Cheap Ford Explorer Insurance in Memphis

If you want to find the absolute lowest rates, then the best way to find affordable Ford Explorer insurance in Memphis is to regularly compare price quotes from different companies that sell auto insurance in Tennessee.

The key aspect of shopping around is that you’ll want to make sure you compare the same coverage limits and deductibles on each quote request and to quote with as many car insurance companies as possible. This enables a level playing field and a thorough price selection.

Insurance quote for Ford Explorer in MemphisIt’s well known that insurance companies don’t want you to look at other companies. Insureds who shop around for the cheapest rate will presumably buy a different policy because there is a good chance of finding a lower-priced company. A survey found that people who regularly shopped around saved approximately $860 a year compared to policyholders who never shopped around for cheaper prices.

If finding the lowest price for auto insurance is the reason you’re reading this, then having some knowledge of how to find and compare coverage rates can save time, money, and frustration.

There are several ways to get quotes from lots of Tennessee insurance companies. The easiest way to compare Ford Explorer insurance prices is to jump online and get quotes. When comparison shopping, comparing more prices will improve the odds of getting a lower rate than you’re paying now. Some insurance companies are not set up to provide rate quotes online, so it’s recommended that you also compare prices from those companies as well.

The following companies are our best choices to provide free rate quotes in Tennessee. If your goal is to find cheaper auto insurance in Memphis, it’s a good idea that you get rates from several of them to get the best price comparison.

Why you need insurance for your Explorer

Despite the high insurance cost for a Ford Explorer in Memphis, insuring your vehicle serves a purpose in several ways.

The benefits of insuring your Explorer more than cancel out the cost, particularly for liability claims. Despite what companies tell you, the average driver overpays as much as $825 a year so shop around every year to ensure rates are competitive.

Analysis of Ford Explorer rates

The rate information displayed below highlights estimates of coverage prices for Ford Explorer models. Understanding how policy premiums are formulated can assist in making decisions on which coverage to buy.

Ford Explorer Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Explorer XLT 2WD $108 $166 $278 $16 $82 $650 $54
Explorer Eddie Bauer 2WD $108 $166 $278 $16 $82 $650 $54
Explorer XLT 4WD $108 $166 $278 $16 $82 $650 $54
Explorer XLT AWD $108 $166 $278 $16 $82 $650 $54
Explorer Eddie Bauer 4WD $122 $202 $278 $16 $82 $700 $58
Explorer Eddie Bauer AWD $122 $202 $278 $16 $82 $700 $58
Explorer Limited 2WD $122 $202 $278 $16 $82 $700 $58
Explorer Limited 4WD $122 $202 $278 $16 $82 $700 $58
Explorer Limited AWD $122 $202 $278 $16 $82 $700 $58
Get Your Own Custom Quote Go

Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Table data does not factor in Memphis location which can revise insurance rates noticeably.

Analysis of deductible levels

One of the more difficult decisions when buying auto insurance is what deductibles to buy. The tables below approximate the difference in cost between high and low coverage deductibles. The first rate quote example uses a $250 deductible for comp and collision and the second price table uses a $500 deductible.

Ford Explorer insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Explorer XLT 2WD $224 $310 $288 $18 $86 $951 $79
Explorer Eddie Bauer 2WD $224 $310 $288 $18 $86 $951 $79
Explorer XLT 4WD $224 $310 $288 $18 $86 $951 $79
Explorer XLT AWD $224 $310 $288 $18 $86 $951 $79
Explorer Eddie Bauer 4WD $252 $376 $288 $18 $86 $1,045 $87
Explorer Eddie Bauer AWD $252 $376 $288 $18 $86 $1,045 $87
Explorer Limited 2WD $252 $376 $288 $18 $86 $1,045 $87
Explorer Limited 4WD $252 $376 $288 $18 $86 $1,045 $87
Explorer Limited AWD $252 $376 $288 $18 $86 $1,045 $87
Get Your Own Custom Quote Go

Ford Explorer insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Explorer XLT 2WD $182 $250 $288 $18 $86 $824 $69
Explorer Eddie Bauer 2WD $182 $250 $288 $18 $86 $824 $69
Explorer XLT 4WD $182 $250 $288 $18 $86 $824 $69
Explorer XLT AWD $182 $250 $288 $18 $86 $824 $69
Explorer Eddie Bauer 4WD $204 $304 $288 $18 $86 $900 $75
Explorer Eddie Bauer AWD $204 $304 $288 $18 $86 $900 $75
Explorer Limited 2WD $204 $304 $288 $18 $86 $900 $75
Explorer Limited 4WD $204 $304 $288 $18 $86 $900 $75
Explorer Limited AWD $204 $304 $288 $18 $86 $900 $75
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Table data does not factor in specific location which can influence premiums noticeably.

