Buying affordable coverage for a Ford Escape doesn’t take too much effort, but it is dependent upon an enormous amount of rating factors such as how old the Escape is, your claims history, and citations on your driving record. Drivers in Michigan will pay on average $1,534 per year to insure their Escape, but that cost is a projection calculated based on a 40-year-old married female driver with both comprehensive and collision coverage and $500 deductibles.
The issue that arises when projecting rates is that it’s very likely that you may not be 40 years old (or even female), possibly single instead of married, and you don’t want the same coverages and limits as the example. Even a slight change in rating criteria could result in a significant change in the coverage rate.
This demonstrates why the only real way to find the cheapest insurance price for your Ford is to put in the effort to do a thorough rate comparison. Price quotes are quick and you will receive prices from some of the best companies that sell coverage in Michigan.
Your Ford’s trim level will have an impact price, so the price you will pay to insure a Escape XLS 2WD trim level will be $176 cheaper than the insurance cost for the more well-appointed Escape Limited 4WD version, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Escape XLS 2WD||$324||$584||$616||$36||$184||$1,744||$145|
|Escape XLS 4WD||$324||$584||$616||$36||$184||$1,744||$145|
|Escape XLT 2WD||$324||$584||$616||$36||$184||$1,744||$145|
|Escape Limited 2WD||$374||$584||$616||$36||$184||$1,794||$150|
|Escape XLT 4WD||$374||$584||$616||$36||$184||$1,794||$150|
|Escape Limited 4WD||$374||$710||$616||$36||$184||$1,920||$160|
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Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rate information does not factor in specific Detroit garaging location which can revise auto insurance rates greatly.
Finding the right insurance company can be rather challenging considering how many different companies sell coverage in Michigan. The ranking data shown below can help you decide which insurers to look at comparing rate quotes with.
These ratings are only comprised of companies who write in the majority of U.S. states, so companies that focus mainly on Michigan business will not be included in these rankings. If you’d like to compare prices from these and other top-rated companies, click here.
Top 10 Large Auto Insurance Providers in Detroit Ranked by A.M. Best Rating
- State Farm – A++
- USAA – A++
- GEICO – A++
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
- Esurance – A+
- Progressive – A+
- Safeco Insurance – A
- Liberty Mutual – A
Top 10 Large Auto Insurance Providers in Detroit Ranked by Value
- The Hartford
- Farmers Insurance
- AAA Insurance
- 21st Century
- Safeco Insurance
- State Farm
- American Family
- Liberty Mutual
How to get discounts on Detroit car insurance rates
Insurance providers that offer cheap quotes for a Ford Escape may provide rate discounts that can reduce rates by 25% or more if you meet certain criteria. A few popular companies and a selection of discounts can be found below.
- State Farm offers discounts for good student, driver’s education, safe vehicle, student away at school, passive restraint, and defensive driving training.
- Farmers Insurance has savings for distant student, early shopping, bundle discounts, mature driver, and multi-car.
- GEICO offers premium reductions for daytime running lights, anti-lock brakes, anti-theft, military active duty, membership and employees, federal employee, and multi-vehicle.
- American Family has discounts for bundled insurance, mySafetyValet, early bird, defensive driver, multi-vehicle, accident-free, and Steer into Savings.
- Nationwide may have discounts that include anti-theft, Farm Bureau membership, family plan, easy pay, good student, and business or organization.
- Progressive policyholders can earn discounts including multi-vehicle, online signing, homeowner, multi-policy, continuous coverage, and online quote discount.
The information below illustrates the comparison of insurance premiums with and without discounts applied. The data is based on a male driver, no claims or driving citations, Michigan state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multiple policy, claim-free, vehicle safety, safe-driver, and accident-free discounts applied. When discounts are factored in, theamount saved on car insurance for a Ford Escape is 28% or $1,021.
Rate difference between full and liability-only coverage
Buying cheaper car insurance is probably important to most people, and one of the best ways to pay lower rates for insurance for a Ford Escape is to only pay for liability coverage. The diagram below illustrates the difference between premium costs with full physical damage coverage compared to only buying liability only. The premiums assume a clean driving record, no at-fault accidents, $500 deductibles, drivers are single, and no additional discounts are factored in.
If we average all the age groups together, physical damage coverage costs an additional $3,231 per year over having just liability coverage. That is a significant amount which raises the question if full coverage is worth the money. There isn’t a steadfast formula for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is 10% or more of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let’s assume your vehicle’s settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $4,000 after the policy deductible has been paid. If premiums are more than $400 a year for full coverage, then you may need to consider dropping full coverage.
The example below shows how different deductible levels can influence premium costs when researching cheap insurance for a Ford Escape. The prices are based on a married male driver, full physical damage coverage, and no policy discounts are applied.
In the chart above, a 40-year-old driver could lower rates by $480 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $728 by changing to a $1,000 deductible. Young drivers, like the 20-year-old, could roll back prices $1,602 annually by using higher deductibles when buying full coverage. When choosing a higher deductible, it will be important to have spare funds to allow you to pay the extra out-of-pocket expense associated with higher deductibles.