Best Insurance for a Nissan Altima in Albuquerque

If you want to save money, the best way to get more affordable Nissan Altima insurance in Albuquerque is to do an annual price comparison from insurers in New Mexico. Rate comparisons can be done by completing these steps.

A crucial key to this process is that you’ll want to make sure you compare similar coverage information on each quote request and and to get rates from as many companies as feasibly possible. This ensures a level playing field and many rates to choose from.

Insurance rates Nissan Altima in AlbuquerqueIt’s a known fact that car insurance companies don’t want you to look for a cheaper policy. Drivers who shop around for the cheapest price are inclined to buy a new policy because the odds are good of finding a more affordable policy. A recent study showed that people who compared prices regularly saved an average of $3,400 over four years compared to those who never shopped around.

If finding the cheapest rates on auto insurance is the reason you’re reading this, then learning about how to get price quotes and compare insurance premiums can help you be more efficient.

Facts and figures for Nissan Altima insurance

The information below showcases different insurance coverage prices for Nissan Altima models. Understanding more about how rate quotes are established is important for making decisions when choosing a new policy provider.

Nissan Altima Insurance Rates in Albuquerque, NM
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Altima 2.5 4-Dr Sedan $238 $490 $364 $22 $108 $1,222 $102
Altima 2.5 S 4-Dr Sedan $238 $578 $364 $22 $108 $1,310 $109
Altima Hybrid 4-Dr Sedan $270 $578 $364 $22 $108 $1,342 $112
Altima 2.5 S 2-Dr Coupe $270 $578 $412 $24 $124 $1,408 $117
Altima 3.5 SR 4-Dr Sedan $270 $578 $364 $22 $108 $1,342 $112
Altima 3.5 SR 2-Dr Coupe $270 $666 $412 $24 $124 $1,496 $125
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Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Rates do not factor in specific garaging location which can impact rates significantly.

Car insurance deductibles

A question often asked by Albuquerque drivers is the level to set your comp and collision deductibles. The comparison tables below may aid in understanding the differences in premium rates when you select higher and lower physical damage coverage deductibles. The first set of rates uses a $250 deductible for comp and collision and the second price grid uses a $500 deductible.

Nissan Altima insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Altima 2.5 4-Dr Sedan $248 $420 $322 $20 $96 $1,131 $94
Altima 2.5 S 4-Dr Sedan $248 $494 $322 $20 $96 $1,205 $100
Altima Hybrid 4-Dr Sedan $280 $494 $322 $20 $96 $1,237 $103
Altima 2.5 S 2-Dr Coupe $280 $494 $364 $22 $108 $1,293 $108
Altima 3.5 SR 4-Dr Sedan $280 $494 $322 $20 $96 $1,237 $103
Altima 3.5 SR 2-Dr Coupe $280 $570 $364 $22 $108 $1,369 $114
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Nissan Altima insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Altima 2.5 4-Dr Sedan $202 $338 $322 $20 $96 $978 $82
Altima 2.5 S 4-Dr Sedan $202 $398 $322 $20 $96 $1,038 $87
Altima Hybrid 4-Dr Sedan $228 $398 $322 $20 $96 $1,064 $89
Altima 2.5 S 2-Dr Coupe $228 $398 $364 $22 $108 $1,120 $93
Altima 3.5 SR 4-Dr Sedan $228 $398 $322 $20 $96 $1,064 $89
Altima 3.5 SR 2-Dr Coupe $228 $458 $364 $22 $108 $1,180 $98
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Premium amounts do not factor in specific location which can revise insurance rates noticeably.

We can derive from the above data that using a $250 deductible costs approximately $14 more each month or $168 a year than buying the higher $500 deductible. Since you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you usually have more than 18 months between claim filings, you would save more money if you choose a higher deductible.

Gender-based car insurance rates in Albuquerque

The diagram below shows the comparison of Nissan Altima insurance costs for male and female drivers. The rates are based on no violations or claims, comp and collision included, $250 deductibles, drivers are not married, and no other discounts are factored in.

Does full coverage make sense?

