Amazingly, a recent NerdWallet.com study showed that a large majority of auto insurance policyholders have bought auto insurance from the same company for at least the last four years, and nearly half have never quoted auto insurance rates at all. Drivers in New Mexico could save almost 40% a year just by shopping around, but they just don’t understand the actual amount they would save if they switched to a cheaper policy.
To save the most money, the best way to get low-cost Chevy Aveo insurance is to start doing an annual price comparison from companies in Albuquerque. This can be done by following these steps.
First, try to understand how companies set rates and the modifications you can make to lower rates. Many things that drive up the price such as traffic citations and a bad credit rating can be improved by making small lifestyle or driving habit changes. Keep reading for ideas to help prevent costly coverage and get bigger discounts that may have been overlooked.
Second, compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from one company like Progressive and State Farm, while agents who are independent can give you price quotes from multiple companies.
Third, compare the new quotes to the price on your current policy to determine if you can save on Aveo insurance. If you find a better price and change companies, make sure coverage is continuous and does not lapse.
A valuable tip to remember is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on each quote and and to get rates from as many companies as you can. This ensures an apples-to-apples comparison and maximum price selection.
Comparing rates for the lowest cost coverage in Albuquerque is quite easy. Essentially each driver who shops for insurance stands a good chance to be able to cut their insurance bill. But New Mexico car owners need to learn how the larger insurance companies market on the web because it varies considerably.
Best Chevy Aveo insurance rates in New Mexico
The providers in the list below are our best choices to provide price quotes in New Mexico. In order to find cheap auto insurance in NM, we recommend you visit as many as you can in order to get a fair rate comparison.
Chevy Aveo insurance rate analysis
The rate table shown below outlines detailed analysis of insurance premium costs for Chevy Aveo models. Having a better understanding of how insurance rates are figured can benefit drivers when making smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Aveo LS 4-Dr Hatchback | $242 | $484 | $328 | $20 | $98 | $1,172 | $98 |
| Aveo LS 4-Dr Sedan | $242 | $484 | $328 | $20 | $98 | $1,172 | $98 |
| Aveo LT 4-Dr Hatchback | $272 | $484 | $328 | $20 | $98 | $1,202 | $100 |
| Aveo LT 4-Dr Sedan | $272 | $484 | $328 | $20 | $98 | $1,202 | $100 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Rate quotes do not factor in your specific Albuquerque location which can revise insurance rates noticeably.
Deductible comparison
One common question asked by Albuquerque drivers is which deductible level should you buy. The figures shown below lay out the cost difference when you choose different policy deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second price table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Aveo LS 4-Dr Hatchback | $278 | $590 | $322 | $20 | $96 | $1,331 | $111 |
| Aveo LS 4-Dr Sedan | $278 | $590 | $322 | $20 | $96 | $1,331 | $111 |
| Aveo LT 4-Dr Hatchback | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| Aveo LT 4-Dr Sedan | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Aveo LS 4-Dr Hatchback | $154 | $310 | $322 | $20 | $96 | $902 | $75 |
| Aveo LS 4-Dr Sedan | $154 | $310 | $322 | $20 | $96 | $902 | $75 |
| Aveo LT 4-Dr Hatchback | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| Aveo LT 4-Dr Sedan | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Information does not factor in specific Albuquerque garaging location which can increase or decrease coverage rates substantially.
Using the data above, we can ascertain that using a $100 deductible costs roughly $37 more each month or $444 each year across all Chevrolet Aveo models than opting for the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at a minimum 24 months between claim filings, you would more than likely save some money if you decide on a higher deductible. The table below illustrates how this determination is made.
| Average monthly premium for $100 deductibles: | $113 |
| Average monthly premium for $1,000 deductibles (subtract): | – $76 |
| Monthly savings from raising deductible: | $37 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $37 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 24 months |
One thing to note is that increasing deductibles to lower your rates means you will have to pay more when you have a comprehensive or collision claim. You should have some savings in the event you have to pay the higher deductible in order to repair your vehicle.
The chart below highlights how deductible choice and can impact Chevy Aveo insurance premiums for each different age category. The data assumes a single female driver, comp and collision included, and no discounts are applied to the premium.
How do Insurance Providers Determine Chevy Aveo Insurance Rates?
