Finding the cheapest auto insurance for a Ford Escape can be really easy, but it is dependent upon a complicated formula that considers factors such as the safety rating for your Escape, your credit history, and your driving record. New Mexico drivers will pay on average $847 a year to insure their Escape, but that price is based upon a 50-year-old single male driver with full comprehensive and collision coverage and $250 deductibles.
The problem with using this number is the good chance you’re not a 50-year-old male, possibly married instead of single, or maybe your Escape is old enough that it doesn’t require full coverage. Everone’s needs are different, and this illustrates why the way we recommend to find the most affordable coverage for your Ford is to put in the effort to do a thorough rate comparison.
Cheapest Ford Escape Insurance Rates
The specific trim level has an effect on the insurance rate, so the cost to insure a Escape XLS 2WD will be $104 less than the cost to insure the fancier Escape Limited 4WD model, as shown in the chart below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Escape XLS 2WD | $186 | $356 | $310 | $18 | $92 | $962 | $80 |
| Escape XLS 4WD | $186 | $356 | $310 | $18 | $92 | $962 | $80 |
| Escape XLT 2WD | $186 | $356 | $310 | $18 | $92 | $962 | $80 |
| Escape Limited 2WD | $214 | $356 | $310 | $18 | $92 | $990 | $83 |
| Escape XLT 4WD | $214 | $356 | $310 | $18 | $92 | $990 | $83 |
| Escape Limited 4WD | $214 | $432 | $310 | $18 | $92 | $1,066 | $89 |
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Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New Mexico minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Price estimates do not factor in the specific area where the vehicle is garaged which can revise premium rates considerably.
Shopping around for cheap car insurance is hard enough, and figuring out which companies offer the cheapest insurance rates for a Ford Escape requires even more rate comparisons. Each insurance company uses their own calculation to set policy rates, so we’ll go over the insurance companies with the most affordable rates in Albuquerque, NM.
We do need to point out that Albuquerque, NM insurance rates are based on many factors that can increase the cost of your policy. This is why it is important to compare as many rates as possible to get the most budget-friendly car insurance quotes for a Ford Escape. Car insurance prices are determined by many factors and can change without notice, so the lowest-price company two years ago may now be one of the more expensive options.
Compare Cheap Insurance Quotes for Your Escape
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $677 |
| 2 | Allied | $948 |
| 3 | Safeco | $974 |
| 4 | Farm Bureau Mutual | $1,178 |
| 5 | Farmers | $1,276 |
| 6 | State Farm | $1,297 |
| 7 | The Hartford | $1,366 |
| 8 | Central Mutual | $1,368 |
| 9 | Travelers | $1,537 |
| 10 | Progressive | $1,550 |
| 11 | GEICO | $1,576 |
| 12 | California Casualty | $1,591 |
| 13 | MetLife | $1,626 |
| 14 | Encompass | $1,643 |
| 15 | Allstate | $2,385 |
| 16 | Liberty Mutual | $2,554 |
| 17 | Sentry | $3,176 |
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USAA offers some of the most affordable car insurance rates in Albuquerque at around $677 annually. Allied, Safeco, Farm Bureau Mutual, and Farmers would also make the list of some of the most economical Albuquerque, NM insurance companies.
As shown above, if you are a customer of Allied and switched to USAA, you may see yearly savings of in the neighborhood of $271. New Mexico drivers with Safeco could save as much as $297 a year, and Farm Bureau Mutual policyholders might realize rate reductions of up to $501 a year.
To find the cheapest rates for your vehicle, click here to start a quote or visit any of the low-priced companies below.
Bear in mind that those prices are averaged for all ages of drivers and types of vehicles and are not factoring in an exact zip code location for a Ford Escape. So the insurer that fits your age and vehicle best may not even be in the top 17 companies in the list above. That is why you need to compare prices as often as possible using your own driver data and vehicle information.
The information below illustrates how your choice of deductibles can influence insurance costs when trying to find cheap insurance for a Ford Escape. The data assumes a married female driver, comp and collision included, and no discounts are factored in.
In the chart above, a 40-year-old driver could reduce rates by $262 a year by increasing from a $100 deductible to a $500 deductible, or save $396 by choosing a $1,000 deductible. Young drivers, like the 20-year-old, could reduce their rates $652 every year just by choosing larger deductibles.
If you make the decision to raise deductibles, it will be necessary to have plenty of money set aside to enable you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Rate difference between full and liability-only coverage
Paying a lower price for insurance is probably important to the majority of vehicle owners, and a good way to find cheap insurance for a Ford Escape is to only buy liability insurance. The example below visualizes the comparison of premium costs with full physical damage coverage compared to only buying liability only. The premiums are based on no violations or claims, $100 deductibles, drivers are single, and no discounts are factored in.
If all age groups are averaged, full coverage on your policy costs an additional $2,058 per year more than insuring for liability only. Lot’s of drivers question when is it a good idea to stop buying full coverage. There is no exact rule of when to phase out full coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
There are some circumstances where eliminating full coverage is not advised. If you haven’t paid off your loan, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not opt for liability only.
How to find budget-friendly auto insurance for a Ford Escape
Below you’ll find many penny-pinching ideas that can help you buy cheap coverage.
- Buy a safer vehicle
- Higher credit ratings may save you money
- Drive attentively and avoid accidents
- Keep your driving record clean
- Increase your physical damage deductibles
- Check for cheaper rates once a year
That final tip is extremely important, as we stressed in this write-up. Coverage prices in Albuquerque can be changed at any time, so drivers shouldn’t be reluctant to switch to a new company if you find a cheaper price. Having a favorite company is fine, but we do not recommend it if that devotion results in you overpaying a lot of money every month. In just a few minutes you could compare prices to find cheaper auto insurance for a Ford Escape.