Best Ford Explorer Insurance in Durham

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It's hard to fathom, but the majority of drivers have remained with the same car insurance company for four years or more, and approximately 40% of consumers have never compared rate quotes at all. With the average premium in North Carolina being $980, drivers can save hundreds of dollars each year by just comparing rate quotes, but they don't believe the rate savings if they switch to a new company.

Discount Ford Explorer insuranceThe most effective way to find affordable car insurance rates is to compare prices once a year from different companies in Durham. You can shop around by following these steps.

  1. Read about coverages and the measures you can control to keep rates down. Many rating factors that are responsible for high rates like traffic citations, accidents, and a negative credit score can be eliminated by making minor driving habit or lifestyle changes.
  2. Quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Allstate, while independent agencies can provide rate quotes for a wide range of companies. View companies
  3. Compare the quotes to your existing coverage to see if you can save by switching companies. If you can save money, make sure the effective date of the new policy is the same as the expiration date of the old one.

The key thing to remember is to try to compare the same coverage limits and deductibles on each quote request and and to get quotes from as many auto insurance providers as possible. Doing this guarantees a fair rate comparison and maximum price selection.

How to find the cheapest Ford Explorer insurance in Durham, NC

The companies shown below are our best choices to provide quotes in North Carolina. If you want the cheapest auto insurance in Durham, NC, it's highly recommended you visit as many as you can to get the best price comparison.

Lower rates by qualifying for discounts

Companies that sell car insurance don't list every possible discount in an easy-to-find place, so the list below contains a few of the more well known and the harder-to-find credits that may apply to you.Discount insurance

  • Bundled Policy Discount - If you can combine your auto and homeowners policy with the same company you may earn nearly 15% which can help you find inexpensive Ford Explorer insurance in Durham.
  • Early Switch Discount - Some insurance companies give discounts for switching companies before your current expiration date. Ten percent is about the average savings.
  • Theft Prevention Discount - Cars equipped with tracking devices and advanced anti-theft systems help deter theft and will qualify for a discount on a Durham auto insurance quote.
  • Pay Now and Pay Less - By paying your policy upfront rather than spreading payments over time you could save up to 5%.
  • Discount for Low Mileage - Maintaining low annual mileage could earn lower insurance rates due to less chance of an accident.
  • Military Rewards - Having an actively deployed family member may lower your rates slightly.

Don't be surprised that most of the big mark downs will not be given to the entire cost. Most only reduce specific coverage prices like collision or personal injury protection. Despite the appearance that having all the discounts means you get insurance for free, that's just not realistic.

The chart below shows the difference between Ford Explorer car insurance costs with and without discounts applied to the policy rates. The data assumes a female driver, no driving violations, no at-fault accidents, North Carolina state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, marriage, safe-driver, multi-policy, and homeowner discounts applied.

A few popular companies and the discounts they provide are outlined below.

  • State Farm policyholders can earn discounts including Drive Safe & Save, defensive driving training, good student, good driver, and anti-theft.
  • GEICO offers discounts including daytime running lights, seat belt use, membership and employees, good student, and emergency military deployment.
  • SAFECO includes discounts for drive less, homeowner, multi-car, accident prevention training, teen safe driver, and teen safety rewards.
  • Farmers Insurance has discounts for teen driver, distant student, homeowner, business and professional, early shopping, and multi-car.
  • AAA may have discounts that include AAA membership discount, good driver, multi-policy, education and occupation, and anti-theft.
  • USAA may include discounts for annual mileage, safe driver, multi-vehicle, loyalty savings, defensive driver, and vehicle storage.

It's a good idea to ask all the companies which discounts can lower your rates. Discounts may not be offered in Durham. To locate insurers with significant discounts in North Carolina, click this link.

Insurance data for a Ford Explorer

The table displayed next outlines estimates of coverage prices for Ford Explorer models. Being more informed about how auto insurance premiums are determined can help customers make informed decisions when shopping around for a new policy.

Ford Explorer Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Explorer XLT 2WD $192 $266 $250 $14 $74 $796 $66
Explorer Eddie Bauer 2WD $192 $266 $250 $14 $74 $796 $66
Explorer XLT 4WD $192 $266 $250 $14 $74 $796 $66
Explorer XLT AWD $192 $266 $250 $14 $74 $796 $66
Explorer Eddie Bauer 4WD $218 $324 $250 $14 $74 $880 $73
Explorer Eddie Bauer AWD $218 $324 $250 $14 $74 $880 $73
Explorer Limited 2WD $218 $324 $250 $14 $74 $880 $73
Explorer Limited 4WD $218 $324 $250 $14 $74 $880 $73
Explorer Limited AWD $218 $324 $250 $14 $74 $880 $73
Get Your Own Custom Quote Go

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Rates do not factor in garaging location in Durham which can revise price quotes greatly.

Comparison of policy deductibles

One of the hardest decisions when shopping for insurance is how high or low should comp and collision deductibles be. The following tables summarize the differences in premium rates between high and low coverage deductibles. The first rate estimation uses a $100 deductible for comprehensive and collision coverage and the second price grid uses a $500 deductible.

