Who Has the Cheapest Insurance Quotes for a Ford F-150 in Minnesota?

The chances of finding cheap coverage for a Ford F-150 in Minnesota depends on a lot of rating factors like annual miles driven, if you have ever had a coverage lapse, and any prior driving citations you have received. Drivers in Minnesota on average pay around $1,180 annually to buy insurance for a Ford F-150, but that cost is a projection based on rates for a 40-year-old single male driver that included full coverage including both comprehensive and collision and $250 physical damage deductibles.

More likely than not, you are not 40 and maybe not even a male, you might be married instead of single, or maybe you have a couple of speeding tickets. There is no perfect policy for every driver, so the best method for finding the most affordable coverage for your Ford is to take your time and compare rates from as many companies as possible. In just a couple of minutes you will be able to compare rates from some of the best companies around.

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Vehicle trim level will influence the cost of insurance, so the price to insure a F-150 XL Regular Cab 2WD will cost $346 less than the insurance cost for the fancier F-150 Lariat Crew Cab Platinum 4WD trim level, as shown below.

Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Rates do not factor in specific garaging location which can modify insurance rates greatly.

Establishing which companies have the most affordable insurance rates for a Ford F-150 takes more time in order to find the most economical policy. Each insurer uses their own method to set premium rates, so let’s take a look at the insurance companies with the most affordable rates in Minnesota.

It’s important to know that Minnesota insurance rates are impacted by many things which can substantially change the price of your policy. Simply having a birthday, buying another vehicle, or having a fender bender may cause policy rate changes that can cause some rates to be more affordable than others.

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Travelers has some of the best car insurance rates in Minnesota at around $647 per year. USAA, Farm Bureau Mutual, Western National, and The Hartford would also be considered some of the best Minnesota insurance companies.

As shown in the rates above, if you currently have a policy with Western National and switched to USAA, you could earn a yearly price reduction of in the vicinity of $78. Drivers with The Hartford could save as much as $113 a year, and West Bend Mutual insureds might lower prices by up to $158 a year.

To discover how much you can save, click here or visit any of the companies below.

Understand that those policy prices are averages for all insureds and vehicles and are not factoring in a specific rate factor for a Ford F-150. So the car insurance company that fits your needs best may not even be in the company chart above. That points out the importance of why you need to compare rates from as many companies as possible using your own personal information and vehicle type.

Rate difference between full and liability-only coverage

Finding the cheapest insurance for a Ford F-150 in Minnesota is the goal of most people, and one of the quickest ways to lower the cost of insurance is to not insure for full coverage. The illustration below visualizes the comparison of insurance costs with full coverage compared to only the Minnesota minimum liability coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single status, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 2485,1129],[‘Age 30’, 1319,621],[‘Age 40’, 1275,575],[‘Age 50’, 1169,539],[‘Age 60’, 1137,529],[‘Age 70’, 1423,707]]);var options = {title: ‘Full Coverage Rates Versus Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Ford F-150 in Minnesota’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

On average, physical damage insurance costs $1,468 per year more than just insuring for liability. That is a large expense which might make you wonder if paying for full coverage is worth it. There is no definitive guideline for phasing out physical damage coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then you might consider buying liability only.

For example, let’s assume your vehicle’s book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $2,000 after you pay the deductible. If premium cost is more than $200 a year for physical damage coverage, then it might be time to buy liability only.

The diagram below shows how choosing a deductible can affect yearly insurance costs when quoting cheap insurance for a Ford F-150. The premium estimates are based on a single female driver, comp and collision included, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2789,2581,2349,2129],[‘Age 30’, 1937,1785,1605,1433],[‘Age 40’, 1797,1659,1499,1343],[‘Age 50’, 1573,1453,1311,1177],[‘Age 60’, 1519,1399,1265,1137],[‘Age 70’, 1763,1633,1485,1343]]);var options = {title: ‘Effect of Deductibles on Ford F-150 Insurance Rates in Minnesota’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Ford F-150’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

A 50-year-old driver could lower their policy premium by $262 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $396 by using a $1,000 deductible. Young drivers, like the 20-year-old, could potentially save up to $660 or even more by using a higher deductible.

When choosing a higher deductible, it is a good idea to have enough spare savings to enable you to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.