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UPDATED: Mar 17, 2016
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As one of the country’s oldest inland cities, Albuquerque is rich in historical content. Located in “Indian pueblo country,” it is home to the most ancient farming community in the country.
One of its most visited tourist sites, Old Town, was founded in 1706 and eventually came to be known as Albuquerque.
In the city of Albuquerque, drivers aren’t exempt from needing to purchase car insurance. They need to be able to prove that they have bodily injury and property damage liability coverage before they can drive their vehicles on the roads.
If they fail to purchase this car insurance coverage and decide to drive without insurance, they will put their ability to drive at all in jeopardy.
Enter your ZIP code into the FREE tool above now to find great deals on Albuquerque car insurance!
Car Insurance Penalties
Several unpleasant car insurance penalties can be given to people who drive without bodily injury and property damage liability in Albuquerque. Just a few of them are listed below:
- A suspended license
- Suspended vehicle registration
- A no insurance coverage ticket
- Possibly need to file the SR-22 form
Accidental Cancellation of Auto Insurance
A common reason that people are driving without car insurance is because they forget to pay their premiums on time.
When people neglect to diligently pay their premiums every month, the car insurance company cancels the policy. But there are several ways that Albuquerque residents can ensure that this never happens to them.
Albuquerque drivers who pay their premiums in one lump sum won’t have to worry about making monthly car insurance payments.
Since this option decreases the work that car insurance companies must do, it entitles these clients to a discount.
Those clients who can’t afford to pay the entire amount all at once have another option; they can agree to electronic payments that also eliminate the need for car insurance companies to send bills out which usually also results in a discount.
Never Stop Making Auto Insurance Payments
One huge mistake that people make when they no longer need their car insurance coverage is to stop paying for the insurance.
Car insurance companies are required to notify the DMV when their clients cancel their own policies. The DMV will then follow up with these clients, and they will need to be able to prove that they have car insurance coverage or else their licenses may be suspended.
To avoid being contacted by the DMV, people with car insurance need to make sure that they cancel their auto insurance policies when they sell their vehicles or they switch insurance companies.
The easy way for one to manage a policy is to have an online car insurance policy.
Clients also need to tell the DMV that they have done this before the insurance company does, or they will receive the unfriendly notice requiring them to prove they have insurance coverage.
The Insurance Drivers Must Purchase in Albuquerque
To keep from receiving any of the penalties listed above, Albuquerque drivers need to purchase at least $20,000 bodily injury liability coverage for bodily injuries or death to one person.
For injuries and death caused to everyone in the car collision, $40,000 bodily injury liability is required. Property damage liability must amount to at least $10,000.
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High Average Car Insurance Rates
Albuquerque drivers will undoubtedly be quoted high car insurance rates because the average rate in this city has been found to be equal to $1,816.
One reason that Albuquerque car insurance companies charge so much for insurance may be because the city is located in a state that has the most people driving without insurance.
New Mexico has a total of 29 percent of their residents driving without purchasing the state’s minimum requirements for insurance.
Purchasing Only the State’s Limits
Because of the high uninsured motorist statistics, Albuquerque drivers may want to purchase optional coverage.
Since Albuquerque is located within a tort state, drivers hit by an uninsured motorist can sue these people for payment of their medical bills and to have their vehicles repaired. The real possibility exists that these drivers are incapable of paying these bills.
Albuquerque drivers who have only purchased New Mexico’s minimum amounts of liability coverage won’t have insurance to pay their own medical bills or to have their cars repaired.
If the car’s market value is lower than it would cost to repair the vehicle, it would make more sense to purchase another vehicle. But the driver who was hit may not be in good enough financial standing to do either one of those things.
How Optional Coverage Can Help
Auto insurance companies in Albuquerque can prevent the above from happening to their drivers by selling them optional insurance coverage.
Every driver should take the time to compare car insurance by states to insure they are getting the best car insurance rates for New Mexico. These drivers have several choices:
- Uninsured Motorist Bodily Injury
- Underinsured Motorist Bodily Injury
- Uninsured Motorist Property Damage
- Underinsured Motorist Property Damage
- Collision Coverage
- Personal Injury Protection
1. Uninsured motorist bodily injury coverage will pay the drivers’ medical bills as well as the members of their family and the passengers who were riding in the vehicle at the time of the accident. The uninsured motorist property damage insurance will repair the vehicle up to a certain limit set by the state. This insurance can be tapped when Albuquerque drivers have been hit either by someone driving without insurance or after someone hit them and left the scene.
2. Underinsured motorist bodily injury and underinsured motorist property damage insurance is also available to Albuquerque residents. This insurance applies when the person who causes the car collision doesn’t have enough insurance to cover everyone’s medical bills.
In this case, everyone hurt in the accident can sue the underinsured driver, but it may not result in receiving any money for their medical bills.
Underinsured motorist property damage coverage also places a limit on how much it will pay for repairs. In some cases, this limit is $3,500.
Uninsured motorist and underinsured motorist property damage coverage will have some effect if the cost of the repairs fall below the limits, but if this is not the case, the driver who has been hit will still have unpaid bills.
3. Collision coverage is a type of optional insurance ensures that all of the bills for property damage are paid when an uninsured or underinsured motorist can’t do it. With this coverage, if the policyholder’s vehicle is hit by another driver, the policyholder’s repairs will be paid no matter who hit whom. If the car insurance company totals the vehicle, collision coverage will offer the policyholder the market value of the car at the time of the accident.
4. Personal Injury Protection (PIP) insurance may be an Albuquerque driver’s best bet when driving in a city with a high number of people breaking the auto insurance laws. It doesn’t matter who caused the accident; PIP insurance pays medical expenses and funeral costs of those who suffered bodily injuries or death in a car collision.
Finding Optional Coverage
Albuquerque drivers may decide that they need uninsured motorist/underinsured motorist coverage, collision coverage, and PIP insurance. They will also have to make sure that they have the liability coverage they are supposed to purchase.
With Albuquerque car insurance so expensive, these drivers would be doing themselves a big favor by comparing the car insurance quotes that multiple insurance companies can give them.
Car insurance companies require several pieces of information before they can offer someone a quote. None of the information can be omitted, even if it seems that it doesn’t relate to auto insurance.
For example, auto insurance companies will be interested in their prospective clients’ occupations. If the occupation is considered to be low risk, the person working in that profession also has the privilege of being part of a low risk occupation.
Each auto insurance company has a different formula for determining who is a high risk. Sometimes people who are engineers will be quoted the lowest rates because insurance companies have found that engineers cause the fewest accidents.
In order to find out if they belong to a low risk demographic, Albuquerque drivers just need to start comparing auto insurance companies and their quotes now.
Don’t wait any longer! Find cheap car insurance and begin saving big by entering your ZIP code below!