How Much Should You Pay for Truck Insurance?

Trucks can be very cost-effective because of their reliability, but what about insurance costs? How much should the average driver be paying for truck insurance? Learn what factors are considered in insurance quotes here.

How much does truck insurance cost?

A black Ford F-150 4x4 is parked.
The Ford F-150 | Nic Antaya via Getty Images

RELATED: Are Trucks Less Expensive to Insure Than Cars?

Insuring a vehicle is usually one of the biggest long-term ownership costs that drivers have to deal with. Truck insurance can add up to upwards of $20,000 over a truck’s lifespan. Insurance policies differ in coverage, and rates are dependent on several different factors.

Insurance companies can take your age, gender, driving record, education level, credit score, location, and vehicle make and model into account when calculating your insurance rate. Companies also factor in how many miles you rack up annually. Even your marital status can impact your insurance quote.

Many drivers can expect to pay close to $1,346 a year for truck insurance. The vehicle’s age can also play a massive role in your insurance rate, as newer trucks are often more expensive to insure. Truck insurance doesn’t differ much from car insurance. Companies take the same factors into account when calculating a rate.

What is the cheapest truck to insure?

A blue Ram 1500 pickup truck is parked in a parking lot.
The Ram 1500 | Ram

RELATED: What Is the Cheapest Truck To Insure in 2021?

Rates vary from company to company, especially considering every driver has unique characteristics that affect rates, however, there are trucks that are historically cheaper to insure than others. According to Car and Driver, truck insurance has been especially cheap for the Nissan Frontier, the Ford F-150, and many General Motors truck models.

Some of the cheapest General Motors-produced models to insure include the Chevrolet Colorado, Chevrolet Silverado, GMC Canyon, GMC Sierra, and GMC Sierra. The model with the most affordable average annual premium insurance rate listed is the Nissan Frontier at between $1,011-1,787 annually. The most expensive listed is the Toyota Tundra at between $1,152-2291 annually.

How can I lower my truck insurance?

A gray Ford F-150 pickup truck is driving on a snowy road.
The Ford F-150 | Ford

RELATED: Chevy Silverado vs. GMC Sierra: Which Truck Is Cheaper to Insure?

If you feel you are spending way too much on truck insurance, the best thing to do is compare rates across different insurance companies. Though insurance companies consider the same factors when calculating rates, they can often arrive at different quotes. If you are content with your insurance provider but not with your rate, there are several other actions you can take to reduce your monthly truck insurance costs.

Defensive driver courses can help in reducing monthly truck insurance costs. There are also different ways to renegotiate your current rate with your insurance provider, such as making use of existing promotions or deals. Ultimately, some factors such as location or age can have a huge impact on how high your truck insurance rate is.

The best you can do is research all coverage options and consult with many different providers when shopping for the most affordable rate. If you are paying over $1,400 annually to insure your truck, you may have some work to do.

RELATED: Ford Makes the Most Expensive Truck To Insure in 2021