Cheap Truck Insurance

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Cheap Truck Insurance

cheap truck insurance

Trucks are about as American as apple pie and ice cream. In some areas of the country like Texas, they are more common than cars. These versatile vehicles are so helpful and can solve so many problems, including hauling heavy items, towing a boat, or throwing a tailgate party in the back at a sporting event. If you are in the market to get a truck, you should also consider the insuring cost. It is possible to get cheap truck insurance, but it will depend on several factors.

It’s wise to do some initial research on the cost to insure the model truck you consider purchasing before you go out and buy it. The most important thing in finding low-cost truck insurance is to compare multiple providers’ rates. It will help you find what provider has the lowest-cost coverage also. To comparison shop online truck insurance quotes, enter your zip code to get started.  

Some Trucks are Inevitably Expensive to Insure

One of the most expensive trucks to insure is also the most popular: the top-selling Ford F150 truck series. The F-150 emerged again in 2015 as the best-selling truck in the USA. It has won this contest several years in a row. Insuring one of these enormous beasts can be a bit pricey. In many markets around the country, rates can cost more than $2,000 annually, far above the national average. 

Since 2014, when Ford began selling models that were aluminum framed, studies have shown that repair costs have shot up about 25%, which means insurers have to pass those cost increases along to the consumer. That, of course, means increases in premiums. Another reason why the Ford 150 truck costs so much to insure is the high replacement cost. A high-end model can easily cost over $50,000 or more. This hefty price tag results in higher rates to cover it.  

One way to get cheap truck insurance is to raise the premium to over $1,000. Doing this can save you 10% or more each year. If you have an expensive new truck, it might mean the difference between affording coverage or not. Get an instant Good To Go Insurance quote and compare the cheapest truck insurance rates online. 

The Main Factors that go into Pricing Truck Insurance Rates

Insurers use many factors to get your truck insurance premium. Here are a few of the primary factors. 

* Make, Model, and Year of your Truck

If you have a brand new truck with all the bells and whistles, you will be paying higher rates. Why might you ask? To repair or replace that expensive vehicle will cost more, so the carriers have to set the premiums higher. If you want cheap truck insurance, then buy an older model truck in cash. Then you can purchase liability-only coverage and save hundreds per year.  

* The Use of the Truck

Will the truck be driven for commercial or business activity, or is it strictly for personal usage? You will pay more if the use is for commercial purposes because the vehicle will be driven more and exposed to more high-risk traffic incidents. If it is used for business purposes, costs will vary depending on what is hauled. For example, if you deliver fireworks, you will pay more than delivering pizza because of the inherent risk involved. If you don’t drive too much and only use the truck for personal use, consider getting a telematic-based policy. This type of policy can save some drivers 30% annually.   

* The Number of Miles Driven each Month 

The more miles you drive each month, the more you will pay for auto insurance. Keep your mileage below 1,000 monthly, and you can save 10% or more. If you use a telematic device, drive safely and less than 800 miles per month, you can save hundreds each year and get cheap truck insurance coverage costs.  

* Your Driving Record

Your DMV record is one of the most significant factors determining the rates you will pay to insure your truck. Do you have more than 3 points on your record? Are there serious driving infractions like a DUI or reckless driving? These can push the cost of insuring your truck up substantially. If you get a ticket, go to traffic school, so the points don’t get slapped. Always drive responsibly and obey all traffic laws, including speed limits.  

* The Age of the Primary Driver

Younger drivers between the ages of 16 and 25 will get hit hard on premium costs. This is just an insurance fact due to the numerous accidents these young people are involved in. Drivers under 25 are the riskiest motorists on the road. For those over 25, rates will steadily go down each year until about 70, assuming you keep-up a good driving record.

* The Area Where you Live

Your zip code plays a significant factor in the rates you pay to insure your truck. In general, the more rural area you live in, the lower premiums will be and more likely you will get cheap truck insurance. Conversely, the more urban a place is, you can expect to pay more. With crowded streets and highways, the odds of getting into an accident in the city are more probable than in the country. Also, automobile thefts occur much more frequently in cities. 

Cheapest Trucks to Insure

Recently, Insure.com did an extensive study to find out what truck was the cheapest to insure. The verdict: the 2020 Toyota Tacoma 2-WD with four cylinders was the most affordable.  

Annual rates average about $1,200, which in some markets is half that of insuring a hefty Ford F-150. This Tacoma model is relatively inexpensive and less costly to repair than larger trucks, explaining the low insurance prices.

Other trucks that are cheap to insure are: 

  • Ram 1,500
  • Chevrolet Silverado
  • GMC Sierra
  • GMC Canyon

Compare Cheap Truck Insurance Rates Online 

Comparing side-by-side the cheapest truck insurance rates is possible with GoodtoGoInsurance. Just fill out a simple five-minute quote form, and you’ll be matched with multiple insurers’ lowest rates for the coverage you need. 

With good to go insurance, the average consumer saves about $550 buying online. The service is entirely free, and you are not obligated to buy a policy. See how easy it is to get cheap truck insurance online. Start your quote and see the savings for yourself.