It’s an obvious conclusion that insurance companies don’t want you to look for a cheaper policy. Consumers who shop around are likely to switch to a new company because there is a good probability of finding a lower rate. A recent study showed that people who compared prices once a year saved about $3,400 over four years compared to other drivers who didn’t regularly shop around.
If finding low prices for car insurance in Albuquerque is your ultimate target, learning how to get free comparison quotes and analyze car insurance can save time and make the process easier.
The easiest way to find the cheapest price for auto insurance rates in Albuquerque is to do a yearly price comparison from providers who sell auto insurance in New Mexico.
- Get an understanding of how auto insurance works and the changes you can make to keep rates in check. Many policy risk factors that cause high rates such as speeding and a negative credit history can be rectified by making minor changes in your lifestyle.
- Get rate quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO and State Farm, while independent agencies can quote rates for a wide range of insurance providers.
- Compare the quotes to your current policy premium to determine if you can save on S-Type insurance in Albuquerque. If you can save money and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Tell your current agent or company of your intent to cancel your current auto insurance policy and submit the signed application along with the required initial payment to the new company. Once coverage is bound, place your new certificate of insurance with your registration paperwork.
A tip to remember is to try to compare identical deductibles and limits on every quote request and and to get rate quotes from as many car insurance companies as possible. This provides an apples-to-apples comparison and a complete price analysis.
If you currently have a car insurance policy, you will be able to get lower rates using the ideas covered in this article. The intent of this article is to tell you the best methods to compare rates and how you can save the most money. But New Mexico drivers must understand the methods companies use to charge you for coverage because it varies considerably.
When comparison shopping, there are several ways to get quotes from local Albuquerque car insurance companies. The fastest way to find the lowest Jaguar S-Type rates is simply to get online rate quotes. When comparison shopping, comparing a wide range of rates helps locate the best rates.
The companies shown below can provide quotes in New Mexico. To get cheap car insurance in Albuquerque, it’s a good idea that you visit as many as you can to get the lowest price.
Car insurance is not optional
Even though Albuquerque S-Type insurance rates can get expensive, buying car insurance may be required for several reasons.
First, most states have compulsory liability insurance requirements which means it is punishable by state law to not carry a minimum amount of liability if you want to drive legally. 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 S-Type has a loan, more than likely the lender will force you to buy full coverage to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the bank will be required to insure your Jaguar at a much higher premium rate and require you to reimburse them for the much more expensive policy.
Third, car insurance protects both your assets and your vehicle. It also can pay for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, also covers legal expenses if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.
The benefits of having car insurance definitely exceed the price paid, especially if you ever need it. According to a 2015 survey, the average American driver is overpaying over $830 a year so you should quote rates once a year at a minimum to make sure the price is not too high.
Components of Your Jaguar S-Type Insurance Rates
Many different elements are used when you quote your car insurance policy. Some are obvious such as traffic violations, but some are less apparent like your vehicle usage or your vehicle rating.
- Compare rates if you bundle your policies – The majority of companies allow a discount for people who carry more than one policy, otherwise known as a multi-policy discount. Even if you already get this discount, it’s in your best interest to comparison shop to make sure you are getting the best deal. It’s possible to still save money by buying insurance from a different company.
- Raise coverage deductibles and save – The deductibles you choose define the amount you are required to pay before a claim is paid by your company. Insurance for physical damage, also known as collision and other-than-collision, is used to repair damage to your car. A few examples of covered claims are a windshield broken by a bird, collision with a deer, or theft of your vehicle. The larger the amount you’re willing to pay, the bigger discount you will receive.
- Put fewer miles on your vehicle – The higher the mileage driven in a year’s time the more you’ll pay to insure it. Almost all companies rate vehicles based upon how you use the vehicle. Cars not used for work or commuting can be on a lower rate level than those used for commuting. It’s a good idea to make sure your policy properly reflects how each vehicle is driven, because improper ratings can cost you money. A policy that improperly rates your S-Type is throwing money out the window.
