Want to learn how to buy cheaper Fiat 500 insurance in Albuquerque? Shopping for the cheapest Albuquerque Fiat 500 insurance quotes may seem to be intimidating for vehicle owners who are new to online price comparisons. When there are so many online companies available, how are vehicle owners able to have the ability to compare the different rates to find the best available price?
It’s an obvious assumption that car insurance companies don’t want you to compare rates. Consumers who shop around for the cheapest rate are inclined to buy a new policy because of the good chance of finding a lower rate. Surprisingly, a recent survey revealed that drivers who compared prices regularly saved on average $865 a year compared to drivers who never compared prices.
If finding the cheapest rates on car insurance is the reason you’re here, then having an understanding of how to get rate quotes and compare insurance can make it easier to shop your coverage around.
It’s a great practice to compare prices once or twice a year because prices go up and down regularly. Just because you had the best deal on Fiat 500 insurance in Albuquerque on your last policy the chances are good that you can find a lower premium rate today. There are a lot of ways to save on 500 insurance online, but I’m going to show you some guaranteed methods to reduce your car insurance bill.
How Your 500 Insurance Rates are Determined
Many things are taken into consideration when you get a price on insurance. Most are fairly basic such as your driving history, but some are less obvious such as whether you are married or your financial responsibility.
Your vocation is a factor – Did you know your car insurance rates can be affected by your occupation? Careers like doctors, airline pilots, and miners tend to have higher premiums than the average policyholder attributed to intense work requirements and long work days. Conversely, jobs such as professors, historians and retirees have lower than average premiums.
Women pay lower costs – Statistics demonstrate women are more cautious behind the wheel. However, don’t assume that women are BETTER drivers than men. Both sexes are responsible for accidents at a similar rate, but males get into accidents with more damage. Men also statistically get more serious tickets like DUI and reckless driving.
Rates increase with driving citations – Your driving citation history can have a huge impact on auto insurance premiums. Good drivers tend to pay less for car insurance as compared to those with violations. Just one moving violation can increase rates by twenty percent. People who have careless citations like reckless driving, hit and run or driving under the influence are required to file a proof of financial responsibility form (SR-22) with their state’s licensing department in order to prevent a license revocation.
Drive a fast vehicle and pay more – The performance level of the car or truck you need insurance for makes a huge difference in the rate you pay. The lowest rates are usually for economy passenger cars, but the final cost of insurance is determined by many other factors.
Consider raising physical damage deductibles – Comprehensive and collision coverage deductibles are how much you are required to spend out-of-pocket in the event of a claim. Physical damage insurance, aka comp and collision, is used to repair damage to your car. Some instances where coverage would apply would be collision with another vehicle, hail damage, and damage from wind. The more of the claim the insured is willing to pay, the lower your rates will be.
Where you live can influence rates – Residing in a small town may provide you with better prices if you are looking for the lowest rates. Less people living in that area means a lower chance of having an accident in addition to fewer liability claims. City drivers have congested traffic and a longer drive to work. More time on the road means higher likelihood of an accident.
Never go without car insurance – Letting your insurance expire will be a quick way to trigger a rate increase. Not only will you pay higher rates, being ticketed for driving with no insurance could result in a revoked license or a big fine. You may then have to prove you have insurance by filing a SR-22 with the New Mexico department of motor vehicles.
Additional coverages that may be costing you – Insurance companies have many extra add-on coverages that you can buy when buying car insurance. Insurance for replacement cost coverage, high-cost glass coverage, and membership fees could be just wasting money. They may seem like a good idea when you first buy your policy, but your money might be better spent on other coverage so consider taking them off your policy.
Insurance losses for a Fiat 500 – Companies use data from past claims when they file their rates in each state. Models that tend to have a trend towards higher claim severity or frequency will have a higher premium rate.
The next table shows the collected loss data for Fiat 500 vehicles. For each policy coverage, the loss probability for all vehicles, as an average, is equal to 100. Values under 100 are indicative of better than average losses, while values that are above 100 show a trend for more claims or a tendency for claims to be larger.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Fiat 500 | 72 | 76 | 66 | 96 | 89 | 84 |
| Fiat 500 Convertible | 76 | 79 | 60 | 85 | ||
| Fiat 500 Electric | 73 | 59 | 76 | 60 | ||
| Fiat 500L | 112 | 80 | 102 | 128 | 93 | 97 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Final considerations
As you restructure your insurance plan, don’t be tempted to buy poor coverage just to save money. In many instances, consumers will sacrifice liability limits or collision coverage only to regret that their decision to reduce coverage ended up costing them more. Your focus should be to get the best coverage possible at an affordable rate, but don’t skip important coverages to save money.
A few companies may not offer rates over the internet and these smaller providers provide coverage only through independent insurance agents. Cheap Fiat 500 insurance in Albuquerque is possible online in addition to many Albuquerque insurance agents, and you should be comparing both in order to have the best chance of saving money.
How to find low-cost rates for Fiat 500 insurance in Albuquerque
The best way to find cheaper quotes for Fiat 500 insurance in Albuquerque is to compare prices annually from providers in New Mexico.
- Take a few minutes and learn about how companies set rates and the modifications you can make to lower rates. Many factors that increase rates such as traffic violations and a lousy credit rating can be improved by making minor driving habit or lifestyle changes.
- Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from one company like GEICO and Allstate, while independent agents can provide prices for a wide range of companies.
- Compare the quotes to your existing policy and determine if there is any savings. If you find a lower rate quote, verify that coverage does not lapse between policies.
One key aspect when comparing rates is to use the same liability limits and deductibles on every price quote and and to get quotes from as many companies as you can. Doing this provides an accurate price comparison and the best price selection.
Much more information about car insurance in New Mexico can be found at the links below
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Who Has the Cheapest Albuquerque Car Insurance Quotes for a 20 Year Old Female? (FAQ)
- Who Has Cheap Albuquerque Auto Insurance Rates for Drivers with Accidents? (FAQ)
- How Much are Albuquerque Car Insurance Rates for Good Students? (FAQ)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Comprehensive Coverage (Liberty Mutual)
- Coverage Information (Progressive Insurance)
- Auto Insurance 101 (About.com)