Ford F-150 Insurance Cost for 2022

• Ford F-150 insurance cost averages $1,478 per year, $739 for a 6-month policy, or $123 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 $1,906 a year, an increase of $428 a year or 29%, whereas high deductibles can decrease rates to $1,254 a year, a decrease of $224 a year or 15.2%.

How much does Ford F150 insurance cost?

Ford F-150 car insurance costs on average $1,478 a year, or about $123 if paid each month. When compared to the average insurance policy cost for the entire 2022 large truck segment, insurance rates for a F-150 are around $179 cheaper each year.

Average Ford F-150 insurance cost per month ranges from $106 to $140, 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 $1,478 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 XL Regular Cab 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 $29,990.

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 2022 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 2022 Ford F-150 averages around $1,478 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 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 $1,657, the F150 averages about $179 less per year.

When compared to all vehicles (not just other large trucks) it also fares well, as the average F150 insurance rate is $89 less than the national average of $1,567.

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 $50,695, ranging from the cheapest XL Regular Cab 4WD model at $32,790 to the most expensive Limited SuperCrew costing $73,105, the full-size half-ton pickups closest in price to the Ford F150 for the 2022 model year are the Toyota Tundra, Ram Truck, GMC Sierra, and Nissan Titan.

Here’s how those four models compare to a 2022 Ford F150 for both average price and insurance cost.

• Ford F150 vs. Toyota Tundra – The average MSRP for a 2022 Ford F150 is $917 cheaper than the Toyota Tundra, at $50,695 compared to $51,612. The cost to insure a Ford F150 compared to the Toyota Tundra is $162 less annually on average.
• Ford F150 vs. Ram Truck – The Ram Truck has an average retail price of $48,603, ranging from $29,515 to $95,195, which is $2,092 cheaper than the Ford F150. Insurance on a 2022 Ford F150 costs an average of $264 less every 12 months than the Ram Truck.
• Ford F150 vs. GMC Sierra – The GMC Sierra has an average retail price of $47,063, ranging from $32,895 to $61,795, which is $3,632 cheaper than the Ford F150. Insuring the Ford F150 compared to the GMC Sierra costs an average of $74 less per year.
• Ford F150 vs. Nissan Titan – The average MSRP for a 2022 Ford F150 is $5,183 more expensive than the Nissan Titan, at $50,695 compared to $45,512. The average insurance cost for a 2022 Ford F150 compared to the Nissan Titan is $132 less annually.

For the large truck segment, the spread is pretty tight when it comes to insurance cost (excluding the Hummer EV). Only about $260 separates the F-150 from the Ram 1500, and depending on the trim level, insuring a higher-appointed F-150 like the Limited or Platinum could easily cost more than insuring many Ram 1500 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 of $1,567, the Ford F150 should be fairly easy on the wallet when the car insurance bill comes (depending on trim level and options, of course).

References and Additional Resources

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