It takes a little time, but the best way to find cheaper prices for Hyundai Azera insurance in Albuquerque is to compare prices annually from insurers who provide car insurance in New Mexico. You can compare rates by following these steps.
- Step 1: Try to comprehend how companies price auto insurance and the things you can control to keep rates down. Many rating criteria that are responsible for high rates like traffic violations and poor credit history can be eliminated by being financially responsible and driving safely.
- Step 2: Compare price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like GEICO and Allstate, while agents who are independent can quote rates from multiple insurance companies.
- Step 3: Compare the new quotes to your existing coverage to see if a cheaper price is available. If you find a better price and make a switch, make sure coverage does not lapse between policies.
A good tip to remember is to try to use the same amount of coverage on each quote and and to get price estimates from as many car insurance companies as possible. Doing this ensures the most accurate price comparison and the best price selection.
Unbelievably, the vast majority of consumers have bought auto insurance from the same company for a minimum of four years, and 38% of drivers have never quoted auto insurance rates at all. New Mexico consumers can save about $470 each year just by getting comparison quotes, but they underestimate how much savings they would realize if they switched to a more affordable policy.
This information will help you learn how to effectively get price quotes and also save some money in the process If you have a policy now, you stand a good chance to be able to find better prices using this strategy. But New Mexico vehicle owners must comprehend how insurance companies determine prices and take advantage of how the system works.
Score discounts to get cheaper Albuquerque car insurance quotes
Insurance can cost an arm and a leg, but companies offer discounts that can help lower your rates. Larger premium reductions will be automatically applied at the time of purchase, but some discounts are required to be specially asked for before being credited.
- Waiver for an Accident – This one is not really a discount per se, but some insurance companies allow you one accident without the usual rate increase so long as you haven’t had any claims for a set time period.
- Low Mileage – Low annual miles could be rewarded with substantially lower premium rates.
- No Accidents – Drivers who don’t have accidents have much lower rates as compared to policyholders that have many claims.
- Renewal Discounts – Some car insurance companies provide a discount for switching to them before your current expiration date. The savings is around 10%.
- Life Insurance – Not all insurance carriers offer life insurance, but some may give you a lower premium rate if you buy life insurance from them.
- Online Discount – A few larger online companies may give you up to $50 for buying a policy and signing up on your computer.
- Own a Home and Save – Just being a homeowner may trigger a policy discount on car insurance because it requires personal responsibility.
A little note about advertised discounts, most discounts do not apply to all coverage premiums. Some only reduce the price of certain insurance coverages like liability and collision coverage. Even though it appears you can get free auto insurance, companies don’t profit that way.
The information below visualizes the comparison of Hyundai Azera annual premium costs with and without some available policy discounts. The information is based on a male driver, no claims, a clean driving record, New Mexico state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, marriage, homeowner, multi-policy, and multi-car discounts applied.
Larger car insurance companies and some of their more popular discounts are outlined below.
- State Farm has discounts for good driver, passive restraint, good student, anti-theft, multiple autos, and multiple policy.
- Nationwide discounts include multi-policy, good student, business or organization, accident-free, and defensive driving.
- GEICO may have discounts that include multi-vehicle, driver training, membership and employees, air bags, seat belt use, and defensive driver.
- AAA may include discounts for good driver, good student, multi-car, anti-theft, pay-in-full, and education and occupation.
- 21st Century includes discounts for theft prevention, automatic seat belts, anti-lock brakes, good student, and student driver.
- The Hartford offers premium reductions for vehicle fuel type, driver training, defensive driver, anti-theft, air bag, and bundle.
When quoting, ask each company what discounts are available to you. Depending on the company, some discounts may not be offered in Albuquerque.
Keep in mind that comparing more quotes increases the chance that you will find better pricing. Not every company allows you to get online rate quotes, so it’s necessary to compare price quotes from them as well.
The following companies are ready to provide free quotes in New Mexico. In order to find cheap auto insurance in Albuquerque, NM, it’s highly recommended you compare several of them to find the lowest auto insurance rates.
Hyundai Azera insurance statistics and information
The information below outlines detailed analysis of coverage prices for Hyundai Azera models. Understanding how auto insurance policy rates are formulated is important for making smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Azera GLS 4-Dr Sedan | $278 | $590 | $322 | $20 | $96 | $1,306 | $109 |
| Azera Limited 4-Dr Sedan | $312 | $590 | $322 | $20 | $96 | $1,340 | $112 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Table data does not factor in the specific area where the vehicle is garaged which can lower or raise insurance rates considerably.
