What You Need to Know About Truck Insurance
Depending on your vehicle, shopping for truck insurance may be slightly different from shopping for a regular auto insurance policy. After all, trucks have the capacity to do many different things than cars, such as towing heavy loads and trailers. If something goes wrong with your truck, you want to make sure that it’s covered.
Car Insurance Vs. Truck Insurance
Generally speaking, pickup or SUV insurance will cost more than regular car insurance. Policy premiums for these larger vehicles can run up to 20 percent more from some companies. While the larger size of an SUV does make it safer, it also means the vehicle is more likely to cause major damage in the case of an accident. The greater the damages, the higher your premium. Other reasons SUVs may cost more to insure:
- They have an increased risk of rollover due to their design.
- They can be more expensive to repair, particularly if they have 4-wheel drive.
- They are stolen more often than other models of cars.
There are exceptions, of course, but overall, truck, SUV or pickup insurance will run a little bit higher.
Specifically for Pickup Owners
Pickup truck insurance can be more expensive for additional reasons as well. Pickups’ tendency to be used in hauling goods can increase the possibility for liability or damages. Also, they may need to pull horse trailers, utility trailers or medium-duty trailers that not only increase potential liability, but may require additional insurance of their own. Additionally, pickups may be frequently used for a business in the trades, such as landscaping or construction, which will mean tools and equipment bumping around in the back. This can damage the pickup bed itself and also cause extra damage to other cars if there’s an accident.
Hints & Tips
Something that may be worth doing when researching truck insurance policy options is deciding to look at higher limits for liability. Since, in an accident, damages to other vehicles can be greater than they normally would be if you were in a car, and repairs on your truck or SUV may be more costly than typical car repairs, raising your limits to ensure comprehensive coverage in the case of a crash might save you a bundle.
If you drive a van, dump truck, tow truck or box truck, you may require a completely different type of policy than your standard auto insurance. Drivers who own and operate commercial trucks will also need coverage that provides more specific protection than a typical individual auto insurance policy. Depending on your work and life situations, certain truck drivers may require different coverage as well. For example, owner-operators will need a policy that covers separate specifics from motor carriers or private carriers. Some insurance companies may also assist with the complexities of the commercial filings.
Finally, although on the whole premiums for truck and SUV insurance do run a little higher, remember that those vehicles often come with many safety features not available in sedan-style cars. In the end, spending a little more on your truck insurance may be worth it to keep you and your family safe in case of an accident.