Wish you could get out of an expensive insurance policy? It's quite common and you're not alone.
It's hard to believe, but almost 70% of drivers in New Mexico have purchased from the same company for more than four years, and 38% of customers have never compared rates to find lower-cost insurance. With the average premium in the United States being $1,847, drivers could save nearly $850 each year by just shopping around, but they don't believe how much money they would save if they switched. Vehicle owners have multiple insurers to choose from, and although it's a good thing to have multiple companies, it can be more challenging to compare company pricing for Honda CR-V insurance in Albuquerque.
Getting quotes for affordable auto insurance coverage in Albuquerque is easy if you know what you're doing. If you have a policy now or are shopping for new coverage, take advantage of these tips to lower your rates and possibly find even better coverage. Drivers only need to know the most efficient way to compare insurance rates from multiple carriers.
Companies offering Honda CR-V insurance in New Mexico
The companies shown below provide quotes in New Mexico. If the list has multiple companies, we suggest you get prices from several of them to find the cheapest auto insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$234||$404||$280||$16||$84||$1,018||$85|
|CR-V EX 2WD||$242||$412||$274||$16||$82||$1,026||$86|
|CR-V LX 4WD||$104||$184||$262||$16||$78||$644||$54|
|CR-V EX 4WD||$272||$474||$332||$20||$100||$1,198||$100|
|CR-V EX-L 2WD||$194||$294||$262||$16||$78||$844||$70|
|CR-V EX-L 4WD||$248||$344||$274||$16||$82||$964||$80|
|Get Your Own Custom Quote Go|
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Rate information does not factor in specific Albuquerque garaging location which can revise coverage prices considerably.
Safe drivers pay less for car insurance
The diagram below demonstrates how speeding tickets and at-fault collisions raise Honda CR-V insurance premiums for different age categories. The price estimates are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.
Premiums by gender and age
The example below shows the comparison of Honda CR-V auto insurance rates for male and female drivers. The premiums are based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, marital status is single, and no discounts are taken into consideration.
Get discounts to get affordable Albuquerque insurance quotes
Insurance is not an enjoyable expense, but there could be significant discounts that can drop the cost substantially. Certain reductions will be credited at quote time, but a few must be requested specifically prior to receiving the credit.
- Military Rewards - Being deployed with a military unit could be rewarded with lower prices.
- Discount for Multiple Policies - If you insure your home and vehicles with one insurance company they may give you a discount of as much as 10 to 15 percent.
- Anti-theft Discount - Vehicles with anti-theft systems can help prevent theft and can earn a small discount on your policy.
- Cautious Driver Discount - Drivers who don't get into accidents may receive a discount up to 45% compared to rates paid by drivers with frequent claims.
- Safety Course Discount - Successfully completing a defensive driving class may get you a small discount and also improve your driving technique.
- Drivers Ed for Students - Require your teen driver to successfully take a driver's education course in high school.
- E-sign Discounts - A few companies will give you a small discount simply for signing over the internet.
Just know that most discounts do not apply to all coverage premiums. Most only cut the cost of specific coverages such as medical payments or collision. So even though you would think you could get a free insurance policy, insurance companies aren't that generous.
Larger insurance companies and a summarized list of policyholder discounts are included below.
- GEICO may include discounts for multi-vehicle, seat belt use, anti-theft, multi-policy, and emergency military deployment.
- Travelers offers discounts including home ownership, save driver, payment discounts, good student, and continuous insurance.
- Nationwide may have discounts that include anti-theft, defensive driving, Farm Bureau membership, family plan, good student, and accident-free.
- Farmers Insurance has savings for homeowner, mature driver, good student, electronic funds transfer, early shopping, and distant student.
- Esurance may offer discounts for renters, multi-policy, anti-theft, online shopper, anti-lock brakes, and online quote.
- State Farm offers premium reductions for student away at school, defensive driving training, good driver, multiple autos, anti-theft, multiple policy, and accident-free.
- Progressive policyholders can earn discounts including multi-vehicle, online signing, continuous coverage, online quote discount, multi-policy, good student, and homeowner.
- Mercury Insurance offers discounts for low natural disaster claims, good student, anti-theft, accident-free, and type of vehicle.
If you are trying to find affordable Honda CR-V insurance quotes, ask every company to apply every possible discount. Depending on the company, some discounts might not be offered in Albuquerque. To see insurance companies who offer discounts in New Mexico, click this link.
Situations that may require an agent's advice
When choosing insurance from an agent or online for your vehicles, there really is no perfect coverage plan. Every situation is different so your insurance should reflect that Here are some questions about coverages that can help discover if your situation would benefit from an agent's advice.
- Am I covered if I wreck a rental car?
- Should I have a commercial auto policy?
- How do I insure my teen driver?
- Can I get a multi-policy discount?
- Is my trailer covered?
- What if an uninsured driver hits me?
- What does UM/UIM cover?
If you're not sure about those questions but one or more may apply to you, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area. It's fast, free and you can get the answers you need.
Insurance agent or online?
