Ford Explorer Sport Trac Insurance Quotes in Albuquerque

If you want to save money, the best way to get affordable car insurance rates is to regularly compare quotes from insurance carriers in Albuquerque.

First, spend some time learning about car insurance and the things you can change to prevent expensive coverage. Many factors that result in higher prices like getting speeding tickets and poor credit history can be amended by making minor changes to your lifestyle.

Second, request price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like Progressive or Allstate, while independent agencies can provide price quotes for many different companies.

Third, compare the quotes to the price on your current policy to see if a cheaper price is available in Albuquerque. If you find a better price and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.

One important bit of advice is to use similar coverage information on every quote and and to get quotes from as many companies as feasibly possible. Doing this ensures an apples-to-apples comparison and the best price quote selection.

Amazingly, a recent NerdWallet.com study showed that a large majority of auto insurance policyholders in New Mexico have been with the same company for four years or more, and virtually 40% of consumers have never taken the time to shop around. With the average premium in America being $1,847, drivers can cut their rates by up to 46.5% a year just by comparing rates, but most undervalue the amount of savings they would get if they switched to a cheaper policy.

The method we recommend to compare insurance rates from multiple companies is to understand car insurance companies pay for the opportunity to provide you with a free rate quote. The only thing you need to do is give them rating details like how your vehicles are used, how much you drive, if you are currently licensed, and if it has an anti-theft system. Your insurance information is sent automatically to insurance companies and you will get price comparisons instantly to find the best rate.

To check rates for your Ford Explorer Sport Trac now, click here and enter your zip code.

The companies in the list below provide free quotes in New Mexico. To buy the best auto insurance in NM, we recommend you compare several of them in order to find the most competitive rates.

Ford Explorer Sport Trac coverage analysis

The rate table shown below highlights estimates of insurance premium costs for Ford Explorer Sport Trac models. Being able to understand how auto insurance policy rates are established can be valuable when making smart choices when comparing insurance rates.

Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Price estimates do not factor in the specific area where the vehicle is garaged which can lower or raise coverage rates significantly.

Where to set your deductibles

One common question asked by Albuquerque drivers is which deductibles should you choose. The following insurance rates approximate the differences in premium rates of buying low and high physical damage deductibles. The first pricing table uses a $250 physical damage deductible and the second price grid uses a $1,000 deductible.

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rate quotes do not factor in specific location which can increase or decrease coverage prices significantly.

Based on these figures, using a $250 deductible will cost you roughly $22 more each month or $264 annually averaged for all Explorer Sport Trac models than selecting the higher $1,000 deductible. Since you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you go at least 34 months between claims, you would come out ahead by going with a higher deductible. The numbers below show an example of how you can make your own decision.

One thing to be aware of is that increasing deductibles to save money results in more money out-of-pocket when you have a comprehensive or collision claim. You will want to have access to more funds in the event you have to pay the deductible for vehicle repair.

Responsible drivers pay cheaper Albuquerque insurance rates

The diagram below shows how traffic citations and at-fault claims raise Ford Explorer Sport Trac auto insurance rates for each different age category. The costs are based on a married female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.

Cost difference between full coverage and liability

The diagram below illustrates the difference between Ford Explorer Sport Trac annual premium costs with full physical damage coverage compared to only buying liability only. The premiums are based on no violations or claims, $250 deductibles, drivers are single, and no additional discounts are factored in.

Should you pay for full coverage?

There is no clear-cut formula for phasing out physical damage coverage, but there is a general convention. If the annual cost of having full coverage is more than about 10% of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let’s assume your Ford Explorer Sport Trac replacement cost is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $4,000 after paying your policy deductible. If it’s costing in excess of $400 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.

There are some circumstances where dropping physical damage coverage is not financially feasible. If you still owe a portion of the original loan, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.

Why insurance is not optional

Despite the potentially high cost of Ford Explorer Sport Trac insurance, paying for insurance is required by state law in New Mexico and it also provides benefits you may not be aware of.

