How Much Will My Insurance Go Up If I Trade In My Car For A Pickup Truck?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Every vehicle insured as a private passenger vehicle has a symbol. That symbol represents the insurance company’s experience with similar vehicles. The symbol represents the average costs of repairs that type of vehicle during a specified period of time. The symbol is closely linked to the cost of the vehicle but can be altered if the vehicle is difficult to repair or has an unusual frequency of incidents.
    Answered on February 23, 2015
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  2. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    It is possible that your premium may increase by making such a change, but it could be the result of any number of different factors. For example, some companies will surcharge the liability portion of their personal auto policies if a pickup or SUV is insured. The reasoning behind this is that heavier vehicles can cause more property damage and injury than can a lighter car. It is also possible that the truck is newer and has more value than your previous car and this can result in a bit higher premium for Collision and Comprehensive coverage. Talk to your Insurance Professional about the specifics of your policy.
    Answered on February 26, 2015
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