Finding affordable Santa Fe auto insurance is difficult for beginners to shopping for insurance online. Consumers have so many options that it can turn into a big hassle to find lower rates in Santa Fe.
If you have a policy now or are just looking to switch companies, you can learn to get lower rates while maintaining coverages. This article will help you learn how to effectively get price quotes and some tricks to saving. New Mexico consumers just need to learn the best way to get comparison quotes online.
Buy Cheaper Auto Insurance with These Tips
Consumers need to have an understanding of the factors that go into determining the price you pay for auto insurance. Having a good understanding of what influences your rates allows you to make educated decisions that can help you get big savings.
Listed below are a few of the “ingredients” companies use to determine your rates.
- Rural vs Urban Areas – Choosing to live in a rural area is a positive aspect when buying auto insurance. Lower population means reduced accidents. Drivers in populated New Mexico areas tend to have more traffic problems and longer commute times. Longer commute distances means higher likelihood of an accident.
- More miles equals more premium – Driving more miles each year the higher your rates will be. Most companies price each vehicle’s coverage based on their usage. Cars that are left in the garage can get a lower rate than vehicles that are driven to work every day. Verify your auto insurance coverage properly reflects the proper vehicle usage, because it can save money.
- Consolidate policies to earn discounts – Some insurers will award you with lower prices to insureds who carry more than one policy. It’s known as a multi-policy discount. Discounts can amount to five, ten or even twenty percent. If you currently are using one company, it’s in your best interest to compare other company rates to make sure you are getting the best deal. Drivers may still find a better deal by buying auto insurance from a different company.
- Liability coverage is cheap – Your policy’s liability coverage is the protection if a court rules you are at fault for damages caused by your negligence. It provides legal defense up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so buy as much as you can afford.
- Lower rates come with age – Teen drivers in New Mexico tend to be less responsible when driving so they pay higher auto insurance rates. Having to add a teen driver onto your auto insurance can really hurt. More mature drivers tend to be more responsible, tend to cause fewer accidents and are safer drivers.
- Performance influences rates – The performance of the vehicle you drive makes a substantial difference in the rate you pay. Economy passenger vehicles usually have the lowest rates, but other factors influence the final cost greatly.
- Claim-free discounts can add up – If you frequently file small claims, you can definitely plan on either higher rates or even cancellation. Auto insurance companies in New Mexico provide lower rates to insureds who do not rely on their insurance for small claims. Car insurance is intended for major claims that would cause financial hardship.
- Lower rates with optional equipment – Choosing a vehicle with a theft deterrent system can get you a discount on your auto insurance. Theft prevention features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart your vehicle from being stolen.
Compare the Market for Auto Insurance in Santa Fe
There are multiple methods to compare auto insurance prices but some are less time-consuming than others. You can waste a lot of time discussing policy coverages with insurance companies in Santa Fe, or you could use the internet to get pricing more quickly.
Many popular insurance companies participate in a marketplace where prospective buyers submit one quote, and each company can give them a price based on the submitted data. This system prevents you from having to do form submissions for every auto insurance company.
To find out what other companies charge click here (opens in new window).
The only downside to doing it this way is that you can’t choose the providers you want pricing from. So if you prefer to pick specific insurance companies to compare rates, we have a page of companies who write auto insurance in New Mexico. View list of New Mexico insurance companies.
However you get your quotes, ensure you are comparing exactly the same coverage limits for every company. If each company quotes unequal deductibles or liability limits you will not be able to determine the lowest rate in Santa Fe.
Save big with these discounts
Companies offering auto insurance don’t always publicize all their discounts very clearly, so we researched both the well known and the harder-to-find ways to save on auto insurance. If you’re not getting every credit you deserve, you are throwing money away.
- Homeowners Savings – Being a homeowner can help you save on auto insurance because owning a home requires personal responsibility.
- E-sign – A handful of insurance companies will give a small break for buying a policy and signing up over the internet.
- Discount for New Cars – Adding a new car to your policy is cheaper due to better safety requirements for new cars.
- Safe Drivers – Safe drivers can pay as much as 50% less than less cautious drivers.
- Early Signing – Some insurance companies reward drivers for switching policies before your current expiration date. This can save 10% or more.
- Pay Upfront and Save – If you pay your entire premium ahead of time rather than paying monthly you could save 5% or more.
- Drivers Education – Cut your cost by having your teen driver enroll in driver’s education in high school.
- No Claims – Claim-free drivers can save substantially when compared to frequent claim filers.
- Organization Discounts – Belonging to a professional or civic organization is a good way to get lower rates on auto insurance.
It’s important to note that most discounts do not apply to the overall cost of the policy. Most only apply to individual premiums such as collision or personal injury protection. So when the math indicates you can get free auto insurance, companies don’t profit that way.
But I don’t know anything about car insurance
When choosing proper insurance coverage for your vehicles, there is no one size fits all plan. Every situation is different.
These are some specific questions might help in determining if your situation might need professional guidance.
- Is New Mexico a no-fault state?
- Is my nanny covered when driving my vehicle?
- Is my business laptop covered if it gets stolen from my vehicle?
- Are there companies who specialize in insuring high-risk drivers?
- Do I need added coverage for expensive stereo equipment?
- How much liability do I need to cover my assets?
- When do I need to add a new car to my policy?
- What discounts do I qualify for?
- When should I not file a claim?
- Do I have coverage when pulling a U-Haul trailer?
If it’s difficult to answer those questions but one or more may apply to you, you might consider talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form. It is quick, free and you can get the answers you need.
More tips and info about auto insurance can be read at the New Mexico Insurance Division website. New Mexico drivers can get help finding coverage, read state legal mandates and laws, and discover disciplinary actions.
Also read more on this site for New Mexico auto insurance information and this page of insurance agents in Santa Fe.
Summing up your auto insurance search
As you shop your coverage around, it’s not a good idea to buy less coverage just to save a little money. In too many instances, drivers have reduced collision coverage and discovered at claim time they didn’t have enough coverage. The aim is to purchase a proper amount of coverage at the best price while not skimping on critical coverages.
Consumers leave their current company for a variety of reasons including policy non-renewal, lack of trust in their agent, delays in responding to claim requests or even extreme rates for teen drivers. It doesn’t matter why you want to switch choosing a new company is less work than it seems.
Throughout this article, we presented many tips how you can save on auto insurance. The key thing to remember is the more providers you compare, the more likely it is that you will get a better rate. Consumers could even find that the best prices are with some of the smallest insurance companies.