Ford Flex Insurance Rates in Oklahoma City

Smart shoppers know that car insurance companies want to keep you from comparing rates. Consumers who shop around once a year are highly likely to switch insurance companies because there is a high probability of finding good coverage at a lower price. A recent study showed that people who make a habit of shopping around saved on average $3,450 over four years compared to people who never shopped around.

If finding the cheapest rates on Ford Flex insurance in Oklahoma City is your goal, then knowing how to choose a company and compare insurance premiums can save money and time.

It takes a little time, but the best way to get more affordable Ford Flex insurance in Oklahoma City is to start doing an annual price comparison from different companies who can sell car insurance in Oklahoma. Rate comparisons can be done by completing these steps.

Step 1: Take a little time to learn about coverages and the measures you can control to keep rates low. Many risk factors that drive up the price like speeding and a low credit score can be improved by paying attention to minor details. This article gives additional tips to get affordable coverage and find overlooked discounts.

Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from a single company like Progressive and State Farm, while agents who are independent can provide rate quotes from multiple insurance companies.

Step 3: Compare the new rate quotes to your existing rates to determine if switching companies saves money. If you can save some money and make a switch, ensure coverage does not lapse between policies.

Step 4: Provide proper notification to your current company to cancel your current car insurance policy. Submit the required down payment along with the signed application to your new company or agent. Once received, put the new certificate verifying proof of insurance in a readily accessible location in your vehicle.

The most important part of shopping around is to compare the same coverage limits and deductibles on each price quote and and to get price quotes from as many car insurance companies as possible. This helps ensure the most accurate price comparison and a thorough price selection.

Ford Flex insurance analysis

The rate information displayed below highlights detailed analysis of insurance costs for Ford Flex models. Understanding more about how rates are determined can help drivers make decisions when shopping your coverage around.

Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Rates do not factor in the specific area where the vehicle is garaged which can alter coverage rates substantially.

How high should deductibles be?

One of the most common car insurance questions is which comprehensive and collision deductibles to buy. The comparisons below summarize the cost difference between low and high insurance deductibles. The first data set uses a $100 deductible and the second price table uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Prices do not factor in the specific area where the vehicle is garaged which can impact price quotes significantly.

Based on the above data, using a $100 deductible costs roughly $34 more each month or $408 for a full year across all Ford Flex models than buying the higher $500 deductible. Because you would be required to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you normally average more than 12 months between claim filings, you would come out ahead going with the higher deductible.

One thing to be aware of is that raising deductibles to save money results in a higher out-of-pocket expense when you have a physical damage claim. You need to have some non-essential savings in the event you have to pay the deductible to have repairs made.

The information below illustrates how your deductible choice and can increase or decrease Ford Flex insurance costs for each age group. The prices are based on a married male driver, comp and collision included, and no discounts are applied.

Comparison of car insurance rates by gender

The example below illustrates the comparison of Ford Flex insurance premiums for male and female drivers. The costs are based on no claims or driving violations, full coverage, $500 deductibles, drivers are not married, and no discounts are taken into consideration.

Ford Flex liability-only versus full coverage

The illustration below illustrates the comparison of Ford Flex auto insurance rates with full coverage and liability only. The premiums are based on a clean driving record, no at-fault accidents, $1,000 deductibles, marital status is single, and no other discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no specific rule of when to stop paying for physical damage insurance, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let’s say your Ford Flex replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after you pay the deductible. If it’s costing in excess of $300 a year to have full coverage, then it could be time to drop full coverage.

There are a few situations where eliminating full coverage is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.

Insurance coverage considerations

Understanding the coverages of your insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring.

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and damage to your Ford Flex.

Since a lot of drivers have only the minimum liability required by law (which is 25/50/25), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Normally the UM/UIM limits are similar to your liability insurance amounts.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses for rehabilitation expenses, EMT expenses and X-ray expenses. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Collision coverage protection

This coverage covers damage to your Flex resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like sideswiping another vehicle, crashing into a building, sustaining damage from a pot hole, colliding with a tree and scraping a guard rail. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to choose a higher deductible on your Flex to bring the cost down.

Auto liability

Liability insurance provides protection from damage or injury you incur to other people or property in an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and property damage coverage for $25,000. Another option is one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability can pay for claims like medical services, emergency aid and funeral expenses. How much liability should you purchase? That is a personal decision, but buy as much as you can afford. Oklahoma state law requires minimum liability limits of 25/50/25 but you should consider buying higher limits.

The illustration below shows why buying low liability limits may not be adequate.

Comprehensive insurance

Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like a broken windshield, falling objects, hitting a deer and rock chips in glass. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Cover all your bases

As you shop your coverage around, don’t be tempted to buy lower coverage limits just to save a few bucks. There are many occasions where an insured dropped liability limits or collision coverage only to discover later that their decision to reduce coverage ended up costing them more. The aim is to get the best coverage possible at the best possible price while still protecting your assets.

Drivers leave their current company for a number of reasons such as delays in paying claims, unfair underwriting practices, questionable increases in premium or even high prices. It doesn’t matter what your reason, finding a new auto insurance company can be easy and end up saving you some money.

We just presented many ideas to reduce Ford Flex insurance rates online in Oklahoma City. The most important thing to understand is the more price quotes you have, the better your comparison will be. Consumers could even find that the best rates are with some of the smallest insurance companies.

Additional resources

• Credit and Insurance Scores (Insurance Information Institute)
• What Insurance is Cheapest for Teenagers in Oklahoma City? (FAQ)
• Who Has Affordable Auto Insurance Rates for Felons in Oklahoma City? (FAQ)
• Who Has the Cheapest Car Insurance for Infrequent Drivers in Oklahoma City? (FAQ)
• Senior Drivers (Insurance Information Institute)
• Bodily Injury Coverage (Liberty Mutual)
• How Does Hitting a Deer Impact Insurance Rates? (Allstate)
• What does Personal Injury Protection (PIP) Cover? (Allstate)