Finding the cheapest insurance for a Ford Explorer can be pretty simple, but it is dependent upon a pretty complex algorithm that uses a lot of factors such as miles driven annually, whether or not you garage your vehicle, and any prior driving offenses you have. Drivers will pay on average $1,131 each year for Explorer insurance, but that amount is using a 40-year-old single male driver with full comprehensive and collision coverage and $100 deductibles.
But there is a high probability that you are not 40 years old and maybe not even male, possibly married instead of single, or you just prefer to insure for liability only. Just a minor difference in rating criteria or coverage limits can result in a large change in the policy rate.
Having different needs demonstrates why the best way to find the cheapest insurance price for your Ford is to just compare rates yourself.
The specific model of Explorer will likely have an effect on the cost of insurance, so the price you will be charged to insure a Explorer XLT 2WD model will be $130 less than the cost to insure the higher-priced Explorer Limited AWD model, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Explorer XLT 2WD||$252||$440||$362||$22||$108||$1,184||$99|
|Explorer Eddie Bauer 2WD||$252||$440||$362||$22||$108||$1,184||$99|
|Explorer XLT 4WD||$252||$440||$362||$22||$108||$1,184||$99|
|Explorer XLT AWD||$252||$440||$362||$22||$108||$1,184||$99|
|Explorer Eddie Bauer 4WD||$286||$536||$362||$22||$108||$1,314||$110|
|Explorer Eddie Bauer AWD||$286||$536||$362||$22||$108||$1,314||$110|
|Explorer Limited 2WD||$286||$536||$362||$22||$108||$1,314||$110|
|Explorer Limited 4WD||$286||$536||$362||$22||$108||$1,314||$110|
|Explorer Limited AWD||$286||$536||$362||$22||$108||$1,314||$110|
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Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Nebraska minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Rates do not factor in garaging location in Lincoln which can increase or decrease auto insurance rates substantially.
Finding good, cost effective car insurance is difficult, and determining which company offers the lowest-priced car insurance rates for a Ford Explorer may require more quotes for comparison. Every insurance provider uses their own method to establish rates, so let’s begin by taking a look at the most competitive car insurance companies in Lincoln.
It’s important that readers know that Lincoln, NE car insurance rates are influenced by many factors that may substantially change the cost of coverage. This price variability is why Nebraska drivers need to shop around when trying to find the lowest auto insurance rates for a Ford Explorer. Auto insurance prices can be determined by many different factors and can change substantially, so the best company six months ago may now be costing you a lot of money.
Find the Best Cheap Insurance for Your Explorer
|Rank||Company||Cost Per Year|
|5||Farm Bureau Mutual||$990|
|6||Farmers Mutual of Nebraska||$1,019|
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Safeco has some of the lowest car insurance rates in Lincoln at around $788 each year. This is $528 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farm Bureau Mutual also rank well as some of the more affordable Lincoln, NE auto insurance companies.
As the example above demonstrates, if you buy coverage from The Hartford and switched to Safeco, you could see savings of around $59. Nebraska drivers with Auto-Owners might save as much as $135 a year, and Allied insureds might realize rate reductions of up to $161 a year.
Understand that those premiums are averaged across all drivers and vehicles in Nebraska and and are not calculated with a vehicle location for a Ford Explorer. So the insurer that fits your age and vehicle best may not even be in the top 24 companies shown above. That illustrates why you need to quote rates from as many companies as possible using your own individual information.
Get discounts on Lincoln insurance
Insurance providers that offer cheap quotes for a Ford Explorer may provide special discounts that can reduce rates by as much as 30% if you meet specific eligibility requirements. A list of car insurance companies and a selection of discounts are detailed below.
- GEICO may offer discounts for driver training, military active duty, seat belt use, anti-theft, federal employee, air bags, and defensive driver.
- MetLife discounts include defensive driver, claim-free, accident-free, good driver, multi-policy, good student
- Progressive offers premium reductions for multi-vehicle, continuous coverage, multi-policy, online quote discount, and good student.
- Travelers offers discounts including student away at school, driver training, new car, save driver, home ownership, and multi-policy.
- SAFECO includes discounts for drive less, teen safe driver, accident prevention training, safe driver, multi-car, homeowner, and anti-theft.
