Cheap Ford F-150 car insurance quotes
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- Insuring your Ford F-150 in Canada
- How much is it to insure a Ford F-150 for a young driver?
- How much is it to insure a Ford F-150 for an experienced driver?
- How much can a traffic ticket or an accident raise your insurance?
- How to get cheaper car insurance for your Ford F-150
- Should you buy or lease your Ford F-150?
- Protecting your F-150 with Ford Credit
Insuring your Ford F-150 in Canada
Since its founding in 1903, Ford has been a trailblazer in the automotive industry, and the Ford F-150 stands as a shining example of this legacy. As one of the most popular and reliable pickup trucks in Canada, the Ford F-150 combines rugged durability with cutting-edge technology, making it a top choice for drivers nationwide. Even better, Ford vehicles, including the F-150, don’t appear on Équité’s 2023 list of the top 10 most stolen vehicles in Canada, which can help keep your insurance premiums more manageable by reducing theft-related risk.
But does driving a Ford F-150 automatically mean lower insurance premiums? Not necessarily. Let’s explore the factors that influence your insurance costs.
How much is it to insure a Ford F-150 for a young driver
If you’re a young driver with a Ford F-150, you might be surprised by how high your insurance premiums are. For an 18-year-old insurance rates can start from $11,514 per month. While it can feel discouraging, these costs are often tied to how insurers assess the risks associated with both young drivers and the Ford F-150.
Here's why:
Driver's risk level: Young drivers are considered higher risk by insurers due to their limited experience, which statistically increases the likelihood of accidents. For instance, a teenager with a new driver’s license will typically pay more than an experienced driver in their 30s with a clean record.
Model-specific impacts: The Ford F-150 is a powerful and versatile truck, often used for work, recreation, and towing. While it’s not a high-performance sports car, its size and power can still influence insurance rates, as larger vehicles can cause more damage in accidents, leading to higher claim costs.
Technology and repair expenses: The Ford F-150 is equipped with advanced technology and safety features, which can make repairs more expensive. Insurers account for these potential costs when setting premiums.
Theft risk: The Ford F-150 is one of the most popular trucks in Canada, and its popularity can make it a target for theft. While it doesn’t rank as high as some other brands on theft lists, insurers still consider this factor when calculating premiums.
If you’re looking to reduce these costs, focus on building a safe driving record, exploring discounts, and choosing insurance-friendly configurations of the Ford F-150. Over time, these steps can help lower your premiums.
Age | Insurance cost range |
|---|---|
18 | $11,514 - $13,104 |
19 | $8,561 - $10,352 |
20 | $7,343 - $9,547 |
21 | $6,556 - $8,953 |
22 | $5,199 - $8,005 |
23 | $4,852 - $7,240 |
24 | $4,710 - $6,145 |
25 | $3,978 - $5,396 |
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How much is it to insure a Ford F-150 for an experienced driver
Even with years of driving experience, insurance rates for a Ford F-150 can vary based on several important factors. While a clean driving record and safe habits work in your favor, other elements still play a role in determining your premium.
Age and experience: Experienced drivers in their 30s, 40s, and 50s often enjoy the best insurance rates. However, premiums may start to rise for older drivers due to potential health concerns or slower reaction times.
Ford F-150 specifics: The Ford F-150 is a versatile and powerful truck, but its size and repair costs can influence insurance rates. While its strong safety ratings and advanced features help, the F-150’s popularity and potential for higher repair expenses may lead to slightly higher premiums compared to smaller vehicles.
Driving record: A spotless driving history is one of the best ways to keep insurance costs low. However, if you’ve had a recent accident, speeding ticket, or other violation, your premium will increase, even as an experienced driver.
Mileage and usage: How you use your Ford F-150 matters. If it’s your daily workhorse for commuting or towing, higher mileage can increase your risk of accidents, leading to higher premiums. Conversely, occasional use or low mileage may qualify you for discounts.
