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Auto insurance can be a bit confusing when you’re new to driving, causing you to make costly mistakes when purchasing a policy. At Franklin Insurance Agency, we can help you make wise auto insurance choices that can save you money. Here are some of the most common mistakes new drivers make when purchasing auto insurance in Albuquerque or Rio Rancho, NM.
Choosing the Cheapest Policy
Auto insurance costs vary depending on your insurer and the coverage you want. The cheapest policy is not always the best as it may provide insufficient coverage. This puts you at risk of paying for accident damages out of pocket. By shopping around, you can find adequate coverage at reasonable costs.
Not Getting Required Coverage
Auto liability coverage is required in New Mexico, to pay for damages or injuries to others in accidents you cause. If you fail to obtain this coverage, you are breaking the law. Without liability coverage, you also risk being sued for other people’s damages due to accidents you cause.
Getting Insufficient Coverage
Auto insurance should protect you, others, and your vehicle in the event of an accident. If you compromise your coverage to reduce your insurance costs, you risk having to pay for your repair costs out of pocket.
Not Taking Advantage of Discounts
Most insurers offer discounts that can lower insurance costs. Before purchasing coverage, ask your insurer what discounts they offer. If you’re a safe driver, have certain safety features on your car, bundle your auto and home insurance together, or don’t drive very often, you may qualify for reduced premium costs.
Paying Too Much for Coverage
Comparison shopping online gives you a good idea of what auto insurance costs in Rio Rancho, NM. This can save you from paying too much for your coverage.
For quality auto insurance at affordable costs, contact Franklin Insurance Agency today.