Cheapest Insurance Quotes for a Nissan Versa in New Mexico

We always joke that when we write about car insurance, the words “affordable” or “cheap” should not be used anywhere to describe car insurance rates. It’s just reality that cheap car insurance for a Nissan Versa can seem impossible to find. Don’t let that ruin your day, because there may be ways you can find and buy car insurance that is easier on your budget.

The likelihood of finding cheaper car insurance for a Nissan Versa in New Mexico hinges on a complex calculation that is influenced by things such as the number of years you have been driving, if you are a frequent claim filer, and if you have a clean driving record. Drivers pay an average rate of $960 every 12 months to insure their Versa, but that rate is an approximation rating a 30-year-old married female driver that wants full coverage including both comprehensive and collision and $250 policy deductibles.

But there is a good chance that you are not 30 and possibly not even female, single instead of married, or maybe you have a teen driver on your policy that needs to be considered. Every policy is rated specifically for the driver, so the only way to find the most affordable coverage for your Nissan is to shop your policy around every couple of years.

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Your Nissan’s trim level tends to have a direct effect on the coverage cost, so the rate you will pay to insure a Versa 1.6 SEDAN model will be $282 less than the insurance cost for the more expensive Versa 1.8 SL SEDAN version, as shown in the chart below.

Table data represents married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Premium costs do not factor in your specific New Mexico location which can influence rates greatly.

Buying cost effective car insurance is challenging, and finding out which companies quote the lowest-priced car insurance rates for a Nissan Versa will require more quotes for comparison. Each auto insurance company has a proprietary formula to set policy rates, so first we will examine the car insurance companies that tend to have lower prices in New Mexico.

It’s a good idea to be aware that New Mexico car insurance rates are impacted by many factors that can increase the price you have to pay. Simply having another birthday, getting divorced, or having an at-fault accident can cause premium changes that can now make some companies more expensive than competitors.

Cheap Insurance Rates for Your Versa

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USAA may have some of the lowest car insurance rates in New Mexico at around $663 annually. Allied, Safeco, Farm Bureau Mutual, and State Farm also are some of the most economical New Mexico auto insurance companies.

As the rates illustrate above, if you currently have coverage with State Farm and switched to Allied, you may see a yearly price reduction of in the vicinity of $377. New Mexico drivers with Farmers could save as much as $382 a year, and The Hartford policyholders might lower prices by up to $406 a year.

These premiums are averages across all insureds and vehicles and do not factor in a specific rate value for a Nissan Versa. So the company that fits your situation best may not even be featured in the rate chart shown above. That affirms the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.

Get discounts on New Mexico auto insurance

Insurers that sell the cheapest insurance for a Nissan Versa in New Mexico may additionally offer special discounts that could potentially reduce rates by as much as 35% or more if you are eligible for them. Larger car insurance companies and their possible discounts can be read below.

• Progressive may have discounts that include continuous coverage, online signing, multi-vehicle, good student, homeowner, online quote discount, and multi-policy.
• SAFECO has savings for bundle discounts, anti-lock brakes, teen safety rewards, teen safe driver, and multi-car.
• American Family includes discounts for Steer into Savings, good driver, early bird, accident-free, mySafetyValet, and good student.
• MetLife may offer discounts for good student, multi-policy, good driver, defensive driver, and claim-free.
• GEICO offers discounts including multi-vehicle, driver training, five-year accident-free, daytime running lights, anti-theft, and emergency military deployment.
• The Hartford offers premium reductions for bundle, driver training, anti-theft, vehicle fuel type, air bag, defensive driver, and good student.

The chart below shows the comparison of annual premium costs with and without discounts applied. The premium estimates are based on a female driver, a clean driving record, no at-fault accidents, New Mexico state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with passive restraint, multiple policy, marriage, homeowner, claim-free, and accident-free discounts applied. When drivers take advantage of discounts, the the average yearly reduction on car insurance for a Nissan Versa is 28% or $662.

Impact of violations and accidents on rates

The best way to earn the best car insurance rates in New Mexico for a Versa is to drive attentively and avoid traffic citations and accidents. The diagram below shows how violations and at-fault claims increase insurance costs for each age group. The data is based on a married female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.

The data in the chart shows the average cost of an auto insurance policy in New Mexico per year with no violations or accidents is $1,119. Get written up for one speeding ticket and the average cost swells to $1,310, an increase of $191 each year. Now add in two accidents along with the one speeding ticket and the annual cost of car insurance for a Nissan Versa jumps again to an average of $3,162. That’s an increase of $2,042, or $170 per month, just for being a little careless behind the wheel!

Progressive, State Farm, Geico, and Allstate compared

If you’re looking for the cheapest insurance for a Versa in New Mexico, four good companies to start with are Progressive, State Farm, Geico, and Allstate. If you put them all together, they insure about 50% of the entire U.S. auto insurance market. Each company has a little bit different set of discounts and options that you can select from. The table below breaks down some of the different options shoppers can find with each company.