How to Save on Memphis Ford Focus Insurance

High-priced car insurance in Memphis can stress out your family’s budget and force you to cut corners elsewhere.

Amazingly, a large majority of drivers have been with the same company for more than four years, and just under half have never even compared quotes to find cheap rates. Many consumers in the United States can cut their rates by nearly 47% a year by just shopping around, but they feel it’s too difficult to shop their coverage around. Insurance companies such as State Farm, Progressive and GEICO all claim big savings, bombarding you with fancy advertisements and it is difficult to see past the corporate glitz and do the work needed to find the best deal.

If you have coverage now or are looking for a new policy, follow these tips to reduce the price you pay while maintaining coverages. Locating the most cost-effective insurance policy in Memphis can be made easier if you know where to look. Shoppers only need an understanding of the most time-saving way to shop their coverage around instantly.

Reduce your car insurance rates with discounts

Car insurance is easily one of your largest bills, but you might be missing out on some discounts that could help you make your next renewal payment. Certain reductions will be credited when you quote, but a few need to be requested specifically in order for you to get them.

• Memphis Homeowners Pay Less – Owning a home in Memphis can earn you a little savings since owning and maintaining a home shows financial diligence.
• Passenger Safety Discount – Vehicles equipped with air bags or automatic seat belts may earn rate discounts of up to 25% or more.
• ABS Brakes – Cars, trucks, and SUVs with ABS and/or traction control can avoid accidents and therefore earn up to a 10% discount.
• Student in College – Any of your kids who live away from home to go to college and do not have a car may be able to be covered for less.
• Multiple Vehicles – Buying a policy with multiple cars or trucks on the same car insurance policy could earn a price break for each car.
• Good Student – Being a good student can save 20 to 25%. The good student discount can last up until you turn 25.
• Active Service Discounts – Being on active duty in the military can result in better prices.

Consumers should know that many deductions do not apply to the entire policy premium. Most only cut specific coverage prices like physical damage coverage or medical payments. So even though you would think adding up those discounts means a free policy, that’s just not realistic. But all discounts will reduce your overall premium however.

The example below compares Ford Focus auto insurance costs with and without discounts being applied to the rates. The rates are based on a female driver, no accidents or driving violations, Tennessee state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, marriage, safe-driver, multi-policy, and multi-car discounts applied.

To see insurers with discount rates in Memphis, click here.

Getting a cheaper price on insurance is actually easier than you may think. You just need to take a couple of minutes to compare rate quotes provided by online insurance companies.

Doing price comparisons online is so simple that it makes it obsolete to go to insurance agencies in your area. Quoting and buying Ford Focus insurance online has made agencies unnecessary unless you prefer the professional assistance only provided by licensed agents. You can, however, find lower rates online and have a local agent actually service the policy.

The companies in the list below are our best choices to provide quotes in Tennessee. To find the cheapest auto insurance in Tennessee, we recommend you click on several of them to find the most competitive auto insurance rates.

Rates and information analytics

The coverage table shown below highlights a range of insurance premium costs for Ford Focus models. Having insight into how policy rates are determined can help drivers make smart choices when selecting a coverage provider.

Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Rate quotes do not factor in specific zip code location which can raise or lower price quotes substantially.

Comparison of policy deductibles

One common question asked by Memphis drivers is how high should your deductibles be. The comparisons below can help illustrate the costs and benefits when you choose different comp and collision deductibles. The first pricing table uses a $250 deductible for comprehensive and collision coverage and the second set of prices uses a $1,000 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Premium costs do not factor in vehicle garaging location which can revise price quotes greatly.

Based on the figures above, using a $250 deductible could cost the average driver approximately $21 more each month or $252 every year than quoting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you normally average more than 36 months between claim filings, you would probably save some money if you elect the higher deductible. The illustration below shows a better example of how you can make this decision for your own policy.

An important sidenote is that raising deductibles to get cheaper rates means you will have to pay more out-of-pocket when you do file a claim. You will want to have enough money stashed away in the event you have to pay the deductible for vehicle repair.

