Buying competitive auto insurance for a Ford Escape in Minnesota hinges on an enormous amount of factors such as whether you are married or single, the likelihood of vehicle theft, and your motor vehicle report. Drivers will pay around $711 a year to insure their Escape, but that is an estimation calculated based on a 50-year-old married male driver with both comprehensive and collision coverage and $250 deductibles.
It’s highly likely you are not 50 and maybe not even a male, possibly single instead of married, or maybe you have a speeding ticket that needs to be factored in. This illustrates why the only way to find affordable rates for your Ford is to do a thorough rate comparison.
Vehicle trim level tends to have a direct impact on the yearly cost, so the rate you pay to insure a Escape XLS 2WD trim level will be $90 cheaper than the insurance cost for the fancier Escape Limited 4WD version, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Escape XLS 2WD||$166||$288||$258||$16||$78||$806||$67|
|Escape XLS 4WD||$166||$288||$258||$16||$78||$806||$67|
|Escape XLT 2WD||$166||$288||$258||$16||$78||$806||$67|
|Escape Limited 2WD||$192||$288||$258||$16||$78||$832||$69|
|Escape XLT 4WD||$192||$288||$258||$16||$78||$832||$69|
|Escape Limited 4WD||$192||$352||$258||$16||$78||$896||$75|
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Table data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Table data does not factor in specific zip code location which can alter rates considerably.
Comparing quotes for budget insurance is hard enough, and figuring out which companies have the lowest-priced auto insurance rates for a Ford Escape will take more quotes for comparison.
Every car insurance company uses different criteria for establishing rates, so to begin we’ll rank the most budget-friendly auto insurance companies in Minneapolis. It’s important to understand that Minneapolis, MN auto insurance rates are calculated based on many things which can substantially change the cost of your policy. This is why it is critical to compare many different companies when trying to get cheap auto insurance quotes for a Ford Escape. Insurance rates are determined by many different factors and change frequently, so the lowest-price company the last time you compared rates may now not even be in the top five.
Cheap Insurance Rates for Your Escape
|Rank||Company||Cost Per Year|
|3||Farm Bureau Mutual||$813|
|6||West Bend Mutual||$952|
|13||Auto Club Group||$1,339|
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Travelers may offer some of the lowest car insurance rates in Minneapolis at around $667 each year. USAA, Farm Bureau Mutual, The Hartford, and Western National would also be considered some of the more affordable Minneapolis, MN insurance companies.
As the rates illustrate above, if you are currently insured with Farm Bureau Mutual and switched to Travelers, you could see a yearly price reduction of roughly $146. Policyholders with The Hartford could save as much as $269 a year, and Western National insureds might see rate reductions of $270 a year.
Remember that these policy prices are averaged across all types of insureds and vehicles and do not factor in a vehicle location for a Ford Escape. So the company that has the cheapest price for you may not even be in the top 24 companies shown above. That points out the importance of why you need to get quotes using your own driver data and vehicle information.
The diagram below highlights how deductible selection can change yearly insurance costs when quoting cheap insurance for a Ford Escape. The costs are based on a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The chart above illustrates that a 50-year-old driver could lower their policy premium by $302 a year by changing from a $100 deductible to a $500 deductible, or save $456 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old category, can cut up to $766 or even more by choosing larger deductibles on their policy. If you make the decision to raise deductibles, it is a good idea to have emergency funds available to be able to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
How to get discounts on Minneapolis auto insurance rates
Car insurance companies that sell policies for a Ford Escape may also offer premium discounts that could potentially reduce rates by 35% or more if you can meet the requirements. Larger auto insurance companies and their possible discounts can be read below.
- GEICO may include discounts for good student, multi-policy, membership and employees, federal employee, anti-lock brakes, multi-vehicle, and defensive driver.
- MetLife offers discounts including good student, good driver, multi-policy, claim-free, defensive driver, accident-free
- State Farm policyholders can earn discounts including passive restraint, multiple autos, accident-free, good student, driver’s education, defensive driving training, and safe vehicle.
- Progressive offers premium reductions for homeowner, online quote discount, multi-policy, multi-vehicle, online signing, good student, and continuous coverage.
- Mercury Insurance may offer discounts for accident-free, annual mileage, type of vehicle, age of vehicle, ease of repair, location of vehicle, and good student.
- 21st Century discounts include defensive driver, 55 and older, student driver, good student, early bird, driver training, and teen driver.
- Allstate offers discounts for safe driver, utility vehicle, early signing, defensive driver, anti-theft, and auto/life discount.
The chart below visualizes the comparison of yearly insurance costs with and without discounts applied to the rates. The prices are based on a female driver, no driving violations, no at-fault accidents, Minnesota state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with marriage, defensive driving course, homeowner, vehicle safety, accident-free, and safe-driver discounts applied. When drivers take advantage of discounts, the average amount saved each year on auto insurance for a Ford Escape is 28% or $354.
Comparison of full coverage and liability-only policies
Saving on auto insurance is the goal of most drivers, and one way to lower the cost of insurance for a Ford Escape is to not buy comprehensive and collision coverage. The diagram below compares insurance costs with and without full coverage. The premiums assume no claims or violations, $500 deductibles, drivers are single, and no additional discounts are factored in.
If averaged for all ages, full coverage on your policy costs an additional $1,498 per year over having just liability coverage. Many of you may wonder if buying full coverage is a good investment. There is no written rule for phasing out comp and collision coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s replacement value is $8,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $7,500 after the deductible is paid. If you are currently paying more than $750 annually for your policy with full coverage, then you might want to think about dropping full coverage.