Are Trucks More Expensive to Insure? (2024)

The average cost of car insurance in the U.S. is $153 per month. Trucks cost about $151 per month to insure, while sedans average around $174, based on Insurify data. Although trucks cost slightly less to insure than cars, many factors can affect rates, like safety features, make and model, and your ZIP code.

Here’s what you need to know about truck insurance costs.

Average cost of car vs. truck insurance

Insuring a car costs more than insuring a truck, even though trucks typically have higher suggested retail prices. For example, the Ford F-150 truck has a starting MSRP of $37,065 and costs around $191 per month for full coverage, on average. But if you choose a top-selling sedan like a Toyota Camry — which has a much lower starting MSRP of $26,420 — you’ll pay an average of $223 for full-coverage insurance.

Multiple factors affect average car insurance rates, including safety features. In the case of these two popular vehicles, the F-150 likely costs less to insure than the Toyota sedan thanks to its higher IIHS safety rating.^[1]

Average cost of truck insurance for popular models

The average cost of truck insurance for eight popular models is $103 per month for liability-only insurance and about $199 for full-coverage insurance. Some larger trucks, like the 2024 Ram 1500, cost slightly more to insure, while smaller trucks typically cost less.

The 2024 Ford Ranger has the lowest insurance rates on average. It’s smaller than the Ford F-150 and comes with a lower starting cost, which could explain why it’s cheaper to insure. The Ranger also has a lower towing capacity. This limits how the truck can be used, potentially reducing risky activities and rates.

The below table shows the average insurance costs for popular truck models.

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Average cost of car insurance for popular models

The average cost of insurance for many popular car models is usually higher than getting truck insurance. For instance, with the Tesla Model 3, you’ll pay more for full coverage than you would for a Toyota Tacoma truck. This is especially true for electric vehicles and hybrids. Insuring popular SUVs, like the Nissan Rogue, can sometimes be slightly more pricey than truck insurance, too.

Here’s a closer look at average sedan and small SUV liability-only and full-coverage rates.

Factors that affect car insurance premiums

A vehicle’s specific model year and its safety rating are only some of the factors car insurance companies look at when determining rates. Other factors also affect average rates for insurance policies, like your age and gender, your driving record, and the type of coverage you choose.^[2]

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  Driving record

  Safe drivers with no accidents or tickets on their records usually get the lowest average monthly rates.

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  Credit history

  Drivers with poor credit histories usually pay higher insurance premiums because insurers consider them to be a higher risk.

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  Gender

  Average insurance rates for women are typically lower than what men pay. Insurers generally view men as higher-risk drivers.^[3]

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  Age

  Younger drivers pay higher rates than middle-aged drivers due to an increased risk of fatal accidents.

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  Car usage

  Driving long distances frequently or using your vehicle for business reasons can cause your rates to go up.

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  Location

  Your ZIP code plays an important role in securing competitive rates. For example, if your city experiences higher motor vehicle thefts or crash rates than the national average, you may pay higher rates.

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  Coverage type

  Many types of coverage are available beyond the state-required liability policies. Choosing additional coverage typically increases your premiums.

Truck vs. car insurance FAQs