A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products, including home, life, auto, and commercial, and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, mainly in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers Insurance CSR 4 Years

UPDATED: Oct 27, 2021

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Sometimes, premium prices for auto insurance can feel like a gamble. You never quite know what to expect or how prices are put together. Most of the time, your premiums will even vary drastically from company to company. Despite all of the factors that impact auto coverage, there is one you can control: the vehicle you drive!

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The type of vehicle you drive is one of many factors that dictate insurance prices. It also happens to be the easiest to understand and control. For a new Ford Explorer, there are specific ways you can help predict the price of coverage.

What are some characteristics and considerations of the Ford Explorer?

Before you consider how much insurance would cost for your Ford Explorer, you need to understand that the insurance industry is ever-changing and in constant competition for your money. That means prices will vary from company to company and there rarely is consistency. Understanding this fundamental fact will ultimately help you make more confident insurance decisions.

In addition, your personal driving history and other attributes will also vary your premium, so just because a Ford Explorer has an expected cost for insurance does not mean that price will be your price. Most likely, it will give you an accurate average price range, but it may not be the actual rates of costs for insurance. Age is another factor, for example: teen drivers in general will pay more for their auto insurance than 30-year old drivers or senior drivers. Credit score ranges will also affect your premiums.

With that in mind, there are a few traits and characteristics that every car will have which help dictate insurance costs. Below are several common considerations about the Ford Explorer that are important to know.

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How does the engine size and horsepower of a Ford Explorer impact car insurance premiums?

Insurance companies determine premium prices based on calculated risk. If a company views a driver or a vehicle as potentially dangerous, the insurance premium will increase. An insurance provider does not want a lot of claims filed on a policy that is inexpensive for the insured. That places all of the financial responsibility on the company, which they do not want.

One of the ways an insurance company will determine the risk factor for a vehicle is the engine size and horsepower capability.

The 2012 Ford Explorer base model comes equipped with a very capable 3.5-liter V-6 engine, capable of producing 290 horsepower. The insurance translation is that it has a larger engine and is quite powerful.

Because of engine size and horsepower capability, the Ford Explorer will already be deemed a bit riskier than a minivan, so it may not be the cheapest option. But you should absolutely not let that stand in your way of purchasing the vehicle you want. Engine size will always mean a bit higher insurance costs than other vehicle models.

There is an option on the 2012 Explorer model to equip the vehicle with a turbocharged EcoBoost 2 liter V-4 engine, capable of 240 horsepower. It gets far better fuel economy than the typical V-6 engine, but it will not make too much of a difference with insurance costs.

How do safety and crash-test ratings contribute to the cost of Ford Explorer insurance?

Another factor that largely contributes to insurance companies marking vehicles as risky is how well they perform in government crash-tests. Obtaining crash test verification is one of the smartest things an auto insurer can do. The Insurance Institute for Highway Safety is one agency that consistently delivers crash-test results and insurance companies constantly use them. For the 2012 Ford Explorer model, it not only scored a “Good” rating, the highest given by the agency, but it was also a 2012 Top Safety Pick.

Receiving a Top Safety Pick rating, along with solid crash-test scores, make the Ford Explorer an incredibly safe SUV to both drive and insure. Despite the larger engine, the safety ratings for the Explorer and that includes any type in the lineup, will always be viewed as a very safe car. That means the big engine is compensated with awesome safety ratings. Put those two together and that means lower insurance prices for Ford Explorer owners.

Another contributing factor to insurance costs is whether your vehicle is likely to be stolen. Anti-theft devices are a great deterrent for theft and in some cases can lower your insurance costs. You may even qualify for certain discounts.

Some vehicles have been tracked as having a higher likelihood to be stolen, which will result in higher insurance costs. The Ford Explorer, according to the Highway Loss Data Institute, thankfully is not on the frequently stolen list.

However, older Ford Explorer models have begun appearing on some frequently stolen lists, as many auto thieves are stealing older vehicles for parts. On the average, older vehicles usually cost less to insure. But because old Explorers are on the theft list, you may see a spike in insurance costs on the average. Check with your provider before making a purchase, just to be sure.

How does MSRP affect base prices?

