Car Insurance Rates Battle: Ford vs Chevy

Ford's car insurance rates are less expensive than Chevrolet's. Expect to pay an average of $118 a month for Fords, compared to $122 for Chevys.

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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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Written by Laura Berry
Former Insurance Agent Laura Berry

Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

UPDATED: Jun 2, 2022

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Here's what you need to know...

  • Generally, Ford vehicles are less expensive to insure than Chevrolet
  • Safety ratings and features help keep the cost down to insure a Ford
  • There are many factors that go into determining your individual car insurance premiums

If you are in the market for a new car and are trying to decide between a Ford vs. a Chevrolet, then you might think that the insurance rates for the brands may help you make your decision.

Overall, you will find that Ford vehicles are less expensive than Chevy vehicles when it comes to insurance costs. In fact, Chevy vehicles don’t make any of the Top Ten lists when it comes to the most affordable vehicles to insure.

While average insurance rates are not precise and your insurance rates will always differ based on your own unique risk profile.

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You may find that their rates vary more if you take the time to shop around for car insurance from multiple companies, and you may be able to get a better deal on a Chevy.

Overall, however, you will find that Ford prices are cheaper.

Ford vs. Chevy – The Cheapest Ford to Insure

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If you have finally decided on a Ford, then you will want to know that the cheapest new Ford vehicle to insure is the 2016 Ford Escape. This vehicle, which has a starting ticket price of about $23,590, costs an average of $1,194.00 to insure annually.

Now, if you own an older Ford vehicle, then you will likely be paying less for your insurance than you would for a 2016 vehicle. Regardless, for an SUV, just over $1,000 a year is a very reasonable price.

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Ford vs. Chevy – The Cheapest Chevy to Insure

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The cheapest Chevy to insure is the Chevy Spark. The reason for this is that it is the cheapest vehicle manufactured by Chevy at a starting price of about $12,660.

The problem is that the Ford Fiesta, which is in the same class as the Chevy Spark, is less expensive to insure even though it costs a little more than the Spark. Part of the reason for this is that the Fiesta has more safety features and higher safety ratings.

Cheapest Cars to Insure – Ford vs. Chevy

The bottom line is that the less you are paying for your car insurance, the better. However, one thing that you need to be aware of is that some insurance companies give you less when you pay less.

You need to be conscious of all the benefits that each insurance company offers when they are quoting you a rate on your car insurance.

For example, if you compare GEICO to Progressive, you will often find that Geico is the less expensive of the two.

However, what you may not know is that GEICO’s insurance doesn’t cover other drivers on your car while Progressive’s insurance does. In addition, GEICO doesn’t cover rental car coverage while Progressive does.

Understanding what you are getting with your insurance policy is important.

While not having some extras may not be significant, if you aren’t aware of what you do or don’t have, you might find yourself in a situation where you aren’t covered in an accident.

Hybrids and Electric VehiclesFord vs. Chevy

Both companies are in transition here when it comes to hybrids and electric vehicles. On average, we found that car insurance for an electric vehicle is about 23% more expensive than the cost for the equivalent combustion model.

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Factors Included for Insurance Pricing a Ford vs. Chevy Vehicle

You may be wondering what factors are included when an insurance company quotes you a price for your premiums.

  • Your driving history – Your past three years of driving is a major factor.
  • Age and gender – In addition, an insurance company is going to consider this. Young males tend to have more accidents, especially fatal accidents, according to the Institute for Highway Safety. Therefore, they pay more for their insurance than any other age or gender group.
  • Safety features – The safety features included with your vehicle from the factory are considered as well.
  • Occupation – Many insurance companies include your occupation when considering how much you are going to pay for your insurance. Their rates are based upon statistical information regarding accidents and the occupations of the different people in those accidents.

People who work as doctors, lawyers, CEOs, deal with more stress and statistically this results in more aggressive driving and higher insurance rates.

Your credit score, the type of car you drive, where you live, how much education you’ve completed, and more of your characteristics and traits can all impact your rates as well. That is why it is so important to shop around for the lowest possible premiums.

You can find competitive insurance premiums for countless other vehicle models, especially if you request a car insurance quote from multiple companies.

Auto insurance companies usually charge more to insure electric cars because of higher repair costs.

Enter your ZIP code below to compare online car insurance quotes for free today.

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Enter your ZIP code below to view companies that have cheap car insurance rates.

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