One of the most helpful ways to save on car insurance is to to have a grasp of the rating factors that aid in calculating your policy premiums. If you have a feel for what determines base rates, this allows you to make good choices that can help you get lower rates.
Extra policy coverages push up premiums – There are a lot of additional extra coverages that may not really be needed on your car insurance policy. Coverages like replacement cost coverage, better glass coverage, and Farm Bureau memberships are some examples. These coverages may sound good at first, but if you’ve never needed them in the past think about removing them and cutting costs.
Battle of the sexes – Over the last 50 years, statistics have shown that females take fewer risks when driving. However, don’t assume that men are worse drivers. Males and females tend to get into accidents in similar percentages, but the men tend to have higher claims. They also receive more costly citations like DUI and reckless driving.
The information below compares Chevy Aveo auto insurance rates for male and female drivers. The costs are based on no violations or claims, full physical damage coverage, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
Prices may be lower depending on your occupation – Jobs such as real estate brokers, social workers, and financial analysts usually pay higher rates than the rest of us in part from intense work-related stress and long work days. On the flip side, jobs such as actors, engineers and retirees get better rates.
Insure your auto and home with one company – Most major insurers apply discounts to people who have multiple policies with them. It’s known as a multi-policy discount. The amount of the discounts can be 10 percent or more. Even if you already get this discount, you still need to comparison shop to help guarantee you have the best rates. Consumers may find a better deal by insuring with multiple companies.
Get cheaper Chevy Aveo insurance in Albuquerque with discounts
Auto insurance companies don’t always advertise all possible discounts very well, so we took the time to find a few of the more common and also the lesser-known discounts that may be available.
- Home Ownership Discount – Owning your own home or condo can save you money since home ownership requires personal responsibility.
- Student in College – College-age children who are enrolled in higher education away from home and do not take a car to college can be insured at a reduced rate.
- No Accidents – Claim-free drivers pay much less when compared with insureds who have frequent claims or accidents.
- Theft Deterrent Discount – Cars that have factory anti-theft systems are stolen less frequently and that can save you a little bit as well.
- Savings for New Vehicles – Insuring a vehicle that is new can save you some money compared to insuring an older model.
A little disclaimer on discounts, most credits do not apply to the entire cost. A few only apply to the cost of specific coverages such as liability, collision or medical payments. If you do the math and it seems like adding up those discounts means a free policy, insurance companies aren’t that generous. Any amount of discount should help reduce the cost of coverage.
The illustration below shows the comparison of Chevy Aveo insurance premiums with and without discounts. The data is based on a female driver, a clean driving record, no claims, 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 second shows the rates with safe-driver, marriage, claim-free, homeowner, multi-car, and multi-policy discounts applied.
A few popular companies and the discounts they provide are outlined below.
- State Farm offers discounts including good student, anti-theft, defensive driving training, student away at school, and safe vehicle.
- GEICO policyholders can earn discounts including membership and employees, driver training, emergency military deployment, military active duty, federal employee, and anti-lock brakes.
- SAFECO may have discounts that include drive less, accident prevention training, teen safety rewards, multi-car, anti-lock brakes, teen safe driver, and homeowner.
- Farmers Insurance offers premium reductions for multi-car, homeowner, alternative fuel, mature driver, youthful driver, early shopping, and switch companies.
- AAA may offer discounts for multi-policy, pay-in-full, good student, anti-theft, AAA membership discount, education and occupation, and good driver.
- USAA may include discounts for loyalty savings, good student, safe driver, multi-vehicle, and vehicle storage.
Double check with every prospective company which discounts you qualify for. Some of the discounts discussed earlier might not apply in Albuquerque.
Local insurance agents
Some consumers would prefer to go talk to an agent and that is just fine! The best thing about getting online price quotes is that you can obtain cheap rate quotes and also buy local. And providing support for local agents is still important in Albuquerque.
To help locate an agent, after submitting this form (opens in new window), your coverage information is transmitted to insurance agents in Albuquerque that can give you free Albuquerque car insurance quotes for your car insurance coverage. You won’t even need to contact any insurance agencies since rate quotes are delivered immediately to your email address. You can find the lowest rates and an insurance agent to talk to. If you wish to compare rates from one company in particular, just search and find their rate quote page and submit a quote form there.
