Save Money on Ford Taurus Insurance in New Orleans

Ford Taurus insurance cost image courtesy of QuoteInspector.com

It's an obvious conclusion that insurance companies don't want you to look for a cheaper policy. Drivers who shop rates annually will presumably switch auto insurance companies because of the high probability of finding a cheaper policy. A survey found that consumers who compared prices once a year saved as much as $70 a month compared to other drivers who didn't regularly shop around.

If saving money on Ford Taurus insurance in New Orleans is your ultimate goal, understanding how to shop for insurance premiums can help make the process easier and more efficient.

The best way to get the cheapest Ford Taurus insurance in New Orleans is to begin comparing prices regularly from companies in Louisiana.

1. Spend a few minutes and learn about individual coverages and the factors you can control to keep rates in check. Many rating factors that result in higher rates like accidents, traffic violations, and poor credit history can be improved by making minor changes in your lifestyle. Later in this article we will cover the details to get lower rates and get additional discounts that may be available.
2. Compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while agents who are independent can provide price quotes for a wide range of companies.
3. Compare the new rates to the price on your current policy and determine if cheaper Taurus coverage is available in New Orleans. If you find a lower rate and buy the policy, make sure coverage does not lapse between policies.

The key thing to know about shopping around is that you use identical deductibles and limits on every quote request and and to get price estimates from as many companies as you can. Doing this guarantees a fair rate comparison and a complete price analysis.

Finding a lower price on Ford Taurus insurance is not rocket science. You just have to invest a few minutes getting comparison quotes to see which company has cheaper New Orleans car insurance quotes.

The providers in the list below are our best choices to provide quotes in Louisiana. To get cheap auto insurance in New Orleans, it's highly recommended you compare several of them to get the lowest price.

Ford Taurus detailed coverage information

The information shown below showcases a range of insurance policy prices for Ford Taurus models. Learning a little about how car insurance premiums are determined helps drivers make smart choices when comparing insurance rates.

Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Louisiana minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Prices do not factor in specific location information which can modify premium rates substantially.

The chart below illustrates how choosing a deductible and can impact Ford Taurus insurance prices for each different age group. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.

Illustration showing the impact of accidents and violations

The diagram below illustrates how speeding tickets and fender-benders can affect Ford Taurus auto insurance rates for each different age category. The rates are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.

Full coverage rates vs. liability-only in New Orleans

The diagram below illustrates the comparison of Ford Taurus auto insurance rates with full physical damage coverage compared to only buying liability only. The premium estimates are based on no claims, a clean driving record, $250 deductibles, single status, and no discounts are applied to the premium.

When to eliminate full coverage

There is no set rule for phasing out full coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of the vehicle's replacement cost less your deductible, then you might consider buying liability only.

For example, let's pretend your Ford Taurus claim settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after the policy deductible has been paid. If it's costing you more than $800 annually to have full coverage, then it may be the right time to buy liability only.

There are some scenarios where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle in the even your car is totaled, you should maintain full coverage.

Decisions You Make Can Impact Your Insurance Premiums

It's important that you understand a few of the rating criteria that play a part in calculating the level of your policy premiums. If you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that could help you find lower rates. Lots of factors are used in the calculation when premium rates are determined. Most are fairly basic like an MVR report, although some other factors are not as apparent such as your credit history or your vehicle rating.

Shown below are some of the things utilized by car insurance companies to help set rates.

• Performance makes a difference - The performance of the car, truck or SUV you need to insure makes a substantial difference in your car insurance bill. The best insurance prices will generally be found on smaller low performance passenger cars, but many other things help determine your insurance rates.

  The chart below assumes a single male driver age 20, full coverage with $100 deductibles, and no discounts or violations. It compares Ford Taurus car insurance rates compared to other vehicles that have different performance risks.
• Marriage is a factor - Your spouse can actually save you money on insurance. It means you're more stable financially and it's proven that drivers who are married are more cautious.
• Safety ratings are a factor - Vehicles with high crash test scores tend to have lower insurance rates. Safer cars protect occupants better and fewer injuries means your insurance company pays less which can mean better rates for you. If the Ford Taurus has ratings of a 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 be receiving a better rate.

• Teenage drivers pay more - Youthful drivers in Louisiana are statistically proven to get distracted easily when driving so they pay higher insurance rates. Adding a beginning driver to your policy can cause a big jump in price. Older drivers are more responsible, tend to file fewer claims, and get fewer tickets.

  The following data is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
• More traffic means higher claims - Choosing to live in less populated areas can be a good thing when talking about insurance. Less people means a lower chance of having an accident and lower theft and vandalism rates. Residents of big cities tend to have more aggressive driving styles and much longer commute distances. More time on the road means higher likelihood of an accident.
• Save money by raising deductibles - Comprehensive and collision coverage deductibles tell how much the insured will be required to pay if a covered claim is submitted. Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Some examples of covered claims would be collision with another vehicle, fire damage, and having a roll-over accident. The more money the insured is willing to pay, the less your company will charge you for insurance.

• Insurance loss data for Ford Taurus vehicles - Insurers use data from past claims when they calculate premium rates for each model. Models that the data shows to have high amounts or severity of claims will cost more for coverage. The next table illustrates the actual insurance loss data for Ford Taurus vehicles.

  For each policy coverage type, the statistical loss for all vehicles compiled together is represented as 100. Numbers that are below 100 suggest a positive loss record, while percentages above 100 indicate more frequent claims or an increased chance of a larger loss.

  Insurance Loss Ratings for Ford Taurus Vehicles

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Ford Taurus 2WD	109	88	134	115	115	101
  Ford Taurus 4WD	120	78	141	124
  Ford Taurus SHO 4WD	143	96	185	84	103

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

It may be expensive, but it's not optional

Despite the high cost of buying insurance for a Ford Taurus in New Orleans, insuring your vehicle may be mandatory for several reasons.

First, just about all states have mandatory insurance requirements which means you are required to buy a specific level of liability protection in order to license the vehicle. 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.

Second, if your Taurus has a lienholder, almost all lenders will require you to have insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may insure your Ford for a much higher rate and force you to pay for the much more expensive policy.

Third, insurance protects both your Ford and your personal assets. Insurance will pay for medical bills for not only you but also any passengers injured in an accident. Liability insurance also pays expenses related to your legal defense if you are sued as the result of your driving. If mother nature or an accident damages your car, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.

The benefits of insuring your Taurus greatly outweigh the cost, particularly when you have a large claim. But the average American driver overpays more than $865 each year so it's very important to do a rate comparison at every renewal to be sure current rates are still competitive.