Auto insurance rates fluctuate based on a number of factors, such as good driving records and poor credit. Recent accidents can also affect your insurance premiums, and depending on the type of vehicle and who was at fault, your premiums can rise significantly.
Ram 1500 premiums are slightly lower than other popular truck brands and may vary by provider. However, if you’ve recently been at fault, you could end up with a significant price increase. Here’s everything you need to know about car insurance.
Factors Affecting Auto Insurance Premiums
Car Edge recently determined the average insurance premium for a Ram 1500 pickup truck to be $2,011 per year. That’s about $214 less than other popular brands.
A car insurance comparison analyzed the charges for a 40-year-old driver who drives approximately 13,000 miles a year, has a good credit score, and holds full insurance. Prices are based on brand new vehicles, single vehicle policy with no multiple vehicle discounts.
The price reached is the average price of a Ram 1500, but the price varies greatly depending on the age of the driver, credit score, where they live, type of vehicle and mileage each year. For example, her 40-year-old driver with poor credit can expect to pay $3,454 a year to insure the same truck.
An 18-year-old driver with good credit and a clean driving record can expect to pay $6,347 a year in premiums for a Ram 1500, while a similarly qualified 55-year-old driver will pay about $1,794.
Ram 1500 premium increase after accident at fault
If you have an accident while driving your Ram 1500 and it turns out to be your fault, the annual premium will be approximately $2,952 per year. That’s a $941 increase compared to drivers with clean driving records. His 55-year-old driver, who was involved in an accident with his Ram 1500, would see a $841 markup, bringing his annual premium to about $2,635.
Meanwhile, 18-year-old drivers involved in at-fault accidents will suffer the most, and are expected to pay about $9,320 annually. That’s about $3,000 more than someone the same age who has never been in a car accident. .
Why is the Ram 1500 a high insurance truck?
According to The Detroit Bureau, the Ram 1500 is “a favorite among auto thieves” and ranked among the top eight stolen vehicles in 2019, with a staggering 11,000 Dodge pickups stolen that year. Insurance companies take this data into account when determining rates, especially if you live in a high-crime area.
The price of the vehicle also plays an important role in the cost of your annual premium. Prices for the Ram 1500 range from $37,410 for the base Tradesman model to $84,555 for the top-of-the-line TRX edition. Usually, the more expensive the vehicle, the higher the insurance premium, because the repair or replacement of a truck after an accident is significantly more expensive than other passenger cars.
Demographic information also affects Ram 1500 premiums. Drivers who live in rural areas have lower insurance premiums than those who live in urban areas where crime is high. To get the most affordable car insurance for your Ram 1500 pickup truck, get quotes from various providers and do your best to maintain a good credit score and a clean driving record.