Cheap 2001 Ford F-150 Insurance Cost

People not familiar with comparing rates online will find buying the lowest-priced insurance is more work than they anticipated.

Smart consumers take time to take a look at other company’s rates every six months because insurance rates are usually higher with each renewal. Despite the fact that you may have had the lowest price for F-150 coverage two years ago there is a good chance you can find better rates now. Ignore everything you know about insurance because you’re about to learn the best way to find the best coverage while lowering your premiums.

Are you getting all your discounts?

Companies that sell car insurance do not advertise all their discounts very clearly, so the following is a list of both the well known and the more hidden car insurance savings.

  • One Accident Forgiven – A few companies allow you one accident before raising your premiums if your claims history is clear for a set time period.
  • Senior Citizens – If you’re over the age of 55, you may be able to get better car insurance rates for F-150 coverage.
  • Defensive Driver – Completing a course in driver safety could save 5% or more and easily recoup the cost of the course.
  • Anti-lock Brake Discount – Vehicles with anti-lock braking systems prevent accidents and will save you 10% or more.
  • Bundle and Save – If you insure your home and vehicles with the same company you could get a discount of 10% to 20% off each policy.
  • No Accidents – Claim-free drivers pay less compared to accident-prone drivers.

A little note about advertised discounts, most discounts do not apply to the entire cost. The majority will only reduce individual premiums such as liability, collision or medical payments. So when the math indicates you can get free auto insurance, you won’t be that lucky.

A partial list of companies that possibly offer these discounts include:

Double check with each insurance company what discounts are available to you. All car insurance discounts may not be available in your state.

Why your Ford F-150 might be costing you more

Smart consumers have a good feel for the rating factors that play a part in calculating the price you pay for car insurance. Knowing what influences your rates enables informed choices that could result in big savings.

Shown below are a partial list of the pieces car insurance companies consider when setting premiums.

  • Don’t sacrifice liability coverage – Liability coverage will protect you if ever a jury decides you are liable for personal injury or accident damage. Liability insurance provides for a legal defense starting from day one. This coverage is very inexpensive when compared with rates for comp and collision, so drivers should carry high limits.
  • Women pay lower rates – Statistics have proven that women are safer drivers than men. Now that doesn’t mean women are better drivers. They both are in accidents at a similar rate, but the males tend to have more serious accidents. They also receive more costly citations such as reckless driving.
  • Lower rates with optional equipment – Choosing a vehicle with anti-theft technology or alarm system can help bring down rates. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart your vehicle from being stolen.
  • How’s your driving record? – Drivers who don’t get tickets tend to pay less for car insurance than bad drivers. Just one ticket can bump up the cost by as much as thirty percent. Drivers who have serious citations such as DUI or reckless driving may need to file a SR-22 with their state motor vehicle department in order to continue driving.
  • Too many car insurance claims drive up costs – Insurance companies generally give discounts to policyholders who do not rely on their insurance for small claims. If you are a frequent claim filer, you can look forward to either a policy non-renewal or much higher rates. Car insurance is intended to be relied upon for larger claims.

Tailor your coverage to you

When it comes to choosing the best insurance coverage coverage for your personal vehicles, there is no perfect coverage plan. Every insured’s situation is different.

For example, these questions could help you determine if you might need an agent’s assistance.

  • What is high-risk coverage and where do I buy it?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Am I covered if I wreck a rental car?
  • I have a DUI can I still get coverage?
  • How can I force my company to pay a claim?
  • Can my teen driver be rated on a liability-only vehicle?

If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you don’t have a local agent, simply complete this short form.

Can you really save that much by switching?

Companies like Progressive, Geico, Allstate and State Farm constantly bombard you with television and radio advertisements. All the ads make an identical promise that you can save if you switch to them. How do they all make almost identical claims?

Insurance companies are able to cherry pick for the type of driver that is profitable for them. A good example of a profitable customer could possibly be over the age of 50, has no driving citations, and has excellent credit. A driver who meets those qualifications is entitled to the best price and is almost guaranteed to save quite a bit of money when switching.

Consumers who fall outside these standards must pay more money which leads to the driver buying from a lower-cost company. The ads state “customers that switch” not “everyone that quotes” save that much. That is how insurance companies can make those claims. This illustrates why drivers must get quotes from several different companies. It’s just too difficult to predict which insurance companies will give you the biggest savings on Ford F-150 insurance.

What insurance coverages do you need?

Understanding the coverages of a insurance policy aids in choosing the right coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Collision coverages – Collision coverage covers damage to your F-150 from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as colliding with another moving vehicle, driving through your garage door and crashing into a ditch. This coverage can be expensive, so consider dropping it from older vehicles. Another option is to bump up the deductible to bring the cost down.

Comprehensive insurance – Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like damage from flooding, vandalism, hitting a bird, hitting a deer and a tree branch falling on your vehicle. The maximum payout your insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Uninsured/Underinsured Motorist (UM/UIM) – This gives you protection from other drivers when they do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your 2001 Ford F-150.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage kick in for immediate expenses such as prosthetic devices, funeral costs, ambulance fees, hospital visits and surgery. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. It covers all vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available but can be used in place of medical payments coverage

Liability insurance – Liability insurance provides protection from damage that occurs to people or other property that is your fault. It protects YOU against other people’s claims, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000.

Liability coverage protects against things like medical expenses, loss of income, court costs and repair costs for stationary objects. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

In Summary

In this article, we presented many tips how you can lower your 2001 Ford F-150 insurance rates. The key thing to remember is the more times you quote, the higher your chance of finding lower rates. You may be surprised to find that the biggest savings come from a small mutual company.

The cheapest insurance is available online in addition to many insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. A few companies do not provide online price quotes and these regional insurance providers work with independent agents.

When buying insurance coverage, it’s very important that you do not skimp on coverage in order to save money. There have been many cases where an accident victim reduced full coverage only to regret they didn’t have enough coverage. Your strategy should be to purchase plenty of coverage at a price you can afford while still protecting your assets.

Additional car insurance information can be read on the following sites: