Do Car Theft Incidences in My Neighborhood Affect Car Insurance Rate in New Mexico
Reader’s Question:
Hi. My neighborhood in Albuquerque, New Mexico reported three car theft incidences in the last two months. Will this affect my auto insurance premium?
Morgan
Albuquerque, NM
Well, Morgan, two months is still early to tell if your area is hotspot for crimes. As you might have guessed, an area with a high crime rate may warrant your car insurance provider to increase your premiums. It is one of the factors that have heavy weighting. More stolen cars mean more money that they have to shell out.
However, three incidents is still relatively low. Maybe, if it stops at three, then I think you don’t need to be worried. I’m sure your neighbors are now more vigilant and police are on the tail of those perpetrators. But if this goes on, then the auto insurance providers will have reason to increase your car insurance premium, as they will know that security of the automobiles that they are insuring is questionable. In order to prevent your car from being stolen, it would help to install anti-theft devices, making it hard, if not impossible, for criminals to steal your car. Anti-theft devices lower car insurance premiums. With this vigilance, your insurers just might take this into consideration and factor out the risk of high incidence of theft in your area.
