Insurance for pickup trucks: basics and ways to save

 

No matter if you live in the backcountry or downtown, owning a truck is different than driving a sedan or SUV. They’re great for towing, tailgating, and begrudgingly helping your friends move. But trucks have one thing in common with other vehicles: they gotta be insured. The good news is that on average, trucks are the cheapest vehicle type to insure, with an average annual premium of $1,254 in 2018. Still, saving anywhere is saving everywhere, so let’s explore the cheapest and most expensive trucks to insure by comparing rates across providers for top truck models.

 

Insuring your pickup truck
  1. Cheapest car insurance rates by company for pickup trucks
  2. Do you need additional insurance coverage for a pickup truck?
  3. How else can you save?
  4. Additional resources

 


 

Best cheap car insurance for pickup trucks by company

 

Because all pickup trucks are not created equal, we broke down car insurance quotes by top companies for popular makes and models. Reference the below list to compare pickup truck insurance rates for the model you're considering buying. Spoiler alert: the Chevy Colorado is the cheapest pickup to insure.

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Chevrolet Colorado

 

With a towing capacity between 3,500 and 7,000 pounds, a Chevy Colorado has the second-cheapest list price and lowest car insurance premium among the surveyed pickups. The 2020 Chevy Colorado has a list price of $21,300 and an average annual premium of $1,113. However, if you select Nationwide or USAA, your monthly premium can be as low as $89 a month.

Annual average Chevrolet Colorado insurance premiums

CompanyAnnual premiumMonthly premium
Allstate$1,874$156
GEICO$1,274$106
Farmers$1,546$128
Liberty Mutual$1,689$140
Nationwide$1,066$88
Progressive$1,428$119
State Farm$1,358$113
USAA$1,066$88

 

 

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Chevrolet Silverado

 

The next Chevy model we assessed, the Chevrolet Silverado, is a bigger truck with more towing capacity than the Colorado, which is reflected in both the list price and the cost to insure. The Silverado is in the middle to high-end of the surveyed pickup trucks, with a list price of $28,300 and the annual cost to insure of $1,169. If you're looking to find the cheapest insurance rates for a Chevy Silverado, start your search with USAA and Nationwide.

Annual average Chevrolet Silverado insurance costs

CompanyAnnual premiumMonthly premium
Allstate$1,863$155
GEICO$1,330$110
Farmers$1,552$129
Liberty Mutual$1,554$130
Nationwide$1,135$94
Progressive$1,501$125
State Farm$1,382$115
USAA$1,070$89

 

 

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Ford F-150

 

The Ford F-150 is a classic pickup truck. Although slightly more expensive to buy than the Silverado, it had the second cheapest average premium out of all pickup trucks surveyed. In addition to the list price of $28,495, a Ford F-150 costs approximately $94 per month to insure. Policies from the F-150 cheapest insurance provider, USAA, drops to $84 per month for this vehicle.

Annual average Ford F-150 insurance costs

CompanyAnnual PremiumMonthly premium
Allstate$1,816$151
GEICO$1,266$106
Farmers$1,472$123
Liberty Mutual$1,580$132
Nationwide$1,126$94
Progressive$1,410$118
State Farm$1,286$107
USAA$1,012$84

 

 

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GMC Canyon

 

We've selected two GMC trucks to examine, the Canyon and the Sierra, with the first being the Canyon. With an MSRP over $6,000 less than the Sierra, the Canyon has less horsepower and towing capacity, but costs slightly more to insure than the Sierra. As with the other pickup trucks surveyed, Nationwide and USAA were the cheapest insurance companies for this make and model.

Annual average GMC Canyon insurance rates

CompanyAnnual PremiumMonthly premium
Allstate$1,980$165
GEICO$1,338$112
Farmers$1,507$126
Liberty Mutual$1,736$145
Nationwide$1,135$95
Progressive$1,358$113
State Farm$1,335$111
USAA$1,081$90

 

 

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GMC Sierra

 

With a more powerful engine than the Canyon, the list price of the GMC Sierra is on the higher end among the trucks surveyed at $28,300. Despite this, the Canyon boasts lower-than-average insurance costs. Insuring a GMC Sierra averages $1,137 annually, $568 on a standard six-month policy, or $95 per month. Nationwide and USAA offer the cheapest GMC Sierra insurance.

