It would sure be easy if we could just tell you the single best car insurance company that has the most affordable insurance in New Mexico. It’s not quite that easy, unfortunately, as there are a lot of unknown elements such as the safety ratings of your vehicle, what coverage limits you want, and if you have a tendency to get pulled over, that all have an effect on the price of a policy. If you keep reading, we will teach you about the types of things that cause high car insurance rates and also should give you a good beginning to your search for cheaper coverage.
The vehicle model on the policy is one of the primary factors when shopping for the lowest-priced auto insurance for hybrid vehicles. Vehicles with reasonable performance levels, modern passenger safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than higher performance models. The next list presents insurance rates for a number of the cheapest automobiles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,464 |
| Ford Edge Limited 2WD | $1,659 |
| Chevrolet Malibu LT | $1,724 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,751 |
| Hyundai Elantra GLS Touring Station Wagon | $1,754 |
| Honda Accord LX 4-Dr Sedan | $1,763 |
| Ford Escape XLS 4WD | $1,754 |
| Toyota Camry SE | $1,781 |
| Ford Explorer XLT AWD | $1,838 |
| GMC Sierra 3500HD SLE Crew Cab 2WD | $1,846 |
| Ford Focus SES 2-Dr Coupe | $1,906 |
| Volkswagen Jetta 2.0T Station Wagon | $1,914 |
| Chevrolet Impala LT | $1,939 |
| Toyota RAV4 Limited 4WD | $1,948 |
| Jeep Grand Cherokee Laredo 2WD | $1,939 |
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Prices do not factor in garaging location in Albuquerque, NM which can influence price quotes considerably.
Based upon these rates, we can assume that cars like the Honda CR-V, Ford Edge, Chevrolet Malibu, and Jeep Wrangler will be the less-costly vehicles to insure for hybrids.
For hybrids, one of the big factors that are used to help calculate the cost of insurance is where your residence is in Albuquerque. Areas with high crime rates or more dense population tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims have the luxury of lower rates.
The illustration below lists the most costly cities in New Mexico for hybrid vehicles to buy an auto insurance policy in. Albuquerque comes in at #1 having an annual price of $1,389 for the average insurance policy, which is around $116 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Albuquerque | $1,389 |
| 2 | South Valley | $1,349 |
| 3 | North Valley | $1,316 |
| 4 | Santa Fe | $1,302 |
| 5 | Hobbs | $1,284 |
| 6 | Artesia | $1,278 |
| 7 | Los Alamos | $1,269 |
| 8 | Espanola | $1,260 |
| 9 | Rio Rancho | $1,256 |
| 10 | Los Lunas | $1,250 |
| 11 | Gallup | $1,224 |
| 12 | Roswell | $1,222 |
| 13 | Lovington | $1,207 |
| 14 | Carlsbad | $1,165 |
| 15 | Deming | $1,155 |
| 16 | Portales | $1,151 |
| 17 | Las Vegas | $1,149 |
| 18 | Clovis | $1,145 |
| 19 | Farmington | $1,137 |
| 20 | Chaparral | $1,114 |
| 21 | Las Cruces | $1,098 |
| 22 | Sunland Park | $1,087 |
| 23 | Anthony | $1,076 |
| 24 | Silver City | $1,053 |
| 25 | Alamogordo | $1,041 |
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Information shown are approximated as the garaging address in Albuquerque can affect rates considerably.
Establishing which companies have the cheapest auto insurance rates for hybrid vehicles will require a bit more effort than just picking a company at random. Every insurance provider uses different criteria for determining rates, so let’s look at the rankings for the auto insurance companies with the most affordable rates in Albuquerque, NM.
Keep in mind that New Mexico auto insurance rates are calculated based on many things which can significantly increase or decrease the cost of coverage. Simply turning a year older, buying higher coverage limits, or getting a driving violation can produce rate changes that can now make some companies more affordable than competitors.
Best Auto Insurance Prices for Hybrids
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $663 |
| 2 | Allied | $920 |
| 3 | Safeco | $1,014 |
| 4 | Farm Bureau Mutual | $1,166 |
| 5 | Farmers | $1,302 |
| 6 | Central Mutual | $1,314 |
| 7 | The Hartford | $1,326 |
| 8 | State Farm | $1,336 |
| 9 | Progressive | $1,550 |
| 10 | Travelers | $1,569 |
| 11 | MetLife | $1,578 |
| 12 | GEICO | $1,592 |
| 13 | California Casualty | $1,639 |
| 14 | Encompass | $1,660 |
| 15 | Allstate | $2,408 |
| 16 | Liberty Mutual | $2,479 |
| 17 | Sentry | $3,208 |
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USAA quotes some of the most affordable car insurance rates in Albuquerque at around $663 a year. Allied, Safeco, Farm Bureau Mutual, and Farmers also are some of the more affordable Albuquerque, NM auto insurance companies.
