Would you like an easy way to compare the cheapest Mitsubishi Lancer insurance in Albuquerque? Searching for better insurance prices for your Mitsubishi Lancer in New Mexico can turn out to be difficult, but you can learn the following methods to save time. There are more efficient ways to shop for car insurance so we’re going to tell you the best way to get price quotes on a Mitsubishi and find the lowest possible price from both online companies and Albuquerque agents.
Discounts can help to save on Mitsubishi Lancer insurance in Albuquerque
Some companies don’t necessarily list the entire discount list in a way that’s easy to find, so below is a list both well-publicized and also the more inconspicuous discounts that you may qualify for.
- New Vehicle Savings – Buying a new car instead of a used Lancer is cheaper since newer models have better safety ratings.
- Paperless Signup – Many companies will give you a small discount for buying your policy digitally online.
- Good Grades Discount – Getting good grades can earn a discount of 20% or more. Most companies allow this discount up to age 25.
- Multi-Vehicle Discounts – Buying coverage for multiple cars with one company qualifies for this discount.
- Drivers Ed for Students – Have your child enroll in driver’s education in high school.
- Discount for Life Insurance – Select insurance companies reward you with a discount if you purchase some life insurance too.
- Driver Training Discounts – Taking time to complete a defensive driving class can save you 5% or more and make you a better driver.
As a sidenote, most discount credits are not given to the entire cost. Most only reduce the cost of specific coverages such as comp or med pay. So even though it sounds like you could get a free insurance policy, company stockholders wouldn’t be very happy.
The information below illustrates the comparison of Mitsubishi Lancer annual premium costs with and without some available policy discounts. The price estimates are based on a male driver, no violations or accidents, New Mexico state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, multi-car, homeowner, claim-free, and marriage discounts applied.
To choose insurance companies that can offer you the previously mentioned discounts in New Mexico, click here to view.
The companies shown below provide comparison quotes in New Mexico. To find the best cheap car insurance in New Mexico, we suggest you visit as many as you can to find the most competitive car insurance rates.
Coverage information
The premium information displayed next highlights a range of prices for Mitsubishi Lancer models. Being aware of how policy premiums are determined is important for making informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $270 | $608 | $364 | $22 | $108 | $1,372 | $114 |
| Lancer ES | $270 | $608 | $364 | $22 | $108 | $1,372 | $114 |
| Lancer GTS | $300 | $700 | $364 | $22 | $108 | $1,494 | $125 |
| Lancer Sportback GTS | $300 | $700 | $364 | $22 | $108 | $1,494 | $125 |
| Lancer RALLIART | $330 | $792 | $364 | $22 | $108 | $1,616 | $135 |
| Lancer Sportback Ralliart | $330 | $792 | $364 | $22 | $108 | $1,616 | $135 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Premium costs do not factor in garaging location in Albuquerque which can raise or lower premium rates noticeably.
Higher deductibles lower rates
When shopping for insurance, a common question is where should you set your physical damage deductibles. The comparisons below approximate how much more rates are between high and low physical damage coverage deductibles. The first set of rates uses a $250 deductible for comprehensive and collision coverage and the second rate chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $280 | $494 | $322 | $20 | $96 | $1,237 | $103 |
| Lancer ES | $280 | $494 | $322 | $20 | $96 | $1,237 | $103 |
| Lancer GTS | $314 | $570 | $322 | $20 | $96 | $1,347 | $112 |
| Lancer Sportback GTS | $314 | $570 | $322 | $20 | $96 | $1,347 | $112 |
| Lancer RALLIART | $346 | $644 | $322 | $20 | $96 | $1,453 | $121 |
| Lancer Sportback Ralliart | $346 | $644 | $322 | $20 | $96 | $1,453 | $121 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $228 | $398 | $322 | $20 | $96 | $1,064 | $89 |
| Lancer ES | $228 | $398 | $322 | $20 | $96 | $1,064 | $89 |
| Lancer GTS | $254 | $458 | $322 | $20 | $96 | $1,150 | $96 |
| Lancer Sportback GTS | $254 | $458 | $322 | $20 | $96 | $1,150 | $96 |
| Lancer RALLIART | $280 | $520 | $322 | $20 | $96 | $1,238 | $103 |
| Lancer Sportback Ralliart | $280 | $520 | $322 | $20 | $96 | $1,238 | $103 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Rate information does not factor in specific Albuquerque garaging location which can increase or decrease price quotes considerably.
Based on this data, we can arrive at the conclusion that using a $250 deductible costs approximately $16 more each month or $192 each year than selecting the higher $500 deductible. Because you would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 16 months between claim filings, you would save more money if you choose the higher deductible.
Mitsubishi Lancer insurance rates by gender in Albuquerque
The information below visualizes the comparison of Mitsubishi Lancer insurance costs for male and female drivers. The information is based on no claims, a clean driving record, full physical damage coverage, $100 deductibles, single marital status, and no other discounts are factored in.
Rate difference between full and liability-only coverage
The illustration below compares Mitsubishi Lancer auto insurance rates when comparing full coverage to liability only. The price estimates are based on a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no other discounts are factored in.
When to drop comp and collision
There isn’t a steadfast formula to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s say your Mitsubishi Lancer replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $4,000 after paying your policy deductible. If premium cost is more than $400 a year for your policy with full coverage, then you may need to consider dropping full coverage.
There are a few cases where only buying liability is not in your best interest. If you still have a loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not buy liability only.
Do I need an agent?
Many drivers prefer to buy from a licensed agent and doing that can be a smart decision Good insurance agents are very good at helping people manage risk and help in the event of a claim. The biggest benefit of comparing car insurance online is that drivers can save money and get cheap rate quotes and also buy local.
