Car Insurance in Rio Rancho – 5 Discounts Consumers are Missing

Are you overwhelmed by the wide range of car insurance companies in Rio Rancho? You’re not the only one! There are so many options that it can turn into a challenge to locate the lowest price.

It’s a good habit to shop coverage around every six months because insurance rates change regularly. Just because you had the best rates six months ago the chances are good that you can find a lower rate today. Starting right now, block out anything you think you know about car insurance because we’re going to show you how to use the internet to save on car insurance.

Compare Quotes for Rio Rancho Car Insurance

All major car insurance companies allow you to get prices for coverage on the web. This process doesn’t take a lot of time as you just enter as detailed in the form. Once entered, the system automatically orders your credit score and driving record and returns a price quote determined by many factors.

Online quotes helps simplify price comparisons, but the time it takes to visit multiple sites and type in the same information can get tiresome after awhile. But it’s very important to perform this step if you are searching for the best price possible.

A quicker way to locate the lowest prices requires only one form to obtain quotes from more than one company. It saves time, helps eliminate reptitive entry, and makes online shopping much easier. Immediately after you send the form, it is quoted and you can choose any or none of the quotes returned. If a lower price is quoted, it’s easy to complete the application and buy the policy. This process takes just a few minutes to complete and may result in a nice savings.

To quickly fill out one form to compare multiple rates now, simply click here to open in new window and fill out the form. If you have coverage now, it’s recommended that you enter your coverages exactly as shown on your declarations page. Doing this assures you are getting a rate comparison using the same coverage and limits.

Discounts can save BIG

Companies don’t always advertise all available discounts very clearly, so the following is a list of both well-publicized and the harder-to-find car insurance savings.

  • Safe Driver Discount – Drivers who avoid accidents may receive a discount up to 45% less than drivers with accidents.
  • New Car Discount – Putting insurance coverage on a new car is cheaper compared to insuring an older model.
  • Service Members Pay Less – Having a deployed family member can result in better rates.
  • Paperless Signup – Certain companies may give you up to $50 for buying a policy and signing up digitally online.
  • Accident Free – Claim-free drivers can earn big discounts when compared to accident-prone drivers.

Drivers should understand that some of the credits will not apply the the whole policy. Some only apply to individual premiums such as collision or personal injury protection. So when it seems like adding up those discounts means a free policy, you won’t be that lucky.

Aren’t my neighborhood agents an option?

Some consumers would prefer to visit with an insurance agent and that is just fine! The biggest benefit of comparing rates online is you may find better rates and still choose a local agent.

After completing this quick form, your insurance coverage information is submitted to agents in your area who will battle for your coverage. There is no need to visit any agencies as quotes are delivered directly to your email. It doesn’t get any easier! You can find the lowest rates AND an agent nearby.

Deciding on a company should depend on more than just the price. These questions are important to ask:

  • How are they compensated?
  • Who are their largest clients?
  • Does the agency have a good rating with the Better Business Bureau?
  • Is the agent and/or agency licensed to do business in New Mexico?
  • Will their companies depreciate repairs to your car based on the mileage?
  • Do they carry Errors and Omissions coverage?

Choose an insurance agent wisely

If you’re trying to find a good insurance agency, you need to know there are two different agency structures from which to choose. Agencies in Rio Rancho can either be captive or independent (non-captive).

Captive Insurance Agents

Captive insurance agents have only one company to place business with and examples are American Family, State Farm and Allstate. They usually cannot place coverage with different providers so they have to upsell other benefits. Captives are trained well on their products and sales techniques which helps them compete with independent agents. Consumers often buy from captive agents mostly because of loyalty to the company and the convenience of having all coverages with one company.

Below is a short list of captive agents in Rio Rancho that are able to give rate quotes.

  • Allstate Insurance – 1594 Sara Rd SE # K – Rio Rancho, NM 87124 – (505) 892-3100
  • State Farm Insurance – 7820 Enchanted Hls Dr NE # F – Rio Rancho, NM 87144 – (505) 771-8872
  • Farmers Insurance Group – 57 Castle Rock Rd SE – Rio Rancho, NM 87124 – (505) 892-1225
Independent Agencies or Brokers

These agents are not employed by any specific company but rather can write business with many different companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, an independent agent can move your coverage and you won’t have to switch agencies.

