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About Pick Up Truck Insurance

Insurance rates are constantly changing and this is especially true for trucks. However, we can get a rough idea of the average cost of insuring a late model truck looking at data across several brands, including Ford and Chevy models. Based on a policy that includes liability and also comprehensive coverage, the average cost of insuring a pick-up truck in the U.S. is going to be about $2,400 annually. This equates to $200 a month, which puts it above the mainline coverage average cost for sedans and other vehicle types. While this is not cheap, comprehensive coverage is often recommended for trucks as they are often exposed more to severe weather conditions and are very expensive to repair.

Although the high cost of insuring trucks can scare off potential buyers, there are some simple steps anyone can take to lower their premiums by quite a bit. The first thing that needs to be done is raising the deductible amount. Some people mistakenly believe that raising this will push their rates higher but the opposite is actually true. When a deductible is increased, the policyholder is assuming more financial responsibility for the cost of an accident after a claim is made. This of course reduces the costs for the insurer and often results in drivers being more careful on the road and less accidents. Getting a $1,000 or higher deductible can lower premiums by 10% or more and make pick-up truck coverage a lot cheaper.

Another way to lower rates is to improve your driving record and credit score. This means paying off any past due tickets and getting your credit repaired as fast as possible. Many people don’t even realize that today’s insurance pricing includes credit rating scores. Insurers look at consumers who make risky financial moves as potentially riskier drivers and thus charge more for coverage. Likewise, those motorists that have more than 2 moving violations will be charged a lot more for vehicle insurance because of the intrinsic risks. Getting these two things cleared up can push your rates on that beloved truck down another 10% or even more.