New Tricks for Buying Farmington Auto Insurance for the Lowest Rate

Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Believe me when I say there are many Farmington consumers feeling the pinch from expensive auto insurance.

Lots of insurance companies contend for your business, and it can be difficult to compare rates to get the lowest rate

It’s smart to price shop coverage at least once a year because prices are rarely the same from one policy term to another. Even if you think you had the best rates two years ago a different company probably has better rates today. Forget anything you know (or think you know) about auto insurance because you’re about to learn the things you must know in order to buy cheaper auto insurance.

If you currently have a car insurance policy, you will most likely be able to lower your premiums substantially using these techniques. Finding affordable coverage in Farmington is not that difficult. But New Mexico consumers must know the way companies sell online because it can help you find the best coverage.

Automobile Insurance Quotes in Farmington, New Mexico

To find the best auto insurance prices, there are several ways to compare rate quotes from auto insurance companies in your area. The fastest way to compare insurance prices consists of obtaining rate quotes online. This can be accomplished using a couple different methods.

  • The single most time-saving way consumers can analyze rates is a comparison rater form (click to open form in new window). This form saves time by eliminating separate quotes for each company. One quote request will get you rate comparisons from auto insurance companies with the best prices.
  • A less efficient way to compare prices consists of visiting the website of each company and request a quote. For example, let’s say you want comparison quotes from GEICO, Esurance and Travelers. To get each rate you have to spend time on each company’s site to enter your coverage information, which is why the first method is quicker. For a handy list of car insurance company links in Farmington, click here.
  • The least efficient method of getting rate comparisons is driving to different Farmington agent offices. The internet makes this process obsolete unless you want the trained guidance of a licensed agent. You can, however, find lower rates online but buy from a local insurance agent.

It’s up to you which method you use, but ensure you’re using apples-to-apples coverage limits with every price quote. If you enter unequal deductibles or liability limits it’s not possible to decipher which rate is best in Farmington. Just a small difference in coverages may result in large price differences. Keep in mind that quoting more gives you a better chance of getting the best price.

Lower rates by qualifying for discounts

Insurance can cost an arm and a leg, but companies offer discounts to reduce the price significantly. Larger premium reductions will be automatically applied at the time you complete a quote, but a few must be asked about prior to receiving the credit.

  • Defensive Driver – Successfully completing a course in driver safety can save you 5% or more and easily recoup the cost of the course.
  • Own a Home – Owning a house in Farmington can help you save on auto insurance because of the fact that having a home shows financial diligence.
  • Senior Citizens – If you qualify as a senior citizen, you may be able to get a discount up to 10%.
  • Sign Online – A few companies will discount your bill up to fifty bucks simply for signing over the internet.
  • Clubs and Organizations – Participating in a qualifying organization could qualify you for a break when buying auto insurance.
  • Sign Early and Save – Some insurance companies reward drivers for switching to them before your current expiration date. It can save you around 10%.

Keep in mind that some of the credits will not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as liability and collision coverage. Just because you may think having all the discounts means you get insurance for free, you’re out of luck. But any discount will reduce your overall premium however.

What happened to insurance agents?

A small number of people would prefer to buy from a licensed agent and that is a personal choice. The best thing about getting online price quotes is the fact that you can find lower rates but also keep your business local. Supporting local insurance agencies is important particularly in Farmington.Farmington auto insurance

Once you complete this quick form, your information is transmitted to participating agents in Farmington who will compete for your business. There is no need to leave your computer because quoted prices will be sent immediately to your email address. How cool is that?! You can find better rates and a licensed agent to work with.

Insurance agents in Farmington come in two varieties

When looking for an insurance agent, there are two different agency structures that differ in how they can insure your vehicles. Agents can either be independent or captive.

Independent Insurance Agents

Independent agencies are not required to write business for one company so they can insure your vehicles with lots of companies depending on which coverage is best. If your agent finds better pricing, an independent agent can move your coverage and that require little work on your part.

When searching for an agent, we recommend you include price quotes from at least one independent agent to get the best comparison.

Below is a short list of independent agents in Farmington that may be able to provide competitive price quotes.

Sheppeck Agency – 800 E 30th St # G – Farmington, NM 87401 – (505) 327-0448
Cal Mayfield Agency – 2901 E 20th St – Farmington, NM 87402 – (505) 327-4841
ABC Insurance Svc – 3501 E Main St # E – Farmington, NM 87402 – (505) 324-8521
Woods Insurance Svc Inc – 4801 N Butler Ave # 12-101 – Farmington, NM 87401 – (505) 326-1111
Ely Agency – 2420 N Santiago Ave – Farmington, NM 87401 – (505) 327-4821

Agency Captives

Captive agencies can only place business with one company such as American Family, State Farm and Allstate. These agents are unable to give you multiple price quotes so they are skilled at selling on more than just price. Captive agents are usually quite knowledgeable in insurance sales and that can be a competitive advantage.

Listed below are captive insurance agents in Farmington that can give you price quote information.

Allstate Insurance Co – 3030 E Main St # X9 – Farmington, NM 87402 – (505) 324-0480
Farmers Insurance Group – 4250 E Main St – Farmington, NM 87402 – (505) 327-9636
State Farm Insurance – 3838 E Main St – Farmington, NM 87402 – (505) 325-0214
Farm Bureau Insurance – 2603 E Main St – Farmington, NM 87401 – (505) 326-0043

For a full directory of Farmington captive insurance agents, view this link.

Selecting an auto insurance agent shouldn’t rely on just a cheap price. Any agent should be forthright in answering these questions:

  • If you are a high risk driver, do they have special markets for your coverage?
  • What insurance companies do they work with?
  • Do they regularly work with personal auto policies?
  • Are you getting all the discounts the company offers?
  • If your car is totalled, how to they determine the replacement cost?
  • Do they assist clients in filing claims?
  • How often do they review policy coverages?

Once you have received answers to your satisfaction and an affordable coverage quote, chances are good that you have found an insurance agent that can adequately provide auto insurance.

More information is located on the website for the New Mexico Insurance Division located here. New Mexico drivers can file complaints about a company, find out industry alerts, download brochures, and get help finding coverage.

The best insurance company isn’t always the cheapest

Low-cost auto insurance can be found from both online companies as well as from independent agents in Farmington, and you should be comparing both to get a complete price analysis. Some insurance companies don’t offer you the ability to get quotes online and most of the time these smaller companies sell through independent agents.

When shopping online for auto insurance, do not reduce needed coverages to save money. In many instances, an insured cut liability coverage limits and discovered at claim time that they should have had better coverage. Your strategy should be to purchase a proper amount of coverage at a price you can afford while still protecting your assets.