Insurance for Chevy ColoradoTrying to find better insurance prices for a new or used Chevy Colorado in New Mexico can turn out to be a painful process, but you can use a few tricks to make it easier.

There is a better way to compare insurance rates and you need to know the quickest way to get price quotes for a new or used Chevy and locate the cheapest rates from Albuquerque insurance agents and online providers.

Statistics show that a large majority of consumers have remained with the same insurance company for over three years, and nearly half have never compared rate quotes at all. New Mexico consumers can cut their rates by approximately $470 a year by just comparing quotes, but they just assume it takes a lot of time to find cheaper insurance rates.

It is always a good idea to take a look at other company's rates before your policy renews because insurance prices tend to go up over time. If you had the best deal on Chevy Colorado insurance in Albuquerque last year there is a good chance you can find better premium rates now. You can find a lot of misleading information regarding Colorado insurance on the internet, but you can learn a bunch of ideas how to find affordable insurance in Albuquerque.

If you are already insured or just want a better rate, use these money-saving tips to find the best rates without reducing coverage. Shopping around for affordable coverage in Albuquerque is not as confusing as people think. Smart buyers only have to learn the tricks to compare rate quotes online.

Companies offering cheap Chevy Colorado rates in Albuquerque, NM

The following companies have been selected to offer free rate quotes in Albuquerque, NM. If the list has multiple companies, we suggest you click on several of them to get the most competitive price.

Chevrolet Colorado Insurance Rates in Albuquerque, NM
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Colorado LT 2WD $210 $344 $422 $24 $126 $1,126 $94
Colorado LT Extended Cab 2WD $130 $258 $328 $20 $98 $834 $70
Colorado LT 4WD $188 $350 $262 $16 $78 $894 $75
Colorado LT Crew Cab 2WD $160 $312 $332 $20 $100 $924 $77
Colorado LT Extended Cab 4WD $168 $286 $258 $16 $78 $806 $67
Colorado LT Crew Cab 4WD $120 $224 $262 $16 $78 $700 $58
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Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Table data does not factor in your specific Albuquerque location which can increase or decrease premiums greatly.

Full coverage rates compared to liability-only

The diagram below visualizes the comparison of Chevrolet Colorado car insurance costs when comparing full coverage to liability only. Data assumes no accidents or driving violations, $100 deductibles, single female driver, and no discounts are applied to the premium.

Should you pay for full coverage or liability only?

There isn't a steadfast formula to stop buying full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.

For example, let's pretend your Chevrolet Colorado replacement cost is $8,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after paying the physical damage deductible. If you are paying over $700 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.

There are some situations where eliminating full coverage is not financially feasible. If you still owe money on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can't afford to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.

Physical damage deductibles

When buying car insurance, a common question is which deductibles should you choose. The following tables show how much more you'll pay when you buy lower versus higher physical damage coverage deductibles. The first set of rates uses a $250 physical damage coverage deductible and the second price chart uses a $1,000 deductible.

Chevrolet Colorado insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Colorado LT 2WD $184 $344 $322 $20 $96 $991 $83
Colorado LT Extended Cab 2WD $216 $420 $322 $20 $96 $1,099 $92
Colorado LT 4WD $216 $344 $274 $16 $82 $957 $80
Colorado LT Crew Cab 2WD $216 $420 $322 $20 $96 $1,099 $92
Colorado LT Extended Cab 4WD $216 $344 $274 $16 $82 $957 $80
Colorado LT Crew Cab 4WD $248 $420 $274 $16 $82 $1,065 $89
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Chevrolet Colorado insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Colorado LT 2WD $114 $216 $322 $20 $96 $768 $64
Colorado LT Extended Cab 2WD $134 $264 $322 $20 $96 $836 $70
Colorado LT 4WD $134 $216 $274 $16 $82 $722 $60
Colorado LT Crew Cab 2WD $134 $264 $322 $20 $96 $836 $70
Colorado LT Extended Cab 4WD $134 $216 $274 $16 $82 $722 $60
Colorado LT Crew Cab 4WD $154 $264 $274 $16 $82 $790 $66
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Rate quotes do not factor in vehicle location which can lower or raise price quotes substantially.

Based on this data, using a $250 deductible will cost you roughly $21 more each month or $252 each year than opting for the higher $1,000 deductible. Due to the fact that you would have to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go at a minimum 36 months between claims, you would probably come out ahead if you decide on a higher deductible.

Lower Your Albuquerque Insurance Costs

The best way to find cheaper auto insurance is to take a look at some of the factors that help determine the price you pay for auto insurance. If you have a feel for what impacts premium levels, this helps enable you to make changes that could help you find much lower annual insurance costs.

Men pay higher rates - Statistics demonstrate women tend to be less risk to insure than men. Now that doesn't mean men are worse drivers. They both cause at-fault accidents at about the same rate, but the men get into accidents with more damage. They also have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly.

