Save Money on Ford Flex Insurance in Lexington

It’s safe to conclude that auto insurance companies want to keep you from shopping around. Consumers who shop around for the cheapest price are very likely to buy a new policy because there is a good probability of finding more affordable rates. A study discovered that drivers who routinely compared rates saved on average $3,450 over four years as compared to drivers who never compared other company’s rates.

If saving money on insurance in Lexington is your ultimate objective, then having an understanding of how to choose a company and compare insurance premiums can save time and make the process easier.

Insurance rates Ford Flex in LexingtonThe easiest way to find affordable auto insurance rates in Lexington is to begin comparing prices regularly from providers who can sell car insurance in Kentucky.

  1. Spend a few minutes and learn about policy coverages and the changes you can make to prevent rate increases. Many things that result in higher prices such as accidents, traffic violations, and an unacceptable credit rating can be controlled by making minor changes in your lifestyle. Continue reading for more details to get cheaper rates and earn a bigger discount.
  2. Request rate estimates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only quote rates from one company like GEICO and Allstate, while independent agents can quote rates from multiple companies.
  3. Compare the new rate quotes to your current policy to see if cheaper Flex coverage is available. If you can save money and decide to switch, make sure there is no coverage gap between policies.
  4. Provide written notification to your current company of your decision to cancel your current policy. Submit the completed application along with a down payment to the newly selected company. Make sure you place the new proof of insurance paperwork along with the vehicle’s registration papers.

An essential thing to point out is to make sure you’re comparing identical limits and deductibles on each price quote and and to get quotes from as many companies as feasibly possible. Doing this helps ensure a fair price comparison and maximum price selection.

Locating the most cost-effective auto insurance policy in Lexington is actually quite easy if you know where to start. If you already have coverage or just want to save money, you can use these tips to cut your premiums and still get good coverage. Smart buyers just need to use the proper way to compare price quotes from many companies at once.

The following companies provide price quotes in Kentucky. If multiple companies are listed, it’s highly recommended you visit two to three different companies to get a more complete price comparison.

Lexington insurance discounts for a Ford Flex

Auto insurance companies don’t list every possible discount in a way that’s easy to find, so below is a list a few of the more well known and also the more inconspicuous savings tricks you should be using when you buy Lexington auto insurance online.Cheaper insurance with discounts

Discounts reduce rates, but you should keep in mind that some of the credits will not apply to all coverage premiums. Most cut individual premiums such as liability, collision or medical payments. If you do the math and it seems like all those discounts means the company will pay you, companies don’t profit that way. Any qualifying discounts will help reduce your insurance premiums.

The chart below illustrates the comparison of Ford Flex car insurance rates with and without discounts being applied to the rates. The prices are based on a female driver, no accidents, no driving violations, Kentucky state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, safe-driver, multi-policy, claim-free, and multi-car discounts applied.

Car insurance companies that may offer policyholders many of the previously listed discounts include:

Before buying, ask every prospective company what discounts are available to you. Some credits may not apply to policyholders in your state. If you would like to choose from a list of providers with the best discounts in Lexington, click this link.

Data for Ford Flex insurance

The price information shown below outlines different insurance rates for Ford Flex models. Having insight into how insurance quotes are established is important for making informed decisions.

Ford Flex Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Flex SE 2WD $288 $466 $336 $20 $100 $1,210 $101
Flex SEL 2WD $288 $550 $336 $20 $100 $1,294 $108
Flex SEL AWD $322 $550 $336 $20 $100 $1,328 $111
Flex Limited 2WD $322 $550 $336 $20 $100 $1,328 $111
Flex Limited AWD $322 $550 $336 $20 $100 $1,328 $111
Get Your Own Custom Quote Go

Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Rate quotes do not factor in garaging location in Lexington which can decrease or increase price quotes noticeably.

Policy deductible comparison

One common question asked by Lexington drivers is how low should you set your deductibles. The following tables determine the premium difference when you select higher and lower comp and collision deductibles. The first set of rates uses a $250 deductible for physical damage and the second data table uses a $1,000 deductible.

Ford Flex insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Flex SE 2WD $284 $426 $326 $20 $98 $1,179 $98
Flex SEL 2WD $284 $500 $326 $20 $98 $1,253 $104
Flex SEL AWD $318 $500 $326 $20 $98 $1,287 $107
Flex Limited 2WD $318 $500 $326 $20 $98 $1,287 $107
Flex Limited AWD $318 $500 $326 $20 $98 $1,287 $107
Get Your Own Custom Quote Go

Ford Flex insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Flex SE 2WD $176 $268 $326 $20 $98 $888 $74
Flex SEL 2WD $176 $316 $326 $20 $98 $936 $78
Flex SEL AWD $196 $316 $326 $20 $98 $956 $80
Flex Limited 2WD $196 $316 $326 $20 $98 $956 $80
Flex Limited AWD $196 $316 $326 $20 $98 $956 $80
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Premium amounts do not factor in specific location information which can influence auto insurance rates considerably.

