We don’t have to tell you that auto insurance companies don’t want policyholders to shop around. Drivers who get comparison quotes at least once a year will presumably switch companies because there is a good chance of finding a lower-priced company. A survey found that people who faithfully checked for cheaper rates saved $865 a year compared to drivers who never compared rates.
If finding budget-friendly rates on Pontiac GTO insurance is your ultimate target, then having an understanding of how to get free comparison quotes and analyze insurance coverage can make it easier to find better rates.
The best way we recommend to get affordable car insurance rates in Albuquerque is to compare quotes once a year from providers in New Mexico. Drivers can shop around by following these steps.
- Step 1: Spend some time learning about how companies price auto insurance and the factors you can control to prevent high rates. Many policy risk factors that result in higher rates like at-fault accidents, careless driving, and a less-than-favorable credit score can be eliminated by being financially responsible and driving safely. This article provides additional ideas to help prevent costly coverage and find overlooked discounts.
- Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only quote rates from a single company like Progressive or Allstate, while independent agencies can provide price quotes from multiple insurance companies.
- Step 3: Compare the new rate quotes to your current policy premium and see if there is a cheaper rate in Albuquerque. If you can save some money and switch companies, ensure there is no coverage lapse between policies.
An important note is to try to compare the same level of coverage on each quote and and to get price quotes from as many companies as feasibly possible. This enables an accurate price comparison and many rates to choose from.
The purpose of this post is to help you learn the best way to buy inexpensive insurance and how you can save the most money. If you have a current insurance policy, you stand a good chance to be able to find the best rates using the concepts you’re about to learn. Although New Mexico vehicle owners do need to learn how insurance companies calculate their prices and apply this information to your search.
When price shopping your coverage, comparing a large number of companies helps improve the odds of finding better pricing.
The companies shown below are ready to provide price quotes in Albuquerque, NM. To get cheap car insurance in New Mexico, we recommend you get price quotes from several of them to get the cheapest price.
Insurance policy discounts you can’t miss
Some companies do not advertise every discount available very well, so the below list has some of the best known and also the lesser-known credits that you can use to lower your rates.
- New Vehicle Savings – Putting coverage on a new GTO can get you a discount compared to insuring an older model.
- Save with More Vehicles Insured – Buying a policy with primary and secondary vehicles with the same insurance company qualifies for this discount.
- Smart Student Discounts – Excelling in school can be rewarded with saving of up to 25%. The good student discount can last up until you turn 25.
- Seat Belt Discounts – Drivers who require all vehicle occupants to buckle up may be able to save a few bucks off the PIP or medical payment premium.
- Payment Method – If you can afford to pay the entire bill instead of making monthly payments you may reduce your total bill.
- College Student Discount – Any of your kids who live away from home to go to college and leave their car at home can receive lower rates.
- Active Service Discounts – Having a family member in the military can result in better insurance rates.
- Driver’s Education for Students – Cut your cost by having your teen driver successfully take a driver’s education course if it’s offered in school.
As a disclaimer on discounts, many deductions do not apply to the whole policy. Most only cut individual premiums such as liability and collision coverage. Despite the fact that it seems like having all the discounts means you get insurance for free, you’re out of luck. But all discounts will lower your overall premium however.
A list of companies and a summarized list of policyholder discounts are detailed below.
- Progressive offers discounts including online signing, good student, multi-policy, online quote discount, and homeowner.
- AAA discounts include AAA membership discount, education and occupation, good student, multi-car, anti-theft, pay-in-full, and good driver.
- Farmers Insurance offers discounts for electronic funds transfer, youthful driver, business and professional, switch companies, and good student.
- GEICO policyholders can earn discounts including multi-vehicle, good student, anti-lock brakes, seat belt use, and daytime running lights.
- Esurance has savings for anti-theft, renters, online quote, Switch & Save, DriveSense, good student, and homeowner.
- SAFECO has discounts for bundle discounts, multi-car, accident prevention training, homeowner, teen safe driver, drive less, and teen safety rewards.
