Ford F-150 Insurance Cost by Model Year – 1995 to 2023 Rates

• Ford F-150 insurance cost averages $1,794 per year, or about $150 per month, for full coverage insurance, depending on the trim level.
• The XL Super Cab 4WD trim level has the cheapest insurance rates due to the relatively low MSRP of $42,995 and lower historical liability claims in relation to the 2-wheel drive version.
• On average, the F-150 has the second cheapest insurance rates when compared to its main competitors in the half-ton pickup segment like the Chevy Silverado and Ram Truck.
• In a comparison of large U.S. auto insurance companies, USAA, GEICO, and Progressive tended to have some of the best F-150 insurance rates.

How much does Ford F-150 insurance cost?

2023 Ford F-150 insurance costs on average $1,794 per year, or about $150 if paid each month. When compared to the average insurance policy cost for the entire 2023 large truck segment, insurance rates for an F-150 are around $121 cheaper each year.

Average Ford F-150 insurance cost per month ranges from $128 to $165, 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 $1,794 per year. Drivers see significant savings as they age from 20 to 30, with about a $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 F-150 insurance to drop even more with age.

Ford F-150 insurance cost by policy coverage

There are three basic kinds of coverage on a car insurance policy, physical damage coverage, liability coverage, and medical coverage.

Physical damage coverage consists of comprehensive and collision insurance, which pays to repair your F-150 if you have an accident or weather-related claim that involves damage to your pickup.

Liability insurance pays for damages to other people’s property or their injuries if you are responsible or negligent.

Medical insurance or Personal Injury Protection pays for injuries to your vehicle’s occupants if you are in an accident. This is generally a lower limit of insurance than the coverage provided by personal injury liability insurance.

The table below breaks out the average cost of each of these coverages on a typical Ford F-150 insurance policy. It then compares each coverage to the average cost for all 2023 vehicles to see how the F-150 compares.

Based on these results, the average cost of insurance on a 2023 F-150 is 5.7% cheaper than the overall national average insurance rate of $1,900 per year for all 2023 model year vehicles.

The cost of physical damage coverage (comprehensive and collision) tends to be cheaper on average for the F-150, but liability and medical expense coverage is just a little bit more expensive on average.

Keep in mind that these rates are averaged for all F-150 trim levels, so the exact model you drive will be slightly different than the average rates.

This also reinforces the importance of getting F-150 insurance quotes for the model you drive and your location rather than basing cost comparisons on average rates. To see how F-150 insurance prices compare in your area, simply enter your zip code under the table above and click the GO button.

In the next section, we compare insurance prices for all F-150 trim levels for the 2023 model year.

If you’re a safe driver, a usage-based program could reduce the cost of car insurance. Drivers can save an average of $167 per year when insuring a 2023 Ford F-150.

Ford F-150 insurance rates by trim level

In general, the higher the trim level of the F-150 you buy, the more it will cost to insure it. Upper-end trims like the Lariat, Platinum, and King Ranch high a higher replacement cost value than lower-end XL and XLT models, so insurance rates are higher for those models.

The Ford F-150 with the cheapest insurance rates is the XL Super Cab 4WD model 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 $42,995.

Adding 4-wheel drive does increase the cost, but when historical insurance loss data is factored in, the 4-wheel drive models of the F-150 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.

Rates increase throughout the lineup, topping out at the $96,874 Lightning Platinum model, which has an average annual insurance cost of $1,980.

The table below breaks out average Ford F-150 car insurance rates by trim level for the 2023 model year.

Insurance cost on a new F-150 compared to a used model

As a vehicle gets older, it depreciates in value and is worth less (classic cars excluded). A new 2023 Ford F-150 averages around $1,794 per year to insure, while a model that is 8 or 9 years old would cost around $400 less per year to insure for the same coverages.

The difference in cost is primarily due to 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 $400 savings is fairly minor considering the claim payout difference could exceed $50,000 or more.

The table below demonstrates how the average Ford F-150 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 F-150, 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.

The F-150 moniker debuted for the 1975 model year. Prior to that, it was known as the F-100. Today, Ford’s Dearborn, MI, assembly plant cranks out a new F-150 every 52 seconds.

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 the average insurance cost for older F-150 model years, with the average rate for both full coverage and liability-only insurance included.

How does the price of F-150 insurance compare?

