Are you at wits end from wondering where the money will come from to pay insurance each month? You are no different than the majority of other vehicle owners in New Mexico.
Shockingly, a large majority of consumers have purchased from the same company for a minimum of four years, and nearly half have never compared rates from other carriers. With the average premium in New Mexico being $1,200, drivers could save an average of $474 each year just by getting comparison quotes, but they don't want to spend time to find affordable insurance by shopping around. Multiple insurance companies compete for your insurance dollar, and because of this it can be hard to compare insurers to get the cheapest price on insurance.
It's a good habit to compare prices every six months because insurance prices are adjusted regularly by insurance companies. If you had the lowest rates on insurance six months ago a different company probably has better premium rates today. Block out anything you think you know about insurance because you're about to find out the quickest way to find better coverage on insurance at a better price.
If you are insured now or want to find a cheaper company, you can use these techniques to buy cheaper auto insurance and still get good coverage. Locating the most cost-effective auto insurance policy in Hobbs is really quite easy. Vehicle owners just need to use the fastest way to compare rates over the internet.
These discounts can lower your insurance quotes
Insurance is not cheap nor is it fun to buy but you might find some hidden discounts to help offset the cost. Certain credits will be shown when you purchase, but some need to be inquired about before they will apply.
- Senior Citizens - If you're over the age of 55, you may be able to get a small discount on rates.
- Telematics Devices - Insureds who allow their insurance company to scrutinize when and where they use their vehicle through the use of a telematics system like In-Drive from State Farm and Progressive's Snapshot may see discounts if they show good driving skills.
- Life Insurance - Select insurance carriers reward you with a lower rate if you buy life insurance.
- Early Switch Discount - A few insurance companies offer discounts for switching to them prior to the expiration date on your current policy. The savings is around 10%.
- No Claims - Good drivers with no accidents can save substantially in comparison with insureds who have frequent claims or accidents.
- Theft Deterrent System - Vehicles with anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
- Air Bags and Passive Restraints - Factory air bags could see savings of 20% or more.
- Good Grades Discount - A discount for being a good student may save as much as 25% on a Hobbs auto insurance quote. This discount can apply up to age 25.
- Multi-policy Discount - When you combine your homeowners and auto insurance with one company you may save up to 20% off your total premium.
- Seat Belt Usage - Using a seat belt and requiring all passengers to wear their seat belts could cut 10% or more off the medical payments premium.
Remember that most credits do not apply to your bottom line cost. Some only apply to the cost of specific coverages such as liability, collision or medical payments. If you do the math and it seems like having all the discounts means you get insurance for free, companies don't profit that way.
If you would like to choose from a list of companies who offer free insurance quotes in Hobbs, click this link.
Finding a lower price on insurance can be relatively painless. Just spend a few minutes to get quotes from some recommended companies.
It's so simple to compare auto insurance quotes online replaces the need to call or drive to local insurance agencies. Quoting and buying auto insurance online has reduced the need for local agents unless your situation requires the advice and guidance that only a licensed agent can provide. Although, it is possible compare the best prices online but have your policy serviced through an agent.
The companies shown below are our best choices to provide free rate quotes in Hobbs, NM. If more than one company is shown, it's a good idea that you compare several of them to find the lowest car insurance rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Impala LTZ||$1,058||$529||$88|
|Chevrolet Silverado LS Crew Cab 2WD||$1,414||$707||$118|
|Dodge Ram Crew Cab Sport 2WD||$1,294||$647||$108|
|Ford Escape XLS 2WD||$858||$429||$72|
|Ford Explorer Eddie Bauer 4WD||$868||$434||$72|
|Ford F-150 Lariat Crew Cab 2WD||$974||$487||$81|
|Ford Focus SES 2-Dr Coupe||$1,132||$566||$94|
|Honda Accord EX-L 2-Dr Coupe||$1,118||$559||$93|
|Honda CR-V LX 2WD||$856||$428||$71|
|Honda Civic Hybrid 4-Dr Sedan||$1,058||$529||$88|
|Hyundai Sonata GLS 4-Dr Sedan||$1,160||$580||$97|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$1,062||$531||$89|
|Kia Optima SX||$978||$489||$82|
|Nissan Altima 3.5 SR 2-Dr Coupe||$1,388||$694||$116|
|Toyota Camry XLE||$1,180||$590||$98|
|Toyota Corolla S||$1,474||$737||$123|
|Toyota Tacoma X-Runner 2WD||$1,024||$512||$85|
|Volkswagen Jetta SE 4-Dr Sedan||$820||$410||$68|
|Get Your Own Custom Quote Go|
Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Rate information does not factor in garaging location in Hobbs which can modify prices significantly.
How accidents and tickets impact rates in Hobbs
The diagram below demonstrates how citations and at-fault collisions impact Chevrolet Tahoe car insurance rates for different age groups of insureds. The premiums assume a single male driver, full coverage, $250 deductibles, and no discounts are applied.