Ford Explorer insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Explorer XLT 2WD $214 $318 $250 $14 $74 $895 $75
Explorer Eddie Bauer 2WD $214 $318 $250 $14 $74 $895 $75
Explorer XLT 4WD $214 $318 $250 $14 $74 $895 $75
Explorer XLT AWD $214 $318 $250 $14 $74 $895 $75
Explorer Eddie Bauer 4WD $242 $386 $250 $14 $74 $991 $83
Explorer Eddie Bauer AWD $242 $386 $250 $14 $74 $991 $83
Explorer Limited 2WD $242 $386 $250 $14 $74 $991 $83
Explorer Limited 4WD $242 $386 $250 $14 $74 $991 $83
Explorer Limited AWD $242 $386 $250 $14 $74 $991 $83
Get Your Own Custom Quote Go
Ford Explorer insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Explorer XLT 2WD $156 $214 $250 $14 $74 $708 $59
Explorer Eddie Bauer 2WD $156 $214 $250 $14 $74 $708 $59
Explorer XLT 4WD $156 $214 $250 $14 $74 $708 $59
Explorer XLT AWD $156 $214 $250 $14 $74 $708 $59
Explorer Eddie Bauer 4WD $176 $262 $250 $14 $74 $776 $65
Explorer Eddie Bauer AWD $176 $262 $250 $14 $74 $776 $65
Explorer Limited 2WD $176 $262 $250 $14 $74 $776 $65
Explorer Limited 4WD $176 $262 $250 $14 $74 $776 $65
Explorer Limited AWD $176 $262 $250 $14 $74 $776 $65
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Rate information does not factor in garaging location in Durham which can raise or lower premiums significantly.

We can derive from the above data that using a $100 deductible costs about $17 more each month or $204 a year averaged for all Explorer models than quoting the higher $500 deductible. Since the policyholder would be required to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you average at a minimum 24 months between claim filings, you would probably save some money going with the higher deductible.

How to decide to raise your deductibles

Average monthly premium for $100 deductibles: $79
Average monthly premium for $500 deductibles (subtract): - $62
Monthly savings from raising deductible: $17
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $17
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 24 months

One important note is that raising deductibles means you will have to pay more out-of-pocket when you file a claim. You should have some extra savings in order to pay more to get your vehicle repaired.

The illustration below shows how different deductible levels and can impact Ford Explorer insurance costs for each different age category. The premium estimates are based on a married male driver, comprehensive and collision coverage, and no discounts are applied.

Should you buy full coverage?

The example below shows the difference between Ford Explorer insurance premiums with full physical damage coverage compared to only buying liability only. The prices are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are applied.

When to drop full coverage

There is no specific rule to stop buying full coverage, but there is a general convention. If the annual cost of comprehensive and collision 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 Explorer replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after paying your policy deductible. If you are paying in excess of $500 a year for full coverage, then you might want to think about dropping full coverage.

There are some cases where eliminating full coverage is not financially feasible. If you haven't satisfied your loan, you have to carry full coverage to protect the lienholder's interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.

Local Durham insurance agencies

Many people just want to sit down with an agent and doing so can bring peace of mind Insurance agents are highly skilled in risk management and help file insurance claims. A nice benefit of price shopping on the web is the fact that drivers can get the lowest rates and still buy from a local agent.

Insurance agents in DurhamOnce you complete this form (opens in new window), your insurance coverage information is transmitted to local insurance agents who can give free rate quotes for your car insurance coverage. It simplifies rate comparisons since you won't have to contact any agents because quoted prices will be sent immediately to you. If you want to get a comparison quote from a particular provider, you can always navigate to their website and fill out their quote form.

Deciding on an insurance company shouldn't rely on just the premium amount. Any agent in Durham should be willing to answer these questions.

  • Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
  • Are they able to provide referrals?
  • Will your rates increase after a single accident?
  • Do they have cheaper tiers of coverage?
  • Do they get extra compensation for selling add-on coverages?

Is an exclusive or independent auto insurance agent right for you?

If you would like to find a reliable insurance agency, it helps to know the two types of agencies and how they differ in how they quote coverages. Agents in Durham can be categorized as either exclusive or independent. Either can sell affordable car insurance policies, but it's good to learn the subtle differences because it can factor into your agent selection.

Exclusive Insurance Agencies

Agents that choose to be exclusive can only provide pricing for a single company and some examples include Farmers Insurance and State Farm. They generally cannot provide rate quotes from other companies so keep that in mind. Exclusive insurance agents are very knowledgeable on the products they sell which helps offset the inability to provide other markets. Some people will only buy from exclusive agents mainly due to loyalty to the company rather than low price.

Below is a list of exclusive agencies in Durham who can help you get price quotes.

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Independent Agencies or Brokers

Agents of this type are not restricted to one company so they have the ability to put coverage with many different companies enabling the ability to shop coverage around. If your premiums go up, they simply move your policy to a different company which makes it simple for you. If you are trying to find cheaper rates, you need to contact multiple independent agents to have the best price comparison. Most also write with different regional companies that many times have cheaper rates.

