How to Know You're Paying Too Much for Auto Insurance in Clovis

No one in their right mind cherishes buying auto insurance, particularly when their premiums are through the roof.

Drivers have multiple to buy insurance from, and even though it's nice to have a selection, it can be more challenging to compare rates.

It's important to compare prices occasionally because prices are constantly changing. Even if you got the lowest rates two years ago the chances are good that you can find a lower rate today. So forget anything you know (or think you know) about auto insurance because you're going to get a crash course in the tricks you need to know to find lower rates on auto insurance.

Finding affordable protection in Clovis is not that difficult. Just about everyone who is required by state law to have auto insurance will be able to reduce their rates. But New Mexico consumers do need to know the way insurance companies price insurance differently and use this information to your advantage.

These discounts can lower your rates

Insuring your vehicles can cost a lot, but you can get discounts to reduce the price significantly. Larger premium reductions will be automatically applied when you purchase, but lesser-known reductions have to be specially asked for before being credited.

  • Accident Forgiveness - Certain companies will forgive one accident before raising your premiums as long as you don't have any claims prior to the accident.
  • Anti-lock Brakes - Anti-lock brake equipped vehicles can reduce accidents and therefore earn up to a 10% discount.
  • Life Insurance Discount - Select insurance companies reward you with a discount if you purchase a life insurance policy as well.
  • Sign Online - Certain companies may give you up to $50 for buying a policy and signing up over the internet.
  • Drive Less and Save - Fewer annual miles can earn a substantially lower rate.
  • Save with a New Car - Adding a new car to your policy can be considerably cheaper since new cars are generally safer.
  • Payment Method - By paying your policy upfront instead of paying each month you may reduce your total bill.
  • Senior Citizens - Mature drivers may be able to get better auto insurance rates.
  • Bundle and Save - When you combine your home and auto insurance with one insurance company you may earn up to 20% off your total premium.

Consumers should know that some of the credits will not apply to your bottom line cost. Some only apply to individual premiums such as liability, collision or medical payments. So when it seems like it's possible to get free car insurance, companies don't profit that way. But all discounts will bring down the cost of coverage.

To see a list of companies who offer auto insurance discounts in New Mexico, click here.

Automobile Insurance Quotes in Clovis, NM

Most companies like State Farm, GEICO and Progressive give coverage prices online. This process is quite simple as you just type in your coverage preferences as detailed in the form. Once you submit the form, the system will obtain your credit score and driving record and returns pricing information. Quoting online helps simplify price comparisons, but the time it takes to visit different websites and complete many quote forms can be a bit repetitive. But it's very important to do this in order to get better auto insurance pricing.

The easy way to compare rates

The preferred way to get multiple rate quotes uses one form that gets price quotes from more than one company. The form is fast, reduces the work, and makes online quotes much more efficient. As soon as the form is sent, your coverage is rated and you can select any one of the price quotes you receive.

If a lower price is quoted, you simply finish the application and purchase coverage. This process takes less than 15 minutes and may result in a nice savings.

To find out what other companies charge, click here to open in new window and complete the simple form. To compare your current rates, we recommend you enter your coverages identical to your current policy. This makes sure you will have an apples-to-apples comparison based on the exact same insurance coverage.

Good Decisions Result in Lower Rates

An important part of buying insurance is that you know the factors that help determine the rates you pay for auto insurance. Knowing what controls the rates you pay enables informed choices that may reward you with lower auto insurance prices.

  • Do men or women drive better? - Statistics show that women are safer drivers than men. However, this does not mean men are worse drivers. Women and men are in accidents in similar percentages, but the males have costlier accidents. They also get more serious tickets like DUI and reckless driving. Teenage male drivers are most likely to cause an accident and therefore have the most expensive auto insurance rates.
  • Poor credit can mean higher rates - Credit history is a important factor in determining your rates. If your credit score is not that good, you could pay less to insure your by spending a little time repairing your credit. Drivers who have high credit scores tend to be better drivers and file fewer claims as compared to drivers with lower credit scores.
  • Proper usage rating affects rates - Driving more miles each year the more you will pay for auto insurance. Most insurance companies charge to insure your cars based on how the vehicle is used. Cars left parked in the garage qualify for better rates than vehicles that are driven to work every day. Make sure your auto insurance coverage shows the proper vehicle usage.
  • Being married is a good thing - Having a spouse can get you a discount on auto insurance. It means you're more mature than a single person and it's proven that married couples file fewer claims.

Different people need different coverages

When choosing adequate coverage for your vehicles, there isn't really a perfect coverage plan. Everyone's situation is a little different and your policy should reflect that. For instance, these questions might point out whether you would benefit from professional advice.

  • Does my policy cover me when driving someone else's vehicle?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • What are the financial responsibility laws in New Mexico?
  • Does my liability insurance cover pulling a trailer or camper?
  • Does my personal policy cover me when driving my company car?
  • What can I do if my company won't pay a claim?
  • I have good health insurance, so how much medical payments coverage do I need?

If you can't answer these questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area.

Are you falling for claims of savings?

Auto insurance companies such as State Farm, GEICO and Progressive continually stream ads on television and other media. They all seem to have a common claim that you'll save big after switching to their company. How does each company claim to save you money?

All companies have a certain "appetite" for the driver that is profitable for them. For example, a desirable insured might be a mature driver, owns a home, and chooses high deductibles. A customer getting a price quote that hits that "sweet spot" will qualify for the lowest rates and as a result will probably save when switching.

Consumers who are not a match for these standards will have to pay higher prices and this can result in the customer not buying. The ad wording is "customers that switch" not "everybody who quotes" save that much. That is how companies can state the savings.

Because of the profiling, drivers must get quotes from several different companies. It's impossible to know which company will give you the biggest savings.

Do the work, save more money

Discount auto insurance can be purchased both online and also from your neighborhood Clovis agents, and you need to price shop both in order to have the best price selection to choose from. Some insurance companies may not provide the ability to get a quote online and most of the time these regional insurance providers sell through independent agents.

When buying insurance coverage, never reduce coverage to reduce premium. In many cases, an insured cut uninsured motorist or liability limits only to regret that their decision to reduce coverage ended up costing them more. Your aim should be to get the best coverage possible at a price you can afford.

Clovis auto insurance quote

Much more information about auto insurance in New Mexico can be found on the website for the New Mexico Insurance Division located here. Visitors are able to learn about insurance regulations, find out industry alerts, file complaints about an insurance agent or broker, and get help finding coverage.