Cheapest 2001 Ford Ranger Insurance Rates in 2023
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UPDATED: Feb 10, 2020
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Want the cheapest auto insurance rates for your Ford Ranger? Are you sick and tired of trying to scrape together enough money to buy car insurance? Your situation is no different than many other drivers.
Many insurance companies compete for your hard-earned dollar, so it’s not easy to compare every insurance company and get the definite lowest rate
If you are paying for car insurance now, you will most likely be able to reduce your rates substantially using this information. Finding the best rates is not that difficult. But vehicle owners need to learn the way insurance companies price insurance differently.
Discounts are great for lower rates
Companies don’t always list all available discounts very clearly, so we break down some of the best known and the more hidden insurance coverage savings.
- Pay Upfront and Save – By paying your policy upfront instead of paying each month you could save up to 5%.
- Organization Discounts – Being a member of a civic or occupational organization is a good way to get lower rates on insurance coverage for Ranger insurance.
- Good Students Pay Less – A discount for being a good student can earn a discount of 20% or more. The discount lasts well after school through age 25.
- Student in College – Kids in college who are attending college and don’t have a car can receive lower rates.
- Theft Prevention System – Vehicles equipped with anti-theft or alarm systems help deter theft and qualify for as much as a 10% discount.
- Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes prevent accidents and will save you 10% or more.
- Seat Belts Save more than Lives – Buckling up and requiring all passengers to buckle their seat belts can save 10% or more off the personal injury premium cost.
- Multiple Vehicles – Having multiple vehicles with the same company may reduce the rate for each vehicle.
- Save over 55 – Older drivers may receive better insurance coverage rates for Ranger insurance.
- Defensive Driver – Taking a course in driver safety could cut 5% off your bill and easily recoup the cost of the course.
Keep in mind that most of the big mark downs will not be given to your bottom line cost. Most only reduce specific coverage prices like comprehensive or collision. So even though they make it sound like all the discounts add up to a free policy, insurance coverage companies aren’t that generous.
For a list of insurance companies with discount insurance coverage rates, click here.
How to Compare Insurance Coverage Quotes
Performing a rate comparison can take hours if you don’t utilize the best way to get rate quotes. You could spend your day talking about coverages with insurance companies in your area, or you could save time and use online quotes for quick rates.
All the larger companies take part in a program where prospective buyers enter their policy data once, and at least one company provides a quote based on that data. This system prevents you from having to do form submissions to each company.
To participate in this free quote system, click here (opens in new window).
The one downside to using this type of form is that consumers can’t choose which providers you want pricing from. So if you prefer to choose from a list of companies to compare rates, we have a listing of low cost insurance coverage companies in your area. View list of insurance companies.
It doesn’t matter which method you choose, just make darn sure you compare identical coverage information with each company. If you compare different liability limits you can’t possibly make an equal comparison. Just a small difference in coverage limits can result in a big premium difference. Keep in mind that comparing more company’s prices gives you a better chance of getting a better price.
Ford Ranger insurance rates can be determined by these details
An important part of buying insurance is that you know some of the elements that play a part in calculating your auto insurance rates. Knowing what determines base rates helps enable you to make changes that could result in lower auto insurance prices.
- Your location affects your rates – Living in a small town can be a good thing when it comes to auto insurance. Drivers who live in large cities have to deal with much more traffic and longer commute times. Fewer people translates into fewer accidents and a lower car theft rate.
- Frequent auto insurance claims increase rates – Car insurance companies provide better rates to insureds who are claim-free. If you file claims often, you can pretty much guarantee either higher rates or even cancellation. Car insurance is intended to be relied upon for the large, substantial claims.
- Clean credit earns discounts – Having a bad credit rating is a huge factor in determining your rates. Drivers with high credit ratings tend to file fewer claims and have better driving records than drivers who have lower ratings. If your credit rating can use some improvement, you could pay less to insure your 2001 Ford Ranger by improving your credit score.
- Protect your assets with liability insurance – Liability insurance will protect you when a jury decides you are liable for damages caused by your negligence. Liability insurance provides legal defense coverage which can cost thousands of dollars. Liability insurance is quite affordable compared to physical damage coverage, so do not skimp.
- A lapse in coverage is a bad thing – Having an insurance coverage lapse is a sure-fire way to bump up your auto insurance costs. Not only will you pay more, but being ticketed for driving with no insurance will get you a revoked license or a big fine.
- Don’t buy coverages you don’t need – There are a ton of extra bells and whistles that you can buy on your Ranger policy. Coverages for personal injury protection, towing coverage and additional equipment coverage may be costing you every month. These coverages may sound good initially, but now you might not need them so eliminate them to save money.
- Marriage pays dividends – Being married helps lower the price on your policy. Marriage is viewed as being more mature and responsible and statistics show married drivers get in fewer accidents.
- High crash test scores lower rates – Cars with high safety ratings can get you lower premiums. Safe vehicles reduce injuries and fewer injuries means less money paid by your insurance company and thus lower rates. If your Ford Ranger is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.
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You may need specialized coverage
When choosing proper insurance coverage, there is no cookie cutter policy. Everyone’s situation is a little different so this has to be addressed. Here are some questions about coverages that might help in determining if your situation will benefit from professional help.
- Can I pay claims out-of-pocket if I buy high deductibles?
- Is upholstery damage covered by car insurance?
- Do I have coverage for damage caused while driving under the influence?
- Can my babysitter drive my car?
- Is rental equipment covered for theft or damage?
- What are the financial responsibility laws in my state?
If you’re not sure about those questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area.
Coverages available on your policy
Having a good grasp of your policy can help you determine the best coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. Below you’ll find typical coverage types offered by auto insurance companies.
Collision – This will pay to fix damage to your Ranger from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things like driving through your garage door, colliding with another moving vehicle, sideswiping another vehicle, scraping a guard rail and rolling your car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to save money on collision insurance.
Coverage for uninsured or underinsured drivers – This coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.
Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important.
Liability auto insurance – Liability coverage provides protection from damage or injury you incur to other’s property or people by causing an accident. This coverage protects you from claims by other people, and doesn’t cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.
Liability coverage pays for claims like bail bonds, legal defense fees and medical expenses. How much liability should you purchase? That is a decision to put some thought into, but consider buying as high a limit as you can afford.
Comprehensive auto insurance – Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage pays for claims such as hitting a deer, vandalism and hitting a bird. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Coverage for medical expenses – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for hospital visits, EMT expenses, ambulance fees and doctor visits. The coverages can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not universally available but can be used in place of medical payments coverage
The best insurance company isn’t always the cheapest
Low-cost 2001 Ford Ranger insurance is possible from both online companies and with local insurance agents, and you need to price shop both to have the best rate selection. A few companies do not offer online quoting and most of the time these regional insurance providers sell through independent agents.
When trying to cut insurance costs, don’t be tempted to buy poor coverage just to save money. There are many occasions where drivers have reduced liability limits or collision coverage only to find out that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy a smart amount of coverage at a price you can afford.
We just showed you many ideas to get a better price on insurance. The most important thing to understand is the more times you quote, the better your chances of lowering your rates. Consumers could even find that the most savings is with a small mutual company. These companies may have significantly lower rates on certain market segments than the large multi-state companies such as Allstate and Progressive.
- Things to Know Before you Cancel Insurance (Allstate)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Safety Tips for Teen Drivers (Insurance Information Insitute)
- Understanding your Policy (NAIC.org)
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