Do you want to stop overpaying and find lower-priced insurance rates in Clovis, NM? When trying to find lower-cost insurance, are you confused by the wide range of insurance choices in Clovis? You're not alone. There are such a large number of options that it can turn into hard work to find better insurance rates. Clovis is an excellent city in which to live, but high insurance premiums can make it difficult for lots of drivers to be able to afford adequate coverage.

Unbelievable but true, most consumers have remained with the same insurance company for four years or more, and approximately 38% of consumers have never compared rates to find cheap insurance. With the average insurance premium being $1,244, New Mexico drivers can save $474 each year, but they don't invest the time required to compare rates and save money.

If you are already insured, you will surely be able to reduce the price you pay using this strategy. The goal of this article is to teach you a little about how insurance works and some money-saving tips. But New Mexico vehicle owners must comprehend the way companies market insurance on the web because rates are impacted by many factors.

When price shopping your coverage, comparing all the rates in your area provides better odds of finding more affordable insurance. Some smaller insurers do not give rate quotes online, so it's recommended that you also compare prices from them, too.

The companies in the list below offer price quotes in New Mexico. If multiple companies are listed, we suggest you get prices from several of them in order to get a fair rate comparison.

Insurance Price Estimates for Popular Vehicles in Clovis
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Malibu LT $1,148 $574 $96
Chevrolet Silverado Crew Cab Hybrid 4WD $1,638 $819 $137
Dodge Ram Crew Cab Laramie 4WD $1,228 $614 $102
Ford Edge Limited 2WD $816 $408 $68
Ford Escape Limited 2WD $848 $424 $71
Ford F-150 STX Super Cab 2WD $1,022 $511 $85
Ford Focus SES 2-Dr Coupe $1,254 $627 $105
Honda Accord LX-S 2-Dr Coupe $1,236 $618 $103
Honda CR-V EX 4WD $660 $330 $55
Honda Civic LX 4-Dr Sedan $880 $440 $73
Jeep Wrangler Unlimited Sahara 4WD 4-Dr $1,002 $501 $84
Nissan Altima 3.5 SR 4-Dr Sedan $1,080 $540 $90
Nissan Rogue S AWD $1,034 $517 $86
Toyota Camry SE $1,186 $593 $99
Toyota Corolla LE $1,132 $566 $94
Toyota RAV4 Sport 4WD $1,012 $506 $84
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Price estimates do not factor in specific location information which can change premiums considerably.

Difference between full coverage and liability only rates

The example below shows the difference between Chevrolet Malibu premium costs with and without full coverage. The rates are based on no violations or accidents, $250 deductibles, single male driver, and no policy discounts are applied.

Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.

When to stop buying full coverage

There is no clear-cut rule that works best for making the decision to drop comp and collision coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than about 10% of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let's say your Chevrolet Malibu replacement value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled, you would only receive $6,000 after the deductible is paid. If you are currently paying more than $600 annually to have full coverage, then it could be time to drop full coverage.

There are a few situations where only buying liability is not a good plan. If you still have a loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can't afford to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

When to drop full coverage

There is no clear-cut rule that is best for determining when to drop physical damage insurance, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let's assume your Chevrolet Cruze replacement cost is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,000 after paying your deductible. If you are paying in excess of $800 annually for your policy with full coverage, then you might consider buying liability only.

There are a few cases where eliminating full coverage is not advised. If you still owe money on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should not drop full coverage.

How accidents and violations affect rates

The diagram below shows how speeding tickets and at-fault accidents impact Honda Pilot premium costs for each age group. Data assumes a single male driver, comp and collision included, $100 deductibles, and no discounts are factored in.

Honda Pilot rates are for example purposes only. To get rates for your specific vehicle, click here.

Here's why car insurance is not optional

Even though it's not necessarily cheap to insure a vehicle in Clovis, maintaining insurance serves a purpose in several ways.

The benefits of carrying enough insurance more than cancel out the cost, particularly when you have a large claim. According to a recent study, the average American driver overpays as much as $865 each year so you should quote your policy with other companies at every policy renewal to help ensure money is not being wasted.

What determines auto insurance prices?

Lots of things are used in the calculation when you get a price on insurance. Some factors are common sense such as traffic violations, but some are more transparent such as whether you are married or your financial responsibility. Smart consumers have a good feel for some of the factors that are used to determine your policy premiums. When you understand what impacts premium levels, this enables informed choices that can help you get lower rates.

Lower-cost Clovis car insurance rates with discounts

Companies offering auto insurance do not advertise every policy discount very clearly, so the following is a list of some of the best known and the harder-to-find credits that may apply to you.Save money with discounts

As a disclaimer on discounts, some credits don't apply to all coverage premiums. Most cut the cost of specific coverages such as liability and collision coverage. So even though you would think you would end up receiving a 100% discount, company stockholders wouldn't be very happy.

Popular car insurance companies and a summarized list of policyholder discounts are detailed below.

If you need inexpensive Clovis auto insurance quotes, ask every prospective company how many discounts you can get. Some discounts listed above may not apply to policies everywhere. To choose companies who offer cheap car insurance quotes in Clovis, click here to view.

Tailor your auto insurance coverage to you

Always keep in mind that when comparing your policy, there is no one size fits all plan. Every situation is different.Higher deductibles save money

For example, these questions can aid in determining if you would benefit from an agent's advice.

If you don't know the answers to these questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form.

Compare rate quotes but buy from a local Clovis insurance agent

A small number of people would rather visit with an insurance agent and that is just fine! One of the benefits of comparing rates online is that drivers can save money and get cheap car insurance quotes and still buy from a local agent.

Insurance agents in ClovisTo find an agent, once you fill out this simple form, your insurance coverage information is immediately sent to local insurance agents who can give free rate quotes for your business. It makes it easy because there is no need to do any legwork since price quotes are sent to your email. It's the lowest rates without having to waste a lot of time. If you need to get a price quote from a specific company, feel free to visit that company's website and fill out their quote form.

Choosing an provider requires you to look at more than just a low price. These are some valid questions you should ask.

Once you have received positive responses as well as offering an affordable quote, chances are good that you have found a company that is a good match to properly service your car insurance policy.

One last note

Consumers change insurance companies for a number of reasons such as not issuing a premium refund, questionable increases in premium, high rates after DUI convictions and poor customer service. It doesn't matter why you want to switch choosing a new insurance company can be less work than you think.

You just learned many ways to reduce auto insurance prices online in Clovis. The key concept to understand is the more providers you compare, the better likelihood of getting affordable Clovis auto insurance quotes. You may even discover the lowest prices come from an unexpected company.

As you prepare to switch companies, make sure you don't skimp on coverage in order to save money. There have been many cases where drivers have reduced full coverage and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. The goal is to get the best coverage possible for the lowest price, but don't skip important coverages to save money.

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