Best Insurance for a Ford Escape in Durham

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Astonishing but true, nearly 70% of customers have remained with the same auto insurance company for four years or more, and 38% of drivers have never quoted rates to find cheap coverage. Consumers in Durham can cut their rates by $90 a year by just comparing quotes, but they feel it's too difficult to save money by comparing rate quotes.

Discount Ford Escape insuranceThe easiest way to find cheaper auto insurance rates in Durham is to start comparing prices yearly from companies who sell auto insurance in North Carolina.

  • First, spend some time learning about what is in your policy and the measures you can take to keep rates down. Many policy risk factors that cause rate increases like speeding and a poor credit rating can be amended by making minor changes in your lifestyle. Later in this article we will cover additional tips to help prevent high rates and find additional discounts.
  • Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or State Farm, while independent agents can provide rate quotes from multiple insurance companies.
  • Third, compare the quotes to the premium of your current policy and see if you can save money. If you can save some money, ensure there is no coverage lapse between policies.
  • Fourth, give notification to your agent or company of your decision to cancel your existing policy. Submit the application along with any required down payment to the new company. As soon as you receive it, put the certificate of insurance with the vehicle registration.

One thing to remember is that you'll want to compare similar deductibles and liability limits on each quote request and and to look at as many companies as possible. This enables a level playing field and a complete rate analysis.

If you have coverage now, you stand a good chance to be able to find better prices using these techniques. Finding the cheapest coverage in Durham is quite easy. But North Carolina consumers must comprehend how companies calculate your policy premium and take advantage of how the system works.

The quickest way to compare rates for Ford Escape insurance in Durham is to know the trick most insurance companies have advanced systems to give rate comparisons. To begin a comparison, all you need to do is give them rating details including whether you have decent credit, the make and model of your vehicles, the ages of drivers, and deductibles desired. The data is then submitted to multiple companies and they return rate quotes quickly.

To get price quotes for your Ford Escape now, click here then complete the form.

The auto insurance companies shown below have been selected to offer quotes in Durham, NC. If multiple companies are listed, it's a good idea that you visit as many as you can to get the most competitive price.

Premium rates and analysis

The data table shown next covers estimates of insurance premium costs for Ford Escape models. Being aware of how premiums are figured can benefit drivers when making smart choices when buying a policy.

Ford Escape Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Escape XLS 2WD $118 $210 $240 $14 $72 $654 $55
Escape XLS 4WD $118 $210 $240 $14 $72 $654 $55
Escape XLT 2WD $118 $210 $240 $14 $72 $654 $55
Escape Limited 2WD $134 $210 $240 $14 $72 $670 $56
Escape XLT 4WD $134 $210 $240 $14 $72 $670 $56
Escape Limited 4WD $134 $256 $240 $14 $72 $716 $60
Get Your Own Custom Quote Go

Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Prices do not factor in specific garaging location which can modify coverage rates significantly.

Raise deductibles and save

When shopping for auto insurance, a common question is how high should your deductibles be. The premium rates below may help you to understand how much more you'll pay when you buy lower versus higher comp and collision deductibles. The first rate table uses a $250 deductible and the second rate chart uses a $500 deductible.

Ford Escape insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Escape XLS 2WD $168 $266 $212 $12 $64 $747 $62
Escape XLS 4WD $168 $266 $212 $12 $64 $747 $62
Escape XLT 2WD $168 $266 $212 $12 $64 $747 $62
Escape Limited 2WD $192 $266 $212 $12 $64 $771 $64
Escape XLT 4WD $192 $266 $212 $12 $64 $771 $64
Escape Limited 4WD $192 $324 $212 $12 $64 $829 $69
Get Your Own Custom Quote Go
Ford Escape insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Escape XLS 2WD $136 $214 $212 $12 $64 $638 $53
Escape XLS 4WD $136 $214 $212 $12 $64 $638 $53
Escape XLT 2WD $136 $214 $212 $12 $64 $638 $53
Escape Limited 2WD $156 $214 $212 $12 $64 $658 $55
Escape XLT 4WD $156 $214 $212 $12 $64 $658 $55
Escape Limited 4WD $156 $262 $212 $12 $64 $706 $59
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Premium costs do not factor in specific location which can modify price quotes significantly.

Based on this data, using a $250 deductible could cost the average driver approximately $9 more each month or $108 for a full year averaged for all Escape models than choosing the higher $500 deductible. Because you would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you go at a minimum 28 months between claim filings, you would save more money if you elect the higher deductible.

How to calculate if a higher deductible is a good decision

Average monthly premium for $250 deductibles: $64
Average monthly premium for $500 deductibles (subtract): - $55
Monthly savings from raising deductible: $9
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $9
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 higher deductibles means you will have to cover more of the damage yourself if you have a claim. You should have some extra savings in the event you need to pay more for the deductible.

