Cheapest car insurance companies in Albuquerque
Central Insurance and Geico offer the cheapest car insurance rates in Albuquerque for 2023, according to a study by Insurance.com.
Central Insurance offers the cheapest car insurance premium for Albuquerque drivers at an annual rate of $1,492 a year, on average.
Car insurance prices in Albuquerque can differ based on where you live, your driving history, coverage limit, and your insurance provider. To find the best deal on auto insurance, it's wise to compare quotes from various companies. Below are the companies that offer cheap car insurance to Albuquerque drivers.
| Companies | Average annual rates |
|---|---|
| USAA | $1,173 |
| Central Insurance | $1,492 |
| Geico | $1,657 |
| Progressive | $1,852 |
| Nationwide | $1,969 |
| State Farm | $2,132 |
| Allstate | $3,149 |
| Farmers | $3,259 |
| Iowa Farm Bureau | $3,424 |
| Kemper Insurance | $3,582 |
Cheapest car insurance cost in Albuquerque by Age Group
Central Insurance offers the cheapest full coverage car insurance for teenage drivers in Albuquerque, with an average annual cost of $3,327 per year. Insurance companies deem teenagers as "high-risk" drivers due to their inexperience and statistically higher accident rates. This elevated risk profile translates to significantly higher car insurance costs for young drivers compared to their older counterparts.
However, teen drivers can keep their insurance rates low by taking advantage of the good student discount or by staying on their parent's car insurance policy for as long as possible.
For young drivers in Albuquerque, USAA has the cheapest auto insurance rates, with an average annual cost of $1,704 annually.
You'll find that car insurance rates are much lower by the time drivers reach their 30s than they are for drivers in their 20s. The cheapest auto insurance company for adult drivers in Albuquerque is USAA. Its average rate for a full coverage car insurance policy is $1,189 per year.
Albuquerque senior drivers seeking affordable car insurance should look no further than USAA. It offers the cheapest car insurance rates for seniors, with an average annual premium of $1,267. It makes USAA a good choice for seniors who want to save money without sacrificing coverage.
| Company | Teens | Young Adults | Adults | Seniors |
|---|---|---|---|---|
| Central Insurance | $3,327 | $2,259 | $1,546 | $1,734 |
| USAA | $3,414 | $1,704 | $1,189 | $1,267 |
| Geico | $5,085 | $2,564 | $1,720 | $1,730 |
| State Farm | $6,052 | $3,515 | $2,146 | $2,071 |
| Iowa Farm Bureau | $6,331 | $4,265 | $3,388 | $3,224 |
| Nationwide | $6,706 | $3,202 | $1,981 | $1,882 |
| Progressive | $7,406 | $2,955 | $1,888 | $1,903 |
| Allstate | $10,853 | $4,968 | $3,124 | $3,303 |
| Farmers | $11,737 | $5,934 | $3,097 | $3,371 |
| Kemper Insurance | $16,462 | $5,333 | $3,404 | $3,583 |
Cheapest car insurance companies in Albuquerque by driver profile
Insurers in Albuquerque consider various factors, including driver profile, to calculate car insurance premiums. You can expect to pay significantly higher rates if you have a history of accidents or traffic citations on your driving record. On the other hand, those with a clean driving record enjoy more affordable coverage.
When it comes to finding the cheapest car insurance rates in Albuquerque, make sure you compare insurance quotes from various insurers. By comparing rates from multiple providers, you can get the coverage you need while saving money.
Here's a list of car insurance companies that offer cheap insurance rates in Albuquerque based on driver profile.
- Cheapest for a driver with poor credit: Geico
- Cheapest for a driver with a speeding ticket: USAA
- Cheapest for accident: State Farm
- Cheapest for DUI: State Farm
Cheapest for a driver with poor credit: Geico
Geico is the cheapest car insurance option for drivers with poor credit. Its average annual auto insurance cost for Albuquerque drivers is $1,752.
