Save Money on Ford Escape Insurance in Detroit

Would you like to save money by finding lower-priced Ford Escape insurance in Detroit? Are you a victim of overpriced Ford Escape insurance in Detroit? It’s quite common and there are many Detroit consumers feeling the pinch from expensive insurance.

Amazingly, nearly 70% of customers kept their policy with the same company for well over three years, and nearly the majority have never compared rates with other companies. Many consumers in Michigan could save themselves 65% a year just by comparing rates, but most undervalue the actual amount they would save if they changed companies.

Consumers have so many car insurance companies to purchase coverage from, and although it’s nice to have a choice, so many choices can make it hard to find the lowest rates for Ford Escape insurance in Detroit.

Buy Detroit Ford Escape insurance online

To find the best auto insurance prices, there are several ways to obtain and compare prices from many different Michigan insurance companies. The fastest way to find competitive Ford Escape insurance rates is simply to get online rate quotes.

Doing price comparisons online is so simple that it takes the place of having to spend time driving to insurance agents’ offices. The fact that you can get quotes online eliminates this option unless you prefer the professional advice of a local agency. If you prefer, some companies allow you to obtain prices from the web but have a local agent actually write the policy.

When quoting auto insurance, remember that obtaining a wide range of quotes provides better odds of finding more affordable rates.

The car insurance companies shown below provide comparison quotes in Michigan. To get the cheapest car insurance in Detroit, we suggest you click on several of them to get the cheapest price.

Rates and detailed analysis

The premium table displayed below covers different insurance premium costs for Ford Escape models. Having a better understanding of how insurance premiums are formulated can benefit drivers when making decisions when shopping your coverage around.

Prices based on married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Michigan minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Price information does not factor in specific garaging location which can decrease or increase rates considerably.

Auto insurance deductibles

A question often asked by Detroit drivers is which comprehensive and collision deductibles to buy. The following tables may help to illustrate the price difference between low and high deductibles. The first rate table uses a $100 deductible for comp and collision and the second pricing table uses a $1,000 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Michigan minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Information does not factor in specific Detroit garaging location which can change coverage rates substantially.

We can derive from the above data that using a $100 deductible will cost in the ballpark of $59 more each month or $708 annually across all Ford Escape models than buying the higher $1,000 deductible. Due to the fact that you would have to pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average at least 15 months between claims, you would probably come out ahead by going with a higher deductible. The numbers below show how you can make this decision for your own policy.

One important caveat is that increasing deductibles to lower your rates results in a higher out-of-pocket expense at claim time. You need to have some savings in the bank in the event you need to pay more to get your vehicle repaired.

The illustration below demonstrates how deductible levels and can influence Ford Escape annual premium costs for different age groups. The information is based on a single female driver, comp and collision included, and no discounts are applied to the premium.

How violations and accidents impact rates

The illustration below highlights how traffic violations and at-fault collisions can impact Ford Escape insurance prices for different age groups. The rate quotes are based on a married female driver, comp and collision included, $100 deductibles, and no discounts are taken into consideration.

Auto insurance rates by age and gender in Detroit

The chart below shows the difference between Ford Escape insurance premiums for male and female drivers. The premiums assume no claims or driving citations, full physical damage coverage, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

Does full coverage make sense?

The illustration below illustrates the difference between Ford Escape premium costs with full coverage and liability only. The prices are based on no claims or violations, $1,000 deductibles, single marital status, and no policy discounts are applied.

Are you wasting money on full coverage?

There is no clear-cut rule for phasing out physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then you might consider buying liability only.

For example, let’s say your Ford Escape claim settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $5,000 after paying your policy deductible. If premium cost is more than $500 annually for physical damage coverage, then you might consider buying liability only.

There are some situations where only buying liability is not a good plan. If you haven’t paid off your loan, you have to keep full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Insurance does more than just repair your car

Even though it can be expensive, insuring your vehicle is not optional due to several reasons.

