Shockingly, a large majority of drivers kept their coverage with the same car insurance company for more than four years, and just short of a majority have never shopped around. With the average premium in the U.S. being $1,847, drivers could save approximately 46.5% a year just by shopping around, but most tend to underestimate the rate savings if they replace their high priced policy.
The easiest way to save money on Mitsubishi Raider insurance is to start doing a yearly price comparison from insurance carriers who provide car insurance in Albuquerque. Rates can be compared by following these steps.
Step 1: Get an understanding of policy coverages and the factors you can control to prevent high rates. Many rating criteria that cause rate increases like at-fault accidents, speeding tickets, and poor credit rating can be amended by paying attention to minor details. Continue reading for more details to prevent high rates and get additional discounts that may be available.
Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while agents who are independent can quote prices from multiple companies. Compare rates now
Step 3: Compare the new rate quotes to your current policy premium to see if switching to a new carrier will save money. If you find a better price, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Notify your agent or company of your decision to cancel the current policy and submit a down payment and signed policy application to your new company or agent. Make sure you place the new certificate of insurance in an easily accessible location.
One thing to remember is to use the same level of coverage on every price quote and and to compare every company you can. Doing this ensures a level playing field and a good representation of prices.
Locating the most cost-effective insurance policy in Albuquerque is easy if you know what you’re doing. If you have a policy now, you should be able to get lower rates using these techniques. Drivers just have to understand the least time-consuming way to shop on the web.
Auto insurance providers offering low-cost rate quotes in New Mexico
The companies shown below offer free quotes in Albuquerque, NM. If you want to find the cheapest auto insurance in NM, we recommend you visit several of them to get a more complete price comparison.
Informed Drivers Save Every Year
One of the most helpful ways to save on auto insurance is to to have a grasp of some of the things that aid in calculating the level of your policy premiums. If you know what determines premiums, this allows you to make good choices that could help you find much lower annual insurance costs. Multiple criteria are taken into consideration when you quote your car insurance policy. Some are pretty understandable such as your driving history, although some other factors are not quite as obvious like your continuous coverage or your financial responsibility.
The following are a partial list of the pieces companies use to determine your rates.
- Do you know your comp and collision deductibles? – Coverage for physical damage, termed comprehensive and collision coverage on your policy, insures against damage to your Mitsubishi. Some examples of claims that would be covered are a windshield shattered by a rock, vandalism, and burglary. The deductibles you choose state the amount of money you are willing to pay out-of-pocket before your auto insurance pays a claim. The more expense you choose to pay out-of-pocket, the lower your rates will be.
- More traffic equals higher premiums – Residing in a rural area may provide you with better prices if you are looking for the lowest rates. Less people means fewer accidents. People who live in big cities tend to have much more traffic and more time behind the wheel. Longer commute distances means more chances of being involved in an auto accident.
- Little extras can really add up – Insurance policies have a lot of extra coverages you can purchase on your auto insurance policy. Coverage for things like roadside assistance, death and dismemberment, and extra life insurance coverage may be wasting your money. These coverages may sound good initially, but now you might not need them so eliminate them to save money.
- Cheaper rates after marriage – Your spouse can get you a discount when shopping for auto insurance. It is viewed as being more mature and responsible and insurance companies reward insureds because drivers who are married file infrequent claims.
- Auto insurance policy lapses increase prices – Having a gap between insurance policy dates will be a guaranteed way to increase your renewal premiums. Not only will you pay higher rates, not being able to provide proof of insurance could result in a hefty fine and possibly a revoked license.
Affordable rates by getting discounts
Some providers don’t always publicize the entire discount list very well, so we researched a few of the more common and the harder-to-find credits that may apply to you.
- Anti-theft System – Cars with anti-theft systems help deter theft so companies will give you a small discount.
- Senior Citizen Rates – If you qualify as a senior citizen, you can get a small decrease in premiums.
- Clubs and Organizations – Being a member of a qualifying organization could qualify you for a break on your bill.
- Military Deployment Discount – Having a deployed family member could qualify you for better car insurance rates.
- Paperless Signup – A few car insurance companies will discount your bill up to fifty bucks for buying a policy and signing up on their website.
Just know that most discounts do not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as comp or med pay. So when it seems like all those discounts means the company will pay you, nobody gets a free ride.
Companies and the discounts they provide can be read below.
- 21st Century has savings for early bird, good student, homeowners, anti-lock brakes, driver training, and student driver.
- Progressive includes discounts for multi-vehicle, continuous coverage, homeowner, good student, multi-policy, and online signing.
- State Farm has discounts for Steer Clear safe driver discount, good driver, anti-theft, passive restraint, accident-free, good student, and student away at school.
- Nationwide discounts include multi-policy, easy pay, defensive driving, family plan, and accident-free.
