Best GMC Sierra 2500HD Insurance in Albuquerque

Remarkably, a study showed that almost 70% of drivers have purchased from the same company for over three years, and virtually 40% of consumers have never taken the time to shop around. Albuquerque consumers could save $474 every year just by getting comparison quotes, but they assume it’s a waste of time to find cheaper auto insurance rates.

To save the most money, the best way to get more affordable car insurance rates in Albuquerque is to regularly compare quotes from insurers in New Mexico.

1. Get an understanding of coverages and the things you can control to prevent expensive coverage. Many factors that result in higher rates such as high-risk driving behaviors and a negative credit history can be improved by improving your driving habits or financial responsibility. Read the full article for tips to get affordable coverage and get discounts that may be overlooked.
2. Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from a single company like Progressive or Farmers Insurance, while independent agents can quote rates from multiple companies.
3. Compare the new rate quotes to your current policy to see if switching to a new carrier will save money. If you find a better price and buy the policy, ensure there is no coverage lapse between policies.
4. Provide proper notification to your current company to cancel your current coverage and submit any necessary down payment along with the completed application to the new company. Make sure you safely store the proof of insurance certificate in your vehicle’s glove compartment or console.

An essential thing to point out is to compare the same coverage limits and deductibles on every quote and and to get rates from as many companies as you can. Doing this helps ensure the most accurate price comparison and a better comparison of the market.

The most recommended method to compare insurance rates in your area is to know auto insurance companies allow for online access to quote your coverage. All consumers are required to do is provide information like whether you are single or married, any included safety features, whether your vehicle is owned or leased, and if your license is active. Your information is then submitted to many of the top insurers and they return quotes immediately.

To get price quotes for your GMC Sierra 2500HD now, click here and complete the form.

The following companies offer comparison quotes in Albuquerque, NM. If multiple companies are listed, we suggest you compare several of them in order to find the most affordable rates.

Insurance protects more than just your car

Despite the high cost, paying for insurance is mandatory in New Mexico but it also protects more than you think.

• Most states have minimum liability requirements which means it is punishable by state law to not carry specific minimum amounts of liability insurance if you don’t want to risk a ticket. 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 loan on your vehicle, almost every bank will require that you have insurance to ensure loan repayment if the vehicle is totaled. If you default on your policy, the lender will be forced to insure your GMC at an extremely high rate and force you to pay for the much more expensive policy.
• Insurance safeguards both your GMC and your assets. Insurance will pay for medical expenses for not only you but also any passengers injured in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.

The benefits of insuring your Sierra 2500HD more than offset the price you pay, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver is wasting up to $800 each year so smart consumers compare quotes once a year at a minimum to save money.

Coverage analysis

The premium table shown below covers a range of insurance costs for GMC Sierra 2500HD models. Having a good grasp of how auto insurance premiums are determined can benefit drivers when making smart choices when buying a policy.

Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Rates do not factor in your specific Albuquerque location which can change coverage prices noticeably.

Rate comparison for different deductibles

A question often asked by Albuquerque drivers is how high should the physical damage deductibles be. The following insurance rates sum up the premium difference when you choose different deductibles. The first data table uses a $100 deductible and the second data table uses a $1,000 deductible.

Premium 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, multi-policy, safe-driver, claim-free, and homeowner. Rate quotes do not factor in specific location information which can alter premiums considerably.

Based on this data, using a $100 deductible will cost you approximately $39 more each month or $468 for a full year averaged for all Sierra 2500HD models than requesting the higher $1,000 deductible. Because you would be required to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you usually have more than 23 months between claims, you would come out ahead if you choose a higher deductible.

The chart below illustrates how choosing a deductible and can impact GMC Sierra 2500HD insurance costs for different ages of insureds. The premiums assume a single female driver, full physical damage coverage, and no discounts are factored in.

Violations and accidents raise rates

The illustration below illustrates how violations and accidents can impact GMC Sierra 2500HD auto insurance rates for different ages of insureds. The data assumes a single male driver, full coverage, $100 deductibles, and no additional discounts are factored in.

Annual premiums for males versus females in Albuquerque

The illustration below illustrates the difference between GMC Sierra 2500HD insurance costs for male and female drivers. The premiums assume no tickets, no at-fault accidents, full physical damage coverage, $1,000 deductibles, marital status is single, and no policy discounts are applied.

Rate difference between full and liability-only coverage

The chart below compares GMC Sierra 2500HD premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data assumes a clean driving record, no claims, $100 deductibles, single marital status, and no discounts are taken into consideration.

When to stop paying for full coverage

There is no definitive guideline for excluding physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

For example, let’s assume your GMC Sierra 2500HD book value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $5,000 after paying your policy deductible. If you are paying in excess of $500 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are a few situations where buying only liability insurance is not advised. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. 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.

Take these six policy discounts and save on GMC Sierra 2500HD insurance in Albuquerque

Companies don’t always list all their discounts in a way that’s easy to find, so the below list has both well-publicized as well as the least known auto insurance savings. If they aren’t giving you every credit available, it’s possible you qualify for a lower rate.

• Payment Discounts – If paying your policy premium upfront rather than spreading payments over time you can avoid monthly service charges.
• Theft Deterrent – Cars, trucks, and SUVs with anti-theft systems help deter theft and can earn a small discount on your policy.
• Employee of Federal Government – Active or former government employment may qualify for a discount when you quote Albuquerque car insurance with a few auto insurance companies.
• Homeowners Savings – Just being a homeowner can save you money since home ownership shows financial diligence.
• Safety Course Discount – Successfully completing a defensive driving course may get you a small discount if you qualify.
• Military Discounts – Having an actively deployed family member could mean lower rates.

A little note about advertised discounts, many deductions do not apply to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like comp or med pay. If you do the math and it seems like you could get a free auto insurance policy, nobody gets a free ride.

The diagram below visualizes the comparison of GMC Sierra 2500HD insurance premiums with and without discounts applied to the premium. The data assumes a male driver, no violations or accidents, New Mexico state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, multi-car, multi-policy, safe-driver, and claim-free discounts applied.

The best auto insurance companies and a partial list of their discounts can be read below.

• GEICO has discounts for federal employee, membership and employees, anti-theft, multi-policy, and five-year accident-free.
• Travelers discounts include IntelliDrive, hybrid/electric vehicle, good student, continuous insurance, multi-car, payment discounts, and student away at school.
• Farm Bureau includes discounts for multi-vehicle, driver training, 55 and retired, multi-policy, renewal discount, safe driver, and youthful driver.
• Liberty Mutual has savings for newly married, hybrid vehicle, safety features, good student, preferred payment discount, multi-car, and newly retired.
• American Family policyholders can earn discounts including early bird, air bags, accident-free, bundled insurance, and mySafetyValet.
• Progressive may offer discounts for multi-policy, online signing, good student, homeowner, online quote discount, and continuous coverage.

Check with all companies you are considering which discounts can lower your rates. Some discounts might not be offered in every state. To choose providers who offer auto insurance discounts in New Mexico, click here.

It’s not one size fits all

When quoting and choosing proper insurance coverage, there really isn’t a one-size-fits-all type of policy. Your needs are unique to you and your policy should reflect that.
For instance, these questions can help discover whether or not you might need an agent’s assistance.

• Does medical payments coverage apply to all occupants?
• Am I covered when renting a car or should I buy coverage from the car rental agency?
• Am I covered if I crash into my own garage door?
• Does coverage follow the driver or the vehicle?
• Do I need motorclub coverage?
• How much can I save by bundling my policies?

If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of auto insurance companies in your area. It’s fast, free and you can get the answers you need.