Really, the only way to find affordable Ford F-150 insurance is to compare prices once a year from insurers in Minneapolis.
Step 1: Read about individual coverages and the things you can control to prevent expensive coverage. Many policy risk factors that are responsible for high rates such as traffic violations, accidents, and a poor credit score can be improved by making minor driving habit or lifestyle changes. Continue reading for the details to help reduce premium rates and find missing discounts.
Step 2: Obtain price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while independent agencies can provide rate quotes for a wide range of insurance providers.
Step 3: Compare the new quotes to your existing coverage to see if a cheaper rate is available in Minneapolis. If you find better rates and buy the policy, make sure there is no lapse in coverage.
Step 4: Notify your agent or company to cancel your current policy. Submit a down payment and signed policy application for your new coverage. As soon as you have the new policy, place the new certificate of insurance along with your vehicle registration.
An important bit of advice to remember is to use identical deductibles and limits on every price quote and and to get rate quotes from as many different insurance providers as possible. This ensures a fair rate comparison and a thorough price selection.
It’s easy to assume that auto insurance companies don’t want policyholders to shop around. Consumers who perform rate comparisons are inclined to switch companies because there is a good chance of finding coverage at a cheaper rate. A recent survey found that consumers who compared prices once a year saved over $865 a year compared to other drivers who never compared rates.
If finding discount rates on auto insurance is the reason you’re reading this, then having some insight into the best ways to shop for insurance rates can save money and time.
Components of Your Ford F-150 Insurance Prices
The best way to find cheaper insurance is to take a look at some of the things that go into determining the rates you pay for insurance. If you know what determines premiums, this empowers consumers to make smart changes that can earn you better insurance rates.
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Male prices may be higher – Statistics show women are more cautious behind the wheel. However, this does not mean males are worse at driving than females. Men and women get in fender benders at a similar rate, but the men tend to have more serious accidents. Men also have more aggressive citations like DUI and reckless driving. Young men ages 16 to 20 are several times more likely to be in an accident so it costs more to insure them.
The information below shows the comparison of Ford F-150 insurance premiums for male and female drivers. The data assumes no accidents, no driving violations, comprehensive and collision coverage, $250 deductibles, drivers are single, and no policy discounts are applied.
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Lower performance equals lower insurance rates – The make and model of the car or truck you are insuring makes a huge difference in your auto insurance rates. Lower cost passenger cars receive the most favorable rates, but your final cost has many other factors.
The following chart is based on a married female driver age 30, full coverage with $100 deductibles, and no discounts or violations. The chart compares Ford F-150 rates compared to other models of vehicles that have a range of performance risks.
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Youthful drivers cost more – Youthful drivers in Minnesota tend to be easily distracted with other occupants in the car so they pay higher insurance rates. Adding a young driver to your insurance policy can cause a big jump in price. Older drivers are more cautious drivers, cost insurance companies less in claims, and get fewer tickets.
The chart below uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.
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Better drivers pay better prices – Your driving citation history can have a huge impact on auto insurance premiums. Good drivers pay lower auto insurance prices compared to bad drivers. Only having one speeding ticket may cause rates to rise twenty percent or more. Drivers who get serious citations such as DUI or willful reckless driving may find that they have to to file a SR-22 with their state in order to legally drive.
The chart below shows how traffic citations and at-fault accidents can impact Ford F-150 insurance rates for different age categories. The rate quotes are based on a married male driver, full physical damage coverage, $1,000 deductibles, and no discounts are taken into consideration.
- Never let your coverage lapse – Going without insurance can be a quick way to increase your renewal premiums. And not only will your rates increase, the inability to provide proof of insurance may earn you a revoked license or a big fine.
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Insurance losses for a Ford F-150 – Companies factor in historical loss data to determine a rate that will be profitable for them. Models that statistically have higher frequency or amount of claims will cost more for specific coverages. The table below shows the historical insurance loss data for Ford F-150 vehicles.
For each coverage category, the claim probability for all vehicles, regardless of manufacturer or model, is equal to 100. Numbers shown that are under 100 indicate better than average losses, while numbers that are greater than 100 indicate higher probability of having a loss or tendency to have higher losses.
