Insurance rate for your Lightning vs ICE

[TechTutor]

Now that a few forum members have taken delivery, I’m curious of how the insurance rates compared to your previous ICE vehicles. Some of you were driving an ICE F150 prior.

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[kenfaber62]

2006 Ford F150 STX.............................. $877/yr
2022 Ford Lightning Pro ..................$1534/yr
Full Coverage on both.

FYI: If you have your VIN, your insurance can quote you a premium.... whether you have the truck or not.

 

[Labs4Lightning]

My quote is the 1200 range.
yours doesn’t look out of line - you are going from 2006 to a new 2022 -
I know if I lived in the city it would be 2 to 3 hundred higher

 

[YankeeCP]

I don’t have mine but ran a quote with a vin. Increase $6 per month. Going from 1500 Ram to Lariat lightning

 

[Stlww18]

USAA is telling me it’ll be $40 per month more than my 2016 xlt for my Pro

 

[TechTutor]

Thanks for the replies - I was a little concerned with the buzz around the 4 second 0-60, and 500+ hp stats. Figured insurance would be substantially higher on the Lightning vs an ICE F150.

 

[stimpy]

I just added my Lightning to my policy yesterday for $80 a month. Which is a little more than my previous truck, as expected as it costs more.

 

[sotek2345]

Thanks for the replies - I was a little concerned with the buzz around the 4 second 0-60, and 500+ hp stats. Figured insurance would be substantially higher on the Lightning vs an ICE F150.

It is very insurance company dependent. They are still figuring out how to handle EVs in general.

 

[TechTutor]

It is very insurance company dependent. They are still figuring out how to handle EVs in general.

I know insurance on Tesla vehicles is really high, but they are expensive cars with limited service centers. Was hoping since the Lightning is based on / shares many parts with the ICE F150 the rates would be reasonable. So far, is looking that way.

 

[GDN]

I know insurance on Tesla vehicles is really high, but they are expensive cars with limited service centers. Was hoping since the Lightning is based on / shares many parts with the ICE F150 the rates would be reasonable. So far, is looking that way.

Truly insurance on a Tesla is not that high. For 4 years we had been paying $100/month for a model 3, we have 2 of them on the same policy. $2400 for the year for both. That was with Progressive. Last December they had a rate hike - 30%.

I shopped around and I've now gone back to State Farm. Each car started at $488 for 6 months and I agreed to their driving tracker for a dicount. With a driving score in the low 70's I just received my new policy - one car renewal is $327 and the other is $365, for 6 months. These prices are with just about maximum coverage and $500 deductibles. I truly haven't seen insurance this cheap in probably 10 years.

I called about a month back once I had my VIN and I was told SF was rating the Lighting the same as most other F150's. The rate was going to only be $80 higher than the 3 for a 6 month period.

Insurance is about your location, your driving, your mileage, your credit rating. There are many things that go into it.

 

[Stlww18]

Truly insurance on a Tesla is not that high. For 4 years we had been paying $100/month for a model 3, we have 2 of them on the same policy. $2400 for the year for both. That was with Progressive. Last December they had a rate hike - 30%.

I shopped around and I've now gone back to State Farm. Each car started at $488 for 6 months and I agreed to their driving tracker for a dicount. With a driving score in the low 70's I just received my new policy - one car renewal is $327 and the other is $365, for 6 months. These prices are with just about maximum coverage and $500 deductibles. I truly haven't seen insurance this cheap in probably 10 years.

I called about a month back once I had my VIN and I was told SF was rating the Lighting the same as most other F150's. The rate was going to only be $80 higher than the 3 for a 6 month period.

Insurance is about your location, your driving, your mileage, your credit rating. There are many things that go into it.

Without seeing the underwriting (which they'll never show me) I figure USAA is charging me basically the same rate for for the lightning Pro once you adjust for insurable value vs my 5 year old XLT.

I expect many of the negatives of EV insurance (faster vehicle, more expensive to repair) are offset by the added safety features I get just by moving up a few model years; lane assist, backup sensors, blind spot alerts, etc.

 

[FlasherZ]

While insurance companies have very smart actuaries, the reality is that new car models frequently confuse them and they will center over time. Insuring the Model S when it was brand new was fairly simple, but premiums walked all over the place over the first couple of years. They seemed to start off aligned to "typical" large luxury sedans like BMW 5- and 7-series.

I'm guessing that the rates for F-150 Lightning will start off similar to ICE F-150's until they see trends related to safety, repair, etc. It's the closest comparison that they have right now.

(I need to do the new-insurance-company dance again, as it's been 4 years or so since I changed and my insurance company has gotten comfortable with jacking up my rates indiscriminately, despite a clean record. I have found that insurance companies will continue to do this until you "reset them" by moving to another.)

 

[Rypperman]

Now that a few forum members have taken delivery, I’m curious of how the insurance rates compared to your previous ICE vehicles. Some of you were driving an ICE F150 prior.

My rates for 6 months with 500k coverage and 500 deductible on everything. All coverages are maxed out. The ICE vehicle more expensive than the Mach E, but a little bit cheaper than the Lightning.



2021 FORD MUSTANG MACH-E premium: $349.00

2022 GMC SIERRA C1500/K1500 premium: $375.00

2022 FORD F150 LIGHTNING premium: $387.00

 

[metroshot]

Now that a few forum members have taken delivery, I’m curious of how the insurance rates compared to your previous ICE vehicles. Some of you were driving an ICE F150 prior.

Just checked with my insurance company (Wawanesa) and by dropping my 2014 BMW and adding the 2022 Lightning, my rate went DOWN $100 annually.

How strange is that - a more expensive, newer vehicle is cheaper to insure than an older vehicle ?

 

[rdr854]

Actually it is not strange. My insurance company provides discounts for new vehicles as well as for certain technology/safety features that might not be on an older vehicle.

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