To save the most money, the best way to get low-cost Honda Fit insurance in Albuquerque is to start comparing prices yearly from companies who sell auto insurance in New Mexico. Rate comparisons can be done by following these guidelines.
Step 1: Learn about how insurance companies determine prices and the measures you can control to lower rates. Many factors that result in higher rates like at-fault accidents, speeding tickets, and a substandard credit score can be controlled by being financially responsible and driving safely. Keep reading for additional ideas to get cheaper rates and find possible discounts that are available.
Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from one company like GEICO and State Farm, while agents who are independent can provide price quotes for a wide range of insurance providers.
Step 3: Compare the new rate quotes to your existing rates to see if cheaper Fit coverage is available in Albuquerque. If you find a lower rate and buy the policy, ensure coverage does not lapse between policies.
Step 4: Notify your company or agent of your intention to cancel your current coverage and submit the required down payment along with the signed application to your new company or agent. Once the paperwork is finalized, keep your new proof of insurance certificate in an accessible location in your vehicle.
The key aspect of shopping around is to use the same physical damage deductibles and liability limits on each quote request and to quote with all possible companies. This ensures a level playing field and a complete rate analysis.
It’s an obvious conclusion that car insurance companies don’t want you to look at other companies. Drivers who shop around for a cheaper policy will most likely switch to a new company because there are good odds of finding discount prices. Remarkably, a study showed that people who routinely shopped for cheaper coverage saved approximately $72 a month as compared to drivers who don’t regularly compare prices.
If finding the best price on Honda Fit insurance in Albuquerque is your goal, then learning a little about how to shop and compare auto insurance can help you succeed in finding affordable rates.
The companies shown below are our best choices to provide free rate quotes in Albuquerque, NM. If multiple companies are listed, we recommend you visit two to three different companies in order to find the most affordable rates.
Honda Fit insurance charts and tables
The premium table displayed below showcases different insurance premium costs for Honda Fit models. Learning how rate quotes are formulated is important for you to make smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Fit | $136 | $280 | $200 | $12 | $60 | $688 | $57 |
| Fit Sport | $156 | $280 | $200 | $12 | $60 | $708 | $59 |
| Fit Sport VSA | $156 | $330 | $200 | $12 | $60 | $758 | $63 |
| Get Your Own Custom Quote Go | |||||||
Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Rates do not factor in your specific Albuquerque location which can alter auto insurance rates substantially.
Insurance deductibles
One of the hardest decisions when shopping for insurance is at what level do you set your deductibles. The rates below show the rate differences when you choose different physical damage coverage deductibles. The first price estimate table uses a $250 deductible for comprehensive and collision coverage and the second set of rates uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Fit | $216 | $420 | $212 | $12 | $64 | $949 | $79 |
| Fit Sport | $248 | $420 | $212 | $12 | $64 | $981 | $82 |
| Fit Sport VSA | $248 | $494 | $212 | $12 | $64 | $1,055 | $88 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Fit | $176 | $338 | $212 | $12 | $64 | $802 | $67 |
| Fit Sport | $202 | $338 | $212 | $12 | $64 | $828 | $69 |
| Fit Sport VSA | $202 | $398 | $212 | $12 | $64 | $888 | $74 |
| Get Your Own Custom Quote Go | |||||||
Prices based on 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, safe-driver, homeowner, and multi-policy. Information does not factor in specific location which can alter coverage rates noticeably.
Based on the above data, using a $250 deductible costs roughly $13 more each month or $156 annually across all Honda Fit models than buying the higher $500 deductible. Since you would have to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 19 months between claim filings, you would more than likely save some money if you decide on a higher deductible.
How to calculate deductible break even point
| Average monthly premium for $250 deductibles: | $83 |
| Average monthly premium for $500 deductibles (subtract): | – $70 |
| Monthly savings from raising deductible: | $13 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $13 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 19 months |
One important caveat is that a higher deductible level results in having to pay to pay more out-of-pocket when you have a comprehensive or collision claim. It will be required that you have enough disposable savings in the event you need to pay the deductible to have repairs made.
Careless drivers pay higher rates
The information below highlights how speeding tickets and at-fault accidents increase Honda Fit insurance costs for different ages of insureds. The premium estimates are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied.
When to get advice from a local insurance agent
Many people just prefer to visit with an insurance agent and that can be a smart move Good insurance agents are very good at helping people manage risk and help you file claims. A nice benefit of getting free rate quotes online is the fact that drivers can get lower rates and also buy local. And buying from local insurance agencies is definitely important in Albuquerque.
After completing this quick form, the coverage information is emailed to local insurance agents in Albuquerque that can provide free Albuquerque auto insurance quotes for your insurance coverage. It’s much easier because you don’t need to contact an agency since rate quotes are delivered straight to your inbox. If you need to quote rates from a specific company, don’t hesitate to jump over to their website to submit a rate quote request.
If you are searching for a reputable agency, there are two different types of agencies and how they operate. Agencies in Albuquerque can be classified as either independent agents or exclusive agents. Both handle insurance, but it’s worth learning why they differ because it may have an impact on the selection process.
Independent Agents (or Brokers)
These type of agents are not restricted to one company and that allows them to write policies with any number of different companies and potentially find a lower price. If they find a lower price, your agent can switch companies which makes it simple for you. If you are comparing rate quotes, you will definitely want to include price quotes from several independent insurance agents so that you have a good selection of quotes to compare.
Below is a partial list of independent insurance agencies in Albuquerque that can possibly get you free insurance quotes.
Menicucci Insurance Llc
2116 Vista Oeste NW Bldg 5 – Albuquerque, NM 87120 – (505) 883-3683 – View Map
Berger Briggs Real Estate and Insurance Inc
4333 Pan American Fwy – Albuquerque, NM 87107 – (505) 247-0444 – View Map
Commercial West Insurance
2616 Mesilla St NE #2 – Albuquerque, NM 87110 – (505) 255-9577 – View Map
Exclusive Agents
These agents are contracted to one company like Allstate and State Farm. Exclusive agents cannot give you multiple price quotes so they really need to provide good service. Exclusive agents are very knowledgeable on their products and sales techniques which helps them sell on service rather than price.
Below are exclusive insurance agents in Albuquerque that can give you price quotes.
Beth Wells – State Farm Insurance Agent
7400 Montgomery Blvd NE #5 – Albuquerque, NM 87109 – (505) 883-3742 – View Map
Rick Buckner – State Farm Insurance Agent
9601 Sage Rd SW d – Albuquerque, NM 87121 – (505) 833-9596 – View Map
Jesse Leal – State Farm Insurance Agent
141 Eubank Blvd – Albuquerque, NM 87123 – (505) 294-8662 – View Map
Finding the right insurance agent shouldn’t rely on just the quoted price. Any agent in Albuquerque should have no problem answering these questions:
- What insurance companies do they work with in Albuquerque?
- Do they have designations such as AIC, CPCU, or CIC?
- Can glass claims be handled at your home?
- Can you contact them at any time?
- Do they get extra compensation for selling add-on coverages?
- When do they do policy reviews?
New Mexico car insurance companies
Insuring your vehicle with the top auto insurance provider can be a challenge considering how many choices drivers have in Albuquerque. The company ratings in the next section may help you decide which auto insurance companies you want to consider comparing rates from.
Top 10 Albuquerque Car Insurance Companies Overall
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Titan Insurance
- Progressive
- Mercury Insurance
Top 10 Albuquerque Car Insurance Companies by A.M. Best Rank
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- Titan Insurance – A+