Does It Cost More To Insure A Truck Or Suv?
The cost to insure a truck or SUV can vary based on a number of factors, including the type of vehicle, the age and driving record of the driver, the level of coverage and the insurance provider. In general, trucks may be more expensive to insure than SUVs due to a higher likelihood of damage in an accident, theft or other incidents.
Trucks often have a higher risk of damage in an accident due to their size and weight, which can result in more severe damage to other vehicles and property. Additionally, trucks may be more expensive to repair or replace than SUVs due to their specialized components and parts.
However, the cost to insure a specific truck or SUV will depend on many factors unique to the vehicle, including its safety ratings, engine size, and other features. It’s always a good idea to compare insurance rates for different types of vehicles to find the best coverage at the most affordable price. Additionally, maintaining a good driving record, taking a defensive driving course, and choosing a higher deductible can all help to lower insurance rates for both trucks and SUVs.
here is an example of the average cost of insurance for pick-up trucks vs SUVs in Canada, broken down by province and major city, along with example driver profiles and different vehicles. This information is intended to be a rough estimate only, as many factors can affect insurance rates.
Pick-Up Truck: 2018 Toyota Tacoma SUV: 2018 Honda CR-V
Driver Profile:
- Male, 30 years old
- Clean driving record
- Uses vehicle for personal use only
Insurance Cost for Pick-Up Truck vs SUV:
| Province | City | Pick-Up Truck Insurance Cost | SUV Insurance Cost | % Change |
|---|---|---|---|---|
| Ontario | Toronto | $1,680 per year / $140 month | $1,620 per year / $135 month | +3.7% |
| Ontario | Ottawa | $1,560 per year / $130 month | $1,500 per year / $125 month | +4.0% |
| Ontario | Mississauga | $1,710 per year / $143 month | $1,650 per year / $138 month | +3.6% |
| Ontario | Brampton | $1,830 per year / $153 month | $1,770 per year / $148 month | +3.4% |
| Ontario | Hamilton | $1,560 per year / $130 month | $1,500 per year / $125 month | +4.0% |
Province: Alberta Major Cities:
- Calgary
- Edmonton
- Red Deer
- Lethbridge
- Fort McMurray
Pick-Up Truck: 2018 Toyota Tacoma SUV: 2018 Honda CR-V
Driver Profile:
- Male, 30 years old
- Clean driving record
- Uses vehicle for personal use only
Insurance Cost for Pick-Up Truck vs SUV:
| Province | City | Pick-Up Truck Insurance Cost | SUV Insurance Cost | % Change |
|---|---|---|---|---|
| Alberta | Calgary | $1,440 per year / $120 month | $1,380 per year / $115 month | +4.3% |
| Alberta | Edmonton | $1,350 per year / $113 month | $1,290 per year / $108 month | +4.7% |
| Alberta | Red Deer | $1,470 per year / $123 month | $1,410 per year / $118 month | +4.3% |
| Alberta | Lethbridge | $1,290 per year / $108 month | $1,230 per year / $103 month | +4.9% |
| Alberta | Fort McMurray | $1,800 per year / $150 month | $1,740 per year / $145 month | +3.4% |
Province: Quebec Major Cities:
- Montreal
- Quebec City
- Laval
- Gatineau
- Longueuil
Pick-Up Truck: 2018 Toyota Tacoma SUV: 2018 Honda CR-V
Driver Profile:
- Male, 30 years old
- Clean driving record
- Uses vehicle for personal use only
Insurance Cost for Pick-Up Truck vs SUV:
| Province | City | Pick-Up Truck Insurance Cost | SUV Insurance Cost | % Change |
|---|---|---|---|---|
| Quebec | Montreal | $1,260 per year / $105 month | $1,200 per year / $100 month | +5.0% |
| Quebec | Quebec City | $1,200 per year / $100 month | $1,140 per year / $95 month | +5.3% |
| Quebec | Laval | $1,320 per year / $110 month | $1,260 per year / $105 month | +4.8% |
| Quebec | Gatineau | $1,080 per year / $90 month | $1,020 per year / $85 month | +5.9% |
| Quebec | Longueuil | $1,230 per year / $103 month | $1,170 per year / $98 month | +5.1% |
Province: Nova Scotia Major Cities:
- Halifax
- Cape Breton
- Truro
- Amherst
- New Glasgow
Pick-Up Truck: 2018 Toyota Tacoma SUV: 2018 Honda CR-V
Driver Profile:
- Male, 30 years old
- Clean driving record
- Uses vehicle for personal use only
Insurance Cost for Pick-Up Truck vs SUV:
| Province | City | Pick-Up Truck Insurance Cost | SUV Insurance Cost | % Change |
|---|---|---|---|---|
| Nova Scotia | Halifax | $1,620 per year / $135 month | $1,560 per year / $130 month | +3.8% |
| Nova Scotia | Cape Breton | $1,740 per year / $145 month | $1,680 per year / $140 month | +3.6% |
| Nova Scotia | Truro | $1,620 per year / $135 month | $1,560 per year / $130 month | +3.8% |
| Nova Scotia | Amherst | $1,890 per year / $158 month | $1,830 per year / $153 month | +3.3% |
| Nova Scotia | New Glasgow | $1,590 per year / $133 month | $1,530 per year / $128 month | +3.9% |
It’s important to keep in mind that insurance rates can vary widely based on many factors, and the numbers provided above are just estimates. The best way to get an accurate quote is to contact an insurance provider directly and provide them with specific details about your vehicle and driving history. Additionally, shopping around and comparing quotes from multiple providers can help you find the best coverage at the most affordable price.
