When buying a brand-new full-size pickup truck, it is easy to get wrapped up in all of the features and trim levels. While a low base price is undoubtedly important, buyers can easily overlook the potentially expensive long-term insurance costs. The Toyota Tundra could easily fall into this category with its fancy off-roading trims and stellar dependability ratings. Unfortunately, Insurify reports that Toyota’s full-size truck is also one of the most expensive 2021 models to insure.
How expensive is the 2021 Toyota Tundra to insure?
The Toyota Tundra and its $33,675 base price are a great way to get into one of the most reliable brand-new trucks around. However, opt for the 2021 Tundra, and Insurify reports that you’ll receive an average annual insurance bill of $1,721. In contrast, the average annual insurance rate for a brand-new 2021 vehicle is set to be around $1,208, says Insurify.
While this Toyota Tundra insurance rate may seem relatively high, it could be much larger. This is because this average rate is estimated for a driver with a clean driving record. According to Insurify, being an aggressive driver could see your insurance rates increase by up to 20 percent. If you find yourself charged with a significant traffic violation such as driving under the influence or reckless driving, your rates could skyrocket by 49 percent.
As a result, if you plan on picking up a 2021 Tundra, you’ll want to drive as safely as possible, or things could get substantially more expensive.
How do other full-size pickup trucks stack up?
To add a bit of context to this 2021 Toyota Tundra insurance average, let’s look at some of its competitors. According to Insurify, the next most expensive truck of the three big American carmakers is the Chevy Silverado. Insuring the Chevy will cost you an annual average of $1,556, making it significantly cheaper than the Toyota Tundra.
According to Insurify, insuring a Ford F-Series truck annually will cost you around $1,527. However, we assume this refers to the smaller F-150, given how expensive the larger F-450 is to insure. Regardless, the Ford F-Series is almost $200 cheaper to insure than the Toyota Tundra.
Lastly, we’ve got the Ram 1500. If you are looking to save money on insurance, the Ram is, without a doubt, the way to go. This is because Insurify reports that the Ram 1500 costs $1,407 to insure annually on average. This makes it over $300 cheaper to insure than the Toyota Tundra. As a result, potentially saving money upfront with a lower purchase price is only half the story.
What if I must have a Toyota Tundra?
If you absolutely must have a Toyota Tundra, your best bet would be to look at the used market. This is because Insurify reports that used vehicles are significantly cheaper to insure. Additionally, you’ll save big thanks to the initial depreciation hit brand-new vehicles take.
In the case of a vehicle costing $1,914 to insure annually, Insurify reports that the premium will dip to $1,694 by the time it is six years old. If we apply this to the Toyota Tundra, you’d be looking at a 2015 model that features the facelift implemented in 2014 and all of the tech upgrades. The added benefit here is that the 2015 model looks quite similar to the 2021 model, except it will be significantly cheaper to buy and insure.