The Ford F-150 Lightning was one of the cheapest electric vehicles to insure in 2025, and despite that, the annual insurance cost was higher than what gas-powered Ford F-150 owners paid, revealing an important aspect of EV ownership.According to a report by Ford Authority, the Ford F-150 Lightning, which has been discontinued, was even cheaper to insure than the Tesla Cybertruck. Annual insurance costs for the EV pickup were $2,778, while the annual cost to insure the gas-powered F-150 was $2,581.Despite the relatively small 7.6% difference, the trend highlights that EVs are more expensive to insure, and the 2026 average prices highlight a larger difference. EVs cost an average of $3,159 per year to insure in 2026. Gas-powered vehicles, on the other hand, cost an average of $2,218 per year to insure.AdvertisementAdvertisementThe reason for the difference in insurance costs is that EVs tend to be pricier to repair and maintain because they have more technology and are newer, whereas there are more gas-powered vehicles on the road today with older technology, which contributes to the difference.The report adds that the average median vehicle age in Insurify’s database is 11.5 years. When comparing 2024 figures for new vehicles, the cost gap between EVs and gas-powered vehicles has reduced by 18%, a sign that the difference will continue to reduce as more people switch to new cars.However, EV insurance costs for new vehicles have been increasing significantly, having risen 37.6% since 2023, while the insurance cost for vehicles running on internal combustion engines (ICE) has risen by 24% in the same time frame.While EVs may boast cheaper running costs than ICE vehicles, the fact that they cost more to insure can be a significant drawback for potential customers looking to switch from ICE vehicles, especially given the near 40% price hike in just three years.AdvertisementAdvertisementIt remains to be seen what impact the rising fuel prices will have on ICE vehicle insurance in a few months, considering the ongoing military conflict with Iran that currently shows no signs of ending.End of the Road for the F-150 LightningSpeaking of the F-150 Lightning, Ford already ceased production at the Rouge plant, which now manufactures ICE-powered F-Series trucks in what was initially a temporary move but has since become permanent.Going forward, Ford plans to shift to an extended-range electric vehicle (EREV), a hybrid vehicle in which the ICE component acts solely as a generator, which will eventually be built in Dearborn. However, the American automaker has not provided a timeline for when it will be available to purchase.