Another attribute for vehicles that drastically influence insurance costs is market value. Many drivers do not realize just how much market value affects insurance prices. If a vehicle is an extremely high market value, it will probably cost the insurance company more to fix. More importantly, if the vehicle is totaled in an accident, it will cost the insurance company a small fortune to replace the vehicle.

Basically, the more expensive the vehicle is the pricier it is to insure.

The 2012 Ford Explorer base model is listed at around $30,000. Because the Explorer is not an overly expensive SUV, and it is domestically made, it usually benefits from lower insurance costs. According to Automobile Magazine, even the Limited Edition Explorer only tops the MSRP at just under $40,000.

Another contributing factor to the Explorers ability to stay cheaper on the insurance front is that it is made domestically. If a vehicle needs a specific part for a repair, the insurance company wants to know how hard it will be to find the part and how much it will cost. For exotic vehicles or rarer vehicles, parts can get quite pricey. The Explorer does not have that problem, which means cheaper insurance on the average.

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How does popularity factor into the price of a vehicle?

One last contributing factor to insurance prices for vehicles is the popularity of the vehicle. Because the insurance industry has become so competitive, vehicles that are driven by a vast majority of people will usually receive lower insurance prices. Insurance companies want to get the biggest piece of the pie when it comes to a popular model. This is good news for those seeking Ford Explorer car insurance.

The Ford Explorer, back in the early 90s, was an incredibly popular SUV. In fact, the Explorer is usually attributed with starting the SUV craze in the United States! However, the current model has not received the best consumer reviews.

According to J.D. Power and Associates, the 2012 Ford Explorer received moderate to low consumer reviews. It does rate relatively well compared to other models, but it is not nearly as popular as it once was. Because of this, the insurance prices for an Explorer will not get the benefit of a vehicle driven by more people.

What is the average rate of auto insurance prices for a Ford Explorer?

With all of the above information and understanding that insurance costs vary greatly from person to person, the average insurance costs for a 2012 Ford Explorer is around $1,200 to $1,500 annually. Of course, this is assuming a clean driving record and a relatively risk-free age bracket. One the average, the Explorer prices for insurance is about the same for SUVs with a similar build. If you have a clean record and manage to snag a few discounts, you could get the annual price down to around $1000, which makes for around a $90 monthly payment.

Naturally, these averages will change depending on your current situation, as well as a few other considerations. For example, if you happen to add a bunch of features to a new Ford Explorer model, that would increase the base price of the vehicle. In return, the vehicle would become costlier to insure. In addition, you may also vary the engine size and type, which could also impact insurance costs. Even between the same models, certain features can change the average cost of insurance.

Are there any other factors to consider so when it comes to Ford Explorer insurance cost?

The average cost to insure a Ford Explorer is pretty good considering most SUVs, but that should not be your last thought before making a vehicle purchase. The car you drive does impact insurance costs, but at its most basic levels, insurance companies are insuring you as a driver!

That means factors like your driving history is even more important than the car you drive. If you have a record littered with tickets and accidents, it does not matter what car you drive. Your insurance prices will be extremely high. Also, if you happen to fall within a certain age bracket, you could also see drastically higher insurance costs.

Young men between the ages of 15 and 26 typically have the highest rates. That means your gender will also be a consideration for insurance companies. Sadly, you cannot really help that, but it is important to know so that a higher rate than the average does not shock you.

Finally, where you live is an important consideration, as well as how much you drive. Every insurance company uses zip codes to determine possible risk. If you happen to live in a major city with high crime rates and high auto-theft rates, you will always pay more for insurance than the average. It may not be fair, but it is true.

How many miles you put on your vehicle annually also plays into the price of your insurance.

If you are on the road a lot, an insurance company will view you as a higher risk for an accident, which would mean more costs for them. To compensate, insurance companies will drive up your premium.

All of these considerations and factors are important. Even though the Ford Explorer is traditionally an inexpensive SUV to insure, you may not fall within the typical category. If you are looking to save money with your auto insurance provider, consider asking if there are any auto insurance discounts. Sometimes companies will reward responsible drivers.

Auto insurance can be a hassle, even with a solid vehicle like a Ford Explorer. Be diligent and do your research so that you are not disappointed or taken advantage of. For further information about the basics of auto insurance, you should check out the Insurance Information Institute.

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