Who Has the Cheapest Insurance for a Chevrolet Traverse in New Mexico?

Anytime the topic is auto insurance, the words cheap or affordable should not be used as a descriptor for car insurance rates. Please forgive the oxymoron, but cheap car insurance for a Chevrolet Traverse can be extremely hard to find. Don’t let that get you down, though, because we will show you how you can still find and buy auto insurance that you can fit into your budget.

The odds of finding affordable auto insurance for a Chevrolet Traverse in New Mexico hinges on a lot of things such as how far you commute, your credit score, and deductibles for comprehensive and collision coverage. New Mexico drivers pay an average rate of $840 each year to insure a Traverse, but that policy rate is a valuation that rates a 50-year-old married male with comprehensive and collision coverage and $100 physical damage deductibles.

That rate won’t apply to everyone, because more than likely you are not a 50-year-old male, you might be single instead of married, or maybe your Traverse is a different trim level than the example. Even a very minor difference in quote information can produce large changes in the cost of insurance.

Auto insurance is unique to every driver, so the best method for finding the cheapest insurance price for your Chevrolet is to quote often and with as many companies as possible. Rate quotes are easy and you can get prices from the best auto insurance companies that offer coverage in New Mexico.

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The specific trim level will most likely have an effect on price, so the cost to insure a Traverse LS 2WD model will be $104 cheaper than the cost to insure the higher-end Traverse LTZ AWD version, as shown in the prices below.

Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Prices do not factor in vehicle garaging location which can revise premiums considerably.

New Mexico insurance company ratings

Finding a highly-rated car insurance provider can be a challenge considering how many different insurance companies sell coverage in New Mexico. The ranking information below may help you analyze which car insurance providers to look at when trying to find the cheapest insurance for a Chevrolet Traverse.

These ratings are only made up of the largest companies in the United States, so companies without a large exposure will not be included in these rankings. To view rates from the insurers below and more, simply click here.

Top 10 Major Auto 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 Auto Insurance Companies in New Mexico Ranked by Value

1. USAA
2. American Family
3. The Hartford
4. Titan Insurance
5. The General
6. State Farm
7. AAA Insurance
8. Nationwide
9. Allstate
10. 21st Century

Top Companies for Chevrolet Traverse Insurance in New Mexico

The information below demonstrates how deductible levels can influence insurance premiums when getting quotes for cheap insurance for a Chevrolet Traverse. The data assumes a single male driver, full physical damage coverage, and no policy discounts are applied.

The chart above illustrates that a 40-year-old driver could save $328 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $494 by selecting a $1,000 deductible. Even younger drivers, like the Age 20 category, could reduce their rates up to $1,070 or more just by choosing higher deductibles when buying full coverage. When insureds make the decision to increase the deductibles on their policy, it will be required to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Insurance rates are higher with tickets and accidents

The recommended way to obtain affordable insurance rates for a Traverse is to drive carefully and avoid traffic citations and accidents. The information below illustrates how traffic citations and accidents can drive up insurance costs for each age group. The rate quotes are based on a married male driver, full coverage, $500 deductibles, and no discounts are applied to the premium.

The chart shows that the average cost of car insurance in New Mexico per year with no violations or accidents is $1,327. Get written up for two speeding tickets and the average cost surges to $1,826, an increase of $499 each year. Now add two accidents along with the two speeding tickets and the yearly cost of insurance for a Chevrolet Traverse goes up to an average of $3,732. That’s an increase of $2,405, or $200 per month, just for not being attentive to the road!

Allstate, Geico, State Farm, and Progressive compared

If you’re looking for the cheapest insurance for a Traverse, four companies to definitely compare rates with are Allstate, Geico, State Farm, and Progressive. The table below shows some of the different options that policyholders can buy.

Who has the cheapest Chevrolet Traverse insurance quotes?

There are quite a few ways to comparison shop for insurance in New Mexico, but the most common methods are using an exclusive insurance agency like Allstate or State Farm, a non-exclusive or independent agent, or direct online or over the phone from a company like Progressive or Geico.

They all follow the same basic process, but insurance shoppers should know the differences in how they price policies.

Independent insurance agents write business for many companies and can get rate quotes from each one. Independent agents have the freedom to provide you with more rates, which may give you the best chance of saving money. If a cheaper price is found, your agent can switch companies which prevents you from having to find an new insurance agent.

A captive or exclusive agent is usually just provide rates from just one company such as a Farmers or Allstate agent. These agents are not able to place coverage with different providers, so they have to upsell other benefits.

When you buy insurance direct, you bypass the middleman (the agent) and instead shop buying direct from a company like Geico or Esurance. This option can be a good choice for families who do not need risk management and understand what coverages they need.

What is the best way to find the cheapest insurance for a Chevrolet Traverse in New Mexico? The majority of insurance shoppers assume that buying from a direct company results in the cheapest rates because you bypass the middleman, but unfortunately, it’s not that cut and dried. It could also be said going through an independent agent guarantees the lowest rates since there are more companies to choose from, but that is not accurate either. In many circumstances, exclusive agents have price quotes that independents and direct companies can’t touch.

Due to the fact that insurance rates vary so much, the best method to make sure you’re not overpaying for insurance is to get quotes and compare. In a perfect world, youll get rate quotes from all three to give yourself the best selection. A great place to start is our list of online companies offering discounts: click here to view.