Below is a list of independent insurance agencies in Durham that can give you rate quotes.

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Why Your Insurance Costs might be higher

Part of the car insurance buying process is learning the rating factors that play a part in calculating your policy premiums. If you know what determines base rates, this enables informed choices that could result in cheaper rates.

Coverage deductibles are a factor - Physical damage coverage, also known as collision and other-than-collision, covers damage that occurs to your Ford. Some instances where coverage would apply could be running into the backend of another car, damage caused by hail, and rolling your vehicle. Physical damage deductibles define how much you are required to pay in the event of a claim. The higher the amount you pay before a claim is paid (deductible), the lower your rates will be.

Does your employer cost you more? - Did you know your career choice can influence rates? Occupational choices like military personnel, airline pilots, and stock brokers tend to pay higher premium rates in part from job stress and lots of time spent away from family. On the other hand, careers like farmers, historians and the unemployed have the lowest average rates.

Premiums are lower the older you get - Mature drivers are shown to be more cautious, are lower risk to insure, and receive fewer citations. Drivers with little experience have a tendency to be inattentive when driving so they pay higher car insurance rates.

The next chart is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.

Males pay higher costs - Over the last 30 years, statistics show females are less aggressive when driving. However, don't assume that males are worse at driving than females. Women and men are in fender benders at a similar rate, but the males tend to have more serious accidents. Men also statistically get cited for more serious violations like DUI and reckless driving.

The illustration below compares Ford Explorer auto insurance rates for male and female drivers. The premiums are based on no accidents or driving violations, comp and collision included, $500 deductibles, marital status is single, and no other discounts are factored in.

Get hitched and pay lower rates - Having a wife or husband may save some money on your car insurance policy. Marriage means you're more financially stable it has been statistically shown that drivers who are married file infrequent claims.

Limits of liability protection - A critical coverage on your policy, liability insurance is the protection if ever you are found liable for personal injury or accident damage. It will provide legal defense to attempt to prove you were not liable. This coverage is very inexpensive compared to comp and collision, so do not cut corners here.

Insurance losses for a Ford Explorer - Insurers take into consideration historical loss data for every vehicle as a tool for profitable underwriting. Vehicles that statistically have higher losses will be charged more to insure. The table below illustrates the loss history for Ford Explorer vehicles.

For each insurance policy coverage type, the loss probability for all vehicles as a whole is a value of 100. Numbers under 100 mean the vehicle has better than average losses, while numbers shown that are more than 100 point to more frequent losses or statistically larger losses.

Ford Explorer Insurance Loss Statistics
Specific Ford Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Ford Explorer 4dr 2WD 80 90 79 75 70 82
Ford Explorer 4dr 4WD 94 94 97 75 70 85
BETTER
AVERAGE
WORSE

Statistics from IIHS.org for 2013-2015 Model Years

Here's why car insurance is not optional

Even though it's not necessarily cheap to insure a Ford in Durham, car insurance is not optional due to several reasons.

First, just about all states have compulsory liability insurance requirements which means the state requires a minimum amount of liability insurance in order to get the vehicle licensed. 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.

Second, if your vehicle has a lienholder, more than likely the lender will have a requirement that you buy full coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the lender may insure your Ford at a much higher rate and require you to reimburse them much more than you were paying before.

Third, insurance protects not only your vehicle but also your assets. Insurance will pay for medical transport and hospital expenses incurred in an accident. Liability insurance, one of your policy coverages, will also pay to defend you if you cause an accident and are sued. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.

The benefits of having insurance definitely exceed the price paid, particularly for liability claims. An average driver in America overpays more than $820 a year so compare rates every year to ensure rates are inline.

Durham auto insurance companies

Picking a highly-rated insurer can be rather challenging considering how many companies sell insurance in North Carolina. The information shown below may help you decide which car insurance providers to look at purchasing coverage from.

Top 10 Durham Car Insurance Companies by A.M. Best Rank

  1. Travelers - A++
  2. USAA - A++
  3. GEICO - A++
  4. State Farm - A++
  5. Titan Insurance - A+
  6. Esurance - A+
  7. Progressive - A+
  8. Nationwide - A+
  9. The Hartford - A+
  10. Allstate - A+

What is YOUR best insurance company?

Affordable Ford Explorer insurance in Durham can be purchased from both online companies and from local insurance agents, and you should be comparing both so you have a total pricing picture. Some insurance companies may not provide the ability to get quotes online and many times these regional carriers only sell coverage through independent agents.

As you restructure your insurance plan, make sure you don't buy lower coverage limits just to save a few bucks. There have been many cases where consumers will sacrifice physical damage coverage and learned later that it was a big error on their part. Your goal is to buy a smart amount of coverage for the lowest cost while not skimping on critical coverages.

Drivers change insurance companies for a variety of reasons including lack of trust in their agent, an unsatisfactory settlement offer, policy cancellation and policy non-renewal. Regardless of your reason, finding the right insurance provider is less work than it seems.

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