Expensive Toyota Yaris insurance in Albuquerque can sap your checking account and make it hard to pay other bills. Getting a rate comparison is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income.
It’s an obvious assumption that car insurance companies don’t want policyholders to compare prices from other companies. Drivers who compare other prices are highly likely to move their business because of the high probability of finding a cheaper policy. A recent insurance study discovered that people who compared rate quotes regularly saved on average $3,450 over four years as compared to drivers who never compared prices.
If finding the lowest rates on auto insurance is your intention, then knowing how to get rate quotes and compare car insurance can help you succeed in saving money.
Lots of auto insurance companies contend for your business, and because of this it can be hard to compare insurance companies to get the best rate on Toyota Yaris insurance in Albuquerque.
It’s smart to compare rates periodically because insurance prices tend to go up over time. Just because you had the best rates on Toyota Yaris insurance in Albuquerque a year ago other companies may now be cheaper. Forget all the misinformation about insurance because we’re going to demonstrate the proper way to buy cheaper Toyota Yaris insurance in Albuquerque.
If you are insured now, you should be able to lower your rates using this information. Finding the cheapest coverage in Albuquerque is not rocket science. Nevertheless, New Mexico consumers must learn the way companies sell online because it varies considerably.
Companies offering competitive Toyota Yaris rate quotes in Albuquerque, NM
The companies shown below are ready to provide price comparisons in New Mexico. To buy cheap auto insurance in New Mexico, we recommend you compare several of them to get the best price comparison.
Insurance coverage details
The data table displayed below showcases detailed analysis of insurance prices for Toyota Yaris models. Being more informed about how rates are calculated is important for you to make decisions when choosing a new policy provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yaris 2-Dr Hatchback||$276||$500||$476||$28||$142||$1,422||$119|
|Yaris 4-Dr Hatchback||$276||$500||$422||$24||$126||$1,348||$112|
|Yaris 4-Dr Sedan||$276||$500||$422||$24||$126||$1,348||$112|
|Yaris S 2-Dr Hatchback||$316||$500||$476||$28||$142||$1,462||$122|
|Yaris S 4-Dr Hatchback||$316||$500||$422||$24||$126||$1,388||$116|
|Yaris S 4-Dr Sedan||$316||$500||$422||$24||$126||$1,388||$116|
|Get Your Own Custom Quote Go|
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Rates do not factor in specific Albuquerque garaging location which can affect rates substantially.
The illustration below illustrates how choosing a deductible and can impact Toyota Yaris insurance costs for each different age category. The premium estimates are based on a married female driver, comp and collision included, and no policy discounts are applied.
Safe drivers pay cheaper rates
The diagram below demonstrates how traffic citations and accidents can drive up Toyota Yaris insurance rates for different age groups. The rates are based on a single female driver, full physical damage coverage, $100 deductibles, and no other discounts are factored in.
Auto insurance policy discounts for Toyota Yaris insurance in Albuquerque
Some insurance providers don’t list every discount available in a way that’s easy to find, so the following is a list of a few of the more well known and the harder-to-find credits that you can use to lower your rates. If you aren’t receiving every discount you deserve, you may be paying too high a price.
- Albuquerque Homeowners Discount – Owning a home in Albuquerque can earn you a little savings because of the fact that having a home shows financial diligence.
- Discount for Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems may qualify for discounts of more than 20%.
- Anti-lock Brake Discount – Vehicles that have steering control and anti-lock brakes have fewer accidents so you can save 10 percent or more.
- Pay Upfront and Save – By paying your entire bill at once instead of making monthly payments you can actually save on your bill.
- Lower Rates for Military – Having an actively deployed family member may qualify for rate reductions.
- Safe Drivers – Insureds without accidents could pay up to 40% less as compared to drivers with claims.
- Telematics Devices – Drivers that enable their insurance company to monitor when and where they use their vehicle by using a telematics device like Drivewise from Allstate or In-Drive from State Farm may see discounts as long as the data is positive.
- Theft Deterrent – Anti-theft and alarm system equipped vehicles are less likely to be stolen and can earn a small discount on your policy.