Using the data above, we can ascertain that using a $250 deductible will cost you approximately $27 more each month or $324 each year averaged for all Flex models than buying the higher $1,000 deductible. Since the policyholder would be required to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you normally average at least 28 months between claim filings, you would save more money going with the higher deductible. The table below shows how you can decide this on your own policy.

Average monthly premium for $250 deductibles: $105
Average monthly premium for $1,000 deductibles (subtract): – $78
Monthly savings from raising deductible: $27
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $27
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 28 months

One important caveat is that raising deductibles to get cheaper rates means you will have to pay more of your own money when you have a claim. That will require access to more funds in the event you have to pay the deductible.

The diagram below illustrates how your choice of deductibles and can change Ford Flex premium costs for different ages of insureds. The data is based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Difference between liability only and full coverage rates

The diagram below compares Ford Flex auto insurance rates when comparing full coverage to liability only. The costs are based on a clean driving record, no claims, $100 deductibles, drivers are not married, and no policy discounts are applied.

When to switch to liability coverage only

There is no exact rule to drop physical damage coverage, but there is a guideline you can use. If the yearly cost of full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

For example, let’s say your Ford Flex 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 the deductible is paid. If you are paying in excess of $800 annually for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.

There are some scenarios where only buying liability is not advised. 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 you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.

Ford Flex Insurance Rate Factors

When buying auto insurance it’s important to understand some of the things that help determine the rates you pay for auto insurance. If you have some idea of what determines premiums, this helps enable you to make changes that will entitle you to much lower annual insurance costs. Lots of things are taken into consideration when quoting car insurance. Some are pretty understandable like your driving record, but some are not as apparent such as your credit history or your financial responsibility.

Save money with alarm systems – Choosing to buy a car with anti-theft technology or alarm system can help bring down rates. Advanced theft deterrents like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder auto theft.

Allowing your auto insurance to lapse raises prices – Letting your insurance expire is a fast way to increase your renewal premiums. And not only will insurance be more expensive, getting caught without coverage can result in fines and jail time.

Five star safety rating saves money – Safe vehicles get lower rates. These vehicles help reduce the chance of injuries in an accident and fewer injuries means less claims paid and thus lower rates. If your Ford Flex earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may cost less to insure.

Insure your auto and home with one company – Many insurers allow a discount to clients who carry more than one policy. It’s known as a multi-policy discount. The discount can add up to as much as ten percent or more Even though this discount sounds good, drivers will still want to compare Ford Flex rates in Lexington to help ensure you have the lowest rates.

Driving citations will cost you – Good drivers receive lower rates as compared to those with violations. Having just one moving violation can increase rates by twenty percent. People who have serious violations like hit and run, DWI or reckless driving convictions may find that they have to to prove financial responsibility to the state department of motor vehicles in order to keep their license.

The illustration below highlights how traffic violations and accidents drive up Ford Flex yearly insurance costs for each different age category. The rates are based on a single male driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.

Low stress vocation equals lower rates – Did you know your career choice can influence rates? Jobs like military generals, architects, and medical professionals tend to pay higher rates than average because of intense work situations and lots of time spent at work. Conversely, jobs like scientists, engineers and the unemployed have lower than average premiums.

Is your car, truck or SUV built for speed? – The performance of the car, truck or SUV you need insurance for makes a substantial difference in your rates. The lowest performance passenger vehicles receive the most favorable rates, but many other things help determine your insurance rates.

The following chart is based on a single male driver age 20, full coverage with $500 deductibles, and no discounts or violations. The data compares Ford Flex rates compared to other models that have different performance risks.

High credit scores save money – Having a bad credit history will be a significant factor in determining what you pay for auto insurance. Consumers who have excellent credit scores tend to be better risks to insure as compared to drivers with worse credit. So if your credit history can be improved, you could potentially save money when insuring your Ford Flex if you improve your credit rating.

Loss probability for a Ford Flex – Car insurance companies use claims history when setting premium rates. Models that the statistics show to have higher losses will have a higher cost to insure. The table shown below demonstrates the loss history for Ford Flex vehicles.

For each type of coverage, the claim probability for all vehicles combined as an average equals 100. Numbers under 100 represent a good loss history, while values that are 100 or greater indicate higher probability of having a loss or statistically larger claims.

Insurance Loss Ratings for Ford Flex Vehicles
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Ford Flex 4dr 2WD 89 84 107 91 100 87
Ford Flex 4dr 4WD 105 84 119 77 79 75

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years