Location and parking: Where you live and park your F-150 impacts your insurance rate. Urban areas with heavy traffic or higher crime rates often result in higher premiums. Parking in a secure garage or using anti-theft devices can help reduce costs.
Safety features: Newer Ford F-150 models come equipped with advanced safety technologies like lane-keeping assist, adaptive cruise control, and automatic emergency braking. These features can help lower premiums by reducing the likelihood of accidents.
While some factors are beyond your control, there are ways to save, so be sure to explore all available options.
Age | Insurance Cost Range |
|---|---|
30 | $3,406 - $3,936 |
35 | $3,274 - $3,780 |
40 | $2,639 - $3,648 |
45 | $2,389 - $3,624 |
50 | $2,278 - $3,540 |
55 | $2,218 - $3,072 |
60 | $2,192 - $3,000 |
65 | $2,185 - $2,796 |
Methodology
The table above outlines the average cost of car insurance in Toronto for a female G-licensed policyholder driving a 2023 Ford F-150 King Ranch HEV SuperCrew. Using our rate calculator, we calculated average auto insurance premiums by age, assuming the driver has a clean driving record. All ranges and averages presented represent the three lowest quotes offered. The insurance policies used for comparison include $1,000,000 in coverage, along with a $1,000 deductible for both collision insurance and comprehensive insurance.
It’s important to note that these quoted rates are specific to this driver profile. You are more likely to find rates at the lower end of the provided range by comparing quotes from different providers and selecting the one that offers the best value for your needs.
Disclaimer
Auto insurance rates are influenced by a variety of factors, including (but not limited to) your postal code, driving history, the specific make and model of the vehicle, additional safety features, whether you attended driving school, and more. This means the premiums for individuals with different circumstances may vary significantly from the rates shown here. Always compare personalized quotes to ensure you're getting the best coverage at the best price.
How much can a traffic ticket or accident raise your insurance?
When driving the dependable Ford F-150 traffic tickets and accidents can have a significant impact on your insurance premiums. For instance, a speeding ticket can flag you as a higher-risk driver to insurers, potentially increasing your rates—even if it’s your first offense.
Accidents, particularly those where you’re found at fault, can lead to even steeper premium hikes. Insurance companies often view at-fault accidents as an indicator of future claims, which makes them adjust your rates accordingly.
Here’s what you might expect in terms of insurance rate changes after major convictions or at-fault accidents:
Age | Major convictions | At-fault accidents | Insurance cost range |
|---|---|---|---|
30 | None | None | $3,406 - $3,936 |
None | 1 | $5,701 - $8,235 | |
1 | None | $6,306 - $7,020 | |
1 | 1 | $16,602 - $19,617 | |
35 | None | None | $3,274 - $3,780 |
None | 1 | $5,486 - $7,624 | |
1 | None | $5,926 - $6,732 | |
1 | 1 | $16,572 - $18,394 | |
40 | None | None | $2,639 - $3,648 |
None | 1 | $5,302 - $7,279 | |
1 | None | $4,363 - $6,480 | |
1 | 1 | $15,129 - $16,719 | |
45 | None | None | $2,389 - $3,624 |
None | 1 | $5,265 - $7,040 | |
1 | None | $3,876 - $6,420 | |
1 | 1 | $14,268 - $16,602 | |
50 | None | None | $2,278 - $3,540 |
None | 1 | $5,143 - $$7,010 | |
1 | None | $3,657 - $6,276 | |
1 | 1 | $13,800 - $16,602 | |
55 | None | None | $2,218 - $3,072 |
None | 1 | $4,472 - $7,120 | |
1 | None | $3,538 - $5,436 | |
1 | 1 | $13,329 - $16,602 | |
60 | None | None | $2,192 -$3,000 |
None | 1 | $4,369 - $6,925 | |
1 | None | $3,487 - $5,340 | |
1 | 1 | $12,930 - $16,602 | |
65 | None | None | $2,185 - $2,796 |
None | 1 | $4,127 - $4,584 | |
1 | None | $3,470 - $4,529 | |
1 | 1 | $12,705 - $13,303 |
Should you buy or lease your Ford F-150?
