Are you sick and tired of paying out the nose each month for car insurance? You are no different than most other car owners in New Mexico.
Many car insurance companies vie for your insurance dollar, and it can be difficult to compare rates to find the lowest rate possible.
Do you qualify for discounts?
Companies offering auto insurance don’t always list every discount very clearly, so we researched both well-publicized and the harder-to-find auto insurance savings.
- Drivers Education – Require your teen driver to successfully complete driver’s ed class in high school.
- Life Insurance – Companies who offer life insurance give a discount if you purchase a life insurance policy as well.
- No Claims – Drivers with accident-free driving histories can save substantially as compared to drivers who are more careless.
- Paperless Signup – A few companies will give a small break for buying a policy and signing up online.
- More Vehicles More Savings – Buying coverage for multiple cars or trucks on the same auto insurance policy may reduce the rate for each vehicle.
- Employee of Federal Government – Simply working for the federal government could cut as much as 10% off depending on your company.
As a disclaimer on discounts, most discount credits are not given the the whole policy. A few only apply to the cost of specific coverages such as comp or med pay. Even though it may seem like it’s possible to get free car insurance, companies don’t profit that way.
But I want to work with a local agent
Some people would prefer to buy from a local agent and that is OK! One of the best bonuses of comparing insurance prices online is that you can obtain the lowest rates but still work with a licensed agent.
Once you complete this quick form, your insurance coverage information is transmitted to local insurance agents in Taos who will give you bids for your business. You never need to visit any agencies since price quotes are sent straight to your inbox. How cool is that?! You can find better rates and an insurance agent to talk to.
Deciding on an insurer requires more thought than just a cheap price. Ask your prospective agent these questions:
- If your car is in the repair shop, do you have coverage for a rental car?
- Do they receive special compensation for putting your coverage with one company over another?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- What are the financial ratings for the companies they represent?
- Do they have any clout with companies to ensure a fair claim settlement?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Do they have adequate Errors and Ommissions coverage? This protects you if they make a mistake.
Is a captive or independent car insurance agent right for you?
If you’re trying to find an insurance agent, you must know there are a couple types of agencies to choose from. Agents are either captive or independent (non-captive).
Captive Agents
This type of agents write business for a single company such as Liberty Mutual, Allstate, Farmers Insurance or State Farm. Captives cannot place coverage with different providers so keep that in mind. They are usually quite knowledgeable on their company’s products which helps them sell insurance even at higher premiums.
The following is a short list of captive agents in Taos who can help you get price quotes.
Farmers Insurance Group – 307 Paseo Del Pueblo Sur # A – Taos, NM 87571 – (505) 758-8106
Independent Agencies or Brokers
Independent agents are not locked into one company so they can insure your vehicles with multiple insurance companies and possibly get better coverage at lower prices. To move your coverage to a new company, the agent simply finds a different carrier and you won’t have to switch agencies. When shopping rates, we recommend you contact at a minimum one independent agency to ensure the widest selection of prices.
Listed below are Taos independent insurance agents who can help you get comparison quotes.
Wanda Quintana Agency – 211 Kit Carson Rd – Taos, NM 87571 – (505) 737-5433
Peoples Insurance – 1356 Paseo Del Pueblo Sur – Taos, NM 87571 – (505) 758-8331
Santistevan Insurance – 218 Paseo Del Pueblo Sur # B – Taos, NM 87571 – (505) 776-3224
Lisa B Gallegas Agency Inc – 1128 Paseo Del Pueblo Sur # B – Taos, NM 87571 – (505) 758-3308
For a complete listing of Taos insurance agents, click here to link.
Upon receiving reasonable responses to these questions and a good coverage price, it’s possible that you found a car insurance agent that meets your needs to adequately provide auto insurance.
Do drivers who switch really save $455 a year?
Auto insurance companies such as 21st Century, Allstate and State Farm consistently run ads in print and on television. They all seem to have a common claim that you can save if you change your coverage to them. How can each company make the same claim?
Different companies are able to cherry pick for the driver that makes them money. For example, a desirable insured might be between 30 and 50, a clean driving record, and has excellent credit. Any new insured who matches those parameters gets the lowest rates and most likely will pay quite a bit less when switching companies.
Consumers who don’t meet the “perfect” profile will be charged more money which usually ends up with the driver buying from a lower-cost company. Company advertisements say “customers who switch” not “everybody who quotes” save that much money. That is how companies can truthfully state the savings. That is why it’s extremely important to compare as many rates as you can. It’s impossible to know which auto insurance company will have the lowest rates.
Additional New Mexico car insurance resources
Additional detailed information is located at the New Mexico Insurance Division website. Consumers can learn about specific coverages, find out industry alerts, download brochures, and learn about insurance regulations.
Do the work, save more money
The cheapest auto insurance can be purchased online and with local Taos insurance agents, so compare prices from both to have the best selection. Some auto insurance companies do not offer online quoting and usually these regional insurance providers provide coverage only through local independent agents.
We just covered quite a bit of information on how to lower your auto insurance rates. It’s most important to understand that the more rate comparisons you have, the better chance you’ll have of finding lower rates. Consumers may even find the best price on auto insurance is with a small local company. They may often insure only within specific states and give getter rates as compared to the big name companies such as Allstate, Geico and Progressive.
As you go through the steps to switch your coverage, it’s very important that you do not buy less coverage just to save a little money. There have been many cases where an insured dropped physical damage coverage and discovered at claim time that it was a big mistake. Your strategy should be to purchase plenty of coverage for the lowest price while not skimping on critical coverages.