Cheapest 2002 Ford Escape Insurance Rates in 2023
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UPDATED: Jun 2, 2023
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Want the cheapest insurance coverage rates for your Ford Escape? Trying to find the cheapest insurance for your Ford Escape can be a lot of work, but you can learn these tips to find lower rates. There are more efficient ways to find insurance coverage online and you need to know the proper way to price shop coverage for a Ford and find the cheapest rates from both online companies and local agents.
Choosing the best insurance company for you is easy if you know what you’re doing. If you have a current car insurance policy or are just looking to switch companies, you can use these techniques to find better prices and still get good coverage. Drivers just need to learn the proper methods to compare prices over the internet.
Ford Escape insurance premiums are calculated by many factors
Smart consumers have a good feel for some of the elements that come into play when calculating insurance coverage rates. Having a good understanding of what controls the rates you pay empowers consumers to make smart changes that can help you get much lower annual insurance costs.
- Increase deductibles and save – Deductibles for physical damage represent how much money you are required to spend before your insurance coverage pays a claim. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some instances where coverage would apply could be colliding with a building, damage caused by hail, and burglary. The more expense you are required to pay out-of-pocket, the less your insurance coverage will be for Escape insurance.
- Pay less after the wedding – Having a wife or husband can actually save you money when buying insurance coverage. Having a spouse usually means you are more mature and responsible and it’s proven that married couples file fewer claims.
- Teen drivers pay high rates – Teenage drivers tend to be careless and easily distracted behind the wheel so insurance coverage rates are higher. If you’ve ever had to add a young driver to your policy can break the bank. Older drivers are more cautious drivers, tend to file fewer claims and get fewer tickets.
- Men are more aggressive – Statistics show that women are safer drivers than men. That doesn’t necessarily mean that men are worse drivers. They both are in accidents at a similar rate, but the male of the species cause more damage. Men also tend to have more aggressive citations such as DWI and reckless driving. Teenage male drivers are the most expensive to insure and therefore have the most expensive insurance coverage rates.
- Your location is important – Living in small towns and rural areas can be a good thing when talking about insurance coverage. Fewer people means fewer accidents and also fewer theft and vandalism claims. Urban drivers have much more traffic to deal with and much longer commute distances. More time commuting means higher likelihood of an accident.
- Better credit scores mean better rates – Having a bad credit rating is a huge factor in calculating your insurance coverage rates. Consumers who have high credit scores tend to be less risk to insure than those with lower credit ratings. So if your credit score can use some improvement, you could save money insuring your 2002 Ford Escape by repairing your credit.
- Equipment add-ons that lower insurance coverage rates – Owning a car with anti-theft technology or alarm system can save you a little every year. Anti-theft devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent auto theft.
Cut your insurance coverage rates with discounts
Auto insurance companies don’t always list every discount in an easy-to-find place, so here is a list both the well known and the harder-to-find insurance coverage savings. If they aren’t giving you every credit you qualify for, you’re just leaving money on the table.
- New Car Discount – Putting insurance coverage on a new car can be considerably cheaper since new cars are generally safer.
- Auto/Home Discount – If you have multiple policies with the same company you could get a discount of at least 10% off all policies.
- Senior Citizens – If you qualify as a senior citizen, you may receive better insurance coverage rates for Escape insurance.
- Service Members Pay Less – Being on active duty in the military could mean lower rates.
- No Accidents – Drivers who don’t have accidents can save substantially as compared to bad drivers.
- Early Signing – A few companies offer discounts for switching to them before your current expiration date. This can save 10% or more.
- College Student – Any of your kids who attend school more than 100 miles from home and don’t have a car may be able to be covered for less.
- Memberships – Belonging to certain professional organizations is a good way to get lower rates when shopping for insurance coverage for Escape insurance.
- Drive Less and Save – Driving fewer miles could be rewarded with discounted rates on garaged vehicles.
Drivers should understand that many deductions do not apply the whole policy. Some only apply to specific coverage prices like collision or personal injury protection. So despite the fact that it appears it’s possible to get free car insurance, companies wouldn’t make money that way.
A partial list of companies who might offer these benefits include:
Before buying, ask each insurance company how you can save money. Discounts might not apply everywhere.
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Can you really save $417 a year?
Drivers get pounded daily by advertisements for cheaper car insurance by State Farm, GEICO and Progressive. All the companies make an identical promise that you can save if you move to their company.
How do they all say the same thing? This is how they do it.
Insurance companies are able to cherry pick for the driver they prefer to insure. For instance, a preferred risk could possibly be over the age of 50, owns a home, and drives less than 10,000 miles a year. A customer getting a price quote that hits that “sweet spot” gets the lowest rates and is almost guaranteed to pay quite a bit less when switching companies.
