It’s shocking but the vast majority of consumers have bought insurance from the same company for at least the last four years, and nearly half have never even shopped around for cheaper coverage. Consumers in the United States can save hundreds of dollars each year just by shopping around, but they just don’t understand the amount of savings they would get if they just switched companies.
It takes a little time, but the best way to get affordable Ford Taurus insurance in Memphis is to compare quotes annually from different companies in Tennessee.
- It will benefit you to learn about what is in your policy and the steps you can take to keep rates down. Many factors that cause rate increases such as inattentive driving and an imperfect credit history can be remedied by paying attention to minor details. This article gives ideas to lower rates and find discounts that may have been missed.
- Compare rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from one company like GEICO or Allstate, while independent agents can give you price quotes from multiple insurance companies.
- Compare the new rates to your current policy premium to determine if switching companies saves money. If you can save money and make a switch, make sure coverage does not lapse between policies.
- Provide written notification to your current company to cancel your current coverage. Submit a down payment and signed policy application to the new company. As soon as you receive it, put the new certificate of insurance in an easily accessible location.
The most important part of shopping around is to make sure you’re comparing similar deductibles and liability limits on each price quote and to quote with as many different insurance providers as possible. Doing this helps ensure an accurate price comparison and the best price selection.
This information will help you learn the best ways to compare prices. If you have insurance now, you will surely be able to reduce the price you pay using the techniques covered below. Although Tennessee vehicle owners can benefit by having an understanding of how the larger insurance companies calculate their prices because it can help you find the best coverage.
The method we recommend to compare car insurance rates for Ford Taurus insurance in Memphis takes advantage of the fact all the major auto insurance companies have advanced systems to give you rate quotes. To begin a comparison, all you need to do is take a few minutes to give details such as your general credit rating, what you do for a living, your education level, and driver details. The data is then submitted to multiple top-rated companies and they respond with quotes immediately.
If you would like to compare rates now, click here then complete the form.
The companies shown below can provide price quotes in Memphis, TN. If multiple companies are listed, we suggest you click on several of them to get a more complete price comparison.
Lower-cost Ford Taurus insurance in Memphis
Insurance can be prohibitively expensive, but there could be available discounts to help offset the cost. Certain reductions will be credited at the time you complete a quote, but occasionally some discounts must be asked for prior to getting the savings.
- Accident Forgiveness – Not a discount per se, but companies like Allstate and GEICO will forgive one accident without getting socked with a rate hike as long as you don’t have any claims before the accident.
- Defensive Driving Course – Taking part in a class that teaches safe driver techniques could cut 5% off your bill depending on where you live.
- Senior Citizen Rates – If you’re over the age of 55, you may be able to get a slight reduction on a Memphis auto insurance quote.
- Military Deployment Discount – Being deployed in the military may qualify for rate reductions.
- ABS and Traction Control Discounts – Cars, trucks, and SUVs with ABS and/or traction control can avoid accidents and qualify for as much as a 10% discount.
- Multi-car Discount – Buying insurance for several vehicles on a single policy could earn a price break for each car.
- Early Signing – A few larger companies offer discounts for buying a new policy prior to your current Taurus insurance policy expiration. The savings is around 10%.
- Safety Restraint Discount – Forcing all vehicle occupants to buckle their seat belts could cut 10% or more off the personal injury premium cost.
Don’t be surprised that some of the credits will not apply to the entire policy premium. Some only apply to the price of certain insurance coverages like medical payments or collision. Even though it appears it’s possible to get free car insurance, you aren’t that lucky. But any discount will definitely reduce your overall premium however.
The chart below illustrates the comparison of Ford Taurus auto insurance rates with and without discounts applied to the policy rates. The premiums assume a male driver, a clean driving record, no at-fault accidents, 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 marriage, multi-policy, safe-driver, claim-free, homeowner, and multi-car discounts applied.
A few of the larger companies and a selection of discounts can be read below.
- Farm Bureau may have discounts that include renewal discount, driver training, 55 and retired, multi-policy, safe driver, youthful driver, and multi-vehicle.
- State Farm discounts include passive restraint, Drive Safe & Save, multiple autos, student away at school, and good student.
- Progressive offers premium reductions for online quote discount, multi-policy, good student, continuous coverage, online signing, multi-vehicle, and homeowner.
- Allstate offers discounts for EZ pay plan discount, anti-theft, auto/life discount, early signing, premier plus, and teenSMART discount.
- Nationwide has savings for accident-free, easy pay, multi-policy, defensive driving, business or organization, anti-theft, and Farm Bureau membership.
- MetLife may include discounts for claim-free, good driver, good student, accident-free, multi-policy, and defensive driver.
Double check with each company or agent the best way to save money. Discounts might not be available to policyholders in Memphis. If you would like to view car insurance companies that can offer you the previously mentioned discounts in Memphis, follow this link.
