Ford Transit Connect Insurance Rates in Memphis

How many years has it been since you compared more competitive Ford Transit Connect insurance in Memphis? Feeling guilty for buying an expensive insurance policy? Don’t feel bad because you’re not the only one.

Insurance for Ford Transit ConnectIt’s an obvious conclusion that auto insurance companies want to keep you from comparing prices. Drivers who shop around at least once a year are inclined to buy a different policy because of the good chance of finding a lower-priced company. A recent survey discovered that drivers who compared prices regularly saved approximately $3,450 over four years compared to other drivers who never compared other company’s rates.

If finding the most affordable Ford Transit Connect insurance in Memphis is your ultimate target, then learning about how to get price quotes and compare insurance can save time and money.

Steps to buying cheaper Ford Transit Connect insurance in Memphis

The best way to find low-cost auto insurance rates is to regularly compare prices from insurance carriers in Memphis.

  1. Learn about how insurance companies determine prices and the factors you can control to prevent expensive coverage. Many risk factors that result in higher rates like high-risk driving behaviors and an imperfect credit history can be remedied by making small lifestyle or driving habit changes. Later in this article we will cover additional ideas to find cheap prices and find overlooked discounts.
  2. Quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while independent agents can provide prices for a wide range of companies.
  3. Compare the new rates to the premium of your current policy and determine if cheaper Transit Connect coverage is available in Memphis. If you find a better price and decide to switch, make sure coverage does not lapse between policies.

An essential thing to point out is to try to compare similar coverage information on each quote and and to look at as many companies as possible. Doing this enables an apples-to-apples comparison and a complete price analysis.

Popular companies such as Allstate, Liberty Mutual and State Farm increase brand awareness with TV and radio ads and it is difficult to ignore the propaganda and effectively compare rates to find the best deal.

It’s a good habit to price shop coverage before your next renewal because prices change quite often. Even if you think you had the lowest price on Ford Transit Connect insurance in Memphis last year you can probably find a lower rate today. You can find a lot of information about Transit Connect insurance out there, but in this article, you’re going to get some great ways to buy insurance cheaper in Memphis.

If you are already insured or just want to reduce your rates, use these techniques to get lower rates without sacrificing coverage. Locating the best rates in Memphis is actually very simple if you learn how to start. Consumers just need to use the tricks to buy auto insurance from multiple carriers.

Shop Ford Transit Connect insurance online

The companies shown below have been selected to offer free rate quotes in Memphis, TN. To locate the best auto insurance in Tennessee, we suggest you click on several of them to get the most affordable price.

Lower rate quotes on Ford Transit Connect insurance in Memphis with these discounts

Companies don’t necessarily list their entire list of discounts very well, so below is a list some of the best known as well as the least known car insurance savings. If they aren’t giving you every credit you qualify for, you’re just leaving money on the table.Car insurance discounts

A little note about advertised discounts, most discounts do not apply to the overall cost of the policy. Some only apply to specific coverage prices like medical payments or collision. So even though you would think it’s possible to get free car insurance, it doesn’t quite work that way.

The information below compares Ford Transit Connect yearly insurance costs with and without discounts applied. The rates are based on a male driver, no accidents or driving violations, Tennessee state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, safe-driver, marriage, multi-car, and homeowner discounts applied.

Some companies who might offer many of the previously listed discounts include:

If you need lower rates, check with every company which discounts can lower your rates. Some credits might not apply in Memphis.

Analysis of coverages

The coverage table displayed below showcases a range of insurance prices for Ford Transit Connect models. Understanding more about how premiums are determined helps drivers make decisions on the best policy to buy.

Ford Transit Connect Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Transit Connect XL 2WD $120 $236 $288 $18 $86 $748 $62
Transit Connect XLT 2WD $120 $236 $288 $18 $86 $748 $62
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Rate information does not factor in Memphis location which can alter premium rates substantially.

Where to set your deductibles

A question often asked by Memphis drivers is how high should the physical damage coverage deductibles be. The following insurance rates can help you understand the differences in premium rates between high and low physical damage coverage deductibles. The first data table uses a $250 deductible and the second price chart uses a $1,000 deductible.

Ford Transit Connect insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Transit Connect XL 2WD $194 $376 $288 $18 $86 $987 $82
Transit Connect XLT 2WD $194 $376 $288 $18 $86 $987 $82
Get Your Own Custom Quote Go

Ford Transit Connect insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Transit Connect XL 2WD $120 $236 $288 $18 $86 $748 $62
Transit Connect XLT 2WD $120 $236 $288 $18 $86 $748 $62
Get Your Own Custom Quote Go

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

Based on the figures above, using a $250 deductible will cost in the ballpark of $20 more each month or $240 a year averaged for all Transit Connect models than buying the higher $1,000 deductible. Since you would pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to have at least 38 months between claims, you would probably come out ahead if you choose a higher deductible.

How to decide to raise your deductibles

Average monthly premium for $250 deductibles: $82
Average monthly premium for $1,000 deductibles (subtract): – $62
Monthly savings from raising deductible: $20
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $20
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 38 months

An important sidenote is that higher deductibles means you pay more out-of-pocket when you have a physical damage claim. You need to have some funds available in the event you need to pay the deductible.

Auto insurance premiums by gender

The chart below illustrates the comparison of Ford Transit Connect insurance costs for male and female drivers. Data assumes a clean driving record, no at-fault accidents, full physical damage coverage, $250 deductibles, drivers are single, and no additional discounts are factored in.

Should you buy full coverage?

The diagram below visualizes the comparison of Ford Transit Connect annual premium costs with full coverage and liability only. The data assumes a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no additional discounts are factored in.

When to eliminate full coverage

There is no clear-cut rule to stop buying physical damage coverage, but there is a general guideline you can use. If the annual cost of coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your Ford Transit Connect book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $8,000 after paying your policy deductible. If it’s costing you more than $800 a year for your policy with full coverage, then you might want to think about dropping full coverage.

There are some conditions where buying only liability insurance is not a good plan. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage on your policy.

Local agents and insurance

Certain consumers still prefer to go talk to an agent and doing so can bring peace of mind Agents are trained to spot inefficiencies and give you someone to call. One of the great benefits of comparing rate quotes online is that you can find cheap insurance rates and still choose a local agent. Buying insurance from local insurance agents is important particularly in Memphis.

Insurance agency in MemphisTo help locate an agent, after submitting this form (opens in new window), your insurance data is emailed to local insurance agents in Memphis who will return price quotes for your coverage. It’s much easier because you don’t need to search for an agent as quotes are delivered directly to your email. If you want to get a rate quote from one company in particular, you would need to visit that company’s website and give them your coverage information.

Best auto insurance agent in Memphis

If you are searching for a reputable agency, you should know the different agency structures and how they function. Agents in Memphis can be described as either exclusive or independent (non-exclusive). Both types can insure your vehicles properly, but it’s worth mentioning the difference between them since it can impact which type of agent you select.

Independent Agents

Independent agents are not restricted to one company and that allows them to write policies with a variety of different insurance companies and potentially find a lower price. If they quote lower rates, the agent simply finds a different carrier which is easy for the insured. If you need cheaper insurance rates, we recommend you check rates from a couple of independent agencies so that you have a good selection of quotes to compare.

Listed below are independent agencies in Memphis that can possibly get you rate quotes.

1568 Union AveMemphis, TN 38104(901) 274-5424View Map

4608 Quince RdMemphis, TN 38117(901) 685-3008View Map

3232 S Perkins RdMemphis, TN 38118(901) 797-8665View Map

More Memphis agents

Exclusive Agencies

Agents of this type are contracted to one company and examples are State Farm, Allstate, and Farm Bureau. Exclusive agents are unable to shop your coverage around so always compare other rates. They are well schooled on the products they sell which helps them sell insurance even at higher premiums.

Shown below are exclusive insurance agencies in Memphis that can give you price quote information.

Henry Hooper II – State Farm Insurance Agent
348 S Main StMemphis, TN 38103(901) 575-0001View Map

579 S Perkins RdMemphis, TN 38117(901) 683-8600View Map

1440 E Shelby Dr Ste 2Memphis, TN 38116(901) 767-0030View Map

More Memphis agents

Picking an auto insurance agent needs to be determined by more than just the price. These are some questions your agent should answer.

Do I need special coverages?

When choosing the best car insurance coverage for your vehicles, there really is not a one size fits all plan. Every situation is different so your insurance should reflect thatCar insurance savings
Here are some questions about coverages that might help in determining whether you might need professional guidance.

If it’s difficult to answer those questions then you might want to talk to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies. It is quick, free and can provide invaluable advice.

Lower Your Memphis Insurance Prices

A large part of saving on car insurance is knowing the rating factors that aid in calculating the level of your policy premiums. When you know what positively or negatively impacts premium levels, this allows you to make educated decisions that can help you get big savings.

Insurance is not optional in Tennessee

Despite the high cost of buying insurance for a Ford Transit Connect in Memphis, insurance is mandatory in Tennessee but it also protects more than you think.

The benefits of insuring your car outweigh the cost, particularly for liability claims. According to a recent study, the average American driver overpays as much as $800 each year so compare rates at every renewal to help ensure money is not being wasted.

In Summary

You just learned quite a bit of information on how to save on Ford Transit Connect insurance in Memphis. The most important thing to understand is the more providers you compare, the better likelihood of getting affordable Ford Transit Connect insurance quotes. Consumers may even find the best price on car insurance is with some of the smallest insurance companies. They can often insure niche markets at a lower cost as compared to the big name companies such as Allstate and Progressive.

As you restructure your insurance plan, you should never buy less coverage just to save a little money. There are too many instances where an accident victim reduced physical damage coverage only to regret that the few dollars in savings costed them thousands. Your goal is to buy a smart amount of coverage at a price you can afford.

Steps to saving on Ford Transit Connect insurance in Memphis

If you want to save money, the best way to quote cheaper Ford Transit Connect insurance is to do a yearly price comparison from insurance carriers that insure vehicles in Memphis. Drivers can shop around by following these steps.

The key aspect of shopping around is to compare identical coverages on each quote and and to compare as many different companies as possible. This ensures a fair price comparison and a thorough selection of prices.

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