Tightwads Lessons for Saving on Lovington New Mexico Car Insurance

If you’re new to shopping for car insurance online, you may be confused by the large number of online companies all offering big savings in Lovington.

Buying car insurance in Lovington is not rocket science. If you have a current car insurance policy or are looking for a new policy, you can use these tips to shop for the lowest rates while maintaining coverages. New Mexico drivers only need to know the proper methods to get comparison rates online.

Which Car Insurance is Cheapest in Lovington?

Lowering your car insurance rates can be quick and easy. The only thing you need to do is invest a few minutes comparing price quotes online with multiple companies. This can be done using a couple different methods.

• One of the best ways consumers can make multiple comparisons would be an industry-wide quote request form (click to open form in new window). This type of form keeps you from doing a different quote for each company you want a rate for. Filling out one form will return quotes from many national carriers. Recommended for those who want to invest the least amount of time.
• A harder way to find lower rates requires you to visit the website for every company you want to comare and fill out their own quote form. For sake of this example, we’ll pretend you want rates from State Farm, Farmers and GEICO. You would have to visit each site to input your insurance information, and that’s why the first method is more popular.

  For a list of links to companies insuring cars in Lovington, click here.

• The hardest method of getting rate comparisons is to spend your day driving to and from local insurance agencies. The internet has reduced the need for local agents unless you want the trained guidance of a licensed agent. However, consumers can price shop online and get advice from an agent in your area.

Whichever method you choose, be sure to compare the exact same coverage limits with every price quote. If you enter different deductibles you will not be able to determine which rate is truly the best in Lovington.

The fine print in car insurance ads

Consumers in New Mexico get pounded daily by advertisements for cheaper car insurance from companies such as State Farm, GEICO and Progressive. They all say the same thing that you can save if you switch your policy.

How do they all claim to save you money?

Insurance companies can use profiling for the type of driver that is profitable for them. An example of a preferred risk might be a mature driver, has no prior claims, and drives newer vehicles. Any driver who fits that profile will get the preferred rates and is almost guaranteed to save quite a bit of money when switching.

Consumers who don’t measure up to the “perfect” profile must pay higher prices which leads to the customer not buying. Company advertisements say “customers who switch” but not “drivers who get quotes” save that much money. That is how insurance companies can confidently make those claims. This illustrates why it’s extremely important to get as many quotes as possible. It’s impossible to know which car insurance company will have the lowest rates.

Verify you’re getting all your discounts

Companies that sell car insurance do not advertise all their discounts very clearly, so we researched both well-publicized and the harder-to-find car insurance savings. If you’re not getting every credit available, you are throwing money away.

• Memberships – Belonging to certain professional organizations could qualify you for a break when buying car insurance.
• Seat Belt Usage – Requiring all passengers to use their safety belts could save 15% on the medical payments or PIP coverage costs.
• Payment Method – If you pay your entire premium ahead of time rather than paying monthly you can actually save on your bill.
• Life Insurance Discount – Some companies give a discount if you purchase a life insurance policy as well.
• New Vehicle Savings – Insuring a new car is cheaper compared to insuring an older model.
• One Accident Forgiven – Certain companies permit an accident before raising your premiums as long as you don’t have any claims for a certain period of time.

As a disclaimer on discounts, some of the credits will not apply to the entire cost. Some only reduce specific coverage prices like physical damage coverage or medical payments. Just because you may think having all the discounts means you get insurance for free, you’re out of luck.

Neighborhood agents for car insurance

A small number of people would prefer to buy from a local agent and that is OK! Licensed agents can answer important questions and help file insurance claims. The best thing about comparing rates online is the fact that you can find the best rates but still work with a licensed agent.

After filling out this form (opens in new window), your insurance data is emailed to companies in Lovington who will compete to get your business. You don’t have to leave your house because quoted prices will be sent directly to your email. It doesn’t get any easier!

Choosing an insurer should depend on more than just the price. Here are some questions to ask:

• Do they feel the quoted coverages are adequate?
• Do they specialize in personal lines coverage?
• Is the agency involved in supporting local community causes?
• Do you have coverage for a rental car if your vehicle is in the repair shop?
• If your car is totalled, how to they determine the replacement cost?
• Is vehicle mileage a factor when determining depreciation for repairs?
• Do they carry Errors and Omissions coverage?
• Are glass claims handled on-site or do you have to take your vehicle to a repair shop?

Choose the right car insurance agent

When searching for local Lovington agents, you must know there are a couple types of agencies that you can select. Lovington agents are either independent (non-captive) or captive. Both write coverage properly, but it’s worth learning the difference between them since it may influence your selection of an agent.

Captive Insurance Agents

This type of agents can only place business with one company and examples are AAA, State Farm, Farmers Insurance and Allstate. These agents are unable to compare other company’s rates so it’s a take it or leave it situation. Captive agents are well schooled on the products they sell and that can be a competitive advantage. Consumers frequently buy insurance from these agents mostly because of the prominence of the brand and solid financial strength.

The following are Lovington captive insurance agents that are able to give rate quotes.

• Farmers Insurance Group – 12 W Central Ave – Lovington, NM 88260 – (505) 396-2616

Independent Agents (or Brokers)

Independent insurance agents are not required to write business for one company but instead can place your coverage with lots of companies and possibly get better coverage at lower prices. To move your coverage to a new company, the business is moved internally and you won’t have to switch agencies. When comparing rates, it’s a good idea to include at a minimum one independent agency for maximum quote selection. They also have the ability to place coverage with different regional companies which may provide better rates.

Below are independent agencies in Lovington willing to provide rate quotes.

• George Gandy Insurance – 614 S Main Ave – Lovington, NM 88260 – (505) 396-5516
• Western States Insurance – 212 N Love St – Lovington, NM 88260 – (505) 396-1318
• James Wright Agency – 12 W Central Ave – Lovington, NM 88260 – (505) 396-0513

For a complete listing of insurance agents in Lovington, simply jump to this page.

Once you have received positive responses to all your questions and an acceptable price quote, you have narrowed it down to an insurance agent that meets your needs to provide car insurance coverage.

Do I need special coverages?

When choosing the right insurance coverage, there isn’t really a cookie cutter policy. Everyone’s situation is unique.

Here are some questions about coverages that could help you determine if your insurance needs would benefit from professional advice.

• Is my cargo covered for damage or theft?
• When would I need additional glass coverage?
• Does my policy cover me when driving someone else’s vehicle?
• Can I afford low physical damage deductibles?
• When does my teenage driver need to be added to my policy?
• Am I covered when using my vehicle for business?
• Does my policy cover my teen driver if they drive my company car?
• Who is covered by my policy?
• Do I have coverage when making deliveries for my home business?
• How many claims can I have before being cancelled?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed agent. If you want to speak to an agent in your area, complete this form. It only takes a few minutes and can help protect your family.

More detailed New Mexico car insurance information is located at the New Mexico Insurance Division website. Visitors are able to read industry bulletins, find out industry alerts, and get help finding coverage.

Affordable insurance is out there

Cost effective car insurance is attainable online as well as from independent agents in Lovington, and you need to price shop both to have the best rate selection. A few companies don’t offer online quoting and most of the time these regional insurance providers sell through independent agents.

Consumers change insurance companies for any number of reasons including an unsatisfactory settlement offer, being labeled a high risk driver, questionable increases in premium and extreme rates for teen drivers. Whatever your reason, finding a new car insurance company is pretty simple and you could end up saving a buck or two.

While you’re price shopping online, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many cases where an accident victim reduced full coverage only to regret at claim time that it was a big mistake. The aim is to purchase plenty of coverage for the lowest price while still protecting your assets.