Find Cheaper Ford Escape Insurance in Memphis

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The easiest way to get low-cost car insurance rates is to make a habit of regularly comparing prices from companies in Memphis.

First, spend a few minutes and learn about how insurance companies determine prices and the things you can change to drop your rates. Many factors that are responsible for high rates such as accidents, traffic tickets, and an unacceptable credit rating can be remedied by paying attention to minor details. This article gives the details to help prevent expensive coverage and get additional discounts.

Second, compare prices from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from a single company like GEICO or State Farm, while agents who are independent can provide prices from multiple insurance companies.

Third, compare the new quotes to your existing policy to see if a cheaper price is available in Memphis. If you find better rates, make sure coverage is continuous and does not lapse.

Fourth, notify your current company of your intention to cancel your current coverage and submit a signed application and payment for your new policy. As soon as you can, place the new certificate verifying coverage in your vehicle's glove compartment or console.

A key point to remember is to try to use identical limits and deductibles on every price quote and and to get price quotes from as many different insurance providers as possible. This guarantees a fair price comparison and a complete rate analysis.

Insurance rates Ford Escape in MemphisIt goes without saying that car insurance companies don't want customers comparing rates. Drivers who shop around once a year will presumably switch to a new company because they have a good chance of finding discount prices. A survey found that drivers who make a habit of shopping around saved on average $865 a year compared to those who never shopped for cheaper rates.

If finding the lowest price on car insurance is your objective, then having an understanding of the best ways to find and compare car insurance can save time and money.

If you currently have a car insurance policy, you will surely be able to save money using this strategy. Locating the most cost-effective insurance policy in Memphis can be easy if you know a few tricks. Although Tennessee consumers need to have an understanding of the way insurance companies charge you for coverage and use it to find better rates.

Why Informed Drivers Pay Less for Ford Escape Insurance

Many factors are used in the calculation when quoting car insurance. Most are fairly basic like your driving record, but some are not as apparent such as your credit history or your commute time. An important part of buying insurance is that you know the different types of things that help determine your premiums. When consumers understand what determines base rates, this enables informed choices that could result in lower rates.

  • Gender and insurance - Over the last 50 years, statistics have shown that females take fewer risks when driving. That doesn't necessarily mean that females are better drivers. Females and males cause auto accidents in similar percentages, but the male of the species have costlier accidents. Men also get more serious tickets such as DWI and reckless driving.

    The information below shows the difference between Ford Escape insurance prices for male and female drivers. The data is based on no claims, a clean driving record, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

  • More annual miles equals more premium - Driving more miles in a year's time the more it will cost to insure it. The majority of insurers calculate rates determined by how the vehicle is used. Autos that have low annual miles can be on a lower rate level than cars that get driven a lot. Make sure your car insurance coverage reflects how each vehicle is driven, because it can save money. An incorrectly rated Escape is throwing money out the window.
  • Adjust coverage deductibles and save - Insurance for physical damage to your car, also called 'full coverage', protects your Ford from damage. Some examples of covered claims are a dented fender, vandalism, and rolling your vehicle. The deductibles you choose state the amount of money you are willing to pay before your car insurance pays a claim. The more damage repair cost you are required to pay out-of-pocket, the better rate you will receive.
  • Insurance rates and vehicle performance - The make and model of the car, truck or SUV you drive makes a huge difference in your auto insurance rates. Smaller low performance passenger cars usually have the lowest rates, but other factors influence the final cost greatly.

    The data below is based on a single female driver age 30, full coverage with $250 deductibles, and no discounts or violations. It shows Ford Escape car insurance rates compared to other models that have different performance rating factors.

  • Compare rates if you consolidate your policies - Many insurance companies afford lower prices to clients that buy multiple policies such as combining an auto and homeowners policy. Discounts can add up to five, ten or even twenty percent. If you currently are using one company, it's in your best interest to comparison shop to verify if the discount is saving money.
  • Your address can influence price - Having an address in areas with lower population is a good thing when buying car insurance. Less people means a lower chance of having an accident and lower theft and vandalism rates. People in densely populated areas have to deal with traffic congestion and longer commutes to work. Higher commute times translates into higher accident risk.
  • Ford Escape claim probability - Insurers use data from past claims to help set a rate to offset losses. Models that the data shows to have higher prevalence or dollar amount of losses will have a higher cost to insure. The table shown below demonstrates the historical insurance loss data for Ford Escape vehicles.

