Who Has the Cheapest Insurance for a Ford Edge in New Mexico?

When the topic is auto insurance, the word “cheap” shouldn’t be used anywhere to describe car insurance prices. Sad but true, cheap auto insurance for a Ford Edge can be extremely hard to find. Don’t let that discourage you, because we will show you how you can still get insurance that doesn’t break your budget.

The chances of buying affordable auto insurance for a Ford Edge in New Mexico is dependent upon a large number of factors like the mileage of your daily commute, your credit status, and driving violations. Drivers in New Mexico pay around $980 annually to buy Ford Edge insurance, but that price is an estimation that rates a 30-year-old married female that included both comprehensive and collision coverage and $250 policy deductibles.

Chances are that rate is not what you would pay, because most likely you are not 30 years old and maybe not even female, you might be single instead of married, and you don’t want the same coverages and limits as the example. Everyone has different rating factors, so the only real way to find cheap car insurance rates for your Ford is to put in the effort and compare rates. In less than five minutes you will be able to see rates from the cheapest companies that offer coverage in New Mexico.

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Your vehicle’s trim level has an effect on the annual cost of coverage, so the price to insure a Edge SE 2WD will be $178 cheaper than the cost to insure the higher-end Edge Sport AWD trim level, as shown in the table below.

Prices above based on married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Price information does not factor in specific location which can raise or lower rates noticeably.

Buying cost effective insurance is challenging, and determining which company quotes the most affordable insurance rates for a Ford Edge requires even more diligence. Each auto insurance company has a different formula for filing rates in each state, so let’s begin by examining the insurance companies with the overall cheapest rates in New Mexico.

It’s important that readers know that New Mexico insurance rates are calculated based on many things that will increase or decrease the price you pay. That is why it is critical to perform an extensive rate comparison when trying to get the most affordable car insurance rates for a Ford Edge. Rates are influenced by many risk factors and can change substantially, so the most affordable company three years ago may now be wasting a lot of money.

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USAA normally has some of the lowest car insurance rates in New Mexico at around $683 a year. Allied, Safeco, Farm Bureau Mutual, and State Farm also are some of the more affordable New Mexico auto insurance companies.

As shown in the rates above, if you currently have a policy with Allied and switched to USAA, you might achieve a yearly price reduction of upwards of $237. New Mexico drivers with Safeco might save as much as $321 a year, and Farm Bureau Mutual policyholders might realize rate reductions of up to $519 a year.

Remember that these policy prices are averaged for all insureds and vehicles and and are not figured with a specific rate factor for a Ford Edge. So the auto insurance company that has the lowest price for you may not even be featured in the above rate chart. That affirms the importance of why you need to get quotes using your own specific driver and vehicle information.

Insurance rate increases from tickets or accidents

The easiest method to receive good insurance prices in New Mexico for an Edge is to be a good driver and not receive tickets or have accidents. The illustration below illustrates how traffic citations and at-fault fender-benders raise car insurance costs for different categories of driver ages. The data is based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.

In the example above, the average cost of car insurance in New Mexico per year with a clean driving record and no accidents is $1,626. Receive one speeding ticket and the average cost hikes up to $1,870, an increase of $243 each year. Now include one accident along with the one speeding ticket and the 12-month cost of insurance for a Ford Edge increases to an average of $2,556. That’s an increase of $929, or $77 per month, just for not driving safely!

Cost comparison with and without full coverage

Finding the cheapest insurance for a Ford Edge in New Mexico is important to the majority of drivers, and an effective way to save on the cost of insurance is to not insure for full coverage. The chart below illustrates the difference between yearly insurance costs with full coverage compared to only the New Mexico minimum liability coverage. The premiums assume no violations or claims, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.

Averaged out for all age groups, comprehensive and collision coverage on your policy costs $1,577 per year over and above liability only. Lot’s of drivers question when is it a good idea to stop buying full coverage. There is no clear-cut rule of when to stop paying for physical damage insurance, but there is a general convention. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.

Find the cheapest insurance for a Ford Edge in New Mexico

The list below shows some penny-pinching solutions that can help you locate more affordable coverage.

• Do not get into accidents
• Buy a car with high safety ratings
• Drivers with good credit ratings often pay less
• Do not get tickets or violations
• Raise deductibles
• Drop full coverage on older vehicles
• Compare prices frequently to find the best deal

The last suggestion is very critical, as was pointed out in this write-up. Car insurance rates can change significantly in a year, so don’t be tentative to buy a policy from a new company if a better deal can be had.

Sticking with a specific company is fine, but we do not recommend it if that loyalty ends up costing lots of hard earned cash every month. If you have a few minutes, compare prices to find cheaper car insurance for a Ford Edge.

Who is cheaper: Progressive, Geico, State Farm, or Allstate?

If you are looking for the best insurance for an Edge, four of the best places to start are Progressive, Geico, State Farm, and Allstate. When added together, they insure 48.5% of all vehicles in the U.S.. The data below points out ratings and policy coverage options shoppers can expect to find with each one.