Cheapest Rate Quotes for Ford Expedition Insurance in Memphis

It’s hard to believe, but about 70% of customers kept buying from the same company for four years or more, and about 40% of consumers have never compared rates to find cheaper insurance. American consumers could cut their rates by about 47% a year just by shopping around, but they just don’t want to save money by comparing rate quotes.

It takes a few minutes, but the best way to get low-cost Ford Expedition insurance in Memphis is to do an annual price comparison from companies who sell insurance in Tennessee.

Step 1: Get a basic knowledge of how companies set rates and the steps you can take to prevent high rates. Many things that increase rates such as accidents, careless driving, and a low credit rating can be improved by making minor changes in your lifestyle. Read the full article for ideas to get low prices and find overlooked discounts.

Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from one company like GEICO or Allstate, while agents who are independent can provide prices for a wide range of insurance providers. Select a company

Step 3: Compare the new rate quotes to the price on your current policy and determine if there is any savings. If you find better rates, make sure there is no lapse in coverage.

Step 4: Provide written notification to your current company of your intention to cancel your current auto insurance policy and submit the required down payment along with the signed application for your new policy. As soon as you can, place your new certificate verifying coverage above your visor, in the console, or in the glove compartment.

A key point to remember is to make sure you enter identical limits and deductibles on every quote and and to get rates from all possible companies. Doing this helps ensure an apples-to-apples comparison and the best price selection.

Car insurance rates and discounts

Companies that sell car insurance don’t always publicize every discount they offer very well, so we researched both well-publicized as well as the least known discounts that you may qualify for. If you are not receiving all the discounts you deserve, you could be getting lower rates.

• Discount for Swiching Early – Select insurance companies give a discount for signing up early. Ten percent is about the average savings.
• Distant Student – Youth drivers who live away from home at college and do not take a car to college can receive lower rates.
• Save with a New Car – Buying a new car model can be considerably cheaper because new model year vehicles keep occupants safer.
• Early Payment Discounts – If you pay your bill all at once instead of monthly or quarterly installments you can avoid monthly service charges.
• Military Rewards – Being on active deployment in the military can result in better prices.
• Include Life Insurance and Save – If the company offers life insurance, you could get a break if you buy a life insurance policy as well.
• Student Discounts – Maintaining excellent grades may save you up to 25%. Earning this discount can benefit you up to age 25.
• Seat Belts Save – Forcing all vehicle occupants to use their safety belts could save 15% off PIP or medical payments premium.

Remember that some credits don’t apply to the entire cost. A few only apply to specific coverage prices like collision or personal injury protection. Despite the fact that it seems like adding up those discounts means a free policy, companies don’t profit that way.

The illustration below visualizes the comparison of Ford Expedition yearly insurance costs with and without discounts. The rates are based on a male driver, no claims or driving violations, Tennessee state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, marriage, multi-policy, multi-car, and safe-driver discounts applied.

Companies that may include some of the above discounts include:

• State Farm
• GEICO
• Liberty Mutual
• The Hartford
• MetLife
• Progressive

Double check with each company what discounts are available to you. Some discounts might not be offered on policies in Memphis. If you would like to view companies that have a full spectrum of discounts in Memphis, click this link.

When shopping for the cheapest Ford Expedition rate quotes, there are a couple of ways of comparing rate quotes from local Memphis auto insurance companies. The easiest way to find competitive Ford Expedition insurance rates is to use the internet to compare rates.

Doing price comparisons online is so simple that it takes the place of having to drive around to different agent offices. The ability to quote Ford Expedition insurance online reduces the need to sit down with an agent unless you’re the type of person who wants the personal advice that can only be provided by a licensed insurance agent. Some companies do allow you to get the lowest quotes online but buy from a local insurance agent. Just remember that comparing all the rates in your area will enable you to find more affordable rates.

The providers in the list below have been selected to offer price quotes in Memphis, TN. If you wish to find cheap auto insurance in Memphis, TN, we recommend you visit as many as you can to get a more complete price comparison.

Insurance statistics and figures

The rate information displayed next highlights estimates of coverage prices for Ford Expedition models. Learning a little about how auto insurance policy rates are formulated can benefit drivers when making smart choices when comparing insurance rates.

Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Information does not factor in vehicle location which can increase or decrease coverage prices noticeably.

Policy deductible comparison

The hardest decision when buying coverage is where to set your physical damage deductibles. The data tables below may aid in understanding the premium difference when you choose different coverage deductibles. The first price estimate table uses a $250 deductible and the second set of rates uses a $1,000 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate quotes do not factor in vehicle garaging location which can alter rates considerably.