Discounts save money, but please remember that most discounts do not apply to your bottom line cost. Some only apply to the price of certain insurance coverages like collision or personal injury protection. Despite the fact that it seems like you would end up receiving a 100% discount, it’s just not the way it works.
The information below visualizes the comparison of Toyota Yaris insurance costs with and without discounts applied to the premium. The rate quotes are based on a male driver, no claims or driving citations, New Mexico state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, marriage, safe-driver, claim-free, and multi-policy discounts applied.
The best auto insurance companies and their offered discounts are shown below.
- AAA has discounts for multi-car, good driver, AAA membership discount, multi-policy, education and occupation, and anti-theft.
- Progressive offers premium reductions for multi-policy, online quote discount, good student, continuous coverage, and multi-vehicle.
- State Farm includes discounts for good driver, Drive Safe & Save, student away at school, accident-free, multiple policy, good student, and driver’s education.
- Esurance may have discounts that include claim free, multi-policy, safety device, DriveSense, Switch & Save, and defensive driver.
- Nationwide may include discounts for anti-theft, multi-policy, good student, Farm Bureau membership, accident-free, business or organization, and defensive driving.
If you need lower rates, check with every company the best way to save money. A few discounts might not apply in Albuquerque. To view insurers who offer auto insurance discounts in New Mexico, follow this link.
What is the best insurance coverage?
When choosing a policy for your vehicles, there really is not a best way to insure your cars. Each situation is unique so this has to be addressed.
These are some specific questions may help you determine whether or not you might need professional guidance.
- What is roadside assistance coverage?
- Does my liability insurance cover pulling a trailer or camper?
- Do I really need UM/UIM coverage?
- If I use my vehicle for business use is it covered?
- Do I have newly-acquired coverage?
- Is a driver training discount available?
- What is the minimum liability in New Mexico?
- Is my babysitter covered when using my vehicle?
- Do I need rental car coverage?
- How long can I keep a teen driver on my policy?
If you’re not sure about those questions then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.
When to talk to a local insurance agent
Some people prefer to buy from a local agent. The best thing about comparing rates online is that you can find cheap car insurance rates and still choose a local agent. Supporting local agencies is important especially in Albuquerque.
After filling out this quick form, your coverage information is submitted to agents in your area who will return price quotes to get your business. It makes it easy because there is no need to find an agent because quoted prices will be sent directly to your email. You can find better rates without the usual hassles of price shopping. If you have a need to compare prices from a specific insurance company, don’t hesitate to search and find their rate quote page and fill out the quote form the provide.
Different types of car insurance agents in Albuquerque
If you want to use a local agent, there are two different types of agents and how they work. Insurance agencies in Albuquerque can either be independent (non-exclusive) or exclusive.
Independent Car Insurance Agents
These type of agents are not employed by any specific company and that enables them to quote your coverage with any number of different companies and find you the best rates. To move your coverage to a new company, they simply move the coverage in-house and you don’t have to do anything. When comparing car insurance prices, you should always get rate quotes from a few independent agents to have the most options to choose from.
Shown below are Albuquerque independent agents that may be able to give free car insurance quotes.
J B Martin Commercial, Homeowners, Auto, Health and Life Insurance Agency
2800 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 299-7444 – View Map
J. B. Martin Insurance Agency
8500 Menaul Blvd NE #345 – Albuquerque, NM 87112 – (505) 888-8846 – View Map
Exclusive Car Insurance Agents
Agents of this type can only provide one company’s prices such as AAA, Allstate, and State Farm. Exclusive agencies are unable to give you multiple price quotes so they really need to provide good service. They are trained well on the products they sell which helps offset the inability to provide other markets.
Listed below is a short list of exclusive insurance agencies in Albuquerque who can help you get comparison quotes.
Picking the best auto insurance agent needs to be determined by more than just a low price. These are some valid questions you should ask.
- Does the company allow you to choose your own collision repair facility?
- Will you work with the agent or an assistant?
- Do the agents have professional certifications like CPCU or CIC?
- What kind of financial rating does the company have?
- How is replacement cost determined on your vehicle?
- What insurance company do they write the most business with?
- Do they offer rental car reimbursement?
