Who Has the Cheapest Insurance Quotes for a Hyundai Sonata in New Mexico?

The chances that you’ll find affordable insurance for a Hyundai Sonata in New Mexico hinges on a complex formula that factors things like your gender, if you have recent claims, and driving citations. New Mexico drivers on average will pay $950 a year to buy insurance for a Hyundai Sonata, but that cost is an approximation rating a 40-year-old single male with full physical damage coverage and $1,000 policy deductibles.

Most likely you are not 40 and possibly not even male, married instead of single, and maybe you have sub-par credit that needs to be factored in. Insurance prices are based on the driver profile the best way to find cheap insurance prices for your Hyundai is to start the habit of comparing rates at least once a year. In less than five minutes you can get rates from some of the cheapest companies that offer coverage in New Mexico.

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The trim level of your Sonata will be a contributing factor to the insurance rate, so the price you will be charged to insure a Sonata GLS 4-Dr Sedan trim level will cost $74 less than the insurance cost for the higher-end Sonata Limited 4-Dr Sedan version, as demonstrated by the prices below.

Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Prices do not factor in specific New Mexico garaging location which can alter coverage prices considerably.

Insuring your vehicle with the top insurance company can be difficult considering how many choices you have in New Mexico. The rank data shown below may help you select which insurers to look at putting your business with. These ratings are only made up of large, nationwide insurance companies, so companies that only write business in New Mexico or surrounding areas are not taken into consideration for the list.

Responsible drivers pay cheaper insurance rates

In a perfect world, the best way to snag cheap insurance premiums for a Sonata is to drive safely and avoid traffic citations and accidents. The example below highlights how traffic violations and at-fault claims increase premium costs for different ages of insureds. The premium estimates are based on a single male driver, full coverage, $250 deductibles, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 3945,4237,6747],[‘Age 30’, 2047,2339,4847],[‘Age 40’, 2023,2315,4825],[‘Age 50’, 1841,2135,4641],[‘Age 60’, 1783,2071,4579],[‘Age 70’, 2169,2463,4971]]);var options = {title: ‘Effect of Violations and Accidents on New Mexico Hyundai Sonata Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Hyundai Sonata in New Mexico’,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);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The chart shows that the average cost of an auto insurance policy per year with no violations or accidents is $2,301. Get one speeding ticket and the average cost hikes up to $2,593, an increase of $292 each year. Then add two accidents along with the one speeding ticket and the annual cost of insurance for a Hyundai Sonata goes up to an average of $5,102. That’s an increase of $2,800, or $233 per month, just for not driving carefully!

Who has the cheapest Sonata insurance?

New Mexico insurance rates are impacted by many factors which can significantly increase or decrease the price you pay. Getting older, moving to a different location, or getting a DUI can produce rate changes that can make some companies more affordable than others.

Not only may your risk profile change, but car insurance companies change their prices as often as every three months to reflect underwriting profits or losses. Significantly higher losses may result in more expensive prices, while profitable underwriting can cause lower-cost Sonata insurance rates.

The data below shows rates for the cheapest car insurance in New Mexico for a 45-year-old female driver with no prior claims, no tickets, and a good credit rating. If we compare prices based on her current rating profile, USAA might quote the most affordable car insurance rates in New Mexico at $657 a year. This is $911 less than the average rate paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers are also included in the top five cheapest New Mexico auto insurance companies.

google.charts.setOnLoadCallback(drawNMWitcqcibChart);function drawNMWitcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[‘USAA’, 657, ‘#0D6781’],[‘Allied’, 920, ‘#0A556B’],[‘Safeco’, 1014, ‘#084659’],[‘Farm Bureau Mutual’, 1166, ‘#063A4A’],[‘Farmers’, 1263, ‘#05303D’]]);var options = {title: ‘Best Car Insurance Rates for a Hyundai Sonata’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1363,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwitc’));chart.draw(view, options);}

Now let’s give the driver from the first set of rates some claims, a lower credit score, and a traffic ticket or two. Since each company has a proprietary formula to determing premium rates, comparing quotes most likely will result in a slightly different list of the cheapest companies as shown below.

google.charts.setOnLoadCallback(drawNMWcqcibChart);function drawNMWcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[‘The Hartford’, 1458.6, ‘#FF8E00’],[‘Central Mutual’, 1460.8, ‘#D47600’],[‘Allied’, 1472, ‘#B06200’],[‘USAA’, 1485.5, ‘#925100’],[‘Safeco’, 1521, ‘#794300’]]);var options = {title: ‘New Rates Using Different Rating Criteria’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 300,’chartArea’:{left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1621,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwc’));chart.draw(view, options);}

The Hartford now has the lowest price on auto insurance in New Mexico with Central Mutual, Allied, USAA, and Safeco completing the list. This example shows why it is critical to take the time to shop around when trying to get the most economical auto insurance rates for a Hyundai Sonata. Car insurance prices are influenced by many things and change substantially, so the most economical company the last time you checked may now be an over-priced policy.

How to find the cheapest insurance for a Hyundai Sonata in New Mexico

Lowering your rates is not difficult, and here are some of the recommended penny-pinching suggestions that can help New Mexico drivers quote lower-cost car insurance.

• Multi-policy discounts save money
• Save money by obeying traffic laws and keeping a clean driving record
• Lower rates by purchasing a safer vehicle
• Avoid at-fault accidents and claims
• Pay for smaller claims out-of-pocket
• Full coverage may not be needed on older vehicles
• Check for cheaper rates once a year

The last tip in the list is very valuable, as we stressed in this piece. Car insurance prices in New Mexico fluctuate constantly, so drivers shouldn’t be resistant to change insurance companies if a more affordable price is available.

Brand loyalty is not necessarily bad, but is isn’t recommended if that loyalty ends up costing hundreds of dollars a year. If you have a few minutes, now is a great time to shop around to find cheaper insurance for a Hyundai Sonata.

Best cheap Hyundai Sonata insurance quotes

There are quite a few ways to quote and buy insurance in New Mexico, but the most common are through an independent agent, a captive (or exclusive) agency such as Allstate or Auto-Owners, or direct online or over the phone from a company like Geico or Progressive. They all have the same basic principle, but shoppers should understand the differences in how they price policies.

Independent insurance agents have contracts with multiple insurance companies and can compare coverage rates with all of them. They are not restricted to one company and can quote rates with many companies, which may provide you with better odds of saving money. If your agent finds a cheaper company, your agent can just switch to a different company without you having to go to a different agency.

An exlusive, or captive, agency is only able to place business with a single company, two examples being a Farmers or Allstate agent. Exclusive agents are unable to shop your coverage around, which does not give you the best rate comparison.

Buying from a direct company means forego a local insurance agent and buy direct online or over the phone from a company like Progressive or Esurance. Shopping direct may be preferred by drivers who do not need advice for risk management and have some degree of understanding of what specific coverages they need.

What is the best method to buy the cheapest insurance for a Hyundai Sonata in New Mexico? It would be simple to say buying direct yields the cheapest rates since no commissions are paid to an agent, but that is not always the case. An argument could also be made that using an independent agent is the best way to go because you have more choices, but that assumption is not true either. In many cases, exclusive agencies may have very competitive prices well below independent agents AND direct companies.

Since insurance prices vary so much, the only real way to make sure you’re not overpaying for insurance is to compare, compare, and compare some more. We recommend you get price quotes from all three in order to have enough rates to compare. For a list of companies with cheap rates in New Mexico, click here to view.