By using this quick form, the quote information is immediately sent to participating agents in Albuquerque who can give free rate quotes for your car insurance coverage. You never need to leave your house due to the fact that quote results will go instantly to you. If you want to get a rate quote from a specific car insurance provider, feel free to jump over to their website and complete a quote there.
Finding the right insurance company should include more criteria than just a cheap quote. You should also get answers to these questions.
- Is the quote a firm price?
- Do the companies they represent have a solid financial rating?
- Is there a Errors and Omissions policy in force?
- Do they offer accident forgiveness?
- Are there any discounts that you might be missing?
If you’re trying to find a local insurance agency, it’s helpful to know the different agency structures and how they work. Agencies in Albuquerque may be either independent agents or exclusive agents depending on their employer. Either one can write car insurance policies, but it is important to understand why they differ because it can influence your agent selection.
Exclusive Car Insurance Agents
Agents that choose to be exclusive write business for a single company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. Exclusive agents are unable to compare other company’s rates so if the price isn’t competitive there isn’t much they can do. Exclusive insurance agents are usually quite knowledgeable on their company’s products which can be an advantage. Consumers sometimes buy from exclusive agents mainly due to the brand rather than low price.
Below is a short list of exclusive insurance agents in Albuquerque that can give you comparison quotes.
- Cynthia Bahling – State Farm Insurance Agent
12700 San Rafael Ave NE #2 – Albuquerque, NM 87122 – (505) 292-3934 – View Map - Cindy Maxwell – State Farm Insurance Agent
8244 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 883-9000 – View Map - Matt Medina – State Farm Insurance Agent
4253 Montgomery Blvd NE g205 – Albuquerque, NM 87109 – (505) 881-8100 – View Map
Independent Agencies or Brokers
Agents of this type do not sell for just one brand and that is an advantage because they can write policies with multiple insurance companies depending on which coverage is best. If they find a lower price, your agent can switch companies and the insured can keep the same agent. If you are trying to find cheaper rates, we highly recommend that you get quotes from at a minimum one independent agency to have the best price comparison. Most can insure with lesser-known insurance companies that may provide cheaper car insurance rates.
Below is a list of independent insurance agencies in Albuquerque willing to provide price quote information.
- Commercial West Insurance
2616 Mesilla St NE #2 – Albuquerque, NM 87110 – (505) 255-9577 – View Map - Sunset Insurance Corporation
1905 San Mateo Blvd NE – Albuquerque, NM 87110 – (505) 247-2578 – View Map - Menicucci Insurance Llc
2116 Vista Oeste NW Bldg 5 – Albuquerque, NM 87120 – (505) 883-3683 – View Map
Albuquerque car insurance companies
Buying coverage from a high-quality car insurance provider is difficult considering how many different companies there are to choose from in New Mexico. The ranking information below may help you pick which auto insurers to look at comparing rate quotes with.
Top 10 Albuquerque Car Insurance Companies Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- 21st Century – 88%
- Liberty Mutual – 88%
- Allstate – 88%
Top 10 Albuquerque Car Insurance Companies Ranked by Customer Service
- GEICO
- State Farm
- The Hartford
- Mercury Insurance
- The General
- Progressive
- Allstate
- AAA Insurance
- American Family
- Nationwide
Cheap auto insurance rates are out there
As you prepare to switch companies, you should never buy poor coverage just to save money. Too many times, an accident victim reduced physical damage coverage and found out when filing a claim they didn’t purchase enough coverage. The goal is to purchase plenty of coverage at an affordable rate, not the least amount of coverage.
Lower-priced auto insurance in Albuquerque is definitely available both online in addition to local insurance agencies, and you should compare price quotes from both to get a complete price analysis. Some companies may not have the ability to get a quote online and these smaller companies work with independent agencies.
We just showed you some good ideas how to get a better price on Mitsubishi Lancer insurance in Albuquerque. The key thing to remember is the more times you quote, the better chance you’ll have of finding affordable Albuquerque car insurance quotes. You may even find the lowest prices come from some of the smallest insurance companies.
Steps to buying low-cost Mitsubishi Lancer insurance in Albuquerque
If you want to find the absolute lowest rates, then the best way to get discount Mitsubishi Lancer insurance is to compare prices annually from providers who can sell car insurance in Albuquerque.
Step 1: Take a little time to learn about how companies set rates and the things you can change to keep rates low. Many rating criteria that cause rate increases such as getting speeding tickets and a less-than-favorable credit history can be remedied by making minor changes in your lifestyle.
Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from one company like Progressive or Allstate, while agents who are independent can provide rate quotes for a wide range of insurance providers.
Step 3: Compare the new quotes to the price on your current policy and determine if cheaper Lancer coverage is available in Albuquerque. If you find a better price and buy the policy, make sure there is no lapse in coverage.
Step 4: Tell your current company of your intention to cancel your current policy. Submit payment and a completed application for your new policy. As soon as you receive it, place the new proof of insurance certificate in an easily accessible location.
The critical component of shopping around is to compare identical coverage information on each price quote and to quote with as many different insurance providers as possible. This helps ensure the most accurate price comparison and a complete rate analysis.
To read more, take a look at the following helpful articles:
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- Who Has Cheap Car Insurance Rates for 4×4 Vehicles in Albuquerque? (FAQ)
- How Much are Albuquerque Auto Insurance Rates for Unemployed Drivers? (FAQ)
- Who Has the Cheapest Albuquerque Car Insurance for a Ford Explorer? (FAQ)
- What Insurance is Cheapest for a Hyundai Elantra in Albuquerque? (FAQ)
- Eight Auto Insurance Myths (Insurance Information Institute)
- Auto Theft Statistics (Insurance Information Institute)