Prices fluctuate based on a variety of conditions, such as having a clean driving record or poor credit. A recent accident can also affect your insurance costs, and depending on the type of car and who was at fault, that can be significant.
Insurance costs for the 1500 are slightly less than other popular truck brands and can vary between providers. But if you’ve recently had a mishap, you could face a significant price hike. Here’s everything you need to know about your vehicle insurance.
I recently determined that the average cost of insuring a Ram 1500 truck is $2,011 per year, which is about $214 less than other popular brands.
Car insurance comparison analyzed rates for a 40-year-old driver who drives approximately 13,000 miles a year, has good capacity and retains full coverage. Pricing is based on brand new vehicle on a single car policy with no discounts for multiple cars.
While the price worked out is the average cost of a Ram 1500, it depends largely on the driver’s age, credit score, where they live, type of vehicle, and how many miles they drive each year. For example, a 40-year-old driver with poor credit can expect to pay $3,454 annually to insure the same truck.
An 18-year-old with good credit and a clean driving record can expect to pay $6,347 annually to insure a Ram 1500, while a 55-year-old with the same criteria will pay roughly $1,794.
Increased cost of insuring a Ram 1500 after a faulty accident
If you get into an accident while driving and are found to be at fault, the annual insurance rate can be close to $2,952 per year. That’s an increase of $941 compared to a driver with a clean driving record. A 55-year-old driver who was involved in an accident with a Ram 1500 would see a price increase of $841, which would make her annual premium about $2,635.
Meanwhile, the 18-year-old driver involved in a car accident bears the largest burden and can expect to pay approximately $9,320 annually, which is roughly $3,000 more than someone of the same age who has never been in a car accident.
Why is the Ram 1500 Truck So Expensive to Insure?
The Ram 1500 is reportedly “very popular with car thieves,” ranking as the eighth best stolen car in 2019, with a staggering 11,000 Dodge pickups stolen that year. Insurance companies take this data into account when setting rates, especially if you live in a high-crime area.
The price of the car also plays an essential role in the cost of the annual insurance premium. Pricing for the Ram 1500 varies from $37,410 for the base Tradesman model to a whopping $84,555 for the top-of-the-line TRX version. Usually, the higher the price of the car, the more expensive it will be to insure it because the aftermath of an accident is much higher than that of other passenger cars.
Demographic information also plays a role in the cost of insuring a Ram 1500, as drivers who live in a rural area pay less than those who live in a high-crime metropolitan area. To get the most affordable car insurance on a Ram 1500 pickup truck, get quotes from various providers and do your best to maintain a good credit score and clean driving record.