Deciding whether to buy or lease your Ford F-150 is an important choice that depends on your budget, how you plan to use the truck, and your long-term needs. Buying gives you full ownership and the freedom to modify your F-150 to your liking, while leasing often comes with lower monthly payments and the opportunity to upgrade to a new model every few years.
Here’s a look at the advantages and disadvantages to help you decide what works best for you and your Ford F-150:
Leasing
Pros:
- Lower monthly payments: Leasing typically costs less per month than buying, which is helpful if you’re on a tight budget but still want a reliable truck. For instance, if you need a powerful and dependable vehicle for work, leasing a Ford F-150 might fit your budget better than buying.
- Access to newer models: Leasing allows you to drive a new truck every few years, which is great if you enjoy having the latest features and technology. For example, if you want the newest towing and safety features, leasing ensures you’re always driving a modern Ford F-150.
- Warranty coverage: Most leases last as long as the manufacturer’s warranty, so you won’t have to worry about unexpected repair costs during the lease term. This is especially useful if you’re leasing a Ford F-150 for three years and want peace of mind about maintenance.
- Flexibility: At the end of the lease, you can simply return the truck, which is ideal if you’re unsure about your long-term vehicle needs. For instance, if you’re planning to upgrade to a different model or configuration in a few years, leasing gives you the flexibility to avoid long-term commitments.
Cons:
- Mileage limits: Leases come with mileage restrictions, and exceeding them can result in costly penalties. For example, if you frequently use your Ford F-150 for long hauls or road trips, leasing might not be the best option.
- No ownership: You don’t own the truck at the end of the lease, so you’ll need to return it or pay to buy it. This could be frustrating if you’ve grown attached to the Ford F-150 and want to keep it.
- Customization restrictions: You can’t modify the truck, which could be a dealbreaker if you want to add personal touches like a lift kit or custom rims. For instance, if you’re leasing a Ford F-150 and want to make it off-road ready, leasing won’t allow for those changes.
- Potential fees: You may face charges for wear and tear or early termination, such as if the interior gets damaged or you end the lease early. For example, if you use your Ford F-150 for heavy-duty work and it sustains wear, you might be charged for the damage when returning the truck.
Buying
Pros:
- Ownership: Once you’ve paid off the loan, the truck is yours to keep, which can save you money in the long run if you plan to drive it for many years. For instance, if you buy a Ford F-150 and keep it for 10 years, you’ll avoid monthly payments after the loan is paid off.
- No mileage limits: You can drive as much as you want without worrying about penalties, making it a better option for road trips or heavy use. For example, if you frequently use your Ford F-150 for towing or long-distance travel, buying gives you the freedom to drive without restrictions.
- Customization freedom: You can modify the truck however you like, whether it’s adding off-road tires or upgrading the bed liner. For instance, if you want to add a custom lift kit or a toolbox to your Ford F-150, buying allows you to make those changes.
- Long-term savings: While the upfront costs are higher, buying is often cheaper than leasing over time, especially if you keep the truck for a decade or more. For example, if you plan to drive your Ford F-150 for 12 years, buying will save you money compared to leasing multiple vehicles over the same period.
Cons:
- Higher monthly payments: Loan payments are usually higher than lease payments, which can be a challenge if you’re on a tight budget. For instance, if you’re just starting out in your career, the higher payments for buying a Ford F-150 might strain your finances.
- Depreciation: The truck’s value decreases over time, so if you plan to sell it later, you may not recoup much of your investment. For example, if you buy a Ford F-150 and sell it after five years, its resale value will likely be much lower than what you paid.
