You have surely seen all the commercials from auto insurance companies like Nationwide and The General promising big savings, so drivers should just choose one randomly, right?
Unfortunately, it’s not that simple as there are a ton of unknown elements like how much you actually drive in a year, whether or not your vehicle has good safety ratings, and the level of liability coverage you want, that help determine the price you have to pay. This article should teach you a little about the best ways to save money and hopefully give you enough understanding to have a jump start in finding the best auto insurance in Albuquerque.
Establishing which company quotes the cheapest insurance rates for 17 year olds will involve more work in order to find the best policy.
Every insurance provider has their own unique process to set premium rates, so we will examine the insurance companies with the overall best prices in Albuquerque. It’s important that readers know that Albuquerque insurance rates are determined by lots of factors that control the cost of coverage. Improving your credit rating, adding a teenager to your policy, or having a fender bender can trigger price changes that may make certain companies affordable when they were higher priced.
Find the Best Cheap Insurance for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $683 |
| 2 | Allied | $958 |
| 3 | Safeco | $984 |
| 4 | Farm Bureau Mutual | $1,202 |
| 5 | Farmers | $1,302 |
| 6 | State Farm | $1,310 |
| 7 | The Hartford | $1,366 |
| 8 | Central Mutual | $1,368 |
| 9 | Progressive | $1,505 |
| 10 | Travelers | $1,522 |
| 11 | GEICO | $1,576 |
| 12 | California Casualty | $1,591 |
| 13 | MetLife | $1,642 |
| 14 | Encompass | $1,643 |
| 15 | Allstate | $2,385 |
| 16 | Liberty Mutual | $2,479 |
| 17 | Sentry | $3,082 |
| Get a Custom Quote Go | ||
USAA has some of the lowest car insurance rates in Albuquerque at around $683 each year. Allied, Safeco, Farm Bureau Mutual, and Farmers also are some of the lowest-priced Albuquerque, NM insurance companies.
As depicted above, if you have coverage with Allied and switched to USAA, you could earn a yearly savings of upwards of $275. New Mexico drivers with Safeco might save as much as $301 a year, and Farm Bureau Mutual insureds might reduce prices by as much as $519 a year.
Understand that those estimates are averaged across all insureds and vehicles and and are not calculated with an exact vehicle garaging location for 17 year olds. So the car insurance company that can offer you the best rate may not even be in the list above. That underscores the importance of why you need to get rate quotes from many companies using your own specific driver and vehicle information.
For teen drivers, one of the more important considerations that aid in calculating auto insurance rates is where you choose to live. Regions with larger populations or more claims tend to have higher rates, whereas areas with lower crime rates and fewer weather claims receive better rates.
The following table lists the most expensive cities in New Mexico for 17 year olds to buy car insurance in. Albuquerque ranks #1 with an annual rate of $1,431 for the average insured, which is approximately $119 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Albuquerque | $1,431 |
| 2 | South Valley | $1,336 |
| 3 | Los Lunas | $1,302 |
| 4 | Santa Fe | $1,302 |
| 5 | Artesia | $1,291 |
| 6 | North Valley | $1,277 |
| 7 | Los Alamos | $1,269 |
| 8 | Hobbs | $1,258 |
| 9 | Rio Rancho | $1,244 |
| 10 | Espanola | $1,236 |
| 11 | Gallup | $1,224 |
| 12 | Roswell | $1,210 |
| 13 | Lovington | $1,207 |
| 14 | Portales | $1,186 |
| 15 | Farmington | $1,183 |
| 16 | Carlsbad | $1,177 |
| 17 | Clovis | $1,169 |
| 18 | Las Vegas | $1,149 |
| 19 | Deming | $1,143 |
| 20 | Las Cruces | $1,131 |
| Start a Quote Go | ||
Premium amounts are comparative as zip code location can increase or decrease insurance rates noticeably.
The example below demonstrates how deductible levels can influence insurance rates when trying to find cheap insurance for 17 year olds. The premium estimates are based on a married male driver, full physical damage coverage, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could reduce rates by $248 a year by changing from a $100 deductible to a $500 deductible, or save $376 by changing to a $1,000 deductible. Youthful drivers, like the 20-year-old, could potentially save as much as $748 or even more by using higher deductibles when buying full coverage. When choosing a higher deductible, it is necessary to have enough spare savings to be able to cover the extra out-of-pocket expense that is associated with using high deductibles.
Selecting a good quality insurance provider can be a challenge considering how many companies there are to choose from in New Mexico. The company rank data in the lists below may help you analyze which providers to look at when comparing auto insurance rates for 17 year olds. The rankings below only include the largest companies in America, so smaller companies that only insure vehicles in New Mexico are not included in the list.
Top 10 Large Car Insurance Companies Overall in Albuquerque
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Titan Insurance
- Progressive
- Allstate
Shop around and save
Albuquerque insurance rates are impacted by many things which can significantly increase or decrease the price you have to pay for coverage. Simply getting older, buying another vehicle, or having a fender bender may generate price changes that may make certain companies cheaper than others.
In addition, auto insurance companies modify rates at least once a year in order to remain profitable. A period of higher than normal claims may cause rate hikes, while a better claims history may result in cheaper Albuquerque car insurance rates.
The graph below shows rates for the cheapest car insurance in Albuquerque, NM for a 45-year-old female driver with no accidents, a clean driving record, and a good credit history. When quoting prices based on her current situation, USAA offers the most affordable car insurance rates in Albuquerque at $893 each year. This is $675 less than the average policy premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers round out the rest of the cheapest Albuquerque, NM auto insurance companies.
Now we will pretend the driver in the first chart an accident surcharge, a lower credit rating, and a speeding ticket. Since every insurance provider has their own process for determining rates in each state, getting updated rate quotes may now show a different ranking of the cheapest companies as shown below.
Allied now has the cheapest price in Albuquerque, NM with The Hartford, USAA, Safeco, and Central Mutual now being in the top five. This example proves why it is important to compare many different companies to find affordable car insurance rates for 17 year olds. Rates can be determined by many factors and change dramatically, so the cheapest company three years ago may now be quite expensive.
If you prefer to have a little guidance when trying to find lower insurance rates for 17 year olds, the agencies below are willing to answer your questions and help you decide which auto insurance policy would work best for you.
To locate an Albuquerque car insurance agency closest to you, click the link at the bottom.
- Beth Wells – State Farm Insurance Agent
7400 Montgomery Blvd NE #5 – Albuquerque, NM 87109 – (505) 883-3742 - Cindy Maxwell – State Farm Insurance Agent
8244 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 883-9000 - Paul Maestas – State Farm Insurance Agent
111 Coors Blvd NW, Ste C7 – Albuquerque, NM 87121 – (505) 831-3725
View more Albuquerque, NM insurance agencies
How to find cheaper car insurance for 17 year olds
The list below details some money-saving suggestions that can help you get cheaper car insurance.
- Remove physical damage coverage on older vehicles
- At-fault accidents will increase rates
- Buy vehicles with good safety ratings
- Increase your deductibles
- Be a cautious driver
- Improve your credit
- Compare quotes from other companies often
The last idea is extraordinarily vital, as we hit on in the prior article. Auto insurance prices fluctuate constantly, so drivers shouldn’t be reluctant to switch carriers if you find a cheaper price. Loyalty to a specific company is fine, but is isn’t recommended if it’s costing you thousands of dollars over several years. Take a couple minutes and compare rates to find cheaper car insurance for 17 year olds in Albuquerque.