Is it cheaper to insure a Ford or Chevy truck?

Depending on what model of Ford or Chevy truck you own, the difference in cost to insure can vary a great deal. For the most common models, however, the Ford is much cheaper to insure even though the total cost of ownership is only a few hundred dollars apart. If not for the cost of insurance, the Chevy would be the cheapest of the two, but the difference in cost insure is nearly $2000.

Over a 5 year period of ownership, the Chevy will have a total insurance cost of around $12,216, or somewhere near $2440 per year. By comparison, the Ford costs about $2120 per year, with a total insurance average cost of $10,600. This is very close to the final total cost to own difference, with the Chevy totaling $53,627 and the Ford coming out at $54,471.

With two very similar vehicles, the difference in cost to insure is usually because of a difference in safety devices, or a particular hazard attributed to the more expensive vehicle. For example, air bags in one and not the other could be the cause of insurance being a little cheaper on a yearly basis rather than any large risk of owning the more expensive vehicle.

Another thing that you remember is that your own cost for insurance is going to vary considerably from the comparison costs given here. Cost listed here are priced for the optimum driver with a fantastic driving and credit history, and does not take into account such variables as the person's marital status or the Zip Code they live in. Since there are quite a few factors used to determine the actual owner's cost of insurance, the numbers used here should be considered approximations and not the actual cost you will pay.

The cost to own a Ford Truck versus a Chevy truck amounts to only a few thousand dollars in difference over a 5 year period. From the base price to maintenance, and fuel usage, the Chevy truck edges out over Ford in every category, with the single exception of having lower estimated insurance costs. Even though a Ford is slightly more expensive to buy, a Chevy truck is considered less risky to operate.

Insurance for the two vehicles is nearly the same, although Ford gets slightly higher highway safety scores and lower corresponding costs. Where insurance is a primary factor, the Ford will average about $2440 a year, for a total of around $12,216 over a 5 year ownership period. The Chevy, on the other hand, averages near $2743 a year, with an estimated year total around $13,297, for a total difference over 5 years of just over $1000.

The insurance cost estimates for vehicles are based on a driver with a safe driving record, and a credit score of higher than 650. The costs will vary somewhat for every driver, based on things such as their age, gender, and occupation. The figures used here are for comparison purposes, and will not reflect people's personal demographics. In most cases, you can expect to pay slightly more, but your premiums can be lowered by taking advantage of any discounts available to you.

Unless you are determined to go with the vehicle with the cheapest insurance, the total difference in cost between a Chevy and a Ford is too close to call. Where the engine size, body size and compartment area are all basically the same, the final choice is going to come down to personal preference, and whether a particular dealer is offering incentives to buyers.

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