Are you irritated from not being able to afford each month for auto insurance? You are in the same boat as millions of other consumers.
Smart shoppers know that auto insurance companies don’t want you to look at other companies. Drivers who shop around for cheaper prices will, in all likelihood, buy a different policy because the odds are good of finding good coverage at a lower price. A recent survey discovered that people who compared prices regularly saved approximately $865 annually compared to people who never shopped for cheaper rates.
If finding the cheapest price for Ford Escape insurance is why you’re here, then knowing the best way to quote and compare insurance can help you be more efficient. Due to the abundance of choices for buying affordable insurance for a Ford Escape in Lexington, it can be impossible to pick the best auto insurance company.
It’s a good idea to check auto insurance prices before your next renewal because rates change quite often. Just because you had the best rate on Ford Escape insurance in Lexington a few years ago you can probably find a better price now. Block out anything you think you know about auto insurance because you’re going to learn the proper way to properly buy coverages and cut your premium.
The companies shown below provide comparison quotes in Lexington, KY. If multiple companies are listed, we recommend you visit two to three different companies in order to get a fair rate comparison.
Analysis of coverages
The table displayed below covers detailed analysis of insurance coverage prices for Ford Escape models. Having insight into how auto insurance prices are determined can be valuable when making smart policy decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Escape XLS 2WD||$178||$282||$278||$16||$84||$838||$70|
|Escape XLS 4WD||$178||$282||$278||$16||$84||$838||$70|
|Escape XLT 2WD||$178||$282||$278||$16||$84||$838||$70|
|Escape Limited 2WD||$206||$282||$278||$16||$84||$866||$72|
|Escape XLT 4WD||$206||$282||$278||$16||$84||$866||$72|
|Escape Limited 4WD||$206||$342||$278||$16||$84||$926||$77|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Prices do not factor in the specific area where the vehicle is garaged which can alter insurance rates noticeably.
The information below illustrates how your choice of deductibles and can influence Ford Escape insurance premiums for different ages of insureds. The data assumes a married female driver, full coverage, and no other discounts are factored in.
How careless driving impacts car insurance rates
The example below illustrates how violations and fender-benders can increase Ford Escape insurance rates for different insured age categories. The premiums assume a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are factored in.
Age-based car insurance rates by gender
The illustration below illustrates the difference between Ford Escape insurance rates for male and female drivers. The information is based on no accidents or driving violations, full coverage, $250 deductibles, marital status is single, and no discounts are applied to the premium.
Comparison of full coverage and liability-only policies
The information below shows the difference between Ford Escape car insurance costs when comparing full coverage to liability only. The premiums are based on no violations or claims, $100 deductibles, drivers are single, and no policy discounts are applied.
When to switch to liability coverage only
There is no specific rule to drop full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s say your Ford Escape settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would receive is $6,000 after you pay the deductible. If you are paying more than $600 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are a few cases where dropping full coverage is not in your best interest. If you still owe money on your vehicle, 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 the event your current vehicle is totaled, you should not drop full coverage.
Why you need to buy car insurance
Despite the fact that car insurance is not cheap in Lexington, maintaining insurance is required by state law in Kentucky and it also provides benefits you may not be aware of.
- Most states have minimum mandated liability insurance limits which means state laws require specific limits of liability insurance in order to get the vehicle licensed. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your Ford with a loan, almost every bank will require that you have physical damage coverage to guarantee payment of the loan. If the policy lapses, the bank may buy a policy for your Ford at a much higher rate and force you to pay much more than you were paying before.
- Car insurance protects not only your car but also your assets. Insurance will also pay for medical transport and hospital expenses for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also covers legal expenses if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of having insurance more than cancel out the cost, particularly for liability claims. According to a recent study, the average American driver overpays as much as $869 every year so compare rate quotes each time the policy renews to help ensure money is not being wasted.
Get cheaper Ford Escape insurance in Lexington with discounts
Insurance can cost an arm and a leg, but you can get discounts to reduce the price significantly. Some discounts will apply at quote time, but a few must be manually applied before they will apply. If you’re not getting every credit you deserve, you are just wasting money.
