- Ford Explorer insurance costs an average of $1,504 per year, or around $125 per month for full coverage.
- With an insurance cost range of $200, the cheapest Ford Explorer insurance is the base Explorer XLT 2WD model at around $1,362 per year, and the most expensive trim being the King Ranch 4WD at $1,562 annually.
- When compared to other midsize SUVs, the 2023 Ford Explorer is one of the cheaper midsize SUVs to insure, costing $220 less per year on average and ranking fourth out of 31 competitors.
- Our top picks for the best Ford Explorer insurance are Progressive, State Farm, and GEICO.
How much does Ford Explorer insurance cost?
Insurance on a Ford Explorer costs an average of $1,504 a year for full coverage. Depending on the trim level being insured, monthly car insurance for a 2023 Explorer averages from $114 to $130.
As the three main components of a car insurance policy, comprehensive (or other-than-collision) coverage will cost about $414 a year, liability and medical (or PIP) coverage costs approximately $340, and collision insurance is around $750.
When compared to all other 2023 model-year vehicles, insurance for an Explorer costs 23.3% less than the national average car insurance rate of $1,900 per year.
The following chart shows how average Ford Explorer car insurance cost varies based on driver age and coverage deductibles. Prices range from $1,108 per year for a 60-year-old driver with a $1,000 policy deductible to $3,504 annually for a 20-year-old driver with a deductible of $250.
|Driver Age||Deductible||Annual Cost||Monthly Cost|
To give you a better sense of how variable car insurance rates can be, keep in mind that buying liability-only insurance on an Explorer in some parts of Virginia or Wisconsin can cost as little as $239 a year, while a 16-year-old driver with a tendency to speed in specific higher-theft California zip codes could have to pay as much as $10,852 a year for a policy with full coverage.
The table below breaks down average full-coverage insurance rates for the Ford Explorer for the 2005 to 2023 model years. Linked models have a full cost analysis that can be viewed by clicking the link.
|Model Year and Vehicle||Annual Rate||6-month Rate||Monthly Rate|
|2023 Ford Explorer||$1,504||$752||$125|
|2022 Ford Explorer||$1,554||$777||$130|
|2021 Ford Explorer||$1,590||$795||$133|
|2020 Ford Explorer||$1,528||$764||$127|
|2019 Ford Explorer||$1,490||$745||$124|
|2018 Ford Explorer||$1,438||$719||$120|
|2017 Ford Explorer||$1,378||$689||$115|
|2016 Ford Explorer||$1,466||$733||$122|
|2015 Ford Explorer||$1,324||$662||$110|
|2014 Ford Explorer||$1,176||$588||$98|
|2013 Ford Explorer||$1,258||$629||$105|
|2012 Ford Explorer||$1,233||$616||$103|
|2011 Ford Explorer||$1,208||$604||$101|
|2010 Ford Explorer||$1,184||$592||$99|
|2009 Ford Explorer||$1,160||$580||$97|
|2008 Ford Explorer||$1,137||$569||$95|
|2007 Ford Explorer||$1,114||$557||$93|
|2006 Ford Explorer||$1,092||$546||$91|
|2005 Ford Explorer||$1,070||$535||$89|
Which Explorer model has the cheapest insurance?
The cheapest trim level of Ford Explorer to insure is the base XLT 2WD model at $1,362 per year, or about $114 per month. The second cheapest trim is the XLT 4WD model at $1,394 per year, and the third cheapest model to insure is the ST-Line 2WD at $1,462 per year.
If you’re a safe driver, a usage-based program could make car insurance less expensive. Drivers can save an average of $140 per year when insuring a 2023 Ford Explorer.
The two most expensive trim levels of Ford Explorer to insure are the King Ranch 4WD at $1,562 and the Platinum 4WD at $1,556 per year. Those will cost an extra $200 and $194 per year, respectively, over the cheapest base Explorer XLT 2WD model.
