Searching for cheaper Toyota Camry insurance in Albuquerque? If you are new to online insurance, you may be confused thanks to the huge assortment of insurers who all claim to have the lowest rates for Toyota Camry insurance in Albuquerque.
It's hard to believe, but nearly 70% of customers renewed their policy with the same company for at least four years, and 38% of customers have never even compared quotes to find cheap rates. Albuquerque consumers can cut their rates by about $500 a year, but most undervalue the amount of savings they would get if they just switched companies.
Comparison shopping for affordable protection in Albuquerque is not as confusing as people think. Essentially every person who needs more affordable auto insurance will most likely find a lower price. Although New Mexico consumers can benefit from knowing how big insurance companies determine premium rates because rates fluctuate considerably.
Components of Your Toyota Camry Insurance Rates
A large part of saving on car insurance is knowing the different types of things that come into play when calculating the level of your policy premiums. If you know what controls the rates you pay, this enables informed choices that can earn you lower rates.
Listed below are just a few of the factors car insurance companies consider when setting rates.
Responsible drivers pay the best prices - Being a careful driver impacts your car insurance rates tremendously. Even one ticket may increase your cost by as much as thirty percent. Attentive drivers have lower premiums compared to bad drivers. Drivers who have received careless violations like reckless driving or DUI might be required by their state to prove financial responsibility with their state motor vehicle department in order to prevent a license revocation.
GPS tracking and theft deterrents reduce prices - Choosing a vehicle with a theft deterrent system can help lower your premiums. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping vehicle theft.
Liability coverage - A critical coverage on your policy, liability insurance is the protection when you are found liable for damages from an accident. It will provide legal defense which can cost thousands of dollars. This coverage is relatively inexpensive compared to physical damage coverage, so do not cut corners here.
Extra coverages can add up - There are quite a few add-on coverages that you can get tricked into buying on your car insurance policy. Add-on coverages like rental car reimbursement, towing, and extra equipment coverage are examples of these. They may seem good when deciding what coverages you need, but if they're wasting money remove them and pocket the money.
Certain jobs raise premiums - Occupational choices like doctors, architects and emergency personnel generally pay higher average rates due to high stress and lots of time spent at work. Conversely, occupations such as professors, historians and performers get better rates.
Toyota Camry insurance loss probability - Auto insurance companies factor in historical loss data as a way to help calculate a profitable premium price. Models that the data shows to have higher losses will cost more for specific coverages. The next table illustrates the actual insurance loss data for Toyota Camry vehicles.
For each coverage category, the statistical loss for all vehicles, as a total average, is represented as 100. Percentage numbers below 100 are indicative of better than average losses, while values that are 100 or greater indicate frequent claims or tendency to have higher losses.
Auto Insurance Loss Data for Toyota Camry Models
|Specific Toyota Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Camry Hybrid||124||100||110||118||127||96|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Most companies make it easy to get prices on their websites. Comparing Toyota Camry insurance rates online is pretty painless as you just type in your coverage information into a form. Once you submit the form, the system obtains your driving record and credit report and quotes a price.
This helps simplify price comparisons, and it's necessary to get many rate quotes if you are searching for a better rate.
To compare pricing, compare rates from the companies below. If you have coverage now, it's recommended you input coverages and limits as close as possible to your current policy. Using the same limits helps guarantee you will have comparison quotes using the same coverage and limits.
The companies shown below are our best choices to provide quotes in New Mexico. If multiple companies are shown, we recommend you click on several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rate quotes do not factor in specific Albuquerque garaging location which can alter premium rates noticeably.
Toyota Camry annual premiums for males versus females
The illustration below shows the comparison of Toyota Camry yearly insurance costs for male and female drivers. The rates are based on no tickets, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
Do drivers who switch really save $455 a year?
Popular car insurance providers such as Progressive, GEICO, Allstate and State Farm seem to constantly run ads in print and on television. They all seem to make the point that you can save if you change your policy. How does each company offer you a better deal on Toyota Camry insurance in Albuquerque? Here is how they do it.
Most companies have specific guidelines for the type of customer that will be a good risk. A good example of a profitable risk profile may be between the ages of 30 and 50, carries full coverage, and drives a vehicle with a low ISO rating. Any person who fits that profile will most likely get cheap premium rates and therefore will pay quite a bit less when switching companies.
Potential customers who fall short of the requirements will probably be forced to pay more expensive rates and this results in the customer buying from a different company. The ad wording is "people who switch" not "everybody who quotes" save that kind of money. That's the way insurance companies can confidently advertise the savings.
This really drives home the point why you really need to quote coverage with many companies. It is impossible to predict which company will give you the biggest savings.
Why auto insurance is not optional
Even though Albuquerque Camry insurance rates can get expensive, maintaining insurance may be mandatory for several reasons.
- Just about all states have mandatory liability insurance requirements which means the state requires a specific level of liability protection if you want to drive legally. 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 you have a lien on your Toyota Camry, it's guaranteed your bank will require that you buy full coverage to guarantee loan repayment. If the policy lapses, the bank may insure your Toyota at a more expensive rate and force you to reimburse them the higher premium.
- Auto insurance preserves both your car and your personal assets. Insurance will also pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of having auto insurance more than cancel out the cost, especially with large liability claims. In a recent study of 1,000 drivers, the average customer overpays more than $800 each year so compare rate quotes once a year at a minimum to save money.
Do you qualify for discounts on Toyota Camry insurance in Albuquerque?
Companies don't always list all possible discounts in an easy-to-find place, so the next list breaks down some of the best known and also the more inconspicuous discounts that you may qualify for.
- Multiple Cars - Buying a policy with multiple cars or trucks on the same insurance policy could earn a price break for each car.
- College Student Discount - Youth drivers who live away from home at college without a vehicle on campus may be able to be covered for less.
- Defensive Driver Discount - Taking time to complete a safe driver course could save 5% or more and make you a better driver.
- Telematics Data - People who choose to allow their company to look at driving habits by using a small device installed in their vehicle like In-Drive from State Farm and Progressive's Snapshot might see lower rates if they show good driving skills.
- Claim-Free Discount - Albuquerque drivers who stay claim-free have much lower rates in comparison with frequent claim filers.
- Discount for Life Insurance - Larger insurance companies have lower rates if you buy some life insurance in addition to your auto policy.
You should keep in mind that most discount credits are not given to all coverage premiums. Some only reduce individual premiums such as medical payments or collision. Even though it appears having all the discounts means you get insurance for free, companies don't profit that way.
A few companies who might offer these money-saving discounts include:
When getting free Albuquerque auto insurance quotes, it's a good idea to each company what discounts are available to you. Discounts might not be offered on policies in Albuquerque. To see a list of insurance companies offering insurance discounts in New Mexico, click here to view.
Insurance is available from your local insurance agencies
A lot of people still like to get professional advice from a licensed agent and often times that is recommended One of the best bonuses of comparing insurance online is that you can find the best rates and still have a local agent. Buying insurance from neighborhood insurance agencies is important particularly in Albuquerque.
After completing this form (opens in new window), your information is emailed to participating agents in Albuquerque who will give you bids and help you find cheaper coverage. It simplifies rate comparisons since you won't have to search for any insurance agencies since price quotes are sent to the email address you provide. Get lower rates and a licensed agent to talk to. If you want to compare prices from a specific insurance provider, you can always visit that company's website and give them your coverage information.
Types of auto insurance agents in Albuquerque
When looking for a good Albuquerque insurance agent, you should know the types of insurance agents that you can select. Agents can be described as either independent or exclusive.
Independent Agents (or Brokers)
Agents that choose to be independent do not write with just one company and that enables them to quote your coverage with an assortment of companies and get you the best rates possible. If they find a lower price, they simply switch companies in-house and the insured can keep the same agent.
When comparison shopping, we highly recommend that you get rate quotes from independent agents in order to compare the most rates. Most independent agents also contract with smaller regional carriers which may provide better rates.
