Paying for expensive Ford Fusion insurance in Knoxville can empty your accounts and maybe even restrict other spending. Comparing rate quotes is a fast and free way to reduce premiums and put more money in your pocket.
A recent NerdWallet.com study revealed that the vast majority of auto insurance customers have stayed with the same insurance company for a minimum of four years, and nearly the majority have never compared rates to find lower-cost insurance. Tennessee insurance shoppers could pocket roughly 35% a year by just comparing rate quotes, but most tend to underestimate the benefits if they changed companies. There is such a variety of insurers to purchase coverage from, and even though it's nice to have multiple companies, too many choices makes it more difficult to locate the cheapest rates for Ford Fusion insurance in Knoxville.
It's a good idea to quote other rates quite often since insurance prices change quite often. If you had the best rates on Ford Fusion insurance in Knoxville at your last renewal there is a good chance you can find better premium rates now. Forget all the misinformation about auto insurance because you're about to learn the fastest and easiest way to save money, get proper deductibles and limits, all at the lowest rate.
Save Money with These Tips
It's important that you understand the factors that help determine your insurance rates. When you know what positively or negatively positively or negatively impacts your premiums, this empowers consumers to make smart changes that could result in much lower annual insurance costs. Lots of things are part of the equation when premium rates are determined. Most are fairly basic like a motor vehicle report, but other criteria are less obvious like your vehicle usage or your commute time.
The itemized list below are just a few of the factors companies use to determine your premiums.
- Are women or men drivers cheaper? - The statistics show women tend to be less risk to insure than men. However, don't assume that females are better drivers. Men and women cause fender benders in similar numbers, but the male of the species tend to have higher claims. They also get higher numbers of serious violations like DUI and reckless driving. Young males are several times more likely to be in an accident and therefore are the most expensive to insure.
- Gaps in coverage mean higher prices - Having an insurance coverage lapse can be a sure-fire way to pay more for insurance. And not only will insurance be more expensive, not being able to provide proof of insurance may result in a revoked license or a big fine. You may then have to provide proof of insurance in the form of an SR-22 filing with the Tennessee DMV.
- Low mileage costs less - The more miles you rack up on your Ford in a year the more it will cost to insure it. Most insurance companies apply a rate based upon how you use the vehicle. Autos not used for work or commuting can get a lower rate than cars that get driven a lot. A policy that improperly rates your Fusion may be costing you. It's a good idea to make sure your insurance declarations sheet states the correct usage.
- Vehicle options can affect premiums - Selecting a car model with a theft deterrent system can help lower your rates. Theft prevention features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems help track and prevent your car from being stolen.
- Occupation impacts rates - Do you work in a high-stress field? Jobs like military generals, police officers, and emergency personnel tend to pay higher premium rates due to high stress levels and lengthy work days. Other occupations such as actors, engineers and performers pay lower than average rates.
- Claims statistics for a Ford Fusion - Insurers factor in insurance loss information to help calculate a profitable premium rate. Vehicles that the data determines to have increased claim numbers or amounts will have a higher premium rate.
The table below shows the actual insurance loss data for Ford Fusion vehicles. For each insurance policy coverage type, the statistical loss for all vehicles, regardless of make or model, is set at 100. Values that are 100 or less suggest losses that are better than average, while numbers that are greater than 100 indicate frequent claims or larger claims.
Ford Fusion Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Ford Fusion 2WD 110 95 108 116 111 105 Ford Fusion 4WD 115 85 120 88 77 71 Ford Fusion Hybrid 125 97 98 92 93 95 Ford Fusion Plug-in Hybrid 128 87 91 88 91 107
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The companies in the list below can provide free rate quotes in Knoxville, TN. If multiple companies are shown, it's highly recommended you get price quotes from several of them to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Fusion S 4-Dr Sedan||$140||$252||$272||$16||$82||$762||$64|
|Fusion SE 4-Dr Sedan||$320||$528||$378||$22||$114||$1,362||$114|
|Fusion Hybrid 4-Dr Sedan||$256||$560||$372||$22||$112||$1,322||$110|
|Fusion SEL 4-Dr Sedan||$160||$304||$278||$16||$82||$840||$70|
|Fusion Sport 4-Dr Sedan||$228||$440||$390||$24||$116||$1,198||$100|
|Fusion SEL AWD 4-Dr Sedan||$136||$272||$278||$16||$82||$784||$65|
|Fusion Sport AWD 4-Dr Sedan||$268||$628||$326||$20||$98||$1,340||$112|
|Get Your Own Custom Quote Go|
Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Premium amounts do not factor in your specific Knoxville location which can decrease or increase coverage rates substantially.
