Socorro, NM Auto Insurance Rates, Quotes, Agents & Reviews
Zimlon, through its research, found that car owners in Socorro, NM, can avail multiple discounts on car insurance by taking various factors into consideration. These factors are explored in detail by Zimlon in the analysis below.
Cheapest Car Insurance in Socorro, NM
In Socorro, New Mexico, auto insurance is an important part of life for many people. With the state’s mountainous terrain and busy highways, having the right auto insurance is essential for anyone who drives in Socorro. Auto insurance is required by law in the state of New Mexico. In Socorro, auto insurance will typically cover damages caused by accidents, theft, fire, and other incidents. Coverage can include medical expenses, rental car reimbursement, and roadside assistance.
The average cost of car insurance in Socorro, NM, is $1,329. When looking for auto insurance in Socorro, finding a reliable provider with a good reputation is essential. Many auto insurance companies offer discounts for people who have taken defensive driving courses, have a good driving record, and are members of certain organizations. It’s also important to shop around and compare quotes from multiple companies to find the best rate. By reading this article, you can get the best Socorro, New Mexico, auto insurance plan for your needs and budget.
Auto Insurance Rates Based on the Age of the Driver
Insurance companies use age as a determining factor to decide how much of a risk a driver poses when it comes to filing a claim. Young drivers are often considered riskier than older drivers, resulting in higher premiums. Generally, younger drivers are more likely to be involved in an accident than older drivers. This is due to their lack of experience, which can lead to risky driving behaviours. Insurance companies will often charge higher premiums for young drivers because of this risk. For instance, teenagers in Socorro, New Mexico, pay $4213 for car insurance, while drivers over the age of 40 pay $1265.
Auto Insurance Rates Post-DUI
It is important to understand that a DUI conviction will likely significantly increase your auto insurance premiums. In Socorro, DUI convictions are treated seriously, and the penalties can be harsh. A person may face jail time, fines, license suspension, and other penalties for a first-time offence. All of these consequences can have a negative impact on your lifestyle and finances, including your auto insurance rates. In New Mexico, drivers convicted of a DUI can expect to pay significantly more for their auto insurance. Insurance companies calculate rates based on numerous factors, including driving record, age, gender, etc. A DUI conviction will make you a high-risk driver, so your rates will be much higher. Auto insurance in Socorro, New Mexico, typically costs $1,329. Following a DUI, the rate goes up to $2,093.
Auto Insurance Rates Based on Credit History
Insurers use credit scores to determine the risk associated with insuring someone. Generally, people with higher credit scores are seen as less of a risk than those with lower credit scores. As a result, they are typically offered lower premiums. On the other hand, people with lower credit scores are seen as higher risk and are typically offered higher premiums. For instance, in Socorro, New Mexico, drivers with exceptional credit scores pay $1140 for auto insurance, whilst those with poor credit must spend $2,168 for the same coverage.
Factors that can influence the cost of car insurance in Socorro, NM are listed below. It is imperative to understand these factors in order to reduce the cost of car insurance. It is also essential to strike a balance between the cost of insurance and the coverage requirements.
- Socorro, NM Auto Insurance Rates
- Socorro, NM Auto Insurance for Different Deductible
- How the Age of Driver Affects Insurance Rates in Socorro, NM
- Multi Vehicle Insurance Savings in Socorro, NM
- How Credit Score Affects Car Insurance Rates in Socorro, NM
- How DUI Affects Auto Insurance Premiums in Socorro, NM
- Top Auto Insurance Agents Near Socorro, NM
- How Driving Violations Affect Auto Insurance Rates in Socorro, NM
- Socorro, NM Auto Insurance Discounts on Anti Theft Feature
Socorro, NM Auto Insurance Rate Comparisons with Neighboring Locations | Back to Top
The following table compares the cost of insurance in Socorro, NM with that of other cities in and around Socorro.
| Socorro | Socorro County | Escondida | Polvadera | Lemitar | San Antonio | |
|---|---|---|---|---|---|---|
| Average Insurance Rates | $1,329 | $1,323 | $1,995 | $2,018 | $1,367 | $2,016 |
Socorro, NM Auto Insurance Rates vary Based on Deductibles in Neighboring Cities | Back to Top
The following table makes a comparison of the variation in car insurance rates in and around Socorro, NM based on the change in deductibles. A higher deductible leads to a decrease in the cost of car insurance.
| Location | Low Deductible ($500) | High Deductible ($1000) |
|---|---|---|
| Socorro | $1,646 | $1,390 |
| Luis Lopez | $2,718 | $2,296 |
| San Antonio | $2,076 | $1,754 |
| Socorro County | $1,272 | $1,074 |
| Escondida | $2,055 | $1,736 |
| Lemitar | $2,870 | $2,424 |
| Polvadera | $1,386 | $1,171 |
| Chamizal | $2,055 | $1,736 |
Socorro, NM Auto Insurance Rates Based on the Age of the Driver | Back to Top
Teenagers in Socorro, NM usually pay a much higher car insurance rate compared to the rest of the state as they are generally considered to be less responsible behind the wheel. Middle-aged drivers are likely to pay lower car insurance premiums if they are considered to be safer drivers by insurance companies.
