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Average pickup truck insurance costs for 2017 models

Love pickup trucks?

Here is just one more reason that pickups are better than cars, they are cheaper to insure.

We crunched the numbers to get the average pickup truck insurance cost for 2017 models and according to our data, pickups are 8 percent cheaper to insure than cars. The nationwide average for pickups was a pretty affordable $1,478, while the nationwide average for a car was $1,605.

Not all pickups are created equal though when it comes to insurance; the most expensive truck to insure on our list is a whopping 43 percent more expensive than the least expensive truck on the list and well above the national average for cars.

We ran quotes on just about every 2017 pickup truck in the market and found out which ones are the cheapest to insure and which ones are the most expensive. The results are below so keep reading to find the perfect truck (and insurance premium) for you.

Why pickup trucks tend to be less expensive to insure

There are a few different reasons why rolling down the highway in a pickup is a bit cheaper when it comes to insurance.

Surprisingly, one of the more important and functional parts of a pickup truck also helps keep insurance affordable. The fact that a good portion of a pickup is made up of the bed keeps repair costs reasonable, which insurers love.

“The bed of a truck, which is often over half the length of the vehicle, is typically sheet metal and nothing else, while the back end of a car may have additional seating, windows, doors, electronics, and upholstery,” points out Bill Davis with the Insurance Information Institute. “Insurance companies use data collected from previous vehicle repairs and that data tells them sheet metal is less expensive than the materials necessary to repair the finished cabin of a car.”

The size and height of a pickup can also play into lower rates. “Many pick-ups can sustain more damage and absorb the impact better than a car. This may result in less injuries, lowering the average claim cost for the insurer,” says Rishi Jaitley with My Insurance Broker.

Finally, the fact that pickups are more popular in rural areas can help keep insurance costs lower. On average, there are fewer accidents and less car theft in rural areas, so insurance rates tend to be lower.

The cheapest pickup trucks to insure

Be warned, the cheapest pickup trucks to insure on our list are not going to be huge workhorses that can pull a house down the street, they are light to mid duty trucks with a four or six cylinder under the hood and they are all two wheel drive vehicles. 

(To find insurance costs for all types of vehicles, including many more pickup trucks, see the Insure.com list of the most and least expensive cars to insure.)

2017 Nissan Frontier S

Average annual premium: $1,216

NissanFrontier2017

The Nissan Frontier is one of the cheapest pickups you can buy, making it a bargain to insure. Insurers consider the value of the vehicle when setting rates. “The value of the truck will impact insurance rates, the higher the value, the higher the cost to insure it”, advises Denise Metz with Warren G. Bender Company.

 

A starting price of $18,390 makes the Frontier a bargain basement pickup, but that low start price means you will be giving up some features. “This is the oldest, least updated pickup truck in the midsize segment and the S is the base trim package, says Mark Williams with Cars.com. “It is a two-wheel drive with a manual transmission, and a four cylinder under the hood but on the positive side, all of the production bugs seem to be worked out and it’s a solid, old-school chassis pickup with work-duty as its top priority.”

 

The Frontier offers 152 HP and can tow up to 3,760 pound with 930 lbs of maximum payload. It managed a 4-star overall rating (out of 5) from the National Highway Traffic Safety Administration (NHTSA).

 

2017 Ford F-150XL

Average annual premium: $1,219

Despite a significant jump in price, the XL starts at $27,110, insuring this beauty only pushes the average premium up three dollars. While this is still considered an entry-level trim package, the F-150 XL is powered by a six-cylinder engine that generates 282 HP and can pull up to 5,000 pounds.

Because this is an entry-level version, don’t expect too much when it comes to luxury appointments but the F-150 is considered extremely reliable and easy to handle. Its low insurance costs may be due to some smart thinking on Fords part.

“When Ford introduced the all-new aluminum F-150 in 2015, they intentionally included some manufacturing and body construction designs to make it easier to replace and repair different body parts of the truck,” says Williams.  “Ford worked pretty well with the repair industry to get the right tools and training to body shops so working on aluminum wouldn’t cost any more than previous steel bodies.”

 

2017 Chevrolet Colorado

Average annual premium: $1,228

The Colorado is an excellent choice for a midsize two-wheel drive truck and it is a bargain to insure. “While this base model is not going to be the ultimate in luxury, this is a solid truck that will get the job done,” says Chris Riley, founder of Gearheads.

The Colorado comes with a 2.5L four-cylinder engine that puts out 200 horsepower. Choosing the smaller engine, (a V-6 is also available) helps keep the starting price low and insurance affordable. The Colorado starts around $28,000 with the 4-cylinder engine.

“A fairly impressive array of safety features and a four star safety rating from the NHTSA also helps to keep insurance costs affordable,” continues Riley. Four-wheel antilock disc brakes, StabiliTrak electronic stability control system with traction control and a rear vision camera are all standard equipment.

 

2017 GMC Canyon

Average annual premium: $1,229

This is the GMC twin to the Chevy Colorado so no big surprise that this is also a very affordable truck to insure. “Like the Colorado, this is a solid choice in the midsize segment but the base trim and four-cylinder engine do limit performance and interior luxury factors, but help keep insurance costs low” says Riley. The towing capacity of the 4-cylinder Canyon comes in at 3,500 pounds.

The Canyon starts at around $24,000 making it a cheaper option than the Colorado.

2017 Toyota Tacoma SR

Average annual premium: $1,233

This is the base model Tacoma and like the other ones on our list, it is a two-wheel drive and has a four-cylinder under the hood. “Much like the other pickups on the list, this is an entry level pickup that is not going to offer overwhelming performance but is a very reliable truck that will offer years of light duty service,” advises Riley.

