Car insurance is something no driver can afford to put off purchasing, and while certain providers may provide more competitive rates than others, there is no one-size-fits-all carrier out there; customer service might be key while others prefer having access to an app which lets them pay and report claims from home.
New Mexico’s minimum car insurance requirements do not provide adequate protection in case of a serious accident, so it’s crucial to choose an affordable policy with ample protection. Full coverage offers you and your vehicle the greatest defense in such an incident; however, comprehensive and collision policies with $1,000 deductibles typically cost 154% more per year in New Mexico.
Age, location and credit score all play an integral part in determining car insurance prices in New Mexico. Younger drivers tend to pay more because of increased risks for accidents and theft on the roads posed by young drivers that lead to higher premiums.
Young drivers may be able to reduce some of the higher insurance rates they incur by remaining on their parent’s policy or purchasing one themselves when they turn 18. Unfortunately, drivers with poor credit often struggle to find affordable policies – on average ValuePenguin reports they typically pay up to 80% more than drivers with stellar credit for full coverage policies.
Pricey New Mexico auto insurance policies depend on several other factors, including your driving record and the type of car you drive. Speeding tickets and at-fault accidents will increase premiums while DUI convictions make finding affordable insurance difficult or impossible altogether.
There are several effective strategies available to you in New Mexico for lowering your car insurance rate, including comparison shopping and decreasing mileage driven. Also consider decreasing how often you drive as this will decrease your risk of an accident and thus your premium. With a clean driving record and low mileage vehicle, chances are increased of qualifying for a safe driver discount that could further lower it; simply take time and compare prices before selecting a provider who provides both affordability and customer service excellence.