Surprisingly, a recent survey revealed that the vast majority of car insurance customers have purchased from the same company for over three years, and nearly half have never shopped around. Many consumers in Albuquerque could cut their rates by almost 40% a year, but most just don’t grasp how much money they would save if they switched to a cheaper policy.
The best way to get discount auto insurance rates is to start comparing rates regularly from companies who provide car insurance in Albuquerque.
- Step 1: Read and learn about how companies price auto insurance and the things you can control to prevent rate increases. Many rating criteria that drive up the price like distracted driving and an unacceptable credit history can be controlled by making minor changes in your lifestyle. Continue reading for additional ideas to prevent expensive rate increases and get additional discounts that may be available.
- Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like GEICO and State Farm, while independent agencies can provide prices from multiple insurance companies.
- Step 3: Compare the quotes to the price on your current policy to see if a cheaper price is available in Albuquerque. If you find a better price and buy the policy, ensure coverage does not lapse between policies.
- Step 4: Give proper notification to your current agent or company of your decision to cancel your current coverage and submit a down payment along with a signed application to the new insurer. Once received, store the proof of insurance paperwork in a readily accessible location in your vehicle.
One bit of advice is to use identical deductibles and limits on each price quote and and to analyze as many companies as you can. Doing this enables the most accurate price comparison and a good representation of prices.
Cheap car insurance in Albuquerque, NM
The companies shown below offer comparison quotes in Albuquerque, NM. To get cheap car insurance in NM, we suggest you compare several of them to find the most affordable car insurance rates.
Discounts for affordable insurance rates
Insurance is not an enjoyable expense, but companies offer discounts to help bring down the price. A few discounts will be applied when you get a quote, but some need to be requested specifically before being credited. If you aren’t receiving every discount you deserve, you could be getting lower rates.
- Membership in Organizations – Participating in qualifying clubs or civic groups is a simple method to lower premiums on your next insurance statement.
- Defensive Driving Course – Taking time to complete a defensive driver class could save 5% or more and also improve your driving technique.
- Anti-lock Brake Discount – Anti-lock brake equipped vehicles can avoid accidents and qualify for as much as a 10% discount.
- Drivers Ed for Students – Cut your cost by having your teen driver successfully complete driver’s ed class as it can save substantially.
- Multi-line Discount – Larger insurance companies have a small discount if you purchase auto and life insurance together.
- Accident Free – Insureds who avoid accidents and claims can save substantially when compared to bad drivers.
- Good Grades Discount – Being a good student can get you a discount of up to 25%. Most companies allow this discount up to age 25.
- Discount for Low Mileage – Driving less could be rewarded with lower prices on the low mileage vehicles.
- Senior Citizens – Mature drivers may qualify for lower premium rates.
As a footnote on discounts, some of the credits will not apply to your bottom line cost. Some only reduce the cost of specific coverages such as liability and collision coverage. Despite the appearance that adding up those discounts means a free policy, company stockholders wouldn’t be very happy.
A few of the larger companies and a partial list of their discounts are:
- State Farm may include discounts for Steer Clear safe driver discount, anti-theft, good driver, driver’s education, accident-free, multiple policy, and Drive Safe & Save.
- Progressive may offer discounts for good student, online quote discount, continuous coverage, online signing, and multi-policy.
- Travelers has savings for save driver, driver training, IntelliDrive, payment discounts, new car, and good student.
- American Family offers discounts for good student, air bags, good driver, mySafetyValet, Steer into Savings, and early bird.
- Liberty Mutual offers discounts including hybrid vehicle, good student, newly married, new move discount, and new vehicle discount.
Check with each insurance company to give you their best rates. A few discounts might not be offered on policies in your state. To see a list of providers that provide some of the discounts listed above in New Mexico, click here to view.
How to Lower Your Insurance Premiums
Lots of things are considered when you get a price on insurance. Some are obvious like a motor vehicle report, although others are not as apparent such as whether you are married and annual miles driven.
Rates go up with performance – The make and model of the vehicle you are insuring makes a huge difference in your car insurance bill. Small economy passenger cars usually are quite affordable to insure, but the cost you end up paying is determined by many additional factors.
Combine policies and save money – Most larger companies allow discounts for people who have multiple policies with them in the form of a multi-policy discount. The discount can add up to 10 percent or more. Even if you already get this discount, you may still want to get quotes from other companies to ensure the best deal.
Low credit score equals high costs – A driver’s credit history will be a significant factor in determining what you pay. If your credit is low, you could save money insuring your Volkswagen Rabbit by repairing your credit. Consumers who have very good credit scores tend to file fewer claims as compared to drivers with lower ratings.