Auto Insurance Loss Data for Ford F-150 Models Specific Ford Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Ford F-150 SuperCab 4WD 67 110 39 Ford F-150 SuperCrew 2WD 42 93 72 Ford F-150 SuperCrew 4WD 75 76 101 56 57 76 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Ford F-150 insurance coverage information
The coverage table displayed below covers a range of insurance premium costs for Ford F-150 models. Learning more about how car insurance premiums are calculated can help customers make decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| F-150 XL Regular Cab 2WD | $264 | $390 | $428 | $26 | $128 | $1,236 | $103 |
| F-150 STX Regular Cab 2WD | $264 | $498 | $428 | $26 | $128 | $1,344 | $112 |
| F-150 XL Super Cab 2WD | $264 | $498 | $428 | $26 | $128 | $1,344 | $112 |
| F-150 XLT Regular Cab 2WD | $264 | $498 | $428 | $26 | $128 | $1,344 | $112 |
| F-150 STX Super Cab 2WD | $264 | $498 | $428 | $26 | $128 | $1,344 | $112 |
| F-150 XL Crew Cab 2WD | $302 | $498 | $428 | $26 | $128 | $1,382 | $115 |
| F-150 XLT Super Cab 2WD | $302 | $498 | $428 | $26 | $128 | $1,382 | $115 |
| F-150 STX Regular Cab 4WD | $302 | $498 | $428 | $26 | $128 | $1,382 | $115 |
| F-150 XL Regular Cab 4WD | $302 | $498 | $428 | $26 | $128 | $1,382 | $115 |
| F-150 FX2 Super Cab 2WD | $302 | $498 | $428 | $26 | $128 | $1,382 | $115 |
| F-150 XLT Crew Cab 2WD | $302 | $498 | $428 | $26 | $128 | $1,382 | $115 |
| F-150 XL Super Cab 4WD | $302 | $498 | $428 | $26 | $128 | $1,382 | $115 |
| F-150 XLT Regular Cab 4WD | $302 | $498 | $428 | $26 | $128 | $1,382 | $115 |
| F-150 XL Crew Cab 4WD | $342 | $498 | $428 | $26 | $128 | $1,422 | $119 |
| F-150 STX Super Cab 4WD | $342 | $498 | $428 | $26 | $128 | $1,422 | $119 |
| F-150 XLT Super Cab 4WD | $342 | $498 | $428 | $26 | $128 | $1,422 | $119 |
| F-150 FX2 2WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 Lariat Super Cab 2WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 Lariat Crew Cab 2WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 FX4 Super Cab 4WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 XLT Crew Cab 4WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 FX4 4WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 Lariat Crew Cab 4WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 SVT Raptor Super Cab 4WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 Lariat Super Cab 4WD | $342 | $606 | $428 | $26 | $128 | $1,530 | $128 |
| F-150 Lariat Crew Cab Platinum 2WD | $342 | $714 | $428 | $26 | $128 | $1,638 | $137 |
| F-150 Lariat Crew Cab Harley 2WD | $342 | $714 | $428 | $26 | $128 | $1,638 | $137 |
| F-150 Lariat King Ranch 2WD | $342 | $714 | $428 | $26 | $128 | $1,638 | $137 |
| F-150 Lariat King Ranch 4WD | $380 | $714 | $428 | $26 | $128 | $1,676 | $140 |
| F-150 Lariat Crew Cab Harley 4WD | $380 | $714 | $428 | $26 | $128 | $1,676 | $140 |
| F-150 Lariat Crew Cab Platinum 4WD | $380 | $714 | $428 | $26 | $128 | $1,676 | $140 |
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Price information does not factor in zip code location which can modify auto insurance rates noticeably.
The example below highlights how deductible choice and can affect Ford F-150 yearly insurance costs for each different age category. The costs are based on a married female driver, full coverage, and no other discounts are factored in.
Do you need full coverage?
The diagram below illustrates the difference between Ford F-150 premium costs with and without full coverage. The premiums assume a clean driving record, no claims, $500 deductibles, single marital status, and no discounts are applied.