The table below demonstrates how the average cost of car insurance increases with trim level and powertrain options for the Ford Explorer.
|Ford Explorer Trim Level||Annual Policy||Six-Month Policy||Per Month|
|Limited Hybrid 2WD||$1,536||$768||$128|
|King Ranch 2WD||$1,544||$772||$129|
|Limited Hybrid 4WD||$1,550||$775||$129|
|King Ranch 4WD||$1,562||$781||$130|
How do insurance rates compare to similar vehicles?
The Ford Explorer ranks fourth out of 31 comparison vehicles in the 2023 midsize SUV category. The Explorer costs an average of $1,504 per year to insure and the class average cost is $1,724 annually, a difference of around $220 per year.
When compared directly to the top-selling other midsize SUVs, car insurance for a Ford Explorer costs $372 less per year than Jeep Grand Cherokee insurance, $258 less than Toyota Highlander insurance rates, $410 less than the cost of Jeep Cherokee insurance, and $14 less than Subaru Outback insurance rates.
The chart below visualizes where the Explorer ranks in relation to the other top 10 selling midsize SUVs in the U.S. for insurance affordability. In addition, a table is also included after the chart that ranks typical insurance rates for all 31 vehicles in the 2023 midsize SUV segment.
|8||Volkswagen Atlas Cross Sport||$1,576||$72|
|19||Mitsubishi Outlander Sport||$1,744||$240|
|23||Hyundai Santa Fe||$1,810||$306|
|24||Jeep Grand Cherokee||$1,876||$372|
|28||Tesla Model Y||$1,970||$466|
|29||Mitsubishi Outlander PHEV||$2,018||$514|
Another useful way we can look at the cost of insurance within the midsize SUV segment is to see how rates stack up for the models that are closest in purchase price to a 2023 Explorer.
A 2023 Ford Explorer has an average sticker price of $48,447, ranging from the XLT 2WD trim at $38,570 to the King Ranch 4WD trim at $56,075.
The midsize SUVs that are closest in average price to the Explorer are the Ford Bronco, Jeep Wrangler, Kia Telluride, and Mitsubishi Outlander PHEV.
The data below shows how those models compare to a Ford Explorer for both MSRP and the average cost of car insurance.
- Ford Explorer vs. Ford Bronco – Having an average purchase price of $49,092 and ranging from $32,295 to $73,780, the 2023 Ford Bronco costs $645 more than the Ford Explorer. The average insurance cost for the Ford Explorer compared to the Ford Bronco is $458 less each year.
- Ford Explorer vs. Jeep Wrangler – The average MSRP for a 2023 Ford Explorer is $1,889 more expensive than the Jeep Wrangler, at $48,447 compared to $46,558. The average insurance cost for a Ford Explorer compared to the Jeep Wrangler is $448 less every 12 months.
- Ford Explorer vs. Kia Telluride – New off the lot, the sticker price on the Kia Telluride averages $2,471 less than the Ford Explorer ($45,976 compared to $48,447). Anticipate paying an average of $250 more every 12 months for insurance on the Kia Telluride compared to an Explorer.
- Ford Explorer vs. Mitsubishi Outlander PHEV – The Mitsubishi Outlander PHEV has an average sticker price of $45,537, ranging from $39,845 to $49,995, which is $2,910 cheaper than the average cost for the Ford Explorer. The average insurance cost for a Ford Explorer compared to the Mitsubishi Outlander PHEV is $514 less per year.
To view additional rate comparisons, see our insurance comparisons index for a complete list of available makes and models.
Best insurance for a Ford Explorer
The best insurance for a Ford Explorer is the coverage that fits your situation best.
Maybe you want lower deductibles so you have less out-of-pocket expense if you have a claim. Or maybe you need high liability limits because you have significant assets you want to protect if you are ever sued as the result of an auto accident.
Everyone’s situation is different so finding the best insurance is somewhat of a personal decision. However, we can help point you in the right direction to the companies that can help you find the best coverage.
