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.

It’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.

• One Accident Forgiven – Not really a discount, but companies like State Farm and GEICO will allow you to have one accident before they charge you more for coverage so long as you are claim-free before the accident.
• Student in College – Older children who are attending college and do not have a car can receive lower rates.
• Air Bags and Passive Restraints – Vehicles with factory air bags or automatic seat belts may earn rate discounts up to 30%.
• Life Insurance – Larger car insurance companies have a discount if you purchase a life policy as well.
• Seat Belt Usage – Buckling up and requiring all passengers to use their safety belts could cut 10% or more off the medical payments premium.
• Defensive Driving Course – Successfully completing a course teaching driver safety skills could earn you a small percentage discount and make you a better driver.
• Own a Home – Owning a home in Memphis may earn you a small savings because of the fact that having a home shows financial diligence.
• Discounts for New Vehicles – Buying a new car instead of a used Transit Connect is cheaper since new model year vehicles are generally safer.
• Sign Early and Save – Some companies provide a discount for buying a new policy prior to your current Transit Connect insurance policy expiring. It’s a savings of about 10%.

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:

• American Family
• Nationwide
• MetLife
• 21st Century
• Farmers Insurance
• Allstate

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.

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.

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.

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.

To 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.

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.

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.

• Does the agent recommend any additional coverage?
• Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
• Do they specialize in personal lines auto insurance in Memphis?
• Has the agent ever had any license suspensions?
• Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
• Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?

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 that
Here are some questions about coverages that might help in determining whether you might need professional guidance.

• Am I covered if I break a side mirror?
• Is pet coverage available?
• Am I covered by my spouse’s policy after a separation?
• Should I rate my vehicle as business use?
• When should I buy a commercial auto policy?
• Does my policy cover me when driving someone else’s vehicle?

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.

• Excellent credit saves on car insurance – Credit score can be an important factor in calculating your premium rate. So if your credit score leaves room for improvement, you could save money insuring your Ford Transit Connect by improving your rating. Consumers who have excellent credit tend to be more responsible and file fewer claims than those with lower ratings.
• Never let your policy lapse – Driving with no insurance is against the law and any future policy may cost more because you let your insurance lapse for non-payment. And not only will your rates increase, getting caught without coverage will get you a revoked license or a big fine. You may need to prove you have insurance by filing a SR-22 with the Tennessee motor vehicle department to get your license reinstated.

• Premiums drop with age – Drivers with little experience have a tendency to get distracted easily when driving with friends so car insurance rates are higher. Parents adding a teen driver to your policy will cause a huge premium hike. Older drivers have been proven to be more responsible, cause fewer claims and accidents, and usually have better credit.

  The following chart is based on a single driver, full coverage with $500 deductibles, and no discounts or violations.

• Do you really need the extra policy coverages? – Insurance policies have a lot of additional coverages that can add up if you aren’t diligent. Insurance for things like vanishing deductibles, death and dismemberment, and additional equipment coverage could be just wasting money. These coverages may sound good when buying your policy, but if they’re wasting money think about removing them and cutting costs.

• Better drivers have lower costs – Whether or not you get tickets has a big impact on rates. Having just one moving violation can boost insurance rates by as much as thirty percent. Attentive drivers have lower premiums compared to drivers with tickets. Drivers who have serious tickets such as hit and run, DWI or reckless driving convictions may find they need to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to prevent a license revocation.

  The diagram below illustrates how traffic citations and at-fault collisions impact Ford Transit Connect annual premium costs for different insured age categories. The prices are based on a single female driver, full coverage, $500 deductibles, and no other discounts are factored in.

• Stay claim-free and lower premiums – Insurance companies in Tennessee award the lowest premiums to people that do not abuse their auto insurance. If you are the type of insured that files lots of claims you can expect much higher rates or policy non-renewal. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
• Cheaper rates with high deductibles – Comprehensive and collision coverage deductibles state the amount of money you are willing to pay if you file a covered claim. Physical damage coverage, also called ‘full coverage’, is used to repair damage to your car. Examples of some claims that would be covered are rear-ending another vehicle, animal collisions, and having a roll-over accident. The more damage repair cost you are required to pay out-of-pocket, the better rate you will receive.

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.

• Just about all states have minimum liability requirements which means state laws require a specific minimum amount of liability in order to get the vehicle licensed. 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 Transit Connect with a loan, more than likely the lender will have a requirement that you have comprehensive coverage to protect their interest in the vehicle. If the policy lapses, the lender may insure your Ford at a much higher rate and require you to pay the higher premium.
• Insurance safeguards not only your vehicle but also your financial assets. It will also cover hospital and medical expenses incurred in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense in the event you are sued. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.

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.

• Step 1: Spend some time learning about how auto insurance works and the things you can control to keep rates low. Many rating criteria that cause rate increases like traffic citations and a less-than-favorable credit history can be rectified by making minor changes to your lifestyle.
• Step 2: Compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can give quotes from a single company like GEICO and Allstate, while independent agents can give you price quotes for a wide range of insurance providers. Select a company
• Step 3: Compare the price quotes to your current policy to determine if you can save on Transit Connect insurance in Memphis. If you find a lower rate and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
• Step 4: Notify your agent or company of your intention to cancel your current car insurance policy. Submit a down payment along with a completed application to your new insurance company. Don’t forget to put the new proof of insurance certificate in an easily accessible location in your vehicle.

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.

To read more, feel free to visit these articles:

• Five Mistakes to Avoid (Insurance Information Institute)
• Who Has Affordable Car Insurance Rates for First-time Drivers in Memphis? (FAQ)
• Who Has Cheap Car Insurance Quotes for Low Mileage Drivers in Memphis? (FAQ)
• What Insurance is Cheapest for State Employees in Memphis? (FAQ)
• Who Has Affordable Auto Insurance for Teenagers in Memphis? (FAQ)
• Who Has the Cheapest Memphis Auto Insurance for a Honda CR-V? (FAQ)
• Child Safety FAQ (iihs.org)
• How to shop for a safer car (Insurance Institute for Highway Safety)
• Avoiding Deer Collisions (Insurance Information Institute)
• Booster Seat Ratings (iihs.org)