The diagram below demonstrates how deductible levels and can influence Ford Focus insurance costs for each different age category. The data assumes a married male driver, comp and collision included, and no discounts are applied to the premium.

Ford Focus insurance costs by gender and age

The chart below visualizes the comparison of Ford Focus insurance costs for male and female drivers. The data assumes no violations or accidents, full physical damage coverage, $500 deductibles, single marital status, and no additional discounts are factored in.

Decisions You Make Can Impact Your Insurance Premiums

Part of the auto insurance buying process is learning some of the factors that aid in calculating the price you pay for auto insurance. If you know what controls the rates you pay, this allows you to make educated decisions that could result in much lower annual insurance costs.

The itemized list below are some of the most common factors auto insurance companies consider when setting your premiums.

Miles driven impacts costs – Driving a lot of miles each year the more you’ll pay to insure your vehicle. Almost all companies charge rates determined by how the vehicle is used. Autos that do not get driven very much get more affordable rates than cars that get driven a lot. Incorrect rating for your Focus is throwing money out the window. It’s a smart idea to ensure your auto insurance policy shows annual mileage, because improper ratings can cost you money.

Low stress job equals lower rates – Occupational choices like fire fighters, police officers, and stock brokers are shown to have higher premium rates attributed to intense work situations and long work days. On the other hand, occupations such as professors, students and the unemployed get better rates.

Accidents increase prices – Only having one speeding ticket or other violation may cause rates to rise twenty percent or more. Careful drivers have lower premiums than bad drivers. Drivers who have received multiple tickets like DUI, reckless driving or excessive speeding may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to drive a vehicle legally.

The diagram below shows how speeding tickets and at-fault accidents can affect Ford Focus auto insurance costs for different age groups. The prices are based on a married female driver, full physical damage coverage, $100 deductibles, and no discounts are applied.

Bundle policies with the same company – Most larger companies apply discounts to customers who carry more than one policy such as combining an auto and homeowners policy. The amount of the discounts can be ten percent or more. Even if you’re getting this discount you may still want to get quotes from other companies to help guarantee you have the best rates.

Teenage vs. experienced drivers – Beginning drivers in Tennessee are known to get distracted easily when driving so they pay higher auto insurance rates. Older insureds are more responsible, tend to cause fewer accidents, and are generally more financially stable.

The data below is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.

Ford Focus insurance claim data – Insurance companies analyze the history of losses in order to profitably underwrite each model. Models that the statistics show to have increased losses will have higher premium rates. The table below demonstrates the loss history for Ford Focus vehicles.

For each coverage category, the statistical loss for all vehicles, regardless of make or model, is represented as 100. Numbers under 100 indicate a favorable loss history, while percentage numbers above 100 indicate more frequent losses or a tendency for losses to be larger than average.

Independent versus exclusive auto insurance agents

Many drivers still like to get professional advice from a licensed agent and doing that can be a smart decision Good agents are trained risk managers and help in the event of a claim. The biggest benefit of comparing insurance prices online is that you can obtain cheap car insurance quotes and still choose a local agent.

To help locate an agent, after submitting this quick form, your insurance coverage information gets sent to participating agents in Memphis who will give competitive quotes to get your business. There is no need to contact any insurance agencies due to the fact that quote results will go instantly to you. If you wish to get a price quote for a specific company, just visit that company’s website to submit a rate quote request.

Picking the best company is decision based upon more than just the premium amount. The questions below may impact your decision as well.

• Are they giving you every discount you deserve?
• Do you work with a CSR or direct with the agent?
• Do they have designations such as AIC, CPCU, or CIC?
• How are claims handled?
• What kind of financial rating does the company have?
• Do they review policy coverages at every renewal?

Auto insurance agents in Memphis come in two varieties

If you want to use a local agent, you should know the different agency structures and how they can service your needs differently. Car insurance agents in Memphis can be categorized as either independent (non-exclusive) or exclusive. Both types of agents can insure your vehicles properly, but it’s worth mentioning the differences because it can influence which type of agent you select.

