Cheapest 2003 Ford Explorer Insurance Rates in 2023
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UPDATED: Aug 23, 2022
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No one in their right mind cherishes buying insurance coverage, particularly when they are paying too much. With consumers having so many different company options, it can be challenging to choose the right car insurance company.
Ford Explorer insurance rates are influenced by…
Consumers need to have an understanding of the rating factors that go into determining the price you pay for auto insurance. Knowing what determines base rates allows you to make educated decisions that could result in big savings.
- Multiple policies with one company can save – Some auto insurance companies provide better rates to insureds who have multiple policies with them. It’s known as a multi-policy discount. This can amount to ten or even up to twenty percent in some cases. Even if you’re getting this discount you may still want to compare rates to make sure you are getting the best deal. Drivers may still find a better deal by insuring with multiple companies.
- Extra add-on coverages are wasting money – There are a ton of extra coverages that you can get tricked into buying on your Explorer policy. Insurance for personal injury protection, accidental death and motor club memberships may be wasting your money. These may sound like a good investment initially, but if you don’t need them eliminate the coverages to reduce your premium.
- Liability coverage protects you – Your policy’s liability coverage is the coverage that protects you if you are found liable for causing damage or personal injury in an accident. It will provide you with a defense in court which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so do not skimp.
- Equipment add-ons that lower auto insurance rates – Choosing a vehicle that has an advanced theft prevention system can help bring down rates. Anti-theft devices such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart your car from being stolen.
How to Get Insurance Comparison Quotes
Reducing your 2003 Ford Explorer insurance rates is surprisingly easy. Just take a few minutes comparing price quotes online with multiple companies. It is quite easy and can be accomplished using a couple different methods.
The fastest way to get quotes for comparison would be an industry-wide quote request form click here to open form in new window. This type of form saves time by eliminating separate forms for every insurance company. One form submission gets you coverage quotes from insurance companies with the best prices.
A more difficult way to compare rate quotes is spending the time to visit each company’s website and fill out their own quote form. For examples sake, we’ll assume you want to compare GEICO, State Farm and American Family. To get each rate you have to go to every website to enter your coverage information, which is why most consumers use the first method. For a list of links to insurance companies in your area, click here.
The least recommended method to get comparison rates is to spend your day driving to different agent offices. Buying insurance online eliminates the need for an insurance agent unless you require the professional advice of a local agent. Drivers can comparison shop online but still have the advice of a local agent and you’ll learn how to do that later.
Which method you use is up to you, but make sure you use identical coverages and limits for each price quote. If you use different deductibles then you won’t be able to make a fair comparison for your Ford Explorer.
Lower rates by qualifying for discounts
Insuring your vehicles can cost a lot, buy you may qualify for discounts to cut the cost considerably. Most are applied when you purchase, but some may not be applied and must be asked about before you get the savings. If you’re not getting every credit possible, you are throwing money away.
- Drive Less and Save – Driving fewer miles can qualify you for lower rates on the low mileage vehicles.
- Anti-theft Discount – Anti-theft and alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
- Sign Early and Save – Some companies give discounts for switching to them before your current policy expires. It can save you around 10%.
- Bundle and Save – If you have multiple policies with one insurance company you will save 10% to 20% off each policy.
- Multiple Cars – Buying coverage for all your vehicles on one policy may reduce the rate for each vehicle.
- Employee of Federal Government – Employees or retirees of the government can save as much as 8% for Explorer insurance depending on your company.
- Safe Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates for Explorer insurance than less cautious drivers.
It’s important to note that most of the big mark downs will not be given to all coverage premiums. Most only cut the cost of specific coverages such as liability and collision coverage. So even though they make it sound like having all the discounts means you get insurance for free, companies don’t profit that way. Any qualifying discounts will bring down the amount you have to pay.
A partial list of companies that may offer some of the above discounts are:
- Farmers Insurance
- Farm Bureau
- State Farm
- Liberty Mutual
Before buying, ask every prospective company which discounts they offer. Savings may not be available in your state.
Car insurance is unique, just like you
When it comes to choosing coverage for your vehicles, there is no cookie cutter policy. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. These are some specific questions might help in determining whether or not you may require specific advice.
- Do I really need UM/UIM coverage?
- What are the financial responsibility laws in my state?
- Do I need medical payments coverage since I have good health insurance?
- If my 2003 Ford Explorer is totaled, can I afford another vehicle?
- Should I get collision insurance on every vehicle?
- Will my rates increase for filing one claim?
- What exactly is covered by my policy?
- What vehicles should carry emergency assistance coverage?
- How do I file an SR-22 for a DUI in my state?
If you can’t answer these questions, you may need to chat with an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of car insurance companies in your area. It only takes a few minutes and you can get the answers you need.
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Insurance coverage considerations
Understanding the coverages of your insurance policy aids in choosing appropriate coverage and proper limits and deductibles. Policy terminology can be confusing and coverage can change by endorsement. Listed below are the normal coverages offered by insurance companies.
Comprehensive (Other than Collision) – Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things such as hail damage, rock chips in glass and theft. The most you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Medical expense insurance – Med pay and PIP coverage kick in for short-term medical expenses for things like ambulance fees, pain medications, X-ray expenses, dental work and hospital visits. They can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not available in all states and may carry a deductible
Auto liability – Liability insurance can cover damages or injuries you inflict on other’s property or people. It protects YOU against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 which means a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Some companies may use a combined limit which limits claims to one amount and claims can be made without the split limit restrictions.
Liability coverage pays for things such as court costs, funeral expenses and medical expenses. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.
Collision – Collision coverage will pay to fix damage to your Explorer from colliding with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision insurance covers things such as crashing into a ditch, sideswiping another vehicle, crashing into a building and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from vehicles that are older. You can also increase the deductible to bring the cost down.
Protection from uninsured/underinsured drivers – Your UM/UIM coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your Ford Explorer.
Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these limits are similar to your liability insurance amounts.
Better coverage you can count on
When buying insurance coverage, don’t be tempted to reduce coverage to reduce premium. There have been many cases where an insured cut liability limits or collision coverage only to regret they didn’t purchase enough coverage. Your goal should be to buy the best coverage you can find at an affordable rate while not skimping on critical coverages.
You just learned quite a bit of information on how to save on 2003 Ford Explorer insurance. It’s most important to understand that the more quotes you get, the better chance you’ll have of finding lower rates. Consumers may even find the most savings is with some of the lesser-known companies. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as Allstate and Progressive.
Cheaper insurance can be purchased online in addition to many insurance agents, and you need to price shop both so you have a total pricing picture. Some insurance coverage companies do not provide online price quotes and most of the time these small insurance companies sell through independent agents.
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Insitute)
- Shopping for a Safe Car (Insurance Information Insitute)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Safety Features for Your New Car (State Farm)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Insitute)
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