Gaps in coverage mean higher auto insurance rates - Driving without insurance coverage in place is a misdemeanor and you may have a hard time finding new coverage because you let your insurance expire. Not only will rates go up, the inability to provide proof of insurance may earn you fines and jail time.

Get hitched and get better rates - Having a spouse can get you a discount on your auto insurance bill. It translates into being more mature and responsible and it's proven that drivers who are married are more cautious.

Frequent insurance claims will cost you more - Companies in New Mexico give lower rates to insureds who only file infrequent claims. If you're an insured who likes to file claims you can expect either policy cancellation or increased premiums. Auto insurance is intended to be relied upon for the bigger claims that can't be paid out-of-pocket.

Insurance loss data for Chevy Colorado vehicles - Insurance companies use statistical claims data to help calculate premium rates. Vehicles that the data shows to have higher frequency or amount of claims will be charged more to insure. The table shown below demonstrates the historical insurance loss data for Chevy Colorado vehicles.

For each policy coverage type, the claim probability for all vehicles, regardless of make or model, equals 100. Values below 100 mean the vehicle has better than average losses, while values over 100 point to more frequent losses or an increased probability of a larger loss.

Insurance Loss Ratings for Chevrolet Colorado Vehicles

Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Colorado Crew Cab 2WD 73 57 64
Chevrolet Colorado Crew Cab 4WD 90 89 86 67
Chevrolet Colorado Ext Cab 2WD 55
Chevrolet Colorado Ext Cab 4WD 67
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Discounts can help lower premiums on Chevy Colorado insurance in Albuquerque

Car insurance is expensive, but there's a good chance there are discounts that many consumers don't even know exist. Certain discounts will be triggered automatically when you quote, but a few must be requested specifically before they will apply.Car insurance discounts

While discounts sound great, it's important to understand that some of the credits will not apply to the overall cost of the policy. Most only apply to specific coverage prices like comprehensive or collision. So when the math indicates all those discounts means the company will pay you, car insurance companies aren't that generous.

Popular car insurance companies and their possible discounts are:

Before purchasing a policy, check with all the companies to give you their best rates. Discounts might not be offered on policies in Albuquerque. If you would like to view insurers with the best Chevy Colorado insurance discounts in New Mexico, click here to view.

Local neighborhood Albuquerque car insurance agents

Some people still prefer to go talk to an agent and that is recommended in a lot of cases Good insurance agents are trained risk managers and give you someone to call. A good thing about getting free rate quotes online is that you can find lower rates and also buy local. And buying from small agencies is definitely important in Albuquerque.

To help locate an agent, after submitting this short form, the quote information is immediately sent to agents in your area that can give you free Albuquerque auto insurance quotes for your coverage. It simplifies rate comparisons since you won't have to search for an agent since price quotes are sent directly to you. If you need to get a comparison quote for a specific company, you can always find their quoting web page and fill out the quote form the provide.

Best auto insurance agent in Albuquerque

When narrowing the list to find a local agent, it can be helpful to understand the types of insurance agents that you can choose from. Agents can be classified as either exclusive agents or independent agents. Either can do a good job, but it's good to learn how they are different since it can impact the selection process.

Independent Agencies or Brokers

Agents of this type can quote rates with many companies so as a result can place your coverage with lots of companies enabling the ability to shop coverage around. If premiums increase, they simply move the coverage in-house and you can keep the same agent.

When comparison shopping, we recommend you get several quotes from independent agents in order to compare the most rates. Many independent agencies also insure through mutual insurance companies which could offer lower prices.

Listed below is a partial list of independent agencies in Albuquerque that can possibly get you price quote information.

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Exclusive Car Insurance Agents

These type of agents normally can only provide a single company's rates and examples are Allstate, AAA, Farmers Insurance, and State Farm. They generally cannot give you multiple price quotes so keep that in mind. These agents receive a lot of sales training in insurance sales and that enables them to sell even at higher rates. Drivers often purchase coverage from exclusives mainly due to the brand name and the convenience of having a single billing for all their coverages.

Below are Albuquerque exclusive agents that can give you price quote information.

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Finding a good car insurance agent requires you to look at more than just the quoted price. These are valid questions to ask:

Cheaper car insurance prices are available

The cheapest Chevy Colorado insurance in Albuquerque is possible from both online companies and with local Albuquerque insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some companies do not provide price quotes online and many times these smaller providers prefer to sell through local independent agents.

While you're price shopping online, it's a bad idea to skimp on critical coverages to save a buck or two. There are a lot of situations where an accident victim reduced comprehensive coverage or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your goal is to purchase plenty of coverage at the best possible price, but do not sacrifice coverage to save money.

Insureds switch companies for many reasons like denial of a claim, being labeled a high risk driver, lack of trust in their agent or an unsatisfactory settlement offer. It doesn't matter what your reason, switching companies is easier than you think.

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