If you want to save money, the best way to get budget auto insurance rates is to start comparing prices regularly from providers who provide auto insurance in Albuquerque. You can compare rates by following these steps.
- First, learn about what coverages are included in your policy and the factors you can control to keep rates in check. Many policy risk factors that are responsible for high rates like at-fault accidents, speeding tickets, and an imperfect credit history can be amended by being financially responsible and driving safely.
- Second, compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from a single company like GEICO or Farmers Insurance, while independent agents can provide rate quotes from multiple insurance companies.
- Third, compare the new rate quotes to the price on your current policy to see if a cheaper price is available. If you find better rates and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Fourth, provide notification to your current agent or company of your intent to cancel your current car insurance policy. Submit a down payment and signed policy application for your new coverage. As soon as you receive it, put the new certificate of insurance in a readily accessible location in your vehicle.
A good tip to remember is that you’ll want to compare identical coverages on every quote request and and to get price quotes from as many companies as you can. Doing this helps ensure a fair price comparison and the most accurate and complete price analysis.
It’s well known that auto insurance companies don’t want their customers to go rate shopping. Consumers who get price quotes annually are likely to switch companies because there is a significant possibility of finding a lower-priced company. A recent auto insurance study revealed that people who faithfully checked for cheaper rates saved approximately $865 a year compared to policyholders who never compared rates.
If finding the best price on insurance in Albuquerque is the reason you’re reading this, then having a grasp of how to compare auto insurance can make it simple to find affordable coverage.
How to shop Mazda 6 insurance online
The following companies provide price comparisons in Albuquerque, NM. If you wish to find the cheapest car insurance in Albuquerque, NM, we recommend you get price quotes from several of them in order to get a fair rate comparison.
Mazda 6 insurance coverage information
The information displayed next outlines different prices for Mazda 6 models. Having insight into how auto insurance policy rates are figured can be valuable when making decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 6 I Sport 4-Dr Sedan | $214 | $412 | $338 | $20 | $102 | $1,086 | $91 |
| 6 I SV 4-Dr Sedan | $214 | $412 | $338 | $20 | $102 | $1,086 | $91 |
| 6 I Touring 4-Dr Sedan | $214 | $412 | $338 | $20 | $102 | $1,086 | $91 |
| 6 I Touring Plus 4-Dr Sedan | $242 | $412 | $338 | $20 | $102 | $1,114 | $93 |
| 6 I Touring Plus 4-Dr Sedan | $242 | $412 | $338 | $20 | $102 | $1,114 | $93 |
| 6 I Grand Touring 4-Dr Sedan | $242 | $484 | $338 | $20 | $102 | $1,186 | $99 |
| 6 S Touring Plus 6 Cyl 4-Dr Sedan | $242 | $484 | $338 | $20 | $102 | $1,186 | $99 |
| 6 S Touring Plus 4-Dr Sedan | $242 | $484 | $338 | $20 | $102 | $1,186 | $99 |
| 6 S Grand Touring 4-Dr Sedan | $242 | $484 | $338 | $20 | $102 | $1,186 | $99 |
| 6 S Grand Touring 6 Cyl 4-Dr Sedan | $242 | $484 | $338 | $20 | $102 | $1,186 | $99 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Estimates do not factor in vehicle garaging location which can raise or lower premium rates considerably.
