12 Benefits of Buying Light Truck Insurance

12 Benefits of Buying Light Truck Insurance

If you drive a pickup truck, you probably know how much it costs to buy and maintain such a vehicle. So, you also understand the need for good insurance. The last thing you want is to get into an accident and not be properly insured.

Unfortunately, one of the most common problems with pickups is that their owners don’t buy enough insurance. This results in financial disaster when the worst happens.

To help you make sure your investment is well protected, here are 12 reasons to purchase light truck insurance . It could save you lots of hassle and money down the line.

1. Coverage for more than your vehicle.

One of the most common missteps pickup owners make is thinking that they only need enough insurance to cover their vehicle. Unfortunately, this isn’t always the case. In fact, many people aren’t aware that when there’s a loss involving an uninsured or underinsured motorist, if you have collision coverage on your pickup truck, you can be reimbursed for damage caused to your vehicle by an uninsured driver.

2. Liability coverage protects you financially.

Even if it’s included in your car insurance policy, understand that liability only comes into play if the other driver is actually at fault in the accident. For example, let’s say someone hits you when they run a red light. Even though you have liability coverage, this doesn’t protect you from being stuck with the cost of damages and injuries.

3. Comprehensive coverage is better than collision.

Collision covers your vehicle for impacts that occur as a result of collisions with other objects like trees, poles and even other cars. However, if someone hits you and drives away, your collision coverage won’t kick in. Comprehensive , on the other hand, is useful in such circumstances because it covers damage to your vehicle that’s not a result of a collision with another object.

4. You may be able to get personal property coverage.

Your homeowners or renters policy typically includes $1,000 worth of personal property protection. However, this amount can be rather low considering the cost of today’s electronics and other items. Personal articles coverage would make up the difference between what your policy covers and the replacement costs of your valuables.

5. Liability coverage can protect you outside of your vehicle.

No matter how big your truck is, if you put others in danger while driving, you could be held liable for damages they incur. Personal liability coverage is available with most car insurance policies, but it’s usually capped at $300,000. If you have more assets to protect or if your occupation puts you in contact with people on a regular basis, consider increasing this amount of protection to make sure you’re properly covered.

6. Your insurance record is partially based on your state’s regulations.

One of the determinants that goes into figuring out how much you pay for insurance is your driving record, which is why it’s smart to keep things clean if you want lower premiums . Light truck insurance rates can vary significantly depending on where you live. For example, in California, it’s typical to pay about 20% more for policies covering pickups than the national norm.

7. Insurance is mandatory when you register your vehicle with your state.

Dealerships may try to sell you additional coverage when they only need to make sure you purchase basic insurance to get your truck on the road. If you don’t, your registration may be suspended.

8. Your insurance policy may require higher deductibles than those on your other policies.

If you’re shopping for light truck insurance and comparing rates, determine what the deductible is for each type of coverage as well as the premium . Some car insurance companies offer lower rates if the deductible is higher, but this may not always be the case. Also, understand that if you finance your truck, chances are your lender will require proof of comprehensive coverage to protect against loss or damage to its collateral.

9. You’ll need to meet certain conditions.

Most insurance companies won’t write a policy for pickup trucks worth more than $55,000, but this amount may be different depending on the company. Also, if you own multiple vehicles, insurance companies place more value on your truck than they do for cars that are covered by the same policy.

10. Your credit history matters.

Insurers often use an individual’s credit score to determine his or her eligibility for light truck insurance, according to the Insurance Information Institute . However, you’re not necessarily out of luck if your credit score is low. Agents may be able to offer an option for you to pay via installment if they think you’ll meet your payment obligations.

11. You’ll need extra protection if there are several drivers on your policy.

If more than one driver is on your policy, you should expect that each one will need an SR-22 filing if he or she has a poor driving record. If you don’t have other drivers on your policy, this may not be necessary.

12. You’ll require extra coverage if you own expensive items for your truck .

Most insurers offer significant discounts to policyholders who choose comprehensive coverage with their truck insurance. This applies if you store items in your truck or if they’re attached to the outside of it, such as a bike rack .

Why Do I Need It?

If you drive a light truck, you can file an auto insurance policy with your state’s Department of Motor Vehicles . The cost is affordable if you’re responsible enough to keep it off of the road when your vehicle is parked.

What Is Covered Under Light Truck Insurance?

By law, insurers are required to include personal property coverage with light truck insurance. This means your insurance will cover the cost of replacing items that are stolen from your vehicle if you have comprehensive coverage .

Are there any discounts available?

Most insurers offer significant discounts for policyholders who choose comprehensive coverage. For example, many companies will provide a discount if you have both comprehensive and collision coverage.

What Is Covered Under Light Truck Insurance?

By law, insurers are required to include personal property coverage with light truck insurance. This means your insurance will cover the cost of replacing items that are stolen from your vehicle if you have comprehensive coverage .

By And Large

We hope that this list of benefits has helped you to see the value in purchasing light truck insurance. It’s not just about protecting your vehicle, but also yourself and others on the road with you. If there is anything else we can help you with or if any questions come up throughout the process, please don’t hesitate to reach out!

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