Feeling guilty for buying an underperforming, overpriced auto insurance policy? Trust us when we tell you you are not the only one feeling buyer's remorse.
Inconceivable but true, most drivers have been with the same company for four years or more, and 38% of customers have never even compared quotes to find affordable rates. Minneapolis drivers could save as much as 50% every year by just comparing rate quotes, but they don't know how much they could save if they replace their high priced policy. Due to the abundance of insurance providers from which to choose, it is hard for the average consumer to find the lowest cost auto insurance provider.
Low-cost Ford insurance prices in Minneapolis
The following companies offer quotes in Minnesota. If several companies are displayed, it's highly recommended you compare several of them in order to find the most competitive rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Escape XLS 2WD||$238||$406||$270||$16||$80||$1,010||$84|
|Escape XLS 4WD||$174||$274||$270||$16||$80||$814||$68|
|Escape XLT 2WD||$150||$268||$284||$16||$84||$802||$67|
|Escape Limited 2WD||$152||$214||$270||$16||$80||$732||$61|
|Escape XLT 4WD||$240||$390||$326||$20||$98||$1,074||$90|
|Escape Limited 4WD||$212||$420||$258||$16||$78||$984||$82|
|Get Your Own Custom Quote Go|
Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in Minneapolis location which can increase or decrease coverage rates greatly.
Premiums by gender and age
The diagram below illustrates the comparison of Ford Escape auto insurance rates for male and female drivers. The premiums are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, marital status is single, and no other discounts are factored in.
Ford Escape full coverage rates compared to liability only
The information below illustrates the difference between Ford Escape premium costs with and without full coverage. The rates are based on no accidents or driving violations, $1,000 deductibles, single male driver, and no discounts are factored in.
When to drop full coverage
There is no specific rule to stop buying full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is about 10% or more of replacement cost minus your deductible, then you might consider buying liability only.
For example, let's pretend your Ford Escape book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $4,000 after the policy deductible has been paid. If it's costing in excess of $400 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are a few cases where dropping full coverage is not a good idea. If you still owe a portion of the original loan, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Minneapolis insurance discounts
Companies that sell car insurance do not advertise the entire discount list very clearly, so here is a list a few of the more well known and also the lesser-known credits available to bring down your rates.
- Anti-theft Discount - Anti-theft and alarm system equipped vehicles are less likely to be stolen and earn discounts up to 10% off your Minneapolis auto insurance quote.
- Own a Home - Just being a homeowner may trigger a policy discount on insurance due to the fact that maintaining a home shows financial diligence.
- 55 and Retired - Drivers over the age of 55 can possibly qualify for a slight reduction on a Minneapolis auto insurance quote.
- Telematics Devices - Insureds that choose to allow data collection to scrutinize driving habits by installing a telematics device such as Progressive's Snapshot and State Farm's In-Drive might get better premium rates as long as they are good drivers.
- Military Discounts - Being on active duty in the military may lower your premium rates slightly.
- Multiple Vehicles - Drivers who insure primary and secondary vehicles with one company qualifies for this discount.
Drivers should understand that many deductions do not apply to the whole policy. The majority will only reduce the cost of specific coverages such as comprehensive or collision. Even though it appears all those discounts means the company will pay you, you're out of luck.
Companies and their offered discounts are shown below.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, safe vehicle, good driver, accident-free, and multiple policy.
- Farmers Insurance has discounts for pay in full, mature driver, alternative fuel, distant student, homeowner, and youthful driver.
- Progressive may include discounts for multi-policy, online quote discount, continuous coverage, online signing, homeowner, multi-vehicle, and good student.
- GEICO discounts include multi-policy, good student, multi-vehicle, federal employee, anti-lock brakes, seat belt use, and daytime running lights.
- Auto-Owners Insurance offers discounts including student away at school, good student, company car, group or association, air bags, and safe driver.
- The Hartford may have discounts that include good student, vehicle fuel type, driver training, air bag, defensive driver, bundle, and anti-theft.
- Farm Bureau offers discounts for 55 and retired, multi-vehicle, good student, driver training, safe driver, and multi-policy.
- USAA offers premium reductions for multi-policy, vehicle storage, good student, defensive driver, and safe driver.
When getting a coverage quote, ask each insurance company the best way to save money. Some of the discounts discussed earlier may not be available in every state. For a list of companies who offer cheap Ford Escape insurance quotes in Minnesota, click here to view.