Car insurance coverage information
Knowing the specifics of a car insurance policy can be of help when determining the right coverages for your vehicles. Car insurance terms can be difficult to understand and nobody wants to actually read their policy. Below you’ll find the normal coverages found on most car insurance policies.
Uninsured and underinsured coverage – Your UM/UIM coverage provides protection when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and also any damage incurred to your Toyota Yaris.
Since a lot of drivers only carry the minimum required liability limits (25/50/10 in New Mexico), their limits can quickly be used up. So UM/UIM coverage should not be overlooked. Normally your uninsured/underinsured motorist coverages are set the same as your liability limits.
Collision coverage – Collision coverage pays to fix your vehicle from damage resulting from a collision with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as backing into a parked car, sideswiping another vehicle, crashing into a ditch and damaging your car on a curb. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. It’s also possible to increase the deductible on your Yaris to save money on collision insurance.
Liability car insurance – Liability coverage provides protection from damages or injuries you inflict on people or other property that is your fault. This insurance protects YOU against other people’s claims, and does not provide coverage for your injuries or vehicle damage.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 25/50/10 which means $25,000 bodily injury coverage, $50,000 for the entire accident, and property damage coverage for $10,000. Alternatively, you may have one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability coverage protects against things such as medical expenses, court costs, emergency aid, bail bonds and pain and suffering. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as much as you can afford. New Mexico requires drivers to carry at least 25/50/10 but you should think about purchasing more liability than the minimum.
The illustration below demonstrates why buying low liability limits may not be enough.
Comprehensive coverages – This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive coverage pays for things like damage from flooding, damage from a tornado or hurricane and falling objects. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Coverage for medical payments – Med pay and PIP coverage pay for expenses for surgery, ambulance fees, pain medications and chiropractic care. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is not an option in every state and may carry a deductible
Don’t give up on cheaper coverage
We covered a lot of techniques to compare Toyota Yaris insurance premium rates in Albuquerque. The most important thing to understand is the more companies you get prices for, the better your chances of lowering your prices. Drivers may even discover the most savings is with an unexpected company. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as Progressive and GEICO.
There are still a few companies who may not have the ability to get a quote online and these small, regional companies sell through independent agents. Lower-priced car insurance in Albuquerque can be sourced both online as well as from insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates.
As you prepare to switch companies, it’s a bad idea to reduce coverage to reduce premium. There are many occasions where an insured dropped collision coverage only to regret at claim time that it was a big mistake. Your objective should be to buy the best coverage you can find at the best price.
Steps to buying lower priced Toyota Yaris insurance in Albuquerque
It takes a few minutes, but the best way to get cheaper Toyota Yaris insurance is to annually compare prices from companies in Albuquerque.
- First, learn about the different coverages in a policy and the things you can change to prevent high rates. Many rating factors that result in higher prices such as multiple speeding tickets and an unacceptable credit rating can be rectified by making lifestyle changes or driving safer.
- Second, get rate quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from a single company like Progressive and State Farm, while agents who are independent can quote rates from multiple sources. Find an Albuquerque insurance agent
- Third, compare the new rate quotes to your existing policy to see if a cheaper price is available. If you find a better price and switch companies, ensure coverage does not lapse between policies.
- Fourth, provide adequate notice to your current company to cancel your current auto insurance policy and submit payment and a signed application to the new company. Be sure to place the new certificate verifying proof of insurance in an accessible location in your vehicle.
A valuable tip to remember is to use similar coverage information on every quote and and to get rates from every company you can. This ensures a fair price comparison and many rates to choose from.
For more information, feel free to browse the resources below:
- Vehicle Safety Ratings (iihs.org)
- What Auto Insurance is Cheapest for High Risk Drivers in Albuquerque? (FAQ)
- How Much are Auto Insurance Rates for Drivers Under 21 in Albuquerque? (FAQ)
- Who Has Affordable Albuquerque Car Insurance for a Ford Edge? (FAQ)
- Your Car has been Stolen: Now What? (Allstate)
- Car Insurance FAQ (Trusted Choice)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- Learn About Car Insurance (GEICO)