As depicted above, if you buy coverage from Farm Bureau Mutual and switched to Allied, you might realize an annual premium reduction of in the vicinity of $246. Drivers with Farmers might save as much as $382 a year, and Central Mutual customers might reduce rates by $394 a year.
To compare your rates to other New Mexico insurance companies, click here to get a free quote or click several companies below for low rates.
Remember that these estimates are averaged for all drivers and vehicles and do not factor in a vehicle location for hybrid vehicles. So the insurer that has the cheapest price for you may not even be in the top 17 companies in the list above. That emphasizes why you need to get auto insurance quotes using your own driver and vehicle profiles.
Types of discounts on Albuquerque auto insurance
Insurers that sell policies for hybrid vehicles may additionally offer price discounts that could potentially reduce rates by 25% or more if you meet specific eligibility requirements. Popular auto insurance companies and their offered discounts are detailed below.
- GEICO policyholders can earn discounts including five-year accident-free, military active duty, emergency military deployment, defensive driver, and air bags.
- SAFECO offers premium reductions for homeowner, anti-theft, teen safety rewards, safe driver, and drive less.
- State Farm may have discounts that include good driver, anti-theft, driver’s education, good student, and passive restraint.
- MetLife has savings for multi-policy, good student, defensive driver, accident-free, and claim-free.
- 21st Century has discounts for automatic seat belts, teen driver, defensive driver, anti-lock brakes, homeowners, driver training, and good student.
- Progressive offers discounts including continuous coverage, multi-policy, multi-vehicle, homeowner, online quote discount, and good student.
The information below shows the comparison of auto insurance costs with and without some available policy discounts. Data assumes a male driver, no claims or violations, New Mexico state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with claim-free, vehicle safety, marriage, accident-free, safe-driver, and homeowner discounts applied. When drivers take advantage of discounts, the average savings per year on auto insurance for hybrid vehicles is 28% or $688.
Drive responsibly or pay higher rates
The easiest way to maintain good auto insurance prices in Albuquerque for hybrids is to be a careful driver and maintain a clean driving record. The diagram below demonstrates how citations and accidents can raise car insurance costs for each different age category. The prices are based on a single female driver, full coverage, $500 deductibles, and no policy discounts are applied.
The data above shows the average cost of auto insurance in Albuquerque per year with no accidents and a clean driving record is $1,449. Add in one speeding ticket and the average cost rises to $1,643, an increase of $194 each year. Then add two accidents along with the one speeding ticket and the yearly cost of auto insurance for hybrid vehicles goes up to an average of $3,379. That’s an increase of $1,930, or $161 per month, just for being a little careless behind the wheel!
Chances are good that you’re overpaying for Albuquerque car insurance
Albuquerque, NM auto insurance rates are calculated based on many things which can substantially decrease or increase the cost of your policy. Improving your credit rating, buying a new vehicle, or having an accident can trigger price changes that can now make some companies cheaper than before.
Also, auto insurance companies modify pricing as often as every quarter as an adjustment for underwriting gains or losses. Heavier than normal losses can cause rate increases, while a better loss history may result in cheaper Albuquerque car insurance rates.
For instance, the data below shows a variety of companies that have the cheapest car insurance in Albuquerque, NM for a 40-year-old female driver with a clean driving record, no accidents, and a good credit rating. If we estimate prices based on her current rating profile, USAA has the best car insurance rates in Albuquerque at $901 a year. This is $667 less than the average policy premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers are the rest of the cheapest Albuquerque, NM auto insurance companies.
The example below compares rates after we give the driver in the first example a couple of claims, a lower credit score, and a few blemishes on her driving record. Due to the fact that every insurance company has their own process to set policy rates, comparing rates may now show a different ranking of companies as shown below.
USAA now has the cheapest price in Albuquerque, NM with State Farm, Central Mutual, Safeco, and Allied now rounding out the top five. This example demonstrates why Albuquerque drivers need to take the time to shop around to find the most budget-friendly insurance rates for hybrid vehicles.
Auto insurance prices are impacted by many risk factors and can increase or decrease at any time, so the most economical company when you last compared rates may now be wasting a lot of money.
If you have questions and prefer to have some advice when comparing insurance rates for hybrids, the agencies below are a good start to aid you in deciding which auto insurance policy fits you best. To locate an Albuquerque insurance agent close to you, click the button below the list or click here to get price quotes now.
- Berger Briggs Real Estate and Insurance Inc
4333 Pan American Fwy – Albuquerque, NM 87107 – (505) 247-0444 - Allstate Insurance: Larry Gaylord
3296 Coors Blvd NW d – Albuquerque, NM 87120 – (505) 836-4630 - Daniels Insurance Inc
320 Gold Ave SW # 700 – Albuquerque, NM 87102 – (505) 766-9676 - Allstate Insurance – The Keller Agency
6321 Riverside Plaza Ln – Albuquerque, NM 87120 – (505) 792-6616 - Aimee Abeyta – State Farm Insurance Agent
12836 Lomas Blvd NE a – Albuquerque, NM 87112 – (505) 292-3990