It's not one size fits all
When selecting coverage for your vehicles, there really isn't a perfect coverage plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. Here are some questions about coverages that can help discover if your situation could use an agent's help.
- How much coverage applies to personal belongings?
- What is PIP insurance?
- Will my Ford Escape be repaired with OEM or aftermarket parts?
- What happens if I owe more than my Ford Escape is worth?
- Am I covered if I hit a deer?
- What can I do if my company denied a claim?
- Can I afford low physical damage deductibles?
- Can I pay claims out-of-pocket if I buy high deductibles?
- Do they offer discounts for home and auto coverage?
- When does my teenage driver need to be added to my policy?
If you don't know the answers to these questions but you know they apply to you, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies. It only takes a few minutes and may give you better protection.
Comparing prices from local Minneapolis car insurance agents
A lot of people prefer to sit down and talk to an agent and doing that can be a smart decision Professional agents will help you protect your assets and help file insurance claims. An additional benefit of comparing insurance prices online is the fact that drivers can get cheaper rates and still choose a local agent. Putting coverage with neighborhood agents is definitely important in Minneapolis.
For easy comparison, once you complete this quick form, the coverage information is transmitted to insurance agents in Minneapolis who will give you bids for your insurance coverage. You won't even need to contact any agents because quoted prices will be sent immediately to your email address. If you want to get a rate quote from a specific company, don't hesitate to search and find their rate quote page and give them your coverage information.
Selecting an company needs to be determined by more than just a cheap price. The questions below may impact your decision as well.
- Will you get a loaner vehicle if you car is being repaired?
- Can you get a list of referrals?
- Do they specialize in personal lines coverage in Minneapolis?
- Are they paid to recommend certain coverages?
- If you are a high risk driver, do they have special markets for your coverage?
- Can you contact them at any time?
- Which insurance company do they prefer to write with?
After getting good responses to any questions you may have and affordable Ford Escape insurance rates in Minneapolis quotes, it's possible that you found an insurance company that can be trusted to insure your vehicles.
Can you really save $381 a year?
Consumers can't ignore all the ads for cheaper auto insurance by companies like Progressive, GEICO, Allstate and State Farm. All the companies seem to make the promise that you'll save big if you just switch your auto insurance coverage to their company.
Is it even possible that every company can make the same claim? This is how they do it.
Insurance providers can use profiling for the type of driver that earns them the highest profit. For example, a desirable insured may need to be over the age of 35, insures multiple vehicles, and has a high credit rating. Any driver that meets those criteria may get the lowest prices in Minneapolis and have a good chance to cut their Ford Escape insurance rates if they switch.
People who are not a match for the "perfect" profile will have to pay a higher premium which leads to the customer buying from someone else. The ads state "people that switch" not "everyone that quotes" save that much money. That is how companies can truthfully make claims like that.
Because each company has a different risk profile, it is so important to compare rate quotes every year. It's just too difficult to predict which insurance companies will give you lower car insurance rates than your current company.
Persistence pays off
Low-cost Ford Escape insurance in Minneapolis can be bought on the web and from local agencies, and you should compare price quotes from both in order to have the best price selection to choose from. Some companies do not provide internet price quotes and these smaller companies only sell coverage through local independent agencies.
Throughout this article, we presented many tips how you can compare Ford Escape insurance prices in Minneapolis. The most important thing to understand is the more rate quotes you have, the better chance you'll have of finding the cheapest Ford Escape rate quotes. You may even be surprised to find that the most savings is with a smaller regional carrier. These smaller insurers may have significantly lower rates on certain market segments as compared to the big name companies such as Progressive or GEICO.
More detailed car insurance information can be found in these articles:
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- What Car Insurance is Cheapest for a Company Car in Minnesota? (FAQ)
- How Much are Auto Insurance Rates for Used Cars in Minnesota? (FAQ)
- What Car Insurance is Cheapest for Handicapped Drivers in Minnesota? (FAQ)
- Who Has Cheap Car Insurance Rates for Retired Military in Minnesota? (FAQ)
- What Auto Insurance is Cheapest for Drivers Over Age 60 in Minnesota? (FAQ)
- How Much is Minnesota Auto Insurance for Low Credit Scores? (FAQ)
- How Much are Car Insurance Quotes for a Ford Fusion in Minnesota? (FAQ)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Information for Teen Drivers (GEICO)
- Distracted Driving Statistics (Insurance Information Institute)