Difference between liability only and full coverage rates
The chart below visualizes the comparison of Ford Fusion yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The prices are based on no accidents or driving violations, $1,000 deductibles, single female driver, and no additional discounts are factored in.
When to drop comprehensive and collision
There is no written rule to delete physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is more than about 10% of the vehicle's replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let's pretend your Ford Fusion book value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $8,000 after paying your deductible. If premium cost is more than $800 annually for full coverage, then it might be time to buy liability only.
There are a few cases where buying only liability insurance is not a good plan. If you haven't satisfied your loan, you must maintain physical damage coverage to protect the lienholder's interest in the vehicle. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not remove full coverage.
Higher deductibles lower rates
The example below illustrates how choosing a deductible and can affect Ford Fusion insurance prices for different age categories. The premium estimates are based on a single male driver, full physical damage coverage, and no discounts are applied to the premium.
Auto insurance cost for men versus women in Knoxville
The example below compares Ford Fusion auto insurance costs for male and female drivers. The rate quotes are based on no accidents or driving violations, comprehensive and collision coverage, $1,000 deductibles, drivers are not married, and no discounts are taken into consideration.
Misconceptions in insurance advertisements
Tennessee consumers can't avoid all the ads that claim the best prices by companies like State Farm and Allstate. They all seem to seem to make the promise that you can save if you change to them.
How does every insurance company offer you a better deal on Ford Fusion insurance in Knoxville? This is the trick they use.
All companies quote their cheapest rates for the driver that will generate a profit. An example of a desirable insured may be between the ages of 30 and 50, insures multiple vehicles, and insures a new vehicle. Anyone who fits those characteristics gets the lowest premium rates and have a good chance to save when they switch companies.
Drivers who do not fit this ideal profile may receive a more expensive rate which results in the customer buying from a different company. The trick is to say "drivers that switch" not "everybody who quotes" can save as much as they claim. That is how insurance companies can claim big savings.
That is why you absolutely need to do a price quote comparison at every renewal. It is impossible to predict which company will provide you with the cheapest Ford Fusion insurance in Knoxville.
Car insurance is not optional in Tennessee
Despite the potentially high cost of Ford Fusion insurance, paying for car insurance serves a purpose in several ways.
- Almost all states have mandatory liability insurance requirements which means you are required to carry a specific level of liability protection in order to get the vehicle licensed. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Fusion has a loan, almost all lenders will require you to have physical damage coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender will be forced to insure your Ford at a much higher premium rate and require you to reimburse them for the much more expensive policy.
- Car insurance protects not only your vehicle but also your financial assets. It also can pay for medical bills for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, will also pay attorney fees in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will pay to repair the damage.
The benefits of buying car insurance definitely exceed the price paid, particularly when you have a large claim. The average driver in Tennessee is overpaying over $855 a year so you should quote your policy with other companies at every renewal to save money.
Affordable Knoxville car insurance rates with discounts
The cost of insuring your cars can be expensive, but you might already qualify for some discounts that you may not know about. Certain reductions will be credited when you purchase, but lesser-known reductions have to be asked for prior to receiving the credit.
- Professional Memberships - Being a member of a qualifying organization is a good way to get lower rates on car insurance.
- Good Student Discount - Maintaining excellent grades can get you a discount of up to 25%. The good student discount can last well after school through age 25.
- E-sign Discounts - Certain insurance companies will give a small break just for signing your application over the internet.
- Distant Student Discount - College-age children who live away from home to go to college without a vehicle on campus can be insured at a reduced rate.
- Air Bag Discount - Cars that have air bags or motorized seat belts could see savings of up to 25% or more.
- Early Renewal Discounts - Some companies give discounts for buying a new policy prior to your current Fusion insurance policy expiring. The savings is around 10%.
- Telematics Discount - Drivers that enable data collection to scrutinize where and when they drive by using a telematic data system like In-Drive from State Farm and Progressive's Snapshot may see discounts as long as the data is positive.
- Theft Deterrent Discount - Cars and trucks optioned with advanced anti-theft systems help deter theft and that can save you a little bit as well.
You should keep in mind that most credits do not apply to all coverage premiums. Most only apply to specific coverage prices like medical payments or collision. So despite the fact that it appears you can get free auto insurance, you won't be that lucky.
Large car insurance companies and their offered discounts are:
- GEICO offers premium reductions for multi-vehicle, good student, federal employee, air bags, and anti-theft.
- Travelers offers discounts including multi-policy, home ownership, student away at school, early quote, payment discounts, and multi-car.
- Nationwide may include discounts for Farm Bureau membership, multi-policy, defensive driving, good student, business or organization, and easy pay.
- Farmers Insurance has discounts for mature driver, switch companies, alternative fuel, early shopping, multi-car, business and professional, and teen driver.
