The most effective way to find discount Lincoln Navigator insurance in Albuquerque is to do a yearly price comparison from providers that insure vehicles in New Mexico. Price quotes can be compared by following these guidelines.
- Take a few minutes and learn about auto insurance and the changes you can make to prevent high rates. Many factors that cause rate increases like getting speeding tickets and a substandard credit history can be eliminated by making minor changes in your lifestyle. This article gives additional ideas to help prevent high rates and find overlooked discounts.
- Compare price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like GEICO or Allstate, while independent agencies can quote rates for a wide range of companies. Get quotes now
- Compare the price quotes to your current policy premium to see if you can save by switching companies. If you find better rates and decide to switch, make sure there is no coverage gap between policies.
An important part of this process is to try to compare similar coverage information on every price quote and and to get rate quotes from as many companies as possible. Doing this enables an accurate price comparison and maximum price selection.
It’s a fact that insurance companies don’t want policyholders to compare prices from other companies. Drivers who shop rates annually will most likely buy a different policy because of the high probability of finding a lower-cost company. A recent survey discovered that people who did price comparisons regularly saved over $72 a month as compared to drivers who don’t make a habit of comparing rates.
If finding the best price on insurance in Albuquerque is your target objective, learning how to quote and compare insurance rates can save time and money.
When quoting car insurance, remember that comparing a wide range of rates gives you a better chance of getting a lower rate than you’re paying now. Not every company does online Albuquerque Navigator insurance quotes, so it’s necessary to compare prices from the smaller companies as well.
The companies in the list below offer price comparisons in New Mexico. To buy cheap auto insurance in Albuquerque, it’s a good idea that you visit as many as you can in order to find the cheapest rates.
Rates and other information
The table shown next showcases a range of policy rates for Lincoln Navigator models. Being able to understand how rates are determined is important for you to make informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Navigator 2WD | $250 | $528 | $390 | $24 | $116 | $1,308 | $109 |
| Navigator 4WD | $250 | $528 | $390 | $24 | $116 | $1,308 | $109 |
| Navigator L 2WD | $274 | $528 | $390 | $24 | $116 | $1,332 | $111 |
| Navigator L 4WD | $274 | $528 | $390 | $24 | $116 | $1,332 | $111 |
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Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Estimates do not factor in vehicle garaging location which can increase or decrease premium rates substantially.
Analysis of deductible levels
The hardest decision when buying coverage is where to set your physical damage deductibles. The tables below may help to conceptualize the rate difference when you choose different comp and collision deductibles. The first set of prices uses a $250 physical damage coverage deductible and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Navigator 2WD | $314 | $570 | $322 | $20 | $96 | $1,347 | $112 |
| Navigator 4WD | $314 | $570 | $322 | $20 | $96 | $1,347 | $112 |
| Navigator L 2WD | $346 | $570 | $322 | $20 | $96 | $1,379 | $115 |
| Navigator L 4WD | $346 | $570 | $322 | $20 | $96 | $1,379 | $115 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Navigator 2WD | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| Navigator 4WD | $194 | $358 | $322 | $20 | $96 | $990 | $83 |
| Navigator L 2WD | $214 | $358 | $322 | $20 | $96 | $1,010 | $84 |
| Navigator L 4WD | $214 | $358 | $322 | $20 | $96 | $1,010 | $84 |
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Rate quotes do not factor in the specific area where the vehicle is garaged which can modify prices substantially.
Based on this data, we can arrive at the conclusion that using a $250 deductible will cost in the ballpark of $30 more each month or $360 annually than quoting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you go at least 25 months between claims, you would save more money by going with a higher deductible.
Does full coverage make sense?
The diagram below compares Lincoln Navigator auto insurance costs with full physical damage coverage compared to only buying liability only. The rates are based on no accidents, no driving violations, $500 deductibles, single marital status, and no additional discounts are factored in.
When to switch to liability coverage only
There is no definitive rule to stop paying for physical damage coverage on your policy, but there is a general guideline. If the annual cost of coverage is 10% or more of replacement cost minus your deductible, then you might consider buying liability only.
For example, let’s pretend your Lincoln Navigator book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $2,000 after paying your deductible. If premiums are more than $200 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are a few situations where dropping physical damage coverage is not recommended. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should maintain full coverage.
Three reasons to not skimp on auto insurance
Even though Albuquerque Navigator insurance rates can get expensive, auto insurance serves a purpose in several ways.
First, just about all states have mandatory liability insurance requirements which means state laws require a specific level of liability insurance in order to get the vehicle licensed. 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 vehicle has a loan, it’s guaranteed your bank will have a requirement that you carry insurance to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank may insure your Lincoln at a much higher premium rate and force you to pay for the expensive policy.
Third, insurance protects both your vehicle and your personal assets. It will also pay for most medical and hospital costs for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of having auto insurance are without a doubt worth the cost, particularly for liability claims. But the average driver in New Mexico overpays more than $820 a year so it’s very important to do a rate comparison every year to save money.
Eight Tips to Get More Affordable Albuquerque Insurance Rates
Many different elements are used when you get your auto insurance bill. Most are fairly basic like a motor vehicle report, although others are less apparent such as your marital status and annual miles driven. A large part of saving on car insurance is knowing some of the things that play a part in calculating the rates you pay for car insurance. When consumers understand what controls the rates you pay, this allows you to make educated decisions that may reward you with cheaper rates.