The 2.7-liter four-cylinder manages 159 horsepower and starts at a very affordable $22,000. The Tacoma scores the highest safety rating of “Good” from the Insurance Institute for Highway Safety, which also helps keep insurance reasonable.

“The fact that the Tacoma is one of the best selling trucks in the midsize segment may also help with insurance costs,” points out Riley. “This means there are plenty of parts available for repair as well as plenty of claim history which allows insurers to accurately price a policy.”

Most expensive pickup trucks to insure

These trucks are at the top of the list when it comes to insurance costs. They are all larger, 4-wheel drive trucks (except one), with at least a V-8 under the hood. More power combined with the cost of repairing a four-wheel drive transmission helps push up the cost of insurance. In addition, these are all top of the line when it comes to luxury, that will almost always boost the cost of insurance.

 

2017 Nissan Titan Platinum Reserve

Average annual premium: $1,679

This pickup still falls into the half-ton category but has a 5.6-liter V8 that puts 390 horsepower. Four-wheel drive comes as standard equipment, which always drives up the cost of insurance.  “A 4x4 will have a higher rate as the risk factors and value of the truck are greater,” points out Metz.

 

The Platinum Reserve can pull 9,230 pounds and has a max payload of 1,610 pounds, which makes it a real workhorse.

 

A much higher starting price, the Platinum Reserve starts at $52,000 also pushes up the cost of insurance. “The Platinum Reserve is their top-of-the-line luxury trim package, and does offer quite a few unique and special materials inside the cabin,” says Williams.

 

The Platinum Reserve offers a 360-degree parking camera, leather upholstery, chrome and wood interior accents as well as a heated steering wheel and ventilated front seats and heated rear seats so you will absolutely be comfortable rolling down the highway in this beast.

 

2017 Dodge Ram 1500 Laramie Limited

Average annual premium: $1,692

The Laramie Limited is also a four-wheel drive crew cab with a big 5.7L HEMI V8 engine under the hood, which cranks out 395 horsepower. All of this power, combined with a high starting price, ($56,000) will absolutely push up the cost of insurance.

The Laramie also offers a variety of optional features. “This trim package is their top-of-the-line luxury package and can be ordered with many different and special features that no other manufacturer offers: RamBox, EcoDiesel, four-corner air suspension, coils spring suspension are just a few examples,” says Williams.

“If a pickup has additional, more expensive equipment on it, compared to more standard models, that could push the cost of insurance,” points out Davis.

The Ram was awarded a 4-star overall rating (out of 5) from the NHTSA which not only keeps you safe but helps keep insurance cost somewhat reasonable on this big truck.

 

2017 Chevrolet Silverado 3500HD High Country

Average annual premium: $1,695

It’s no wonder this one is on our most expensive to insure list, it is a real beast. The Silverado 3500HD is the only one ton truck on our list and it pushes the standard insurance limit. “If a pickup is over a ton it might be required to carry a commercial auto policy rather than a personal auto policy which is general going to cost more,” advises Metz. Luckily, the Silverado comes in under that limit.

However, it is a 4x4 with a 6.6-liter turbo diesel V-8 engine that can put out 445 horsepower. An Allison 6-speed transmission makes sure that all of that power gets to the ground, allowing it to tow up to 13,400 pounds and a maximum payload of almost 5,000 pounds. 

The Silverado is not just a workhorse, it’s also loaded with luxury which helps explain the starting price of roughly $68,000. A Chevrolet MyLink audio system with 8" Diagonal Color touch-screen with Navigation, a Bose stereo and dual zone climate control are all standard equipment.

 

2017 Ford F-250 SD Platinum

Average annual premium: $1,726

The Ford F-250 is a 3/4-ton truck that is all new for 2017 and unfortunately, it is fairly pricey to insure. This 4x4 has a 6.7-liter turbodiesel V8 that puts out an impressive 440 horsepower. When it comes to towing, the F-250 is a superstar, being able to move up to 18,000 pounds.

This is the top of the line trim level so the interior is extremely luxurious. Adaptive steering, power running boards, remote tailgate release and blind-spot monitoring with rear cross-traffic alert are all standard features.

Because this is the top of the line trim, the starting price is also pretty impressive at $62,310 and that will almost always push up the cost of insurance. “The F-250 lineup is particular popular with car thieves, making the list of most stolen vehicles a number of years in a row, which leads to higher insurance rates,” says Riley.

Insurers will always price a commonly stolen vehicle higher as there is a better chance they will have to pay out a claim.

2017Longhorn2017 Dodge Ram 2500 Longhorn

Average annual premium: $1,749

This is the most expensive truck on our list to insure and it’s a big rig. A heavy-duty 6.4L HEMI V8 Engine puts out 410 horsepower which allows it to pull 17,980 pounds. The Longhorn is fairly expensive, starting at around $54,000 but you get quite a bit of luxury at that price point.

 

This is a serious truck and that large engine will cost you when it comes to insurance. “A large V8 engine (especially a diesel) can be dramatically more expensive to repair or replace than a four-cylinder,” explains Riley. “They will factor that cost into their premiums.”

 

 

(All photos courtesy of vehicle manufacturers.) 

 

Methodology:

Insure.com commissioned Quadrant Information Services to estimate average annual premiums for 1,500 2017 models for sale in the U.S. market.

The insurance costs listed here reflect the average of what an unmarried 40-year-old male can expect to pay for a year's worth of coverage if he commutes 12 miles to work each weekday, has a clean driving record and good credit. Estimates also assume drivers get "100/300/50" policies ($100,000 injury liability for one person, $300,000 for all injuries and $50,000 per accident for property damage), plus collision and comprehensive coverage with $500 deductibles.

All price figures refer to manufacturer's suggested retail pricing for a given model's indicated trim line, excluding options, rebates and destination fees.

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