Nowadays, pickup trucks can be used for more than just hauling stuff from A to B, and there are a lot of good reasons for that. One of those reasons is because trucks have, on average, a lower insurance premium than a regular car does. While there are a lot of variables that goes into calculating insurance rates, some pickup trucks are just cheaper to insure than others.

Size matters

Like Insure.com wrote, the average car costs about $2,200 a year to insure, while the average truck costs about $1,750. This means that, on average, drivers are saving about 26% on their car insurance by switching to a truck. There are many reasons why trucks are so cheap to insure, but one of the main ones has to do with the size.

Since trucks tend to be larger than regular sedans, if a truck were to get into an accident, then there’s a better chance that the truck will come out of it unscathed compared to the sedan.

As a result, a car insurance company won’t have to pay out as much for a truck owner than it would have to pay out for a sedan owner. That being said, size matters in the opposite direction, too. That’s because, according to Insure, the cheapest trucks to insure are mostly small.

The cheapest trucks to insure in 2021

Insure.com said that the cheapest truck to insure in 2021 was the 2020 GMC Canyon, as its most basic version only had an average insurance premium of about $1,411 a year.

With that being said, while the Canyon ultimately came in at first place, it was an extremely close race. Insure.com said that the Nissan Frontier came in at second place, the Ford Ranger at third place, the Chevy Colorado at fourth place, and the Ford F-150 XL at fifth place. 

For reference, the F-150 XL, even though it came in at fifth place on Insure’s list, only had an annual insurance premium of $1,440. That means that, over the course of a year, F-150 XL owners are paying about $29 more than Canyon owners are. That isn’t a lot of money, and on a monthly basis, it only comes out to about $2.41 more each month. 

So because of that, even though the Canyon was in first place, all five of those pickups have a very low average insurance rate when compared to other trucks or cars. However, there might be a clear winner after all.

The 2020 Chevy Colorado may be the cheapest truck to insure

While the Colorado only ended up in fourth place on Insure’s list, other sites disagree. For example, The Zebra agreed with Insure.com on the idea that pickup trucks are the cheapest cars to insure.

However, The Zebra disagreed with how cheap it was to insure the Colorado. The Zebra said that, last year, the Colorado was in first place, as it only cost around $1,100 a year on average to insure the Colorado. 

And, because the Colorado also did very well on Insure’s list of the cheapest trucks to insure, it’s safe to say that the Colorado is, generally speaking, a cheap car to insure. That being said, it’s not really a contest between the Colorado and the Canyon, as both cars are made by GM.

As a result, both trucks are very similar in many ways, and in fact, according to Insure.com, both start at the same price of about $22,000. So, regardless of which estimate is correct, the Canyon and the Colorado are probably going to be cheap to insure.