A small number of people just want to get advice from a local agent and we recommend doing that Good agents are trained to spot inefficiencies and will help you if you have claims. The biggest benefit of comparing insurance prices online is you may find cheap insurance rates and still have an agent to talk to. Buying from and supporting local agencies is still important in Albuquerque.
Once you complete this quick form, your information is sent to participating agents in Albuquerque who will give competitive quotes and help you find cheaper coverage. It simplifies rate comparisons since you won't have to even leave your home since price quotes are sent immediately to you. If you have a need to compare rates from a specific insurance provider, you can always navigate to their website and fill out their quote form.
If you want to use a local insurance agency, you should know the types of agencies and how they are slightly different. Agents in Albuquerque can either be exclusive or independent. Either one can sell insurance policies, but it's important to point out how they differ since it could factor into the kind of agent you use.
Independent Agencies or Brokers
These type of agents are not locked into one company so as a result can place your coverage with a variety of different insurance companies enabling the ability to shop coverage around. If they find a cheaper price, they can switch companies in-house which makes it simple for you.
When searching for an agent, you absolutely need to get rate quotes from multiple independent agents to ensure the widest selection of prices.
The following are independent insurance agencies in Albuquerque that may be able to give you cheap rate quotes.
J. B. Martin Insurance Agency
8500 Menaul Blvd NE #345 - Albuquerque, NM 87112 - (505) 888-8846 - View Map
Webster Insurance Agency Inc
1201 Eubank Blvd Suite 3 - Albuquerque, NM 87112 - (505) 294-1497 - View Map
Exclusive Insurance Agents
Agents in the exclusive channel can only write with one company such as Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agencies are unable to provide prices from multiple companies so you need to shop around if the rates are high. They are well schooled on their products and sales techniques which helps them sell on service rather than price.
The following are exclusive insurance agents in Albuquerque willing to provide comparison quotes.
Ray Pratt - State Farm Insurance Agent
9998 Montgomery Blvd NE a - Albuquerque, NM 87111 - (505) 298-7579 - View Map
Choosing the best insurance agent needs to be determined by more than just the price. Any good agent in Albuquerque should know the answers to these questions.
- What insurance companies do they work with in Albuquerque?
- Do they offer claims assistance after hours?
- Will one accident increase rates?
- Are aftermarket or OEM parts used to repair vehicles?
- Will the company cover a rental car if your car is getting fixed?
- When do they do a full risk review?
- Do they have designations such as AIC, CPCU, or CIC?
Once you have answers to your satisfaction to all your questions and an acceptable price quote, most likely you have located an insurance agent that can service your policy. Just keep in mind you are able to cancel your coverage any time you want so don't assume that you are permanently stuck with the insurance policy for the entire policy term.
Does car insurance advertising bend the truth?
New Mexico consumers can't escape the ads for car insurance savings from the likes of Progressive, GEICO, Allstate and State Farm. All the companies say the same thing about how much you will save if you just switch your car insurance policy to them.
But how can every company make the same claim? Here is the trick they use.
Car insurance companies can use profiling for the type of driver that will add to their bottom line. An example of this type of insured might have to be married and over the age of 30, has no claims, and chooses high deductibles. Someone that meets those criteria gets the lowest rates and as a result will probably save money with a new company.
Potential insureds who fall short of the ideal profile will get a more expensive rate which usually ends up with the customer buying from someone else. If you pay attention, the ads say "customers that switch" not "everybody who quotes" save the amount stated. That is how insurance companies can advertise the savings.
This really emphasizes why you should do a quote comparison often. It is just not possible to predict which car insurance company will give you the biggest savings.
Persistence is the key to cheap rates
As you shop your coverage around, don't be tempted to buy poor coverage just to save money. In too many instances, an accident victim reduced liability limits or collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. The aim is to buy the best coverage you can find for the lowest price, but do not skimp to save money.
We covered many tips how you can save on Honda CR-V insurance in Albuquerque. The most important thing to understand is the more providers you compare, the better your chances of lowering your rates. You may even be surprised to find that the biggest savings come from a company that doesn't do a lot of advertising. These companies can often provide lower rates in certain areas compared to the large companies like Allstate, GEICO and Progressive.
For more information, link through to the resources below:
- Driving in Bad Weather (Insurance Information Institute)
- Who Has Affordable Auto Insurance Quotes for Postal Workers in New Mexico? (FAQ)
- What is the Cheapest Car Insurance in Las Vegas, New Mexico? (FAQ)
- What Insurance is Cheapest After a Speeding Ticket in New Mexico? (FAQ)
- How Much are Auto Insurance Quotes for Veterans in New Mexico? (FAQ)
- What Car Insurance is Cheapest in Gallup, New Mexico? (FAQ)
- What Car Insurance is Cheapest in North Valley, New Mexico? (FAQ)
- Who Has the Cheapest New Mexico Auto Insurance for Young Drivers? (FAQ)
- Insuring a Leased Car (Insurance Information Institute)
- Keeping Children Safe in Crashes Video (iihs.org)
- Vehicle Size and Weight FAQ (iihs.org)
- Auto Insurance 101 (About.com)