You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life ’ s fiscal travel. Bankrate ’ s editorial team writes on behalf of YOU – the proofreader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow hard-and-fast guidelines to ensure that our editorial message is not influenced by advertisers. Our column team receives no steer compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. so, whether you ’ re reading an article or a review, you can trust that you ’ re getting credible and dependable information. We respect your reliance. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in rate to ensure that happens. Our editors and reporters thoroughly fact-check editorial contentedness to ensure the information you ’ ra read is accurate. We maintain a firewall between our advertisers and our column team. Our column team does not receive aim recompense from our advertisers. Bankrate follows a rigorous editorial policy, so you can trust that we ’ ra putting your interests beginning. Our award-winning editors and reporters create honest and accurate content to help you make the correct fiscal decisions. All providers discussed on our site are vetted based on the respect they provide. And we constantly review our criteria to ensure we ’ ra putting accuracy first. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — indeed you can feel confident about which provider is good for you. Bankrate follows a rigid editorial policy, so you can trust that we ’ ra putting your interests first. All of our content is authored by highly modify professionals and reviewed by capable topic experts, who ensure everything we publish is aim, accurate and worthy of your entrust. Founded in 1976, Bankrate has a long lead record of helping people make smart fiscal choices. We ’ ve maintained this reputation for over four decades by demystifying the fiscal decision-making serve and giving people confidence in which actions to take adjacent. While we adhere to strict editorial integrity, this post may contain references to products from our partners. here ‘s an explanation for how we make money. This subject is powered by HomeInsurance.com ( NPN : 8781838 ). For more information, please see our Insurance disclosure. The average annual cost of car insurance in Albuquerque is $ 445 for minimum and $ 1,580 for wax coverage, which is more than the department of state median. unfortunately, this is for good reason. year after year, Albuquerque has the highest number of both crashes and accidents than anywhere else in the express, according to a study conducted by the New Mexico Department of Transportation. clearly, Burqueños need both impregnable and low-cost car indemnity. To determine the best brassy car indemnity companies in Albuquerque, we looked at customer satisfaction scores and the average monetary value of premiums, equally well as available discounts .
Best car insurance in Albuquerque
We determined the postdate five companies to offer the best policy in Albuquerque based on the average 2021 premium for both minimum and wide coverage car insurance, according to data pulled from Quadrant Information Services. We besides considered discounts, coverage options and ratings from the 2021 Auto Insurance Study from J.D. Power, an independent third party customer satisfaction review company .
| Insurance company | J.D. Power customer satisfaction score (California) |
Average annual premium for minimum coverage | Average annual premium for full coverage |
|---|---|---|---|
| Farmers | 802 / 1,000 | $520 | $1,500 |
| Geico | 829 / 1,000 | $415 | $1,586 |
| Progressive | 835 / 1,000 | $523 | $1,641 |
| State Farm | 847 / 1,000 | $465 | $1,712 |
| Allstate | 822 / 1,000 | $467 | $1,839 |
Farmers
Farmers offers multi-faceted car insurance auspices, including towing avail, loss of habit coverage, rental cable car reimbursement, rideshare policy and custom-make equipment coverage if you have a custom-made or lavishness vehicle. If you have a new cable car, Farmers offers newfangled fomite indemnity and hybrid and electric car coverage, but if you have an older vehicle, ask about discounts for your late exemplary vehicle. Learn more : Farmers Insurance review
Geico
Geico is a capital ship’s company for low average premiums and great customer service, according to scores from J.D. Power ’ s annual car indemnity study. It besides happens to offer some of the best cable car insurance discounts in the diligence, many of which offer significant savings. Geico ’ s mobile app enables customers to review and make changes to their report, request wayside aid, give bills, file a claim and check the status of a claim. Learn more : Geico Insurance reappraisal
Progressive
progressive gives Geico a ply for its money when it comes to the number of discounts it offers. Just about any driver should be able to find a discount they can use immediately after becoming a customer and numerous early discounts they can use with only a little total of attempt, such as taking a defensive drive course. furthermore, if you are in the market to bundle either renters policy, condominium policy or homeowners insurance, you may be able to save even more with Progressive. Learn more : progressive Insurance review
State Farm
submit grow is an up-to-date company with all of nowadays ’ mho innovations and technologies. It offers a great app that you can use to do anything you need to your bill, and it besides has what it calls its Drive Safe and Save app. With this smartphone app, which is available for both io and Android devices, you can let State Farm monitor your driving habits. If it likes what it sees, you may get a dismiss on your monthly payments. Learn more : State Farm Insurance review