We recommend comparing rates between at least five different car insurance companies in order to find the best rates. Include several major companies like the ones below in addition to several smaller regional companies.
The companies below are our picks for finding the best insurance on a Ford Explorer. Not every company is perfect, however, so we list some of the pros and cons for each one that you might consider when selecting the best company for you.
Estimated Progressive car insurance rate on a 2023 Ford Explorer: $1,534 per year
- Has very easy-to-use online and mobile tools so you can manage your policy, track claims, or make payments
- Sells rideshare insurance for insureds who have a side gig with Lyft or Uber
- Offers additional coverage like accident forgiveness, gap insurance, and a vanishing deductible
- Claim satisfaction ratings in J.D. Power surveys could be better
- Above-average rates for drivers in their teens and early twenties
Get a Quote Or read more about auto insurance coverages offered at Progressive.com
2. State Farm
Estimated State Farm car insurance rate on a 2023 Ford Explorer: $1,429 per year
- Pretty good renewal discount of around 14% if you have been with the company for at least three years
- Competitive prices for drivers with speeding tickets on their records
- Good average rates when adding a teen to a parent’s policy
- High average rates for drivers with bad credit
- Average prices are not great for drivers with a DUI or an accident
Get a Quote Or read more about auto insurance coverages offered at StateFarm.com
Estimated GEICO car insurance rate on a 2023 Ford Explorer: $1,248 per year
- Customers can make payments or file claims via iPhone or Android
- On average, they have lower car insurance rates for most drivers
- They have consistently strong financial ratings with agencies like AM Best, Moody’s, and Fitch
- They do not give customers the option to buy gap insurance
- Does not offer rideshare insurance for drivers who earn income with Uber or Lyft
Get a Quote Or read more about auto insurance coverages offered at GEICO.com
Estimated Nationwide car insurance rate on a 2023 Ford Explorer: $1,489 per year
- Generally has a low level of customer complaints filed with state regulators
- Nationwide has optional coverages like gap insurance and accident forgiveness
- Offer a usage-based discount program, SmartRide, for drivers who think they can save money
- Expensive rates for drivers who caused an accident with injuries
- Prices are not great for drivers with a bad driving record or prior accidents
Get a Quote Or read more about auto insurance coverages offered at Nationwide.com
5. Farmers Insurance
Estimated Farmers Insurance car insurance rate on a 2023 Ford Explorer: $1,730 per year
- Offers additional coverage like new car replacement and accident forgiveness
- Extends optional rideshare coverage for insureds who earn money with companies like Uber and Lyft
- Will file SR-22 forms with the state if they are required by a prior conviction
- Higher average rates for most drivers, especially younger and older
- Doesn’t provide loan/lease gap coverage
Get a Quote Or read more about auto insurance coverages offered at Farmers.com
Five ways to save money on Ford Explorer insurance
Since it ranks near the top of the 2023 midsize sports utility vehicle segment, insurance rates on the Explorer are already pretty decent. However, there are always things you can do to save money on insurance.
The five tips below are some of the best ways you can reduce or maintain affordable rates when insuring your Explorer.
- Don’t file small claims. Most insurers give a discounted rate for not filing any claims. Car insurance should only be used for significant claims, not nickel-and-dime type claims.
- Drive safely. Having frequent at-fault accidents will raise rates, possibly as much as $678 per year for a 30-year-old driver and even as much as $420 per year for a 60-year-old driver. So drive safely and save money!
- Shop your coverage around. Taking 5-10 minutes before every policy renewal to get free car insurance quotes is a great way to save money. Rates change frequently and you can switch companies very easily.
- Bundle your auto and home policies. Companies that sell both home and auto insurance usually offer a hefty discount if you insure them both with them. For a 2023 Ford Explorer, savings can range from $15 to $256, depending on the company.
- Qualify for policy discounts to save money. Discounts like the bundling discount we just mentioned are a great way to save money. There are dozens of possible discounts you can qualify for that can reduce the cost of your policy.