Compare the Cost of Ford Explorer Insurance by Model Year and Company
Compare Rates and Save on Car Insurance
By, Content Director
Ford Explorer car insurance rates vary depending on the driver’s age and the car model year. Younger drivers pay higher rates, with a full coverage policy for a 16-year-old costing an average of $6,052 per year, $4,733 more than a 40-year-old driver pays. Older models are cheaper to insure, with a 2009 model averaging $1,181 per year, $309 less than the average cost for a 2022 model.
MoneyGeek also rated the best providers that offer a balance of cost, quality service and claims experience.
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Average Cost and Cheapest Companies for Insuring a Ford Explorer
The average cost of Ford Explorer car insurance is $1,355 per year, but your choice of insurer can impact rates considerably. State Farm offers the cheapest rates for a full coverage policy at $1,059 per year, while Farmers is the most expensive insurer at $1,514 per year.
For a state minimum policy, State Farm is the cheapest car insurance provider at an average of $474 per year, while Farmers is the most expensive at $739 per year.
Is a Ford Explorer Expensive to Insure?
Car insurance companies consider different factors to determine insurance costs. The Ford Explorer is relatively cheap to insure compared to other car models. The car’s good safety record and low theft rates lower the risk to insurers. Ford Explorers also have relatively low repair costs, contributing to their inexpensive insurance rates.
Best Companies for Insuring a Ford Explorer
In addition to being affordable, the best Ford Explorer insurance provider will offer quality customer service and claims management.
Moneygeek found that the best car insurance companies for a Ford Explorer are:
- State Farm: MoneyGeek score 90 out of 100 ($1,059 per year)
- GEICO: MoneyGeek score 86 out of 100 ($1,218 per year)
State Farm ranked first for affordability and second for customer satisfaction offering
MoneyGeek Top Pick: State Farm
Most affordable insurer
Second-highest customer satisfaction score
Below-average claims rating
State Farm is the best Ford Explorer insurance provider, offering a great balance of cost and quality service. State Farm had the highest affordability score among the seven insurers analyzed and ranked second in customer satisfaction.
Although State Farm has limited add-on coverages, it offers essential add-ons like roadside assistance. This coverage covers emergency services like towing or mechanical labor if your Ford Explorer breaks down. Services like gas, battery or oil delivery are also covered, although the policyholder must pay for the cost of the delivered item.
State Farm also provides rental car or travel reimbursement coverage that covers expenses incurred while your car is repaired for a covered incident. These costs include rental car fees and accommodations and meals if you are away from home, up to $500.
MoneyGeek Runner-Up: GEICO
Ranked second for affordability
High customer satisfaction score
Broad coverage options, including Mechanical Breakdown Insurance (MBI)
Low claims score
No gap insurance offered
GEICO has high customer satisfaction ratings, the second most affordable rates, and unique add-on coverages. For example, If your Ford Explorer is less than 15 months old and has less than 15,000 miles, GEICO’s Mechanical Breakdown Insurance (MBI) is a valuable add-on. This coverage protects all your car’s parts and systems at a lower price than the average dealer extended warranty.
GEICO also offers accident forgiveness which protects you from premium hikes after your first at-fault accident within a specified period. Policyholders can also earn this coverage if they remain accident-free for five or more years.
The insurer provides roadside assistance, which covers emergency services like towing, mechanical labor and rental car reimbursement. GEICO’s rental car reimbursement pays for a rental if your vehicle isn’t driveable for more than 24 hours due to a covered incident.
Cost of Insuring a Ford Explorer by Model Year
The average cost of car insurance for a Ford Explorer varies by model year, with a 2009 model averaging $1,181 per year and a 2022 model costing $1,489, or $308 more. Typically, older models are cheaper to insure because they decrease in value over time.
The vehicle model and the insurer affect the average cost of car insurance for a Ford Explorer. State Farm is the cheapest insurer for a 2009 model at $896 per year and the most affordable option for a 2022 model at $1,199 per year.
Cost of Insuring a Ford Explorer for 16- to 25-Year-Olds
Teen drivers and those in their 20s usually pay significantly higher car insurance rates than adults aged 30 and older. For example, individual car insurance for a 16-year-old driving a Ford Explorer costs $6,052 per year for full coverage but a similar policy for a 40-year-old costs only $1,319 per year.
Teen car insurance rates typically decrease as the driver ages and stabilize by their 20s.
Family plans are the most affordable way to get teen car insurance since individual policies for teens tend to be much pricier. State Farm offers the cheapest full coverage individual policy for a 16-year-old Ford Explorer driver at $3,837, while Progressive has the most expensive option at $9,367 per year. MoneyGeek recommends that teens and their families compare quotes from multiple providers to get the cheapest car insurance rates.
How Does Location Affect the Cost of Ford Explorer Insurance?
Location can influence Ford Explorer insurance rates even more than the vehicle year or driver’s age. For example, car insurance in Idaho is the cheapest in the U.S., while Florida has the highest rates.
It pays to compare quotes from the cheapest providers in your state if you are looking for affordable car insurance.
Frequently Asked Questions About Ford Explorer Insurance
MoneyGeek answered frequently asked questions about Ford Explorer car insurance to help you learn more.
About Mark Fitzpatrick