- Esurance may have discounts that include anti-lock brakes, defensive driver, good driver, renters, and Pac-12 alumni.
- State Farm has savings for driver's education, multiple autos, good driver, defensive driving training, and Drive Safe & Save.
- Progressive policyholders can earn discounts including online signing, online quote discount, multi-vehicle, continuous coverage, homeowner, multi-policy, and good student.
- Mercury Insurance offers discounts for ease of repair, professional/association, good driver, multi-policy, type of vehicle, accident-free, and annual mileage.
Double check with each insurance company what discounts are available to you. All car insurance discounts may not apply to policyholders in your area. To locate companies with discount rates in Tennessee, click this link.
Buying insurance from Knoxville insurance agencies
Many drivers still prefer to have an agent's advice and there is nothing wrong with that. Agents can answer important questions and help file insurance claims. The biggest benefit of comparing insurance prices online is that you can find cheap insurance rates and still choose a local agent. Buying from and supporting local agents is still important in Knoxville.
After filling out this simple form, your information is submitted to agents in your area that give free quotes for your business. You never need to drive around since rate quotes are delivered to you directly. In the event you want to get a rate quote from a particular provider, you can always navigate to their website and fill out their quote form.
If you are searching for a good Knoxville insurance agent, you must know there are a couple different agency structures and how they can quote your rates. Agents in Knoxville can either be independent or exclusive. Both provide insurance policies, but it is a good idea to know why they differ since it could factor into your agent selection.
Independent Insurance Agents (or Brokers)
Agents that elect to be independent are not employed by any specific company so they have the ability to put coverage through lots of different companies enabling the ability to shop coverage around. To move your coverage to a new company, your policy is moved internally and you can keep the same agent. If you are comparing rate quotes, you need to include price quotes from multiple independent agents to get the best comparison.
Listed below is a small list of independent insurance agencies in Knoxville that can possibly get you cheap rate quotes.
Exclusive Insurance Agents
Agents that elect to be exclusive are contracted to one company and some examples include Allstate and State Farm. They generally cannot provide rate quotes from other companies so if the price isn't competitive there isn't much they can do. These agents are very knowledgeable on their company's products which helps them sell on service rather than price.
The following is a short list of exclusive agents in Knoxville that can give you comparison quotes.
Choosing an auto insurance agent is decision based upon more than just the quoted price. A good agent in Knoxville will have answers to these questions.
- Which insurance company do they prefer to write with?
- How often do they review coverages?
- Are there any discounts that you might be missing?
- Is the agent CPCU or CIC certified?
- Can you use your own choice of collision repair facility?
- Are they paid to recommend certain coverages?
- Do they reduce claim amounts on high mileage vehicles?
After talking to the agent and getting positive responses to your questions and an affordable coverage quote, most likely you have located a car insurance agent that is a good match to service your policy.
Insurance can get complicated
Always remember that when buying coverage online or from an agent for your vehicles, there isn't really a "perfect" insurance plan. You are unique and your insurance should be unique as well. Here are some questions about coverages that can help discover whether or not you may require specific advice.
- Why am I required to buy liability insurance?
- Which companies are cheaper for teen drivers?
- How much liability do I need to cover my assets?
- What is the ISO rating for a Ford Fusion?
- What is the rate difference between pleasure use and commuting?
- Is my dog or cat covered if injured in an accident?
- Am I covered if my car is in a flood?
If it's difficult to answer those questions but a few of them apply, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area. It only takes a few minutes and may give you better protection.
Shop smart and save
You just learned many tips how you can find affordable Ford Fusion insurance in Knoxville. It's most important to understand that the more you quote Knoxville auto insurance, the more likely it is that you will get a better rate. You may even discover the most savings is with the least-expected company. Regional companies can often insure niche markets at a lower cost as compared to the big name companies such as GEICO and State Farm.
When shopping online for auto insurance, never buy poor coverage just to save money. There are many occasions where an insured dropped uninsured motorist or liability limits and discovered at claim time they didn't purchase enough coverage. Your strategy should be to buy the best coverage you can find at an affordable rate.
Additional information is available at the links below
- Alcohol Impaired Driving FAQ (iihs.org)
- Who Has Cheap Auto Insurance for State Employees in Tennessee? (FAQ)
- How Much is Tennessee Auto Insurance for First-time Drivers? (FAQ)
- What is the Cheapest Car Insurance in Gallatin, Tennessee? (FAQ)
- What Auto Insurance is Cheapest for Teenagers in Tennessee? (FAQ)
- Who Has the Cheapest Tennessee Car Insurance for Ride Shares? (FAQ)
- Vehicle Safety Ratings (iihs.org)
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)