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.
- First, take a little time to learn about the different coverages in a policy and the things you can change to prevent rate increases. Many risk factors that cause rate increases such as multiple speeding tickets and an unfavorable credit rating can be amended by improving your driving habits or financial responsibility. This article provides more ideas to help prevent high rates and get additional discounts that may have been overlooked.
- Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from one company like GEICO and Allstate, while independent agents can provide price quotes for many different companies. View companies
- Third, compare the new rates to your current policy premium to see if a cheaper rate is available. If you find a better price and switch companies, ensure coverage does not lapse between policies.
- Fourth, tell your current company to cancel your current coverage. Submit a signed application and payment to the newly selected company. Once the application is submitted, put the new proof of insurance certificate in an easily accessible location.
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.
It’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.
- Most states have compulsory liability insurance requirements which means state laws require specific minimum amounts of liability protection in order to be legal. 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 your vehicle has a lienholder, it’s most likely the lender will require that you have physical damage coverage to ensure they get paid if you total the vehicle. If you let the policy lapse, the bank or lender will purchase a policy for your Ford at a significantly higher premium and make you pay for it.
- Auto insurance protects your car and your assets. Insurance will pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
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.
| 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.
| 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 | |||||||
| 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.
- Fewer Miles Equal More Savings – Driving fewer miles could be rewarded with lower rates due to less chance of an accident.
- Government Employee Discount – Federal government employees could cut as much as 10% off depending on your company.
- Clubs and Organizations – Participating in a qualifying organization is a simple method to lower premiums on car insurance.
- Telematics Discount – Drivers that enable their insurance company to look at where and when they drive through the use of a telematics system such as Progressive’s Snapshot might see lower rates if they are good drivers.
- Discount for Passive Restraints – Vehicles equipped with air bags may get savings up to 30%.
- Pay Upfront and Save – By paying your entire bill at once instead of paying each month you could save 5% or more.
- College Student – Youth drivers who attend college more than 100 miles from Memphis and do not have access to a covered vehicle may qualify for this discount.
- Theft Deterrent System – Anti-theft and alarm system equipped vehicles prevent vehicle theft and therefore earn up to a 10% discount.
- Renewal Discounts – Select car insurance companies give a discount for switching to them prior to your current Explorer insurance policy expiration. Ten percent is about the average savings.
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.
- State Farm policyholders can earn discounts including driver’s education, good student, accident-free, defensive driving training, and multiple policy.
- Liberty Mutual may have discounts that include preferred payment discount, multi-policy, new move discount, multi-car, exclusive group savings, good student, and new graduate.
- American Family offers premium reductions for good student, early bird, accident-free, air bags, Steer into Savings, and bundled insurance.
- Progressive may include discounts for multi-vehicle, continuous coverage, good student, online signing, and multi-policy.
- Farmers Insurance has discounts for pay in full, mature driver, alternative fuel, early shopping, and teen driver.
- Auto-Owners Insurance discounts include student away at school, good student, multi-policy, anti-theft, group or association, and paid in full.
- SAFECO may offer discounts for multi-car, safe driver, bundle discounts, anti-lock brakes, drive less, and teen safety rewards.
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.
After 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.
- Fred L. Davis Insurance Agency – Car Insurance Agency
1374 Airways Blvd – Memphis, TN 38114 – (901) 323-6159 – View Map - BURFORD INSURANCE AGENCY
3325 KIRBY PKWY STE 102 – Memphis, TN 38115 – (901) 507-6873 – View Map - Nationwide Insurance: Tri-State Insurance Agency Inc
5545 Murray Ave Ste 107 – Memphis, TN 38119 – (901) 767-3379 – View Map
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.
- Allstate Insurance: Don Rogers
5812 Winchester Rd – Memphis, TN 38115 – (901) 794-3771 – View Map - Kathy Thurmond-Edwards- State Farm Insurance Agent
680 W Brookhaven Cir – Memphis, TN 38117 – (901) 767-7744 – View Map - Zach Jaworski – State Farm Insurance Agent
6060 Primacy Pkwy #221 – Memphis, TN 38119 – (901) 794-3691 – View Map
Finding a good insurance agent is decision based upon more than just the bottom line cost. The answers to these questions are important, too.
- What is their Better Business Bureau rating?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Is the agent properly licensed in Tennessee?
- Can you contact them at any time?
- How many companies do they write for?
- How are claims handled?
- How experienced are they in personal risk management?
- Are they actively involved in the community?
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.
For example, these questions can help discover whether your personal situation could use an agent’s help.
- Am I covered if my car is in a flood?
- Is my Ford Explorer covered for flood damage?
- How much underlying liability do I need for an umbrella policy?
- Will damage be repaired with OEM parts?
- Is extra glass coverage worth it?
- What is UM/UIM insurance?
- Where can I get insurance after a DUI in Tennessee?
- When should I remove comp and collision on my Ford Explorer?
- Should I rate my Ford Explorer as pleasure use or commute?
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.
Other learning opportunities
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for Teenage Males in Memphis? (FAQ)
- Who Has Cheap Memphis Auto Insurance for a Ford Explorer? (FAQ)
- Who Has Affordable Auto Insurance Rates for 17 Year Olds in Memphis? (FAQ)
- How Much are Car Insurance Rates for Uber Drivers in Memphis? (FAQ)
- Who Has Cheap Memphis Auto Insurance for Business Use? (FAQ)
- Who Has Affordable Auto Insurance for Teenage Females in Memphis? (FAQ)
- Booster Seat Ratings (iihs.org)
- Child Safety FAQ (iihs.org)
- Protecting Teens from Drunk Driving (Insurance Information Institute)