Ford F-150 Insurance Cost for 2021

• Ford F-150 insurance cost averages $1,488 per year, $744 for a 6-month policy, or $124 per month for full coverage insurance, depending on the trim level.
• The 4-wheel drive XL regular cab trim level has the cheapest F-150 insurance rates due to the relatively low MSRP of $33,585 and lower historical liability claims in relation to the 2-wheel drive version.
• On average, the F-150 has the cheapest cost of insurance when compared to its main competitors in the large truck segment like the Chevy Silverado and Ram Truck.
• Buying a low deductible policy can increase rates to $1,932 a year, an increase of $444 a year or 29.8%, whereas high deductibles can decrease rates to $1,260 a year, a decrease of $228 a year or 15.3%.

How much does Ford F150 insurance cost?

Ford F-150 car insurance costs on average $1,488 a year, or about $124 if paid each month. When compared to the average insurance policy cost for the entire 2021 large truck segment, insurance rates for a F-150 are around $90 cheaper each year.

Average Ford F-150 insurance cost per month ranges from $111 to $147, depending on the trim level of the truck being insured. Lower-cost work truck trim levels like the XL Regular Cab model tend to have the cheapest insurance rates, while tricked-out high-end trims like the Platinum and King Ranch models are more expensive to insure.

The chart below shows how average Ford F-150 car insurance rates vary based on the age of the driver and the policy deductibles. With all other factors staying constant, car insurance rates drop as driver age increases up to about age 65, at which point rates begin to increase. A policy with high deductibles will cost less than a comparable policy with a lower deductible option.

The average insurance cost we use for our analysis is a 40-year-old driver with $500 deductibles, which clocks in at $1,488 per year. Drivers see significant savings as they age from 20 to 30, about $1,350 difference in those ten years.

After the age of 30, rates will continue to fall at a slower pace unless an insurability factor changes. For example, a DUI or even a couple of speeding tickets would cause rates to increase, quite significantly in the case of a DWI/DUI.

Conversely, getting married, buying a home or improving your credit rating can cause the cost of F150 insurance to drop even more with age.

What is the cheapest Ford F-150 insurance?

The Ford F-150 with the cheapest insurance cost is the 4WD XL Regular Cab with the 6 1/2 or 8 feet bed. This stands to reason, as the XL model is the cheapest trim level with a base MSRP of $28,940.

Adding 4-wheel drive does increase the cost by $4,645, but when historical insurance loss data is factored in, the 4-wheel drive models of the F150 generally have lower property damage and bodily injury liability claims than 2-wheel drive models. This results in more favorable insurance rates when purchasing the 4WD option.

The table below breaks out average Ford F-150 car insurance rates by trim level for the 2021 model year.

Does a used F-150 cost less to insure?

Absolutely. As a vehicle gets older, it depreciates in value and is worth less (classic cars excluded). A brand new 2021 Ford F-150 averages around $1,488 per year to insure, while a model that is 8 or 9 years old would cost around $260 less to insure for the same coverages.

The difference in cost is primarily due to the the reduced payout an insurance company would be required to pay if the vehicle is totaled and the loss is covered on the policy. Thankfully, vehicles are not damaged beyond repair very often, so the $260 savings is fairly minor considering the claim payout difference could exceed $50,000 or more.

The table below demonstrates how average Ford F150 insurance cost decreases as the age of your truck increases. At some point, drivers have to weigh the benefit of having full coverage with the savings provided by only insuring for liability only. This table assumes full coverage for all model years.

As new safety features like crash avoidance braking, adaptive cruise control, and lane keep assist are introduced and adopted into new models, insurance rates can actually end up being lower for new models.

Any technology that lowers the frequency or severity of liability or physical damage claims translates into better insurance rates. For the Ford F150, the 2015 model year redesign included 31 new safety innovations. The effect on insurance rates can be seen the following year, when insurance rates actually dropped for the 2016 model year.

As mentioned earlier, there comes a day when you have to make the decision to remove full coverage on your truck and just pay for liability insurance only. The table below shows average insurance cost for older F-150 model years, breaking out full coverage insurance cost from liability-only cost.

How does F-150 insurance compare to other trucks?

In the competitive half-ton truck segment, Ford F150 insurance cost ranks #1, edging out the GMC Sierra and Toyota Tundra. With a segment average insurance cost of $1,578, the F150 averages about $90 less per year.

When compared to all vehicles (not just other large trucks) it also fares well, as the average F150 insurance rate is $35 less than the national average of $1,523.

The chart below shows how well Ford F-150 insurance compares to all other large trucks including the #2 and #3 selling trucks, the Chevy Silverado 1500 and the Ram 1500.

For the large truck segment, the spread is pretty tight when it comes to insurance cost. Only about $160 separates the F-150 from the Silverado, and depending on the trim level, insuring a higher-appointed F-150 like the Limited or Platinum could easily cost more than insuring many Silverado trim levels.

The F150 is the best selling truck in American for good reason. It’s loaded with features, is easy on the eyes, and it can also check the “cheapest truck insurance” box.

Averaging less than the overall national average car insurance rate, the Ford F150 should be fairly easy on the wallet when the car insurance bill comes.

How much is 2022 Ford F-150 insurance?

Until it is actually released in the fall, we can speculate that car insurance rates for the 2022 Ford F-150 will range from $1,258 to $1,831 per year for the base XL model up to the Limited Super Cab model.

2022 F-150 MSRP is expected to be similar to the 2021 lineup, but the primary difference will be the inclusion of the 2022 F-150 Raptor into the redesign that the rest of the 2021 models underwent.

So expect the 2022 Raptor to include all the 2021 updates like upgraded powertrains, power dome hood with heat extractor, more aggressive fenders, and more.

What will 2022 F-150 Lightning insurance cost?

The new 2022 F-150 Lightning electric pickup is expected to cost just shy of $2,000 a year on average for full coverage insurance, or around $167 per month. Insurance rates for the Lightning should top those of the current most expensive model, the Platinum.

Insurance for electric vehicles tends to be more expensive than gas-powered models, primarily due to the additional electronics required to support the technology. Battery failures are generally not covered by a standard car insurance policy, unless the loss is caused by fire, theft, flood, or a collision.

We are anxiously anticipating the insurance cost showdown between the F-150 Lightning, the Tesla Cybertruck, the Rivian R1T, and the GMC Hummer EV.

References and Additional Resources

• Ford F-150 MSRP and Specs
• IIHS Insurance Losses by Make and Model