- State Farm offers premium reductions for accident-free, driver’s education, multiple policy, good student, and anti-theft.
If you want low cost Albuquerque auto insurance quotes, ask each company or agent which discounts you may be entitled to. Some discounts might not be offered on policies in Albuquerque.
Local Albuquerque car insurance agents
Many drivers would prefer to have an agent’s advice and doing that can be a smart decision The best thing about comparing insurance prices online is that drivers can save money and get better rates but still work with a licensed agent. Buying from neighborhood insurance agencies is still important in Albuquerque.
To make it easy to find an agent, after completing this quick form, your insurance coverage information gets sent to local insurance agents who will give you quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to find an agent on your own since price quotes are sent immediately to you. You can most likely find cheaper rates and an insurance agent to talk to. If you have a need to quote rates from a particular provider, you just need to find their quoting web page to submit a rate quote request.
Choose an insurance agent wisely
When looking for a local agent, it’s helpful to know the different types of agents from which to choose. Auto insurance agents are classified as either exclusive or independent.
Independent Auto Insurance Agents (or Brokers)
These agents do not work for one specific company so they can quote policies with lots of companies and potentially find a lower price. If prices rise, your agent can switch companies and you stay with the same agent.
When comparing rate quotes, we highly recommend that you check rates from a couple of independent agencies to get the most accurate price comparison.
Featured below are independent insurance agents in Albuquerque that may be able to give you free price quotes.
J. B. Martin Insurance Agency
8500 Menaul Blvd NE #345 – Albuquerque, NM 87112 – (505) 888-8846 – View Map
Daniels Insurance Inc
320 Gold Ave SW # 700 – Albuquerque, NM 87102 – (505) 766-9676 – View Map
Menicucci Insurance Llc
2116 Vista Oeste NW Bldg 5 – Albuquerque, NM 87120 – (505) 883-3683 – View Map
Exclusive agents normally can only provide a single company’s rates like Allstate, Farmers Insurance or State Farm. Exclusive agents cannot give you multiple price quotes so keep that in mind. Exclusive agencies are highly trained on their products and sales techniques and that allows them to sell at a higher price point.
Below is a short list of exclusive insurance agents in Albuquerque that can give you price quotes.
Michele Romero – State Farm Insurance Agent
3904 Carlisle Blvd NE c – Albuquerque, NM 87107 – (505) 881-7000 – View Map
Mike Volk – State Farm Insurance Agent
3716 Central Ave SE – Albuquerque, NM 87108 – (505) 232-2886 – View Map
Tim Gallegos – State Farm Insurance Agent
1100 Coors Blvd SW, Ste B2 – Albuquerque, NM 87121 – (505) 200-2319 – View Map
Finding the right car insurance agent requires more thought than just a cheap quote. These are some valid questions you should ask.
- How would your car be valued if totaled?
- Will the quote change when the policy is issued?
- How much can you save by raising your physical damage deductibles?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Do the coverages you’re quoting properly cover your vehicle?
Good Decisions Result in Lower Insurance Prices
An important part of buying insurance is that you know the different types of things that play a part in calculating your insurance rates. When consumers understand what determines base rates, this enables you to make decisions that may result in lower rates. Many things are taken into consideration when quoting car insurance. Some are obvious like a motor vehicle report, but others are not as apparent like where you live or your vehicle rating.
The itemized list below are just a few of the factors companies use to determine premiums.
- Drive less and save – The more you drive your Pontiac each year the higher the price you pay to insure it. A lot of companies rate vehicles based upon how the vehicle is primarily used. Vehicles that have low annual miles get more affordable rates than those used for commuting. A policy that improperly rates your GTO may be costing you higher rates. It’s always a good idea to double check that your insurance policy is rated on the correct driver usage, because it can save money.
- Combine policies and save – The majority of insurance companies will give a discount to people that buy multiple policies, otherwise known as a multi-policy discount. Even with this discount applied, it’s still a good idea to compare other Albuquerque GTO insurance rates to guarantee you are still saving the most.