- College Student Discount – Any of your kids who live away from home to go to college and do not have a car may be insured at a cheaper rate.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle up can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Online Discount – A few car insurance companies will discount your bill up to fifty bucks for signing up over the internet.
- Driver’s Education for Students – Make teen driver coverage more affordable by requiring them to enroll and complete driver’s education in high school.
- Passive Restraints – Factory options such as air bags or automatic seat belts may get savings of up to 25% or more.
A little note about advertised discounts, most of the big mark downs will not be given to the whole policy. Most cut the cost of specific coverages such as medical payments or collision. So even though it sounds like you could get a free car insurance policy, it’s just not the way it works.
The chart below visualizes the comparison of Ford Escape insurance costs with and without discounts applied to the rates. The premiums are based on a female driver, no driving violations, no at-fault accidents, Kentucky 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 claim-free, homeowner, multi-car, multi-policy, marriage, and safe-driver discounts applied.
A list of companies and a partial list of their discounts can be read below.
- GEICO has savings for military active duty, anti-lock brakes, membership and employees, defensive driver, and seat belt use.
- SAFECO offers premium reductions for anti-lock brakes, accident prevention training, bundle discounts, multi-car, anti-theft, and teen safe driver.
- State Farm may include discounts for passive restraint, Steer Clear safe driver discount, safe vehicle, good student, and defensive driving training.
- MetLife has discounts for claim-free, accident-free, multi-policy, defensive driver, and good student.
- 21st Century may have discounts that include driver training, defensive driver, theft prevention, student driver, air bags, and anti-lock brakes.
- Progressive offers discounts including online quote discount, online signing, multi-policy, multi-vehicle, good student, continuous coverage, and homeowner.
When comparing rates, check with each insurance company how many discounts you can get. Some discounts may not be offered in your area. To choose providers who offer cheap Ford Escape insurance quotes in Kentucky, click here.
Are car insurance agents of importance?
Some consumers prefer to sit down and talk to an agent and that can be a great decision Good agents will help you protect your assets and help in the event of a claim. The best thing about comparing rates online is that you can find cheaper rates and still have an agent to talk to. Buying from and supporting neighborhood agents is definitely important in Lexington.
For easy comparison, once you complete this simple form, your information is sent to insurance agents in Lexington who will give you bids and help you find cheaper coverage. There is no reason to search for an agent since rate quotes are delivered to the email address you provide. If you wish to quote rates for a specific company, you would need to jump over to their website and give them your coverage information.
Exclusive agents vs. Independent agents
If you want to buy car insurance from a reliable insurance agency, it’s helpful to know the different types of agencies and how they operate. Agents are categorized either exclusive or independent (non-exclusive). Either one can write car insurance policies, but it’s a good idea to understand the difference in the companies they write for since it may influence buying decisions.
Independent Car Insurance Agencies
These agents often have many company appointments so they have the ability to put coverage with multiple insurance companies and find you cheaper rates. If you want to switch companies, they simply move your policy to a different company and the insured can keep the same agent.
When comparing car insurance prices, you absolutely need to include rate quotes from at a minimum one independent agency to ensure the widest selection of prices.
Listed below is a list of independent insurance agents in Lexington that can give you price quotes.
Nationwide Insurance: Tim Hamilton Insurance Agency Inc
401 Lewis Hargett Cir #130 – Lexington, KY 40503 – (859) 276-1234 – View Map
Nicole Wright Insurance Agency
169 E Reynolds Rd #102 – Lexington, KY 40517 – (859) 971-0221 – View Map
These agents can usually just insure with one company and examples are Farmers Insurance or State Farm. These agents are unable to provide prices from multiple companies so they have no alternatives for high prices. They receive a lot of sales training on their company’s products which aids in selling service over price.
Listed below are exclusive insurance agencies in Lexington who can help you get rate quotes.
Finding a good insurance agency requires more thought than just the price. Below are some questions you should ask.
- Is the agent and/or agency licensed to do business in Kentucky?
- How does the company pay claims for a total loss?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Is there a local claims center in Lexington?
- Can glass claims be handled at your home?
- What insurance companies do they work with in Lexington?
- If you have an accident, will your rates go up?
- How many years have they been established?
