What types of drivers typically pay more for insurance?
New drivers are more expensive to insure due to the lack of a driving record. Younger drivers are more likely to be in an accident, which also raises car insurance rates. New drivers can pay as much as $3,000 per year or more for car insurance depending on the company.
Why is truck insurance so high?
Your pickup truck is capable of inflicting a lot of damage due to its sheer size and weight. In an accident, this damage could result in higher property damage claims. Hence, insurance companies tend to view trucks as a riskier asset to insure than cars.
Are trucks cheaper to insure than cars?
The average truck insurance cost nationwide in 2020 is $1,750 compared to the average for cars at $2,209. That comes to a 26% savings for truck insurance over car insurance.