Drivers with poor or bad credit scores in Albuquerque can consider the following car insurance companies to get the affordable car insurance coverage.
| Company | Average annual rates |
|---|---|
| Geico | $1,752 |
| Nationwide | $1,872 |
| USAA | $2,117 |
| Farmers | $2,744 |
| Progressive | $2,747 |
| Allstate | $2,829 |
| State Farm | $2,865 |
Cheapest for drivers with a speeding ticket: USAA
USAA has the cheapest car insurance premiums for drivers with speeding ticket violations on their records in Albuquerque. Its full coverage car insurance policy costs an average of $1,457 per year for drivers aged 30.
Some companies are known for providing the cheapest car insurance rates, but finding the most affordable policy depends highly on individual factors.
Comparing quotes from various car insurance companies can prove beneficial for getting the best deal. With this, you can get the coverage you need at an affordable price.
| Company | Average annual premium |
|---|---|
| USAA | $1,457 |
| Nationwide | $1,544 |
| State Farm | $1,561 |
| Geico | $2,096 |
| Farmers | $2,316 |
| Progressive | $2,371 |
| Allstate | $2,438 |
Cheapest auto insurance after an at-fault accident: State Farm
Finding affordable car insurance rates after an at-fault accident isn't easy, but if you compare quotes, you might find a policy that fits your budget.
In a recent data analysis, Insurance.com found that State Farm offers the cheapest car insurance rates for Albuquerque drivers with at-fault accidents. It provides coverage at an average annual cost of $1,589.
| Company | Average annual rates |
|---|---|
| State Farm | $1,589 |
| USAA | $1,867 |
| Nationwide | $1,987 |
| Geico | $2,366 |
| Farmers | $2,692 |
| Progressive | $3,029 |
| Allstate | $3,157 |
Cheapest auto insurance after a DUI: State Farm
In Albuquerque, State Farm has the cheapest car insurance rates for individuals with DUI on their record. The company provides a full coverage policy at an average cost of $1,561 a year.
Drivers convicted of a DUI offense face substantial increases in their car insurance rates. To get affordable premiums, you should compare quotes from different insurance carriers.
| Company | Average annual rates |
|---|---|
| State Farm | $1,561 |
| USAA | $2,468 |
| Progressive | $2,562 |
| Farmers | $2,784 |
| Geico | $2,797 |
| Nationwide | $2,844 |
| Allstate | $3,576 |
Average car insurance cost in Albuquerque
On average, Albuquerque drivers pay $2,231 annually, or $186 monthly, for full coverage car insurance policies with a coverage level of 100/300/100. Conversely, the average annual cost of state minimum coverage in Albuquerque is $543.
You pay more for full coverage insurance than the state minimum, but it covers damage to your car besides providing coverage for other driver's vehicle. To lower your premium, consider comparing quotes from different companies.
| Average annual Rates | State minimum average |
|---|---|
| $2,231 | $543 |
Methodology
Insurance.com commissioned 2023 data for the cheapest car insurance rates in cities from Quadrant Data Services for all 50 states and Washington D.C. Rates are based on the following profile:
- 40-year-old male driver
- Honda Accord LX
- 12-mile daily commute, 10,000 annual miles
- Good credit
- Clean record
While the rates for drivers with poor credit, speeding tickets, DUI and at-fault accidents were sourced from the Auto Problems Report 2023.
Rates are based on coverage limits of:
- $100,000 bodily injury per person
- $300,000 bodily injury per accident
- $100,000 property damage per accident
- $500 comprehensive and collision deductible
Insurance.com analyzed rates from over 34,000 ZIP codes, 56 million quotes, and 136 companies. Based on the analysis, we have created lists of the cheapest companies for different driver profiles. USAA also made it to the list, but it offers services only to current and former military members and their families. Rates sourced from Quadrant Data Services for comparison purposes only; your rates may differ.
