Why is truck insurance cheaper than car insurance?
Lower repair and replacement costs result in lower insurance premiums. The heavy-duty nature of pickup trucks often results in less damage and fewer injuries. These factors result in less expensive claims, which also lower insurance rates.
Do pickup trucks cost more to insure?
As you might expect, trucks are more expensive to insure than a sedan. The monthly gap in car insurance costs between pickup trucks and cars is $102. If you’re looking for a cheap sedan to insure, consider the Ford Fiesta.
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.