Top 9 Ways to Get Lower Rates on Car Insurance in Corrales New Mexico

Perplexed by the number of car insurance options in Corrales? Many other consumers are too. You have so many options available that it can turn into more work than you anticipated to locate the lowest price.

Discounts are available to cut your rates

Auto insurance companies don’t necessarily list every discount in a way that’s easy to find, so we researched both the well known and also the lesser-known ways to save on car insurance. If you aren’t receiving every discount you deserve, you’re just leaving money on the table.

• New Vehicle Savings – Putting insurance coverage on a new car can save up to 30% since new cars are generally safer.
• Braking Control Discount – Anti-lock brake equipped vehicles prevent accidents and therefore earn up to a 10% discount.
• Good Student Discount – Performing well in school can be rewarded with saving of up to 25%. The good student discount can last until age 25.
• No Charge for an Accident – Some insurance companies will allow you to have one accident before your rates go up as long as you don’t have any claims for a set time period.
• Organization Discounts – Being a member of a professional or civic organization could trigger savings on your policy.
• Multi-policy Discount – If you insure your home and vehicles with one insurance company you will save up to 20% off your total premium.
• Driver’s Ed – Cut your cost by having your teen driver take driver’s ed class in high school.
• Fewer Miles Equal More Savings – Keeping the miles down could qualify for lower rates on the low mileage vehicles.
• Homeowners Pay Less – Simply owning a home may earn you a small savings because of the fact that having a home requires personal responsibility.

It’s important to understand that most discounts do not apply to the entire cost. The majority will only reduce the price of certain insurance coverages like medical payments or collision. Just because you may think adding up those discounts means a free policy, car insurance companies aren’t that generous.

For a list of companies offering car insurance discounts in New Mexico, click here.

Corrales Car Insurance Prices Online

Most major insurance companies such as Allstate, GEICO and Progressive give insurance quotes on their websites. Getting quotes is quite simple as you simply enter the coverages you want into the quote form. When the form is submitted, the system will order your driving and credit reports and gives you a price quote.

Being able to quote online simplifies rate comparisons, but the process of having to visit different websites and fill out multiple forms can get tiresome after awhile. Unfortunately, it is important to get many rate quotes in order to get a lower rate.

The easy way to compare rates

A quicker way to locate the lowest prices uses one simple form that analyzes rates from many companies. This type of form saves time, eliminates form submissions, and makes rate comparisons much easier to do. Immediately after submitting the form, it is quoted and you can choose any one of the quotes that you receive. If the quotes result in lower rates, you can click and sign and buy the new coverage. It can be completed in a matter of minutes and can result in significant savings.

To save time and compare rates now, simply click here to open in new window and complete the simple form. If you have your current policy handy, we recommend you complete the form with the coverages as shown on your current policy. This helps ensure you’re receiving an apples-to-apples comparison for similar coverage.

Is there truth in advertising?

New Mexico drivers can’t ignore all the ads for the lowest price auto insurance from companies such as Allstate, GEICO and Progressive. They all say the same thing about savings if you switch your policy.

How does each company say the same thing?

Different companies can use profiling for the right customer that is profitable for them. For instance, a profitable customer could be between the ages of 30 and 50, is a homeowner, and drives less than 7,500 miles a year. A propective insured who meets those qualifications gets the lowest rates and most likely will save when switching.

Consumers who don’t qualify for the “perfect” profile will be charged a more expensive rate which usually ends up with business not being written. Company advertisements say “drivers who switch” not “people who quote” save that kind of money. That is how companies can truthfully make those claims. That is why drivers should get a wide range of price quotes. It is impossible to predict the company that will provide you with the cheapest rates.

The coverage is in the details

Having a good grasp of a car insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. Car insurance terms can be ambiguous and nobody wants to actually read their policy.

Liability auto insurance – Liability coverage protects you from damages or injuries you inflict on a person or their property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/25 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property.

Liability coverage protects against things such as pain and suffering, bail bonds, medical services and repair bills for other people’s vehicles. The amount of liability coverage you purchase is your choice, but buy higher limits if possible. New Mexico requires minimum liability limits of 25,000/50,000/10,000 but you should consider buying more liability than the minimum.

Collision coverages – This coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision coverage protects against claims such as hitting a mailbox, crashing into a ditch, scraping a guard rail, driving through your garage door and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible to bring the cost down.

UM/UIM Coverage – Your UM/UIM coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your vehicle.

Since a lot of drivers have only the minimum liability required by law (25/50/10), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family.

Medical costs insurance – Med pay and PIP coverage pay for short-term medical expenses like prosthetic devices, ambulance fees and hospital visits. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive or Other Than Collision – Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like damage from getting keyed, falling objects and fire damage. The most a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

And the best car insurance company is…

You just read many ideas to save on car insurance. The most important thing to understand is the more companies you get rates for, the better your chances of lowering your rates. Consumers may even find the biggest savings come from a small mutual company.

The cheapest car insurance is definitely available from both online companies and also from your neighborhood Corrales agents, and you should be comparing both to have the best chance of lowering rates. Some insurance providers may not provide online quoting and these small, regional companies work with independent agents.

When shopping online for car insurance, you should never sacrifice coverage to reduce premiums. There have been many situations where an insured dropped liability coverage limits only to regret that they should have had better coverage. Your focus should be to buy enough coverage at an affordable rate while not skimping on critical coverages.

Learn more today

More tips and info about car insurance is available at the New Mexico Insurance Division website. Consumers can get help finding coverage, find a variety of consumer forms, and report car insurance fraud.