Auto insurance analysis for a Ford Taurus
The price information displayed next outlines estimates of policy rates for Ford Taurus models. Having insight into how rate quotes are figured is important for drivers to make smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Taurus SE | $186 | $278 | $298 | $18 | $90 | $870 | $73 |
| Taurus SEL | $208 | $328 | $298 | $18 | $90 | $942 | $79 |
| Taurus SEL AWD | $208 | $328 | $298 | $18 | $90 | $942 | $79 |
| Taurus Limited | $208 | $328 | $298 | $18 | $90 | $942 | $79 |
| Taurus Limited AWD | $208 | $378 | $298 | $18 | $90 | $992 | $83 |
| Taurus SHO AWD | $228 | $378 | $298 | $18 | $90 | $1,012 | $84 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Premium costs do not factor in specific Memphis garaging location which can lower or raise coverage rates noticeably.
Policy deductibles
One of the most common auto insurance questions is how high should the physical damage coverage deductibles be. The comparison tables below highlight how much more you’ll pay between high and low physical damage coverage deductibles. The first pricing table uses a $100 physical damage coverage deductible and the second data table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Taurus SE | $280 | $448 | $288 | $18 | $86 | $1,145 | $95 |
| Taurus SEL | $312 | $528 | $288 | $18 | $86 | $1,257 | $105 |
| Taurus SEL AWD | $312 | $528 | $288 | $18 | $86 | $1,257 | $105 |
| Taurus Limited | $312 | $528 | $288 | $18 | $86 | $1,257 | $105 |
| Taurus Limited AWD | $312 | $608 | $288 | $18 | $86 | $1,337 | $111 |
| Taurus SHO AWD | $344 | $608 | $288 | $18 | $86 | $1,369 | $114 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Taurus SE | $156 | $236 | $288 | $18 | $86 | $784 | $65 |
| Taurus SEL | $174 | $278 | $288 | $18 | $86 | $844 | $70 |
| Taurus SEL AWD | $174 | $278 | $288 | $18 | $86 | $844 | $70 |
| Taurus Limited | $174 | $278 | $288 | $18 | $86 | $844 | $70 |
| Taurus Limited AWD | $174 | $320 | $288 | $18 | $86 | $886 | $74 |
| Taurus SHO AWD | $192 | $320 | $288 | $18 | $86 | $904 | $75 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Estimates do not factor in zip code location which can influence coverage prices noticeably.
Using the premium rates above, we can conclude that using a $100 deductible will cost you roughly $35 more each month or $420 each year averaged for all Taurus models than selecting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you have more than 26 months between claims, you would probably be better off if you opt for a higher deductible.
Drive responsibly or pay higher rates
The example below demonstrates how citations and at-fault collisions drive up Ford Taurus premium costs for each age group. The information is based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are applied to the premium.
Gender differences in auto insurance premiums
The information below illustrates the comparison of Ford Taurus car insurance rates for male and female drivers. The information is based on no violations or claims, comp and collision included, $1,000 deductibles, single status, and no discounts are factored in.
Cost of full coverage in Memphis
The information below illustrates the difference between Ford Taurus car insurance rates with and without full coverage. The data assumes a clean driving record, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
When to stop buying physical damage coverage
There is no definitive rule for phasing out physical damage coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let’s assume your Ford Taurus book value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $2,000 after paying the physical damage deductible. If premium cost is more than $200 a year to have full coverage, then you might consider buying liability only.
There are some cases where dropping full coverage is not a good plan. If you still have a loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.
Are insurance agencies used anymore?
Certain consumers still like to get professional advice from a licensed agent and that is not a bad decision The biggest benefit of comparing rates online is that you can obtain lower rates and still have an agent to talk to. Supporting local agents is still important in Memphis.
For easy comparison, once you complete this short form, the quote information is instantly submitted to local insurance agents who want to provide quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to contact an agency since rate quotes are delivered to your email. You’ll get the best rates without the usual hassles of price shopping. If you wish to compare rates from one company in particular, feel free to jump over to their website to submit a rate quote request.
Shown below is a list of car insurance companies in Memphis that may be willing to give comparison quotes for Ford Taurus insurance in Memphis.
- Allstate Insurance: Ezekeil Hudson
53 Monroe Ave – Memphis, TN 38103 – (901) 235-9315 – View Map - Allstate Insurance: Brandon Goodrich
3725 Riverdale Rd Ste 4 – Memphis, TN 38115 – (901) 794-0080 – View Map - Fred L. Davis Insurance Agency – Car Insurance Agency
1374 Airways Blvd – Memphis, TN 38114 – (901) 323-6159 – View Map - Kacky Kortenber – State Farm Insurance Agent
7900 Winchester Rd Ste 101 – Memphis, TN 38125 – (901) 757-0303 – View Map
Finding the right insurer needs to be determined by more than just the bottom line cost. A good agent in Memphis will have answers to these questions.
- Can glass claims be handled at your home?
- Will you get a loaner vehicle if you car is being repaired?
- What are their preferred companies if they are an independent agency?
- How would your car be valued if totaled?
- How long has their agency been open in Memphis?
