If saving the most money is your goal, then the best way to find cheaper auto insurance rates is to start comparing prices regularly from companies in Albuquerque.
- Try to comprehend how companies price auto insurance and the measures you can take to prevent high rates. Many rating factors that increase rates like careless driving and a poor credit score can be amended by improving your driving habits or financial responsibility. Later in this article we will cover more ideas to help prevent high rates and find discounts that may have been missed.
- Compare rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from one company like GEICO and State Farm, while independent agents can quote prices from multiple insurance companies.
- Compare the new rate quotes to the price on your current policy and see if you can save money. If you find a lower rate and make a switch, make sure there is no lapse in coverage.
The critical component of shopping around is that you’ll want to compare similar deductibles and liability limits on each quote request and and to get price quotes from every company you can. Doing this helps ensure an accurate price comparison and the best price quote selection.
Sad but true, 70% of consumers kept their policy with the same company for at least four years, and roughly 40% of drivers have never quoted insurance rates at all. With the average premium in the U.S. being $1,847, drivers could save roughly $859 every year just by getting comparison quotes, but most tend to underestimate the large savings they would see if they swap their current policy for a cheaper one.
How to buy Audi TTS insurance online
It’s important to know that comparing more rates from different companies helps you find the best rates. Some insurance companies are not set up to provide rate quotes online, so you need to compare price quotes from them as well.
The providers in the list below can provide free rate quotes in New Mexico. If you wish to find the best cheap auto insurance in Albuquerque, NM, we suggest you compare several of them to get a more complete price comparison.
Verify you’re earning every discount
Car insurance is not cheap, but you might be missing out on some discounts that you may not even know about. Certain discounts will be applied when you get a quote, but a few must be manually applied prior to getting the savings. If they aren’t giving you every credit possible, you’re just leaving money on the table.
- Seat Belts Save – Drivers who require all vehicle occupants to wear their seat belts can save a little on the premium charged for medical payments and/or PIP.
- Mature Driver Discount – Mature drivers can get reduced rates.
- Safe Driver Discount – Insureds without accidents may save up to 50% more as compared to drivers with claims.
- Low Mileage Discounts – Driving fewer miles could qualify for slightly better rates than normal.
- Paperwork-free – Some car insurance companies will give you a small discount for completing your application online.
One thing to note about discounts is that most discounts do not apply to all coverage premiums. Most cut individual premiums such as comprehensive or collision. Just because it seems like having all the discounts means you get insurance for free, nobody gets a free ride.
If you would like to choose from a list of insurance companies that offer discounts in New Mexico, follow this link.
Local insurance agents
A lot of people still like to buy from a local agent and doing so can bring peace of mind An additional benefit of getting online price quotes is that drivers can save money and get cheaper premium rates and still have a local agent. And providing support for local insurance agents is important particularly in Albuquerque.
Once you complete this quick form, the quote information gets sent to agents in your area who want to provide quotes for your business. It simplifies rate comparisons since you won’t have to leave your computer because prices are sent directly to you. You’ll get the best rates AND an agent nearby. If you want to get a comparison quote from a specific insurance company, you just need to jump over to their website and give them your coverage information.
When researching a reputable agency, it’s important to understand the different types of agencies and how they differ in how they can insure your vehicles. Agents may be either exclusive or independent agents depending on their company appointments.
Independent Insurance Agencies or Brokers
These agents are not locked into one company so they can write business with many different companies and get you the best rates possible. If premiums increase, they simply move your policy to a different company and the insured can keep the same agent. When comparing rates, it’s recommended you get several quotes from multiple independent agents for maximum quote selection.
Shown below are Albuquerque independent agents that can possibly get you free insurance quotes.
Berger Briggs Real Estate and Insurance Inc
4333 Pan American Fwy – Albuquerque, NM 87107 – (505) 247-0444 – View Map
Sunset Insurance Corporation
1905 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 247-2578 – View Map
Commercial West Insurance
2616 Mesilla St NE #2 – Albuquerque, NM 87110 – (505) 255-9577 – View Map
Exclusive Insurance Agents
Agents that choose to be exclusive can usually just insure with one company like Allstate, Farmers Insurance, State Farm, and AAA. They generally cannot compare other company’s rates so it’s a take it or leave it situation. Exclusive agents receive a lot of sales training on their products and sales techniques which helps offset the inability to provide other markets.
The following are Albuquerque exclusive agents that can give you rate quotes.
Cindy Maxwell – State Farm Insurance Agent
8244 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 883-9000 – View Map
Mike Volk – State Farm Insurance Agent
3716 Central Ave SE – Albuquerque, NM 87108 – (505) 232-2886 – View Map
Derek Sanchez – State Farm Insurance Agent
725 San Mateo Blvd NE – Albuquerque, NM 87108 – (505) 292-3984 – View Map
Choosing an insurance agency needs to be determined by more than just the premium amount. Any good agent in Albuquerque should know the answers to these questions.
- Is the agency active in community causes in Albuquerque?
- Do they carry Errors and Omissions coverage?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Can they provide you with a list of referrals?