Drivers who are not a match for the requirements will be charged a more expensive rate which usually ends up with business not being written. The ad wording is “customers who switch” not “everyone that quotes” save that much money. That’s the way companies can advertise the savings. That is why drivers should get quotes from several different companies. It’s not possible to predict which insurance coverage company will have the lowest Ford Escape insurance rates.
You are unique and your insurance coverage should be too
When it comes to choosing coverage for your personal vehicles, there really is not a cookie cutter policy. Each situation is unique.
For example, these questions can aid in determining if your situation would benefit from professional advice.
- Do I need more liability coverage?
- Am I covered when pulling a rental trailer?
- When do I need to add a new car to my policy?
- Will my insurance pay for OEM parts?
- Do I pay less if my vehicle is kept in my garage?
- Is my state a no-fault state?
If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form. It only takes a few minutes and may give you better protection.
Learn about auto insurance coverages for a 2002 Ford Escape
Knowing the specifics of your auto insurance policy can help you determine appropriate coverage for your vehicles. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.
Comprehensive insurance coverage covers damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things such as a tree branch falling on your vehicle, hitting a deer, theft, damage from getting keyed and falling objects. The most a auto insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
This pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision insurance covers things such as hitting a parking meter, colliding with another moving vehicle, crashing into a ditch and driving through your garage door. This coverage can be expensive, so consider removing coverage from vehicles that are older. You can also raise the deductible to save money on collision insurance.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your 2002 Ford Escape.
Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important.
This coverage will cover damage that occurs to people or other property by causing an accident. This coverage protects you from legal claims by others. It does not cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 which stand for $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property.
Liability insurance covers things like repair bills for other people’s vehicles, medical services, legal defense fees, medical expenses and loss of income. How much liability should you purchase? That is your choice, but buy as much as you can afford.
Coverage for medical payments
Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses for rehabilitation expenses, surgery, funeral costs and hospital visits. The coverages can be used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to all vehicle occupants and also covers being hit by a car walking across the street. PIP is not an option in every state but can be used in place of medical payments coverage
Best coverage at the best price
Low-cost 2002 Ford Escape insurance can be found both online and with local insurance agents, and you need to price shop both in order to have the best chance of saving money. A few companies do not offer online price quotes and these small insurance companies work with independent agents.
In this article, we covered some good ideas how you can reduce insurance prices online. The most important thing to understand is the more times you quote, the better likelihood of reducing your rate. You may even discover the best prices are with a company that doesn’t do a lot of advertising.
People change insurance companies for any number of reasons including being labeled a high risk driver, an unsatisfactory settlement offer, extreme rates for teen drivers or not issuing a premium refund. No matter why you want to switch, finding a new company can be pretty painless.
- Information for Teen Drivers (GEICO)
- Insuring a Leased Car (Insurance Information Insitute)
- How to Avoid Staged Accidents (State Farm)
- Crash Avoidance Technologies FAQ (iihs.org)
- Things to Know Before you Cancel Insurance (Allstate)
- Understanding your Policy (NAIC.org)
Frequently Asked Questions
How are Ford Escape insurance premiums calculated?
Ford Escape insurance premiums are calculated based on several factors, including the driver’s age, location, driving history, coverage options, and the value of the vehicle.
Are there any discounts available for Ford Escape insurance?
Yes, there are various discounts that insurance companies may offer for Ford Escape insurance. These discounts can include safe driver discounts, multi-policy discounts, anti-theft device discounts, and more. It’s important to inquire with each insurance company to determine which discounts may apply.
Can I really save $417 a year on Ford Escape insurance?
While savings can vary depending on individual circumstances, it is possible to save money on Ford Escape insurance by comparing quotes from different insurance companies. Each company has its own pricing structure and discounts, so it’s recommended to compare quotes to find the best rates.
How do insurance companies advertise savings when switching?
Insurance companies often advertise savings for customers who switch because they target specific preferred risks, such as older drivers who own a home and drive fewer miles. By quoting these customers, the companies can offer lower rates and promote the savings. It’s essential to obtain quotes from multiple insurance companies to find the best rates for your specific situation.
How do I determine the appropriate coverage for my 2002 Ford Escape?
The coverage needed for a 2002 Ford Escape depends on individual circumstances and preferences. However, it’s generally recommended to have comprehensive and collision coverage to protect against damage to the vehicle. Additionally, liability coverage is required by law in most states. To determine the ideal coverage, it’s advisable to speak with a licensed insurance agent who can provide personalized advice.
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