Once you have good feedback to all your questions and a low price estimate, most likely you have located an provider that is professional and can provide auto insurance coverage.
How You Can Control Ford Taurus Insurance Rates
Consumers need to have an understanding of the different types of things that help calculate the level of your policy premiums. If you have some idea of what determines base rates, this enables you to make decisions that could result in better insurance rates.
- Get better rates if married – Having a wife or husband may save some money on insurance. Having a spouse demonstrates that you tend to be more stable financially and insurance companies reward insureds because drivers who are married are more cautious.
- Big cities mean more claims – Residing in smaller towns and rural areas of the country has definite advantages when shopping for auto insurance. City drivers tend to have more auto accidents and more time behind the wheel. Less people living in that area means a lower chance of having an accident and a lower car theft rate.
- Vehicles with better crash test results are cheaper to insure – Cars with five star safety ratings can get you lower premiums. Vehicles engineered for safety reduce the chance of injuries and fewer serious injuries means lower claim amounts which can result in lower premiums.
- Cheaper premiums using GPS tracking and theft deterrents – Selecting a car model that has a built-in theft deterrent system can help lower your rates. Anti-theft features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all help prevent car theft and help bring rates down.
- Too many policy claims drive up premiums – If you frequently file small claims, you can expect either policy cancellation or increased premiums. Auto insurance companies in Tennessee give the lowest premiums to policyholders who do not rely on their insurance for small claims. Your insurance policy is intended for more catastrophic claims.
- Always keep your insurance policy in force – Allowing your coverage to lapse will be a fast way to increase your renewal premiums. In addition to paying higher rates, getting caught without coverage will get you a steep fine or even jail time.
- Rental and towing coverage may not be needed – There are a lot of optional add-on coverages that sound like a good idea at the time when buying insurance. Things like rental car reimbursement, high-cost glass coverage, and Farm Bureau memberships may not be needed and are just wasting money. These coverages may sound good when talking to your agent, but if you have no use for them eliminate the coverages to reduce your premium.
- Liability protection limits should be high – Liability insurance will provide protection if a jury decides you are liable for an accident. It will provide you with a defense in court which can cost a lot. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
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Insurance losses for a Ford Taurus – Companies factor in historical loss data when they file their rates in each state. Models that are shown to have higher claim amounts or frequency will have higher rates. The table below illustrates the historical insurance loss data for Ford Taurus vehicles.
For each coverage type, the claim probability for all vehicles as a whole is represented as 100. Percentage numbers below 100 indicate a favorable loss history, while numbers shown that are more than 100 indicate higher probability of having a loss or an increased likelihood of larger losses.
Ford Taurus Insurance Loss Statistics Specific Ford Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Ford Taurus 2WD 109 88 134 115 115 101 Ford Taurus 4WD 120 78 141 124 Ford Taurus SHO 4WD 143 96 185 84 103 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Three good reasons to insure your Ford vehicle
Despite the high cost of buying insurance for a Ford Taurus in Memphis, paying for auto insurance may be required and benefits you in several ways.
First, the majority of states have mandatory liability insurance requirements which means you are required to buy a specific minimum amount of liability insurance coverage in order to drive the car. 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.
Second, if you have a loan on your Taurus, it’s most likely the lender will stipulate that you buy full coverage to ensure they get paid if you total the vehicle. If the policy lapses, the lender will be forced to insure your Ford at a much higher rate and force you to pay for it.
Third, auto insurance preserves not only your Ford Taurus but also your financial assets. It will also provide coverage for hospital and medical expenses incurred in an accident. Liability coverage will also pay attorney fees if someone files suit against you as the result of an accident. If your Ford gets damaged, your policy will pay to repair the damage.
The benefits of buying auto insurance greatly outweigh the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver is currently overpaying as much as $800 each year so we recommend shopping around at every policy renewal to be sure current rates are still competitive.
Don’t give up on cheaper rates
In this article, we covered many ideas to get a better price on Ford Taurus insurance in Memphis. The key thing to remember is the more quotes you get, the higher the chance of saving money. You may even discover the best price on insurance is with a smaller regional carrier.
Drivers switch companies for a variety of reasons including extreme rates for teen drivers, questionable increases in premium, being labeled a high risk driver or even an unsatisfactory settlement offer. Whatever your reason, choosing a new insurance company is not as hard as you think.
Budget-conscious Ford Taurus insurance can be purchased from both online companies as well as from insurance agents, and you should compare price quotes from both to get a complete price analysis. Some companies may not have online rate quotes and these smaller providers provide coverage only through independent agents.
Even more information is located in the articles below:
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for Teenage Males in Memphis? (FAQ)
- Who Has Cheap Memphis Car Insurance for Ride Shares? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Dodge Ram in Memphis? (FAQ)
- How Much is Memphis Auto Insurance for a Company Car? (FAQ)
- What Auto Insurance is Cheapest for Retired Military in Memphis? (FAQ)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Drunk Driving Statistics (Insurance Information Institute)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)