Compare Ford Edge Insurance Quotes in Albuquerque

We don’t have to tell you that insurance companies don’t want policyholders to shop around. Consumers who shop around annually are very likely to buy a new policy because they have good chances of finding good coverage at a lower price. A recent study showed that people who made a habit of comparing rate quotes saved as much as $865 a year compared to those who don’t make a habit of comparing rates.

If saving the most money on Ford Edge insurance in Albuquerque is your objective, learning how to get rate quotes and compare coverage rates can make the process more efficient.

It takes a little time, but the best way to get cheaper Ford Edge insurance is to start doing a yearly price comparison from providers that insure vehicles in Albuquerque. Prices can be compared by completing these steps.

1. Read and learn about what is in your policy and the measures you can control to prevent high rates. Many things that drive up the price like tickets, at-fault accidents, and a not-so-good credit rating can be rectified by improving your driving habits or financial responsibility. Read the full article for tips to help keep rates affordable and get bigger discounts.
2. Compare rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like Progressive or Allstate, while independent agents can quote rates from multiple insurance companies. View a list of agents
3. Compare the new quotes to your existing policy and determine if cheaper Edge coverage is available in Albuquerque. If you can save some money, make sure the effective date of the new policy is the same as the expiration date of the old one.

An essential thing to point out is to make sure you enter the same coverage limits and deductibles on each price quote and and to get quotes from all possible companies. Doing this helps ensure an apples-to-apples comparison and a thorough price selection.

If you have a policy now, you will most likely be able to save money using the techniques presented in this article. Buying the cheapest auto insurance in Albuquerque is really quite easy. But New Mexico vehicle owners need to have an understanding of the way companies set your policy premium and use it to find better rates.

First Step: Get free Ford Edge insurance quotes

There are several ways to obtain and compare prices from all the different companies. The easiest way by far to lower the rate you pay for Ford Edge insurance consists of obtaining rate quotes online.

Comparing price quotes online is fast and free, and it takes the place of having to drive around to local Albuquerque insurance agencies. Doing it all online makes this unnecessary unless you prefer the professional assistance of a licensed agent. It is possible with some companies obtain prices from the web and get advice from an agent in your area.

When comparing insurance rates, know that making a lot of price comparisons gives you a better chance of getting a lower rate. Some insurance companies are not set up to provide online price quotes, so it’s necessary to compare prices on coverage from those companies, too.

The companies in the list below provide free quotes in New Mexico. If you want the best cheap auto insurance in Albuquerque, NM, we suggest you click on several of them in order to get a fair rate comparison.

Why you need insurance for your Edge

Despite the fact that car insurance is not cheap in Albuquerque, car insurance is required in New Mexico but also provides important benefits.

First, most states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability coverage if you drive a 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.

Second, if your Ford Edge has a lienholder, almost all lenders will force you to have insurance to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the lender will be forced to insure your Ford at a much higher rate and require you to pay much more than you were paying before.

Third, insurance protects both your Ford and your assets. Insurance will pay for all forms of medical expenses for both you and anyone you injure as the result of an accident. Liability insurance will also pay for a defense attorney if you are sued as the result of an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.

The benefits of insuring your car outweigh the cost, especially for larger claims. As of last year, the average driver in New Mexico is overpaying more than $869 every year so compare rate quotes each time the policy renews to save money.

Ford Edge insurance rates and statistics

The price information displayed below highlights detailed analysis of prices for Ford Edge models. Having a better idea how car insurance prices are figured helps drivers make smart policy decisions.

Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Estimates do not factor in zip code location which can decrease or increase coverage rates noticeably.

Higher deductibles save money

When shopping for auto insurance, a common question is at what level do you set your deductibles. The tables below show the differences in premium rates between high and low policy deductibles. The first rate estimation uses a $250 physical damage deductible and the second pricing table uses a $500 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Table data does not factor in vehicle location which can revise price quotes significantly.

Using the premium rates above, we can conclude that using a $250 deductible costs approximately $13 more each month or $156 each year across all Ford Edge models than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to go at least 19 months between claims, you would probably come out ahead if you choose the higher deductible.

The diagram below shows how choosing a deductible and can increase or decrease Ford Edge insurance rates for different age groups of insureds. The rates are based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.

Auto insurance premiums based on gender

The chart below illustrates the difference between Ford Edge auto insurance costs for male and female drivers. The premiums are based on no accidents or driving violations, comp and collision included, $250 deductibles, marital status is single, and no discounts are factored in.

Full coverage or liability only

The example below visualizes the comparison of Ford Edge insurance costs with and without physical damage coverage. The information is based on no claims or violations, $500 deductibles, marital status is single, and no discounts are factored in.

Are you wasting money on full coverage?

There is no exact formula of when to eliminate comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

For example, let’s say your Ford Edge book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $4,000 after paying your deductible. If it’s costing you more than $400 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are a few situations where eliminating full coverage is not in your best interest. If you still have a loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

Companies offer lots of discounts on Ford Edge insurance in Albuquerque

Companies offering auto insurance don’t always list every possible discount very well, so below is a list a few of the more common as well as some of the hidden discounts you could be receiving when you buy Albuquerque car insurance online. If you are not receiving all the discounts available, you’re just leaving money on the table.

• Anti-lock Brake System – Cars, trucks, and SUVs with anti-lock braking systems can stop better under adverse conditions and the ABS can save up to 10%.
• New Car Discount – Insuring a new Edge may earn a small discount since new model year vehicles have better safety ratings.
• Government Employees – Employees or retirees of the government may qualify for a discount when you quote Albuquerque car insurance with some auto insurance companies.
• More Vehicles More Savings – Buying a policy with all your vehicles with the same company can get a discount on all vehicles.
• Drive Safe and Save – Insureds without accidents may save up to 50% more than drivers with accidents.
• Life Insurance Discount – Not all auto insurance companies offer life insurance, but some may give you a lower price if you buy some life insurance too.
• Senior Citizen Rates – Seniors are able to get a discount up to 10%.

Don’t be surprised that most discount credits are not given to the entire cost. Some only apply to the price of certain insurance coverages like comp or med pay. So when the math indicates adding up those discounts means a free policy, it’s just not the way it works.

The chart below compares Ford Edge yearly insurance costs with and without discounts. The premium estimates are based on a female driver, no driving violations, no at-fault accidents, New Mexico state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, homeowner, multi-policy, marriage, and safe-driver discounts applied.

If you would like to see a list of providers with discount auto insurance rates in New Mexico, click this link.

Don’t assume everyone needs the same auto insurance coverage

Always keep in mind that when comparing insurance from an agent or online, there isn’t really a one-size-fits-all type of policy. Your needs are not the same as everyone else’s and your policy should reflect that.
These are some specific questions may help highlight if your situation might need professional guidance.

• Do I have coverage if I rent a car in Mexico?
• Will I be non-renewed for getting a DUI or other conviction?
• How can I get my company to pay me more for my totaled car?
• Is my state a no-fault state?
• Do I need roadside assistance coverage?
• Is pet coverage available?
• Do I benefit by insuring my home with the same company?
• Is my camper covered for physical damage?
• Will filing a claim cost me more?
• Am I better off with higher deductibles on my Ford Edge?

If you can’t answer these questions, you may need to chat with an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area.