Annual GMC Sierra insurance rates

CompanyAnnual premiumMonthly premium
Allstate$1,815$151
GEICO$1,265$105
Farmers$1,514$126
Liberty Mutual$1,629$136
Nationwide$1,213$101
Progressive$1,487$124
State Farm$1,477$123
USAA$1,064$89

 

2019_Honda_Ridgeline.png

Honda Ridgeline

 

Outside of its commercial work vehicle — the Honda Acty — the Honda Ridgeline is the only truck Honda manufactures, and it's quite pricey. On the upper end for both a list price and premium, a Honda Ridgeline will set you back nearly $30,000 to buy and nearly $1,420 annually to insure. If you're looking to lower that premium, consider Nationwide if you don't qualify for USAA.

Annual Honda Ridgeline insurance costs

CompanyAnnual premiumMonthly premium
Allstate$2,108$176
GEICO$1,604$134
Farmers$1,811$151
Liberty Mutual$1,714$143
Nationwide$1,322$110
Progressive$1,399$117
State Farm$1,432$119
USAA$1,112$93

 

 

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Nissan Frontier

 

The two Nissan pickups included in our analysis sit at the two ends of the pricing spectrum. With a list price of $19,090 and an annual cost to insure at $1,142, the Nissan Frontier is the least expensive truck to buy and has a midrange cost to insure compared to other pickups. On a monthly basis, insuring this pickup will set you back $95, with USAA and Nationwide being the cheapest options.

Annual average Nissan Frontier insurance rates

CompanyAnnual premiumMonthly premium
Allstate$1,787$149
GEICO$1,185$99
Farmers$1,497$125
Liberty Mutual$1,689$141
Nationwide$1,168$97
Progressive$1,394$116
State Farm$1,243$104
USAA$1,011$84

 

 

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Nissan Titan

 

If you're looking for a Nissan with a little more towing capacity and horsepower, the Nissan Titan might be up your alley. But you'll have to be willing to pay a higher-than-average price for the additional power. The Titan is the second most expensive truck to insure — at $1,485 annually — and has the second highest list price at $30,690. To keep your premium over $280 below average, look into qualifying for USAA. Otherwise, Nationwide may have the best deal for Nissan Titan insurance.

Annual average Nissan Titan insurance costs

CompanyAnnual premiumMonthly premium
Allstate$2,217$185
GEICO$1,696$141
Farmers$1,839$153
Liberty Mutual$1,773$148
Nationwide$1,487$124
Progressive$1,773$148
State Farm$1,665$139
USAA$1,203$100

 

 

2013_Toyota_Tacoma.png

Toyota Tacoma

 

The Toyota Tacoma has a midrange list price among top pickup models, and the same can be said about the cost to insure this vehicle. The Tacoma costs a little over $50 more per year to insure than the cheapest pickup, the Chevy Colorado. Look to mitigate some of these costs by choosing GEICO or Nationwide if you're not eligible for USAA.

Annual Toyota Tacoma insurance premiums

CompanyAnnual premiumMonthly premium
Allstate$1,811$151
GEICO$1,280$107
Farmers$1,626$136
Liberty Mutual$1,708$142
Nationwide$1,147$96
Progressive$1,444$120
State Farm$1,353$113
USAA$1,032$86

 

 

2018_Toyota_Tundra.png

Toyota Tundra

 

The last pickup truck we assessed, the Toyota Tundra, has both the highest list value and insurance expense. Purchasing a Tundra will set you back $33,425 — 75% more than the cheapest new truck model, the Nissan Frontier. The Tundra's cost to insure is high as well, at over $1,500 per year.

Annual average Toyota Tundra insurance rates

CompanyAnnual premiumMonthly premium
Allstate$2,291$191
GEICO$1,708$142
Farmers$1,897$158
Liberty Mutual$1,787$149
Nationwide$1,500$125
Progressive$1,724$144
State Farm$1,590$133
USAA$1,152$96

 

 

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Do you need additional insurance coverage for a pickup?

