Owning a truck can be a wise decision, whether you want it as a primary vehicle or you buy it for hauling stuff on the weekends. Pickup truck beds offer storage capacity useful for hauling items such as furniture, firewood, or building materials for home improvement projects. Pickups also typically get better gas mileage than larger trucks or SUVs. Pickup trucks tend to be solidly built and durable, and frequently last for many years.
If you own or are considering purchasing a truck, you may have questions about pickup truck insurance. Fortunately, you can turn to the Trusted Choice® network of independent agents for answers. Find a local member agent in your area today to get answers to your questions and free personalized truck insurance quotes.
Compact pickup truck owners paid $1,439 per year, or $119.98 a month
Mid-size pickup truck owners paid $1,445 per year, or $120.48 a month
Full-size pickup truck owners paid $1,509 per year, or $125.75 a month
Full-size heavy-duty pickup owners paid $1,600 per year, or $133.40 a month
What Is Non-Commercial Truck Insurance?
Truck insurance is a specialized automobile insurance policy designed especially for owners of small trucks that are driven for personal use. This vehicle insurance is typically more expensive than insurance coverage for passenger cars because these are larger, heavier vehicles that are known to cause more extensive property damage in a collision.
If you use your truck for commercial purposes, even if you just attach a snowplow and help people clear snow off their driveways for a few months each winter, you will need to find out if you need a separate commercial truck policy, which has additional coverage requirements. Be sure to contact an independent agent in the Trusted Choice network for information.
What Does Truck Insurance Cover?
A basic truck insurance policy will provide you with your state-mandated, minimum liability coverage. Depending on where you live, your liability minimums may vary according to the size of truck you are insuring.
Beyond the required liability coverage, you can get additional options including collision insurance, comprehensive insurance and uninsured/underinsured motorists insurance. Some or all of these additional coverage options may be required by your lender if you have financed the purchase of your truck.
Collision insurance: Collision insurance covers the cost to repair or replace your vehicle if it is damaged in a collision, regardless of fault. In most cases, this coverage is for the actual, depreciated value of your truck, but if your vehicle is newer, some insurance companies may permit you to purchase replacement value coverage.
Comprehensive insurance: This coverage provides compensation if your vehicle or anything kept inside it is lost or damaged due to causes other than a collision. This includes coverage for losses due to fire, natural disasters, vandalism and theft. It also includes things like falling or flying objects, such as items falling off the back of a truck.
Uninsured/underinsured motorists insurance: This coverage ensures that you will receive compensation for damages to your vehicle and for necessary medical coverage for you or your passengers if you are hit by a driver with too little or no auto insurance. This insurance also covers damages and injuries from a hit-and-run accident.
How Much Truck Insurance Coverage Do I Need?
Because of the increased potential to cause damages during a collision, truck owners often find that the minimum liability coverage required by their states is often insufficient to cover their risks. If you cause bodily injury or property damage that exceeds your liability limits, you will be responsible for making up the difference. For this reason, truck owners are often advised to purchase as much liability coverage as they can comfortably afford.
Whether or not you should purchase additional, optional coverage is dependent largely on your personal situation. If you are driving an older truck that has little value, collision coverage may not be necessary, whereas if your truck is new, your lender may require it. If you bought your truck without taking out a loan, you may still want to have this added coverage as a way to protect your investment.
What Determines the Cost of a Truck Insurance Premium?
When you request a quote for a truck insurance policy, an agent or insurance company representative will ask you to supply information about yourself and your truck. This is because there are many different factors taken into consideration to determine the cost of your premiums. These factors include the following:
Your age, driving record, and the driving records of anyone included on the policy
The make, model and year of your truck
Where and how often you drive it
Where and how you store your truck when not in use
Your insurance claim history and credit rating
The coverage limits and options you choose
The amount of your deductible
It is because of these various factors that insurance rates can very so much between customers. For example, the cost of premiums for a seasoned driver will be much lower than for a new teen driver.
How Can I Save Money on My Truck Insurance Policy?
The best way to ensure that you are not paying too much for policy is to compare quotes from a variety of truck insurance companies before making a selection. In many cases, insurance companies will offer deals and discounts to their customers. Be sure to ask about any discounts you may qualify for when requesting truck insurance quotes. Some ways to lower your costs include:
Take advantage of multiple policy discounts. When you combine your truck insurance with other policies, such as your homeowners or renters insurance, you can usually save money on all policies you carry with your insurance company. You can often pay for all your premiums with one combined payment, making this a time saver too.
Select a higher deductible. Your deductible is the amount that you must pay out-of-pocket before your insurance coverage kicks in. The higher your deductible, the lower your insurance premium will be. To save money, you should set your deductible to the highest amount you can comfortably afford to pay if you need to file a claim.
Opt for automatic payments. Many insurance companies will give you a discount when you agree to have your payments automatically deducted from your bank account each month. Choosing to do so can also prevent late payment fees.
Use anti-theft devices such as GPS tracking. When your truck is equipped with anti-theft devices, it is less appealing to a car thief and more difficult to steal. Your truck insurance company may offer you a policy discount on your comprehensive coverage if you have installed such a device.
Ask about discounts for memberships or affiliations. When you request a quote, be sure you ask each truck insurance company if they offer discounts for affiliations with certain groups or organizations. You may find that having certain memberships, such as professional groups, alumni associations or credit unions, can result in a discount on your premiums.
How Can I Find the Best Truck Insurance Agency?
Insurance professionals recommend getting quotes from at least three different insurance companies when comparison shopping for truck insurance. Because you must provide each insurance company with your personal details each time, rate shopping can often prove time-consuming and frustrating.
Working with an independent agent in the Trusted Choice network can simplify this process. You need only provide your details and information once and then your agent can do the comparison shopping for you. In addition to providing several competitively priced quotes for you to compare, your agent can also answer your insurance-related questions and will even advocate for you during the claims process if the need should arise.
Trusted Choice network agents can be found in thousands of locations across the United States so it is easy to find a representative close to home. Find your local agent today to get answers to your questions and compare truck insurance quotes for policies specifically tailored to your needs.