A recent study showed that nearly 70% of consumers kept their policy with the same company for well over three years, and 38% of drivers have never shopped around. The average driver in the U.S. could cut their rates by $850 a year by just comparing quotes, but they don’t believe the amount of savings they would get if they swap their current policy for a cheaper one.
The easiest way to get budget Mazda CX-7 insurance is to start comparing prices regularly from insurers who can sell car insurance in Albuquerque. Price quotes can be compared by completing these steps.
- Try to understand how companies price auto insurance and the things you can control to keep rates in check. Many things that cause high rates like accidents, traffic tickets, and a lousy credit rating can be eliminated by making small lifestyle or driving habit changes.
- Get rate quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from a single company like Progressive or State Farm, while independent agencies can provide prices for a wide range of insurance providers.
- Compare the new rates to your current policy premium to see if cheaper CX-7 coverage is available in Albuquerque. If you can save some money and switch companies, make sure coverage does not lapse between policies.
- Notify your current company of your intention to cancel your current car insurance policy. Submit the application along with any required down payment to the newly selected company. Once the application is submitted, place your new certificate verifying coverage in your vehicle’s glove compartment or console.
The most important part of shopping around is that you’ll want to make sure you compare similar coverage information on every price quote and and to get prices from as many companies as you can. Doing this helps ensure a fair rate comparison and maximum price selection.
The best way to get rate comparisons for Mazda CX-7 insurance in Albuquerque is to realize auto insurance companies actually pay money for the chance to compare their rates. To start a quote, the only thing you need to do is give them some information such as if you have an active license, if it has an anti-theft system, your general credit rating, and the make and model of your vehicles. Your information is automatically sent to multiple companies and you receive quotes within a short period of time.
To compare rates for your Mazda CX-7 now, click here and enter your zip code.
The following companies offer quotes in New Mexico. If multiple companies are listed, we suggest you visit two to three different companies in order to find the lowest rates.
Analysis of Mazda CX-7 rates
The data table shown next highlights different insurance costs for Mazda CX-7 models. Being able to understand how insurance premiums are calculated is important for making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CX-7 SV 2WD | $132 | $258 | $364 | $22 | $108 | $884 | $74 |
| CX-7 Sport 2WD | $150 | $258 | $364 | $22 | $108 | $902 | $75 |
| CX-7 Touring 2WD | $150 | $258 | $364 | $22 | $108 | $902 | $75 |
| CX-7 Touring 4WD | $150 | $304 | $364 | $22 | $108 | $948 | $79 |
| CX-7 Grand Touring 2WD | $166 | $304 | $364 | $22 | $108 | $964 | $80 |
| CX-7 Grand Touring 4WD | $166 | $304 | $364 | $22 | $108 | $964 | $80 |
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Data rating is 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 homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Premium amounts do not factor in specific location which can lower or raise price quotes substantially.
Insurance premiums for males and females
The diagram below illustrates the difference between Mazda CX-7 auto insurance rates for male and female drivers. The prices are based on a clean driving record, no at-fault accidents, full coverage, $250 deductibles, drivers are single, and no policy discounts are applied.
Liability only or full coverage
The chart below visualizes the comparison of Mazda CX-7 auto insurance costs with full physical damage coverage compared to only buying liability only. The prices are based on no accidents or driving violations, $1,000 deductibles, single status, and no discounts are applied.
When to stop buying physical damage coverage
There is no set guideline for phasing out physical damage insurance, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.
For example, let’s pretend your Mazda CX-7 replacement cost is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $2,000 after you pay the deductible. If it’s costing you more than $200 a year for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are a few cases where eliminating full coverage is not in your best interest. If you still have a loan on your vehicle, you have to maintain full coverage in order to satisfy the requirements of the loan. 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.
How to Lower Your Insurance Prices
It’s important that you understand some of the factors that help calculate the level of your policy premiums. If you have some idea of what influences your rates, this enables informed choices that could help you find better auto insurance rates. Many factors are part of the equation when you get a price on insurance. Some are obvious such as your driving history, although some other factors are more transparent like where you live or your financial responsibility.
- A policy lapse can increase rates – Driving your car without having proper coverage is illegal and any future policy may cost more because you let your insurance lapse for non-payment. Not only will rates go up, being ticketed for driving with no insurance can result in a license revocation or jail time.
- Cheaper rates after marriage – Getting married actually saves money when shopping for auto insurance. Having a significant other translates into being less irresponsible and it’s statistically proven that drivers who are married file infrequent claims.
- Advanced GPS tracking and theft deterrents – Choosing a vehicle with a theft deterrent system can earn a premium discount. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help stop your vehicle from being stolen.
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Pay more for higher performance vehicles – The type of car you are insuring makes a huge difference in the rate you pay. Lower performance four cylinder passenger models receive the most favorable rates, but the cost you end up paying is determined by many additional factors.
The following chart assumes a married female driver age 40, full coverage with $100 deductibles, and no discounts or violations. The data compares Mazda CX-7 car insurance rates compared to other models of vehicles that have different performance risks.
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Better drivers pay better costs – Only having one ticket can increase the cost of insurance to the point where it’s not affordable. Good drivers tend to pay less for car insurance than bad drivers. People who have multiple citations such as DUI, reckless driving or excessive speeding may need to file a SR-22 with their state’s department of motor vehicles in order to legally drive.
The illustration below illustrates how traffic citations and at-fault fender-benders influence Mazda CX-7 insurance prices for different categories of driver ages. The premiums assume a married female driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.
- Don’t cut corners with liability coverage – The liability section of your policy will afford coverage if you are found to be at fault for physical damage or personal injury to other. It will provide legal defense which can cost a lot. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
- Buy a safe car and pay less – Safe vehicles tend to be cheaper to insure. Safe vehicles reduce injuries and any reduction in injury severity means lower claim amounts and lower rates for you. If your Mazda has ratings of a minimum four stars on Safercar.gov you may pay a lower rate.
- Insure car and home with the same company – Many companies afford discounts to policyholders who have multiple policies with them, otherwise known as a multi-policy discount. If you currently are using one company, you may still want to check prices from other companies to ensure the best deal. It’s possible to still save even more even if you insure with multiple companies
Choosing the best CX-7 insurance in New Mexico is an important decision
Despite the high cost of buying insurance for a Mazda CX-7 in Albuquerque, car insurance may not be optional for several reasons.
- Most states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability protection 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 vehicle has a loan, most banks will have a requirement that you carry insurance to protect their interest in the vehicle. If you default on your policy, the bank or lender will purchase a policy for your Mazda at an extremely high rate and force you to reimburse them the higher premium.
- Car insurance protects your Mazda CX-7 and your assets. Insurance will also pay for many types of medical costs for yourself as well as anyone injured by you. One policy coverage, liability insurance, will also pay attorney fees if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, comprehensive and collision coverage will cover the repair costs.
The benefits of having car insurance greatly outweigh the cost, especially with large liability claims. Unknowingly, the average driver is wasting up to $750 every year so smart consumers compare quotes at every policy renewal to ensure rates are inline.
Albuquerque car insurance company ratings
Insuring your vehicle with a good quality auto insurance company can be rather challenging considering how many choices you have in New Mexico. The information listed below could help you select which car insurance companies you want to consider purchasing from.
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+
Top 10 Albuquerque Car Insurance Companies Overall
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Titan Insurance
- Progressive
- Mercury Insurance