Long commutes cost more – The higher the miles on your Volkswagen in a year the more you’ll pay to insure your vehicle. A lot of insurance companies calculate rates partially by how you use the vehicle. Autos not used for work or commuting cost less to insure than cars that get driven a lot. It’s a good idea to make sure your auto insurance policy is rated on the correct usage for each vehicle. An improperly rated Rabbit is throwing money out the window.
High coverage deductibles equal low rates – Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your vehicle. Examples of covered claims could be colliding with a building, hitting a deer, and damage caused by flying debris. Comp and collision deductibles are how much you are willing to pay in the event of a claim. The more of the claim the insured is willing to pay, the less money you will pay for auto insurance.
Buy as much liability protection as you can afford – Liability insurance will protect you if ever you are ruled to be at fault for damages caused by your negligence. Liability insurance provides legal defense coverage to defend your case. Liability insurance is quite affordable when compared with rates for comp and collision, so do not skimp.
It’s not one size fits all
When quoting and choosing proper insurance coverage for your vehicles, there really isn’t a “best” method to buy coverage. Each situation is unique.
For example, these questions could help you determine whether or not you may require specific advice.
- Am I covered if I wreck a rental car?
- When would I need rental car insurance?
- How high should my medical payments coverage be?
- Can I make deliveries for my home business?
- What if an uninsured driver hits me?
- Can I drive in Mexico and have coverage?
- Do they offer discounts for home and auto coverage?
- What is UM/UIM insurance?
- Does liability extend to a camper or trailer?
- Do I need an umbrella policy?
If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.
Comparing quotes from local Albuquerque auto insurance agents
A small number of people prefer to get professional advice from a licensed agent and we recommend doing that An additional benefit of getting online price quotes is the fact that drivers can get cheap auto insurance rates and still have an agent to talk to. And buying from local agents is important especially in Albuquerque.
Once you complete this quick form, the quote information is submitted to agents in your area who will return price quotes for your business. You never need to even leave your home due to the fact that quote results will go to you. Get lower rates and an insurance agent to talk to. If you have a need to get a price quote from a specific auto insurance provider, just jump over to their website and fill out their quote form.
How to choose the best car insurance agent in Albuquerque
If you would like to find a local Albuquerque insurance agent, it helps to know the two different agency structures and how they can service your needs differently. Auto insurance agents in Albuquerque are classified as either independent or exclusive.
Independent Auto Insurance Agents
Agents of this type are not employed by any specific company and that enables them to quote your coverage with multiple insurance companies and find you the best rates. If they find a lower price, your policy is moved internally and you can keep the same agent. If you are comparing rate quotes, it’s a good idea to get several quotes from independent agents to get the most accurate price comparison.
Featured below is a short list of independent agencies in Albuquerque that may be able to give you price quote information.
J. B. Martin Insurance Agency
8500 Menaul Blvd NE #345 – Albuquerque, NM 87112 – (505) 888-8846 – View Map
Exclusive Insurance Agents
Agents in the exclusive channel can only provide one company’s prices and examples are State Farm, AAA, and Liberty Mutual. They generally cannot provide rate quotes from other companies so if the price isn’t competitive there isn’t much they can do. Exclusive insurance agents are usually well trained on their company’s products and that can be a competitive advantage.
Shown below are exclusive agencies in Albuquerque willing to provide comparison quotes.
Choosing an car insurance agent requires more thought than just the premium amount. Any good agent in Albuquerque should know the answers to these questions.
- Is the agent and/or agency licensed to do business in New Mexico?
- Are they full-time agents?
- Does the company use OEM repair parts?
- Can glass repairs be made at your home?
- Do they have a Better Business Bureau rating in Albuquerque?
After getting positive responses to all your questions and locked in a price quote, you have narrowed it down to an auto insurance agent that is reliable enough to properly insure your vehicles. Just remember you can cancel coverage whenever you want so never assume that you are obligated to any particular company for the full policy term.
You can find cheaper coverage
As you go through the steps to switch your coverage, don’t be tempted to skimp on coverage in order to save money. There have been many situations where an accident victim reduced liability limits or collision coverage only to discover later they didn’t purchase enough coverage. Your goal should be to purchase plenty of coverage at the best cost while not skimping on critical coverages.
Insureds who switch companies do it for many reasons like poor customer service, unfair underwriting practices, policy non-renewal or not issuing a premium refund. Whatever your reason, finding a new auto insurance company is not as difficult as it may seem.
In this article, we covered a lot of information how to shop for Volkswagen Rabbit insurance online. It’s most important to understand that the more rate quotes you have, the better your comparison will be. Drivers may even discover the lowest rates are with a smaller regional carrier.
For more information, feel free to browse the resources below:
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Who Has the Cheapest Auto Insurance for a Learners Permit in Albuquerque? (FAQ)
- Who Has the Cheapest Car Insurance for State Employees in Albuquerque? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- What is Gap Insurance? (Insurance Information Institute)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Vehicle Safety Ratings (iihs.org)