- Policy lapses lead to higher rates – Allowing your insurance policy to lapse can be a guaranteed way to drive up your policy premiums. Not only will you pay more, not being able to provide proof of insurance could earn you a hefty fine and possibly a revoked license. You may then have to provide proof of insurance in the form of an SR-22 filing with the New Mexico department of motor vehicles.
- Job can influence premiums – Do you have a high-stress occupation? Occupations such as lawyers, air traffic controllers, and medical professionals generally have higher average rates attributed to intense work requirements and long work hours. Conversely, occupations like professors, students and performers have the lowest average rates.
- Use but don’t abuse your insurance – Auto insurance companies in New Mexico give cheaper rates to people who only file infrequent claims. If you file claims often, you can pretty much guarantee either higher rates or even cancellation. Your car insurance is meant to be used in the event of the large, substantial claims.
- Deter car thieves – Choosing a vehicle with anti-theft technology or alarm system can earn a premium discount. Anti-theft features like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all hinder auto theft and help lower rates.
Lower-cost Albuquerque insurance rates with discounts
Insurance is not an enjoyable expense, but you may be missing some discounts that many people don’t even know exist. Larger premium reductions will be automatically applied when you get a quote, but some may not be applied and must be specifically requested before they will apply.
- Good Student Discount – Maintaining excellent grades can save 20 to 25%. Earning this discount can benefit you up until you turn 25.
- Life Insurance Discount – If the company offers life insurance, you could get better rates if you take out some life insurance in addition to your auto policy.
- First Accident Forgiveness – This one is not really a discount per se, but companies like Progressive, State Farm and GEICO allow you one accident without raising rates if your claims history is clear for a set time period.
- Military Deployment Discount – Having a deployed family member could qualify you for better prices.
- Theft Prevention Discount – Cars equipped with tracking devices and advanced anti-theft systems are stolen less frequently so companies will give you a small discount.
- Early Switch Discount – A few larger companies offer discounts for buying a new policy prior to your current S-Type insurance policy expiration. You can save around 10% with this discount.
- Safety Restraint Discount – Requiring all passengers to use their safety belts could cut 10% or more off the personal injury premium cost.
- Driving Data Discount – Drivers who elect to allow driving data collection to look at vehicle usage remotely like Allstate’s Drivewise may see discounts if they are good drivers.
As a footnote on discounts, many deductions do not apply to the overall cost of the policy. Most only cut the price of certain insurance coverages like liability and collision coverage. So despite the fact that it appears all those discounts means the company will pay you, you’re out of luck. But all discounts will cut your overall bill.
A list of companies and some of the discounts are:
- Mercury Insurance includes discounts for location of vehicle, multi-car, age of vehicle, low natural disaster claims, and type of vehicle.
- Farmers Insurance offers discounts including business and professional, good student, switch companies, bundle discounts, and youthful driver.
- Farm Bureau may have discounts that include safe driver, 55 and retired, multi-vehicle, multi-policy, good student, and renewal discount.
- State Farm has savings for defensive driving training, anti-theft, multiple autos, Steer Clear safe driver discount, and passive restraint.
- Allstate may offer discounts for passive restraint, economy car, good payer, early signing, farm vehicle, auto/life discount, and resident student.
- GEICO may include discounts for defensive driver, multi-policy, military active duty, air bags, multi-vehicle, five-year accident-free, and daytime running lights.
Before buying, ask each insurance company to apply every possible discount. Some of the discounts discussed earlier may not apply to policies in Albuquerque. If you would like to see a list of insurance companies that can offer you the previously mentioned discounts in Albuquerque, click here to view.
Local Albuquerque auto insurance agents
A lot of people would rather talk to a local agent and there is nothing wrong with that. One of the benefits of price shopping on the web is that you can find better rates but also keep your business local.
