If your goal is the lowest price, then the best way to get low-cost auto insurance rates is to do an annual price comparison from providers in Louisville. Price quotes can be compared by completing these steps.
- Spend a few minutes and learn about how insurance companies determine prices and the modifications you can make to prevent expensive coverage. Many rating criteria that increase rates like traffic citations and poor credit history can be remedied by improving your driving habits or financial responsibility. This article gives tips to lower rates and find more discounts that you may not know about.
- Compare rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from a single company like GEICO or Allstate, while independent agencies can give you price quotes from multiple insurance companies. View prices
- Compare the new rate quotes to the price on your current policy to see if a cheaper rate is available. If you can save money, ensure coverage does not lapse between policies.
- Provide notification to your current agent or company of your intent to cancel your existing policy. Submit a completed policy application and payment for the new coverage. Once coverage is bound, keep the new proof of insurance certificate in your vehicle’s glove compartment or console.
An essential thing to point out is to make sure you’re comparing the same level of coverage on each quote and and to compare as many different insurance providers as possible. This helps ensure a fair price comparison and the most accurate and complete price analysis.
Unbelievable but true according to a study nearly 70% of Kentucky drivers have bought car insurance from the same company for at least the last four years, and just short of a majority have never quoted rates to find cheaper coverage. Consumers in America could pocket $860 a year by just comparing rate quotes, but they don’t want to spend time to compare rates online.
Get More Affordable Insurance Premiums by Understanding These Factors
Consumers need to have an understanding of some of the factors that go into determining your premiums. If you have some idea of what controls the rates you pay, this enables informed choices that can earn you lower auto insurance prices.
Listed below are some of the most rate-impacting factors that factor into your premiums.
Consolidate policies and save money – Lots of insurance companies apply a discount to customers who consolidate policies with them in the form of a multi-policy discount. The discount can be as much as ten percent or more Even if you’re getting this discount you still need to check prices from other companies to ensure the best deal. It’s possible to still save even more than the discount by buying auto insurance from a different company.
Eliminate unneeded incidental coverages – Policies have additional coverages that you can get tricked into buying on your Fusion Hybrid policy. Insurance for personal injury protection, high-cost glass coverage, and additional equipment coverage are examples of these. They may seem like a good idea at first, but if you’ve never needed them in the past think about removing them and cutting costs.
Which gender costs less? – Statistics demonstrate females are less aggressive when driving. This data doesn’t prove that women are better drivers. Women and men are responsible for auto accidents in similar numbers, but the male of the species cause more damage. They also receive more major tickets such as DWI and reckless driving.
The illustration below shows the comparison of Ford Fusion Hybrid premium costs for male and female drivers. The prices are based on no tickets, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, single marital status, and no additional discounts are factored in.
Coverage lapses raise prices – Having a lapse in insurance coverage can be a fast way to drive up your policy premiums. And not only will your rates increase, being ticketed for driving with no insurance could earn you fines or a revoked license. You could then be forced to file a SR-22 with the Kentucky motor vehicle department to get your license reinstated.
Liability coverage limits on your policy – Liability insurance kicks in when you are ruled to be at fault for causing personal injury or damage in an accident. Liability insurance provides legal defense which can cost a lot. It is affordable coverage when compared to the cost of physical damage coverage, so buy as much as you can afford.
Stay claim-free and reduce prices – If you frequently file small claims, you can look forward to either higher rates or even cancellation. Companies in Kentucky provide cheaper rates to policyholders who do not rely on their insurance for small claims. Your insurance policy is intended for more catastrophic claims.
Ford Fusion Hybrid insurance loss probability – Car insurance companies factor in historical loss data to help calculate a profitable premium price. Vehicles that statistically have high amounts or severity of claims will cost more for specific coverages. The table below illustrates the collected loss data for Ford Fusion Hybrid vehicles.
For each policy coverage, the claim probability for all vehicles as a whole is considered to be 100. Numbers below 100 suggest a better than average loss history, while values that are 100 or greater point to more losses or tendency to have higher losses.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Ford Fusion Hybrid | 125 | 97 | 98 | 92 | 93 | 95 |
Statistics from IIHS.org for 2013-2015 Model Years
Rates and detailed analysis
The information displayed below covers estimates of prices for Ford Fusion Hybrid models. Being aware of how insurance prices are figured helps drivers make smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Fusion Hybrid 4-Dr Sedan | $152 | $356 | $462 | $28 | $138 | $1,136 | $95 |
| Get Your Own Custom Quote Go | |||||||
Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Premium amounts do not factor in specific Louisville garaging location which can decrease or increase coverage prices greatly.