    For each policy coverage, the claim amount for all vehicles combined as an average is represented as 100. Values below 100 suggest a better than average loss history, while values that are above 100 indicate more frequent losses or larger claims.

    Car Insurance Loss Data for Ford Escape Models
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Ford Escape 4dr 2WD 80 91 83 94 94 92
    Ford Escape 4dr 4WD 81 84 94 85 90 77
    BETTER
    AVERAGE
    WORSE

    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Auto insurance data for a Ford Escape

The rate table shown next outlines detailed analysis of policy rates for Ford Escape models. Having insight into how insurance premiums are determined can help guide drivers when making informed decisions when comparing rate quotes.

Ford Escape Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Escape XLS 2WD $168 $318 $278 $16 $84 $864 $72
Escape XLS 4WD $168 $318 $278 $16 $84 $864 $72
Escape XLT 2WD $168 $318 $278 $16 $84 $864 $72
Escape Limited 2WD $192 $318 $278 $16 $84 $888 $74
Escape XLT 4WD $192 $318 $278 $16 $84 $888 $74
Escape Limited 4WD $192 $388 $278 $16 $84 $958 $80
Get Your Own Custom Quote Go

Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Information does not factor in Memphis location which can change rates noticeably.

Choosing deductibles

One of the more difficult decisions when buying auto insurance is which deductible level should you buy. The tables below illustrate the price difference when you choose different physical damage deductibles. The first set of rates uses a $100 deductible for physical damage and the second rate table uses a $1,000 deductible.

Ford Escape insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Escape XLS 2WD $216 $368 $246 $14 $74 $943 $79
Escape XLS 4WD $216 $368 $246 $14 $74 $943 $79
Escape XLT 2WD $216 $368 $246 $14 $74 $943 $79
Escape Limited 2WD $248 $368 $246 $14 $74 $975 $81
Escape XLT 4WD $248 $368 $246 $14 $74 $975 $81
Escape Limited 4WD $248 $448 $246 $14 $74 $1,055 $88
Get Your Own Custom Quote Go
Ford Escape insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Escape XLS 2WD $120 $194 $246 $14 $74 $648 $54
Escape XLS 4WD $120 $194 $246 $14 $74 $648 $54
Escape XLT 2WD $120 $194 $246 $14 $74 $648 $54
Escape Limited 2WD $138 $194 $246 $14 $74 $666 $56
Escape XLT 4WD $138 $194 $246 $14 $74 $666 $56
Escape Limited 4WD $138 $236 $246 $14 $74 $708 $59
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Information does not factor in Memphis location which can revise prices noticeably.

Based on the above data, using a $100 deductible will cost you about $25 more each month or $300 each year averaged for all Escape models than choosing the higher $1,000 deductible. Because you would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally go at a minimum 36 months between claim filings, you would probably save some money going with the higher deductible. Below is an example of how you can decide this on your own policy.

Average monthly premium for $100 deductibles: $81
Average monthly premium for $1,000 deductibles (subtract): - $56
Monthly savings from raising deductible: $25
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $25
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 36 months

One thing to be aware of is that a higher deductible results in having to pay to pay more out-of-pocket when you have a claim. You need to make sure you have enough disposable savings in order to pay more to get your vehicle repaired.

The information below demonstrates how deductible levels and can impact Ford Escape annual premium costs for different age categories. The premiums are based on a single female driver, comp and collision included, and no discounts are factored in.

Impact of careless driving on Memphis auto insurance rates

The example below demonstrates how traffic citations and at-fault claims influence Ford Escape auto insurance costs for each different age group. The premiums assume a married female driver, comp and collision included, $100 deductibles, and no discounts are applied.

Should you buy full coverage?

