When looking for lower-cost insurance, do you get overwhelmed by the sheer number of auto insurance providers that you can choose from? Many other drivers are as well. Consumers have such a large number of options that it can quickly become a burden to find the perfect company for you. Everyone knows Detroit has many things to offer, but expensive auto insurance rates can make it nearly impossible for many drivers to pay other bills every month.
How to buy cheaper Ford Transit Connect insurance in Detroit
The best way we recommend to get budget Ford Transit Connect insurance is to compare quotes once a year from different companies who can sell car insurance in Detroit. You can compare rates by following these steps.
First, try to learn about how insurance companies determine prices and the measures you can take to prevent rate increases. Many policy risk factors that drive up the price such as careless driving and a less-than-favorable credit score can be remedied by being financially responsible and driving safely.
Second, compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like GEICO or Allstate, while independent agencies can provide rate quotes for a wide range of companies. Compare rates now
Third, compare the new rate quotes to your existing policy to see if a cheaper rate is available in Detroit. If you find better rates and decide to switch, make sure there is no coverage gap between policies.
Fourth, provide notification to your current agent or company of your intention to cancel your current coverage and submit payment and a signed application to your new carrier. Be sure to store the proof of insurance paperwork in an easily accessible location.
The key aspect of shopping around is to use similar limits and deductibles on each quote and and to get prices from as many car insurance companies as possible. Doing this provides a fair rate comparison and the best price quote selection.
Surprisingly, a recent survey revealed that about 70% of customers kept their policy with the same company for four years or more, and just under half have never shopped around. With the average auto insurance premium being $6,300, Michigan drivers could save themselves nearly 65% a year just by getting comparison quotes, but they don’t know the large savings they would see if they swap their current policy for a cheaper one.
The quickest method to compare insurance rates from multiple companies takes advantage of the fact most of the larger companies allow for online access to give you rate quotes. The only thing you need to do is give them rating details like coverage limits, if it has an alarm system, distance driven, and if the vehicle is leased. Your insurance information gets sent immediately to multiple companies and you should receive rate quotes within a short period of time.
To start a quote now, click here and enter the information requested.
The companies shown below are our best choices to provide free quotes in Detroit, MI. If you want the best cheap car insurance in Detroit, it’s a good idea that you visit as many as you can to get a more complete price comparison.
The coverage information below covers estimates of coverage costs for Ford Transit Connect models. Having a better understanding of how insurance policy rates are determined can help you make smart choices when selecting a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Transit Connect XL 2WD||$290||$602||$650||$38||$194||$1,774||$148|
|Transit Connect XLT 2WD||$290||$602||$650||$38||$194||$1,774||$148|
|Get Your Own Custom Quote Go|
Premium data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Price information does not factor in your specific Detroit location which can lower or raise rates substantially.
The chart below shows how choosing a deductible and can affect Ford Transit Connect insurance rates for different insured age categories. The costs are based on a married female driver, full coverage, and no policy discounts are applied.
Cost of full coverage
The illustration below visualizes the comparison of Ford Transit Connect car insurance rates with full physical damage coverage and with liability coverage only. The rates are based on no claims or driving violations, $250 deductibles, drivers are single, and no other discounts are factored in.
When to drop comp and collision
There is no specific rule to stop buying comp and collision coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than about 10% of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let’s assume your Ford Transit Connect replacement cost is $6,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $5,000 after you pay the deductible. If you are paying more than $500 annually to have full coverage, then you might want to consider buying only liability coverage.
There are a few situations where removing full coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not buy liability only.
Get Cheap Insurance Premiums by Understanding These Factors
Many factors are taken into consideration when premium rates are determined. Some are obvious such as your driving history, but other criteria are not quite as obvious like where you live or your financial responsibility. Consumers need to have an understanding of the rating factors that help calculate the level of your policy premiums. When consumers understand what positively or negatively impacts your premiums, this helps enable you to make changes that may result in much lower annual insurance costs.
- Single vs. married – Having a significant other may cut your premiums on your policy. It generally demonstrates drivers are more mature and statistics prove married couples file fewer claims.
- Save by driving cars with good safety ratings – Vehicles with high crash test scores can get you lower premiums. These vehicles reduce occupant injuries and fewer serious injuries means less claims paid passed on to you as lower rates. If your Ford Transit Connect earned at least four stars on Safercar.gov it may cost less to insure.
Performance influences insurance premiums – The performance of the car, truck or SUV you are insuring makes a huge difference in your premium level. The lowest rates are usually for the lowest performance passenger cars, but that’s not the only thing that factors into the final price.
The following chart uses these variables: single male driver age 20, full coverage with $100 deductibles, and no discounts or violations. The data compares Ford Transit Connect policy rates compared to other vehicles that have a range of performances.
- Deter theft and lower rates – Selecting a car model with a theft deterrent system can get you a discount on your car insurance. Systems that thwart thieves such as OnStar, LoJack tracking, and tamper alarms all hinder your vehicle from being stolen.
- Higher coverage deductibles are cheaper – Comp and collision deductibles define the amount you are willing to pay out-of-pocket if a covered claim is submitted. Physical damage insurance, aka comp and collision, insures against damage to your car. Some instances where coverage would apply would be colliding with a stationary object, animal collisions, or theft of your vehicle. The more damage repair cost you pay before a claim is paid (deductible), the lower your rates will be.
- Low credit rating equals high rates – Having a bad credit score is a large factor in your rate calculation. Therefore, if your credit history leaves room for improvement, you may save money insuring your Ford Transit Connect by repairing your credit. People that have very high credit ratings tend to be more responsible and file fewer claims as compared to drivers with lower credit ratings.
- Stress out and pay more – Did you know your occupation can influence how much you pay for car insurance? Occupations such as doctors, executives, and medical professionals are shown to have higher rates than the rest of us because of intense work-related stress and long work hours. Conversely, occupations like professors, students and homemakers generally pay rates lower than average.
- Infrequent drivers can save – The more you drive annually the higher the price you pay to insure it. Many insurance companies charge rates based on how the vehicle is used. Autos that are left in the garage receive lower rates than cars that get driven a lot. Improper usage on your Transit Connect is throwing money out the window. Ask your agent if your car insurance coverage properly reflects the correct driver usage.
Best reasons to buy auto insurance in Michigan
Despite the high insurance cost for a Ford Transit Connect in Detroit, maintaining insurance may not be optional for several reasons.
- Most states have minimum mandated liability insurance limits which means you are required to buy a minimum amount of liability insurance in order to drive the car. In Michigan these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your Ford has a lienholder, most lenders will make it a condition of the loan that you have full coverage to guarantee their interest in the vehicle. If the policy lapses, the lender will be forced to insure your Ford for a much higher rate and require you to fork over the higher premium.
- Insurance protects not only your Ford but also your financial assets. It will also reimburse you for medical expenses incurred in an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.
The benefits of having auto insurance definitely exceed the cost, particularly when you have a large claim. Today the average American driver is overpaying over $855 a year so we recommend shopping around once a year at a minimum to ensure rates are competitive.