Who Has Cheap Insurance for a Nissan Altima in New Mexico?

The chances of finding the cheapest car insurance for a Nissan Altima in New Mexico relies on many different factors such as if you are single or married, if you have ever let your policy lapse, and citations on your driving record. New Mexico drivers will pay around $1,160 every 12 months to insure an Altima, but that cost is a ballpark figure based on cost data for a 50-year-old single female that wants both comprehensive and collision coverage and $100 deductibles.

But there is a high probability that you are not 50 years old and maybe not even female, maybe you are married instead of single, and maybe your credit level is not the same as what was rated. Car insurance coverage is unique to each driver, so this is why your best shot at finding the most affordable coverage for your Nissan is to compare as many rates as possible. Do a quick rate comparison now and you will receive rate quotes from top-rated car insurance companies that sell coverage in New Mexico.

Compare Nissan Altima Insurance Rates

Your Nissan’s trim level has an effect on the coverage cost, so the rate you will pay to insure a Altima 2.5 4-Dr Sedan trim level will be $274 less than the price to insure the high end Altima 3.5 SR 2-Dr Coupe trim level, as shown in the table below.

Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Premium amounts do not factor in specific zip code location which can affect price quotes substantially.

Selecting the top insurance company can be difficult considering how many choices you have in New Mexico. The rank data shown below may help you analyze which car insurance providers to look at comparing rate quotes with. The rankings below are only comprised of companies with a national presence, so companies that focus mainly on New Mexico business are not included in the list.

Top 10 Major Car Insurance Companies in New Mexico Ranked by Claims Service

1. State Farm
2. Esurance
3. AAA Insurance
4. Progressive
5. GEICO
6. Liberty Mutual
7. Allstate
8. Titan Insurance
9. The Hartford
10. The General

Top 10 Major Car Insurance Companies in New Mexico Ranked by Customer Satisfaction

1. Titan Insurance – 95%
2. USAA – 94%
3. AAA Insurance – 91%
4. Nationwide – 90%
5. State Farm – 90%
6. The Hartford – 89%
7. GEICO – 89%
8. Allstate – 88%
9. 21st Century – 88%
10. The General – 88%

Top Companies for Nissan Altima Insurance in New Mexico

Full coverage rates compared to liability-only

Finding cheap insurance for a Nissan Altima in New Mexico is the goal of most drivers, and one great way to lower the cost of insurance is to only buy liability insurance. The illustration below compares insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in New Mexico. The information is based on no accidents or driving violations, $250 deductibles, drivers are not married, and no additional discounts are factored in.

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As an overall average, full coverage costs $2,007 per year more than just buying liability only. Many drivers will wonder when is the right time to remove full coverage. There is no definitive guideline of when to phase out physical damage coverage, but there is a general school of thought. If the annual cost of coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.

The diagram below illustrates how choosing a deductible can influence yearly insurance costs when researching cheap insurance for a Nissan Altima. Data assumes a married male driver, comp and collision included, and no discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 3737,3405,3037,2691],[‘Age 30’, 1953,1779,1577,1385],[‘Age 40’, 1873,1713,1529,1351],[‘Age 50’, 1713,1567,1401,1241],[‘Age 60’, 1683,1539,1375,1219],[‘Age 70’, 1935,1777,1603,1437]]);var options = {title: ‘Effect of Higher Deductibles on Nissan Altima Insurance Rates in New Mexico’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Nissan Altima’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

In the chart above, a 50-year-old driver could pocket $312 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $472 by selecting a $1,000 deductible. Young drivers, such as the 20-year-old example, could roll back prices as much as $1,046 every year by choosing a higher deductible.

When choosing a higher deductible, it will be required to have enough spare savings to satisfy the extra out-of-pocket expense associated with higher deductibles.

Does State Farm, Allstate, Progressive, or Geico have the cheapest car insurance?

If you want the best insurance for an Altima in New Mexico, four companies to take a look at are State Farm, Allstate, Progressive, and Geico. All offer your standard physical damage and liability coverages, but each one has unique options and discounts that drivers can select from. The table below illustrates pricing and service ratings, plus some optional coverages you can buy with each company.

Who has the cheapest Nissan Altima insurance quotes?

You have a lot of ways to compare insurance prices in New Mexico, but the most popular methods are using an independent agent, an exclusive insurance agency like Liberty Mutual or State Farm, or from a direct company like Progressive or Geico.

All three ways can provide insurance quotes, but insurance shoppers should know the differences in how they provide price quotes.

Independent insurance agents work for many companies and can compare coverage rates with all of them. These agents are not locked into one company and can provide multiple price quotes, which can help you get a better overall rate comparison. If a cheaper rate is found, it’s easy for the agent to move the policy which makes it easier to save money.

An exclusive ageny is only able to place business with a single company, for example Allstate or Farmers Insurance agents. Exclusive agencies are unable to provide multiple price quotes, so if rates are high, they cannot give you alternative choices.

Choosing to buy insurance direct means you do not use an independent or exclusive agent and buy direct from companies such as Progressive or Esurance. Shopping direct is a good choice for people who have an average risk profile and have knowledge of what is covered and what is not.

Out of those three methods, which one works best for finding cheap insurance for a Nissan Altima in New Mexico? The obvious answer would be buying from a direct car insurance company results in the best prices since it doesn’t require paying agent commissions, but unfortunately, it’s not that cut and dried. We could also say that buying insurance from an independent agent is the best way to save due to having more companies to select from, but that assumption is also not necessarily accurate. And occasionally, exclusive agencies may have very competitive prices that are the cheapest in New Mexico.

Because there is so much variation in insurance prices, the best method to not overpay for insurance is to compare, compare, and compare some more. Set aside the time to get price quotes from all three in order to have the best selection to choose from. To see some of the cheapest online companies available, click here to view.