• The majority of states have mandatory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability coverage in order to get the vehicle licensed. 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.
• If you have a lien on your Explorer Sport Trac, more than likely the lender will require you to buy insurance to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank will be required to insure your Ford at an extremely high rate and force you to reimburse them the higher premium.
• Insurance preserves not only your Ford but also your assets. It also can pay for medical bills incurred in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if anyone sues you for causing an accident. If mother nature or an accident damages your car, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.

The benefits of carrying adequate insurance are without a doubt worth the cost, especially if you ever need it. According to a recent study, the average American driver overpays as much as $865 each year so we recommend shopping around once a year at a minimum to help ensure money is not being wasted.

You Can Change Your Insurance Premiums

Part of the insurance buying process is learning the different types of things that aid in calculating the level of your policy premiums. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that may result in lower insurance prices.

The factors shown below are most of the major factors insurance companies consider when setting prices.

• Women tend to cost less – Statistics have proven that men are more aggressive behind the wheel. The data does not necessarily mean that females are better at driving than males. Males and females are in auto accidents in similar numbers, but the male of the species get into accidents with more damage. Not only that, but men also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly. Young men ages 16 to 20 have the highest risk to insure so it costs more to insure them.

  The diagram below visualizes the comparison of Ford Explorer Sport Trac auto insurance rates for male and female drivers. The costs are based on no violations or accidents, comprehensive and collision coverage, $100 deductibles, marital status is single, and no discounts are taken into consideration.

• Safety first – Vehicles with good safety scores tend to have better insurance rates. Safer cars protect occupants better and better occupant protection translates directly to fewer claims and cheaper rates on your policy.
• Policy add-ons may not be needed – There are a lot of add-on coverages you can purchase if you don’t pay attention. Insurance for personal injury protection, accidental death, and extra life insurance coverage are examples of these. You may think they are a good idea when buying your policy, but if you have no use for them consider taking them off your policy.
• Put fewer miles on your vehicle – The more miles you rack up on your Ford in a year’s time the more you’ll pay to insure it. Almost all companies charge to insure your cars based upon how much you drive. Vehicles that sit idle most of the time get more affordable rates than cars that get driven a lot. Improper usage on your Explorer Sport Trac is throwing money out the window. Ask your agent if your declarations sheet is rated on annual mileage, because it can save money.

Verify you’re getting every discount

Companies don’t always list every discount available in a way that’s easy to find, so the following is a list of both the well known and also the lesser-known credits that may apply to you. If you check and find you aren’t receiving every discount you qualify for, you are paying more than you should be.

• Student Discount for Driver Training – Reduce the cost of insurance for teen drivers by having them enroll in driver’s education if offered at their school.
• First Accident Forgiveness – Not necessarily a discount, but companies like Allstate, State Farm and GEICO allow you one accident before your rates go up if you are claim-free before the accident.
• Discount for Home Ownership – Just being a homeowner can earn you a little savings because owning a home is proof of financial responsibility.
• Senior Citizens – Mature drivers may be able to get a discount up to 10%.
• Air Bags and Passive Restraints – Vehicles equipped with air bags or automatic seat belts may earn rate discounts of more than 20%.
• Discounts for Multiple Vehicles – Having more than one vehicle on one policy may reduce the rate for each vehicle.
• Resident Student – Kids who are attending college and leave their car at home can be insured at a reduced rate.

As a footnote on discounts, some of the credits will not apply to the overall cost of the policy. A few only apply to specific coverage prices like liability, collision or medical payments. So even though they make it sound like you can get free auto insurance, company stockholders wouldn’t be very happy.

The chart below illustrates the difference between Ford Explorer Sport Trac car insurance costs with and without some available policy discounts. The price estimates are based on a male driver, no accidents, no driving violations, New Mexico state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, claim-free, multi-policy, homeowner, and safe-driver discounts applied.

A few of the larger companies and some of their more popular discounts are detailed below.

