Ford F-150 insurance costs vary greatly depending on age and the car model year. Ford F-150 insurance for a 16-year-old costs an average of $5,748 per year, while a similar policy for a 40-year-old is much cheaper at $1,248 per year. Rates also vary by model year, with a 2022 Ford F-150 costing $1,409 per year to insure — $269 more than the cost of a 2009 model.
MoneyGeek also ranked insurers based on affordability and service and claims experience to help you find the best insurer.
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Average Cost and Cheapest Companies for Insuring a Ford F-150
The average cost of insuring a Ford F-150 is $1,280 per year, but rates will vary depending on the insurer you pick. For a full coverage policy, State Farm is the cheapest at $1,024 per year, while Farmers has the highest rates at $1,478 per year.
For minimum coverage, the cheapest car insurance for a Ford F-150 is also offered by State Farm at $488 per year, while Farmers has the most expensive rates for a similar policy at $740 per year.
Is a Ford F-150 Expensive to Insure?
When determining Ford F-150 insurance costs, insurers consider factors like value, safety record and theft rates. On average, it is relatively cheap to insure a Ford F-150 compared to other car models. This car is moderately priced with a MSRP of $31,685 for a 2022 model, meaning its repair costs are relatively low. Additionally, it has excellent safety ratings, which also contributes to the low cost of insurance since the risk to the insurer is reduced.
Best Companies for Insuring a Ford F-150
Apart from cost, it's also important to consider factors like service and claims experience when shopping for the best Ford F-150 insurance provider.
MoneyGeek found that the best car insurance companies for Ford F-150 insurance are:
- State Farm: MoneyGeek score of 90 out of 100 ($1,024 per year)
- GEICO: MoneyGeek score of 88 out of 100 ($1,092 per year)
State Farm ranked first for affordability and second for customer satisfaction among the insurers in our comparison group, making it the best option for a balance of cost and great service.
MoneyGeek Top Pick: State Farm
Ranked first for affordability
Earned the second-highest customer satisfaction scores
Doesn’t offer gap insurance or deductible modification coverage
Has a below-average claims rating
State Farm offers the best Ford F-150 insurance, balancing affordable rates with great service. State Farm has the cheapest rates and ranks second for customer satisfaction among the seven companies we analyzed. However, its coverage options are limited.
State Farm offers roadside assistance coverage, which can come in handy if your Ford F-150 breaks down and you need emergency services. This coverage will pay for services like towing, mechanical labor or tire change. It will also cover gas or oil delivery and locksmith services.
You can also opt for rental car or travel reimbursement coverage as an add-on. With this coverage, your policy will help pay for a rental car and travel expenses, such as meals, lodging and transportation, up to $500 if your truck is in the shop following a covered accident.
MoneyGeek Runner-Up: GEICO
Ranked second for affordability
Earned the third-highest customer satisfaction score
Has unique add-on coverages
Has a low claims rating
Doesn’t offer gap insurance
GEICO ranked second for affordability and third for customer satisfaction among the insurers we evaluated. This provider offers a combination of reasonable rates, good service and unique coverage options.
If you have a new Ford F-150 with less than 15,000 miles, GEICO's mechanical breakdown insurance (MBI) is a valuable add-on that can cover all parts and systems in your vehicle, including those not covered by the dealer. GEICO also offers accident forgiveness to help you avoid premium increases after your first at-fault accident. You can purchase this coverage as an add-on to your policy or earn it by remaining accident-free for at least five years.
In addition, GEICO provides several essential coverages, including roadside assistance to cover the cost of emergency services like towing, mechanical labor or gas delivery, and rental car reimbursement cover travel expenses incurred while your car is getting repaired.
Cost of Insuring a Ford F-150 by Model Year
The average cost of car insurance varies depending on model year. Insuring a 2022 Ford F-150 costs $1,409 per year, while a 2009 model costs $1,140 per year. Newer models are more expensive since they have a higher value than older models.
The average cost of car insurance can also vary based on the Ford F-150 model year and provider. State Farm offers the cheapest rates for a 2009 model at $855 per year and is also the cheapest option for a 2022 model at $1,167 per year.
Cost of Insuring a Ford F-150 for 16- to 25-Year-Olds
Car insurance is much more costly for teens and drivers in their 20s compared to drivers in their 30s and 40s. Ford F-150 insurance costs an average of $5,748 per year for a full coverage policy for a 16-year-old, while the same policy for a 40-year-old costs just $1,248 per year. Teen car insurance rates typically decrease as a driver ages through their teenage years and stabilize during their 20s.
The cheapest way to get teen car insurance is through a family policy, since individual policies for teens tend to be very expensive. In addition, teens under 18 are legally required to have a parent or guardian co-sign if they purchase an individual policy.
State Farm offers the cheapest teen car insurance for a Ford F-150, with an average rate of $3,762 per year for an individual policy. Progressive is the most expensive option at $8,571 per year. To get the cheapest rates, it's always a good idea to shop around and compare quotes from different providers.
How Does Location Affect the Cost of Ford F-150 Insurance?
The car make and model and the driver's age impact car insurance rates, but location can be an even bigger determining factor. Car insurance rates vary significantly depending on the state — New York has the most expensive rates, on average, while Idaho has the cheapest. You can compare quotes from the cheapest insurers in your state to get the best rates for Ford F-150 insurance.
Frequently Asked Questions About Ford F-150 Insurance
To help you find the best Ford F-150 insurance, we answered common questions about cost and service quality.
About Mark Fitzpatrick