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Truck and car insurance are both ways to protect you and your family and your vehicles. Auto insurance is mandatory for all drivers in Ontario. Owning a truck is more expensive than owning a car. Higher expenses for owning a truck include higher fuel costs, higher maintenance costs, and higher insurance costs. Vehicle insurance is determined by the insurance provider by assessing several factors. Insurance rates can vary from company to company and from vehicle to vehicle. Personal truck insurance provides peace of mind, financial protection against personal injury, property damages, and liabilities. 

Does it Cost More to Insure a Truck or Car?

Typically it costs more to insure a truck than a car. 

Reasons Why It Costs More to Insure a Truck than a Car

There are several reasons why truck owners pay higher insurance premiums than most car owners do. These reasons include:

  • Trucks are often more expensive than cars
  • Trucks can cause a lot more serious property damage 
  • Trucks can make personal injuries much more serious
  • Trucks are more apt to be involved in off-road incidents
  • Trucks are more susceptible to obstacle damage

Trucks Are Often More Expensive Than Cars

Typically trucks have a higher value than most cars. Therefore, when an insurance provider is accessing the replacement value or repair costs, it would be higher than a car would be. Insurance companies would have to pay out more money if a truck were in an accident as opposed to a car being in an accident. 

Trucks Can Cause A Lot More Serious Property Damage

Trucks are much larger and heavier than most cars. A truck has a higher probability of causing much more serious property damage and insurers would have to pay out more in property damage claims. 

Trucks Can Cause A Lot More Serious Personal Injury

Some insurers see trucks as a higher risk for causing more serious personal injury due to a truck’s size and weight. 

Trucks Are More Apt To Be Involved in Off-Road Incidents

off road vehicle

It is not uncommon for truck owners to go off-roading. This presents a higher incident risk as cars typically do not go off-roading. 

Trucks Are More Susceptible to Obstacle Damage

Again, due to the size of trucks, they are more susceptible to obstacle damage as they are not as easy to maneuver as cars are. Trucks tend to be involved with low ceiling incidents and backing into obstacles in parking lots etc. 

Average Truck Insurance Cost Per Month

On average truck insurance can cost between $1,200 and $4,000 a year in Ontario. 

Average Car Insurance Cost Per Month

On average car insurance can cost approximately $1,920 per year in Ontario.

Is There A Difference Between Car Insurance and Truck Insurance?

No. There is no difference between car insurance and truck insurance, personal pick-up trucks are considered cars and do not require a different or additional insurance product. Pick-up trucks fall under auto/car insurance. 

Pick-up Trucks Have Come A Long Way

Gone are the days most pick-up trucks were two-person vehicles with a flatbed. Today pick-up trucks are far more luxurious. The more luxurious the vehicle the more expensive it will be to repair and maintain the vehicle. Many pick-up trucks today include:

  • Extended Cabs
  • Crew Cabs
  • Extended Boxes
  • Luxurious Interiors
  • Extra Windows and Doors
  • Many More Electronic Features
  • Upholstery Upgrades
  • Box Liners
  • Box Covers 
  • Tonneau Covers 
  • Specialty Tool Boxes
  • High-Tech Towing Packages

Best Selling Pickup Trucks in Ontario

  1.     Ford F-Series
  2.     Ram Pickup
  3.     GMC Sierra
  4.     Chevrolet Silverado
  5.     Toyota Tacoma
  6.     Toyota Tundra
  7.     Chevrolet Colorado
  8.     Ford Ranger
  9.     GMC Canyon
  10.     Nissan Frontier

Cheapest Pickup Trucks to Insure in Ontario

  1.     Nissan Frontier
  2.     Toyota Tacoma
  3.     GMC Canyon
  4.     Ford Ranger
  5.     Toyota Tundra
  6.     Ford F-Series
  7.     GMC Sierra
  8.     Chevrolet Colorado
  9.     Chevrolet Silverado
  10.     Ram Pickup

The Most Expensive Pickup Trucks to Insure in Ontario

  1. Ford F-450 SD King Ranch Crew 4WD Turbo Diesel
  2. Ford F-350 SD Limited
  3. Dodge Ram 2500 Limited
  4. Ford F-250 SD Limited 4WD Turbo Diesel
  5. Dodge Ram 1500 Classic Laramie

Ford F-Series Pickup Trucks

According to Ford manufacturers, the Ford F-Series pickup trucks have been the leading best-selling pickup truck in Canada for over 55 years. 

Ford’s New 2021 F-150 Tremor comes complete with a new exterior equipped with a unique hood and grille. The aluminum-alloy-covered high-strength steel-framed vehicle presents the best-in-class towing and payload. Other F-150 models include:

  • F-150 XL
  • F-150 XLT
  • F-150 Lariat
  • F-150 King Ranch
  • F-150 Platinum
  • F-150 Limited

Ford 2021 Super Duty Models

Ford’s Super Duty Models include:

  • F-250 XL
  • F-250 XLT
  • F-250 Lariat
  • F-250 King Ranch
  • F-250 Platinum
  • F-250 Limited
  • F-350 XL
  • F-350 XLT
  • F-350 Lariat
  • F-350 King Ranch
  • F-350 Platinum
  • F-350 Limited
  • F-450 XL
  • F-450 XLT
  • F-450 Lariat
  • F-450 King Ranch
  • F-450 Platinum
  • F-450 Limited

The Limited editions in the F-series of the Ford models are the most expensive in each category. Purchasing truck insurance for these models could be much higher. 

Top Safest Trucks in Canada

Ford F150

A truck’s safety rating is one-factor insurance companies take into consideration when quoting premiums. Choosing a truck with a high safety rating could save you some money when it comes to purchasing truck insurance. The top pickup safety picks in Canada are:

  • Toyota Tacoma – best small pickup truck safety pick
  • Dodge Ram 100 – best large pickup truck safety pick

Factors Insurance Providers Take Into Consideration

Many people think Insurance companies determine a person’s premiums based solely on the year, make and model of vehicle you drive. However, the vehicle a person drives is only one factor an insurer takes into consideration. There are many other factors that will determine what a driver’s car insurance premium will be. These factors include:

  • Year, make and model of vehicle
  • Vehicle’s safety rating
  • Driver’s driving experience
  • Driver’s age
  • Driver’s gender
  • Probability of vehicle being stolen
  • Where the driver resides (high crime areas may increase insurance premiums)
  • Driver’s driving record
  • Prior claims
  • Insurance history

Even though the type of vehicle you drive is one of the largest factors in determining what your insurance premiums will be, as you can see there are several other factors that come into play when insurance providers are accessing your risk to them.

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