Ratings for Lexington auto insurance companies
Selecting the top insurance company can be challenging considering how many different companies there are to choose from in Kentucky. The company ratings listed below can help you decide which providers to look at purchasing from.
Top 10 Lexington Car Insurance Companies Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- AAA Insurance
- The Hartford
Top 10 Lexington Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
- The Hartford – 87%
Coverages available on your policy
Understanding the coverages of a car insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. Policy terminology can be confusing and nobody wants to actually read their policy. Below you’ll find the normal coverages available from car insurance companies.
Collision coverage – This will pay to fix damage to your Escape resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision insurance covers claims like sideswiping another vehicle, colliding with a tree, hitting a parking meter, sustaining damage from a pot hole and colliding with another moving vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Drivers also have the option to increase the deductible on your Escape to bring the cost down.
Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as damage to your Ford Escape.
Since a lot of drivers have only the minimum liability required by law (Kentucky limits are 25/50/10), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Normally your uninsured/underinsured motorist coverages are set the same as your liability limits.
Auto liability – This will cover damages or injuries you inflict on other’s property or people that is your fault. This coverage protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 25/50/10 that means you have a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and property damage coverage for $10,000. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.
Liability can pay for claims such as legal defense fees, medical expenses, repair costs for stationary objects, repair bills for other people’s vehicles and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford. Kentucky requires minimum liability limits of 25/50/10 but you should think about purchasing more coverage.
The next chart shows why buying low liability limits may not be adequate.
Comprehensive coverages – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims like hitting a bird, hail damage, a broken windshield and damage from flooding. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Coverage for medical payments – Coverage for medical payments and/or PIP provide coverage for immediate expenses like prosthetic devices, chiropractic care, surgery, funeral costs and doctor visits. They are used to fill the gap from your health insurance policy or if you do not have health coverage. It covers not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP coverage is only offered in select states and may carry a deductible
Compare but don’t skimp
In this article, we covered some good ideas how to save on Ford Escape insurance in Lexington. The key thing to remember is the more providers you compare, the better likelihood of getting inexpensive Lexington car insurance quotes. You may even be surprised to find that the most savings is with a company that doesn’t do a lot of advertising. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as Allstate, GEICO and Progressive.
Cheaper auto insurance in Lexington is attainable from both online companies and with local Lexington insurance agents, and you should be comparing both to have the best selection. Some auto insurance companies may not provide internet price quotes and many times these regional insurance providers only sell through independent agents.
Steps to finding better rates for Ford Escape insurance in Lexington
The best way we recommend to get the cheapest Ford Escape insurance in Lexington is to compare quotes once a year from insurers who provide auto insurance in Kentucky.
- Step 1: Try to comprehend coverages and the things you can change to prevent rate increases. Many rating criteria that cause high rates like speeding tickets, accidents and a lousy credit rating can be amended by making minor changes to your lifestyle.
- Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or Allstate, while independent agents can provide price quotes from multiple sources.
- Step 3: Compare the new rate quotes to the premium of your current policy to see if cheaper Escape coverage is available in Lexington. If you find a lower rate and make a switch, verify that coverage does not lapse between policies.
- Step 4: Provide written notification to your current company of your intention to cancel your current car insurance policy. Submit payment along with a signed and completed policy application to your new agent or company. As soon as you receive it, place your new certificate verifying proof of insurance with the vehicle registration.
An important note is to try to use the same amount of coverage on every price quote and and to look at as many auto insurance providers as possible. This guarantees the most accurate price comparison and maximum price selection.
To learn more, take a look at the articles below:
- Side Impact Crash Tests (iihs.org)
- Who Has Affordable Auto Insurance for College Graduates in Lexington? (FAQ)
- What Insurance is Cheapest for Teenage Females in Lexington? (FAQ)
- What Car Insurance is Cheapest After a Speeding Ticket in Lexington? (FAQ)
- Who Has Affordable Car Insurance Rates for a Ford Explorer in Lexington? (FAQ)
- Who Has the Cheapest Lexington Auto Insurance for a Dodge Grand Caravan? (FAQ)
- Collision Coverage (Liberty Mutual)
- How do I File a Claim? (Insurance Information Institute)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)