Buying economical car insurance for a Ford Explorer hinges on a lot of factors such as whether you are married or single, the likelihood of your vehicle being stolen, and whether or not you are a good driver. Drivers in Michigan will pay around $1,837 a year to insure their Explorer, but that amount is an approximation calculated based on a 40-year-old married female driver with full comprehensive and collision coverage and $500 deductibles.
It’s highly likely you aren’t exactly 40 years old or even a female, you might be single instead of married, or you just want cheap liability insurance instead of full coverage. Even a minor difference in the rating criteria used to formulate rates can make a large difference in the policy cost.
This shows why the best method for finding cheap auto insurance rates for your Ford is to just compare rates yourself. Quotes are free and easy and you will receive prices from some of the best companies that insure vehicles in Michigan.
Your Ford’s trim level tends to have a direct effect on price, so the price you will be charged to insure a Explorer XLT 2WD trim level will be $174 less than the cost to insure the more well-appointed Explorer Limited AWD trim level, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Explorer XLT 2WD||$374||$584||$726||$42||$218||$1,944||$162|
|Explorer Eddie Bauer 2WD||$374||$584||$726||$42||$218||$1,944||$162|
|Explorer XLT 4WD||$374||$584||$726||$42||$218||$1,944||$162|
|Explorer XLT AWD||$374||$584||$726||$42||$218||$1,944||$162|
|Explorer Eddie Bauer 4WD||$422||$710||$726||$42||$218||$2,118||$177|
|Explorer Eddie Bauer AWD||$422||$710||$726||$42||$218||$2,118||$177|
|Explorer Limited 2WD||$422||$710||$726||$42||$218||$2,118||$177|
|Explorer Limited 4WD||$422||$710||$726||$42||$218||$2,118||$177|
|Explorer Limited AWD||$422||$710||$726||$42||$218||$2,118||$177|
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Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Price estimates do not factor in garaging location in Detroit which can decrease or increase price quotes considerably.
Establishing which company has the cheapest insurance rates for a Ford Explorer will take more time than just quoting one company’s rates. Each insurer uses different criteria for setting rates, so let’s take a look at the insurance companies that tend to be cheaper in Detroit, MI.
It’s a good idea to be aware that Detroit insurance rates are determined by lots of factors that may substantially change the price of your policy. Simply having a birthday, buying higher coverage limits, or getting a ticket for careless driving may prompt premium changes that can make some companies cheaper than others.
Find the Cheapest Car Insurance for Your Explorer
USAA may offer some of the best car insurance rates in Detroit at around $987 annually. GEICO, Safeco, MetLife, and Chubb also rank well as some of the more affordable Detroit, MI car insurance companies.
As shown above, if you are a policyholder with GEICO and switched to USAA, you could see savings of roughly $16. Michigan drivers with Safeco might save as much as $92 a year, and MetLife insureds might lower prices by $323 a year.
Be aware that those rates are averaged for all drivers and vehicles in Michigan and do not take into consideration an exact zip code location for a Ford Explorer. So the insurer that fits your needs best may not even be in the list above. That affirms the importance of why you need to get rate quotes using your own individual information.
The example below highlights how deductible selection can impact insurance rates when trying to find cheap insurance for a Ford Explorer. The information is based on a married female driver, comp and collision included, and no discounts are taken into consideration.
A 30-year-old driver could lower their policy premium by $678 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $1,028 by using a $1,000 deductible. Even younger insureds, like the Age 20 category, can save up to $1,454 or more by using a higher deductible. When raising deductibles, it will be important to have additional savings on hand to satisfy the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Can you find cheaper Explorer insurance?
Detroit insurance rates are impacted by many things that can increase the price you pay for coverage. Getting older, having a teenage driver, or getting into an accident can trigger rate changes that can cause some rates to be cheaper than before. Not only may your situation change, but car insurance companies amend pricing as often as every three months to adjust for heavy claims or excess profits. Larger than normal claims can cause price increases, while lower claim expenses can produce cheaper Explorer insurance rates.
To help illustrate this point, the bar chart below shows which companies have the cheapest car insurance in Detroit, MI for a 40-year-old female driver with a clean driving record, no accidents, and a good credit rating. If we compare prices based on her current risk factors, USAA might quote the most affordable car insurance rates in Detroit at $2,233 per year. This is $160 less than the average rate paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and MEEMIC are the rest of the most affordable Detroit, MI auto insurance companies.
In this example, we will give the driver from the first set of rates some claims, less-than-perfect credit, and a blemish on her driving record. Because each company uses their own calculation to determining premium rates, comparing insurance quotes may result in a substantially altered list of affordable companies as shown below.
GEICO now has the best insurance rate in Detroit with Pioneer State Mutual, Safeco, Hastings Mutual, and USAA now being in the top five. This shows why drivers need to compare many different companies when trying to get affordable car insurance rates for a Ford Explorer. Insurance prices are influenced by many risk factors and change dramatically, so the lowest-price company a year ago may now be wasting a lot of money.