Policy deductibles
One of the hardest decisions when shopping for auto insurance is how high should the physical damage coverage deductibles be. The data tables below can help you visualize the rate difference between high and low physical damage coverage deductibles. The first rate estimation uses a $100 deductible and the second data table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Azera GLS 4-Dr Sedan | $278 | $590 | $322 | $20 | $96 | $1,331 | $111 |
| Azera Limited 4-Dr Sedan | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Azera GLS 4-Dr Sedan | $154 | $310 | $322 | $20 | $96 | $902 | $75 |
| Azera Limited 4-Dr Sedan | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Rate quotes do not factor in specific zip code location which can revise coverage rates significantly.
We can derive from the above data that using a $100 deductible costs an average of $37 more each month or $444 for a full year averaged for all Azera models than selecting the higher $1,000 deductible. Since you would have to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you normally average at a minimum 24 months between claims, you would probably save some money going with the higher deductible.
How to calculate when to raise deductibles
| Average monthly premium for $100 deductibles: | $113 |
| Average monthly premium for $1,000 deductibles (subtract): | – $76 |
| Monthly savings from raising deductible: | $37 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $37 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 24 months |
One important issue to know is that raising deductibles means you will have to pay more out-of-pocket if you have a claim. It will be required that you have some money saved in the event you have to pay the higher deductible.
Insurance Cost Influencing Factors
A large part of saving on car insurance is knowing the rating factors that go into determining your premiums. When you know what positively or negatively determines premiums, this enables informed choices that could help you find big savings.
- Don’t abuse car insurance claims – Companies in New Mexico award better rates to drivers who do not rely on their insurance for small claims. If you’re an insured who likes to file claims you can definitely plan on higher premiums or even policy non-renewal. Your insurance policy is designed for claims that you cannot pay yourself.
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Type of car, truck or SUV determines base premiums – The make and model of the car you need insurance for makes a substantial difference in how high your rates are. The lowest premiums tend to be for the lowest performance passenger cars, but other factors influence the final cost greatly.
The data below is based on a married female driver age 30, full coverage with $100 deductibles, and no discounts or violations. It compares Hyundai Azera insurance premiums compared to other models that have a range of performance rating factors.
- Credit history impacts prices – Credit score is likely to be a major factor in determining what you pay. So if your credit is not that good, you could be paying less to insure your Hyundai Azera by taking the time to improve your credit score. Drivers who have excellent credit tend to file fewer claims than those with lower credit ratings.
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Cautious drivers pay less – Drivers who don’t get tickets tend to pay less for car insurance than bad drivers. Even a single speeding ticket may increase your cost by as much as twenty percent. Drivers who have dangerous citations like hit and run, DWI or reckless driving convictions may find they need to complete a SR-22 with their state motor vehicle department in order to prevent a license revocation.
The information below illustrates how speeding tickets and accidents can drive up Hyundai Azera insurance premiums for each age group. The rate quotes are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
- Your job may affect prices – Do you have a high-stress occupation? Careers like fire fighters, social workers, and stock brokers are shown to have the highest rates because of job stress and incredibly demanding work hours. On the flip side, careers like farmers, historians and retirees have lower than average premiums.
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Insurance loss probability for a Hyundai Azera – Auto insurance companies factor in historical loss data to help determine costs. Vehicles that are shown to have higher frequency or amount of claims will have a higher cost to insure.
The next table illustrates the loss history for Hyundai Azera vehicles. For each coverage category, the statistical loss for all vehicles, regardless of make, model or trim level, is equal to 100. Numbers shown that are under 100 indicate a favorable loss history, while values that are above 100 show a trend for more claims or a tendency for losses to be larger than average.
Auto Insurance Loss Data for Hyundai Azera Models Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Azera 115 83 101 99 106 91 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Do I just need basic coverages?
When it comes to coverage, there really isn’t a single plan that fits everyone. Your financial needs are unique so your insurance should reflect that These are some specific questions can help discover if your situation might need an agent’s assistance.
- Will damage be repaired with OEM parts?
- Will my rates increase for filing one claim?
- What is the rate difference between pleasure use and commuting?
- Are all vehicle passengers covered by medical payments coverage?
- Do I have any recourse if my insurance company denies a claim?
- How much coverage applies to personal belongings?
- I have health insurance so do I need medical payments coverage?
- When does my teenage driver need to be added to my policy?
- Where can I get insurance after a DUI in New Mexico?
- What is an SR-22 filing?
If you’re not sure about those questions but you know they apply to you, you may need to chat with an insurance agent. If you don’t have a local agent, take a second and complete this form or go to this page to view a list of companies.
When to get advice from a local insurance agent
A lot of people still like to get advice from a local agent and that is just fine! The best thing about comparing insurance prices online is the fact that you can find the lowest rates but still work with a licensed agent. Buying from and supporting local agencies is still important in Albuquerque.
