How Much Does Insurance Cost for a Honda Pilot in New Mexico?

How Much Does Insurance Cost for a Honda Pilot in New Mexico?

The chances of buying cheaper auto insurance for a Honda Pilot in New Mexico depends upon a large number of rating criteria like your marital status, if you have maintained coverage continuously, and any past driving violations you may have had. Drivers on average pay around $940 per year for Pilot insurance, but that price is based on cost data for a 40-year-old married female who needs full coverage including both comprehensive and collision and $250 deductibles.

Most likely you aren’t exactly 40 years old or even a female, you might be single instead of married, or maybe you are just looking for cheap liability insurance. Having different needs demonstrates why the most reliable way to find affordable rates for your Honda is to quote often and with as many companies as possible. To cut your rates now, get a free quote and you will be able to compare rates from the best auto insurance companies that insure vehicles in New Mexico.

Insure Your Honda for Less

The specific trim level will most likely have an effect on the cost of insurance, so the rate you will pay to insure a Pilot LX 2WD model will be $102 less than the cost to insure the high end Pilot Touring 4WD version, as shown below.

Honda Pilot Insurance Rates in New Mexico
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Pilot LX 2WD $214 $338 $338 $20 $102 $1,012 $84
Pilot EX 2WD $242 $338 $338 $20 $102 $1,040 $87
Pilot EX 4WD $242 $338 $338 $20 $102 $1,040 $87
Pilot EX-L 2WD $242 $412 $338 $20 $102 $1,114 $93
Pilot EX-L 4WD $242 $412 $338 $20 $102 $1,114 $93
Pilot Touring 2WD $242 $412 $338 $20 $102 $1,114 $93
Pilot Touring 4WD $242 $412 $338 $20 $102 $1,114 $93
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Data rating is based on married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Rates do not factor in the specific area where the vehicle is garaged which can revise premium rates noticeably.

Ratings for New Mexico auto insurance companies

Buying coverage from a good quality insurer can be a challenge considering how many different companies there are to choose from in New Mexico. The company ratings below may help you pick which car insurance companies you want to consider shopping prices with.

These ratings are for companies who write in the majority of U.S. states, so companies that may only write in New Mexico will not be included in these rankings. To compare price quotes and find cheaper insurance for a Honda Pilot, follow this link.

Top 15 Auto Insurance Companies in New Mexico
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Titan Insurance 90 87 91 95% A+ 89.6
Progressive 84 91 93 87% A+ 89.5
Allstate 85 90 92 88% A+ 89.3
Nationwide 87 88 84 90% A+ 88.7
Liberty Mutual 84 87 93 88% A 88.5
21st Century 85 86 87 88% A 86.7
Esurance 85 80 95 87% A+ 85.9
Safeco 85 85 85 86% A 85.8
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Data Source: Insure.com Best Car Insurance Companies

Does full coverage make sense?

Finding cheap insurance for a Honda Pilot in New Mexico is probably important to the majority of people, and one of the easiest ways to find cheap insurance is to not buy comprehensive and collision coverage. The information below shows the difference between car insurance rates when comparing full coverage to liability only. The premiums assume no claims or violations, $500 deductibles, single status, and no discounts are applied.

If all age groups are averaged, comprehensive and collision coverage on your policy costs $1,831 per year more than just buying liability only. At some point, about every driver wonders if you should buy full coverage. There is no exact formula to drop full coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your vehicle’s book value is $4,500 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $3,500 after paying the physical damage deductible. If you are paying more than $350 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.

There are some situations where only buying liability is not advised. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

How to get cheap insurance for a Honda Pilot in New Mexico

The list below details some of the better money-saving ideas that can help New Mexico drivers find the cheapest car insurance.

  • Too many claims can make car insurance unaffordable
  • Buy your auto and home insurance from the same company and save
  • Do not get into accidents that are your fault
  • Safe vehicles cost less to insure
  • Do not get traffic citations
  • Drop full coverage on older vehicles
  • Shop around for cheaper rates regularly

The final tip is certainly significant, as we hit on in this piece. Coverage rates fluctuate considerably, so don’t hesitate to change insurance companies if a cheaper price is available. Brand loyalty is not necessarily bad, but it’s not recommended if that inflexibility results in costing you money that could be spent on other things. If you have a few minutes, compare prices to find cheaper car insurance for a Honda Pilot.