- Drive a safer car and pay less – Vehicles with good safety scores are cheaper to insure. Vehicles engineered for safety reduce injuries and fewer serious injuries means less claims paid passed on to you as lower rates.
- Pay more for higher performance vehicles – The type of car you are buying insurance for makes a huge difference in your car insurance bill. Smaller low performance passenger vehicles normally have pretty low rates, but many other things help determine your insurance rates.
- No policy claims equals better prices – If you are a frequent claim filer, you shouldn’t be surprised to get increased rates or even have your policy non-renewed. Companies in New Mexico provide the lowest premiums to people who do not rely on their insurance for small claims. Auto insurance is intended to be relied upon for the large, substantial claims.
- Don’t skimp on liability protection – Liability coverage is the coverage that protects you when you are determined to be liable for personal injury or accident damage. Your policy’s liability insurance provides you with a defense in court to defend your case. Liability insurance is pretty cheap compared to comp and collision, so drivers should carry high limits.
- Do you know your physical damage deductibles? – Physical damage coverage, aka comp and collision, covers your vehicle from damage. Examples of some claims that would be covered are running into the backend of another car, vandalism, and windstorm damage. The deductibles tell how much you are required to pay before your insurance pays a claim. The more expense you choose to pay out-of-pocket, the lower your rates will be.
Three main reasons to buy insurance
Despite the high cost of buying insurance for a Pontiac GTO in Albuquerque, insuring your vehicle is required by state law in New Mexico and it also provides benefits you may not be aware of.
- Just about all states have mandatory liability insurance requirements which means the state requires a specific level of liability insurance coverage in order to get the vehicle licensed. 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 GTO, it’s guaranteed your bank will require you to have comprehensive coverage to guarantee their interest in the vehicle. If coverage lapses or is canceled, the bank will be required to insure your Pontiac at a much higher premium rate and force you to reimburse them for it.
- Insurance protects both your assets and your Pontiac. It will also cover medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of buying enough insurance are without a doubt worth the cost, especially when you need to use it. But the average American driver overpays as much as $830 a year so it’s recommended you shop around once a year at a minimum to save money.
Best car insurance in Albuquerque
Ending up with the best insurance provider is hard considering how many choices you have in Albuquerque. The company information in the lists below could help you select which insurers to look at comparing price quotes from.
Top 10 Albuquerque Car Insurance Companies Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- 21st Century – 88%
- Liberty Mutual – 88%
- Allstate – 88%
Throughout this article, we presented a lot of information how to lower your Pontiac GTO insurance rates in Albuquerque. The key thing to remember is the more times you quote, the better chance you’ll have of finding cheaper Albuquerque auto insurance quotes. You may even find the lowest rates come from the least-expected company. Smaller companies may cover specific market segments cheaper than their larger competitors like Allstate and Progressive.
As you go through the steps to switch your coverage, do not skimp on critical coverages to save a buck or two. In many cases, drivers have reduced physical damage coverage only to discover later that the few dollars in savings costed them thousands. The ultimate goal is to buy the best coverage you can find at the lowest possible cost while still protecting your assets.
A few companies may not provide online quoting and usually these regional insurance providers provide coverage only through independent insurance agencies. Cheap Pontiac GTO insurance in Albuquerque is available online and with local Albuquerque insurance agents, and you need to price shop both so you have a total pricing picture.
More information can be found on the following sites:
- Neck Injury FAQ (iihs.org)
- How Much are Albuquerque Auto Insurance Rates for Unemployed Drivers? (FAQ)
- Who Has Affordable Car Insurance Rates for Uninsured Drivers in Albuquerque? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Young Drivers in Albuquerque? (FAQ)
- Who Has Affordable Albuquerque Auto Insurance for a Toyota Corolla? (FAQ)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Vehicle Size and Weight FAQ (iihs.org)
- Top Signs Your Brakes are Giving Out (State Farm)