Auto Insurance in Hobbs – 9 Discounts Consumers are Missing

Buying the cheapest Hobbs auto insurance online can seem to be intimidating for people who are new to online price comaprisons. With such a large number of online companies, how can you possibly compare every one to find the cheapest available price?

You need to price shop coverage yearly since rates go up and down regularly. Just because you had the best deal six months ago other companies may now be cheaper. Block out anything you think you know about auto insurance because I’m going to let you in on the secrets to the quickest way to eliminate unnecessary coverages and save money.

Buying car insurance in Hobbs is quite easy. Just about every driver who is shopping for auto insurance stands a good chance to be able to find lower rates. Nevertheless, New Mexico car owners do need to learn the way companies price online insurance because it can help you find the best coverage.

Vehicle Insurance Comparison

All the larger auto insurance companies provide price estimates online. The process is quite easy as you just enter as detailed in the form. Once you submit the form, the company’s rating system collects information on your driving record and credit history and quotes a price determined by many factors.

Being able to quote online streamlines rate comparisons, but having to visit a lot of sites and complete many quote forms can get tiresome after awhile. But it’s very important to have as many quotes as possible in order to find a lower rate.

The better way to compare rates

A more efficient way to locate the lowest prices makes use of a single form that analyzes rates from many companies. It saves time, requires less work, and makes online price comparison a little more enjoyable. As soon as the form is sent, it gets priced and you can select any or none of the quotes returned. If the quotes result in lower rates, it’s easy to complete the application and purchase coverage. It just takes a couple of minutes and could lower your rates considerably.

To use this form to compare rates, click here to open in new window and enter your vehicle and coverage information. If you currently have coverage, we recommend you duplicate deductibles and limits as close as possible to your current policy. This helps ensure you’re receiving an apples-to-apples comparison for similar insurance coverage.

Cut your premium with these nine discounts

Car insurance companies don’t always list every discount in a way that’s easy to find, so we took the time to find both well-publicized and the harder-to-find auto insurance savings.

• Memberships – Belonging to a civic or occupational organization could trigger savings on auto insurance.
• Discount for New Cars – Buying coverage on a new vehicle can cost up to 25% less since new cars are generally safer.
• Use Seat Belts – Buckling up and requiring all passengers to use their safety belts could cut 10% or more off the personal injury premium cost.
• Low Mileage Discounts – Driving fewer miles can qualify you for better rates on cars that stay parked.
• Driver’s Ed – Make teen driver coverage more affordable by requiring them to enroll in driver’s education in school.
• Multiple Vehicles – Insuring multiple vehicles on one policy can get a discount on all vehicles.
• Senior Discount – If you’re over the age of 55, you may be able to get a discount up to 10%.
• One Accident Forgiven – Some insurance companies permit an accident without raising rates so long as you haven’t had any claims for a particular time prior to the accident.
• Safe Driver Discount – Drivers who avoid accidents may receive a discount up to 45% less than drivers with accidents.

Keep in mind that many deductions do not apply to the entire cost. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Just because it seems like you would end up receiving a 100% discount, you won’t be that lucky.

What is the best insurance coverage?

When choosing adequate coverage for your personal vehicles, there is no “perfect” insurance plan. Your needs are not the same as everyone else’s.

For example, these questions may help highlight whether your personal situation could use an agent’s help.

• I don’t drive much so do I pay less?
• Why is insurance for a teen driver so high in Hobbs?
• Am I covered if I drive in a foreign country?
• Am I covered when driving on a suspended license?
• Which companies will insure high-risk drivers?
• I have good health insurance, so how much medical payments coverage do I need?
• Am I covered by my spouse’s policy after a separation?

If it’s difficult to answer those questions but you know they apply to you then you might want to talk to an agent. If you want to speak to an agent in your area, complete this form.

Do auto insurance companies bend the truth?

Auto insurance companies such as State Farm and Allstate regularly use ads in print and on television. They all seem to say the same thing that you’ll save big if you move your policy. How can each company make almost identical claims?

Insurance companies have a certain “appetite” for the type of customer that is profitable for them. For instance, a preferred risk might be profiled as over the age of 40, has no prior claims, and has great credit. A customer that hits that “sweet spot” will get the preferred rates and most likely will pay quite a bit less when switching companies.

Drivers who do not match this ideal profile will be charged higher premiums and this can result in business going elsewhere. Company advertisements say “drivers who switch” but not “drivers who get quotes” save money. That’s the way insurance companies can claim big savings. That is why you need to get as many comparisons as possible. Because you never know which company will provide you with the cheapest rates.

Auto insurance coverage basics

Knowing the specifics of your auto insurance policy can be of help when determining which coverages you need and proper limits and deductibles. Auto insurance terms can be difficult to understand and even agents have difficulty translating policy wording.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage provide coverage for immediate expenses like ambulance fees, prosthetic devices, rehabilitation expenses, dental work and nursing services. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP is not universally available and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your vehicle.

Because many people only purchase the least amount of liability that is required (which is 25/50/10), their limits can quickly be used up. So UM/UIM coverage is a good idea.

Comprehensive insurance – Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like theft, rock chips in glass and falling objects. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Liability coverages – This coverage provides protection from damages or injuries you inflict on other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 25/50/25 that means you have $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery.

Liability coverage protects against things such as medical expenses, pain and suffering and repair bills for other people’s vehicles. How much coverage you buy is your choice, but consider buying as much as you can afford. New Mexico requires minimum liability limits of 25,000/50,000/10,000 but you should consider buying higher limits.

Collision coverage – This will pay to fix damage to your vehicle resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like backing into a parked car, rolling your car and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also increase the deductible to save money on collision insurance.

What is YOUR best insurance company?

As you shop your coverage around, don’t be tempted to skimp on critical coverages to save a buck or two. There have been many cases where drivers have reduced liability coverage limits and discovered at claim time that the few dollars in savings costed them thousands. Your aim should be to find the BEST coverage for the lowest price, not the least amount of coverage.

Discount auto insurance is available from both online companies and also from your neighborhood Hobbs agents, and you need to price shop both to have the best selection. Some auto insurance companies may not provide you the ability to get quotes online and these small, regional companies work with independent agents.

Drivers change insurance companies for many reasons like high prices, delays in paying claims, policy cancellation and even poor customer service. No matter why you want to switch, finding a new company is not as hard as you think.

More New Mexico auto insurance information

Even more information can be read at the New Mexico Insurance Division website. Visitors are able to read state legal mandates and laws, find out industry alerts, and find disaster information.