How to Get Cheap Truck Insurance for Your Pickup Truck

Obtaining pickup truck insurance involves disclosing the type of truck used, what it hauls, the amount it's used, and the driver's record.

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Insuring a pickup truck that is used for business or commercial purposes is different than insuring a personal pickup truck. For a work truck, you may need additional coverage according to the particulars of your business in order to protect yourself, your employees, and your assets.

Personal car insurance companies may not even sell policies that cover pickup trucks used for work. This is where commercial truck insurance comes into play.

Selecting the best policy for the best price can be challenging, though. By reading through the advice compiled here, you will be able to move forward with your important truck insurance decisions. Part 1 describes the factors that determine truck insurance rates and Part 2 advises you on how to find the best rates.

Part 1 of 2: How to understand what factors determine pickup truck insurance rates

To get the best possible deal on insurance for your pickup, it is helpful to educate yourself on what affects premium amounts, noting what you can and cannot change.

Step 1: Keep in mind the specifics of your truck and your driving habits. Know that the type of truck, what the truck is hauling, and how much the truck is driven will all contribute to how much you end up paying.

A pickup truck with a trailer attached, for example, will require more coverage, and be more expensive to insure, than a pickup truck without said trailer.

Similarly, a truck carrying livestock will be less expensive to insure than a truck carrying hazardous materials like oil or dynamite.

A pickup that hauls locally in a rural area will probably receive a lower rate than a pickup that hauls across a wide regional area or in a more urban setting.

Step 2: Keep in mind the details of the driver. Whether you or an employee will be the primary driver of your pickup, the truck insurance company is going to consider a number of driver-related details. These usually include factors like the driver’s demographics (age, gender, marital status, etc.) and his or her driving record.

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Types of Pickup Truck Insurance
Type Definition
Liability Essentially covers any damage or injuries that you or your employees cause others; usually includes property damage and bodily injury coverage
Physical damage Essentially covers any damage done to your pickup; usually includes collision coverage to help with damage from an accident and comprehensive coverage to help with damage from other causes, such as theft, vandalism, weather, and so on
Trailer Separately covers liability risks for trailers attached to your pickup; may vary by type of trailer
Underinsured motorist Provides extra coverage in the event of an incident that involves an underinsured or uninsured driver whose own coverage is insufficient to cover any damage or injury he or she may have caused

Step 3: Determine your coverage needs. Pickup insurance, a specific type of commercial truck insurance, is designed with the particular risks associated with pickup trucks that are used for business in mind.

Typically, these policies include four types of coverage that you can choose from: liability, physical damage, trailer, and underinsured motorist.

This is the area in which you have the most flexibility in that you can chose to include any, all, or a combination of the types of coverage available in your policy, knowing that adding more types of coverage will increase your insurance costs. That being said, it is important to consider every eventuality when choosing your policy so that you do not end up with any holes in your coverage in the event of an incident.

Also keep in mind that most states have certain minimum insurance coverage requirements, usually at least including liability, if not more.

Part 2 of 2: Obtaining the best possible pickup truck insurance rate

Step 1: Maintain a clean driving record. The best way to keep any auto insurance rate down is to ensure that your driver’s record stays clean. This could mean consistently practicing safe, responsible driving yourself if you intend to be the primary driver of your work truck, or hiring a driver with a good driving history and safe driving habits.

Regardless of insurance rates, this is a good practice anyway for the safety of yourself, your employees, and others on the road.

Step 2: Compare quotes from several companies. Because prices can vary from company to company, be sure to contact at least three different commercial truck insurance companies to inquire about a quote for pickup insurance.

These are usually free and come with no obligation, and comparison shopping can help you avoid overpaying.

Step 3: Ask about any discounts you might be eligible for. Taking advantage of discounts is another great way to lower your rate. Factors that might warrant a discount include, among others:

  • Having a commercial driver’s license
  • Being an established business
  • Having good credit
  • Reducing the amount you drive your truck
  • Packaging multiple policies (i.e., your commercial pickup truck insurance policy as well as any other business insurance policies you need) together with a single company

Step 4: Choose as high a deductible as you can. By selecting a high deductible, you can save on your premium payments and generally pay much less for insurance over the course of an incident-free year.

Keep in mind, though, that this will mean paying more out-of-pocket if an incident does occur, so be careful not to choose a deductible amount that you cannot afford to pay.

Though the specifics of commercial pickup truck insurance differ from that of personal pickup truck insurance, the general advice remains the same: know what factors determine insurance rates, know what coverage you need ahead of time, maintain a safe driving record, and compare quotes to get the best rate.

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