 4S Cabriolet 2-Dr Convertible||$448||$872||$282||$16||$84||$1,702||$142|
|911 Carrera Targa S 2-Dr Coupe||$448||$954||$332||$20||$100||$1,854||$155|
|911 GT3 2-Dr Coupe||$448||$1036||$332||$20||$100||$1,936||$161|
|911 GT3 RS 2-Dr Coupe||$512||$1118||$332||$20||$100||$2,082||$174|
|911 Turbo 2-Dr Coupe||$512||$1118||$332||$20||$100||$2,082||$174|
|911 Turbo 2-Dr Convertible||$512||$1200||$282||$16||$84||$2,094||$175|
|Get Your Own Custom Quote Go|
Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Prices do not factor in vehicle garaging location which can decrease or increase coverage prices noticeably.
Do you need full coverage?
The chart below shows the difference between Porsche 911 premium costs when comparing full coverage to liability only. The premiums assume a clean driving record, no claims, $1,000 deductibles, single marital status, and no other discounts are factored in.
Guidelines for eliminating full coverage
There is no definitive formula of when to phase out full coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s say your Porsche 911 replacement cost is $7,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $6,000 after you pay the deductible. If you are paying more than $600 annually to have full coverage, then you may want to consider only buying liability coverage.
There are some conditions where dropping physical damage coverage is not advised. If you have an outstanding loan on your vehicle, 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 damaged, you should keep full coverage in place.
Auto insurance does more than just protect your car
Despite the high cost of buying insurance for a Porsche 911 in Albuquerque, buying auto insurance is required for several reasons.
First, just about all states have minimum liability requirements which means state laws require a specific minimum amount of liability coverage in order to be legal. 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.
Second, if you have a loan on your Porsche 911, most lenders will make it a condition of the loan that you buy insurance to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Porsche at an extremely high rate and force you to reimburse them the higher price.
Third, insurance protects your vehicle and your assets. It will also cover medical bills that are the result of an accident. Liability insurance, one of your policy coverages, also covers legal expenses if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, your auto insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance definitely exceed the price paid, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver is overpaying more than $700 annually so smart consumers compare quotes at least once a year to ensure rates are inline.
Why Informed Drivers Pay Less for Porsche 911 Insurance
Many factors are used in the calculation when you get a price on insurance. Some factors are common sense like an MVR report, but other criteria are less obvious like your vehicle usage or how safe your car is. It’s important that you understand some of the things that come into play when calculating the level of your policy premiums. If you have some idea of what impacts premium levels, this enables you to make decisions that can help you get better insurance rates.
Premiums are high for teenagers – Teen drivers in New Mexico have been known to get distracted easily when driving so insurance rates are higher. Older, more experienced drivers tend to be more responsible, statistically cause fewer accidents, and are safer drivers.
The data below assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.
Insurance prices are higher for high performance vehicles – The make and model of the car, truck or SUV you drive makes a substantial difference in the rate you pay. The most favorable rates are usually found on lower cost passenger cars, but your final cost has many other factors.
The chart below uses these assumptions: married female driver age 20, full coverage with $250 deductibles, and no discounts or violations. It compares Porsche 911 insurance rates compared to other makes and models that have a range of performances.
Do you really need to file those insurance claims? – Car insurance companies in New Mexico award better rates to people who do not rely on their insurance for small claims. If you’re an insured who likes to file claims you can look forward to either higher rates or even cancellation. Auto insurance is intended for claims that pose a financial burden.
Advanced theft deterrents – Selecting a car model with a theft deterrent system can save you some money. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent vehicle theft.
Marriage discount – Walking down the aisle may earn you lower rates on your insurance policy. It may mean you are less irresponsible and insurance companies like that married couples file fewer claims.
Accidents can increase costs – Whether or not you get tickets impacts your car insurance rates tremendously. Drivers who don’t get tickets receive lower rates as compared to those with violations. Having a single speeding ticket can increase the cost of insurance to the point where it’s not affordable. Drivers unfortunate enough to have multiple violations like DWI, reckless driving or hit and run convictions may find they need to prove financial responsibility with the DMV in their state in order to drive a vehicle legally.
The information below shows how speeding tickets and accidents raise Porsche 911 car insurance rates for different ages of insureds. Data assumes a single female driver, comprehensive and collision coverage, $100 deductibles, and no additional discounts are factored in.
Liability coverage limits should be high – Liability coverage provides coverage when you are found to be at fault for physical damage or personal injury to other. Liability provides you with a defense in court to attempt to prove you were not liable. Liability insurance is quite affordable compared to insuring for physical damage coverage, so drivers should carry high limits.
Porsche 911 insurance loss data – Insurers factor in insurance loss information when they set coverage costs for each model. Models that are shown to have increased losses will have a higher premium rate.
The table below demonstrates the insurance loss data used by companies for Porsche 911 vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make or model, is considered to be 100. Percentage values below 100 are indicative of better than average losses, while percentage numbers above 100 point to more claims or an increased chance of a larger loss.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Porsche 911 Carrera 2dr||191||47||173||24|
|Porsche 911 Carrera Convertible||197||51||224||36|
|Porsche 911 Turbo 2dr 4WD||349||367|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Insurance discounts help lower rates for Porsche 911 insurance in Albuquerque
Not too many consumers would say insurance is affordable, but companies offer discounts to reduce the price significantly. Most are applied when you quote, but a few must be asked about before being credited.
