Cheapest Insurance for a Ford Escape in New Mexico

When writing about auto insurance, the words cheap or affordable shouldn’t be used anywhere in the article. It’s a simple fact that cheap auto insurance for a Ford Escape can seem impossible to find. Don’t let that bother you, though, because we will teach you how you can still get auto insurance that is cheaper than what you are paying now.

Your odds of finding the best cheap car insurance for a Ford Escape in New Mexico is dependent upon a whole bunch of factors such as if you own the home you live in, your profession, and driving violations. New Mexico drivers on average will pay $1,030 annually to insure their Escape, but that rate is an estimation based upon a 30-year-old single female who needs full coverage and $250 policy deductibles.

But there is a high likelihood that you are not exactly 30 years old and possibly not even female, possibly married instead of single, and maybe you want different deductibles. Even a slight change in policy rating data could end up in a significant change in the price of a policy.

Auto insurance is unique to each driver, so your best chance at finding the most affordable coverage for your Ford is to do a thorough rate comparison. To cut your rates now, get a free quote and you will receive prices from some of the most affordable companies around.

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The specific trim level will likely have an effect on the yearly cost, so the cost to insure a Escape XLS 2WD will be $128 less expensive the insurance cost for the fancier Escape Limited 4WD version, as shown in the chart below.

Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Price information does not factor in New Mexico location which can revise prices substantially.

New Mexico insurance company ratings

Choosing the top company can be rather challenging considering how many different companies there are to choose from in New Mexico. The rank data shown below may help you select which coverage providers to look at purchasing from. These ratings only include companies with a national presence, so companies that only write business in New Mexico or surrounding areas are not included in this list.

Top 10 Large Car Insurance Companies in New Mexico Ranked by Customer Satisfaction

1. Titan Insurance – 95%
2. USAA – 94%
3. AAA Insurance – 91%
4. Nationwide – 90%
5. State Farm – 90%
6. The Hartford – 89%
7. GEICO – 89%
8. Allstate – 88%
9. 21st Century – 88%
10. The General – 88%

Top Companies for Ford Escape Insurance in New Mexico

The chart below highlights how deductible selection can affect premium costs when getting quotes for cheap insurance for a Ford Escape. Data assumes a married male driver, full physical damage coverage, and no other discounts are factored in.

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As shown above, a 30-year-old driver could save $248 a year by increasing from a $100 deductible to a $500 deductible, or save $376 by changing to a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, can cut as much as $748 every year just by using higher deductibles. If you do make the decision to raise your deductibles, it will be required to have enough in a savings account to enable you to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Discounts on the cheapest insurance for a Ford Escape in New Mexico

Insurance providers that provide coverage for a Ford Escape could also offer policy discounts that could lower prices by 30% or more if you qualify. Larger insurance companies and some of the premium reductions they offer are:

The diagram below compares insurance costs with and without discounts. The costs are based on a male driver, no claims, a clean driving record, New Mexico state minimum liability limits, full coverage, and $1,000 deductibles.

The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with defensive driving course, vehicle safety, marriage, multiple vehicle, anti-theft, and homeowner discounts applied. When drivers take advantage of discounts, the the average yearly reduction on insurance for a Ford Escape is 16% or $123.

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State Farm, Allstate, Progressive, or Geico: Who is cheapest?

If you are shopping around for insurance for an Escape in New Mexico, four companies to definitely compare rates with are State Farm, Allstate, Progressive, and Geico. Combined they make up about 50% of all auto insurance written. The data below breaks down some of the different features that are available for customers.

Cheap Ford Escape insurance quotes

You have many ways to find lower-cost insurance in New Mexico, but the most common ways are using an independent insurance agent, an exclusive insurance agency such as State Farm or Auto-Owners, or direct online or over the phone from a company like Progressive or Geico. All three ways can provide insurance quotes, but they are slightly different in how they give price quotes.

Independent agencies write for multiple companies and can compare coverage rates with all of them. Independent agents have the option to give you a larger rate selection, which may give you a better overall rate comparison. If your agent finds better pricing, the agent simply finds a different carrier which prevents you from having to find an new insurance agent.

An agent who is captive is usually restricted to a single company, examples being a State Farm or Liberty Mutual agent. This type of agents cannot place coverage with different providers, which will not provide a complete price comparison.

The final way is buying direct, which means you bypass an agent and instead buy from a direct company like Esurance. This insurance option can be good for people who do not have complex finances and have a decent understanding of how insurance works.

Which way works best to find the cheapest insurance for a Ford Escape in New Mexico? It would be premature to say buying from a direct car insurance company results in the cheapest price because you bypass the agent, but unfortunately, it’s not that simple. We could also say that an independent agency guarantees the best prices because they can shop around, but again, it’s not necessarily true. For the right applicant, exclusive agencies have extremely competitive rates that independents and direct companies can’t touch.

Since insurance prices are based on many different factors, the best way to make sure you’re not overpaying for insurance is to get quotes and compare the rates. The best approach is to get price quotes from all three to give yourself enough choices. For a list of insurance companies with low rates, click here to view.