| Age of Driver | Insurance Cost |
|---|---|
| Teens | $4,312 |
| 20 Years | $1,708 |
| 30 Years | $1,315 |
| 40 Years | $1,265 |
| 50 Years | $1,172 |
| 60 Years | $1,188 |
| 70 Years | $1,383 |
Socorro, NM Car Insurance Discounts for Multi-Car Insurance | Back to Top
Car owners in Socorro, NM can obtain discounts if they insure multiple vehicles with the same insurer. The average savings one can obtain are as follows:
| Number of Cars | Auto Insurance Cost | Total Savings |
|---|---|---|
| 2 Vehicles | $2,312 | $346 |
| 3 Vehicles | $3,469 | $518 |
| 4 Vehicles | $4,625 | $691 |
Savings on 2 Vehicles bundle:$346
Savings on 3 Vehicles bundle:$518
Savings on 4 Vehicles bundle:$691
Socorro, NM Post- DUI Auto Insurance Rates | Back to Top
Driving Under Influence (DUI) can be an added burden on your wallet. The cost of auto insurance will go up post-DUI. The below graph does a comparison of auto insurance rates before and after DUI in and around Socorro, NM.
| Location | Average Insurance Cost | Post DUI Insurance Rate |
|---|---|---|
| Socorro | $1,329 | $2,093 |
| Luis Lopez | $1,457 | $2,294 |
| San Antonio | $2,016 | $3,174 |
| Socorro County | $1,323 | $2,083 |
| Escondida | $1,995 | $3,141 |
| Lemitar | $1,367 | $2,152 |
| Polvadera | $2,018 | $3,177 |
| Chamizal | $1,995 | $3,141 |
Socorro, NM Auto Insurance Rates Based on Credit Score | Back to Top
Car insurance companies can use the Credit Score of car drivers to determine car insurance rates. Car drivers with good credit can avail of substantial discounts on car insurance rates.
| Credit Score | Insurance Cost |
|---|---|
| Exceptional (800-850) | $1,140 |
| Excellent (740-799) | $1,302 |
| Good (670-739) | $1,385 |
| Average (580-669) | $1,807 |
| Poor (300-579) | $2,168 |
Socorro, NM Auto Insurance Agents | Back to Top
Car owners can obtain quotes from multiple auto insurance companies. Comparing different quotes can help identify the cheapest auto insurance provider best suited for their coverage needs.
| Agent Name | Company | Agent Address | Contact Details |
|---|---|---|---|
| Damien Ocampo | State Farm | 1004 N California St Ste B, Socorro, 87801-4273 | 575-835-0001 |
| Michael Olguin Insurance Associates Llc | Travelers | 315 N CALIFORNIA ST, SOCORRO, 87801 | 575-835-1331 |
| Blue Star Insurance | Travelers | 424 Becker Ave, Belen, 87002 | (505) 861-0002 |
| Luccas Greene | State Farm | 614 Becker Ave, Belen, 87002-3634 | 505-864-7474 |
| Charles Van Gombos | Allstate | 329 E Reinken Ave, Belen, 87002 | (505) 864-1291 |
| Clara Reyes | Farmers | 101 1/2 Eaton Ave, Socorro, 87801 | (575) 835-0966 |
| La Shanna Reese | Farmers | 415 W Reinken Ave, Belen, 87002 | (505) 861-0100 |
| Panagopoulos Insurance Agency | None | 511 W Reinken Ave, Belen, 87002 | None |
Socorro, NM Auto Insurance Rates can Increase Based on Driving Violations | Back to Top
Auto insurance rates tend to increase depending on the type and number of driving violations. The driving violations can stay on the record for a considerable amount of time leading to higher auto insurance rates. The severity of the driving violation and place of residence will determine how long the violation stays on record.
| Driving Violation | Cost Increase | Total Insurance Cost |
|---|---|---|
| Driving Without Headlights | +$58 | $1,387 |
| Driver's Failure In Showing Documents | +$129 | $1,458 |
| Driving With An Expired Registration | +$137 | $1,466 |
| Driving At A Considerably Slow Pace | +$288 | $1,617 |
| Using A Cellphone While Driving | +$304 | $1,633 |
| Running A Red Light | +$310 | $1,639 |
| Speeding | +$326 | $1,655 |
| Driving A Vehicle Without The Required Permission | +$413 | $1,742 |
| Driving With An Expired/Suspended License | +$896 | $2,225 |
Socorro, NM Auto Insurance Rates Based on Anti-Theft Feature | Back to Top
Cars that are equipped with safety devices are less prone to thefts. As a result, auto insurance companies provide a considerable amount of discounts to vigilant car owners. The discounts vary depending on the type and number of safety devices installed.
| Anti Theft Feature | Insurance Cost |
|---|---|
| Audible Alarm | $1,276 |
| Active Disabling Device | $1,276 |
| Tracking Device | $1,249 |
| Passive Disabling Device | $1,236 |