Pickup trucks are still very popular with U.S. drivers, even with the onslaught of SUVs and extended mini-vans. Although most farmers and ranchers may be skeptical using an extended mini-van with stow-in-go seats (a covered pickup truck), many are using the bigger SUVs with a utility trailer to get jobs done.
There are a ton of pickups sold in the U.S. each year because the vehicle manufacturers keep making them better and better. There is still, however, a large segment of the pickup truck market that prefers the older models because they seem to last forever. Ram is one of those models that truck drivers love, old or new.
If you are in the market for a new or used Ram (and if so, congratulations) you’re probably curious just how much your new workhorse’s insurance is going to cost. Here, we’ll discuss what it should cost to insure a Ram pickup with most auto insurance companies.
What Coverages Should I Purchase?
We know that to register a vehicle and get a tag, the first thing they’re going to ask for is proof of liability insurance. Without your proof of coverage, they’ll just send you on your way. But, not everybody understands how important this coverage is. Your state will have a minimum requirement which is a good rule for protecting other drivers, but most state minimums will fall well short of providing you with financial protection if you’re in an at-fault accident.
For example, the state of Georgia requires that you care bodily injury liability coverage with minimum limits of $25,000 per person and $50,000 per accident. They also require that you carry at least $25,000 in property damage liability (25/50/25). This may sound adequate to most drivers but what happens if you are in a multi-vehicle accident and it’s your fault? Do you really believe that this amount of coverage will be sufficient to pay the injury expenses for multiple people and repair or replace multiple vehicles?
If your multi-vehicle at-fault accident sends a half of dozen people to the hospital, you’ll more than likely be getting lawsuits against you to pay for what your “minimum coverage” auto insurance didn’t pay.
So then, how much liability insurance should you carry? As much as you can afford to carry unless you happen to be judgment proof.
What Other Coverages Should I Consider?
In some cases, you may not have a choice. Some states do require that you carry uninsured/underinsured motorist and/or medical payments. Additionally, if you’re like most consumers and have to finance your Ram, your lender will require that you protect your collateral (your truck) with comprehensive and collision insurance so they will be protected if your vehicle is damaged or stolen.Here’s a list of typical coverages that all insurance companies offer and how they protect you and your new or used Ram pickup:
|Bodily Injury Liability||Pays for injuries to other drivers or passengers in an at-fault accident subject to the limits in the policy.|
|Property Damage Liability||Pays for repairs or replacement of another person's vehicle or property during an at-fault accident subject to the limits of the policy.|
|Medical Payments||Medical Payments covers medical expenses for you and other passengers in your vehicle in an accident no matter who's at fault. This coverage will even cover you for injuries sustained in another person's vehicle or as a pedestrian up to the limit in the policy.|
|Personal Injury Protection (PIP)||PIP covers the driver, all passengers, or a pedestrian involved in an accident no matter who's at fault. PIP helps pay for medical expenses, lost wages, loss of services, and funeral expenses up to the policy limits. This coverage is typically mandatory in "no-fault" states.|
|Uninsured/Underinsured Motorist||Uninsured/Underinsured motorist covers your medical expenses if the other driver (at-fault) is uninsured or underinsured. Some states also allow uninsured/underinsured property damage that covers your vehicle as well.|
|Comprehensive Coverage||Comprehensive coverage pays to repair or replace your vehicle after a non-collision event such as fire, vandalism, theft, or acts of nature subject to your deductible.|
|Collision Coverage||Collision coverage pays to repair or replace your vehicle after an accident that involves another vehicle or object subject to your deductible.
|Emergency Roadside Assistance||Roadside assistance is available if you are locked out of your vehicle or required roadside assistance like a tire change or fuel for an empty tank. Your coverage for each event is subject to the limit you purchased on your policy.|
|Rental Reimbursement||Rental reimbursement helps pay for rental expenses if you are in an at-fault accident or
hit by an uninsured driver. Most policies will have a limit per-day and per-accident.
Is a Ram a Good Choice for a Pickup Truck?
We have to assume that purchasing a Ram is a great choice because they rank in the top 10 in sales virtually every year. Nowadays, you don’t see a lot of Dodge vehicles on the road but you’ll see a ton of Rams. In fact, Ram pickup sales have been averaging right at 50,000 units per month for the first six months in 2019 so you know FIAT, Chrysler Group must be doing something right.
If you check the awards and ratings at J.D. Power, you’ll see what we mean about the Ram because the 2018 Ram won awards in the quality and dependability categories.
Consumer Reports, although a little behind in rating years reported a “reliability verdict” of 4 out of 5 for the 2012 Ram 1500.
Additionally, Ram received some good ratings from the Insurance Institute for Highway Safety (IIHS) as well. The Ram 1500 received a “G” rating (top rating) for the following safety tests: Moderate Overlap Front, Side, and Head Restraints and Seats.
And finally, and just as important, the data from Kelly Blue Book indicates that the Ram Pickup does a very good job retaining its value over time.
Ram Models to Choose From
Like other vehicle manufacturers, Ram offers several models according to GVW (gross vehicle weight).
- Ram 1500 – ¼ Ton
- Ram 2500 – ½ Ton
- Ram 3500 – 1 Ton
Although each model looks similar, each is typically chosen for a specific purpose that requires a certain GVW. The 1500 is the largest selling of the group because it fits into many categories. Each model offers several sub-models depending on the cab size.
What Should It Cost to Insure a Ram Pickup?
The cost of insuring a Ram Pickup is going to depend on many underwriting factors, the model you choose, and the coverages you’d like to carry, and the discounts that your policy will qualify for.
To get the best rates combined with the best coverage, Ram owners should contact an experienced and reputable insurance agent or broker and get a free and confidential quote. You can get instant quotes online as well but remember that your quote will have to be finalized by the agent or broker after they’ve received your motor vehicle report, claims information (CLUE report), and insurance score.