How high should deductibles be?
When shopping for auto insurance, a common question is how high should your deductibles be. The following insurance rates can help you understand the difference in cost when you select higher and lower insurance deductibles. The first rate quote example uses a $100 physical damage deductible and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Fusion Hybrid 4-Dr Sedan | $318 | $688 | $408 | $24 | $122 | $1,585 | $132 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Fusion Hybrid 4-Dr Sedan | $176 | $362 | $408 | $24 | $122 | $1,092 | $91 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Information does not factor in vehicle garaging location which can influence coverage prices noticeably.
Based on this data, using a $100 deductible would cost the average driver about $41 more each month or $492 for a full year than quoting the higher $1,000 deductible. Because you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average at a minimum 22 months between claims, you would probably save some money if you opt for a higher deductible. The table below illustrates the way you can make your own decision.
| Average monthly premium for $100 deductibles: | $132 |
| Average monthly premium for $1,000 deductibles (subtract): | – $91 |
| Monthly savings from raising deductible: | $41 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $41 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 22 months |
An important thing to remember is that a higher deductible means you will have to pay more out-of-pocket when you have a comprehensive or collision claim. You need some available funds in the event you have to pay the higher deductible.
Rate comparison of full coverage and liability-only
The diagram below compares Ford Fusion Hybrid insurance rates when comparing full coverage to liability only. The information is based on no tickets, no at-fault accidents, $250 deductibles, drivers are single, and no additional discounts are factored in.
When to stop buying full coverage
There isn’t a written rule to exclude full coverage, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s assume your Ford Fusion Hybrid replacement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company will settle for is $8,000 after paying your policy deductible. If you are paying over $800 annually to have full coverage, then it’s probably a good time to buy liability coverage only.
There are some cases where dropping physical damage coverage is not advised. If you still owe money on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Cheap Louisville car insurance rates with discounts
Companies don’t necessarily list their entire list of discounts in a way that’s easy to find, so the below list has a few of the more common and also the lesser-known savings tricks you should be using when you buy Louisville auto insurance online.
- Seat Belts Save – Forcing all vehicle occupants to use a seat belt may be able to save a few bucks on the premium charged for medical payments and/or PIP.
- Driver’s Ed – Reduce the cost of insurance for teen drivers by having them successfully take a driver’s education course in high school.
- Theft Deterrent Discount – Vehicles that have factory alarm systems and tracking devices help deter theft and earn discounts up to 10% off your Louisville auto insurance quote.
- Home Ownership Discount – Being a homeowner may earn you a small savings since owning and maintaining a home is proof that your finances are in order.
- Save with More Vehicles Insured – Buying insurance for all your vehicles on one policy qualifies for this discount.
- E-sign – Many insurance companies provide a small discount just for signing your application on the web.
You can save money using discounts, but some credits don’t apply to the entire cost. Most only cut the price of certain insurance coverages like liability and collision coverage. Despite the fact that it seems like you would end up receiving a 100% discount, it’s just not the way it works.
The illustration below illustrates the difference between Ford Fusion Hybrid car insurance costs with and without some available policy discounts. The price estimates are based on a male driver, no claims or driving citations, Kentucky state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, safe-driver, multi-car, claim-free, and marriage discounts applied.
To choose insurance companies offering car insurance discounts in Kentucky, click this link.
Persistent drivers can save
When shopping online for auto insurance, it’s a bad idea to buy less coverage just to save a little money. In too many instances, an insured cut uninsured motorist or liability limits only to regret that it was a big error on their part. Your focus should be to find the BEST coverage at the lowest possible cost while not skimping on critical coverages.
We covered many tips how you can save on Ford Fusion Hybrid insurance in Louisville. It’s most important to understand that the more rate quotes you have, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest prices are with the smaller companies.
The cheapest Ford Fusion Hybrid insurance in Louisville is possible online and from local agencies, so you should compare both so you have a total pricing picture. Some insurance companies do not offer online rate quotes and most of the time these smaller companies only sell coverage through independent agents.
More resources
- Insuring a Leased Car (Insurance Information Institute)
- Who Has Cheap Auto Insurance for Teachers in Louisville? (FAQ)
- Who Has Cheap Car Insurance Rates for a 20 Year Old Male in Louisville? (FAQ)
- Credit Impacts Car Insurance Rates (State Farm)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Bodily Injury Coverage (Liberty Mutual)