Higher deductibles lower rates
When shopping for car insurance, a common question is where to set your physical damage deductibles. The following insurance rates illustrate the rate difference between high and low insurance deductibles. The first set of rates uses a $250 deductible for physical damage and the second set of rates uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 6 I Sport 4-Dr Sedan | $248 | $420 | $322 | $20 | $96 | $1,131 | $94 |
| 6 I SV 4-Dr Sedan | $248 | $420 | $322 | $20 | $96 | $1,131 | $94 |
| 6 I Touring 4-Dr Sedan | $248 | $420 | $322 | $20 | $96 | $1,131 | $94 |
| 6 I Touring Plus 4-Dr Sedan | $280 | $420 | $322 | $20 | $96 | $1,163 | $97 |
| 6 I Touring Plus 4-Dr Sedan | $280 | $420 | $322 | $20 | $96 | $1,163 | $97 |
| 6 I Grand Touring 4-Dr Sedan | $280 | $494 | $322 | $20 | $96 | $1,237 | $103 |
| 6 S Touring Plus 6 Cyl 4-Dr Sedan | $280 | $494 | $322 | $20 | $96 | $1,237 | $103 |
| 6 S Touring Plus 4-Dr Sedan | $280 | $494 | $322 | $20 | $96 | $1,237 | $103 |
| 6 S Grand Touring 4-Dr Sedan | $280 | $494 | $322 | $20 | $96 | $1,237 | $103 |
| 6 S Grand Touring 6 Cyl 4-Dr Sedan | $280 | $494 | $322 | $20 | $96 | $1,237 | $103 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 6 I Sport 4-Dr Sedan | $202 | $338 | $322 | $20 | $96 | $978 | $82 |
| 6 I SV 4-Dr Sedan | $202 | $338 | $322 | $20 | $96 | $978 | $82 |
| 6 I Touring 4-Dr Sedan | $202 | $338 | $322 | $20 | $96 | $978 | $82 |
| 6 I Touring Plus 4-Dr Sedan | $228 | $338 | $322 | $20 | $96 | $1,004 | $84 |
| 6 I Touring Plus 4-Dr Sedan | $228 | $338 | $322 | $20 | $96 | $1,004 | $84 |
| 6 I Grand Touring 4-Dr Sedan | $228 | $398 | $322 | $20 | $96 | $1,064 | $89 |
| 6 S Touring Plus 6 Cyl 4-Dr Sedan | $228 | $398 | $322 | $20 | $96 | $1,064 | $89 |
| 6 S Touring Plus 4-Dr Sedan | $228 | $398 | $322 | $20 | $96 | $1,064 | $89 |
| 6 S Grand Touring 4-Dr Sedan | $228 | $398 | $322 | $20 | $96 | $1,064 | $89 |
| 6 S Grand Touring 6 Cyl 4-Dr Sedan | $228 | $398 | $322 | $20 | $96 | $1,064 | $89 |
| 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 safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Prices do not factor in Albuquerque location which can revise prices significantly.
Using the premium rates above, we can conclude that using a $250 deductible costs roughly $13 more each month or $156 for a full year averaged for all 6 models than selecting the higher $500 deductible. Due to the fact that you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you usually have more than 19 months between claims, you would save more money by going with a higher deductible.
Comparison of car insurance rates by age and gender
The chart below illustrates the comparison of Mazda 6 auto insurance rates for male and female drivers. The rates are based on no claims or driving violations, full coverage, $500 deductibles, drivers are not married, and no discounts are factored in.
Do you need full coverage?
The information below shows the comparison of Mazda 6 car insurance costs with liability coverage only compared to full coverage. The price estimates are based on no violations or claims, $250 deductibles, single marital status, and no discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no exact rule for phasing out physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s pretend your Mazda 6 book value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $7,000 after the policy deductible has been paid. If it’s costing in excess of $700 annually to have full coverage, then you might consider buying liability only.
There are some circumstances where eliminating full coverage is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.
Why auto insurance is not optional
Despite the high cost of buying insurance for a Mazda 6 in Albuquerque, insurance serves a purpose in several ways.
- The majority of states have minimum mandated liability insurance limits which means the state requires specific limits of liability in order to drive the car. 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 have a loan on your Mazda 6, most lenders will require that you buy insurance to ensure they get paid if you total the vehicle. If you default on your policy, the lender may have to buy a policy to insure your Mazda at a much higher premium rate and make you pay for the much more expensive policy.
- Auto insurance protects not only your Mazda 6 but also your financial assets. It also can pay for hospital and medical expenses incurred in an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of insuring your car more than cancel out the cost, especially when you need to use it. According to a 2015 survey, the average American driver is currently overpaying as much as $750 every year so you should quote rates at every policy renewal to save money.
Why Smart Consumers Pay Less for Mazda 6 Insurance
Many different elements are used when premium rates are determined. Most are fairly basic such as your driving record, but other criteria are less apparent like where you live or how safe your car is.
The items below are some of the items used by companies to determine your rate level.