The example below visualizes the comparison of Ford Escape insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The premiums assume no violations or accidents, $250 deductibles, single status, and no discounts are taken into consideration.

When to stop paying for full coverage

There is no specific rule for phasing out full coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than around 10% of the vehicle's replacement cost less your deductible, the it may be a good time to stop paying for full coverage.

For example, let's pretend your Ford Escape settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $4,000 after paying the physical damage deductible. If premiums are more than $400 annually for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some cases where removing full coverage is not financially feasible. If you still owe money on your vehicle, you have to maintain full coverage to protect the lienholder's interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not remove full coverage.

Lower-cost Memphis car insurance rates with discounts

Insuring your fleet can be pricey, but there may be some discounts to cut the cost considerably. Some discounts apply automatically at quote time, but occasionally some discounts must be manually applied prior to receiving the credit.Discount car insurance

  • Pay Upfront and Save - By paying your policy upfront rather than spreading payments over time you can avoid monthly service charges.
  • Good Grades Discount - Maintaining excellent grades can earn a discount of 20% or more. This discount can apply well after school through age 25.
  • Senior Citizen Rates - Drivers that qualify as senior citizens may receive reduced rates.
  • Include Life Insurance and Save - Not all insurance companies offer life insurance, but some may give you better rates if you take out some life insurance in addition to your auto policy.
  • Safety Course Discount - Completing a safe driver course could possibly earn you a 5% discount and easily pay for the cost of the class.
  • Waiver for an Accident - Not necessarily a discount, but companies like Progressive and Allstate permit an accident without getting socked with a rate hike if your claims history is clear for a specific time period.
  • Own a Home - Just owning your own home may trigger a policy discount on car insurance since home ownership is proof of financial responsibility.
  • Theft Prevention System - Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems are stolen with less frequency and will qualify for a discount on a Memphis auto insurance quote.

Don't be shocked that most of the big mark downs will not be given to the whole policy. Most cut individual premiums such as liability and collision coverage. So even though they make it sound like having all the discounts means you get insurance for free, insurance companies wouldn't stay in business. But any discount will lower the cost of your policy.

The diagram below compares Ford Escape insurance costs with and without discounts applied to the rates. The premiums are based on a female driver, a clean driving record, no claims, Tennessee state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, multi-car, claim-free, marriage, and safe-driver discounts applied.

Companies and their possible discounts can be read below.

  • GEICO may offer discounts for seat belt use, air bags, daytime running lights, driver training, anti-theft, and multi-vehicle.
  • USAA policyholders can earn discounts including military installation, multi-vehicle, safe driver, family discount, defensive driver, driver training, and new vehicle.
  • Progressive discounts include online signing, multi-policy, online quote discount, homeowner, continuous coverage, and good student.
  • American Family includes discounts for good student, defensive driver, air bags, TimeAway discount, and early bird.
  • Esurance may include discounts for emergency road assistance, renters, homeowner, defensive driver, claim free, and Pac-12 alumni.
  • Farmers Insurance has savings for multi-car, early shopping, good student, pay in full, youthful driver, and homeowner.
  • State Farm offers discounts including defensive driving training, Steer Clear safe driver discount, multiple policy, student away at school, good student, anti-theft, and multiple autos.

If you want affordable Ford Escape insurance quotes, ask all the companies how many discounts you can get. Some of the discounts discussed earlier may not apply to policies in Memphis. If you would like to view companies who offer car insurance discounts in Tennessee, click here.

Cover all your bases

When getting Memphis auto insurance quotes online, don't be tempted to buy poor coverage just to save money. There have been many cases where someone sacrificed liability limits or collision coverage only to find out that it was a big error on their part. Your goal should be to buy enough coverage for the lowest cost, but do not skimp to save money.

You just read a lot of ways to find lower-cost Ford Escape insurance in Memphis. It's most important to understand that the more rate quotes you have, the better your chances of lowering your rates. You may even find the lowest prices come from some of the smallest insurance companies. Some small companies may often insure only within specific states and give better rates than their larger competitors like Progressive or GEICO.

Even more information is located at these sites: