2003 Ford F-150 Insurance Rates
Average insurance rates for a 2003 Ford F-150 are $940 a year for full coverage. Comprehensive costs on average $154, collision insurance costs $160, and liability coverage costs around $468. Buying a liability-only policy costs as low as $518 a year, and high-risk insurance costs around $2,014. Teenage drivers receive the highest rates at up to $3,828 a year.
Annual premium for full coverage: $940
Rate estimates for 2003 Ford F-150 Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2003 Ford F-150 models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For a middle-aged driver, prices range range from as low as $518 for only liability insurance to a much higher rate of $2,014 for a high risk driver.
These differences show why anyone shopping for car insurance should compare prices based on a specific location and risk profile, rather than using average rates.
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Recommended Companies for Cheap 2003 Ford F-150 Insurance
Trying to find better car insurance rates? Buyers have many options when searching for the lowest priced Ford F-150 insurance. You can either waste hours struggling with agents getting price quotes or utilize the internet to get rate quotes.
There is a better way to buy car insurance so we’re going to tell you the best way to get price quotes for a Ford and obtain the cheapest rates from local insurance agents and online providers.
Don’t overlook these discounts
The price of auto insurance can be rather high, but companies offer discounts that can drop the cost substantially. Certain discounts will be triggered automatically when you get a quote, but some must be asked about before they will apply. If they aren’t giving you every credit possible, you are paying more than you should be.
- Multi-policy Discount – If you insure your home and vehicles with one insurance company you may save up to 20% off your total premium.
- Seat Belts Save – Requiring all passengers to use their safety belts can save 10% or more off your PIP or medical payments premium.
- Low Mileage Discounts – Low mileage vehicles could qualify for better rates on cars that stay parked.
- Lower Rates for Military – Having a family member in the military could mean lower rates.
- Save over 55 – If you’re over the age of 55, you may qualify for better insurance coverage rates on F-150 coverage.
- Student in College – Youth drivers who live away from home and do not have access to a covered vehicle can be insured at a reduced rate.
- Defensive Driving Course – Taking a course in driver safety could save 5% or more if you qualify.
A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. Most only apply to individual premiums such as collision or personal injury protection. So when it seems like adding up those discounts means a free policy, it just doesn’t work that way. Any amount of discount will cut the cost of coverage.
Recommended Companies for the Best Insurance Rates
A partial list of companies that may have these money-saving discounts include:
It’s a good idea to ask all companies you are considering what discounts are available to you. All car insurance discounts might not be offered everywhere.
Cheap Car Insurance Comparisons
Lowering your 2003 Ford F-150 car insurance rates doesn’t have to be difficult. Just invest a little time comparing rates from different insurance companies. This can be accomplished in a couple of different ways.
- Probably the best way to get the best comparison quotes is a comparison rater form like this one (opens in new window). This easy form saves time by eliminating repetitive form submissions for every car insurance company. One form gets rate comparisons from car insurance companies with the best prices. It’s the fastest way to compare.
- A more difficult way to analyze rates consists of going to the website for every company you want to comare to complete their respective quote request forms. For sake of this example, let’s say you want rates from Auto-Owners, Esurance and GEICO. To find out each rate you need to take the time to go to each site and enter your policy data, and that’s why the first method is more popular. For a handy list of car insurance company links in your area, click here.
- The least recommended way to compare rates is to spend time driving to local insurance agencies. The ability to buy insurance online makes this process obsolete unless you have a need for the personal advice that only a license agent can provide. It is possible to compare the best prices online but still have the advice of a local agent.
Whichever method you choose, ensure you are comparing identical information with every price quote. If each company quotes unequal deductibles or liability limits then you won’t be able to truly determine the lowest rate.
Pieces of the Ford F-150 insurance rate puzzle
An important part of buying insurance is that you know the different types of things that come into play when calculating your insurance rates. Knowing what controls the rates you pay enables informed choices that can help you get lower insurance prices.
The list below includes some of the items insurance companies consider when setting your rates.
- Multi-policy discounts can save money – Most insurance companies provide better rates to customers who buy several policies from them. It’s known as a multi-policy discount. Discounts can be 10 percent or more. Even if you’re getting this discount it’s in your best interest to shop around to verify if the discount is saving money.
- Don’t get talked into coverage you don’t need – There are quite a few add-on coverages that can waste your money on your 2003 F-150 policy. Insurance for rental car reimbursement, accident forgiveness and motor club memberships may be wasting your money. They may seem like a good idea when talking to your agent, but if you don’t need them eliminate the coverages to reduce your premium.