Chevrolet Tahoe rates are for example purposes only. To get rates for your specific vehicle, click here.
Find cheaper insurance with these tips
Lots of factors are used in the calculation when you get a price on insurance. A few of the factors are predictable such as your driving history, but others are less apparent such as your credit history and annual miles driven.
Your career may increase prices - Careers such as doctors, social workers and financial analysts usually pay the highest average rates because of intense work-related stress and lots of time spent away from family. Other jobs such as professors, students and the unemployed have the lowest average rates.
What's your car's safety rating? - Vehicles that have high safety ratings cost less to insure. Highly rated vehicles help reduce the chance of injuries in an accident and better occupant protection translates into savings for insurance companies and more competitive rates for policyholders.
Prices can change based on your address - Having an address in a small town can save you money when insuring your vehicles. Less people living in that area translates into fewer accident claims and a lower car theft rate. People in densely populated areas have to deal with more auto accidents and longer commute times. More time commuting means more chance of being in an accident.
Claim-free discounts can add up - If you frequently file small claims, you can expect higher rates. Auto insurance companies in New Mexico provide the best rates to insureds who are claim-free. Your car insurance is intended for larger claims.
Which gender costs less? - Statistics have proven that females tend to be a little less risky than males. This data doesn't prove that men are WORSE drivers than women. Males and females tend to get into auto accidents in similar numbers, but the men get into accidents with more damage. They also get ticketed for serious violations like reckless driving and DUI.
Car insurance agents can help
Many people would rather visit with an insurance agent and that is just fine! Agents can point out coverage gaps and give you someone to call. An additional benefit of getting online price quotes is that you can find cheap rate quotes and still choose a local agent. And buying from local agents is definitely important in Hobbs.
To find an agent, once you fill out this quick form, the coverage information is emailed to participating agents in Hobbs who will give you quotes for your coverage. There is no reason to find an agent since rate quotes are delivered to your email. In the event you want to get a comparison quote for a specific company, don't hesitate to jump over to their website to submit a rate quote request.
If you're trying to find a local Hobbs insurance agency, you should know the types of agencies that you can select. Car insurance policy providers may be either independent agents or exclusive agents depending on their employer. Both can provide car insurance policies, but it is a good idea to know the differences since it can impact the kind of agent you use.
Independent Agents (or Brokers)
Independent agencies are normally appointed by many insurers so they have the ability to put coverage through lots of different companies and get you the best rates possible. If they quote lower rates, the business is moved internally and you won't have to switch agencies.
If you need lower rates, you need to get insurance quotes from multiple independent agents to have the best price comparison.
Exclusive Insurance Agents
Agents that elect to be exclusive normally can only provide a single company's rates such as State Farm, Allstate, or Farmers Insurance. They generally cannot compare other company's rates so if the price isn't competitive there isn't much they can do. Exclusive insurance agents are very knowledgeable on the products they sell which helps them sell on service rather than price.
Picking an car insurance agent shouldn't rely on just a cheap quote. These are some valid questions you should ask.
- Are they properly licensed to sell insurance in New Mexico?
- Is the coverage adequate for your vehicle?
- What insurance companies do they recommend if they are an independent agent?
- Will they take your side in the event of a claim?
- How is replacement cost determined on your vehicle?
Choosing the best vehicle insurance in New Mexico is an important decision
Despite the potentially high cost of insurance, insuring your vehicle is not optional due to several reasons.
- Almost all states have minimum liability requirements which means state laws require a specific minimum amount of liability coverage if you drive a vehicle. 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.
- If your vehicle has a lienholder, almost every bank will require that you buy insurance to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the lender may have to buy a policy to insure your vehicle for a much higher rate and require you to fork over for the expensive policy.
- Insurance protects your vehicle and your assets. It will also reimburse you for many types of medical costs for yourself as well as anyone injured by you. Liability insurance also pays expenses related to your legal defense in the event you are sued. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.
The benefits of insuring your car outweigh the cost, especially with large liability claims. On average, a vehicle owner in Hobbs overpays as much as $820 a year so compare rate quotes at least once a year to be sure current rates are still competitive.
Shop around and save
When you buy Hobbs auto insurance online, it's a bad idea to buy less coverage just to save a little money. Too many times, someone sacrificed uninsured motorist or liability limits only to regret at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to buy the best coverage you can find at a price you can afford while still protecting your assets.
Affordable car insurance in Hobbs is definitely available on the web and from local insurance agents, and you should compare price quotes from both so you have a total pricing picture. A few companies do not offer the ability to get a quote online and many times these smaller providers only sell coverage through local independent agents.
More tips and info about car insurance can be found by following these links:
- Keeping Children Safe in Crashes Video (iihs.org)
- What Car Insurance is Cheapest for Active Military in New Mexico? (FAQ)
- Who Has the Cheapest Car Insurance for a Honda CR-V in New Mexico? (FAQ)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- Insuring a Leased Car (Insurance Information Institute)
- Understanding Rental Car Insurance (Insurance Information Institute)