Finding economical insurance for a Ford Explorer is dependent upon a complicated rating formula that uses factors such as the mileage of your daily commute, your claims history, and whether or not you are a good driver. Drivers will pay around $826 a year for Explorer insurance, but that figure is calculated based on a 30-year-old married female driver with full comprehensive and collision coverage and $100 deductibles.
Odds are that you’re not a 30-year-old female, you might be single instead of married, or maybe you have a teen driver on your policy that needs to be considered. Have just a small change in the rating criteria used to formulate rates can make a big difference in the price of a policy.
This example demonstrates why the best method for finding the cheapest insurance price for your Ford is to compare as many rates as possible. In just a couple of minutes you will receive prices from the best auto insurance companies available.
The specific trim level will have an impact price, so the price you pay to insure a Explorer XLT 2WD trim level will be $94 less than the price to insure the more well-appointed Explorer Limited AWD version, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Explorer XLT 2WD||$208||$312||$254||$16||$76||$866||$72|
|Explorer Eddie Bauer 2WD||$208||$312||$254||$16||$76||$866||$72|
|Explorer XLT 4WD||$208||$312||$254||$16||$76||$866||$72|
|Explorer XLT AWD||$208||$312||$254||$16||$76||$866||$72|
|Explorer Eddie Bauer 4WD||$234||$380||$254||$16||$76||$960||$80|
|Explorer Eddie Bauer AWD||$234||$380||$254||$16||$76||$960||$80|
|Explorer Limited 2WD||$234||$380||$254||$16||$76||$960||$80|
|Explorer Limited 4WD||$234||$380||$254||$16||$76||$960||$80|
|Explorer Limited AWD||$234||$380||$254||$16||$76||$960||$80|
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Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Rates do not factor in garaging location in Raleigh which can revise premiums significantly.
Insurance company ratings
Ending up with a highly-rated auto insurance company can be rather challenging considering how many companies there are in Raleigh. The rank data shown below could help you choose which companies you want to consider when trying to find the cheapest insurance for a Ford Explorer.
The ratings below include companies that insure vehicles nationwide, so smaller companies are not factored into this list. To check prices from these top insurers and more, click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Raleigh car insurance rates
Insurance companies that sell policies for a Ford Explorer may provide policy discounts that could reduce prices by as much as 35% or more if you meet specific criteria. A few of the larger companies and the discounts they provide are included below.
- American Family has discounts for accident-free, good student, bundled insurance, TimeAway discount, and Steer into Savings.
- Farm Bureau offers discounts for 55 and retired, safe driver, renewal discount, driver training, youthful driver, good student, and multi-vehicle.
- State Farm may have discounts that include good driver, good student, safe vehicle, multiple policy, defensive driving training, and multiple autos.
- Travelers policyholders can earn discounts including continuous insurance, multi-policy, good student, hybrid/electric vehicle, student away at school, and save driver.
- The Hartford may include discounts for bundle, good student, defensive driver, anti-theft, driver training, and vehicle fuel type.
- GEICO may offer discounts for good student, military active duty, multi-policy, emergency military deployment, multi-vehicle, and membership and employees.
- Progressive discounts include good student, online signing, continuous coverage, homeowner, multi-policy, and multi-vehicle.
The illustration below shows the difference between insurance costs with and without policy discounts. The costs are based on a female driver, no claims or driving violations, North Carolina state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with multiple vehicle, vehicle safety, multiple policy, passive restraint, claim-free, and homeowner discounts applied. When these discounts are applied, theaverage amount saved on insurance for a Ford Explorer is 27% or $379.
The information below highlights how deductible choice can increase or decrease insurance costs when searching for cheap insurance for a Ford Explorer. The premiums are based on a married female driver, full coverage, and no discounts are applied.
A 50-year-old driver could lower their policy premium by $212 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $320 by choosing a $1,000 deductible. Young drivers, like the Age 20 chart data, could lower their rates $524 every year by using a higher deductible.
When choosing a higher deductible, it is essential to have emergency funds available to enable you to pay the extra out-of-pocket expense that is associated with using high deductibles.
What aren’t you shopping around?
Raleigh insurance rates are determined by lots of factors that control your annual premium. Simply having another birthday, buying higher coverage limits, or having an accident may prompt premium changes that can cause some rates to be much cheaper than others.
Not only may things change on your end, but insurance companies change rates every year or even multiple times each year in order to maintain liquidity for claims. Higher than normal claims may cause rate hikes, while lower claim levels may cause cheaper Explorer insurance rates.
For example, the bar chart below shows which companies have the cheapest car insurance in Raleigh, NC for a 30-year-old female driver with no prior accidents, a clean driving record, and good financial standing. If we compare prices based on her current situation, Progressive might offer the lowest car insurance rates in Raleigh at $708 per year. This is $164 less than the average price paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National are also on the list of the cheapest Raleigh, NC auto insurance companies.
Now we will give the driver from the first rate comparison a claim surcharge, a lower credit rating, and a speeding ticket. Since every insurance provider has their own unique process to determining premium rates, analyzing rate quotes may now show a different set of companies as shown below.
State Farm now has the cheapest rate in Raleigh, NC with GEICO, Auto-Owners, National General, and Utica National also being competitive. This demonstrates why drivers need to shop around with many companies to get the most economical insurance quotes for a Ford Explorer. Car insurance prices consist of many different factors and change frequently, so the best company the last time you shopped your coverage around may now not even be in the top five.
How to find more affordable insurance for a Ford Explorer
Lowering your rates is not difficult, and here are a few money-saving solutions that can help Raleigh drivers quote cheaper auto insurance.
- Serious violations like DUI or reckless driving can increase rates dramatically
- At-fault accidents can raise rates significantly
- Good credit scores may lower your rates
- Pay less by remaining claim-free
- Insure your home and auto with the same company
- Increase the comprehensive and collision deductibles on your policy
- Shop around once a year for cheaper rates
That last idea is extraordinarily crucial, as we hit on in this piece. Auto insurance rates can change significantly in a year, so don’t hesitate to switch carriers if a better deal can be had. Having a favorite company is fine, but it isn’t a good idea if that faithfulness ends up costing you hundreds every year. Take a few minutes and shop around to find cheaper insurance for a Ford Explorer in Raleigh.