The words “bargain” and “insurance” really should not be used together, especially when trying to find the lowest insurance rates for teachers. Because it’s not cheap, let’s take a look at some situations that have a considerable impact on car insurance prices, and come up with some ideas to slash the price of the next policy you buy.
Locating cheap car insurance is not most people’s favorite thing to do, and deciding which companies quote the most affordable auto insurance rates for teachers will take more quotes for comparison. Every auto insurer has a different formula to set policy rates, so first let’s look at the rankings for the lowest cost auto insurance companies in New Mexico.
Find the Cheapest Auto Insurance for Educators
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $677 |
| 2 | Allied | $930 |
| 3 | Safeco | $1,004 |
| 4 | Farm Bureau Mutual | $1,214 |
| 5 | State Farm | $1,297 |
| 6 | Central Mutual | $1,314 |
| 7 | Farmers | $1,315 |
| 8 | The Hartford | $1,366 |
| 9 | Progressive | $1,505 |
| 10 | Travelers | $1,522 |
| 11 | MetLife | $1,578 |
| 12 | California Casualty | $1,591 |
| 13 | GEICO | $1,640 |
| 14 | Encompass | $1,711 |
| 15 | Allstate | $2,337 |
| 16 | Liberty Mutual | $2,529 |
| 17 | Sentry | $3,082 |
| Get a Custom Quote Go | ||
USAA offers some of the cheapest car insurance rates in Albuquerque at around $677 per year. Allied, Safeco, Farm Bureau Mutual, and State Farm would also be considered some of the more affordable Albuquerque, NM car insurance companies.
As depicted above, if you currently have a policy with Safeco and switched to USAA, you may see a yearly price reduction of about $327. Policyholders with Farm Bureau Mutual may save as much as $537 a year, and State Farm insureds might lower prices by $620 a year.
These policy prices are averaged across all types of drivers and the different vehicles they drive and and are not figured with a specific vehicle garaging location for teachers. So the company that has the cheapest price for you may not even be in the top 17 companies in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
The make and model of vehicle that needs insurance is a large consideration that determines whether or not you find low-priced auto insurance for teachers. Vehicles with lots of speed or power, a lack of modern safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than safer, lower-performance models.
The list below outlines auto insurance prices for a number of the most affordable automobiles to insure in New Mexico.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $1,404 |
| Ford Escape XLT 2WD | $1,537 |
| Chevrolet Silverado LS Regular Cab 4WD | $1,540 |
| Dodge Grand Caravan SE | $1,572 |
| Honda CR-V EX-L 4WD | $1,577 |
| Ford Edge SEL 2WD | $1,628 |
| Jeep Grand Cherokee Laredo 2WD | $1,660 |
| Toyota RAV4 Limited 4WD | $1,669 |
| Toyota Prius | $1,708 |
| Ford Explorer XLT 4WD | $1,719 |
| Toyota Camry SE | $1,751 |
| Chevrolet Impala LTZ | $1,758 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,780 |
| GMC Sierra SLT Crew Cab 2WD | $1,790 |
| Toyota Corolla XRS | $1,780 |
| Nissan Rogue SL 2WD | $1,785 |
| Chevrolet Silverado 2500HD LTZ Crew Cab 4WD | $1,780 |
| Chevrolet Malibu LS | $1,817 |
| Toyota Tacoma Double Cab 4WD | $1,826 |
| Dodge Ram Quad Cab ST 2WD | $1,844 |
| Ford F-150 FX4 4WD | $1,855 |
| Hyundai Sonata SE 4-Dr Sedan | $1,871 |
| Ford Focus SEL 4-Dr Sedan | $1,913 |
| Start Your Quote Go | |
Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Premium costs do not factor in the specific area where the vehicle is garaged which can affect insurance rates noticeably.
Based upon the table data, we can assume that vehicles like the Hyundai Elantra, Ford Escape, and Chevrolet Silverado are most likely to be a few of the most budget-friendly vehicles to insure for teachers and educators.