- AAA may include discounts for multi-policy, pay-in-full, education and occupation, anti-theft, multi-car, AAA membership discount, and good driver.
The information below shows the difference between insurance premiums with and without discounts applied to the policy premium. The rates are based on a female driver, no accidents, no driving violations, Nebraska state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with claim-free, defensive driving course, multiple vehicle, vehicle safety, multiple policy, and passive restraint discounts applied. In this example, the average savings per year on car insurance for a Ford Explorer is 27% or $543.
Full coverage rates vs. liability-only
Lowering the price of car insurance should be important to most drivers, and a great way to find cheaper insurance for a Ford Explorer is to only buy liability insurance. The diagram below shows the comparison of car insurance costs when comparing full coverage to liability only. The data assumes no violations or claims, $500 deductibles, marital status is single, and no additional discounts are factored in.
If averaged out across all ages, physical damage coverage costs an extra $1,706 per year more than just insuring for liability. That amount may make you wonder when is the right time to remove full coverage. There is no definitive rule to stop buying physical damage insurance, but there is a general guideline. If the annual cost of having full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s replacement cost is $10,500 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $9,500 after you pay the deductible. If it’s costing you more than $950 a year for your policy with full coverage, then you might consider buying liability only.
There are some conditions where buying only liability insurance is not advised. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not buy liability only.
Low rates can quickly become overpriced
Lincoln, NE car insurance rates are impacted by many factors which can substantially decrease or increase your annual premium. Improving your credit score, buying another vehicle, or having an at-fault accident can cause premium changes that may make certain companies more affordable than competitors. Not only may your risk profile change, but insurance companies change the rates they charge in Nebraska at least once a year in order to remain profitable. Significantly higher claims can cause increased policy costs, while profitable underwriting may produce more affordable Explorer insurance rates.
For example, the data below shows which company has the cheapest car insurance in Lincoln, NE for a 45-year-old male driver with no prior claims, no tickets, and good credit. When quoting prices based on his current risk factors, Safeco might offer the cheapest car insurance rates in Lincoln at $788 each year. This is $528 less than the average policy premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska are the remainder of the cheapest Lincoln, NE auto insurance companies.
The next chart shows rates after we give the driver in the first chart an at-fault accident, less-than-perfect credit, and an imperfect driving record. Since every insurance provider uses their own method for establishing rates, comparing rates may result in a completely different list of the cheapest Lincoln car insurance companies as shown below.
Nationwide now has the best auto insurance rate in Lincoln, NE with State Farm, American National, General Casualty, and USAA now rounding out the top five. This example proves why it is so important to take the time to shop around when trying to find the most economical insurance rates for a Ford Explorer.
Insurance rates consist of many things and can decrease or increase without notice, so the cheapest option the last time you checked may now be an over-priced policy.
If you have coverage questions and would like to have the advice of a professional agent when shopping for the best coverage for an Explorer, the insurance agencies listed below can most likely aid you in deciding which auto insurance policy fits you best. To find a Lincoln insurance agency closest to you, click the link at the bottom.
AMS Insurance Center
120 S 29th St – Lincoln, NE 68510 – (402) 476-3599
Karen Williams – State Farm Insurance Agent
233 N 48th St o – Lincoln, NE 68504 – (402) 434-6050
Forsyth Insurance Agency
1265 S Cotner Blvd #21 – Lincoln, NE 68510 – (402) 483-7861
How to find budget-friendly auto insurance for a Ford Explorer
The list below summarizes some money-saving solutions that can help Lincoln drivers buy lower-cost auto insurance.
- If possible, pay for small claims out-of-pocket
- Lower rates by purchasing a safer vehicle
- Speeding tickets and other violations increase rates
- Save money by insuring your home and auto with the same company
- Staying accident-free helps keep rates low
- Keep rates low by comparing prices once a year
That last tip is notably significant, as was discussed in this write-up. Coverage rates can change considerably based on profitability, so drivers shouldn’t hesitate to buy a policy from a new company if a better rate can be found. Loyalty to a specific company is fine, but we do not recommend it if that devotion results in you overpaying a considerable chunk of change every month. Now is a great time to compare prices to find cheaper insurance for a Ford Explorer in Lincoln.