The itemized list below are some of the items used by insurance companies to determine your rates.
Don’t cancel your policy without a new one in place – Driving with no insurance can get your license suspended and you will pay a penalty because you let your coverage cancel without a new policy in place. And not only will insurance be more expensive, being ticketed for driving with no insurance may result in a steep fine or even jail time.
If you don’t need it don’t buy it – There are a lot of extra coverages that sound like a good idea at the time if you don’t pay attention. Insurance for rental car coverage, better glass coverage, and Farm Bureau memberships are examples of these. You may think they are a good idea when talking to your agent, but your money might be better spent on other coverage so eliminate the coverages to reduce your premium.
Age of drivers impacts premiums – Teenage drivers in New Mexico have a tendency to be careless and easily distracted behind the wheel therefore car insurance rates are much higher. Parents adding a first-time driver onto your car insurance will cause a huge premium hike. Older insureds have been proven to be more responsible, file fewer claims, and are generally more financially stable.
The chart below is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Rates can drop if you have more than one policy – Most larger insurers will give better rates to customers who consolidate policies with them in the form of a multi-policy discount. If you currently are using one company, consumers should still get quotes from other companies to make sure you are getting the best deal. You may still be able to save even more even if you insure with multiple companies
Marriage can save you money – Getting married can actually save you money on car insurance. It demonstrates that you tend to be less irresponsible and it’s proven that married drivers tend to file fewer claims.
Cheaper to insure gals? – Over time, data shows that females take fewer risks when driving. However, this does not mean men are WORSE drivers than women. Both sexes cause at-fault accidents in similar percentages, but the men get into accidents with more damage. Men also get more serious tickets like driving under the influence (DUI). Male drivers age 16 to 19 are the most expensive to insure and therefore are the most expensive to insure.
The chart below illustrates the difference between Lincoln Navigator premium costs for male and female drivers. The premiums assume no claims or driving citations, full physical damage coverage, $500 deductibles, drivers are single, and no discounts are factored in.
More stress means more cost – Occupations such as judges, architects, and emergency personnel tend to have the highest rates due to high stress levels and extremely grueling work hours. On the flip side, careers such as scientists, athletes and the unemployed generally pay rates lower than average.
Driving citations cost more than a fine – Drivers who don’t get tickets pay less for auto insurance compared to drivers with tickets. Having a single speeding ticket can increase rates by twenty percent. Drivers with dangerous citations such as hit and run, DWI or reckless driving convictions may find they need to maintain a SR-22 with the DMV in their state in order to drive a vehicle legally.
The chart below demonstrates how speeding tickets and accidents influence Lincoln Navigator auto insurance rates for different insured age categories. The rate quotes are based on a married male driver, full coverage, $500 deductibles, and no additional discounts are factored in.
Insurance loss data for a Lincoln Navigator – Insurance companies take into consideration insurance loss statistics for every vehicle when they file their rates in each state. Vehicles that statistically have higher number or severity of losses will have higher premium rates.
The table below shows the insurance loss data for Lincoln Navigator vehicles. For each policy coverage, the claim amount for all vehicles, regardless of make, model or trim level, is equal to 100. Values under 100 suggest a better than average loss history, while percentage numbers above 100 indicate more frequent claims or an increased probability of a larger loss.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Lincoln Navigator 4dr 2WD | 109 | 114 | 61 | |||
| Lincoln Navigator 4dr 4WD | 93 | 89 | 82 | |||
| Lincoln Navigator L 4dr 2WD | 129 | 69 | ||||
| Lincoln Navigator L 4dr 4WD | 101 | 116 | 119 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Everyone needs different auto insurance coverages
When selecting insurance from an agent or online, there isn’t really a one-size-fits-all type of policy. Your needs are not the same as everyone else’s.
For example, these questions can help discover whether or not you would benefit from an agent’s advice.
- Am I covered when using my vehicle for business?
- When should I have rental car coverage?
- Will my rates increase for filing one claim?
- How much liability coverage do I need in New Mexico?
- Am I covered while delivering pizza?
- Am I covered if I hit my neighbor’s mailbox?
If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to a licensed agent. To find an agent in your area, complete this form.
Cover all your bases
Budget-friendly insurance in Albuquerque is possible both online and from local insurance agents, and you need to price shop both to have the best rate selection. Some insurance providers may not have internet price quotes and usually these smaller companies provide coverage only through independent agents.
Insureds switch companies for many reasons like being labeled a high risk driver, an unsatisfactory settlement offer, high prices and policy non-renewal. No matter why you want to switch, choosing a new company can be less work than you think.
In this article, we presented many ideas to find affordable Lincoln Navigator insurance in Albuquerque. The key thing to remember is the more price quotes you have, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest rates come from a lesser-known regional company.
More tips and info about insurance is available in these articles:
- Collision Insurance Coverage (Nationwide)
- Who Has Affordable Auto Insurance Quotes for a Chevrolet Silverado in Albuquerque? (FAQ)
- Who Has Affordable Auto Insurance for College Graduates in Albuquerque? (FAQ)
- Who Has Cheap Car Insurance for Felons in Albuquerque? (FAQ)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- Speed and Speed Limit FAQ (iihs.org)