The Ford Focus is a popular small vehicle due to its good fuel efficiency, often up to 35 mpg, its low sticker price, and its affordability to insure. Comfortable, stylish, and easy on the wallet, the Ford Focus has become a favorite for all age groups looking to save money on transportation.
What it will cost to insure a Ford Focus will depend on several factors. Age, driving record, and location are the most important demographic factors affecting your car insurance rate.
If you are a young male who has had a major accident in the last two years and lives in a large city, you will naturally pay more than an older, married female with a perfect driving history who lives in a small town.
Credit rating is also becoming an important factor in car insurance prices, as a high credit rating is statistically tied to more careful driving habits.
These things you may not have much control over; however, there are some ways you can save money on your insurance, the car you choose to drive is one of the most effective ways to lower your insurance costs.
In this regard, the Ford Focus shines. Insurers like the car because it speaks of economy and good financial sense; these qualities tend to translate into better driving records. Moreover, the Ford Focus is not very expensive to fix when compared to “luxury” sedans or SUVs, so even if you are involved in an accident, it will not cost the insurance company as much money to fix your car as if you had a more expensive model.
Ford Focus tends to hold its resale value, so insuring your car for full coverage is an important consideration. In many cases, cars lose value so quickly that once they are paid off, it is not worth it to keep full coverage on the vehicle. With a car which retains value, however, this may not be the case; be sure to assess the value of your Ford Focus before making a decision to drop any coverage.
The features on your Ford Focus will also determine how much you pay for insurance. You will pay far less for insurance if you have anti-theft devices, anti-lock brakes, air bags, and other safety features on your Ford Focus.
Many companies have great prices on Ford Focus auto insurance. For the average driver, the Ford Focus costs between $900 and $1,300 per year to insure. You can expect a drop of only about $20 per year for the first five years, however, so long-term costs of insurance are greater than immediate costs.
Of course, many factors can change this amount, but considering that the averages for many cars are much higher than this, it is a good indication that the Ford Focus is an insurance bargain. Insuring a Focus is not significantly higher than most other sedans, and you trade off the slight increase in price with an increase in value of your vehicle.
One thing working against the Focus on insurance costs is that the car itself depreciates so slowly. Your 2005 Focus is probably worth at least half of what you paid for it seven years ago. If you recently bought a Focus, it is probably worth at least 80% of the purchase price.
Insurance companies take this into account, knowing that they will have to pay out more on an older Focus than on some other cars. Consequently, you may pay more for your Focus insurance for the duration of your policy than you would for a car which depreciates more quickly. However, you will also gain a much greater payoff if your Ford Focus is wrecked, given the high retention in resale value.