Difference between liability only and full coverage rates

The chart below illustrates the difference between Ford Escape car insurance costs with full physical damage coverage and with liability coverage only. The data is based on no claims or driving citations, $100 deductibles, single marital status, and no discounts are applied to the premium.

Guidelines for dropping full coverage

There is no clear-cut rule to drop full coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.

For example, let's pretend your Ford Escape settlement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $7,000 after the policy deductible has been paid. If you are paying over $700 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some situations where only buying liability is not recommended. If you haven't satisfied your loan, you have to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.

Insurance Rate Influencing Factors

Multiple criteria are used in the calculation when you get a price on insurance. Some are obvious like an MVR report, although some other factors are not quite as obvious such as whether you are married and annual miles driven. A large part of saving on auto insurance is knowing the factors that go into determining your policy premiums. If you have some idea of what influences your rates, this allows you to make educated decisions that can earn you cheaper rates.

Traffic violations drive up premiums - Your driving record can have a huge impact on auto insurance premiums. Just one moving violation may increase your cost by as much as thirty percent. Drivers with clean records pay less for auto insurance than their less careful counterparts. Drivers who have received dangerous violations such as reckless driving or DUI may be required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to prevent their license from being revoked.

The chart below demonstrates how traffic citations and at-fault fender-benders can affect Ford Escape car insurance costs for each different age group. The prices are based on a married female driver, full coverage, $500 deductibles, and no discounts are taken into consideration.

Costs are impacted by vehicle performance - The performance level of the vehicle you need to insure makes a big difference in your auto insurance rates. Small economy passenger models receive the most favorable rates, but your final cost has many other factors.

The following chart assumes a married male driver age 20, full coverage with $100 deductibles, and no discounts or violations. It compares Ford Escape policy rates compared to other vehicles that have different performance rating factors.

Deter theft and reduce prices - Owning a car that has a built-in theft deterrent system can help lower your rates. Advanced theft deterrents such as GM's OnStar, tamper alarm systems and vehicle immobilizers help track and prevent your vehicle from being stolen.

Pay more if you have a long commute - Choosing to live in areas with lower population may provide you with better prices when it comes to auto insurance. Fewer drivers on the road means fewer accidents and lower theft and vandalism rates. Drivers who live in large North Carolina cities regularly have more aggressive driving styles and higher rates of accident claims. The longer drive time statistically corresponds to a higher accident and claim rate.

Poor credit rating equals high rates - Having a bad credit history factor in your rate calculation. Insureds with excellent credit tend to be more responsible and file fewer claims than drivers with poor credit. If your credit history is not that good, you could potentially save money when insuring your Ford Escape by improving your credit score.

Extra policy coverages push up prices - There are many extra coverages that you can buy if you don't pay attention. Coverage for things like roadside assistance, better glass coverage, and motor club memberships may not be needed and are just wasting money. They may seem good when you first buy your policy, but if you've never needed them in the past eliminate them to save money.

Don't cut corners with liability - Liability insurance is the coverage that protects you if you are ruled to be at fault for an accident. Liability provides for a legal defense to attempt to prove you were not liable. This coverage is relatively inexpensive as compared to coverage for physical damage, so buy as much as you can afford.

Choose high IIHS safety ratings and save - Vehicles that have high safety ratings can get you lower premiums. Safe vehicles result in less severe injuries and any reduction in injury severity translates into fewer and smaller insurance claims and more competitive rates for policyholders. If your Ford Escape has at least an "acceptable" rating on the Insurance Institute for Highway Safety website you may pay a lower rate.

Insurance loss probability for a Ford Escape - Insurers study historical loss data when setting premium rates. Vehicles that tend to have higher claim amounts or frequency will cost more for coverage.

The table shown below demonstrates the insurance loss data for Ford Escape vehicles. For each policy coverage type, the loss probability for all vehicles, regardless of make or model, is set at 100. Numbers that are below 100 represent a good loss history, while values that are above 100 point to more losses or an increased probability of a larger loss.

Auto Insurance Loss Data for Ford Escape Models
Specific Ford Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Ford Escape 4dr 2WD 80 91 83 94 94 92
Ford Escape 4dr 4WD 81 84 94 85 90 77
BETTER
AVERAGE
WORSE

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

It may be expensive, but it's not optional

Despite the potentially high cost of Ford Escape insurance, maintaining insurance may be required for several reasons.

  • Almost all states have minimum liability requirements which means the state requires a specific minimum amount of liability coverage in order to drive the car. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If you took out a loan on your Escape, most lenders will require you to have physical damage coverage to guarantee payment of the loan. If you do not keep the policy in force, the lender will be forced to insure your Ford at an extremely high rate and require you to fork over for the expensive policy.
  • Insurance protects your Ford and your assets. It will also pay for hospital and medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance will also pay attorney fees if anyone sues you for causing an accident. If your car is damaged in a storm or accident, your car insurance policy 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. As of last year, the average driver in North Carolina overpays more than $825 a year so you should quote your policy with other companies each time the policy renews to help ensure money is not being wasted.