After completing this quick form, your coverage information is emailed to participating agents in Albuquerque that can give you free Albuquerque car insurance quotes to get your business. It simplifies rate comparisons since you won’t have to find an agent because quoted prices will be sent immediately to your email address. You can most likely find cheaper rates AND a local agent. If you want to quote rates from one company in particular, just visit that company’s website and submit a quote form there.
If you’re trying to find a good insurance agency, it can be helpful to understand the different types of agents to choose from. Auto insurance policy providers can be categorized as either independent or exclusive.
Independent Agencies or Brokers
These agents often have affiliation with several companies so they can write business with a variety of different insurance companies and get you the best rates possible. If you want to switch companies, your agent can switch companies which makes it simple for you.
If you need lower rates, we recommend you get some free quotes from several independent insurance agents in order to have the best price comparison. Most independent agents also contract with small regional insurance companies which may provide better rates.
Listed below is a list of independent agencies in Albuquerque who can help you get free price quotes.
- Menicucci Insurance Llc
2116 Vista Oeste NW Bldg 5 – Albuquerque, NM 87120 – (505) 883-3683 – View Map - Cress Insurance
6101 Moon St NE #1000 – Albuquerque, NM 87111 – (505) 822-8114 – View Map - Berger Briggs Real Estate and Insurance Inc
4333 Pan American Fwy – Albuquerque, NM 87107 – (505) 247-0444 – View Map
Exclusive Auto Insurance Agencies
Agents in the exclusive channel generally can only insure with one company and examples are Allstate, Farmers Insurance or State Farm. Exclusive agents cannot shop your coverage around so they have no alternatives for high prices. These agents are well trained in insurance sales which helps them sell insurance even at higher premiums. A lot of people buy from the same agent for years partially due to the prominent brand name rather than low price.
Shown below are exclusive insurance agencies in Albuquerque who can help you get price quote information.
- Rick Buckner – State Farm Insurance Agent
9601 Sage Rd SW d – Albuquerque, NM 87121 – (505) 833-9596 – View Map - Paul Whitson – State Farm Insurance Agent
8300 Carmel Ave NE #502 – Albuquerque, NM 87122 – (505) 888-1991 – View Map - Phil Pettit – State Farm Insurance Agent
3507 Wyoming Blvd NE B – Albuquerque, NM 87111 – (505) 875-1300 – View Map
Finding the right insurance agency requires more thought than just the price. Any agent in Albuquerque should be forthright in answering these questions:
- What are their preferred companies if they are an independent agency?
- How many years have they been established?
- Do they have 24-hour customer assistance?
- Do they regularly work with personal auto policies in Albuquerque?
- Which insurance company do they prefer to write with?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Do they have any clout with companies to ensure a fair claim settlement?
Why you need to buy auto insurance
Even though it’s not necessarily cheap to insure a Hyundai in Albuquerque, maintaining insurance may be required and benefits you in several ways.
- Just about all states have compulsory liability insurance requirements which means you are required to buy a specific minimum amount of liability in order to drive the car. 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 vehicle, most banks will make it mandatory that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank or lender will purchase a policy for your Hyundai at a significantly higher premium and force you to pay for it.
- Auto insurance protects both your car and your personal assets. Insurance will also pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. Liability coverage will also pay attorney fees in the event you are sued. If your vehicle suffers damage from an accident or hail, your policy will pay to repair the damage.
The benefits of having insurance are definitely more than the cost, particularly if you ever have a claim. On average, a vehicle owner in Albuquerque is overpaying over $800 each year so shop around once a year at a minimum to make sure the price is not too high.
Cheap auto insurance rates are available
In this article, we presented a lot of information how to save on Hyundai Azera insurance in Albuquerque. It’s most important to understand that the more quotes you get, the better your chances of lowering your car insurance rates. Consumers could even find that the lowest priced auto insurance comes from some of the smallest insurance companies. They can often provide lower car insurance rates in certain areas than their larger competitors like State Farm and Allstate.
Budget-conscious Hyundai Azera insurance can be purchased on the web and with local Albuquerque insurance agents, and you should compare price quotes from both to have the best selection. Some companies may not offer rates over the internet and most of the time these small insurance companies prefer to sell through independent insurance agents.
More learning opportunities
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Who Has Affordable Auto Insurance for 16 Year Olds in Albuquerque? (FAQ)
- Who Has Cheap Albuquerque Auto Insurance Rates for Drivers with Accidents? (FAQ)
- What Insurance is Cheapest for a Ford Fusion in Albuquerque? (FAQ)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Avoiding Deer Collisions (Insurance Information Institute)