• The majority of states have mandatory insurance requirements which means the state requires specific limits of liability insurance in order to get the vehicle licensed. In Michigan these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If you took out a loan on your Escape, most banks will stipulate that you carry insurance to protect their interest in the vehicle. If the policy lapses, the lender may insure your Ford for a lot more money and require you to fork over the higher premium.
• Insurance safeguards both your assets and your Ford Escape. It will also reimburse you for many types of medical costs for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, will also pay attorney fees if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, your policy will pay to repair the damage.

The benefits of having insurance greatly outweigh the cost, specifically if you ever have a liability claim. The average driver in America overpays more than $855 a year so compare quotes from several companies once a year at a minimum to make sure the price is not too high.

Auto insurance 101

Knowing the specifics of your policy aids in choosing which coverages you need for your vehicles. Auto insurance terms can be confusing and even agents have difficulty translating policy wording. These are the usual coverages found on most auto insurance policies.

Coverage for medical payments

Med pay and PIP coverage pay for bills for prosthetic devices, nursing services, ambulance fees and chiropractic care. The coverages can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Liability car insurance

Liability insurance will cover damage or injury you incur to a person or their property in an accident. It protects YOU against claims from other people. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 20/40/10 which means $20,000 in coverage for each person’s injuries, $40,000 for the entire accident, and property damage coverage for $10,000. Some companies may use one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.

Liability coverage pays for claims like attorney fees, structural damage, pain and suffering and court costs. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible. Michigan requires drivers to carry at least 20/40/10 but you should consider buying better liability coverage.

The illustration below demonstrates why low liability limits may not provide you with enough coverage.

Comprehensive coverages

Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as damage from getting keyed, falling objects and damage from flooding. The most you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision coverage protection

This covers damage to your Escape caused by collision with another car or object. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for things such as hitting a parking meter, hitting a mailbox, sideswiping another vehicle, crashing into a building and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. It’s also possible to choose a higher deductible on your Escape in order to get cheaper collision rates.

Uninsured and underinsured coverage

Your UM/UIM coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries as well as damage to your Ford Escape.

Since many Michigan drivers carry very low liability coverage limits (Michigan limits are 20/40/10), their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked. Most of the time these coverages are similar to your liability insurance amounts.

Cheaper insurance premiums are out there

Discount Ford Escape insurance in Detroit can be bought both online in addition to local insurance agencies, so you should compare both to have the best chance of lowering rates. Some insurance companies do not offer online quoting and many times these small, regional companies sell through independent agents.

In this article, we covered a lot of techniques to reduce Ford Escape insurance premium rates online in Detroit. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. You may even find the biggest savings come from a small mutual company. Some small companies may only write in your state and offer lower prices as compared to the big name companies such as State Farm or Progressive.

Steps to finding low-cost rates for Ford Escape insurance in Detroit

If you want to save the most money, the best way to get discount Ford Escape insurance is to compare prices once a year from insurance carriers in Detroit. Rate comparisons can be done by following these guidelines.

Step 1: Try to comprehend how companies price auto insurance and the things you can change to keep rates down. Many things that cause rate increases such as at-fault accidents and poor credit history can be remedied by making small lifestyle or driving habit changes.

Step 2: Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while agents who are independent can provide rate quotes from multiple insurance companies.

Step 3: Compare the new quotes to your existing rates and see if you can save money. If you can save some money, make sure the effective date of the new policy is the same as the expiration date of the old one.

Step 4: Tell your current agent or company of your decision to cancel your existing policy and submit a signed application and payment to the newly selected company. Be sure to put the certificate verifying proof of insurance with the vehicle registration.

The key thing to know about shopping around is to try to use identical limits and deductibles on each price quote and and to get rate quotes from all possible companies. This helps ensure a fair rate comparison and the best rate selection.

Much more information about insurance in Michigan is available at these links:

• What are my Rights when Filing a Claim? (Insurance Information Institute)
• How Much are Car Insurance Rates for Drivers Requiring a SR22 in Detroit? (FAQ)
• Who Has the Cheapest Detroit Car Insurance Quotes for Drivers Under 25? (FAQ)
• How Much is Detroit Auto Insurance for Immigrants? (FAQ)
• Auto Insurance 101 (About.com)
• Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
• Choosing an Insurance Company (Insurance Information Institute)