Understanding Ford F-150 Insurance Costs: What You Need to Know
When considering the purchase of a Ford F-150, it’s essential to factor in the cost of insurance. As one of the most popular, best-selling trucks in the US, the Ford F-150 is a national favorite for its performance, durability, and versatility. However, understanding the Ford F-150’s insurance costs can help you appropriately budget and avoid surprises down the road. This comprehensive guide by Palmetto Ford will delve into the average insurance cost for the Ford F-150 and explore factors that influence these costs.
What Determines Ford F-150 Insurance Costs?
Location: One of the most significant factors that impact Ford F-150 insurance costs is where you live. If you reside in a more populated, urban area, your insurance costs will be higher due to increased risks of vandalism or accidents. Certain states also require drivers to have personal injury protection, which will assist in the payment of medical bills if you or another passenger is in an accident.
Driver’s History: When determining your Ford F-150’s insurance cost, your driving record and history are very important. From speeding tickets to more serious violations, each one you receive has the ability to raise your rates. The best way to prevent high costs is to maintain a clean driving record and stay safe on the roads.
Age: Your age is also something that is taken into consideration when deciding your Ford F-150’s insurance costs. Younger drivers under twenty-five tend to be accident-prone and take more risks when behind the wheel compared to experienced drivers. Similarly, older drivers over seventy statistically are also likely to get in accidents
Gender: In most states, the gender on your driver’s license also impacts your Ford F-150 insurance costs. For the most part, men are more likely to get into an accident in comparison to women. Although, there are states that do not allow gender to determine your Ford F-150 insurance costs. Be sure to do your research and see if your state falls on that list.
Credit History: If you have a lower credit score, your Ford F-150 insurance costs will likely be higher than someone with a high credit score. Often, lower credit scores are associated with young age, poor habits, etc.
Marital Status: In all states besides Michigan and Massachusetts, your marital status has a direct impact on your Ford F-150 insurance costs. Drivers who are married typically pay less than those who are single. This is because insurance companies typically view married drivers as safer and can also qualify for vehicle bundling or multi-vehicle discounts.
Average Insurance Cost for Ford F-150
The average insurance cost for a Ford F-150 can vary widely based on the factors mentioned. However, to give you a general idea, the national average for a Ford F-150 is approximately $87 per month, and, according to The Zebra, 31% of drivers insure their Ford F-150 with state liability coverage only.*
Tips to Reduce Your Ford F-150 Insurance Costs
Shop Around for Quotes: Between providers, insurance premiums can vary significantly, so it’s absolutely vital to shop around and compare quotes from multiple insurers. Resources like online comparison tools can make the process much simpler and help you find the best deal.
Take Advantage of Available Discounts: Many insurance companies offer discounts for a number of reasons, such as bundling multiple policies (home and auto). Make sure to ask about available discounts when obtaining quotes.
Maintain a Good Driving Record: A clean driving record is one of the most effective and easiest ways to keep your insurance costs down. Avoiding things like accidents and traffic violations will help you maintain lower premiums over time.
Stay In The Know
Understanding the factors that influence Ford F-150 insurance costs can help you make an informed decision when purchasing your next truck at Palmetto Ford. By considering the average insurance cost for a Ford F-150 and taking steps to reduce your premiums, you can enjoy the benefits of owning one of the best Ford pickup trucks without breaking the bank. If you’re in the market for a Ford F-150, schedule a test drive at Palmetto Ford today to begin the process!
*The estimates below and above are based on our sample driver profile — a 30-year-old single male driving a Ford F-150 with full coverage. Depending on your coverage level, driving history and state, your individual costs will vary.
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