How to Know You're Throwing Money Away for Auto Insurance in Las Vegas

Are you sick and tired of robbing Peter to pay Paul each month for car insurance? Your situation is no different than many other drivers in New Mexico. You have multiple to buy insurance from, and though it is a good thing to be able to choose, having more makes it harder to compare rates.

It's important to do rate comparisons once or twice a year since insurance rates are constantly changing. Just because you found the best price a couple years back there is a good chance you can find better rates now. Forget all the misinformation about auto insurance because we're going to demonstrate the quickest way to find great coverage at a great price.

Finding affordable coverage in Las Vegas is easy if you know what you're doing. If you are paying for car insurance now, you will most likely be able to lower your premiums substantially using this information. New Mexico vehicle owners just need to know how to compare prices on the web.

Why some people pay less for insurance in Las Vegas

Consumers need to have an understanding of the different types of things that play a part in calculating auto insurance rates. Knowing what controls the rates you pay allows you to make educated decisions that can help you get big savings.

Shown below are a few of the "ingredients" companies use to determine your rates.

One company can mean more discounts - Some insurers give discounts to people who have multiple policies with them in the form of a multi-policy discount. Even though this discount sounds good, you may still want to comparison shop to make sure you are getting the best deal. Drivers may still find better rates by buying insurance from more than one company.
Car features impact rates - Driving a car that has an advanced theft prevention system can get you a discount on your auto insurance. Theft prevention devices such as GM's OnStar, tamper alarm systems and vehicle immobilizers all hinder car theft.
Don't sacrifice liability coverage - Your policy's liability coverage will protect you in the event that a jury decides you are liable for damages from an accident. It provides for a legal defense which can cost thousands of dollars. Liability is cheap as compared to coverage for physical damage, so do not cut corners here.
Pay less if you're married - Having a spouse helps lower the price on your policy. Marriage is viewed as being more mature than a single person and it's statistically proven that drivers who are married are more cautious.
Males pay more for insurance - The statistics show that women are safer drivers than men. Now that doesn't mean women are better drivers. They both have accidents in similar percentages, but men tend to have more serious accidents. Men also receive more costly citations like reckless driving and DUI.
Safe vehicles cost less to insure - Vehicles with good safety scores can get you lower premiums. Safer cars result in less severe injuries and better occupant protection translates into fewer and smaller insurance claims and thus lower rates.
More claims means more premium - Insurance companies in New Mexico award lower rates to people who file claims infrequently. If you file claims often, you can expect either policy cancellation or increased premiums. Insurance coverage is intended to be relied upon for major claims that would cause financial hardship.

How to Compare Auto Insurance Costs in Las Vegas

There are several ways you can shop for auto insurance but one way is more efficient than others. You can spend your afternoon talking to agents in Las Vegas, or you can utilize online quotes to achieve your goal.

Most of the larger companies take part in a program that allows shoppers to submit one quote, and at least one company can give them a price based on the submitted data. This saves time by eliminating quote forms for each company you want a rate for.

To submit your quote information now, click here to open in new window.

The one downside to using this type of system is that you can't choose which providers you want to price. So if you want to select specific insurance companies for rate comparison, we have a page of low cost auto insurance companies in New Mexico. Click here to view list.

It's up to you which method you use, but double check that you are using identical quote information on every quote. If you enter mixed coverages it will be next to impossible to make a fair comparison in Las Vegas.

How much can you save with discounts?

Companies offering auto insurance don't always publicize every available discount very clearly, so we took the time to find some of the best known and the more hidden savings tricks you should be using. If you're not getting every credit available, you are paying more than you should be.

Theft Prevention System - Cars that have factory anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
Pay Now and Pay Less - If you pay your entire premium ahead of time instead of making monthly payments you can actually save on your bill.
Multiple Cars - Buying insurance for all your vehicles with the same company could earn a price break for each car.
Homeowners Pay Less - Being a homeowner can help you save on auto insurance because maintaining a house is proof that your finances are in order.
Military Rewards - Being on active duty in the military could be rewarded with lower premiums.
Anti-lock Brake System - Vehicles equipped with ABS or steering control can avoid accidents and will save you 10% or more.
Senior Discount - If you're over the age of 55, you may receive reduced rates.
Organization Discounts - Affiliation with a qualifying organization is a good way to get lower rates on your policy.
Accident Free - Claim-free drivers can save substantially compared to accident-prone drivers.
Drivers Education - Cut your cost by having your teen driver take driver's ed class if offered at their school.

Drivers should understand that most discount credits are not given to the entire cost. Most only cut the cost of specific coverages such as comprehensive or collision. Just because you may think having all the discounts means you get insurance for free, companies wouldn't make money that way.

To choose providers with discount auto insurance rates in New Mexico, click here to view.

Save 15 percent in 15 minutes? Is it for real?

New Mexico drivers can't ignore all the ads for the lowest price auto insurance by companies like Allstate and Progressive. All the ads make an identical promise that you'll save big if you change to them.

How does each company say the same thing?

All the different companies can use profiling for the type of driver that makes them money. For example, a preferred risk might be profiled as over the age of 40, has no tickets, and drives less than 10,000 miles a year. A propective insured who meets those qualifications will qualify for the lowest rates and is almost guaranteed to save when switching.

Consumers who don't meet these standards will be charged higher rates and ends up with business not being written. The ad wording is "people who switch" but not "drivers who get quotes" save money. That's why companies can advertise the way they do. That is why you need to get a wide range of price quotes. It's not possible to predict the company that will provide you with the cheapest rates.

More detailed New Mexico auto insurance information can be found at the New Mexico Insurance Division website. New Mexico drivers can read consumer alerts, view a list of available companies, find out which companies have the most complaints, and get help finding coverage.

A tidy conclusion

As you go through the steps to switch your coverage, never reduce coverage to reduce premium. Too many times, an insured dropped physical damage coverage only to regret at claim time that the savings was not a smart move. The aim is to purchase a proper amount of coverage at an affordable rate, not the least amount of coverage.

Budget-conscious auto insurance can be sourced on the web and with local Las Vegas insurance agents, and you need to comparison shop both to get a complete price analysis. Some auto insurance companies do not offer online price quotes and many times these regional insurance providers only sell through independent insurance agents.