Unbelievable but true, the majority of drivers have remained with the same insurance company for four years or more, and nearly half have never compared insurance rates at all. With the average premium in America being $1,847, drivers could cut their rates by 46.5% a year just by getting comparison quotes, but most tend to underestimate how much money they would save if they just switched companies.
Really, the only way to get more affordable Toyota FJ Cruiser insurance in Albuquerque is to start comparing prices yearly from companies who provide car insurance in New Mexico. You can compare prices by following these guidelines.
- It will benefit you to learn about how companies set rates and the modifications you can make to prevent high rates. Many factors that increase rates such as distracted driving and poor credit can be eliminated by making minor driving habit or lifestyle changes. This article provides additional tips to get affordable coverage and find possible discounts that are available.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like GEICO and State Farm, while independent agencies can provide rate quotes for many different companies. View companies
- Compare the new rate quotes to your current policy to determine if you can save on FJ Cruiser insurance. If you find a lower rate and change companies, verify that coverage does not lapse between policies.
- Provide notification to your current agent or company of your intention to cancel your current policy. Submit any necessary down payment along with the completed application to your new carrier. As soon as you receive it, keep your new certificate verifying proof of insurance along with the vehicle’s registration papers.
A key point to remember is to use the same deductibles and limits on every quote and and to get rates from as many different companies as possible. Doing this provides an accurate price comparison and a complete selection of prices.
Finding affordable insurance in Albuquerque is quite easy. In a nutshell, anyone who is required to buy insurance will more than likely find lower prices. But New Mexico drivers must learn how insurance companies sell insurance online and take advantage of how the system works.
When quoting auto insurance, remember that comparing more rates from different companies helps improve the odds of finding a lower rate.
The following companies can provide price comparisons in Albuquerque, NM. If you want cheaper car insurance in Albuquerque, NM, we recommend you visit as many as you can to get a more complete price comparison.
Premium rates and analysis
The data table below outlines estimates of insurance policy prices for Toyota FJ Cruiser models. Understanding more about how insurance policy premiums are figured can help you make informed decisions when comparing rate quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| FJ Cruiser 2WD | $208 | $256 | $332 | $20 | $100 | $916 | $76 |
| FJ Cruiser 4WD | $232 | $256 | $332 | $20 | $100 | $940 | $78 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Prices do not factor in specific location information which can increase or decrease rates significantly.
Policy deductible comparison
One frequently asked question is how high should the physical damage deductibles be. The following tables summarize how much more rates are between low and high comp and collision deductibles. The first data table uses a $100 physical damage coverage deductible and the second rate chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| FJ Cruiser 2WD | $312 | $412 | $322 | $20 | $96 | $1,187 | $99 |
| FJ Cruiser 4WD | $348 | $412 | $322 | $20 | $96 | $1,223 | $102 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| FJ Cruiser 2WD | $228 | $278 | $322 | $20 | $96 | $944 | $79 |
| FJ Cruiser 4WD | $254 | $278 | $322 | $20 | $96 | $970 | $81 |
| 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 homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium amounts do not factor in Albuquerque location which can impact coverage rates considerably.
We can derive from the above data that using a $100 deductible will cost in the ballpark of $21 more each month or $252 each year than requesting the higher $500 deductible. Since you would pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you usually have more than 19 months between claims, you would come out ahead going with the higher deductible.
Toyota FJ Cruiser annual premiums for males versus females
The example below illustrates the difference between Toyota FJ Cruiser yearly insurance costs for male and female drivers. The information is based on no driving violations, no at-fault accidents, comp and collision included, $100 deductibles, single marital status, and no additional discounts are factored in.
Price comparison of only insuring for liability
The example below shows the difference between Toyota FJ Cruiser insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The costs are based on no violations or accidents, $1,000 deductibles, drivers are single, and no additional discounts are factored in.
When to stop paying for full coverage
There is no exact rule to delete full coverage, but there is a guideline you can use. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
For example, let’s say your Toyota FJ Cruiser settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $3,000 after you pay the deductible. If it’s costing in excess of $300 annually for physical damage coverage, then you may want to consider only buying liability coverage.
There are some situations where buying only liability insurance is not a good plan. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.
Buying from insurance agencies
Some consumers just want to sit down with an agent and that is OK! The best thing about comparing rate quotes online is that you can obtain cheaper rates and still have an agent to talk to. Buying from and supporting small agencies is especially important in Albuquerque.
Upon completion of this quick form, the coverage information gets sent to insurance agents in Albuquerque that can give you free Albuquerque car insurance quotes for your business. There is no need to do any legwork since price quotes are sent to you directly. You can find better rates and a licensed agent to work with. If for some reason you want to quote rates from a specific car insurance provider, don’t hesitate to search and find their rate quote page and submit a quote form there.
Choose the right car insurance agent
If you prefer to buy car insurance from a reliable agent, you need to know there are two different types of agents and how they can write your policy. Car insurance agencies are either independent (non-exclusive) or exclusive.
Independent Car Insurance Agents (or Brokers)
Independent agents are not required to write business for one company so they can write business with a variety of different insurance companies and potentially find a lower price. To move your coverage to a new company, your agent can switch companies which is easy for the insured. If you are comparing car insurance prices, it’s recommended you include several independent agencies for maximum quote selection. They also have the ability to place coverage with companies that do not advertise much which may have better rates.
The following is a small list of independent agents in Albuquerque that can give you rate quotes.
- Menicucci Insurance Llc
2116 Vista Oeste NW Bldg 5 – Albuquerque, NM 87120 – (505) 883-3683 – View Map - Berger Briggs Real Estate and Insurance Inc
4333 Pan American Fwy – Albuquerque, NM 87107 – (505) 247-0444 – View Map - Daniels Insurance Inc
320 Gold Ave SW # 700 – Albuquerque, NM 87102 – (505) 766-9676 – View Map
Exclusive Car Insurance Agencies
These type of agents work for only one company like Allstate and State Farm. They are unable to place coverage with different providers so keep that in mind. Exclusive agents are well schooled in insurance sales which can be an advantage. Consumers sometimes use the same agent mainly due to high brand loyalty and the convenience of having a single billing for all their coverages.
Listed below are Albuquerque exclusive agencies that are able to give price quotes.
- Mike Volk – State Farm Insurance Agent
3716 Central Ave SE – Albuquerque, NM 87108 – (505) 232-2886 – View Map - Lanell Anderson – State Farm Insurance Agent
5600 Menaul Blvd NE – Albuquerque, NM 87110 – (505) 881-0550 – View Map - Edward Dunn – State Farm Insurance Agent
3750 Juan Tabo Blvd NE Ste E – Albuquerque, NM 87111 – (505) 332-8050 – View Map
Finding the right insurance agent requires you to look at more than just a low price. Here are some questions you might want to ask.
- What companies can they write with?
- How are claims handled?
- Are they able to influence company decisions when a claim is filed?
- How does the company pay claims for a total loss?
- Is the agent properly licensed in New Mexico?
- Do they reduce claim amounts on high mileage vehicles?
- Will a damage claim use OEM or aftermarket replacement parts?
- Can they provide you with a list of referrals?