• Progressive policyholders can earn discounts including online signing, online quote discount, good student, continuous coverage, homeowner, and multi-policy.
• MetLife includes discounts for defensive driver, good student, good driver, claim-free, accident-free, and multi-policy.
• Mercury Insurance may offer discounts for low natural disaster claims, multi-car, anti-theft, multi-policy, annual mileage, and professional/association.
• Nationwide offers premium reductions for anti-theft, good student, accident-free, multi-policy, family plan, and business or organization.
• GEICO has discounts for air bags, emergency military deployment, driver training, good student, and defensive driver.
• AAA offers discounts for multi-policy, AAA membership discount, pay-in-full, multi-car, education and occupation, anti-theft, and good student.

If you need the cheapest Ford Explorer Sport Trac rate quotes, ask all companies you are considering which credits you are entitled to. Some of the earlier mentioned discounts might not apply everywhere. To choose insurance companies who offer cheap Ford Explorer Sport Trac insurance quotes in New Mexico, click here to view.

Local insurance agents

A small number of people just prefer to buy from a local agent and that is OK! One of the benefits of comparing insurance prices online is that you can find the best rates and still buy from a local agent.

To make it easy to find an agent, after completing this quick form, your coverage information is submitted to companies in Albuquerque that give free quotes for your insurance coverage. There is no need to contact any agents due to the fact that quote results will go to you directly. Get lower rates and a licensed agent to work with. If for some reason you want to get a rate quote from a particular provider, you would need to visit that company’s website and fill out the quote form the provide.

Selecting an company should include more criteria than just the price. Agents should be asked these questions:

• Did they already check your driving record and credit reports?
• Is there a 24/7 contact number?
• What kind of financial rating does the company have?
• Are they paid to recommend certain coverages?
• Do they feel the quoted coverages are adequate?
• Do they reduce claim amounts on high mileage vehicles?
• By raising physical damage deductibles, how much would you save?
• Do they offer rental car reimbursement?

If you want to buy auto insurance from a local Albuquerque insurance agent, you need to know there are two types of insurance agents and how they differ in how they quote coverages. Agencies in Albuquerque can either be exclusive agents or independent agents.

Exclusive Auto Insurance Agencies

Agents that choose to be exclusive can only provide pricing for a single company and some examples include Allstate and State Farm. Exclusive agents cannot place coverage with different providers so you might not find the best rates. They are well trained on their company’s products and that can be a competitive advantage.

Below are exclusive agents in Albuquerque who may provide you with price quotes.

View more agents

Independent Auto Insurance Agencies

These type of agents do not write with just one company and that is an advantage because they can write policies amongst many companies and possibly get better coverage at lower prices. If they find a cheaper price, the agent simply finds a different carrier without you having to go to a different agency. When searching for an agent, you will definitely want to check rates from independent agents for maximum quote selection.

Shown below is a list of independent insurance agencies in Albuquerque that are able to give rate quotes.

View more agents

After getting acceptable answers to all your questions as well as cheaper Explorer Sport Trac insurance quotes, you may have found a car insurance agent that can be trusted to properly service your auto insurance policy.

Keep this in mind when shopping around

Lower-priced car insurance in Albuquerque can be bought on the web and from local agencies, and you need to comparison shop both so you have a total pricing picture. Some car insurance companies do not provide rates over the internet and many times these small, regional companies sell through independent insurance agencies.

We’ve covered many ways to lower your Ford Explorer Sport Trac insurance auto insurance rates in Albuquerque. The key thing to remember is the more rate quotes you have, the better likelihood of getting affordable Ford Explorer Sport Trac insurance quotes. Consumers may even find the best auto insurance rates are with a smaller regional carrier. Some small companies may often insure only within specific states and give better rates compared to the large companies like Progressive or GEICO.

Additional information can be found at these links:

• Collision Insurance Coverage (Nationwide)
• Who Has Cheap Auto Insurance Quotes for First-time Drivers in Albuquerque? (FAQ)
• If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
• Side Impact Crash Tests (iihs.org)
• When is the Right Time to Switch Car Insurance Companies? (Allstate)