We don’t have to tell you that auto insurance companies don’t want customers comparing rates. Drivers who shop for lower rates are likely to switch companies because there is a good chance of finding a more affordable policy. Remarkably, a study showed that people who routinely shopped for cheaper coverage saved $72 a month compared to those who don’t regularly compare prices.
If finding the most affordable Ford Explorer insurance in New Orleans is your ultimate target, then learning about how to find and compare coverage rates can help you succeed in saving money.
To save the most money, the best way to find more affordable car insurance rates in New Orleans is to regularly compare prices from insurance carriers who can sell car insurance in Louisiana. You can compare prices by following these guidelines.
Step 1: Spend a few minutes and learn about individual coverages and the steps you can take to prevent rate increases. Many risk factors that cause rate increases like getting speeding tickets and a lousy credit rating can be remedied by improving your driving habits or financial responsibility. Read the full article for tips to help prevent high rates and find missing discounts.
Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like GEICO and Allstate, while agents who are independent can give you price quotes for many different companies.
Step 3: Compare the new rates to your existing rates and see if you can save money. If you find better rates and switch companies, make sure coverage does not lapse between policies.
An important part of this process is to try to compare the same liability limits and deductibles on each quote request and and to get price estimates from as many different companies as possible. This guarantees a level playing field and a good representation of prices.
Finding affordable coverage in New Orleans is easy if you know what you’re doing. In essence, every driver who is looking for a better price on auto insurance stands a good chance to find lower prices. But Louisiana drivers must comprehend the way companies set your policy premium because rates are impacted by many factors.
When shopping for Ford Explorer insurance in New Orleans there are multiple ways to obtain and compare prices from different companies. The recommended way to compare Ford Explorer insurance prices consists of shopping online.
When price shopping your coverage, getting more free quotes will enable you to find lower pricing.
The providers in the list below can provide price comparisons in New Orleans, LA. In order to find cheaper car insurance in New Orleans, we suggest you compare several of them to get a more complete price comparison.
Rates and data analysis
The premium information displayed below outlines a range of insurance costs for Ford Explorer models. Knowing how insurance prices are established is important for making decisions when shopping your coverage around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Explorer XLT 2WD||$308||$488||$488||$28||$146||$1,458||$122|
|Explorer Eddie Bauer 2WD||$308||$488||$488||$28||$146||$1,458||$122|
|Explorer XLT 4WD||$308||$488||$488||$28||$146||$1,458||$122|
|Explorer XLT AWD||$308||$488||$488||$28||$146||$1,458||$122|
|Explorer Eddie Bauer 4WD||$348||$592||$488||$28||$146||$1,602||$134|
|Explorer Eddie Bauer AWD||$348||$592||$488||$28||$146||$1,602||$134|
|Explorer Limited 2WD||$348||$592||$488||$28||$146||$1,602||$134|
|Explorer Limited 4WD||$348||$592||$488||$28||$146||$1,602||$134|
|Explorer Limited AWD||$348||$592||$488||$28||$146||$1,602||$134|
|Get Your Own Custom Quote Go|
Data rating is based on married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Louisiana minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Rates do not factor in your specific New Orleans location which can change insurance rates substantially.
Ford Explorer liability-only versus full coverage
The illustration below compares Ford Explorer car insurance costs with and without full coverage. The premium estimates are based on no claims or violations, $250 deductibles, marital status is single, and no discounts are applied.
Deciding between full coverage and liability only
There is no definitive rule that is best for determining when to drop comp and collision coverage, but there is a guideline you can use. If the annual cost of having full coverage is more than around 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let’s assume your Ford Explorer book value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after paying your deductible. If you are currently paying more than $200 annually for full coverage, the it may be a good time to stop paying for full coverage.
There are a few cases where only buying liability is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage on your policy.
Why You Might Pay Higher Rates in New Orleans
Many different elements are considered when you quote your car insurance policy. Most are fairly basic such as traffic violations, although others are less apparent such as your credit history or your financial responsibility.
The list below includes some of the things car insurance companies consider when setting your rates.
Do safer cars cost less to insure? – Vehicles that have high safety ratings tend to be cheaper to insure. Highly rated vehicles protect occupants better and any reduction in injury severity translates into savings for insurance companies and cheaper rates on your policy. If your Ford Explorer scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may pay a lower rate.
Premiums can be impacted by your job – Careers like real estate brokers, architects, and medical professionals generally pay the highest average rates due to job stress and lots of time spent away from family. Conversely, jobs like scientists, athletes and homemakers generally pay rates lower than average.
Women tend to be lower risk – The statistics show that females tend to be a little less risky than males. It does not mean women are BETTER drivers than men. Males and females get in at-fault accidents at a similar rate, but males tend to have more serious accidents. In addition to higher claims, males also get ticketed for serious violations such as DWI and reckless driving. Males from age 16 to 21 have the highest risk to insure and thus pay the highest rates.
The information below shows the comparison of Ford Explorer insurance premiums for male and female drivers. The rate quotes are based on no claims or violations, full coverage, $1,000 deductibles, marital status is single, and no discounts are applied.
Cheaper premiums using theft deterrents – Selecting a car model with anti-theft technology or alarm system can save you a little every year. Theft prevention features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent car theft.
Always keep your policy in place – Driving any period of time without insurance is a big no-no and you will pay a penalty because you let your insurance lapse for non-payment. In addition to paying higher premiums, the inability to provide proof of insurance can result in a steep fine or even jail time.
Premiums go up with performance – The make and model of the car you are buying insurance for makes a huge difference in how high your rates are. The lowest performance passenger cars usually are quite affordable to insure, but the cost you end up paying is determined by many additional factors.
The following data is based on a married female driver age 50, full coverage with $100 deductibles, and no discounts or violations. The data compares Ford Explorer policy rates compared to other models of vehicles that have different performance risks.
Ford Explorer claim statistics – Car insurance companies use past insurance losses when setting rates for each model. Models that have increased losses will be charged more to insure. The table shown below demonstrates the insurance loss data for Ford Explorer vehicles.
For each policy coverage type, the statistical loss for all vehicles as a whole is represented as 100. Values that are 100 or less imply a favorable loss record, while numbers that are greater than 100 indicate higher probability of having a loss or tendency to have higher losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Ford Explorer 4dr 2WD||80||90||79||75||70||82|
|Ford Explorer 4dr 4WD||94||94||97||75||70||85|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insuring your Ford Explorer just makes sense
Despite the high cost, maintaining insurance serves several important purposes.
- Most states have mandatory insurance requirements which means you are required to carry a specific minimum amount of liability in order to drive the car. In Louisiana these limits are 15/30/25 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your Explorer has a lienholder, almost every bank will require that you carry insurance to guarantee loan repayment. If the policy lapses, the bank may insure your Ford at a more expensive rate and force you to reimburse them for the much more expensive policy.
- Auto insurance protects both your car and your personal assets. It will also provide coverage for hospital and medical expenses for yourself as well as anyone injured by you. Liability insurance will also pay to defend you if you are sued as the result of an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of having auto insurance are definitely more than the cost, especially with large liability claims. The average driver in America is overpaying over $810 a year so smart consumers compare quotes once a year at a minimum to be sure current rates are still competitive.