- Do they prorate repair cost based on vehicle mileage?
- What are their preferred companies if they are an independent agency?
After receiving good feedback to all your questions and locked in a price quote, you’ve probably found a car insurance agent that is a good match to adequately provide insurance. Just keep in mind you can always cancel your policy whenever you want so never assume you are locked into a specific agent for any length of time.
Reduce Insurance Rates with These Tips
Multiple criteria are used in the calculation when pricing auto insurance. A few of the factors are predictable like your driving record, although some other factors are not as apparent such as your credit history or how financially stable you are. Part of the car insurance buying process is learning some of the elements that play a part in calculating the price you pay for car insurance. If you have some idea of what controls the rates you pay, this enables you to make decisions that may reward you with lower rates.
Listed below are some of the factors used by your company to calculate your rate level.
Good credit equals lower rates – A driver’s credit rating can be an important factor in calculating your car insurance rates. If your credit is lower than you’d like, you may save money insuring your Audi TTS if you improve your credit rating. Drivers who have good credit tend to be better risks to insure as compared to drivers with bad credit.
Never allow your car insurance to lapse – Letting your insurance expire can be a quick way to increase your rates. In addition to paying higher rates, failure to provide proof of insurance may result in a license revocation or jail time. You could then be forced to prove you have insurance by filing a SR-22 with the New Mexico DMV.
Teen drivers cost more – Beginning drivers in New Mexico are statistically shown to be careless and easily distracted when driving with friends and because of this, their car insurance rates are much higher. Mature drivers are shown to be more cautious, cause fewer claims and accidents, and usually have better credit.
Do thieves like your car? – Owning a car with a theft deterrent system can save you a little every year. Systems that thwart thieves such as OnStar, LoJack tracking, and tamper alarms all help stop your vehicle from being stolen.
Drive a fast car and pay more – The performance level of the car you are trying to find cheaper insurance for makes a significant difference in determining your rates. The cheapest insurance rates will generally be found on lower cost passenger cars, but the cost you end up paying is determined by many additional factors.
Liability insurance is critical – A critical coverage on your policy, liability insurance is the protection if a jury decides you are liable for personal injury or accident damage. This coverage provides for a legal defense which can cost thousands of dollars. Liability is cheap when compared to the cost of physical damage coverage, so buy as much as you can afford.
Higher prices for specific vocations – Did you know your career choice can influence rates? Occupational choices like doctors, police officers, and stock brokers usually pay the highest average rates in part from intense work situations and lengthy work days. On the other hand, jobs such as actors, students and performers have the lowest average rates.
Insurance prices and driver gender – The statistics show that females take fewer risks when driving. It does not mean women are better drivers. Males and females have at-fault accidents in similar numbers, but the males cause more damage. Men also tend to have more aggressive citations such as reckless driving. Male drivers age 16 to 19 are several times more likely to be in an accident and thus pay the highest rates.
Audi TTS insurance claim data – Companies include the past claim trends for vehicles to help determine the rate you pay. Models that statistically have increased losses will have increased rates. The next table shows the compiled insurance loss statistics for Audi TTS vehicles.
For each policy coverage type, the loss probability for all vehicles, as an average, is considered to be 100. Percentage values below 100 represent a good loss history, while percentage values above 100 indicate higher probability of having a loss or statistically larger losses.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Audi TTS 2dr 4WD | 141 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Three reasons to not skimp on insurance
Despite the high cost of buying insurance for a Audi TTS in Albuquerque, insurance serves several important purposes.
- Almost all states have minimum mandated liability insurance limits which means you are required to buy a specific level of liability insurance in order to license the vehicle. 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.
- If your TTS has a lienholder, it’s most likely the lender will have a requirement that you have physical damage coverage to guarantee their interest in the vehicle. If you default on your policy, the bank may insure your Audi for a lot more money and require you to pay for the much more expensive policy.
- Insurance protects both your Audi and your personal assets. It will also reimburse you for medical bills incurred in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, your insurance policy will pay to have it repaired.
The benefits of buying enough insurance more than offset the price you pay, especially for larger claims. But the average driver in New Mexico is currently overpaying as much as $855 a year so smart consumers compare quotes each time the policy renews to be sure current rates are still competitive.
Be persistent and save
As you restructure your insurance plan, don’t be tempted to buy less coverage just to save a little money. There are a lot of situations where someone sacrificed liability limits or collision coverage and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. Your goal should be to buy a smart amount of coverage for the lowest cost, but don’t skip important coverages to save money.
Cheaper auto insurance in Albuquerque is definitely available from both online companies and with local Albuquerque insurance agents, and you need to comparison shop both to get a complete price analysis. There are still a few companies who do not provide online rate quotes and usually these smaller providers work with independent agents.
Additional articles
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
- Who Has the Cheapest Car Insurance Quotes for Drivers Under 25 in Albuquerque? (FAQ)
- How Much are Auto Insurance Rates for a Nissan Rogue in Albuquerque? (FAQ)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- What Does No-Fault Insurance Cover? (Allstate)
- Safe Vehicles for Teens (iihs.org)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)