Top Ways to Save on Edgewood Auto Insurance

Are you tired of scraping the payment together each month for car insurance? Your situation is no different than most other car owners in New Mexico. Drivers have multiple to buy insurance from, and although it's nice to have multiple companies, it can be more challenging to compare rates.

It's important to take a look at other company's rates before your policy renews because insurance rates are constantly changing. Even if you think you had the best price two years ago a different company probably has better rates today. Forget anything you know (or think you know) about auto insurance because we're going to demonstrate how to quote online to buy cheaper auto insurance.

Finding affordable coverage in Edgewood is easy if you know what you're doing. If you have a policy now or need a new policy, you can learn to find better prices and possibly find even better coverage. New Mexico vehicle owners just need to know the best way to compare company rates on the web.

Be sure to get all your discounts

Companies don't always advertise all their discounts very clearly, so we took the time to find both well-publicized and the harder-to-find discounts you could be receiving. If you're not getting every credit available, you are throwing money away.

  • Homeowners Pay Less - Owning a house in Edgewood can save you money because maintaining a house is proof that your finances are in order.
  • No Accidents - Claim-free drivers can save substantially as compared to drivers who are more careless.
  • Safety Course Discount - Completing a course in driver safety could save 5% or more if you qualify.
  • Save over 55 - If you qualify as a senior citizen, you may receive better auto insurance rates.
  • College Student - Youth drivers who attend school more than 100 miles from home and don't have a car can receive lower rates.
  • Seat Belt Usage - Requiring all passengers to use their safety belts could save 15% off your PIP or medical payments premium.
  • Service Members Pay Less - Being deployed with a military unit could be rewarded with lower premiums.
  • Good Students Pay Less - Performing well in school can get you a discount of up to 25%. This discount can apply up until you turn 25.
  • Sign Online - Certain companies will discount your bill up to fifty bucks for buying a policy and signing up over the internet.

Consumers should know that some credits don't apply to the entire cost. Most only apply to the price of certain insurance coverages like liability, collision or medical payments. So even though it sounds like all the discounts add up to a free policy, companies don't profit that way.

Edgewood Rates are Influenced by These Factors

Smart consumers have a good feel for the factors that play a part in calculating the price you pay for auto insurance. Knowing what controls the rates you pay enables informed choices that may reward you with lower auto insurance prices.

  • Bump up deductibles to save - Coverage for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Some instances where coverage would apply could be running into the backend of another car, damage caused by hail, or theft. The deductibles are how much you are willing to pay out-of-pocket if you file a covered claim. The higher the amount you are required to pay out-of-pocket, the less your company will charge you for insurance.
  • Your stress level may be raising your rates - Jobs such as lawyers, social workers and financial analysts tend to have higher average rates in part from stressful work requirements and lengthy work days. Conversely, occupations like farmers, engineers and retirees receive lower rates.
  • Do you need those extra coverages? - There are quite a few extra bells and whistles that you can buy on your auto insurance policy. Coverages for vanishing deductibles, towing coverage and term life insurance are some examples. They may seem like a good idea when talking to your agent, but if they're wasting money eliminate them to save money.
  • Men are more aggressive - The statistics show that women are safer drivers than men. Now that doesn't mean men are worse drivers. Women and men have accidents in similar percentages, but the males tend to have more serious accidents. They also get more serious tickets such as DWI and reckless driving.
  • Older drivers pay less - Teen drivers in New Mexico have a tendency to be more careless in a vehicle so they pay higher auto insurance rates. Mature drivers are viewed as being more responsible, tend to file fewer claims and are safer drivers.
  • Allowing your policy to lapse raises rates - Not having insurance is a misdemeanor and as a result your rates will increase for letting your coverage have a gap. Not only will rates go up, but being ticketed for driving with no insurance will get you a license revocation or jail time.Then you may be required to prove you have insurance by filing a SR-22 with the New Mexico DMV.
  • Safer cars cost less to insure - Cars with high safety ratings get lower rates. These vehicles reduce injuries and lower injury rates translates into fewer and smaller insurance claims and thus lower rates.
  • Traffic violations increase rates - Your driving citation history has a lot to do with how much you pay for insurance. Just one moving violation can boost insurance rates twenty percent or more. Careful drivers tend to pay less for car insurance than their less careful counterparts. Drivers who have dangerous citations like reckless driving, hit and run or driving under the influence may need to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent a license revocation.

Is there truth in advertising?

New Mexico consumers get pounded daily by advertisements for the lowest price auto insurance by State Farm, GEICO and Progressive. They all seem to have a common claim that you'll save big if you change to their company.

How does each company make almost identical claims? This is how they do it.

All companies can use profiling for the driver that earns them a profit. For example, a desirable insured could possibly be between the ages of 40 and 55, is a homeowner, and chooses high deductibles. A driver that hits that "sweet spot" is entitled to the best price and is almost guaranteed to save when switching.

Potential customers who don't measure up to these standards will have to pay a higher premium and this can result in the driver buying from a lower-cost company. Company advertisements say "drivers who switch" but not "drivers who get quotes" save that much. That's why companies can state the savings. Because of the profiling, drivers should get a wide range of price quotes. It is impossible to predict the company that will give you the biggest savings.

Learn more today

More detailed New Mexico auto insurance information can be found at the New Mexico Insurance Division website. New Mexico consumers can report car insurance fraud, read industry bulletins, discover disciplinary actions, and learn about insurance regulations.

And the best car insurance company is...

Discount auto insurance is attainable online and also from your neighborhood Edgewood agents, so you should be comparing quotes from both to have the best rate selection. Some insurance companies may not provide you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.

When buying insurance coverage, it's very important that you do not skimp on coverage in order to save money. In many cases, an accident victim reduced physical damage coverage only to discover later that their decision to reduce coverage ended up costing them more. Your aim should be to buy enough coverage for the lowest price.