Listed below are independent agencies in Albuquerque who may be able to give you free price quotes.
- Daniels Insurance Inc
320 Gold Ave SW # 700 - Albuquerque, NM 87102 - (505) 766-9676 - View Map
- Menicucci Insurance Llc
2116 Vista Oeste NW Bldg 5 - Albuquerque, NM 87120 - (505) 883-3683 - View Map
- Sunset Insurance Corporation
1905 San Mateo Blvd NE - Albuquerque, NM 87110 - (505) 247-2578 - View Map
Exclusive Insurance Agencies
Agents that choose to be exclusive generally can only insure with one company and examples are State Farm, Allstate and AAA. They usually cannot provide prices from multiple companies so they are skilled at selling on more than just price. These agents are usually well trained on their products and sales techniques and that can be a competitive advantage. Some people will only use the same exclusive agent partially due to the brand legacy rather than low price.
Shown below are exclusive agents in Albuquerque who can help you get rate quotes.
- Erin Carnett - State Farm Insurance Agent
10200 Golf Course Rd NW a - Albuquerque, NM 87114 - (505) 898-4273 - View Map
- Michele Romero - State Farm Insurance Agent
3904 Carlisle Blvd NE c - Albuquerque, NM 87107 - (505) 881-7000 - View Map
- Sam Sample - State Farm Insurance Agent
3700 Osuna Rd NE #514 - Albuquerque, NM 87109 - (505) 341-1000 - View Map
Finding the right auto insurance agent needs to be determined by more than just the premium amount. Any agent in Albuquerque should have no problem answering these questions:
- How long has their agency been open in Albuquerque?
- What company do they have the most business with?
- Is the agent CPCU or CIC certified?
- What insurance companies do they recommend if they are an independent agent?
- When do they do a full risk review?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Do the companies they represent have a solid financial rating?
Insurance can be complex
When choosing the right insurance coverage, there is no cookie cutter policy. Your financial needs are unique.
These are some specific questions can help discover whether your personal situation might need professional guidance.
- How much liability do I need to cover my assets?
- How much cheaper are high deductibles?
- How much liability insurance is required?
- Does my Toyota Camry qualify for pleasure use?
- When does my teenage driver need to be added to my policy?
- What can I do if my company denied a claim?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Should I buy only the required New Mexico minimum liability coverage?
- What if I total my Toyota Camry and owe more than it's worth?
If it's difficult to answer those questions, you might consider talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form.
You can lower your insurance rates
When searching for low cost Albuquerque auto insurance quotes, it's very important that you do not skimp on coverage in order to save money. In too many instances, someone dropped collision coverage and discovered at claim time they didn't have enough coverage. Your strategy should be to buy the best coverage you can find at the best price, but do not sacrifice coverage to save money.
In this article, we presented many ways to reduce Toyota Camry insurance prices online in Albuquerque. The most important thing to understand is the more providers you compare, the better chance you'll have of finding inexpensive Albuquerque auto insurance quotes. Drivers may even discover the biggest savings come from an unexpected company.
Drivers change insurance companies for many reasons like delays in paying claims, poor customer service, delays in responding to claim requests and even unfair underwriting practices. Whatever your reason, finding a great new company is actually quite simple.
More information is located on the following sites:
- Bodily Injury Coverage (Liberty Mutual)
- What Car Insurance is Cheapest in Albuquerque, New Mexico? (FAQ)
- Who Has Cheap New Mexico Auto Insurance Quotes for a Ford Escape? (FAQ)
- Who Has Cheap New Mexico Auto Insurance for Drivers Over Age 60? (FAQ)
- What Auto Insurance is Cheapest for a Subaru Forester in New Mexico? (FAQ)
- How Much are Auto Insurance Quotes for Used Cars in New Mexico? (FAQ)
- Top Signs Your Brakes are Giving Out (State Farm)
- Insuring a Leased Car (Insurance Information Institute)
- Vehicle Size and Weight FAQ (iihs.org)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)