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How much does it cost to insure my Ford Explorer?

Nicholas Hinrichsen - Published: August 10, 2020

This guide compares auto insurance rates for a specific make and model, as well as provides data for the average values and payback periods.

Ford Explorer Insurance Quick Facts:

Average car insurance rate: $99 per month or $1,188 per year
 

Average cost to to insure a Ford Explorer: $1,011


Cheapest Year to Insure: 2018


Explorer vs. average vehicle insurance cost: $176 below average) average vehicle

Compare Fords Car Insurance Rates Across Years:

There are an endless number of options available when it comes to auto insurance. Quotes given by insurance companies are dependent on a variety of different factors such as the vehicle’s make and model, the driver’s age and driving record, and credit score (among others).  

 

As some general rules to saving on your insurance policy:

  • Lower coverage limits are often cheaper (you can reduce deductible, collision, comprehensive, or liability coverages individually)

  • Good drivers (with the driving record to prove it) generally receive better rates

  • Cars with more safety features (and those that do better in crash tests) will typically be cheaper 

Below is a table of the average insurance costs nationwide to insure a Ford Explorer across various years. These quotes are provided by a number of insurance providers (such as AllState, Geico, Progressive, State Farm, Liberty Mutual, and others):

  • 2011: $960 ($228 less than an
  • 2012: $930 ($258 below average)
  • 2013: $977 ($211 below average)
  • 2014: $1,010 ($178 below average)
  • 2015: $998 ($190 below average)
  • 2016: $1,014 ($174 below average)
  • 2017: $1,107 ($81 below average)
  • 2018: $1,096 ($92 below average)

 

If some of these figures surprise you - you can get a free insurance quote by comparing offers from TheZebra.com. They help find the best car insurance for your needs and take into account your entire driving history, vehicle location, and try to match your coverage amongst several car insurance companies.

Ford Replacement Payback:

You might notice that car insurance costs don’t vary a ton by model year for some of the makes and models. The vehicle replacement cost however, does vary a lot by year (since older vehicles are inherently cheaper). 

Why is this? Primarily two reasons:

  1. Repair costs don't vary that much: In many cases when a vehicle is damaged, the cost to repair doesn't vary highly by year. While a 2015 model is worth less than a 2019 the cost to replace a fender or blown airbag on each vehicle is often the same.

  2. About 1/3 of insurance premium goes to "non-car" coverage for covering bodily and personal injury, property damage, medical payments when a collision injures individuals or property separate from the vehicle.

In order to make the insurance comparison more relevant let’s also evaluate a new metric called replacement timeline. For this replacement timeline we’ll examine how many months of insurance premiums it would take to purchase a complete replacement car (e.g. assume you can complete total your car every few months):

  • 2020: $38,940 (461 months to replace)
  • 2019: $30,627 (363 months to replace)
  • 2018: $24,591 (269 months to replace)
  • 2017: $25,705 (278 months to replace)
  • 2016: $23,748 (281 months to replace)
  • 2015: $19,083 (229 months to replace)
  • 2014: $16,662 (197 months to replace)
  • 2013: $13,821 (169 months to replace)
  • 2012: $13,685 (176 months to replace)
  • 2011: $15,674 (195 months to replace)
  • 2010: $10,748 (127 months to replace)
  • 2008: $5,720 (67 months to replace)
  • 2008: $10,533 (124 months to replace)

Refinance a Ford Explorer:

Not only can you save on your auto insurance, you can save even more through lowering the rate on your car loan. Unlike all the other auto refinance lenders, we are the only fully digital platform that let's car owners like you refinance their cars from the comfort of their own home.

 

No need to set a foot in a bank or credit union. You can lower your rate or get cash in as little as 20 seconds.

 

Curious how much you can save today? Follow three simple steps to refinance your Ford Explorer loan, get approved in seconds and save thousands in minutes.

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