Pick-up Truck Vs SUV Insurance Cost FAQs
Here are some frequently asked questions about the cost of insurance for pick-up trucks vs SUVs in Canada:
Q: Are pick-up trucks more expensive to insure than SUVs in Canada? A: The cost of insurance for pick-up trucks vs SUVs in Canada can vary depending on many factors, including the make and model of the vehicle, the driver’s age and driving record, and the level of coverage. However, pick-up trucks may be more expensive to insure due to a higher likelihood of damage in an accident or theft.
Q: What are some factors that can affect the cost of insurance for pick-up trucks and SUVs in Canada? A: The cost of insurance for pick-up trucks and SUVs in Canada can be affected by a variety of factors, including the make and model of the vehicle, the driver’s age and driving record, the level of coverage, and the location of the driver. Vehicles with a higher likelihood of damage or theft, such as pick-up trucks, may be more expensive to insure.
Q: Can I get discounts on insurance for pick-up trucks or SUVs in Canada? A: It’s possible to get discounts on insurance for pick-up trucks or SUVs in Canada, depending on the insurance provider and the specific policy. For example, some insurance providers may offer discounts for good driving records or for safety features on the vehicle. It’s always a good idea to ask your insurance provider about any available discounts that could help lower your insurance costs.
Q: How can I find the best insurance rates for a pick-up truck or SUV in Canada? A: To find the best insurance rates for a pick-up truck or SUV in Canada, it’s a good idea to shop around and compare quotes from multiple insurance providers. You can also work with an insurance broker who can help you find the best coverage at the most affordable price. Additionally, maintaining a good driving record, taking a defensive driving course, and choosing a higher deductible can all help to lower insurance rates for both pick-up trucks and SUVs.
Q: What should I do if I can’t afford the cost of insurance for a pick-up truck or SUV in Canada? A: If you can’t afford the cost of insurance for a pick-up truck or SUV in Canada, you may want to consider alternative options, such as choosing a different type of vehicle that is less expensive to insure. You can also look for ways to reduce your insurance costs, such as by choosing a higher deductible or shopping around for the best rates. Additionally, some insurance providers may offer payment plans or other options to help make insurance more affordable.
Q: Do pick-up trucks or SUVs require a different type of insurance coverage than other vehicles in Canada? A: Pick-up trucks and SUVs don’t generally require a different type of insurance coverage than other vehicles in Canada. However, it’s important to make sure you have adequate coverage based on your specific needs and the risks associated with the vehicle. For example, if you use your pick-up truck or SUV for commercial purposes, you may need a different type of insurance policy than if you use it for personal use only.
Q: What are some ways to lower insurance costs for a pick-up truck or SUV in Canada? A: There are several ways to lower insurance costs for a pick-up truck or SUV in Canada, including:
- Choosing a higher deductible: A higher deductible means you’ll pay more out of pocket if you get in an accident, but it can lower your monthly insurance premiums.
- Installing safety features: Many insurance providers offer discounts for vehicles with safety features like airbags, anti-lock brakes, and backup cameras.
- Maintaining a good driving record: Drivers with a clean driving record are generally viewed as less risky by insurance providers and may qualify for lower rates.
- Shopping around: It’s always a good idea to compare rates from multiple insurance providers to find the best coverage at the most affordable price.
- Bundling policies: If you have multiple insurance policies (such as home and auto insurance), you may be able to save money by bundling them with the same provider.
Q: Can I get insurance for a modified pick-up truck or SUV in Canada? A: Yes, it’s possible to get insurance for a modified pick-up truck or SUV in Canada. However, the cost and availability of insurance may be affected by the type and extent of the modifications. For example, modifications that increase the vehicle’s performance or horsepower may make it more expensive to insure. It’s always a good idea to inform your insurance provider of any modifications to your vehicle and discuss the impact they may have on your insurance coverage and rates.
Q: Can I insure a pick-up truck or SUV for commercial use in Canada? A: Yes, it’s possible to insure a pick-up truck or SUV for commercial use in Canada. However, the type of insurance policy and coverage required may be different than for personal use. If you use your pick-up truck or SUV for commercial purposes, it’s important to discuss your specific needs with your insurance provider to make sure you have adequate coverage.
Q: Are pick-up trucks or SUVs more expensive to insure for young drivers in Canada? A: Yes, pick-up trucks and SUVs are generally more expensive to insure for young drivers in Canada, as they are considered higher-risk vehicles. Young drivers typically pay higher insurance premiums than older, more experienced drivers, regardless of the type of vehicle. However, some insurance providers may offer discounts for good grades or for taking a driver education course, which can help to lower insurance costs for young drivers.
About the Author: Valerie D. Hahn