Exclusive Insurance Agencies

Agents that choose to be exclusive normally can only provide a single company’s rates such as State Farm, Allstate, and Farm Bureau. Exclusive agents cannot compare rates from other companies so you might not find the best rates. Exclusive agents are well schooled on their company’s products which helps offset the inability to provide other markets.

The following is a short list of exclusive agencies in Memphis that are able to give rate quotes.

More insurance agents

Independent Agents (or Brokers)

These type of agents are not employed by one company and that enables them to quote your coverage amongst many companies and potentially find a lower price. To transfer your coverage to a different company, they can switch companies in-house which is easy for the insured.

When comparing rates, it’s recommended you check rates from a few independent agents for the best price selection.

The following is a short list of independent agencies in Memphis who can help you get price quotes.

More insurance agents

Three reasons to not skimp on car insurance

Despite the fact that car insurance is not cheap in Memphis, insurance may be required for several reasons.

• Almost all states have mandatory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability if you don’t want to risk a ticket. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
• If you bought your Ford Focus with a loan, almost all lenders will require that you buy insurance to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the bank may insure your Ford at an extremely high rate and force you to pay for the much more expensive policy.
• Car insurance preserves not only your car but also your financial assets. It will also provide coverage for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. Liability insurance also pays expenses related to your legal defense in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.

The benefits of carrying enough insurance more than offset the price you pay, especially when you need to use it. But the average American driver overpays more than $825 a year so smart consumers compare quotes at every policy renewal to ensure rates are inline.

Memphis auto insurance companies ranked

Choosing the right insurance company can be difficult considering how many choices there are in Tennessee. The ranking data shown next can help you choose which insurers to look at buying from.

Top 10 Memphis Car Insurance Companies Overall

1. Travelers
2. USAA
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Allstate
7. State Farm
8. The Hartford
9. Safeco Insurance
10. Progressive

Don’t give up on cheaper rates

Some insurance providers do not provide online quoting and these regional insurance providers prefer to sell through independent insurance agencies. Cost effective Ford Focus insurance is attainable online and with local Memphis insurance agents, and you should compare price quotes from both in order to have the best chance of saving money.

Throughout this article, we presented a lot of ways to save on Ford Focus insurance in Memphis. The most important thing to understand is the more companies you get premium rates for, the better likelihood of getting cheaper Memphis auto insurance quotes. You may even discover the most savings is with some of the lesser-known companies. These companies may only write in your state and offer lower premium rates than the large multi-state companies such as State Farm and Allstate.

As you go through the steps to switch your coverage, it’s not a good idea to buy less coverage just to save a little money. There are too many instances where drivers have reduced liability limits or collision coverage only to regret at claim time that the few dollars in savings costed them thousands. Your strategy should be to purchase a proper amount of coverage at the best possible price while still protecting your assets.

How to buy cheaper Ford Focus insurance in Memphis

If saving money is your primary concern, then the best way to quote cheaper car insurance rates is to do an annual price comparison from providers in Memphis. Drivers can shop around by following these steps.

• Step 1: Read and learn about how insurance companies determine prices and the things you can change to prevent rate increases. Many rating criteria that cause rate increases like your driving record and a poor credit rating can be rectified by improving your driving habits or financial responsibility.
• Step 2: Compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agents can provide prices from many different companies.
• Step 3: Compare the new rate quotes to your existing policy and see if you can save money. If you find a lower rate quote, make sure coverage is continuous and does not lapse.
• Step 4: Provide notification to your current company to cancel your existing policy and submit payment and a completed application to your new agent or company. Immediately upon receiving it, store the certificate verifying proof of insurance in an easily accessible location in your vehicle.

A tip to remember is to try to use the same level of coverage on every price quote and and to get rate quotes from as many companies as possible. This guarantees a fair price comparison and a complete selection of prices.

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