- Esurance may include discounts for online shopper, renters, online quote, claim free, and anti-theft.
- The Hartford offers discounts including bundle, anti-theft, vehicle fuel type, good student, air bag, defensive driver, and driver training.
When getting a coverage quote, ask each insurance company the best way to save money. Some credits may not be offered in Albuquerque. For a list of insurers that offer some of these discounts in Albuquerque, click this link.
Independent versus exclusive auto insurance agents
Many people just prefer to have an agent’s advice and we recommend doing that Good insurance agents are trained to spot inefficiencies and help file insurance claims. A nice benefit of comparing car insurance online is that you can find the lowest rates but still work with a licensed agent.
To help locate an agent, after submitting this simple form, your coverage information is instantly submitted to agents in your area who will gladly provide quotes for your coverage. You never need to search for any insurance agencies because prices are sent immediately to your email address. If for some reason you want to quote rates from one company in particular, you just need to find their quoting web page and submit a quote form there.
Finding the right company should include more criteria than just a cheap price. A good agent in Albuquerque will have answers to these questions.
- Will the company cover a rental car if your car is getting fixed?
- How much experience to they have in personal lines coverages?
- Do they specialize in personal lines auto insurance in Albuquerque?
- Will they give you a referral list?
- How are claims handled?
When narrowing the list to find an insurance agent, there are two types of insurance agents and how they are distinctly different. Agents can be classified as either exclusive or independent. Both do a good job, but it’s worth mentioning why they differ since it may influence buying decisions.
Exclusive Agencies
Agents of this type can only place business with one company such as State Farm, AAA, and Liberty Mutual. They usually cannot provide rate quotes from other companies so you might not find the best rates. Exclusive agents are very knowledgeable in insurance sales which can be an advantage. Some consumers prefer to buy from the same agent for years primarily because of the prominence of the brand and solid financial strength.
Shown below is a list of exclusive agencies in Albuquerque willing to provide price quote information.
- Allstate Insurance: Eladio Muniz
1028 Eubank Blvd – Albuquerque, NM 87112 – (505) 291-0624 – View Map - Lanell Anderson – State Farm Insurance Agent
5600 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 881-0550 – View Map - Cynthia Bahling – State Farm Insurance Agent
12700 San Rafael Ave NE #2 – Albuquerque, NM 87122 – (505) 292-3934 – View Map
Independent Car Insurance Agents
Agents of this type do not have single company limitations and that is an advantage because they can write policies with multiple insurance companies and potentially find a lower price. If your premiums go up, your agent can switch companies and you can keep the same agent. When searching for an agent, you definitely need to get quotes from several independent insurance agents to ensure the widest selection of prices. Most independent agents also contract with smaller regional carriers that can offer cheaper rates than bigger companies.
Listed below is a list of independent insurance agencies in Albuquerque willing to provide comparison quotes.
- Webster Insurance Agency Inc
1201 Eubank Blvd Suite 3 – Albuquerque, NM 87112 – (505) 294-1497 – View Map - Berger Briggs Real Estate and Insurance Inc
4333 Pan American Fwy – Albuquerque, NM 87107 – (505) 247-0444 – View Map - Cress Insurance
6101 Moon St NE #1000 – Albuquerque, NM 87111 – (505) 822-8114 – View Map
New Mexico car insurance companies ranked
Insuring your vehicle with the top company can be difficult considering how many companies sell insurance in New Mexico. The company information shown below could help you select which auto insurers you want to consider buying from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
| Travelers | 80 | 87 | 87 | 83% | A++ | 85.2 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Don’t give up on cheap rates
In this article, we covered many tips how you can get a better price on Mitsubishi Raider insurance in Albuquerque. It’s most important to understand that the more price quotes you have, the better your chances of lowering your car insurance rates. Consumers may even find the biggest savings come from the least-expected company.
People leave their current company for many reasons like delays in paying claims, high rates after DUI convictions, policy non-renewal and even an unsatisfactory settlement offer. Regardless of your reason for switching companies, finding a new auto insurance company is easier than you think.
While you’re price shopping online, make sure you don’t reduce coverage to reduce premium. Too many times, an insured dropped physical damage coverage only to discover later they didn’t have enough coverage. Your objective should be to get the best coverage possible at the lowest possible cost, but don’t skip important coverages to save money.
Additional information can be read at the links below
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- What Insurance is Cheapest for College Students in Albuquerque? (FAQ)
- What Insurance is Cheapest for Lyft Drivers in Albuquerque? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Immigrants in Albuquerque? (FAQ)
- Who Has Cheap Albuquerque Auto Insurance Quotes After a Speeding Ticket? (FAQ)
- Who Has the Cheapest Auto Insurance for a Jeep Wrangler in Albuquerque? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Eight Auto Insurance Myths (Insurance Information Institute)