How to find cheaper Albuquerque car insurance rates
New Mexico drivers who compare rates at least once a year are most likely to pay the least for auto insurance. Here are four steps to finding cheaper rates in Albuquerque.
- It will benefit you to learn about how companies price auto insurance and the changes you can make to lower rates. Many things that increase rates like traffic citations and a bad credit rating can be improved by paying attention to minor details. This article provides additional ideas to find cheap rates and get additional discounts that may be available.
- Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from one company like Progressive and State Farm, while independent agencies can provide rate quotes for a wide range of insurance providers.
- Compare the new rates to your current policy and determine if there is any savings. If you can save money and decide to switch, verify that coverage does not lapse between policies.
- Provide written notification to your current company of your decision to cancel your existing policy and submit payment and a completed application for your new policy. As soon as you have the new policy, place your new certificate verifying coverage in your glove compartment.
The most important part of this process is that you’ll want to make sure you compare the same level of coverage on each quote and and to compare as many car insurance companies as possible. This helps ensure an accurate price comparison and a complete rate analysis.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
| Travelers | 80 | 87 | 87 | 83% | A++ | 85.2 |
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Tickets and at-fault accidents raise rates
The information below demonstrates how traffic citations and accidents increase auto insurance costs for each age group. The rate quotes are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
Whether or not you have cheap auto insurance coverage depends on many different factors, but the average policy rate in Albuquerque is right around $1,200 every 12 months. The cost of Albuquerque car insurance depends on many variables, and one of the largest considerations is the car, truck, or SUV you are insuring. The rate data below shows estimated prices for some of the most popular vehicles in Albuquerque.
| Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
|---|---|---|---|
| Chevrolet Colorado LT Extended Cab 4WD | $730 | $365 | $61 |
| Chevrolet Equinox LTZ 2WD | $936 | $468 | $78 |
| Chevrolet Impala LS | $846 | $423 | $71 |
| Chevrolet Malibu Hybrid | $866 | $433 | $72 |
| Chevrolet Silverado LT Regular Cab | $920 | $460 | $77 |
| Dodge Ram Crew Cab ST 4WD | $940 | $470 | $78 |
| Ford Escape XLT 4WD | $750 | $375 | $63 |
| Ford F-150 FX4 4WD | $886 | $443 | $74 |
| Ford Focus SES 4-Dr Sedan | $896 | $448 | $75 |
| Honda Accord LX-P 4-Dr Sedan | $730 | $365 | $61 |
| Honda CR-V EX-L 4WD | $750 | $375 | $63 |
| Honda Civic SI 2-Dr Coupe | $1,144 | $572 | $95 |
| Hyundai Elantra Blue 4-Dr Sedan | $896 | $448 | $75 |
| Hyundai Sonata GLS 4-Dr Sedan | $920 | $460 | $77 |
| Mazda 3 S Sport 4-Dr Sedan | $936 | $468 | $78 |
| Nissan Altima Hybrid 4-Dr Sedan | $936 | $468 | $78 |
| Toyota Camry SE | $916 | $458 | $76 |
| Toyota Corolla XRS | $936 | $468 | $78 |
| Toyota Tacoma Double Cab 4WD | $886 | $443 | $74 |
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Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Prices do not factor in the specific area where the vehicle is garaged which can influence insurance rates greatly.
| Top 15 cheapest vehicles to insure in Albuquerque, NM |
|---|
| Honda Fit |
| Hyundai Accent |
| Mini Cooper |
| Honda Accord |
| Kia Rondo |
| Mazda MX-5 Miata |
| Ford Escape |
| Chrysler PT Cruiser |
| Hyundai Elantra |
| Honda CR-V |
| Chevrolet Colorado |
| Mazda 5 |
| Ford F-150 |
| Nissan Xterra |
| Jeep Wrangler |
| Top 15 most expensive vehicles to insure in Albuquerque, NM |
|---|
| Mercedes-Benz S65 AMG |
| Mercedes-Benz CL65 AMG |
| Audi R8 |
| Mercedes-Benz CL600 |
| Mercedes-Benz CL63 AMG |
| Mercedes-Benz S600 |
| BMW 760L |
| BMW M6 |
| Mercedes-Benz S63 AMG |
| Porsche 911 |
| Mercedes-Benz CL550 |
| Porsche Panamera |
| TESLA Roadster |
| Chevrolet Corvette |
| Porsche Cayenne |
| Top 15 safest vehicles to insure in Albuquerque, NM |
|---|
| Volvo XC60 |
| Jeep Wrangler |
| Ford Fusion |
| Ford Expedition EL |
| Toyota FJ Cruiser |
| Audi Q7 |
| Chrysler Town and Country |
| GMC Sierra |
| Chevrolet Silverado 2500HD |
| Ford F-150 |
| Chevrolet Equinox |
| Chevrolet Tahoe |
| Buick Enclave |
| Chevrolet Suburban |
| GMC Yukon |
Why you need to buy auto insurance
First, almost all states have mandatory liability insurance requirements which means you are required to buy specific limits of liability in order to drive the car 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 have a loan on your vehicle, most lenders will make it mandatory that you have full coverage to ensure loan repayment if the vehicle is totaled. If the policy lapses, the bank may insure your vehicle for a lot more money and force you to pay for the expensive policy.
Third, car insurance protects not only your vehicle but also your assets. It will also cover most medical and hospital costs for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance also covers legal expenses if you are sued as the result of your driving. If your vehicle gets damaged, collision and comprehensive coverages will cover the repair costs.
The benefits of insuring your vehicle are without a doubt worth the cost, particularly if you ever have a claim. But the average driver in New Mexico is overpaying over $855 a year so it’s recommended you shop around at every renewal to save money.