 

Auto insurance is designed to cover as many vehicle types as possible. However, some attributes of pickup trucks — and their common uses —  may call for additional insurance. Additional insurance is most often necessary if you use your truck to tow trailers or other vehicles.

 

Does auto insurance cover towing a trailer?

It depends. Let’s say you’re helping a friend move with a U-Haul rental or a similar trailer. Most insurance policies' liability coverage extends to cover bodily injury and property damage caused to someone else by your trailer. Physical coverage of the trailer, on the other hand, depends on the details of your policy. If you carry comprehensive and collision insurance, your trailer may be protected. But there's a chance your insurance only extends to cover a certain amount — for example, a limit of $500. So, if your trailer is more valuable than that, you might want to look into supplemental physical coverage for your trailer.

It's unlikely your auto insurance would extend to cover individual items you are towing, whether in the trailer or on their own. For instance, a boat or the belongings inside a U-Haul may not be covered by car insurance. While the trailer and hitch might be covered, the actual boat and belongings would not be.

 

Customized parts and equipment

If your truck has any particularly costly customizations, they could exceed the limitations of a basic auto insurance policy. In this case, look into coverage for customized parts and equipment to make sure your truck is fully protected. Common examples of these custom additions include:

  • Stereos, Wi-Fi equipment
  • Custom paint, murals, or decals
  • Suspension enhancers
  • Height-extending roofs

 

 


 

 

How else can you save?

 

No matter which company you select, you’re probably paying more for car insurance for your pickup truck than you’d prefer. Let’s break down some money-saving solutions.

 

Be smart with your claims

While the point of car insurance is to protect your investment, there are only a handful of situations in which you should file a claim. You should file a claim if the incident necessitates a comprehensive claim (something that occurred while not driving your vehicle), if you were hit by an uninsured motorist and have uninsured motorist coverage, or if the value of the damage greatly exceeds the premium increase that would be triggered by the claim. While the first two examples are pretty straightforward, the last one introduces some complexity. Here’s our guide to determining whether you should file a claim:

  • Get an estimate for the repairs at a local repair shop
  • Use our State of Insurance analysis to see how much an at-fault accident would raise your rates, given your location. You should consider the potential cost over a three-year period, as that’s how long most companies will elevate your rates after a claim.
  • Compare the rate increase plus your deductible to the out-of-pocket cost. Whichever option is cheaper, do that.

If you’ve damaged someone else’s vehicle, you have less flexibility in terms of whether or not to involve insurance companies. If the other driver does not want to be paid out of pocket for the damage, which is common, you don’t have a choice.

While there is a considerable difference from state to state regarding rate increases for at-fault claims, below is the average across the US. An at-fault accident may raise your rates by more than $1,800 over a three-year period.

 

Average Rate Increase After an At-Fault Claim

Increase at 6 monthsIncrease at 12 monthsIncrease at 3 Years
+$308.50+$617+$1,851

 

Double-check for discounts

Although most pickup truck discounts are quite small, they can add up. When looking for ways to save, consider the following discounts:

 

Shop around

It’s important to see understand how driver-specific car insurance is. The data we presented is reflective of one single user profile, which may or may not apply to you or anyone else in your driving profile. You should think of our data as a jumping-off point before using our comparison tool to receive quotes from top insurers based on your make, model, and personal profile. Just enter your zipcode below to start.

 

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Additional information

 

Didn't find the information you need? Reference our additional car insurance resources for more ways to save.

 

 


 

Method to our madness: how we do it

 

The Zebra conducted comprehensive auto insurance pricing analysis using its proprietary quote engine, comprising data from insurance rating platforms and public rate filings. The Zebra examined nearly 53 million rates to explore trends for specific auto insurance rating factors across all United States zip codes, averaged by state, including Washington, DC.

The analysis used a consistent base profile for the insured driver: a 30-year-old single male driving a 2013 Honda Accord EX with a good driving history and coverage limits of $50,000 bodily injury liability per person/$100,000 bodily injury liability per accident/$50,000 property damage liability per accident with a $500 deductible for comprehensive and collision. For coverage level data, optional coverage (that must be rejected in writing) is included where applicable, including uninsured motorist coverage and personal injury protection.

Some rate data may vary slightly throughout the report based on rounding.