When comparing rates, we recommend you get quotes from at least one independent agent for maximum quote selection. Most have the option of insuring with smaller companies who may have lower rates.

Below are independent agents in Rio Rancho that can give you comparison quotes.

  • Louis E Malherbe Agency – 333 Rio Rancho Dr NE # 100 – Rio Rancho, NM 87124 – (505) 896-0180
  • Franklin Cabasier Insurance – 2345 Southern Blvd SE # C4 – Rio Rancho, NM 87124 – (505) 891-8733
  • Farmer’s Insurance – 2105 Golf Course Rd SE – Rio Rancho, NM 87124 – (505) 892-4313
  • Chris Espinosa Agency – 1708 Southern Blvd SE # A – Rio Rancho, NM 87124 – (505) 896-5566
  • Chris Espinosa Agency – 1708 Southern Blvd SE – Rio Rancho, NM 87124 – (505) 891-2200

For a complete listing of licensed insurance agents in Rio Rancho, go to this page.

After receiving positive feedback to these questions as well as a affordable price, you may have just found a car insurance agent that meets your needs to service your policy.

You are unique and your car insurance should be too

When it comes to buying adequate coverage for your personal vehicles, there is no single plan that fits everyone. Every situation is different.

For example, these questions could help you determine whether you might need professional guidance.

  • Can I still get insurance after a DUI?
  • Do I qualify for additional discounts?
  • Is my babysitter covered when using my vehicle?
  • Is my teen driver covered when they drive my company car?
  • Is my vehicle covered for flood damage?
  • What are the financial responsibility laws in New Mexico?

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, fill out this quick form.

Additional detailed information can be read at the New Mexico Insurance Division website. Consumers can find a variety of consumer forms, find out which companies have the most complaints, and view agent and company licensing information.

Are car insurance companies telling the truth?

Car insurance companies such as Progressive, GEICO, Allstate and State Farm continually stream ads on television and other media. They all seem to have a common claim about savings after switching to them. How can each company claim to save you money?

All companies have a preferred profile for the driver that earns them a profit. An example of a driver they prefer might be a mature driver, has no prior claims, and has a high credit rating. Any new insured that hits that “sweet spot” gets the lowest rates and as a result will probably save quite a bit of money when switching.

Potential insureds who fall outside this ideal profile will be quoted higher prices and ends up with the customer not buying. The ad wording is “drivers who switch” not “everyone that quotes” save money. That’s why insurance companies can make those claims. This emphasizes why drivers should get as many comparisons as possible. It’s impossible to know which company will provide you with the cheapest rates.

Educate yourself about car insurance coverages

Knowing the specifics of your policy aids in choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy.

Comprehensive car insurance

This coverage will pay to fix 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 insurance covers claims like hitting a bird, fire damage and damage from flooding. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Liability coverages

Liability coverage can cover damage or injury you incur to other people or property that is your fault. This insurance protects YOU against claims from other people. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 50/100/50 that translate to $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability insurance covers claims like medical expenses, repair costs for stationary objects and emergency aid. How much coverage you buy is a decision to put some thought into, but consider buying as much as you can afford. New Mexico state minimum liability requirements are 25,000/50,000/10,000 but drivers should carry higher limits.

Rio Rancho New Mexico insurance prices

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses like doctor visits, rehabilitation expenses, surgery and ambulance fees. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Coverage for uninsured or underinsured drivers

This provides protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many New Mexico drivers carry very low liability coverage limits (25/50/10 in New Mexico), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.

Auto collision coverage

Collision coverage pays for damage to your vehicle caused by collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims like hitting a mailbox, driving through your garage door, damaging your car on a curb and colliding with a tree. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. You can also choose a higher deductible to save money on collision insurance.

Summing up your car insurance search

As you prepare to switch companies, never buy less coverage just to save a little money. There are too many instances where consumers will sacrifice uninsured motorist or liability limits and found out when filing a claim that the few dollars in savings costed them thousands. The aim is to buy a smart amount of coverage at the best price.

We covered a lot of tips how to lower your car insurance rates. It’s most important to understand that the more quotes you get, the better likelihood of reducing your rate. Drivers may discover the lowest rates come from some of the lesser-known companies.

Cheap car insurance is attainable both online as well as from independent agents in Rio Rancho, so you should be comparing quotes from both in order to have the best chance of saving money. Some car insurance companies don’t offer the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.