With so many different types of models on the market, “how much is insurance for a Ford?” is a tough question to answer. To determine rates, insurance companies look at a range of variables to gauge how likely an applicant is to make a claim.
What can drive up car insurance rates for Fords? Vehicle type and model are two variables that are closely considered, along with safety rating and the vehicle’s safety features.
Canadian insurance companies rely on the Claims Loss Experience Automobile Rating system to measure how likely various vehicles are to be involved in a claim and what that claim is projected to cost.
Incidents that initiate a claim include collisions, injury and theft.
While Ford vehicles are widely considered safe, they’re overrepresented for another variable that can lead to higher insurance premiums: theft. According to the Insurance Bureau of Canada (IBC), in every year since at least 2013, Ford cars have been named on the Top 10 Most Stolen Vehicles list. For 2020, the Ford F-150 was reported as the fifth most stolen vehicle.
IBC estimates that each year, insurance carriers spend more than $540 million fixing or replacing stolen cars. In one way or another, these costs are passed on to the consumer.
If you’re looking for the best insurance rates for a Ford, start with a quote. LowestRates.ca will help you find an insurance policy for your Ford that meets your needs, for free.
To give you a general sense of the average insurance cost for a Ford, some estimated premiums are below.