Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jul 19, 2021

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car or truck

Insurance Q&A: “Is insurance cheaper for cars or trucks?”

The answer depends on what type of car and what type of truck we’re talking about.

If you’re comparing a car to a semi tractor trailer, there’s no question the truck will cost more.

The semi will be between $4,000 and $8,000 per year, depending on what you’re hauling – if it’s gravel, expect the $8,000 price tag.

But we suspect you’re asking about a standard car and pickup truck, so let’s get back on track here.

Similar to most of the “which is cheaper” inquiries we receive, the answer will depend on a number of things.

As always, TTAI recommends you read about how insurance companies determine rates to understand the “why.”

Devil’s in the Details

The easy answer is there likely isn’t really any difference in cost between the two policies. The truck may be slightly cheaper considering trucks have a lower repair cost if damaged (physical damage coverage). Why?

The bed of a truck, which can easily make up over half the length of the vehicle, is typically sheet metal and nothing else.

Compare this to the back end of a car, which may have additional seating, windows, doors, electronics, upholstery, etc.

Insurance companies use the data collected from previous vehicle repairs they’ve made, and all that data tells them sheet metal is less expensive than the materials necessary to repair a “finished” cabin of a car.

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A Golden Rule? Not Anymore

Trucks are becoming much more common nowadays as they recreate and offer similar luxuries and comforts of their “bed-less” counterparts.

After all, it’s not uncommon for modern trucks to have four doors and as much seating as a car, in addition to an, albeit smaller, bed.

These additional amenities require additional funds to repair in the event of an accident. Higher repair costs equal higher overall insurance premiums. Period.

Don’t even get us started on the new luxury pickups that may cost substantially more than cars with similar seating capacity.

The Final Say

You’ll need to consider the liability limits being requested, your driving history, your insurance claims history, your insurance score, and whether or not full coverage is required or desired for your chariot.

These are all major factors in the determination of your overall premium.

Be sure to get insurance quotes online and/or visit a local independent agent to shop your rate with several insurers prior to purchasing a new policy.

The pricing difference between “car and truck” may pale in comparison to the difference between insurance companies that are battling it out for you insurance dollar!