How Much Does Insurance Cost for a Ford Explorer in Maryland?

Our staff writers always rib each other than when writing about auto insurance, the word affordable should never be used anywhere in the article as a descriptor for auto insurance rates. It’s just reality that cheap car insurance for a Ford Explorer is not always easy to find. Don’t let that spoil your day, because we will teach you how you can get auto insurance that is more budget-friendly.

The chances that you’ll find the cheapest coverage for a Ford Explorer in Maryland is contingent on dozens of factors like your financial responsibility, whether or not you have prior claims, and physical damage deductibles. Drivers on average will pay $1,280 a year to insure a Ford Explorer, but that amount is an estimate calculated based on a 30-year-old single male with full physical damage coverage and $500 deductibles.

But there is a good chance that you are not exactly 30 years old and possibly not even male, you might be married instead of single, and there is a good chance that you need different coverage limits than the exampe. This example demonstrates why the best method for finding affordable rates for your Ford is to just take the time to do a thorough rate comparison.

View Ford Explorer Insurance Rates

The trim level of your Ford will have an impact the insurance rate, so the rate you pay to insure a Explorer XLT 2WD trim level will be $114 less than the cost to insure the fancier Explorer Limited AWD version, as demonstrated by the prices below.

Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Prices do not factor in zip code location which can impact rates considerably.

Picking the top insurer is hard considering how many companies sell coverage in Maryland. The ranking data below may help you decide which coverage providers you want to consider shopping prices with. The rankings below are only made up of large, nationwide insurance companies, so companies that only write business in Maryland or surrounding areas will not be included in this list.

Difference between full coverage and liability only rates

Finding cheap insurance for a Ford Explorer in Maryland is probably important to the majority of people, and one good way to lower the cost of insurance is to not buy full coverage. The diagram below illustrates the comparison of yearly insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no violations or accidents, $1,000 deductibles, single marital status, and no discounts are applied.

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Averaged for all ages 20 through 70, comp and collision coverage costs an extra $2,042 per year over having just liability coverage. At some point, about every driver wonders if buying full coverage is worth the money. There is no clear-cut rule to stop paying for full coverage, but there is a broad guideline. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let’s pretend your vehicle’s book value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $3,000 after the policy deductible has been paid. If premiums are more than $300 a year to have full coverage, then it could be time to drop full coverage.

The diagram below illustrates how your deductible choice can impact insurance rates when quoting cheap insurance for a Ford Explorer. The data is based on a single female driver, comp and collision included, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 3911,3593,3239,2905],[‘Age 30’, 2733,2499,2227,1967],[‘Age 40’, 2525,2315,2071,1835],[‘Age 50’, 2211,2027,1813,1607],[‘Age 60’, 2135,1957,1751,1555],[‘Age 70’, 2473,2271,2045,1831]]);var options = {title: ‘Deductibles and Ford Explorer Insurance Rates in Maryland’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Ford Explorer’,minValue: 0,format: ‘$###,###’},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 save $398 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $604 by using a $1,000 deductible. Youthful drivers, like the 20-year-old example, could possibly save $1,006 each year just by choosing higher deductibles when buying full coverage.

If you do decide to increase your deductibles, it is essential to have plenty of discretionary funds to offset the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Company comparison: State Farm vs Geico vs Progressive vs Allstate

If you want the best insurance for an Explorer, the four most popular companies are State Farm, Geico, Progressive, and Allstate. The following table compares ratings for price and service, as well as some optional coverages that are available for buyers.