Auto Insurance Rates for a Ford Fusion in Memphis

Want to save money and find the cheapest Ford Fusion insurance in Memphis? Trying to find more affordable Ford Fusion insurance in Memphis is always challenging for drivers new to quoting and comparing rates online. With so many online companies, it can easily become a difficult situation to locate the lowest prices.

A recent NerdWallet.com study revealed that nearly 70% of customers have purchased from the same company for more than four years, and nearly half have never even compared rates from other companies. With the average car insurance premium being $1,400, Tennessee drivers could save approximately $480 each year, but most tend to underestimate the rate savings if they switch to a new company.

When price shopping your coverage, obtaining a wide range of quotes helps you find the best rates.

The companies shown below offer free rate quotes in Tennessee. To locate cheap car insurance in Tennessee, it’s a good idea that you get rates from several of them to find the cheapest auto insurance rates.

Discounts mean cheaper rates for Ford Fusion insurance in Memphis

Insurance is not inexpensive, but there could be available discounts to help offset the cost. A few discounts will be applied when you get a quote, but some need to be specially asked for in order for you to get them.

• Use Seat Belts – Using a seat belt and requiring all passengers to buckle their seat belts could cut 10% or more off PIP or medical payments premium.
• No Claims – Claim-free drivers pay less in comparison to insureds who have frequent claims or accidents.
• Drive Less and Save – Low mileage vehicles could be rewarded with lower prices due to less chance of an accident.
• Student Discounts – Getting good grades may save as much as 25% on a Memphis car insurance quote. The discount lasts up to age 25.
• No Charge for an Accident – This one isn’t a discount, but a few companies such as Allstate and State Farm will turn a blind eye to one accident without the usual rate increase if you have no claims before the accident.
• Buy New and Save – Buying a new car instead of a used Fusion can save you some money because new model year vehicles are generally safer.
• Clubs and Organizations – Being a member of specific professional or occupational memberships or organizations may earn a discount on your next insurance statement.
• College Student Discount – Youth drivers who attend college more than 100 miles from Memphis and do not have access to a covered vehicle may be able to be covered for less.
• Own a Home and Save – Simply owning a home may earn you a small savings due to the fact that maintaining a home means you have a higher level of financial diligence.
• Paperless Signup – A handful of insurance companies will give you a small discount for buying your policy on the web.

Don’t be shocked that most discounts do not apply to all coverage premiums. Most only apply to specific coverage prices like liability and collision coverage. So even though they make it sound like all those discounts means the company will pay you, it just doesn’t work that way. But all discounts will positively reduce the cost of your policy.

The diagram below shows the comparison of Ford Fusion insurance premiums with and without discounts. The data assumes a female driver, no driving violations, no at-fault accidents, Tennessee state minimum liability limits, comprehensive and collision 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, homeowner, multi-policy, safe-driver, multi-car, and marriage discounts applied.

To choose companies that can offer you the previously mentioned discounts in Memphis, follow this link.

Analysis of coverages

The premium information displayed next highlights estimates of insurance coverage prices for Ford Fusion models. Having a better understanding of how policy rates are formulated can benefit drivers when making smart choices when selecting a policy.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Premium amounts do not factor in the specific area where the vehicle is garaged which can affect auto insurance rates noticeably.

Where to set your deductibles

When buying car insurance, a common question is the level to set your comp and collision deductibles. The figures shown below help summarize how much more rates are when you select higher and lower deductibles. The first rate comparisons uses a $250 deductible for physical damage and the second data table uses a $1,000 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Rate information does not factor in your specific Memphis location which can affect price quotes significantly.

Based on the figures above, using a $250 deductible costs an average of $25 more each month or $300 for a full year than buying the higher $1,000 deductible. Because you would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you usually have at a minimum 30 months between claim filings, you would probably come out ahead if you decide on a higher deductible.

Poor driving habits will raise your car insurance rates

The diagram below highlights how speeding tickets and at-fault accidents can affect Ford Fusion insurance costs for each age group. Data assumes a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.

Does it make sense to buy full coverage?

The information below shows the difference between Ford Fusion car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on no accidents, no driving violations, $250 deductibles, single marital status, and no additional discounts are factored in.

When to drop comp and collision

There is no clear-cut rule to stop paying for comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let’s say your Ford Fusion claim settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after the policy deductible has been paid. If it’s costing you more than $800 a year for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some cases where dropping full coverage is not a good plan. If you still have a lienholder on your title, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should maintain full coverage.

Auto insurance company ratings

Buying coverage from the top insurer is difficult considering how many different companies insure vehicles in Memphis. The company ratings listed below can help you decide which providers to look at comparing price quotes 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

Top 10 Memphis Car Insurance Companies Ranked by Value

1. Mercury Insurance
2. Travelers
3. American Family
4. AAA Insurance
5. Safeco Insurance
6. Progressive
7. The Hartford
8. Erie Insurance
9. Esurance
10. The General

How to Lower Your Insurance Rates

The best way to find cheaper insurance is to take a look at some of the factors that aid in calculating your policy premiums. If you have some idea of what positively or negatively impacts your premiums, this empowers consumers to make smart changes that will entitle you to lower rates.

If you don’t need it don’t buy it – There are many optional add-on coverages that can waste your money if you aren’t diligent. Coverage for things like vanishing deductibles, towing, and membership fees are examples of these. They may sound like good ideas initially, but if you don’t need them get rid of them and save.

Higher rates for specific occupations – Did you know that where you work can have an impact on rates? Occupations such as fire fighters, airline pilots, and miners generally have higher average rates due to intense work situations and long work days. On the other hand, jobs like professors, historians and retirees pay lower than average rates.

Deter car thieves – Driving a car that has an advanced theft prevention system can get you a discount on your insurance. Theft deterrent systems such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help prevent auto theft and help lower rates.

Choose high NHTSA crash test ratings and save – Cars with high safety ratings are cheaper to insure. These vehicles help reduce the chance of injuries in an accident and reduced instances of injuries means your insurance company pays less passed on to you as lower rates. If the Ford Fusion scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.

Does insurance coverage cost more for guys? – Statistics show women are more cautious behind the wheel. However, this does not mean women are better drivers. Women and men have auto accidents at about the same rate, but the men get into accidents with more damage. They also have more aggressive citations like reckless driving and DUI.

The diagram below illustrates the difference between Ford Fusion yearly insurance costs for male and female drivers. The rate quotes are based on no violations or accidents, full coverage, $250 deductibles, drivers are single, and no other discounts are factored in.

Ford Fusion claim statistics – Car insurance companies use statistical claims data to help determine the rate you pay. Vehicles that have higher claim amounts or frequency will cost more to insure. The table below demonstrates the historical insurance loss data for Ford Fusion vehicles.

For each insurance policy coverage type, the statistical loss for all vehicles combined as an average is equal to 100. Numbers below 100 imply a favorable loss record, while values over 100 indicate more frequent claims or an increased probability of a larger loss.