Allstate
Allstate offers significant discounts for all types of drivers, but is specially full to have if you are either a scholar or parent of a student. You can save money when going to college 100+ miles away without your car, completing the teenSMART driver department of education program or getting a GPA of 2.7 or above. Learn more : Allstate Insurance follow-up
Cheapest car insurance in Albuquerque
The median annual cost of car indemnity in New Mexico is $ 337 for minimum liability-only coverage and $ 1,388 for full moon coverage indemnity. This means that drivers in Albuquerque pay $ 108 more for minimum and $ 192 more full coverage on average. Both types of coverage are therefore well more and warrant shopping around for the cheapest car policy in Albuquerque. Our research showed that the follow companies offer the cheap car policy in Albuquerque, New Mexico :
| Insurance company | Average annual premium for minimum coverage | Average annual premium for full coverage |
|---|---|---|
| USAA | $305 | $1,238 |
| Farmers | $520 | $1,500 |
| Geico | $415 | $1,586 |
| State Farm | $465 | $1,712 |
| Allstate | $467 | $1,839 |
USAA may be the best company to work with if you are or were in the military, because it alone works with former and current military and their immediate family members. Geico, State Farm and Allstate all offer a battalion of discounts and have the most current, and up-to-date apps to use with either io or Android. Farmers is a great party to work with if you are looking for custom coverage with lots of discounts to save money. Our two cents is that if you are looking for the best car policy quotes in Albuquerque, these are options to consider .
Albuquerque insurance requirements
New Mexico requires all drivers to have a 25/50/10 policy. This means that if you get into an accident and are found to be at blame, your car indemnity company must provide indebtedness coverage for up to :
- $25,000 per person for bodily injury/death
- $50,000 per accident for bodily injury/death
- $10,000 per accident for property damage
however, policy experts recommend purchasing more than basic indebtedness. Any damages you inflict that equal more than your policy limits will have to be paid by you out of pocket. This is quite easily done with place damage alone when you consider that most new cars cost well over $ 30k. Your lender may besides require more than minimum coverage if you plan to lease or finance a raw cable car. consequently, when shopping round, make certain you compare wide coverage costs. The party that offers you the lowest price on minimum coverage may not offer you the lowest price on a entire coverage policy .
Car insurance discounts in Albuquerque
When shopping about, comparison quotes and available discounts. A caller ’ mho discounts may make them the cheapest company once they are applied. here are the discounts we recommend pursuing in Albuquerque :
- Paid-in-full: Many companies offer up to a 10% discount for paying your premium in full. This means that an $1,800 policy will receive a discount of $180 after the yearly premium is paid off. It is money you would pay anyway, so if you can afford to do it, you may save more than a few bucks.
- Multi-car: If you have more than one vehicle to insure, you may want to ask your insurer about multi-vehicle discounts. The savings you could receive may be as high as 25%.
- Anti-theft: Having an anti-theft device installed in your car may get you savings as high as 15%. Just keep an eye on monthly costs for the security system (if there are any). Ideally, you want the savings to equal more than the monthly cost.
- Bundle: It often makes sense to bundle renters, homeowners or condo insurance with your auto policy. If you plan to do this, make sure you speak with an agent at each company to see which will give you the most savings while still fulfilling your insurance needs.
Frequently asked questions
What is the best car insurance company?
The best car insurance company will depend on respective factors. Most car indemnity companies use rat factors like your accredit seduce, vehicle make and exemplar, your historic period and gender, although some states do not allow citation score or sex to be factored into your cable car insurance rates. To find the best policy for you, be sure to collect multiple quotes so you can compare multiple providers .
Does Albuquerque have a lot of uninsured drivers?
No information is available specifically for Albuquerque but there is for New Mexico. Currently, New Mexico is the fourth highest state for uninsured drivers according to a recent study conducted by the Insurance Information Institute, with 21.8 % of drivers driving uninsured. Uninsured/ underinsured motorist coverage provides coverage for you and your passengers if you are hit by a driver with no insurance or not enough insurance, and insurers in New Mexico are required to offer you this coverage. While it is possible to reject the coverage, most insurance experts strongly encourage it.
Methodology
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean drive commemorate, good credit and the follow wide coverage limits :
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimal coverages that meet each submit ’ mho requirements. Our sample distribution drivers own a 2019 Toyota Camry, change five days a week and drive 12,000 miles annually. These are sample rates and should be used for comparative purposes only. Your quotes may be different .