- Senior Citizens – Older drivers can possibly qualify for a slight reduction on a Albuquerque auto insurance quote.
- Cautious Drivers – Insureds without accidents may receive a discount up to 45% compared to rates paid by drivers with frequent claims.
- Theft Deterrent – Cars that have factory anti-theft systems can help prevent theft and will save you 10% or more on 911 insurance in Albuquerque.
- Anti-lock Brake Discount – Cars and trucks with ABS and/or traction control can stop better under adverse conditions and will save you 10% or more on 911 insurance in Albuquerque.
- Distant College Student Discount – Kids who are enrolled in higher education away from home and do not have a car may be able to be covered for less.
As a disclaimer on discounts, most credits do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as liability, collision or medical payments. Even though it may seem like all the discounts add up to a free policy, companies don’t profit that way.
The diagram below compares Porsche 911 insurance costs with and without discounts applied. The data assumes a female driver, no tickets, no at-fault accidents, New Mexico state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, multi-car, safe-driver, marriage, and homeowner discounts applied.
A list of companies and their possible discounts are detailed below.
- Farm Bureau may offer discounts for multi-policy, safe driver, driver training, 55 and retired, and youthful driver.
- State Farm offers discounts including passive restraint, student away at school, multiple policy, safe vehicle, and Drive Safe & Save.
- Progressive discounts include good student, multi-vehicle, online signing, homeowner, continuous coverage, and multi-policy.
- Allstate offers discounts for auto/life discount, resident student, farm vehicle, anti-theft, early signing, teenSMART discount, and defensive driver.
- Nationwide includes discounts for good student, accident-free, anti-theft, multi-policy, defensive driving, easy pay, and family plan.
- MetLife has savings for good student, accident-free, good driver, multi-policy, claim-free, and defensive driver.
When comparing rates, check with all the companies how you can save money. Depending on the company, some discounts may not apply to policies everywhere.
Local Albuquerque car insurance agents and car insurance
Some consumers still like to buy from a licensed agent and doing so can bring peace of mind Good agents will help you protect your assets and help in the event of a claim. One of the best bonuses of getting online price quotes is the fact that you can find cheap rate quotes but also keep your business local.
To find an agent, once you fill out this short form, your insurance data is submitted to agents in your area who will give you bids for your car insurance coverage. There is no reason to find an agent on your own due to the fact that quote results will go directly to your email. If you wish to get a rate quote from one company in particular, you can always search and find their rate quote page and fill out their quote form.
Choosing a insurer should depend on more than just the bottom line cost. Any agent in Albuquerque should be forthright in answering these questions:
- How long has their agency been open in Albuquerque?
- Who is covered by the car insurance policy?
- Is there a 24/7 contact number?
- Can you get a list of referrals?
- Are they involved in claim handling?
- Do the companies they represent have a solid financial rating?
What type of Albuquerque auto insurance agent is right for you?
If you want to use a local Albuquerque insurance agency, it can be helpful to understand the different types of agents and how they can quote your rates. Insurance agencies in Albuquerque are either exclusive or independent agents depending on their company appointments. Either can do a good job, but it is important to understand the differences since it can impact the kind of agent you use.
Exclusive Insurance Agents
Agents that elect to be exclusive can only quote rates from one company like Allstate, Farmers Insurance or State Farm. Exclusive agents cannot compare rates from other companies so they have no alternatives for high prices. Exclusive agencies are highly trained on what they offer which aids in selling service over price.
Below is a list of exclusive agencies in Albuquerque that are able to give price quote information.
Independent Agencies or Brokers
Independent agents are not required to write business for one company and that is an advantage because they can write policies through lots of different companies and help determine which has the cheapest rates. If they quote lower rates, your policy is moved internally and that require little work on your part.
When comparing car insurance prices, you will want to get rate quotes from several independent agencies for the best price selection.
The following are independent insurance agencies in Albuquerque that can give you rate quotes.
J B Martin Commercial, Homeowners, Auto, Health and Life Insurance Agency
2800 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 299-7444 – View Map
Best car insurance in Albuquerque
Picking the right insurance company is hard considering how many choices drivers have in New Mexico. The company ratings below may help you decide which car insurance companies to look at when shopping around.
Top 10 Albuquerque Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
Top 10 Albuquerque Car Insurance Companies by A.M. Best Rank
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- Titan Insurance – A+
Frequent quotes can save
Some insurance companies do not provide the ability to get a quote online and many times these small insurance companies provide coverage only through independent agents. Cheaper auto insurance in Albuquerque is available from both online companies as well as from insurance agents, so you need to compare both to have the best selection.
When buying insurance coverage, never skimp on coverage in order to save money. In too many instances, an insured cut liability limits or collision coverage and learned later they didn’t have enough coverage. The proper strategy is to buy enough coverage at a price you can afford, but don’t skip important coverages to save money.
For more information, feel free to visit the following helpful articles:
- What is a Telematics Device? (Allstate)
- Who Has Cheap Car Insurance for Drivers with Good Credit in Albuquerque? (FAQ)
- How Much are Albuquerque Car Insurance Rates for Good Students? (FAQ)
- What Insurance is Cheapest for a Hyundai Elantra in Albuquerque? (FAQ)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)