Ford Explorer Insurance Rates for 2023

Is insurance for a Ford Explorer affordable?

From the XLT 2WD trim up to the King Ranch 4WD trim, we compared insurance rates for the 2023 Explorer to look at how average policy premium measures up to similar midsize SUVs.

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  • 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.

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.

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 driver age 60 with a $1,000 policy deductible to $3,504 annually for a 20-year-old driver with a deductible of $250.

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Chart Data Details: Chart shows average insurance cost for a 2023 Ford Explorer with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all Ford Explorer trim levels.Data last updated on January 23, 2023
Ford Explorer Car Insurance Rates
2023 Ford Explorer Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$2,446$204
$500$2,960$247
$250$3,504$292
30$1,000$1,314$110
$500$1,600$133
$250$1,900$158
40$1,000$1,238$103
$500$1,504$125
$250$1,778$148
50$1,000$1,128$94
$500$1,364$114
$250$1,612$134
60$1,000$1,108$92
$500$1,340$112
$250$1,584$132

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.

Ford Explorer Insurance Cost for 2005-2023 Models
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

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Table Data Details: Average rates assume clean driving record and no at-fault accidents. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on January 23, 2023
Ford Explorer Insurance Rates by Model Year

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.

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.

2023 Ford Explorer Insurance Cost by Trim Level
Ford Explorer Trim Level Annual Policy Six-Month Policy Per Month
XLT 2WD$1,362$681$114
XLT 4WD$1,394$697$116
ST-Line 2WD$1,462$731$122
Limited 2WD$1,478$739$123
ST-Line 4WD$1,490$745$124
Base 2WD$1,496$748$125
Limited 4WD$1,498$749$125
Timberline 4WD$1,498$749$125
ST 2WD$1,510$755$126
ST 4WD$1,524$762$127
Base 4WD$1,532$766$128
Limited Hybrid 2WD$1,536$768$128
Platinum 2WD$1,542$771$129
King Ranch 2WD$1,544$772$129
Limited Hybrid 4WD$1,550$775$129
Platinum 4WD$1,556$778$130
King Ranch 4WD$1,562$781$130

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2023 Ford Explorer, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on February 5, 2023
Ford Explorer Insurance Cost by Trim Level

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.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average rates are for a 2023 model year Ford Explorer, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all Ford Explorer trim levels. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on January 23, 2023
Ford Explorer Insurance Cost vs Top 10 Midsize SUVs
Ford Explorer Insurance Cost Compared to All Midsize SUVs
Rank Make/Model Insurance Cost Difference
1Honda Passport$1,368-$136
2Subaru Ascent$1,434-$70
3Ford Edge$1,494-$10
4Ford Explorer$1,504--
5Volkswagen Atlas$1,506$2
6Nissan Murano$1,516$12
7Subaru Outback$1,518$14
8Volkswagen Atlas Cross Sport$1,576$72
9Toyota Venza$1,608$104
10Kia Sorento$1,618$114
11Hyundai Palisade$1,638$134
12Toyota 4Runner$1,654$150
13GMC Acadia$1,682$178
14Chevrolet Traverse$1,684$180
15Honda Pilot$1,696$192
16Buick Enclave$1,702$198
17Nissan Pathfinder$1,712$208
18Mazda CX-9$1,720$216
19Mitsubishi Outlander Sport$1,744$240
20Kia Telluride$1,754$250
21Toyota Highlander$1,762$258
22Chevrolet Blazer$1,786$282
23Hyundai Santa Fe$1,810$306
24Jeep Grand Cherokee$1,876$372
25Jeep Cherokee$1,914$410
26Jeep Wrangler$1,952$448
27Ford Bronco$1,962$458
28Tesla Model Y$1,970$466
29Mitsubishi Outlander PHEV$2,018$514
30Dodge Durango$2,102$598
31Rivian R1S$2,160$656

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.

Additional Facts and Rate Information

Other relevant data observations concerning Explorer insurance cost include:

  • High-risk Explorer car insurance is expensive. For a 50-year-old driver, having enough accidents and violations to require a high-risk insurance policy could trigger a rate increase of $1,714 or more per year.
  • Lower policy cost by raising deductibles. Boosting your deductibles from $500 to $1,000 could save around $266 per year for a 40-year-old driver and $514 per year for a 20-year-old driver.
  • Low physical damage deductibles increases cost. Decreasing your policy deductibles from $500 to $250 could cost an additional $274 per year for a 40-year-old driver and $544 per year for a 20-year-old driver.
  • Obey driving laws to keep insurance cost low. To get the lowest Explorer insurance rates, it pays to be a conservative driver. Just a few minor blemishes on your driving record have the potential to raise the price of a policy as much as $380 per year. Being convicted of a serious infraction such as hit-and-run, DUI or reckless driving could raise rates by an additional $1,338 or more.
  • No accidents means cheaper rates. Multiple at-fault accidents raise rates, as much as $2,044 per year for a 20-year-old driver and as much as $420 per year for a 60-year-old driver.
  • Driver gender affects car insurance rates. For a 2023 Ford Explorer, a 20-year-old male pays an estimated $2,960 per year, while a 20-year-old female pays an average of $2,192, a difference of $768 per year. The females get the cheaper rate by far. But by age 50, the male rate is $1,364 and the cost for a female driver is $1,338, a difference of only $26.