Using the premium rates above, we can conclude that using a $250 deductible costs approximately $11 more each month or $132 every year across all Ford Explorer models than choosing the higher $500 deductible. Since you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you average at least 23 months between claims, you would probably be better off if you opt for a higher deductible.

The chart below demonstrates how deductible levels and can affect Ford Explorer premium costs for different age groups. The information is based on a single female driver, full coverage, and no policy discounts are applied.

Auto insurance rates are higher with tickets and accidents

The illustration below illustrates how traffic citations and accident claims can impact Ford Explorer premium costs for different age groups. The prices are based on a married male driver, comp and collision included, $250 deductibles, and no policy discounts are applied.

Full coverage versus liability-only in Memphis

The chart below shows the difference between Ford Explorer car insurance costs with and without physical damage coverage. The data is based on no accidents, no driving violations, $100 deductibles, drivers are single, and no additional discounts are factored in.

Guidelines for eliminating full coverage

There is no exact rule of when to phase out full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.

For example, let’s say your Ford Explorer claim settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $7,000 after the deductible is paid. If you are currently paying more than $700 a year for full coverage, then it might be time to buy liability only.

There are some situations where only buying liability is not in your best interest. If you haven’t paid off your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Do you qualify for discounts?

Not too many consumers would say car insurance is affordable, but there may be some discounts that may help make it more affordable. Larger premium reductions will be automatically applied at the time of quoting, but a few need to be asked about in order for you to get them.Discount car insurance

A little note about advertised discounts, most credits do not apply to the overall cost of the policy. Some only apply to individual premiums such as physical damage coverage or medical payments. So when the math indicates you would end up receiving a 100% discount, you aren’t that lucky.

The example below compares Ford Explorer auto insurance rates with and without discounts applied to the premium. The data assumes a male driver, no tickets, no at-fault accidents, Tennessee state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, multi-policy, homeowner, marriage, and safe-driver discounts applied.

Large car insurance companies and a summarized list of policyholder discounts are outlined below.

When quoting, ask all the companies how you can save money. Savings might not be offered on policies in your state. To see a list of insurance companies that offer the discounts shown above in Tennessee, click here to view.

Auto insurance agents can help

Many drivers still prefer to buy from a local agent and doing that can be a smart decision The biggest benefit of comparing rate quotes online is that you can obtain the lowest rates and still buy from a local agent. Putting coverage with local agents is especially important in Memphis.

Memphis insurance agentsAfter completing this short form, your insurance data is emailed to local insurance agents in Memphis who want to provide quotes to get your business. You don’t have to search for any insurance agencies because prices are sent to the email address you provide. You can find lower rates and a licensed agent to work with. If you wish to quote rates from a particular provider, you can always find their quoting web page and fill out their quote form.

If you need to find a local insurance agency, there are a couple of different types of agents that you can choose from. Insurance agents can be described as either independent or exclusive.

Independent Agents (or Brokers)

Independent insurance agents often have affiliation with several companies so as a result can place your coverage through lots of different companies and find the cheapest insurance rates. If they quote lower rates, they simply switch companies in-house which makes it simple for you. When comparing insurance rates, you definitely need to include at least one independent agent to get the best comparison. Most also write with additional companies that you may not be familiar with that many times have cheaper rates.

Featured below are Memphis independent insurance agencies that can possibly get you comparison quotes.

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Exclusive Insurance Agencies

Exclusive agencies can usually just insure with one company and examples are Farmers Insurance, State Farm, or Allstate. Exclusive agents are unable to provide rate quotes from other companies so it’s a take it or leave it situation. Exclusive agents receive a lot of sales training on their company’s products and that allows them to sell at a higher price point. Some insured continue to use the same exclusive agent mainly due to high brand loyalty and strong financial ratings.

The following are Memphis exclusive insurance agencies that are able to give rate quotes.

More insurance agents

Finding a good insurance agent is decision based upon more than just the bottom line cost. The answers to these questions are important, too.

Which policy gives me the best coverage?

When it comes to buying coverage online or from an agent, there is no “best” method to buy coverage. Each situation is unique and your policy should reflect that.Safe vehicles cost less to insure
For example, these questions can help discover whether your personal situation could use an agent’s help.

If you’re not sure about those questions, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.

Persistent drivers can save

Discount Ford Explorer insurance in Memphis is definitely available both online and from local insurance agents, so get free Memphis car insurance quotes from both of them to have the best rate selection. A few companies may not have the ability to get a quote online and most of the time these regional carriers only sell coverage through independent insurance agencies.

When trying to cut insurance costs, never buy poor coverage just to save money. There are a lot of situations where an accident victim reduced collision coverage to discover at claim time they didn’t have enough coverage. Your strategy should be to purchase plenty of coverage at the best cost, but do not skimp to save money.

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