Insurance for Chevy MalibuSearching for the cheapest insurance for a Chevy Malibu in New Mexico can normally be a lot of work, but you can learn these tips and make it easy. There are more efficient ways to compare car insurance rates so we're going to tell you the quickest way to price shop coverage for a Chevy and obtain the lowest price from both online companies and Albuquerque agents.

Choosing the most cost-effective car insurance policy in Albuquerque is much easier if you know where to start. If you are insured now or just want to save money, follow these tips to shop for the lowest rates without reducing protection. Vehicle owners just need to use the best way to shop from multiple carriers.

Cheapest auto insurance in Albuquerque, NM

The following companies provide free rate quotes in Albuquerque, NM. If multiple companies are shown, we suggest you get price quotes from several of them in order to get a fair rate comparison.

Chevrolet Malibu Insurance Rates in Albuquerque, NM
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $154 $264 $322 $20 $96 $856 $71
Malibu Hybrid $272 $576 $390 $24 $116 $1,378 $115
Malibu LT $224 $390 $390 $24 $116 $1,144 $95
Malibu LTZ $208 $366 $332 $20 $100 $1,026 $86
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Prices above based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Rates do not factor in vehicle garaging location which can change prices considerably.

Choosing deductibles

One of the hardest decisions when shopping for car insurance is how low should you set your deductibles. The following insurance rates can help you understand the cost difference between low and high policy deductibles. The first pricing table uses a $100 deductible for physical damage and the second pricing table uses a $500 deductible.

Chevrolet Malibu insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $278 $500 $322 $20 $96 $1,241 $103
Malibu Hybrid $278 $500 $322 $20 $96 $1,241 $103
Malibu LT $312 $500 $322 $20 $96 $1,275 $106
Malibu LTZ $312 $590 $322 $20 $96 $1,365 $114
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Chevrolet Malibu insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $202 $338 $322 $20 $96 $978 $82
Malibu Hybrid $202 $338 $322 $20 $96 $978 $82
Malibu LT $228 $338 $322 $20 $96 $1,004 $84
Malibu LTZ $228 $398 $322 $20 $96 $1,064 $89
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Rate information does not factor in vehicle garaging location which can revise prices considerably.

Based on the figures above, using a $100 deductible could cost the average driver approximately $23 more each month or $276 each year than quoting the higher $500 deductible. Since the policyholder would be required to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you normally average more than 17 months between claim filings, you would more than likely save some money if you choose a higher deductible.

Full coverage versus liability-only

The diagram below shows the comparison of Chevrolet Malibu auto insurance costs with and without full coverage. The rates are based on no claims or driving citations, $500 deductibles, married female driver, and no discounts are applied.

Should you pay for full coverage or liability only?

There is no set rule to delete physical damage insurance, but there is a guideline you can use. If the yearly cost of full coverage is 10% or more of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let's pretend your Chevrolet Malibu book value is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $6,000 after you pay the deductible. If premiums are more than $600 a year for full coverage, then it might be time to consider dropping full coverage.

There are some cases where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don't have enough money to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.

Car insurance rates are higher with tickets and accidents

The chart below illustrates how violations and at-fault claims impact Chevrolet Malibu annual premium costs for different age groups. The premiums are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied to the premium.

How You Can Control Chevy Malibu Insurance Premiums

One of the most helpful ways to save on insurance is to to have a grasp of the rating factors that play a part in calculating the price you pay for insurance. If you have some idea of what impacts premium levels, this allows you to make educated decisions that could help you find cheaper rates.

Shown below are just a few of the factors utilized by car insurance companies to help set your rates.

Drive less and get lower premiums - The more miles you rack up on your Chevy in a year's time the higher your rates will be. A lot of companies calculate prices based on how the vehicle is used. Cars and trucks that sit idle most of the time can be on a lower rate level as compared to vehicles used primarily for driving to work. It's a smart idea to ensure your declarations sheet shows the correct usage for each vehicle, because improper ratings can cost you money. Incorrect rating for your Malibu may be costing you higher rates.

The type of car, truck or SUV makes a difference - The performance level of the car you need insurance for makes a big difference in determining your rates. Since the Chevrolet Malibu is considered a passenger car, insuring your vehicle will cost similar in price or lower as compared to the average rate in Albuquerque. Smaller low performance passenger vehicles usually have the lowest rates, but many other things help determine your insurance rates.

Extra policy coverages that aren't used - There are quite a few extra bells and whistles that may not really be needed but may not be useful. Things like personal injury protection, towing, and additional equipment coverage may not be needed and are just wasting money. You may think they are a good idea when talking to your agent, but your money might be better spent on other coverage so consider taking them off your policy.

Deter theft and save money - Owning a car with anti-theft technology or alarm system can get you a discount on your insurance. Theft prevention features like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping car theft and help bring rates down.

Does car insurance cost less for women? - Statistics demonstrate that females tend to be a little less risky than males. However, this does not mean women are better drivers. Both sexes are in auto accidents at about the same rate, but the male of the species get into accidents with more damage. In addition to higher claims, males also get cited for more serious violations like DWI (DUI) or reckless driving.

Consolidate policies to earn discounts - Most major companies provide discounts to customers that buy multiple policies. It's known as a multi-policy discount. Even though this discount sounds good, it's in your best interest to comparison shop to confirm you are receiving the best rates possible.

Insurance losses for a Chevy Malibu - Auto insurance companies analyze claim trends for every vehicle when they set coverage costs for each model. Models that historically have higher frequency or amount of claims will be charged more to insure.

The table below demonstrates the compiled insurance loss statistics for Chevy Malibu vehicles. For each type of coverage, the claim amount for all vehicles combined as an average is represented as 100. Numbers below 100 indicate a favorable loss history, while values that are above 100 indicate frequent claims or tendency to have larger claims.

Chevrolet Malibu Insurance Claim Statistics

Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Malibu 94 100 109 139 145 120
BETTER
AVERAGE
WORSE

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Albuquerque insurance discounts for a Chevy Malibu

Companies that sell car insurance do not list the complete list of policy discounts in a way that's easy to find, so the next list breaks down some of the best known as well as the least known credits available to lower your premiums when you buy Albuquerque car insurance online. If you're not getting every credit possible, you are throwing money away.Cheaper car insurance with discounts

Consumers should know that many deductions do not apply to your bottom line cost. A few only apply to the price of certain insurance coverages like comprehensive or collision. So even though they make it sound like you could get a free car insurance policy, it just doesn't work that way.

A few popular companies and some of their more popular discounts can be read below.

Before buying, ask every insurance company which credits you are entitled to. Depending on the company, some discounts may not be offered in Albuquerque. For a list of insurance companies who offer online Chevy Malibu insurance quotes in New Mexico, click here.

What if I want to buy from local Albuquerque car insurance agents?

Many people still like to talk to an insurance agent and that can be a great decision Insurance agents can point out coverage gaps and help in the event of a claim. One of the best bonuses of comparing rate quotes online is the fact that you can find cheaper car insurance rates and still choose a local agent.

Insurance agents in AlbuquerqueAfter completing this form (opens in new window), your insurance data is transmitted to local insurance agents who will gladly provide quotes for your business. It makes it easy because there is no need to search for any insurance agencies because quoted prices will be sent to you instantly. If you wish to compare rates from a particular provider, you just need to visit that company's website and complete a quote there.

Deciding on an company needs to be determined by more than just a cheap price. These questions are important to ask:

Pick the best auto insurance agent in Albuquerque for you

If you are wanting to purchase auto insurance from a reliable insurance agent, you must know there are a couple different types of agents and how they work. Auto insurance policy providers can be classified as either exclusive or independent (non-exclusive). Either type can insure your vehicles, but it's important to point out the subtle differences since it could factor into your agent selection.

Exclusive Auto Insurance Agents

Agents in the exclusive channel normally can only provide a single company's rates and examples are State Farm or Allstate. They usually cannot shop your coverage around so you need to shop around if the rates are high. Exclusive insurance agents are trained well in insurance sales which helps overcome the inability to quote other rates. Some insured continue to buy from the same agent for years primarily because of the brand name rather than having low rates.

Below are exclusive insurance agents in Albuquerque who may provide you with price quote information.

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Independent Agents

Agents that elect to be independent are not required to write business for one company so they have the ability to put coverage with any number of different companies depending on which coverage is best. If they find a cheaper price, the business is moved internally and you don't have to switch agencies. When comparing auto insurance rates, we recommend you get some free quotes from several independent insurance agents to have the most options to choose from. They also have the ability to place coverage with less well-known companies that may have much lower rates than larger companies.

Shown below are Albuquerque independent insurance agencies willing to provide price quote information.

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Upon receiving reasonable responses to all your questions and a good coverage price, it's a good possibility that you have found an insurance agent that meets your needs to service your policy. But remember, you can always terminate your policy at any time so don't assume you are locked into the auto insurance policy indefinitely.

Car insurance companies are expert advertisers

New Mexico consumers can't get away from all the ads that promise big savings for switching from the likes of Allstate, GEICO and Progressive. They all seem to make an identical promise about savings after switching your coverage.

Is it even possible that every company can charge lower premium rates? It's all in the words they use.

All the different companies look for specific characteristics for a prospective insured that will most likely be profitable. For instance, a preferred risk should be between the ages of 30 and 50, has a clear driving record, and drives a safe vehicle. Any customer that matches those criteria will probably get the lowest auto insurance rates and will save money with a new company.

Insureds who are not a match for this ideal profile will get a higher rate which results in the driver buying from a lower-cost company. The trick is to say "drivers who switch" not "all people who quote" save that kind of money. That's the way companies can truthfully make it sound like they have such great premium rates. This illustrates why you really should do a rate comparison at every renewal. Because without a comparison, you cannot know the company that will have the best auto insurance rates at this point in time.

You can find cheap coverage

As you shop your coverage around, it's not a good idea to skimp on critical coverages to save a buck or two. There are a lot of situations where drivers have reduced collision coverage and discovered at claim time that it was a big mistake. Your goal should be to buy the best coverage you can find at the best possible price, but don't skip important coverages to save money.

Lower-priced Chevy Malibu insurance in Albuquerque can be found both online and also from your neighborhood Albuquerque agents, and you need to price shop both to have the best rate selection. Some insurance companies may not offer rate quotes online and these regional carriers provide coverage only through local independent agents.

Insureds switch companies for any number of reasons including poor customer service, policy cancellation, denial of a claim or even lack of trust in their agent. It doesn't matter why you want to switch switching companies is actually quite simple.

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