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Are you looking for cheap auto insurance in Albuquerque, NM? From AutoInsuranceEZ.com, you will discover the lowest cost insurance rates within your town. To get free car insurance prices available from the leading providers today, type in your local zip code in the quote box in this posting.

Albuquerque is a good mix of historical past with modern future. The city is home to several natural landmarks, including the Rio Grande River and the Sandia Mountains to its east. Scientific innovation is no stranger to Albuquerque, which also houses the Lovelace Respiratory Research Institute and Sandia National Laboratories. With so much to offer its citizens, it should come as no surprise that Albuquerque is one of the top ten fastest growing cities in the US.

  • Fun fact: Is the air getting a little thin up here? Because Albuquerque is #15 on the list of “Top 100 highest located cities (pop. 50,000+)”. Learn more about Albuquerque by visiting here.

Auto Insurance Coverage Requirements in New Mexico

Driving legally in Albuquerque requires:

Coverage Requirements Most Common
Bodily Injury Liability 25,000/50,000 25,000/50,000
Property Damage Liability 10,000 25,000
Uninsured Motorist Bodily Injury Not required 25,000/50,000
Medical Payments Not required 5,000
Collision Not required 500 deductible
Comprehensive Not required 100 deductible

Keep in mind that just because Comprehensive, Collision, and other forms of coverage aren’t required doesn’t mean you shouldn’t look into them. The extra expense could be worth it in the long run. And in some cases, such as with a financed vehicle, your lender may require extra coverage.

Most motorists in New Mexico typically have to pay around $114 per month or more for their insurance coverage. But did you know that Albuquerque drives can get covered for as little as $51/mo*? Keep reading, and we’ll show you how to find the right company who offers the most discounts for drivers like you.

Average Monthly Auto Insurance Premiums Legend: Albuquerque Allied Central Mutual State Farm Cal Casualty Allstate 5 10 15 20 25 30 35 40 45 50 $37 $36 $49 $52 $52

 

Allied, State Farm, and Central Mutual are offering some of the best deals in Albuquerque right now. For the most part, those are some pretty well-known providers, so it shouldn’t be too hard to look up their customer service records and see if their customer satisfaction ratings are as high as their rates are affordable.

Auto insurance carriers contemplate several variables when determining insurance prices, which includes marital status, where you live, credit score/rating, years of driving experience, and multiple cars and drivers. On top of that, premiums might vary from provider to provider. To make sure you are still paying the lowest-cost price, evaluate cheap Albuquerque auto insurance quotes on the internet.

Major Car Insurance Factors in Albuquerque

Each time your auto insurance agency gets ready to craft your insurance policy, they take several specifics into account. Some of these, just like your age or your exact region, are generally very unlikely to alter. Here are various other examples:

  • Your Zip Code

Budget friendly car insurance is normally associated with urban centers which have a smaller population density. Because there are less cars cruising the road, there are a lot fewer chances to get involved in a serious wreck with another motorist. The populace of Albuquerque is 556,495 and the general family income is $48,357.

Auto Insurance by Zip Code Legend: Santa Fe Rio Rancho Las Cruces Albuquerque Roswell Allied Central Mutual State Farm Cal Casualty Allstate 5 10 15 20 25 30 35 40 45 50 $34 $35 $25 $37 $30 $37 $38 $30 $36 $35 $41 $41 $36 $49 $35 $45 $49 $39 $52 $36 $46 $51 $45 $52 $43

 

  • Automotive Accidents

Take a look at the data for serious accidents in Albuquerque. Those numbers may seem high, but you have to keep in mind that there are more than half a million people living within the city limits, and Albuquerque isn’t exactly well-known for public transportation. So most of those 500,000+ residents are probably on the road. Call your local agent to see if these numbers are altering your monthly premium, and if you might qualify for a safe driving discount.

Fatal Accidents in Albuquerque, NM Legend: Albuquerque Fatal accident count Vehicles involved in fatal crashes Fatal crashes involving drunk persons Fatalities Persons involved in fatal crashes Pedestrians involved in fatal accidents 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 39 61 7 42 87 18

 

  • Auto Thefts in Albuquerque

Sometimes in small cities or outlying towns, auto theft can nevertheless be an issue. To help make it less of a problem for you personally, think about installing a passive anti-theft system on your current car. Your current auto insurance company may reward you with lower prices! Within Albuquerque, there were 3,005 auto thefts in 2013. To quell your auto theft worries, you can make sure to add Comprehensive coverage to your policy.

Basic vs. Comprehensive Auto Policy Legend: Basic Coverage Comprehensive Coverage Allied Central Mutual State Farm Cal Casualty Allstate 15 30 45 60 75 90 105 120 135 $37 $74 $36 $124 $49 $100 $52 $144 $52 $147

 

  • Your Credit Score

Your credit rating plays a substantial role in what you’ll get billed monthly for the vehicle insurance. Because this chart clearly demonstrates, getting an undesirable credit rating can almost double – or even more – that which you pay every month to stay insured.

Auto Insurance by Credit Score Legend: Excellent Credit Poor Credit Allied Central Mutual State Farm Cal Casualty Allstate 10 20 30 40 50 60 70 80 $33 $68 $30 $85 $42 $84 $41 $89 $51 $61

 

  • Your Age

Older drivers have it made when it comes to monthly premiums, because their decades of driving experience make it much less likely that they will be involved in an accident (and, therefore, file a claim). Younger drivers are the exact opposite – they cost more to insure because they are more likely to file claims from accidents.

Auto Policy Age Comparison Legend: 34 Year Old 17 Year Old Allied Central Mutual State Farm Cal Casualty Allstate 20 40 60 80 100 120 140 160 180 200 $37 $138 $36 $109 $49 $164 $52 $219 $52 $140

 

  • Your Driving Record

The greater violations you’ve put in your record, the greater your chances will be to file claims – that will lead your provider to ask you for greater rates. But when you’ve a lot of citations, or commit a significant breach – like a Drunk driving crime – you might lose your coverage altogether.

Driving Violations Legend: Perfect Record Minor Speeding Ticket DUI/Reckless Driving Major At-Fault Accident Allied Central Mutual State Farm Cal Casualty Allstate 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 $37 $44 $72 $54 $36 $41 $41 $44 $49 $53 $53 $53 $52 $58 $85 $66 $52 $56 $63 $64

 

  • Your Vehicle

The more expensive your vehicle is, the more you will have to pay in insurance premiums to keep it sufficiently covered. In some circumstances, you could save money by purchasing insufficient (but still legal) coverage. The danger though is that something may happen to your vehicle which is not covered by an insufficient policy, and therefore you will be responsible for the expense.

Car Insurance by Make/Model Legend: 2015 Honda Accord 2012 Porsche Boxster Spyder Allied Central Mutual State Farm Cal Casualty Allstate 20 40 60 80 100 120 140 160 180 $37 $78 $36 $140 $49 $119 $52 $159 $52 $187

 

Minor Car Insurance Factors in Albuquerque

Among the factors below, you may be able to find something which you can largely control and also utilize for discounts:

  • Your Marital Status

If you’re a part of a husband and wife couple, there’s great news: it can save you cash on your automotive insurance plans should you bundle them together. As people, however, you will not save greatly being married versus. being single.

  • Your Gender

Our research into the data shows no factor which justifies charging different monthly rates between men and women motorists. Some companies might charge women more, while some might charge males a greater rate. But for companies who charge different prices, it always varies by a maximum of 2-3%.

  • Your Driving Distance to Work

While the average amount of time spent commuting behind the wheel may only last most drivers 15-20 minutes, it is also highly likely for commute times to go on for 17-22 minutes. More than 75% of residents will take their own vehicle to work each day, as opposed to the 5-14% of motorists who would rather carpool.

For those who have your automobile for auction on your insurance plan like a business vehicle, you will probably pay around 10% more, no matter how frequently you drive every year. Total miles driven, along with your purpose on the highway (work/school/pleasure) will not change your monthly rates by greater than 1-2%.

  • Your Coverage and Deductibles

Should you add more coverage choices to your policy, you are able to decrease your monthly obligations by raising your deductible. Bear in mind, though, that should you ever need to file claims, you will have the cash available to have the ability to pay that deductible.

  • Education in Albuquerque, NM

Nearly one-quarter of all Albuquerque residents have successfully obtained their high school diploma, while an additional 18% have gone on to acquire a bachelor’s degree. These fortunate few have something else to look forward to besides brighter career prospects, however: they will also be paying lower rates for their auto insurance policies. And these lower rates are even better than what they might get based on their profession, or their annual income.

Albuquerque is home to the main campus of the University of New Mexico, which is the largest university within the state. The Southwest culture has a strong influence within the university, which is reflected by their Latin American Studies and Flamenco Dance programs. But the university also hosts one of the top ten medical programs in the country. But if you’re looking to fast track your education, Albuquerque is also where Albuquerque Technical-Vocational Institute is located, which happens to be the largest community college in the entire state.

Sadly for many insurance agencies, a quick search on the internet can easily expose so many of their trade methods. But even having the correct facts, it may still be problematic for anyone as an individual to understand your own risk profile and discover the cheapest insurance. Be sure to carry out your own due diligence prior to committing to your next car insurance policy.

How We Conducted Our Car Insurance Analysis

*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.

Sources:

New Mexico Office of the Superintendent of Insurance

New Mexico Financial Institutions Division – Regulation and Licensing

Department of Highway Safety and Motor Vehicles

City-Data.com

Census.gov

Begin comparing rates right away. It’ll only take a minute or two, and you could save a ton of money!

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