Cheap Insurance for a Jeep Grand Cherokee in Albuquerque

Shockingly, a large majority of consumers have remained with the same auto insurance company for over three years, and virtually 40% of consumers have never compared quotes from other companies. New Mexico insurance shoppers could save an average of nearly 40% each year just by comparing rates, but they don’t invest the time required to shop around.

The preferred way to save money on auto insurance rates in Albuquerque is to do a yearly price comparison from insurers who sell auto insurance in New Mexico. You can compare prices by following these steps.

First, spend some time learning about coverages and the factors you can control to keep rates low. Many rating criteria that are responsible for high rates like accidents, traffic violations, and a negative credit score can be remedied by making small lifestyle or driving habit changes.

Second, get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from a single company like Progressive or Allstate, while independent agents can provide rate quotes from multiple sources. View companies

Third, compare the new rate quotes to your current policy premium to see if a cheaper price is available in Albuquerque. If you can save some money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.

Fourth, provide notification to your current agent or company of your decision to cancel your current auto insurance policy. Submit the required down payment along with the signed application to your new agent or company. Once the application is submitted, place the new certificate of insurance in an easily accessible location in your vehicle.

An important bit of advice to remember is to make sure you’re comparing the same coverage limits and deductibles on each price quote and and to get prices from as many auto insurance providers as possible. Doing this helps ensure a level playing field and the best rate selection.

To find the best car insurance rates, there are several ways to compare rate quotes from different companies. The simplest method to compare Jeep Grand Cherokee insurance prices is to get quotes online.

Getting rate quotes online is very simple and it takes the place of having to make phone calls or go to different Albuquerque agent offices. The ability to buy insurance online eliminates the middleman unless you want the professional abilities that only a licensed agent can provide. Drivers can comparison shop online but buy from a local insurance agent. Just remember that getting more free quotes increases your odds of finding better pricing. Not every company allows you to get Albuquerque Grand Cherokee insurance quotes over the internet, so it’s necessary to compare prices from those companies as well.

The companies shown below are our best choices to provide quotes in Albuquerque, NM. To buy the best auto insurance in New Mexico, we suggest you get rates from several of them in order to find the most affordable rates.

Three main reasons to buy insurance

Even though Albuquerque Grand Cherokee insurance rates can get expensive, buying insurance is not optional due to several reasons.

First, just about all states have mandatory liability insurance requirements which means state laws require a specific minimum amount of liability in order to drive the car legally. 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.

Second, if your car has a loan, almost every bank will make it a condition of the loan that you buy full coverage to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may buy a policy for your Jeep at a much higher rate and force you to pay the higher price.

Third, insurance preserves your Jeep Grand Cherokee and your assets. It will also reimburse you for medical bills that are the result of an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If your Jeep gets damaged, comprehensive and/or collision insurance will pay to have it repaired.

The benefits of having insurance definitely exceed the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is wasting up to $850 per year so compare quotes from several companies at every policy renewal to help ensure money is not being wasted.

Jeep Grand Cherokee coverage analysis

The rate table shown below highlights estimates of insurance premium costs for Jeep Grand Cherokee models. Being able to understand how auto insurance policy rates are established can be valuable when making smart choices when comparing insurance rates.

Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Price estimates do not factor in the specific area where the vehicle is garaged which can lower or raise coverage rates significantly.

Where to set your deductibles

One common question asked by Albuquerque drivers is how high should your deductibles be. The following tables may help you to understand the costs and benefits when you choose different comp and collision deductibles. The first rate table uses a $250 deductible for comp and collision and the second rate chart uses a $1,000 deductible.

Above prices assume 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, multi-policy, homeowner, and safe-driver. Rate quotes do not factor in specific location which can increase or decrease coverage prices significantly.

Based on this data, we can arrive at the conclusion that using a $250 deductible costs roughly $24 more each month or $288 each year than opting for the higher $1,000 deductible. Because you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 31 months between claim filings, you would come out ahead by going with a higher deductible.

Responsible drivers pay cheaper auto insurance rates

The diagram below shows how traffic citations and at-fault claims raise Jeep Grand Cherokee auto insurance rates for each different age category. The costs are based on a married female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.

Cost difference between full coverage and liability

The diagram below illustrates the difference between Jeep Grand Cherokee annual premium costs with full physical damage coverage compared to only buying liability only. The premiums are based on no violations or claims, $250 deductibles, drivers are single, and no additional discounts are factored in.

Should you pay for full coverage?

There is no exact formula to exclude comp and collision coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is about 10% or more of the settlement you would receive from your company, then you might consider buying liability only.

For example, let’s assume your Jeep Grand Cherokee claim settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $4,000 after paying your deductible. If you are paying over $400 a year for your policy with full coverage, then it could be time to drop full coverage.

There are a few cases where buying only liability insurance is not in your best interest. If you haven’t satisfied your loan, you have to maintain full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not remove full coverage.

Get cheaper Jeep Grand Cherokee insurance in Albuquerque with discounts

Not many people think insurance is cheap, but you may qualify for discounts that you may not even be aware of. Certain reductions will be credited when you get a quote, but less common discounts must be specifically requested in order for you to get them.

• Seat Belt Usage – Requiring all passengers to use a seat belt can save a little off the personal injury premium cost.
• Paperwork-free – Some of the larger companies give back up to $50 get Albuquerque car insurance online.
• Good Student Discount – A discount for being a good student can be rewarded with saving of up to 25%. The discount lasts up until you turn 25.
• Braking Control Discount – Cars and trucks that have steering control and anti-lock brakes prevent accidents and qualify for as much as a 10% discount.
• No Claims – Good drivers with no accidents pay much less as compared to drivers who are more careless.
• Drive Less and Save – Fewer annual miles on your Jeep could qualify for lower rates on the low mileage vehicles.
• Pay Now and Pay Less – If paying your policy premium upfront instead of monthly or quarterly installments you could save 5% or more.

Consumers should know that some credits don’t apply to your bottom line cost. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think you can get free auto insurance, insurance companies aren’t that generous.

The information below compares Jeep Grand Cherokee insurance premiums with and without discounts applied. Data assumes a male driver, no claims or violations, New Mexico state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, marriage, multi-car, multi-policy, and homeowner discounts applied.

If you would like to view insurance companies who offer insurance discounts in Albuquerque, click this link.

Insurance can be complex

When quoting and comparing coverage online or from an agent for your vehicles, there really is not a single plan that fits everyone. Everyone’s situation is unique so your insurance should reflect that
For instance, these questions might point out if you would benefit from an agent’s advice.

• I don’t drive much so do I pay less?
• Do I have any recourse if my insurance company denies a claim?
• Does my insurance cover a custom paint job?
• Am I better off with higher deductibles on my Jeep Grand Cherokee?
• I have a DUI can I still get coverage?
• Am I covered when driving a rental car?
• What is the difference between personal and commercial auto insurance policies?
• Do I need PIP (personal injury protection) coverage in New Mexico?
• Will my rates increase for filing one claim?

If it’s difficult to answer those questions then you might want to talk to an insurance agent. If you don’t have a local agent, complete this form or go to this page to view a list of companies.