The 10 Most Affordable Trucks and SUVs to Insure

By the Mercury Team

Whether you’re looking for a rugged truck for work or a versatile SUV for family outings, both of these vehicles remain popular for drivers seeking versatility, durability, and extra space. However, their larger size and enhanced capabilities often mean that insurance costs can be a significant factor to consider. In this blog, we’ll dive into the most affordable trucks and SUVs to insure, highlighting options that balance functionality and cost-efficiency.

Trucks

What Are the Cheapest Trucks to Insure by Make and Model?

To compile this list, Mercury’s research and development team examined 2024 model-year (MY) trucks available at car dealerships today. Here are the cheapest trucks to insure:

1. Chevrolet Colorado
2. Chevrolet Silverado
3. Ford Maverick/Ford Ranger *
4. Hyundai Santa Cruz
5. Toyota Tundra Crewmax
6. Ford F350 Super Duty
7. Ford F150
8. Toyota Tacoma
9. Ford F250 Super Duty
10. Dodge Ram 1500

*Tied for third place

Are Trucks More Expensive to Insure?

When it comes to insuring vehicles, trucks often carry a reputation for being more expensive than cars or SUVs. This belief makes sense because there are some reasons why insuring trucks can be more expensive. Firstly, trucks generally have a higher initial purchase price, which can translate into higher replacement and repair costs in the event of an accident. Additionally, the size and weight of trucks can contribute to more severe damage in collisions, potentially leading to higher claims.

However, it’s not all straightforward. Insurance costs can also be influenced by the specific model of the truck, its safety features, and how it’s used. For instance, trucks used for work purposes, like construction or heavy towing, might face higher insurance premiums due to the increased risk of damage or accidents. On the other hand, you might get affordable truck insurance if you own a personal-use truck equipped with advanced safety features.

SUVs

What Is the Cheapest SUV to Insure?

Just like with the trucks, Mercury’s research and development team reviewed 2024 model-year SUVs currently available at car dealerships to create this list. Here are the least expensive SUVs to insure:

1. Fiat 500X
2. Hyundai Santa Fe
3. Honda Passport
4. Honda Pilot
5. Chevrolet Blazer
6. Kia Sportage
7. Honda CR-V
8. Ford Escape
9. Honda HR-V
10. Kia Soul

Are SUVs More Expensive to Insure?

The cost of insuring an SUV can sometimes be higher than other types of vehicles. You might wonder: Do insurance companies take into account the size of an SUV when setting policy prices?

Yes, an SUV’s size is a significant factor in determining insurance costs. Larger SUVs can be more expensive to insure because they can cause more damage in an accident and typically have higher repair costs. However, insurance rates are not solely based on vehicle size. Insurers also consider other factors, including:

• Safety features: SUVs equipped with advanced safety technologies may qualify for lower insurance premiums. These features help reduce the risk of accidents and minimize damage when collisions occur.
• Vehicle use: The way you use your SUV impacts insurance costs. An SUV driven primarily in urban areas might have different risks than one used for off-roading or extensive highway travel.
• Model and make: The specific model and make of the SUV also affect insurance rates. Some models are known for their durability and lower repair costs, which can reduce insurance premiums.
• Driver’s record and habits: A clean driving record can significantly lower costs, whereas a history of accidents or traffic violations can increase it.

What Determines Car Insurance Rates?

Insurance companies use a variety of factors to set premiums, each designed to assess the risk of insuring a driver and their vehicle. Here are some of the key factors that influence your car insurance rates:

• Driving record: Your past driving behavior strongly predicts your future risk. Accidents, traffic violations, and DUI/DWI offenses can significantly increase your premiums.
• Credit score: Many insurers use credit scores to determine your reliability and likelihood of filing claims. A higher credit score could mean lower insurance rates.
• Age: Younger drivers are generally more likely to be involved in accidents than older, more experienced drivers, resulting in higher premiums.
• Vehicle type: Your rates are affected by your vehicle’s make, model, and age. Sports cars, for example, are more expensive to insure than family sedans because they’re more likely to be involved in accidents and costly to repair.
• Location: Where you live and park your car can impact your insurance costs. Urban areas with higher rates of theft, vandalism, and accidents tend to have higher rates than rural areas.
• Mileage: The more you drive, the higher your risk of being in an accident. Drivers who use their cars frequently or commute long distances will likely face higher premiums than those who drive less.
• Coverage and deductibles: The amount and type of coverage you choose will also affect your insurance costs. Opting for higher deductibles can lower your premiums, but you’ll pay more out-of-pocket in the event of a claim.

How Can You Save Money on Truck and SUV Insurance?

Saving money on insurance can be a bit of a balancing act between ensuring you have adequate coverage and keeping costs manageable. Here are several strategies for getting affordable auto insurance:

• Shop around: Different insurers offer different rates, so it’s worth getting auto insurance quotes from multiple companies to compare prices and coverage options.
• Bundle policies: Many insurance companies offer discounts if you bundle your auto and home policies.
• Increase deductibles: Opting for a higher deductible can lower your premium. Just ensure you can afford the deductible if you need to make a claim.
• Maintain a clean driving record: Insurance companies often offer lower rates for drivers with a clean driving history. Avoiding tickets and accidents can help keep your premiums down.
• Invest in safety features: Equipping your vehicle with safety features such as anti-theft devices, GPS tracking, and advanced driver assistance systems can sometimes lead to auto insurance discounts.
• Pay annually: Some insurers offer discounts if you pay your premium in full annually rather than in monthly installments.

• Review coverage regularly: Your insurance needs might change over time. Periodically review your coverage to ensure you’re not paying for unnecessary coverage or missing out on necessary ones.

• Choose the right truck or SUV: The model type and age can affect insurance rates. Newer trucks and SUVs with advanced safety features may cost less to insure, while older models might incur higher premiums due to increased risk of breakdowns.
• Limit mileage: If you drive fewer miles, you might qualify for lower rates. Make sure your insurer is aware if you’re driving less than you used to.

Conclusion

Choosing the right truck or SUV doesn’t have to be overwhelming. By understanding the factors that affect insurance costs, such as vehicle type, usage, and safety features, you can make more informed decisions that suit your budget and lifestyle.

When it comes to auto insurance, consider Mercury. Whether you’re insuring a car, truck, or SUV, we provide a range of affordable coverage options to meet your specific needs.

Contact us today for a fast, free quote!