The preferred way to save on auto insurance rates is to compare prices once a year from insurance carriers who sell auto insurance in Albuquerque. You can compare prices by following these steps.
- Try to learn a little about what coverages are included in your policy and the factors you can control to prevent rate increases. Many rating criteria that increase rates like accidents, traffic violations, and an unacceptable credit score can be amended by improving your driving habits or financial responsibility. Continue reading for tips to help prevent costly coverage and find missing discounts.
- Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from a single company like Progressive or State Farm, while agents who are independent can provide rate quotes for many different companies.
- Compare the price quotes to your current policy to see if cheaper 300 coverage is available in Albuquerque. If you find a lower rate quote, verify that coverage does not lapse between policies.
- Tell your current company to cancel your current car insurance policy. Submit payment along with a signed and completed policy application to your new insurance company. As soon as you can, put the new certificate of insurance in your vehicle’s glove compartment or console.
One tip to remember is to try to use the same liability limits and deductibles on each price quote and and to get rate quotes from as many carriers as you can. Doing this guarantees an accurate price comparison and the best rate selection.
A study showed that a large majority of consumers have remained with the same insurance company for over three years, and almost 40% of drivers have never shopped around. American drivers could save themselves $859 a year, but they don’t understand how simple it is to compare rate quotes online.
If you’re already insured or are shopping for new coverage, use these techniques to buy cheaper insurance without sacrificing coverage. Locating the best rates in Albuquerque can be easy if you know a few tricks. Drivers just need to use the least time-consuming way to find the lowest price from many different companies.
The companies shown below can provide comparison quotes in Albuquerque, NM. If multiple companies are listed, we suggest you visit two to three different companies to find the lowest car insurance rates.
Chrysler 300 insurance rates and statistics
The price information displayed below highlights estimates of coverage prices for Chrysler 300 models. Knowing how premiums are established helps drivers make informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $150 | $304 | $364 | $22 | $108 | $948 | $79 |
| 300 Touring Plus 4-Dr Sedan | $150 | $304 | $364 | $22 | $108 | $948 | $79 |
| 300 Touring AWD 4-Dr | $150 | $304 | $364 | $22 | $108 | $948 | $79 |
| 300 S V6 4-Dr Sedan | $150 | $304 | $364 | $22 | $108 | $948 | $79 |
| 300 Touring Signature 4-Dr Sedan | $150 | $304 | $364 | $22 | $108 | $948 | $79 |
| 300 Touring Executive 4-Dr Sedan | $150 | $304 | $364 | $22 | $108 | $948 | $79 |
| 300 Touring Signature AWD 4-Dr | $166 | $350 | $364 | $22 | $108 | $1,010 | $84 |
| 300 Limited 4-Dr Sedan | $166 | $350 | $364 | $22 | $108 | $1,010 | $84 |
| 300 C 4-Dr Sedan | $166 | $350 | $364 | $22 | $108 | $1,010 | $84 |
| 300 S V8 4-Dr Sedan | $166 | $350 | $364 | $22 | $108 | $1,010 | $84 |
| 300 Limited AWD 4-Dr | $166 | $350 | $364 | $22 | $108 | $1,010 | $84 |
| 300 C AWD 4-Dr | $166 | $350 | $364 | $22 | $108 | $1,010 | $84 |
| 300 SRT-8 4-Dr Sedan | $166 | $350 | $364 | $22 | $108 | $1,010 | $84 |
| Get Your Own Custom Quote Go | |||||||
Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Premium amounts do not factor in vehicle location which can increase or decrease premiums significantly.