Pick the best car insurance agent in Albuquerque for you
If you prefer to buy car insurance from a local Albuquerque insurance agency, it’s important to understand the types of agencies from which to choose. Car insurance policy providers are classified as either independent or exclusive.
Independent Agents (or Brokers)
Independent insurance agents are not restricted to one company so they can insure your vehicles with any number of different companies and get you the best rates possible. To move your coverage to a new company, they simply move your policy to a different company and you don’t have to do anything. When comparing rate quotes, you will definitely want to contact independent agents to get the most accurate price comparison.
Featured below is a partial list of independent insurance agencies in Albuquerque who may provide comparison quotes.
Sunset Insurance Corporation
1905 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 247-2578 – View Map
Daniels Insurance Inc
320 Gold Ave SW # 700 – Albuquerque, NM 87102 – (505) 766-9676 – View Map
Menicucci Insurance Llc
2116 Vista Oeste NW Bldg 5 – Albuquerque, NM 87120 – (505) 883-3683 – View Map
Exclusive Insurance Agents
These type of agents are contracted to one company such as Farmers Insurance, Allstate, or State Farm. These agents are not able to place coverage with different providers so if the price isn’t competitive there isn’t much they can do. Exclusive agencies receive a lot of sales training on what they offer and that enables them to sell even at higher rates.
Shown below are Albuquerque exclusive insurance agents that are able to give rate quotes.
Bob Jones – State Farm Insurance Agent
3613 NM-528 B – Albuquerque, NM 87114 – (505) 898-9505 – View Map
Matt Medina – State Farm Insurance Agent
4253 Montgomery Blvd NE g205 – Albuquerque, NM 87109 – (505) 881-8100 – View Map
Art Sandoval – State Farm Insurance Agent
5555 Montgomery Blvd NE #19 – Albuquerque, NM 87109 – (505) 338-0300 – View Map
Selecting an insurance agency requires more thought than just a low price. These are some questions you should get answers to.
- Will high miles depreciate repair valuations?
- Is the agency active in community causes in Albuquerque?
- When do they do a full risk review?
- How is replacement cost determined on your vehicle?
- If your car is in the repair shop, do you have coverage for a rental car?
- Do they feel the quoted coverages are adequate?
- How much experience to they have in personal lines coverages?
- Do they have designations such as AIC, CPCU, or CIC?
If you receive answers to your satisfaction as well as a affordable price, it’s a good possibility that you have found an insurance agent that is professional and can properly service your car insurance policy. Keep in mind policyholders can cancel your coverage at any time so don’t feel you are locked into your new company for any length of time.
Persistent drivers can save
When you buy Albuquerque car insurance online, do not buy less coverage just to save a little money. There are too many instances where someone dropped uninsured motorist or liability limits only to regret at claim time that the savings was not a smart move. The goal is to purchase a proper amount of coverage for the lowest cost, but do not skimp to save money.
In this article, we presented many tips how you can save on Chevy Aveo insurance in Albuquerque. The most important thing to understand is the more companies you get car insurance rates for, the better likelihood of getting the cheapest Chevrolet Aveo rate quotes. You may even be surprised to find that the lowest rates come from the smaller companies. These companies may cover specific market segments cheaper as compared to the big name companies such as Allstate or State Farm.
Helpful resources
- Comprehensive Coverage (Liberty Mutual)
- Who Has Affordable Albuquerque Car Insurance Rates for Drivers with a DUI? (FAQ)
- Who Has Cheap Auto Insurance Quotes for First-time Drivers in Albuquerque? (FAQ)
- How Much are Albuquerque Auto Insurance Quotes for a Ford Focus? (FAQ)
- How Much is Car Insurance for Low Mileage Drivers in Albuquerque? (FAQ)
- Who Has Cheap Albuquerque Auto Insurance for a School Permit? (FAQ)
- Who Has Cheap Auto Insurance for Drivers Over Age 70 in Albuquerque? (FAQ)
- How Much are Albuquerque Car Insurance Rates for Good Students? (FAQ)
- Who Has the Cheapest Auto Insurance for a Jeep Wrangler in Albuquerque? (FAQ)
- Choosing an Insurance Company (Insurance Information Institute)
- Driving in Bad Weather (Insurance Information Institute)
- Top Signs Your Brakes are Giving Out (State Farm)