When to stop paying for full coverage
There is no specific rule of when to phase out full coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
For example, let’s assume your Ford F-150 book value is $3,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $2,000 after paying the physical damage deductible. If you are paying in excess of $200 a year for physical damage coverage, then it’s probably a good time to buy liability coverage only.
There are some scenarios where eliminating full coverage is not recommended. If you haven’t paid off your loan, you have to keep full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.
Insurance discounts help lower rates for Ford F-150 insurance in Minneapolis
Properly insuring your vehicles can get expensive, but you may be missing some discounts that many consumers don’t even know exist. Some trigger automatically at the time of quoting, but a few need to be inquired about prior to getting the savings. If you check and find you aren’t receiving every discount you deserve, you’re paying more than you need to.
- Telematics Data Discounts – Minneapolis drivers who agree to allow driving data submission to scrutinize driving patterns through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates as long as the data is positive.
- Bundle and Save – When you combine your auto and homeowners insurance with one insurance company you could save at least 10% off all policies.
- Own a Home and Save – Owning a home in Minneapolis can help you save on insurance because maintaining a house requires a higher level of personal finance.
- Military Rewards – Being on active deployment in the military can result in better insurance rates.
- ABS Brakes – Cars, trucks, and SUVs that have anti-lock braking systems can reduce accidents so you can save 10 percent or more.
- Passenger Safety Discount – Vehicles with factory air bags may qualify for discounts of 25 to 30%.
- Employee of Federal Government – Having worked for a branch of the government could qualify for a slight premium decrease with certain companies.
- Cautious Driver Discount – Insureds who avoid accidents can save as much as half off their rates as compared to drivers with claims.
- Discounts for Multiple Vehicles – Drivers who insure multiple cars or trucks on a single policy can get a discount for every vehicle.
- Good Students Pay Less – A discount for being a good student may save you up to 25%. The good student discount can last well after school through age 25.
Discounts lower rates, but most of the big mark downs will not be given to your bottom line cost. Most only reduce specific coverage prices like liability and collision coverage. Despite the appearance that all those discounts means the company will pay you, it doesn’t quite work that way. Any qualifying discounts should definitely cut the premium cost.
The information below visualizes the comparison of Ford F-150 insurance prices with and without discounts applied to the rates. The information is based on a female driver, no tickets, no at-fault accidents, Minnesota state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, claim-free, safe-driver, homeowner, and marriage discounts applied.
A few companies that may offer many of the previously listed discounts include:
Before you buy a policy, ask every company which discounts can lower your rates. Some of the discounts discussed earlier may not apply everywhere.
Don’t give up on affordable rates
The cheapest Ford F-150 insurance in Minneapolis can be sourced both online in addition to many Minneapolis insurance agents, so you need to quote Minneapolis car insurance with both to have the best selection. A few companies may not provide rates over the internet and many times these small insurance companies prefer to sell through independent agencies.
We’ve covered many ways to save on Ford F-150 insurance in Minneapolis. It’s most important to understand that the more rate quotes you have, the higher your chance of finding affordable Ford F-150 insurance quotes. Drivers may even discover the best rates are with a company that doesn’t do a lot of advertising.
As you restructure your insurance plan, do not sacrifice coverage to reduce premiums. There are a lot of situations where consumers will sacrifice liability limits or collision coverage only to regret that the few dollars in savings costed them thousands. The proper strategy is to buy a smart amount of coverage at the lowest possible cost, but don’t skip important coverages to save money.
Additional insurance information is available at the links below
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Who Has Cheap Auto Insurance Quotes for Teachers in Minneapolis? (FAQ)
- Who Has Affordable Minneapolis Auto Insurance for a Honda Pilot? (FAQ)
- What Insurance is Cheapest for Drivers with Good Credit in Minneapolis? (FAQ)
- How Much are Car Insurance Rates for Active Military in Minneapolis? (FAQ)
- Understanding Rental Car Insurance (Insurance Information Institute)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Coverage Information (Progressive Insurance)
- Side Impact Crash Tests (iihs.org)