Analysis of deductible levels
One of the most common car insurance questions is which deductibles should you choose. The rates shown below can help show the differences in premium rates when you buy lower versus higher physical damage deductibles. The first price estimate table uses a $100 deductible for physical damage and the second set of rates uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| 300 Touring Plus 4-Dr Sedan | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| 300 Touring AWD 4-Dr | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| 300 S V6 4-Dr Sedan | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| 300 Touring Signature 4-Dr Sedan | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| 300 Touring Executive 4-Dr Sedan | $312 | $590 | $322 | $20 | $96 | $1,365 | $114 |
| 300 Touring Signature AWD 4-Dr | $348 | $680 | $322 | $20 | $96 | $1,491 | $124 |
| 300 Limited 4-Dr Sedan | $348 | $680 | $322 | $20 | $96 | $1,491 | $124 |
| 300 C 4-Dr Sedan | $348 | $680 | $322 | $20 | $96 | $1,491 | $124 |
| 300 S V8 4-Dr Sedan | $348 | $680 | $322 | $20 | $96 | $1,491 | $124 |
| 300 Limited AWD 4-Dr | $348 | $680 | $322 | $20 | $96 | $1,491 | $124 |
| 300 C AWD 4-Dr | $348 | $680 | $322 | $20 | $96 | $1,491 | $124 |
| 300 SRT-8 4-Dr Sedan | $348 | $680 | $322 | $20 | $96 | $1,491 | $124 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| 300 Touring Plus 4-Dr Sedan | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| 300 Touring AWD 4-Dr | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| 300 S V6 4-Dr Sedan | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| 300 Touring Signature 4-Dr Sedan | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| 300 Touring Executive 4-Dr Sedan | $174 | $310 | $322 | $20 | $96 | $922 | $77 |
| 300 Touring Signature AWD 4-Dr | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| 300 Limited 4-Dr Sedan | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| 300 C 4-Dr Sedan | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| 300 S V8 4-Dr Sedan | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| 300 Limited AWD 4-Dr | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| 300 C AWD 4-Dr | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| 300 SRT-8 4-Dr Sedan | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| 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 multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Prices do not factor in your specific Albuquerque location which can raise or lower auto insurance rates significantly.
Using the premium rates above, we can conclude that using a $100 deductible could cost the average driver approximately $39 more each month or $468 a year averaged for all 300 models than selecting the higher $1,000 deductible. Because you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at a minimum 23 months between claims, you would most likely save money by selecting a higher deductible. The numbers below show an example of how we made this calculation.
| Average monthly premium for $100 deductibles: | $119 |
| Average monthly premium for $1,000 deductibles (subtract): | – $80 |
| Monthly savings from raising deductible: | $39 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $39 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
One important issue to know is that a higher deductible means you will have to pay more of your own money if you have a claim. That will force you to have some savings in the event you need to pay the higher deductible.
How accidents and violations affect rates
The information below shows how violations and accidents can increase Chrysler 300 premium costs for different categories of driver ages. Data assumes a single male driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.
Rate comparison of full coverage and liability-only
The example below shows the difference between Chrysler 300 yearly insurance costs when comparing full coverage to liability only. The premiums are based on no violations or accidents, $500 deductibles, single status, and no discounts are taken into consideration.
When to eliminate full coverage
There is no clear-cut formula for eliminating comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost minus the deductible, then it could be time to drop full coverage.
For example, let’s assume your Chrysler 300 book value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after paying your deductible. If you are paying in excess of $200 a year for physical damage coverage, then you may want to consider only buying liability coverage.
There are some circumstances where removing full coverage is not advised. If you still owe a portion of the original loan, you have to carry full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
Lower rates by qualifying for discounts
Car insurance can be pricey, but you might be missing out on some discounts that you may not even know about. Certain reductions will be credited when you quote, but some may not be applied and must be inquired about before you will receive the discount.
- Homeowners Savings – Just being a homeowner can save you money because it demonstrates responsibility.
- Onboard Data Collection – Policyholders that allow their car insurance company to analyze driving habits by using a telematic data system such as Progressive’s Snapshot and State Farm’s In-Drive could save a few bucks if they exhibit good driving behavior.
- ABS and Traction Control Discounts – Cars and trucks that have anti-lock braking systems have fewer accidents and therefore earn up to a 10% discount.
- Waiver for an Accident – This one is not really a discount per se, but some insurance companies will forgive one accident without the usual rate increase so long as you are claim-free prior to the accident.
- Driver’s Ed – Reduce the cost of insurance for teen drivers by having them successfully complete driver’s ed class as it can save substantially.