- Marriage is a factor – Walking down the aisle may save some money compared to being single. Marriage generally demonstrates drivers are more mature than a single person and statistics prove married drivers tend to file fewer claims.
- More stress means more cost – Did you know that where you work can have an impact on rates? Occupations like real estate brokers, social workers, and dentists tend to have higher premiums than the average policyholder attributed to job stress and lots of time spent away from family. Other careers such as professors, students and homemakers pay the least.
-
Tickets are costly – Only having one driving citation can increase rates to the point where it’s not affordable. Drivers with clean records get better prices than bad drivers. Drivers unfortunate enough to have severe violations such as DUI or reckless driving may face state-mandated requirements to submit a SR-22 form with their state in order to prevent a license revocation.
The diagram below shows how traffic citations and at-fault fender-benders can affect Mazda 6 insurance costs for different ages of insureds. The premiums are based on a married male driver, full coverage, $1,000 deductibles, and no additional discounts are factored in.
- Liability coverage – Your policy’s liability coverage kicks in when you are responsible for causing damage or personal injury in an accident. Liability provides legal defense coverage starting from day one. This coverage is relatively inexpensive when compared to the cost of physical damage coverage, so drivers should carry high limits.
-
Fast cars cost more to insure – The performance level of the car, truck or SUV you are insuring makes a substantial difference in the rate you pay. The lowest premiums are for economy passenger cars, but other factors influence the final cost greatly.
The data below uses these variables: single male driver age 50, full coverage with $100 deductibles, and no discounts or violations. It shows Mazda 6 rates compared to other models that have different performance rating factors.
- Cheaper rates with high deductibles – Comp and collision deductibles are how much you are required to spend out-of-pocket if a covered claim is submitted. Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Some coverage claims are colliding with a stationary object, hail damage, and having a roll-over accident. The more expense the insured is willing to pay, the less money you will pay for insurance.
-
Mazda 6 claim data – Car insurance companies study historical loss data to calculate a price that will offset any claims. Vehicles that have increased losses will have a higher cost to insure. The information below illustrates the insurance loss data for Mazda 6 vehicles.
For each policy coverage type, the loss probability for all vehicles averaged together is represented as 100. Values below 100 are indicative of better than average losses, while values that are 100 or greater indicate a higher chance of having a claim or an increased chance of larger losses than average.
Car Insurance Loss Data for Mazda 6 Models Specific Mazda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mazda 6 99 92 112 94 98 94 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Car insurance company ratings
Finding the highest-rated company is difficult considering how many choices you have in Albuquerque. The company information below may help you analyze which auto insurers you want to consider putting your business with.
Top 10 Albuquerque Car Insurance Companies Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- Progressive
- Liberty Mutual
- GEICO
- Allstate
- Titan Insurance
- The Hartford
- Mercury Insurance
One last thing about your coverage
We covered a lot of tips how to save on Mazda 6 insurance in Albuquerque. It’s most important to understand that the more you quote Albuquerque auto insurance, the better chance you’ll have of finding low cost Albuquerque auto insurance quotes. You may even be surprised to find that the lowest priced insurance comes from a small local company. They may only write in your state and offer lower rates as compared to the big name companies such as Progressive or GEICO.
Lower-priced Mazda 6 insurance in Albuquerque can be purchased from both online companies as well as from insurance agents, so you need to shop Albuquerque auto insurance with both in order to have the best price selection to choose from. Some companies don’t offer rate quotes online and most of the time these regional carriers only sell coverage through independent agents.
For more information, take a look at the following helpful articles:
- Auto Insurance Basics (Insurance Information Institute)
- What Auto Insurance is Cheapest for High Risk Drivers in Albuquerque? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Nissan Altima in Albuquerque? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Immigrants in Albuquerque? (FAQ)
- How Much are Auto Insurance Rates for 19 Year Olds in Albuquerque? (FAQ)
- How Much are Albuquerque Auto Insurance Quotes for a Ford Focus? (FAQ)
- Who Has the Cheapest Auto Insurance for a Jeep Wrangler in Albuquerque? (FAQ)
- Get the Right Protection (InsureUonline.org)
- Teen Driver Licensing Information (iihs.org)
- Collision Coverage (Liberty Mutual)
- Insurance losses by make and model (Insurance Institute for Highway Safety)