Trying to find low-cost auto insurance is difficult, and figuring out which companies have the cheapest insurance rates for good students involves even more rate comparisons. Each insurer uses different criteria for setting rates, so first let’s look at the rankings for the insurance companies with the overall cheapest rates in Albuquerque, NM.
It’s important that readers know that Albuquerque insurance rates are impacted by many factors which can substantially change the price you pay for coverage. Improving your credit score, buying higher coverage limits, or getting a few speeding tickets can trigger changes in premium that may make certain companies higher-priced than the competition.
Cheapest Insurance Rates for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $657 |
| 2 | Allied | $958 |
| 3 | Safeco | $984 |
| 4 | Farm Bureau Mutual | $1,178 |
| 5 | Farmers | $1,263 |
| 6 | The Hartford | $1,312 |
| 7 | Central Mutual | $1,314 |
| 8 | State Farm | $1,349 |
| 9 | Progressive | $1,505 |
| 10 | Travelers | $1,569 |
| 11 | MetLife | $1,578 |
| 12 | GEICO | $1,592 |
| 13 | California Casualty | $1,639 |
| 14 | Encompass | $1,694 |
| 15 | Allstate | $2,408 |
| 16 | Liberty Mutual | $2,479 |
| 17 | Sentry | $3,208 |
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USAA quotes some of the cheapest car insurance rates in Albuquerque at around $657 annually. This is $911 less than the average policy premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers also qualify as some of the best Albuquerque, NM insurance companies.
As shown above, if you are a policyholder with Farm Bureau Mutual and switched to USAA, you may see an annual savings of upwards of $521. Policyholders with Farmers may save as much as $606 a year, and The Hartford insureds might reduce prices by as much as $655 a year.
To see if your current coverage is too expensive, click here to get quotes or quote prices from the following companies.
Be aware that those rates are averages for all drivers and vehicles in New Mexico and do not take into consideration a specific zip code for good students. So the insurer that can offer you the lowest price may not even be in the top 17 companies in the list above. That point stresses why you need to quote rates from as many companies as possible using your own individual information.
One of the many factors that help determine the cost of insurance is where you live. Regions with more people or even just more weather-related claims tend to have more expensive car insurance rates, whereas areas with less crime or weather claims get the luxury of paying less.
The illustration below rates the highest-priced places in New Mexico for good students to purchase auto insurance in. Albuquerque is ranked #1 with the yearly price of $1,375 for the average policy, which is about $115 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Albuquerque | $1,375 |
| 2 | Santa Fe | $1,356 |
| 3 | South Valley | $1,336 |
| 4 | Artesia | $1,317 |
| 5 | Los Alamos | $1,308 |
| 6 | Los Lunas | $1,289 |
| 7 | North Valley | $1,277 |
| 8 | Espanola | $1,273 |
| 9 | Hobbs | $1,246 |
| 10 | Rio Rancho | $1,244 |
| 11 | Roswell | $1,210 |
| 12 | Lovington | $1,207 |
| 13 | Gallup | $1,188 |
| 14 | Portales | $1,186 |
| 15 | Clovis | $1,180 |
| 16 | Farmington | $1,172 |
| 17 | Carlsbad | $1,165 |
| 18 | Las Vegas | $1,160 |
| 19 | Deming | $1,143 |
| 20 | Las Cruces | $1,131 |
| 21 | Sunland Park | $1,087 |
| 22 | Chaparral | $1,070 |
| 23 | Anthony | $1,065 |
| 24 | Silver City | $1,063 |
| 25 | Alamogordo | $1,031 |
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Information shown are comparative as vehicle location can alter rates substantially.
The example below illustrates how choosing a deductible can increase or decrease insurance costs when getting quotes for cheap insurance for good students. The premiums are based on a married female driver, full physical damage coverage, and no discounts are factored in.
As shown above, a 50-year-old driver could save $306 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $462 by selecting a $1,000 deductible. Young drivers, such as the 20-year-old example, can cut up to $762 or more just by choosing higher deductibles.
When insureds make the decision to increase the deductibles on their policy, it will be necessary to have emergency funds available to enable you to pay the extra out-of-pocket expense associated with higher deductibles.
Selecting a good quality company can be a challenge considering how many companies there are in New Mexico. The rank data in the lists below may help you select which auto insurers you want to consider when shopping insurance around for good students. These rankings include insurance companies that insure vehicles in the majority of U.S. states, so companies without a large exposure will not be included in this list.
Top 10 Major Auto Insurance Providers in Albuquerque Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Titan Insurance – A+
- Progressive – A+
Top 10 Major Auto Insurance Providers in Albuquerque Ranked by Customer Service
- GEICO
- State Farm
- The Hartford
- The General
- Progressive
- Allstate
- AAA Insurance
- American Family
- Nationwide
- Liberty Mutual
If you like to have some professional guidance when comparing insurance rates for good students, the insurance agencies listed below can most likely help you decide which auto insurance policy fits you best. To locate an Albuquerque insurance agent nearest to you, click the button below the list.
Lanell Anderson – State Farm Insurance Agent
5600 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 881-0550
Cindy Maxwell – State Farm Insurance Agent
8244 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 883-9000
Rosendo Aragon – State Farm Insurance Agent
1808 Lomas Blvd NW b – Albuquerque, NM 87104 – (505) 247-2921
Sam Sample – State Farm Insurance Agent
3700 Osuna Rd NE #514 – Albuquerque, NM 87109 – (505) 341-1000
More insurance agents in Albuquerque, NM
How to find cheaper insurance for good students
It is possible to find better rates, and here are some of the recommended penny-pinching ideas that can help Albuquerque drivers quote low-cost auto insurance.
- Buy a safer vehicle
- Do not get traffic citations
- At-fault accidents can raise rates significantly
- Frequent claims may make car insurance unaffordable
- Bundle home and auto and save
- On older vehicles, drop full coverage
- Shop around once a year for cheaper rates
That last piece of advice is particularly valuable, as was discussed in this article. Insurance rates fluctuate constantly, so drivers shouldn’t hesitate to buy from a new company if a lower-cost policy is available.
Many drivers tend to have loyalty to a certain company, but it’s not a great idea if that loyalty results in overpaying thousands of dollars over several years. In just a few minutes you could compare prices to find cheaper insurance for good students in Albuquerque.