Truck vs. Car Insurance

Most policyholders have the impression that it is more expensive to insure trucks than cars. Car insurance premiums are calculated differently depending on the insurer. There are some factors to consider when comparing truck vs. car insurance. There are differences between truck and car insurance

It doesn’t matter if you own a car or a truck; auto insurance is mainly to financially protect you in the event of an accident. One of the basic differences between truck and car insurance is that a truck can be more expensive to insure than a car. Trucks may also be more expensive to maintain than cars.

Is there a Difference Between Car and Truck Insurance?

You do not need a different type of insurance for a car or a truck. They are both covered under the car/auto insurance premiums. Car insurance covers every vehicle for personal use. However, there are a few differences between truck and car insurance. When determining your car’s insurance rates, the make and model of your car are not the most important factors. Age, location, driving records, and others have more influence when insurers determine your insurance rates.

Average Car Insurance Rates For Trucks vs Cars

While the average cost of auto insurance is $1,771 annually for full coverage, there is a difference between the average rates for trucks and cars. Depending on the vehicle’s make and model, insurance rates are determined. The table below shows the differences between the rates of a truck and a car.

This table illustrates that there are not many differences between truck and car insurance rates.

Factors that Affect Your Truck vs. Car Insurance

Different factors are considered when auto insurance rates are being determined. Some of these factors are based mainly on the vehicle, while others are based on the information provided by the driver. When determining auto insurance rates, these factors are placed together to create a risk estimate. This estimate shows how presumably a driver would file a claim in the future. Below are some of the factors that affect your truck or car insurance.

Make and model of vehicle:

 Different vehicles have their crash ratings and different cost levels for replacements and repairs.

Age of vehicle:

 New vehicles are considered to be less prone to accidents but are more costly to repair, but old vehicles cost more for repairs.

Gender:

When determining rates, the gender of the driver is considered in some states. The average rate for men is slightly higher than that of women; this is because male drivers are more likely to get involved in accidents than female drivers.

Driving record:

A good driving record is likely to get you a lower rate for auto insurance. This is because most insurers will consider you to have a low risk of getting involved in an accident or filing a claim.

Age of the driver:

 Different age groups have a higher or lower likelihood of auto occurrence. Drivers in the middle age range are considered cheaper to insure. However, some states do not allow insurance companies to consider age when determining insurance rates.

Location:

Your location may indirectly impact your insurance rates. This is because the cost of living in your location may affect the cost of repairs and parts for your vehicle. There are different rules that insurance companies must follow, and these rules vary by state.

Insurance company:

 Insurance rates vary by insurance company. Every insurance company has different processes they follow to determine premiums. So you are likely to get different price quotes from different insurance companies for the same coverage.

Credit score:

 Policyholders with good credit scores are considered to be low-risk and are less likely to file a claim.

Car insurance history:

Having a period when your car insurance lapses may increase your future insurance rates. If you just recently filed a claim, your insurance rates will be higher for the next three to five years.

These factors are likely to affect your truck vs. car insurance.

Is it Cheaper to Insure a Truck or a Car?

Different auto insurance companies use different factors to determine insurance rates. Some of these factors include make or model, vehicle-specifics, location, and the driver. The driving record and age of the driver are the most important factors car insurance companies look into when determining rates.

Drivers with a bad driving record may be charged more for car insurance than a person with a good record; likewise, younger and older drivers tend to be more expensive and have higher rates from insurers. Due to these factors and the number of those not based on the vehicle, you will need to gather more information when checking out the differences between truck and car insurance.

When are Trucks More Expensive to Insure than Cars?

There is no definite time when truck insurance is more affordable than car insurance. Truck insurance rates may be lower when the truck is easy to repair or when it is safer than a car. Most trucks have larger parts than cars. Cars are sometimes more expensive to insure.