6 Ways to Save Money on Car Insurance in Los Lunas

Having to pay for overpriced car insurance can take a big chunk out of your savings account, especially in this economy. Shopping your coverage around is a smart way to cut your insurance bill.

You have multiple insurers to pick from, and even though it’s nice to have multiple companies, it can be more challenging to find the best rates for your vehicles.

You should make it a habit to compare prices at least once a year because insurance rates are usually higher with each renewal. Just because you found the best price a few years ago other companies may now be cheaper. Forget anything you know (or think you know) about car insurance because we’re going to demonstrate the things you must know in order to reduce your cost while improving coverage.

Finding affordable coverage in Los Lunas is not rocket science. If you currently have car insurance, you will most likely be able to cut costs considerably using this information. But New Mexico drivers can benefit from knowing how big insurance companies sell online.

How to Compare Los Lunas Car Insurance Costs

All major car insurance companies like Progressive, GEICO, Allstate and State Farm quote coverage prices on their websites. The process doesn’t take a lot of time as you simply enter the coverages you want as detailed in the form. Once you submit the form, the system will obtain reports for credit and driving violations and returns pricing information based on these and other factors. This makes comparing rates easy, but the time required to go to several different sites and enter the same data into a form can get tiresome after awhile. But it’s absolutely necessary to get many rate quotes in order to get lower prices.

The preferred way to find cheaper rates is to use a quote form that analyzes rates from several companies at one time. It’s a real time-saver, requires much less work on your part, and makes online shopping much easier to do. Once the form is submitted, it is rated with multiple companies and you can pick any or none of the returned quotes. If the quotes result in lower rates, it’s easy to complete the application and purchase the new policy. This process can be completed in less than 10 minutes and could lower your rates considerably.

To save time and compare rates using this form now, click here and begin entering your coverage information. If you have your current policy handy, we recommend you enter the coverages exactly as shown on your declarations page. Using the same limits helps guarantee you will be getting rate quotes based on the exact same insurance coverage.

Policy discounts you shouldn’t miss

Companies don’t always publicize all available discounts in an easy-to-find place, so we break down some of the more common as well as the least known savings tricks you should be using.

• Pay Now and Pay Less – If you pay your bill all at once instead of making monthly payments you could save 5% or more.
• Drive Less and Save – Fewer annual miles can qualify you for discounted rates on garaged vehicles.
• No Charge for an Accident – Some insurance companies will forgive one accident before hitting you with a surcharge as long as you don’t have any claims for a particular time prior to the accident.
• E-sign – Certain companies will discount your bill up to fifty bucks for buying your policy over the internet.
• Federal Employees – Employees or retirees of the government can earn a discount up to 10% with certain companies.
• Seat Belts Save – Requiring all passengers to use a seat belt can save up to 15% on the medical payments or PIP coverage costs.

As a disclaimer on discounts, most discounts do not apply to the entire cost. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Just because it seems like adding up those discounts means a free policy, it doesn’t quite work that way.

Insurance agents can help

When buying the right insurance coverage, there isn’t really a “perfect” insurance plan. Every insured’s situation is different so your insurance should reflect that For instance, these questions might point out if your situation might need an agent’s assistance.

• Do no-fault laws apply in New Mexico?
• Who is covered when they drive my vehicle?
• Should I sign the liability waiver when renting a car?
• Does my personal policy cover me when driving my company car?
• How high should my uninsured/underinsured coverage be in New Mexico?
• I don’t drive much so do I pay less?
• What are the financial responsibility laws in New Mexico?
• Is business equipment covered while in my vehicle?
• When would I need rental car insurance?
• Should I buy additional glass protection?

If you’re not sure about those questions but you know they apply to you, you may need to chat with an agent. If you don’t have a local agent, complete this form or click here for a list of car insurance companies in your area.

More tips and info about car insurance can be found at the New Mexico Insurance Division website. Visitors are able to view a list of available companies, file complaints about a company, and read consumer alerts.

Auto insurance coverages

Having a good grasp of your policy helps when choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverage types found on most car insurance policies.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for chiropractic care, dental work and X-ray expenses. The coverages can be used to fill the gap from your health insurance program or if you lack health insurance entirely. Coverage applies to you and your occupants in addition to being hit by a car walking across the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Liability auto insurance

Liability insurance protects you from injuries or damage you cause to people or other property in an accident. It protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 100/300/100 which stand for $100,000 bodily injury coverage, $300,000 for the entire accident, and property damage coverage for $100,000.

Liability insurance covers claims such as medical expenses, funeral expenses and court costs. How much liability coverage do you need? That is a personal decision, but you should buy as much as you can afford. New Mexico state law requires minimum liability limits of 25,000/50,000/10,000 but it’s recommended drivers buy more coverage.

Comprehensive or Other Than Collision

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims such as hitting a deer, fire damage, a tree branch falling on your vehicle and theft. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Collision coverage

Collision insurance pays for damage to your vehicle caused by collision with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as hitting a mailbox, colliding with another moving vehicle and sideswiping another vehicle. This coverage can be expensive, so you might think about dropping it from lower value vehicles. You can also bump up the deductible to get cheaper collision coverage.

UM/UIM Coverage

Your UM/UIM coverage provides protection when the “other guys” do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your vehicle.

Due to the fact that many New Mexico drivers carry very low liability coverage limits (25/50/10), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important.

Compare but don’t skimp

Low-cost car insurance is available both online in addition to many Los Lunas insurance agents, so you should compare both in order to have the best chance of saving money. A few companies do not provide you the ability to get quotes online and most of the time these small, regional companies sell through independent agents.

When shopping online for car insurance, don’t be tempted to reduce needed coverages to save money. There are a lot of situations where drivers have reduced full coverage only to discover later that their decision to reduce coverage ended up costing them more. The aim is to get the best coverage possible at an affordable rate.