- Maintenance costs: Once the warranty expires, you’re responsible for all repair costs, which can add up as the truck ages. For instance, if you own a Ford F-150 for seven years, you might face significant repair bills as it gets older.
- Long-term commitment: Selling or trading in the truck can take time and effort if your needs change, such as needing a larger vehicle for a growing family. For example, if you buy a Ford F-150 and later need a different configuration, you’ll have to go through the process of selling or trading it in.
Here are some insurance discounts that could apply to you:
Bundling policies
Bundling your auto and home insurance—or combining other policies like tenant or condo insurance—can significantly reduce your premiums. Insurance companies appreciate customer loyalty and often reward it with discounts. Savings can reach up to 20% or more. By taking advantage of this, you not only simplify your insurance management but also save a chunk of change.
Multi-vehicle discount
If your household has more than one car, insuring them under the same policy can lead to big savings. This is because insurers offer discounts (up to 15%) for placing multiple vehicles together under one account. It’s an easy win for families or households with multiple drivers, as it combines coverage while cutting costs.
Loyalty discounts
Insurance companies love loyal customers, and they often show it by reducing premiums for those who stick with them year after year. The longer you stay, the more you save—it can range from 5% after one year to as much as 10% for a decade of loyalty. If you’re happy with your insurer and their service, this discount is an excellent perk.
Higher deductibles
Choosing a higher deductible (the amount you pay out of pocket in a claim) can reduce your annual premiums by 5-10%. While the trade-off means you’d pay more in case of an accident, it’s a smart option for drivers who are confident in their safe-driving habits and want lower upfront costs.
Paying annually
Paying your entire premium in one annual payment instead of monthly installments can save you money by avoiding administrative or installment fees. While it requires a larger payment upfront, it’s a simple way to cut down on overall costs.
Telematics programs
Telematics are devices which can be added to you car or through a mobile app, which monitor your driving habits, such as speed, braking and mileage, rewarding safe drivers with lower premiums. They offer benefits like fairer rates for low-mileage drivers, personalized discounts and improved driving awareness. To maximize savings, you should focus on consistent safe driving, reduce high-risk night trips and choose a telematics program that best fits your needs.
Winter tires
Installing winter tires is not only smart for safely navigating Canada’s icy roads, but it can also reduce your premiums by 2%-5%. Some provinces, like Ontario, even require insurers to offer this discount. If you regularly switch to winter tires, make sure your insurer knows about it.
Anti-theft devices
Vehicles with anti-theft systems, like alarms or tracking devices, are less likely to be stolen, and insurers recognize this by offering discounts up to 15%. If your car doesn’t come with built-in anti-theft features, consider installing an aftermarket system to take advantage of this savings opportunity.
Protecting your F-150 with Ford Credit
To complement your car insurance, you can also enroll in Ford Credit, service Ford provides to further protect your F-150 vehicle. Here’s a quick breakdown of what Ford has to offer:
Ford Protect Extended Warranty Plans
With Ford Protect Extended Service Plans, you from unexpected repair bills once your new car warranty expires. The program covers major engine components, in addition to gaskets, seals and internal engine parts. There are four tiers: PremiumCARE, ExtraCARE, BaseCARE and PowertrainCARE. The tiers differ mostly by the number of components covered, but there are other unique perks as well.
Debt Waiver
Debt Waiver works similarly to gap insurance, in that it covers the difference between your insurance payoff and finance balance. It comes in handy when your insurance company can’t fully cover you in the event your Ford vehicle gets either stolen (and not recovered) or declared a total loss.
WearCare®
WearCare® offers protection against unexpected excess wear and tear and use charges for leased Ford vehicles. This includes damage like unexpected chips, dings and scratches caused by regular driving.
WearCare® Plus
WearCare® Plus allows you get repairs done on your Ford vehicle throughout its lease. The coverage waives certain repair and replacement expenses up to a maximum of $2,500 during the term of your lease and up to $5,000 at the end of your lease.