We can derive from the above data that using a $250 deductible could cost the average driver approximately $22 more each month or $264 annually than quoting 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 tend to average more than 34 months between claim filings, you would save more money going with the higher deductible.

Cost comparison with and without full coverage

The illustration below shows the comparison of Ford Expedition car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The costs are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are applied to the premium.

When to switch to liability coverage only

There is no clear-cut rule for excluding physical damage coverage, but there is a guideline you can use. If the annual cost of having full coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s assume your Ford Expedition book value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after the deductible is paid. If premiums are more than $500 a year for full coverage, then it might be time to consider dropping full coverage.

There are some conditions where dropping full coverage is not in your best interest. If you still owe money on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should maintain full coverage.

Comparing prices from local Memphis insurance agencies

Many drivers still prefer to sit down and talk to an agent and that is OK! An additional benefit of getting free rate quotes online is the fact that you can find cheap rate quotes and also buy local. Supporting local insurance agents is definitely important in Memphis.

After completing this form (opens in new window), the quote information is sent to local insurance agents in Memphis who will gladly provide quotes for your insurance coverage. There is no reason to find an agent on your own because prices are sent to you. It’s the lowest rates without having to waste a lot of time. If you wish to compare rates from a specific insurance company, just jump over to their website and give them your coverage information.

Below are agents in Memphis that can give you price quotes for Ford Expedition insurance in Memphis.

View more agents

Selecting an insurer is decision based upon more than just the bottom line cost. These are some valid questions you should ask.

• Do they have designations such as AIC, CPCU, or CIC?
• Are they properly licensed to sell insurance in Tennessee?
• Which companies do they recommend if they are an independent agency?
• What discounts might you be missing?
• Does the agency support the community they serve?

Information about specific coverages

Learning about specific coverages of insurance can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and reading a policy is terribly boring. Shown next are the usual coverages offered by insurance companies.

Liability coverages

Liability insurance will cover damages or injuries you inflict on other’s property or people. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 25/50/15 which stand for a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $15,000. Occasionally you may see a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage protects against claims like medical expenses, legal defense fees and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but you should buy as large an amount as possible. Tennessee state law requires minimum liability limits of 25/50/15 but you should consider buying better liability coverage.

The illustration below shows why buying minimum limits may not be adequate coverage.

Collision insurance

This will pay to fix damage to your Expedition resulting from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage pays for things like scraping a guard rail, backing into a parked car, sideswiping another vehicle, hitting a mailbox and colliding with a tree. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also bump up the deductible on your Expedition in order to get cheaper collision rates.

Comprehensive or Other Than Collision

This coverage covers damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things such as vandalism, damage from a tornado or hurricane, theft, a tree branch falling on your vehicle and a broken windshield. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Medical costs insurance

Coverage for medical payments and/or PIP reimburse you for bills like dental work, ambulance fees, pain medications, chiropractic care and X-ray expenses. The coverages can be utilized in addition to your health insurance program or if you do not have health coverage. They cover both the driver and occupants in addition to getting struck while a pedestrian. PIP is not an option in every state and may carry a deductible

UM/UIM Coverage

This provides protection from other drivers when they do not carry enough liability coverage. This coverage pays for injuries to you and your family and also any damage incurred to your Ford Expedition.

Due to the fact that many Tennessee drivers only carry the minimum required liability limits (which is 25/50/15), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Quote. Compare. Save.

You just read a lot of information how to lower your Ford Expedition insurance prices in Memphis. The most important thing to understand is the more quotes you get, the better likelihood of getting affordable Ford Expedition insurance quotes. Drivers may even discover the lowest prices are with some of the lesser-known companies. These companies can often provide lower rates in certain areas than their larger competitors like Progressive and GEICO.

When getting Memphis auto insurance quotes online, you should never sacrifice coverage to reduce premiums. In many cases, drivers have reduced collision coverage to discover at claim time that it was a big error on their part. The proper strategy is to find the BEST coverage at the best possible price while still protecting your assets.

To learn more, feel free to visit the articles below:

• Five Tips to Save on Auto Insurance (Insurance Information Institute)
• Who Has Affordable Auto Insurance Quotes for High Mileage Drivers in Memphis? (FAQ)
• Who Has Affordable Car Insurance Rates for Drivers with a DUI in Memphis? (FAQ)
• Who Has Affordable Car Insurance Quotes for a Toyota Tacoma in Memphis? (FAQ)
• How Much is Memphis Car Insurance for Hybrid Vehicles? (FAQ)
• How Much Auto Coverage do I Need? (Insurance Information Institute)
• What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
• Protect Yourself Against Auto Theft (Insurance Information Institute)
• Automakers compete to add autobraking (Insurance Institute for Highway Safety)