For teachers and educators, one of the more important factors that are looked at to determine the cost of insurance is where you live. More populated areas tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The information below ranks the most expensive areas in New Mexico for teachers to buy car insurance in. Albuquerque shows up at #1 with an annual rate of $1,389 for coverage, which is about $116 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Albuquerque | $1,389 |
| 2 | South Valley | $1,349 |
| 3 | Santa Fe | $1,316 |
| 4 | Los Alamos | $1,295 |
| 5 | Artesia | $1,291 |
| 6 | North Valley | $1,290 |
| 7 | Hobbs | $1,284 |
| 8 | Los Lunas | $1,250 |
| 9 | Rio Rancho | $1,244 |
| 10 | Espanola | $1,236 |
| 11 | Roswell | $1,222 |
| 12 | Gallup | $1,212 |
| 13 | Lovington | $1,207 |
| 14 | Carlsbad | $1,177 |
| 15 | Portales | $1,175 |
| 16 | Farmington | $1,172 |
| 17 | Clovis | $1,169 |
| 18 | Las Vegas | $1,149 |
| 19 | Deming | $1,121 |
| 20 | Las Cruces | $1,098 |
| Find the Best Rates Go | ||
Table data uses comparative as specific Albuquerque garaging address can affect rates noticeably.
Get discounts on Albuquerque insurance
Insurance providers that offer quotes for teachers may additionally offer rate discounts that can reduce rates by 30% or more if you can meet the requirements. Larger auto insurance companies and a selection of discounts are outlined below.
- GEICO offers discounts for military active duty, multi-policy, membership and employees, emergency military deployment, and anti-theft.
- SAFECO has discounts for bundle discounts, anti-theft, accident prevention training, teen safe driver, and multi-car.
- State Farm offers discounts including accident-free, Drive Safe & Save, multiple policy, good driver, good student, and Steer Clear safe driver discount.
- MetLife policyholders can earn discounts including good student, good driver, defensive driver, accident-free, and claim-free.
- 21st Century discounts include early bird, homeowners, air bags, anti-lock brakes, defensive driver, driver training, and student driver.
- Progressive includes discounts for online signing, multi-policy, good student, online quote discount, multi-vehicle, and continuous coverage.
The illustration below compares insurance rates with and without discounts applied to the policy rates. The prices are based on a female driver, no tickets, no at-fault accidents, New Mexico state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with homeowner, safe-driver, marriage, anti-theft, multiple vehicle, and multiple policy discounts applied. When drivers take advantage of discounts, theaverage amount saved on auto insurance for teachers is 28% or $482.
Albuquerque auto insurance companies ranked
Selecting the highest-rated car insurance provider is hard considering how many choices you have in New Mexico. The information shown below could help you choose which insurers to look at when comparing auto insurance rates for teachers. These ratings are only made up of large, nationwide insurance companies, so companies with more of a regional focus are not included in these rankings.
Top 10 Major Auto Insurance Companies in Albuquerque Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- Progressive
- GEICO
- Liberty Mutual
- Allstate
- Titan Insurance
- The Hartford
- The General
Why you are probably overpaying for car insurance
Albuquerque, NM auto insurance rates are impacted by many factors which can substantially change the price you pay. Simply improving your credit, increasing liability limits, or having an at-fault accident may prompt premium changes that may make certain companies affordable when they were higher priced. Additionally, companies file new New Mexico car insurance rates every year in order to protect their financial rating. Higher than normal claims can cause increased policy costs, while profitable underwriting may produce lower-priced Albuquerque car insurance rates.
To illustrate this example, the graph below shows rates for the cheapest car insurance in Albuquerque, NM for a 35-year-old female driver with a clean driving record, no accidents, and solid credit. When quoting prices based on her personal risk profile, USAA might offer the best car insurance rates in Albuquerque at $885 annually. This is $683 less than the average policy premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and State Farm are the rest of the best Albuquerque, NM auto insurance companies.
Now let’s give the driver in the first example a couple of claims, a lower credit rating, and a couple of points charged on her driving record. Since every insurance provider has their own guidelines for setting prices, getting updated rate quotes may now result in a different set of affordable companies as shown below.
USAA now has the cheapest price in Albuquerque, NM with Allied, Central Mutual, The Hartford, and Safeco now rounding out the top five. This example demonstrates why consumers need to take the time to perform a complete rate comparison when trying to find affordable insurance quotes for teachers. Car insurance prices are calculated by many risk factors and can change substantially, so the best price a year ago may now be costing you a lot of money.