For easy comparison, once you complete this short form, your insurance coverage information is immediately sent to local insurance agents who will give competitive quotes and help you find cheaper coverage. There is no reason to search for any insurance agencies since rate quotes are delivered to your email. You can most likely find cheaper rates and an insurance agent to talk to. If you have a need to get a rate quote from one company in particular, you would need to visit that company’s website and fill out the quote form the provide.
Choosing the best provider should depend on more than just the bottom line cost. The answers to these questions are important, too.
- How is replacement cost determined on your vehicle?
- If independent agents, which companies do they recommend?
- Is there a 24/7 contact number?
- Will the company cover a rental car if your car is getting fixed?
- Will the agent or a CSR service your policy?
If you want to use a reliable agent, you must know there are a couple different types of agents that differ in how they can insure your vehicles. Agents in Albuquerque are classified as either independent agents or exclusive agents.
Exclusive Auto Insurance Agents
Agents in the exclusive channel can only quote rates from one company like State Farm, Allstate, and Farm Bureau. Exclusive agents cannot place coverage with different providers so they really need to provide good service. These agents are well schooled on what they offer which aids in selling service over price. Some people will only purchase coverage from exclusives primarily because of the prominent brand name instead of buying on price only.
Shown below is a short list of exclusive insurance agencies in Albuquerque willing to provide comparison quotes.
- Bob Jones – State Farm Insurance Agent
3613 NM-528 B – Albuquerque, NM 87114 – (505) 898-9505 – View Map - Reggie Gallegos – State Farm Insurance Agent
2308 Eubank Blvd #B – Albuquerque, NM 87112 – (505) 298-8100 – View Map - Art Sandoval – State Farm Insurance Agent
5555 Montgomery Blvd NE #19 – Albuquerque, NM 87109 – (505) 338-0300 – View Map
Independent Auto Insurance Agents
Agents in the independent channel are not required to write business for one company and that gives them the ability to insure through lots of different companies and get you the best rates possible. To transfer your coverage to a different company, the business is moved internally which requires no work on your part.
If you are trying to find cheaper rates, we highly recommend that you compare quotes from independent agents to have the most options to choose from. Many independent agencies also insure through small regional insurance companies that may have much lower rates than larger companies.
Listed below is a list of independent agents in Albuquerque that can give you price quotes.
- Berger Briggs Real Estate and Insurance Inc
4333 Pan American Fwy – Albuquerque, NM 87107 – (505) 247-0444 – View Map - Cress Insurance
6101 Moon St NE #1000 – Albuquerque, NM 87111 – (505) 822-8114 – View Map - Sunset Insurance Corporation
1905 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 247-2578 – View Map
Cheaper insurance rates are possible
When buying insurance coverage, it’s a bad idea to reduce coverage to reduce premium. There are too many instances where someone dropped liability coverage limits and discovered at claim time that it was a big error on their part. Your goal is to purchase plenty of coverage at the best price.
We just showed you many ways to get a better price on Jaguar S-Type insurance in Albuquerque. It’s most important to understand that the more quotes you get, the higher your chance of finding inexpensive Albuquerque car insurance quotes. Drivers may even discover the lowest priced insurance comes from a small local company.
Consumers leave their current company for any number of reasons including delays in responding to claim requests, high rates after DUI convictions, policy non-renewal and unfair underwriting practices. Whatever your reason, finding a new insurance company is easier than you think.
For more information, feel free to browse these articles:
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- How Much are Albuquerque Auto Insurance Rates for Unemployed Drivers? (FAQ)
- Who Has Affordable Albuquerque Car Insurance Rates for Drivers with a DUI? (FAQ)
- How Much are Albuquerque Auto Insurance Quotes for a Ford Focus? (FAQ)
- Who Has the Cheapest Auto Insurance for a Learners Permit in Albuquerque? (FAQ)
- What Insurance is Cheapest for a Ford Fusion in Albuquerque? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- Your Car has been Stolen: Now What? (Allstate)
- Insurance Losses by Make and Model (iihs.org)
- Alcohol Impaired Driving FAQ (iihs.org)