In the competitive 2023 half-ton truck segment, Ford F-150 insurance cost ranks second. With a segment average insurance cost of $1,915, the F-150 averages about $121 less per year.

When compared to all vehicles (not just other large trucks) it also fares well. When compared to all 2023 model year vehicles (not just half-ton pickups), insurance on the Ford F-150 costs 5.7% less than the overall national average insurance rate of $1,900 per year.

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.

With an average sticker price of $58,039, ranging from the cheapest XL Super Cab 4WD model at $42,995 to the most expensive Lightning Platinum costing $96,874, the full-size half-ton pickups closest in price to the Ford F-150 for the 2023 model year are the Ram Truck, GMC Sierra, Toyota Tundra, and Chevrolet Silverado.

Here’s how those four models compare to a 2023 Ford F-150 for both average purchase price and insurance cost.

• Ford F150 vs. Ram Truck – The average MSRP for a 2023 Ford F150 is $1,517 more expensive than the Ram Truck, at $58,039 compared to $56,522. The cost to insure a Ford F-150 compared to the Ram Truck is $134 less annually on average.
• Ford F150 vs. GMC Sierra – The GMC Sierra has an average retail price of $55,932, ranging from $38,995 to $82,940, which is $2,107 cheaper than the Ford F-150. Insurance on a 2023 Ford F-150 costs an average of $132 less every 12 months than the GMC Sierra.
• Ford F150 vs. Toyota Tundra – The Toyota Tundra has an average retail price of $54,010, ranging from $36,965 to $75,245, which is $4,029 cheaper than the Ford F-150. Insuring the Ford F-150 compared to the Toyota Tundra costs an average of $62 less per year.
• Ford F150 vs. Chevrolet Silverado – The average MSRP for a 2023 Ford F150 is $6,164 more expensive than the Chevrolet Silverado, at $58,039 compared to $51,875. The average insurance cost for a 2023 Ford F-150 compared to the Chevrolet Silverado is $136 less annually.

The F-150 is the best-selling truck in America for good reason. It’s loaded with features, is easy on the eyes, and can also check the “affordable truck insurance” box.

And averaging less than the average insurance rate for all 2023 vehicles, the Ford F-150 should be fairly easy on the wallet when the car insurance bill comes (depending on trim level and options, of course).

View additional insurance cost comparisons for the Ford F-150 or many other makes and models of vehicles.

The best insurance for a Ford F-150

There are a lot of great insurance companies available, but each one has its pros and cons.

What you consider the best insurance may not necessarily be the best insurance for your neighbor or coworker. Maybe you prefer to handle your insurance on your phone, or maybe you’d prefer to have a local agent to talk to about your concerns.

Finding the best insurance for an F-150 really comes down to what you prioritize as the most important aspects of your insurance coverage.

We put together a list of five companies that may be worth considering when buying insurance for your Ford. A few of the strong points (and the not-so-strong points) are listed for each one.

These are all larger companies, most of which you have probably heard of. But it’s worth pointing out that there are many smaller companies that can also insure your F-150 just as well.

Those companies may only insure vehicles in a state or two, and the easiest way to find them is probably to contact an independent insurance agent.

Without further ado, here is our list of some of the companies we recommend for finding the best insurance for your F-150.

Progressive

Estimated Progressive car insurance rate on a 2023 Ford F-150: $1,543 per year

Get a Quote Or read more about auto insurance coverages offered at Progressive.com

Nationwide

Estimated Nationwide car insurance rate on a 2023 Ford F-150: $1,776 per year

Get a Quote Or read more about auto insurance coverages offered at Nationwide.com

GEICO

Estimated GEICO car insurance rate on a 2023 Ford F-150: $1,489 per year

Get a Quote Or read more about auto insurance coverages offered at GEICO.com

State Farm

Estimated State Farm car insurance rate on a 2023 Ford F-150: $1,704 per year

Get a Quote Or read more about auto insurance coverages offered at StateFarm.com

Safeco

Estimated Safeco car insurance rate on a 2023 Ford F-150: $1,579 per year

Get a Quote Or read more about auto insurance coverages offered at Safeco.com

USAA

Estimated USAA car insurance rate on a 2023 Ford F-150: $1,220 per year

Get a Quote Or read more about auto insurance coverages offered at USAA.com

References and Additional Resources

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