- Lower rates come with age – Teen drivers are known to be more careless when behind the wheel so they pay higher insurance rates. Older insureds are viewed as being more responsible, statistically cause fewer accidents and tend to be better behind the wheel.
- Better crash test results mean better rates – Cars with high safety ratings can get you lower premiums. These vehicles reduce injuries and any reduction in injury severity translates into fewer and smaller insurance claims passed on to you as lower rates. If your Ford F-150 earned at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it may be receiving lower rates.
- Frequent insurance claims increase rates – If you are a frequent claim filer, you can expect either a policy non-renewal or much higher rates. Insurance companies generally give better rates to people who are claim-free. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
- Where you live – Being located in a rural area has it’s advantages when insuring your vehicles. Fewer people means a lower chance of having an accident and also fewer theft and vandalism claims. Drivers who live in large cities regularly have congested traffic and longer commutes to work. Higher commute times translates into higher accident risk.
- Where do you drive? – The more you drive in a year the more you’ll pay to insure your vehicle. Almost all companies price each vehicle’s coverage determined by how the vehicle is used. Cars left parked in the garage qualify for better rates than those used for commuting. Make sure your insurance policy is showing the correct driver usage. Incorrect usage on your F-150 can cost quite a bit.
- Do you know your deductibles? – Physical damage deductibles define the amount you are required to spend before your insurance pays a claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. A few examples of covered claims are running into the backend of another car, damage caused by hail, and rolling your vehicle. The more money you have to pay, the bigger discount you will receive on F-150 coverage.
Is my situation unique?
When buying the best insurance coverage coverage for your vehicles, there isn’t really a best way to insure your cars. Coverage needs to be tailored to your specific needs.
These are some specific questions might help in determining whether you will benefit from professional help.
- Do I have coverage when pulling a U-Haul trailer?
- Do I have coverage if my license is suspended?
- When would I need rental car insurance?
- Which companies will insure high-risk drivers?
- Do I have coverage when making deliveries for my home business?
- What if I don’t agree with a claim settlement offer?
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form. It only takes a few minutes and can provide invaluable advice.
Detailed coverages of your insurance policy
Understanding the coverages of a insurance policy helps when choosing the best coverages for your vehicles. Policy terminology can be confusing and coverage can change by endorsement.
Collision insurance will pay to fix damage to your F-150 resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as hitting a mailbox, scraping a guard rail, colliding with a tree and backing into a parked car. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. Another option is to raise the deductible to save money on collision insurance.
Medical payments and PIP coverage
Med pay and PIP coverage provide coverage for immediate expenses such as surgery, ambulance fees and nursing services. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants as well as if you are hit as a while walking down the street. PIP is not universally available and may carry a deductible
Liability car insurance
Liability insurance can cover damage that occurs to other people or property. It protects you from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Alternatively, you may have a combined limit which provides one coverage limit without having the split limit caps.
Liability can pay for things like attorney fees, funeral expenses, court costs, medical expenses and medical services. The amount of liability coverage you purchase is up to you, but buy higher limits if possible.
Comprehensive auto coverage
This coverage covers damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims such as damage from getting keyed, hitting a deer, damage from flooding and fire damage. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Most of the time these coverages are identical to your policy’s liability coverage.
Don’t be a big spender
We just covered many tips how you can lower your 2003 Ford F-150 insurance rates. The key thing to remember is the more companies you get rates for, the better chance you’ll have of finding lower rates. You may even find the lowest priced insurance comes from the smaller companies.
While you’re price shopping online, do not buy poor coverage just to save money. There are many occasions where drivers have reduced liability coverage limits and discovered at claim time that it was a big mistake. The ultimate goal is to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.
Drivers who switch companies do it for a number of reasons such as policy non-renewal, unfair underwriting practices, an unsatisfactory settlement offer or even lack of trust in their agent. It doesn’t matter why you want to switch switching insurance companies can be pretty painless.
Additional detailed information can be read in these articles:
- Child Safety FAQ (iihs.org)
- A Tree Fell on Your Car: Now What? (Allstate)
- Parking Tips to Reduce Door Dings (State Farm)
- Vehicle Insurance in the U.S. (Wikipedia)
- Understanding Your Insurance Deductible (Insurance Information Insitute)
Find the Cheapest Quotes in Your Area
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Rates by U.S. City
|New York City, NY||$1,488|
|Los Angeles, CA||$1,608|
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Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$54|
|5-yr Claim Free||$58|
|Paid in Full/EFT||$31|
Discounts are estimated and may not be available from every company or in every state.