Cheapest Insurance for a Toyota Sienna in Albuquerque

Insurance for Toyota SiennaA recent survey discovered that over 70% of consumers kept their policy with the same company for a minimum of four years, and approximately 40% of consumers have never compared auto insurance rates at all. With the average auto insurance premium being $1,240, New Mexico drivers could save themselves approximately $474 a year just by comparing rates, but they don’t know how much money they would save if they switched to a cheaper policy.

If saving the most money is your goal, then the best way to find more affordable Toyota Sienna insurance in Albuquerque is to start doing a yearly price comparison from companies who provide auto insurance in New Mexico.

The most important part of shopping around is to make sure you enter identical limits and deductibles on each quote request and and to analyze as many different companies as possible. This helps ensure an accurate price comparison and a complete price analysis.

Smart Buyers Save More

Consumers need to have an understanding of the factors that help determine the level of your policy premiums. If you have some idea of what determines base rates, this enables you to make decisions that will entitle you to lower premium levels.

The itemized list below are some of the most common factors companies use to determine your rates.

The best way to get rate comparisons for Toyota Sienna insurance in Albuquerque is to know the fact all the major auto insurance companies will pay a fee to quote your coverage. All consumers are required to do is provide a small amount of information like how many miles driven, if a SR-22 is needed, how old drivers are, and if you have an active license. Those rating factors is submitted instantly to insurance companies and they return rate quotes quickly.

If you would like to start a quote now, click here and complete the quick form.

The following companies provide free quotes in New Mexico. In order to find the cheapest car insurance in Albuquerque, we recommend you compare several of them in order to get a fair rate comparison.

Car insurance statistics for a Toyota Sienna

The premium table displayed next outlines different prices for Toyota Sienna models. Learning how prices are calculated is important for making informed purchases.

Toyota Sienna Insurance Rates in Albuquerque, NM
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sienna CE $208 $490 $364 $22 $108 $1,192 $99
Sienna LE $238 $490 $364 $22 $108 $1,222 $102
Sienna LE AWD $238 $490 $364 $22 $108 $1,222 $102
Sienna XLE $238 $490 $364 $22 $108 $1,222 $102
Sienna XLE AWD $238 $578 $364 $22 $108 $1,310 $109
Sienna Limited $270 $578 $364 $22 $108 $1,342 $112
Sienna Limited AWD $270 $578 $364 $22 $108 $1,342 $112
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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 homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Rate quotes do not factor in vehicle garaging location which can raise or lower insurance rates greatly.

Should you raise deductibles?

When shopping for car insurance, a common question is how high or low should comp and collision deductibles be. The following tables help summarize the differences in premium rates when you choose different deductibles. The first table uses a $250 deductible for comprehensive and collision coverage and the second set of prices uses a $1,000 deductible.

Toyota Sienna insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sienna CE $216 $420 $322 $20 $96 $1,099 $92
Sienna LE $248 $420 $322 $20 $96 $1,131 $94
Sienna LE AWD $248 $420 $322 $20 $96 $1,131 $94
Sienna XLE $248 $420 $322 $20 $96 $1,131 $94
Sienna XLE AWD $248 $494 $322 $20 $96 $1,205 $100
Sienna Limited $280 $494 $322 $20 $96 $1,237 $103
Sienna Limited AWD $280 $494 $322 $20 $96 $1,237 $103
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Toyota Sienna insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sienna CE $134 $264 $322 $20 $96 $836 $70
Sienna LE $154 $264 $322 $20 $96 $856 $71
Sienna LE AWD $154 $264 $322 $20 $96 $856 $71
Sienna XLE $154 $264 $322 $20 $96 $856 $71
Sienna XLE AWD $154 $310 $322 $20 $96 $902 $75
Sienna Limited $174 $310 $322 $20 $96 $922 $77
Sienna Limited AWD $174 $310 $322 $20 $96 $922 $77
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Premium costs do not factor in specific location which can lower or raise premium rates significantly.

Based on these figures, using a $250 deductible could cost the average driver approximately $24 more each month or $288 a year averaged for all Sienna models than buying the higher $1,000 deductible. Because you would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you have at least 31 months between claims, you would more than likely save some money if you choose the higher deductible.

Drive safe and save

The information below illustrates how traffic citations and accident claims can influence Toyota Sienna insurance premiums for different age groups. The data is based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.

Toyota Sienna insurance rates by gender in Albuquerque

The diagram below compares Toyota Sienna premium costs for male and female drivers. The premiums are based on no claims or driving violations, full coverage, $500 deductibles, drivers are single, and no other discounts are factored in.

Rate difference between full and liability-only coverage

The information below illustrates the comparison of Toyota Sienna insurance rates with full coverage and liability only. The prices are based on no claims, a clean driving record, $1,000 deductibles, single status, and no other discounts are factored in.

Guidelines for dropping full coverage

There isn’t a written rule of when to phase out physical damage insurance, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

For example, let’s assume your Toyota Sienna book value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $3,000 after the deductible is paid. If premium cost is more than $300 a year for your policy with full coverage, then it may be the right time to buy liability only.

There are some conditions where dropping physical damage coverage is not financially feasible. If you still owe a portion of the original loan, you have to carry full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.

Why you need insurance

Even though it’s not necessarily cheap to insure a Toyota in Albuquerque, insurance is mandatory in New Mexico but it also protects more than you think.

First, most states have minimum mandated liability insurance limits which means you are required to carry a specific minimum amount of liability coverage if you want to drive legally. 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 took out a loan on your Toyota Sienna, it’s most likely the lender will require that you have full coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the lender will be forced to insure your Toyota at a much higher premium rate and require you to reimburse them for the expensive policy.

Third, insurance protects both your vehicle and your personal assets. It will also provide coverage for all forms of medical expenses for yourself as well as anyone injured by you. Liability coverage will also pay for a defense attorney in the event you are sued. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of carrying adequate insurance greatly outweigh the cost, especially for larger claims. The average driver in New Mexico overpays more than $855 a year so compare rates at every renewal to make sure the price is not too high.

Cheap Albuquerque auto insurance quotes with discounts

Companies that sell car insurance don’t necessarily list every discount available in a way that’s easy to find, so we took the time to find a few of the more well known and also the lesser-known discounts you could be receiving when you buy Albuquerque auto insurance online.Cheaper auto insurance with discounts

You should keep in mind that most credits do not apply to your bottom line cost. A few only apply to the cost of specific coverages such as liability, collision or medical payments. So when it seems like adding up those discounts means a free policy, that’s just not realistic.

The chart below shows the difference between Toyota Sienna premium costs with and without discounts applied to the policy rates. The price estimates are based on a female driver, no claims or violations, New Mexico state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, safe-driver, claim-free, marriage, and multi-policy discounts applied.

Some of the larger companies who might offer some of the above discounts are:

Check with each insurance company what discounts are available to you. A few discounts might not be offered in every state. To choose insurers that provide some of the discounts listed above in Albuquerque, click here to view.

Shop online but buy locally

Many drivers would prefer to talk to a local agent and that can be a great decision One of the benefits of comparing insurance prices online is that drivers can save money and get lower rates but also keep your business local.

Insurance agents in AlbuquerqueTo help locate an agent, after submitting this simple form, the coverage information is transmitted to agents in your area that give free quotes for your auto insurance coverage. It’s much easier because you don’t need to search for an agent since rate quotes are delivered straight to your inbox. You can get cheaper auto insurance rates and a licensed agent to talk to. If you have a need to get a comparison quote from a specific insurance company, you just need to jump over to their website and fill out their quote form.

Finding the right insurance company should depend on more than just a cheap price quote. A good agent in Albuquerque will have answers to these questions.

Listed below is a short list of auto insurance companies in Albuquerque willing to provide comparison quotes for Toyota Sienna insurance in Albuquerque.

2800 San Mateo Blvd NEAlbuquerque, NM 87110(505) 299-7444View Map

2716 San Pedro Dr NEAlbuquerque, NM 87110(505) 881-1008View Map

10200 Golf Course Rd NW aAlbuquerque, NM 87114(505) 898-4273View Map

1808 Lomas Blvd NW bAlbuquerque, NM 87104(505) 247-2921View Map

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Quote often and quote early

We covered some good ideas how you can save on Toyota Sienna insurance in Albuquerque. The key concept to understand is the more price quotes you have, the better likelihood of getting the cheapest Toyota Sienna rate quotes. Consumers could even find that the lowest rates are with the least-expected company. Some small companies may cover specific market segments cheaper than the large multi-state companies such as State Farm or Progressive.

When buying insurance coverage, never buy lower coverage limits just to save a few bucks. In many cases, someone dropped liability coverage limits and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal should be to purchase a proper amount of coverage at an affordable rate, but do not skimp to save money.

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