How Much Does It Cost To Insure A Ford?
Aside from your home, your vehicle is among your most significant purchases.
A great insurance policy that covers your vehicle, whether it’s vandalized, damaged due to a natural disaster or totaled in a collision, is a worthwhile investment.
The cost of your auto insurance policy is affected by a wide variety of factors, some of them seemingly unrelated to your driving habits, such as your age, marital status, and area of residence.
Other factors, on the other hand, relate directly to your driving, such as the extent of your driving experience, the number of traffic violations on your record, and the make and model of your vehicle.
To accurately calculate your Ford insurance cost, you need to understand how insurance companies weigh the risks involved in insuring your vehicle.
How Much Does Ford Insurance Cost, On Average?
Ford insurance costs are generally mid-range, though premiums vary widely based on vehicle model and options.
For example, vehicles with advanced safety features are less likely to be involved in a collision and are generally cheaper to insure.
Below, you’ll find a breakdown of the factors that influence the cost of Ford insurance, along with some key pointers to keep in mind about Ford vehicles.
Safety Rating and Damage Threshold
According to the Insurance Institute for Highway Safety, or IIHS, the base model 2018 Ford Escape received a good score across four of the eight safety ratings as well as an acceptable rating for the driver-side small overlap frontal crash test and a poor rating for the passenger-side small overlap frontal crash test.
In contrast, the 2018 Ford Fusion, which was the 2017 Top Safety Pick, received a good score across all levels of safety ratings.
Because a driver is less likely to sustain serious injuries in a vehicle with good safety ratings, the cost of insurance may be lower for Fusion models.
Mid-size Ford SUVs received average ratings for insurance loss, meaning that in the event of an accident, repair and replacement costs are similar to other vehicles.
Because the safety ratings of different models and trim packages vary greatly, it’s important to speak with your insurance provider to get an accurate Ford insurance quote.
Comprehensive and Collision Coverage
When shopping around for a Ford insurance policy, it’s important to keep in mind that your premiums will reflect the cash value of your vehicle.
Kelley Blue Book, which is a vehicle valuation and automotive research company, provides estimates on the value of vehicles depending on their age and condition ratings.
According to its research, a 2017 Ford Fusion with the standard trim package is valued at roughly $21,000, while a 2018 Ford F250 Super Duty Super Cab XL is priced at about $37,000.
Because your insurance provider partially bases your premium on how much it would cost to pay out the full cash value of your vehicle if it were totaled in a collision, the value of your vehicle heavily influences the cost of your coverage.
Claims Frequency & Potential to Cause Damage
While any driver of any vehicle could be involved in an accident, statistically, some vehicles are more likely to be involved in a collision.
Furthermore, some cars are more likely to cause extensive damage to another vehicle, which can drive up the cost of collision insurance.
Auto insurance providers calculate claims frequency and a vehicle’s potential to cause damage when determining a policyholder’s premium.
According to the IIHS, midsize Ford SUVs have an average score for collision insurance, while large Ford pickups scored substantially better than average.
Most auto insurance providers offer discounts to eligible policyholders for such things as good driving, having multiple vehicles on a policy, and automatic online bill payments.
For many policyholders, having a vehicle with the latest safety equipment is another great way to bring down the cost of premiums.
Systems like blind spot detection, lane-departure warning, and rearview cameras can help you avoid an accident, making you a lesser risk to insure.
Ford offers a variety of state-of-the-art safety features, including:
- Lane-keeping alert and aid
- Pothole mitigation technology
- Blind spot warning system
- Forward collision warning with brake support
Safety features like these may or may not come standard on all Ford models, so it’s important to let your insurance agent know what safety features your vehicle is equipped with.
Getting a Quote: Who Are the Best Companies for Ford Insurance?
When it comes to finding the best coverage at the best price available to you for any vehicle, including Ford vehicles, it’s important to obtain quotes from at least three different auto insurance providers and read reviews to determine if they’re well-suited for your needs.
Different companies offer different coverage options, limits, and discounts.
However, while price is a key factor to consider, you should also think about the following:
- An insurer’s financial health
- How claims are filed and processed
- How many justified complaints it has received
Prior to contacting an insurance agent, it’s important to have a list of questions prepared regarding the claims process as well as available coverages and discounts.
You should also have information on your vehicle’s model, trim package, safety features, and mileage so that the agent you speak with can provide you with an accurate insurance quote.
What Else to Know About Your Ford
Henry Ford established the Ford Motor Company in 1903 with the help of 12 investors who put $28,000 toward the new company.
By the time the first Ford vehicle was sold in July of that year, nearly all of the investment had been spent.
By October of the same year, Ford turned a profit of $37,000.
Through the years, Ford has made a significant impact on the industry.
In 2004, the company introduced the first American-manufactured hybrid electric SUV, and it continues to strive towards producing more fuel-efficient vehicles.
It has received many corporate and product awards, including being named among the World’s Most Ethical Companies and being recognized among Vincentric’s Best Fleet Value in America.
Now that you understand the factors that influence Ford insurance and what you should look for in an insurance company, you can choose the best coverage for your needs.
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