- Discounts for Multiple Vehicles – Insuring all your vehicles on one policy may reduce the rate for each vehicle.
Just know that some of the credits will not apply to your bottom line cost. Some only reduce the price of certain insurance coverages like liability and collision coverage. So when it seems like it’s possible to get free car insurance, company stockholders wouldn’t be very happy. But all discounts will definitely lower the amount you have to pay.
The diagram below illustrates the comparison of Chrysler 300 yearly insurance costs with and without discounts applied. The prices are based on a female driver, a clean driving record, no claims, New Mexico state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, homeowner, marriage, claim-free, and multi-car discounts applied.
A few popular companies and the discounts they provide are included below.
- State Farm offers discounts including multiple autos, Drive Safe & Save, anti-theft, passive restraint, good driver, student away at school, and multiple policy.
- Progressive may have discounts that include multi-policy, online quote discount, multi-vehicle, homeowner, and continuous coverage.
- Progressive offers discounts for multi-policy, homeowner, online signing, continuous coverage, and good student.
- MetLife discounts include claim-free, good driver, good student, accident-free, multi-policy, defensive driver
- Farm Bureau has savings for good student, driver training, renewal discount, multi-vehicle, and safe driver.
- GEICO includes discounts for multi-vehicle, air bags, multi-policy, driver training, anti-theft, seat belt use, and defensive driver.
- SAFECO has discounts for drive less, anti-theft, bundle discounts, teen safety rewards, and anti-lock brakes.
If you are trying to find affordable Chrysler 300 insurance quotes, ask every insurance company which discounts can lower your rates. Depending on the company, some discounts might not apply in every state. If you would like to choose from a list of providers that offer many of these discounts in Albuquerque, click here to view.
Here’s why car insurance is not optional
Despite the high cost, insurance may be required and benefits you in several ways.
- Most states have minimum liability requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance in order to be legal. 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 your Chrysler has a lienholder, more than likely the lender will stipulate that you buy insurance to protect their interest in the vehicle. If coverage lapses or is canceled, the bank may insure your Chrysler for a lot more money and force you to reimburse them much more than you were paying before.
- Insurance safeguards both your car and your assets. Insurance will also pay for most medical and hospital costs for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers legal expenses in the event you are sued. If your Chrysler gets damaged, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance are without a doubt worth the cost, particularly for liability claims. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $825 a year so it’s recommended you shop around once a year at a minimum to help ensure money is not being wasted.
It’s not one size fits all
When it comes to choosing a policy, there really is not a perfect coverage plan. Every situation is different so this has to be addressed.
For example, these questions can aid in determining if you may require specific advice.
- Does my policy cover me when driving someone else’s vehicle?
- Am I getting all the discounts available?
- What is the difference between personal and commercial auto insurance policies?
- Do I need to file an SR-22 for a DUI in New Mexico?
- If I drive on a suspended license am I covered?
- Am I covered when pulling a rental trailer?
- What does roadside assistance cover?
- Am I covered if I wreck a rental car?
- What is glass protection for?
If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to a licensed agent. If you don’t have a local agent, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can provide invaluable advice.
Comparing rates from local Albuquerque insurance agencies
Certain consumers still prefer to buy from a local agent and that is not a bad decision Licensed agents can answer important questions and help in the event of a claim. The biggest benefit of getting online price quotes is that drivers can save money and get cheap auto insurance rates but also keep your business local.
To find an agent, once you fill out this form (opens in new window), your insurance data is submitted to insurance agents in Albuquerque who will give you quotes for your coverage. There is no need to contact an agency because quoted prices will be sent to your email. If you need to compare prices from a specific company, just find their quoting web page and complete a quote there.
Selecting an insurance company requires you to look at more than just the price. Get answers to these questions too.
- Do they offer accident forgiveness?
- How would your car be valued if totaled?
- How much will you save each year by using a higher deductible?
- How are claims handled?
- Do they get extra compensation for selling add-on coverages?
- Does the quote include credit and driving reports?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Does the agent recommend any additional coverage?