The information below illustrates the difference between Nissan Altima car insurance costs with and without full coverage. The rate quotes are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are single, and no other discounts are factored in.

When to stop buying comprehensive and collision coverage

There isn’t a steadfast formula that works best for making the decision to drop full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.

For example, let’s say your Nissan Altima claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after paying your policy deductible. If premium cost is more than $200 a year for your policy with full coverage, then you might consider buying liability only.

There are a few cases where only buying liability 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 your savings is not enough to buy a different vehicle if your current one is totaled, you should maintain full coverage.

Eight Tips to Get Cheaper Albuquerque Insurance Prices

A large part of saving on car insurance is knowing some of the factors that help determine your policy premiums. When consumers understand what determines base rates, this allows you to make good choices that may result in much lower annual insurance costs.

The itemized list below are some of the most rate-impacting factors car insurance companies consider when setting your rates.

Frequent claims will cost more – Insurance companies in New Mexico give lower rates to drivers who only file infrequent claims. If you’re an insured who likes to file claims you can definitely plan on much higher rates or policy non-renewal. Insurance coverage is designed for larger claims.

Being married can lower costs – Being married actually saves money when buying car insurance. Having a significant other generally demonstrates drivers are more mature and statistics prove married drivers tend to file fewer claims.

Lower rates by increasing deductibles – Comprehensive and collision coverage deductibles are how much you are willing to pay out-of-pocket before your car insurance pays a claim. Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some instances where coverage would apply are collision with another vehicle, vandalism, and damage caused by road hazards. The more damage repair cost you have to pay, the better rate you will receive.

Avoid tickets and save – Drivers with clean records pay lower auto insurance prices compared to drivers with tickets. Having just one citation can increase rates forty percent or more. Drivers with multiple violations such as DUI, reckless driving or excessive speeding may find that they have to to submit a SR-22 form with their state motor vehicle department in order to keep their license.

The information below shows how speeding tickets and at-fault collisions increase Nissan Altima insurance premiums for different age groups of insureds. The data assumes a married male driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.

Safety first – Vehicles with good safety scores tend to have lower insurance rates. Vehicles built for safety reduce occupant injuries and lower rates of occupant injuries translates directly to fewer claims which can result in lower premiums.

Never let your coverage lapse – Having a lapse in insurance coverage can be a sure-fire way to trigger a rate increase. In addition to paying higher rates, failure to provide proof of insurance may earn you a license revocation or jail time.

Only buy coverage you need – Policies have optional add-on coverages that you can buy but may not be useful. Coverages like rental car coverage, accident forgiveness, and extra equipment coverage could be just wasting money. They may seem like a good idea when talking to your agent, but if you don’t need them eliminate the coverages to reduce your premium.

Amount of liability insurance – The liability section of your policy will protect you in the event that you are found to be at fault for damages from an accident. It provides for a legal defense which can cost a lot. This coverage is very inexpensive compared to physical damage coverage, so buy as much as you can afford.

Insurance losses for a Nissan Altima – Insurers take into consideration historical loss data for every vehicle to help set a rate to offset losses. Models that historically have higher losses will have increased rates. The table shown below demonstrates the insurance loss data for Nissan Altima vehicles.

For each policy coverage, the claim probability for all vehicles averaged together is represented as 100. Numbers shown that are under 100 imply a favorable loss record, while values that are 100 or greater point to more losses or an increased chance of larger losses than average.

Car Insurance Loss Data for Nissan Altima Models
Specific Nissan Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Nissan Altima 110 97 119 144 147 114

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

A conclusion for your car insurance search

More affordable car insurance in Albuquerque is available on the web in addition to many Albuquerque insurance agents, and you need to price shop both to get a complete price analysis. There are still a few companies who may not offer online price quotes and these smaller companies sell through independent agencies.

When buying insurance coverage, don’t be tempted to skimp on coverage in order to save money. In too many instances, an insured dropped liability coverage limits and discovered at claim time that a couple dollars of savings turned into a financial nightmare. Your strategy should be to purchase a proper amount of coverage at the best price but still have enough coverage for asset protection.

Much more information about car insurance in New Mexico can be read at the links below