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Those drivers who own trucks love the versatility and toughness of their rides, and most have a fierce loyalty to one brand or another. The Dodge Ram 1500 and the Chevy Silverado are both popular pickups that are driven in every corner of the United States.
Comparing the auto insurance of two different trucks requires looking at many different factors. Even with a look at all the differences and similarities between the two trucks, there is still only one way to know exactly how much insurance for either vehicle will cost you.
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The Dodge Ram 1500 has been a mainstay in the truck world for many years now, offering a lot of truck for your dollar and a wide array of choices.
Currently, there are 10 different trim levels for the Ram 1500, from the basic Ram ST to the fully loaded Ram Limited, according to Dodge’s truck website.
The base model starts at $22,120 with a single cab. Base models are rear-wheel drive, while higher models are 4-wheel drive.
An array of cab and truck bed options make for a dizzying number of combinations. With a full package, the top of the line Ram 1500 can easily exceed $50,000.
All models have a 4.7-liter V8 engine, but only the higher models have the coveted HEMI engine that is 5.7 liters. All models average around 13 mpg in the city and 19 mpg on the highway.
Chevy is one of the most beloved manufacturers of American vehicles, and the Silverado is no exception.
There are five different body styles and many different trim levels available for each body style, with a choice between rear-wheel drive and 4-wheel drive for a bit more cost-wise.
The base model Silverado starts at $22,595 and the fully loaded 4WD Crew Cab Short Box Silverado LTZ starts at $42,440. There is even a hybrid model available.
Standard Silverado trucks come with a V6 engine that offers 195 horsepower. The base model gets 15 mpg in the city, and 20 mpg on the highway.
Higher models have a larger V8 engine that puts out 305 horsepower. All that power uses a lot more gas, so the V8 models get 13 mpg during city driving and 18 mpg on the highway.
Trucks are treated a little rougher than the family car since many owners use them as working vehicles. Trucks can haul, tow and off-road until the cows come home. Many drivers also use them for towing a boat, horse trailer or RV.
Because trucks are so versatile, nothing short of full coverage is recommendable for any newer model pickup. You should choose liability limits well over your state’s minimums, as trucks can do a lot of costly damage to other smaller vehicles in an accident.
If you are at fault in an accident, your truck will likely have some damage; but you can easily wreck a smaller car. You and your insurance are liable for this cost if you were the cause of the accident.
Similarly, you will also want collision and comprehensive coverage. Collision coverage will make sure that your Ram or Silverado will be in tip-top shape no matter who was at fault.
Comprehensive will cover you if you have a mishap while towing or hauling. Whether a requirement of your state or an option, personal injury protection and uninsured/underinsured motorist coverage are both coverage types you should consider.
Unless you belong to an auto club, you should also opt for towing. Rental vehicle reimbursement is a must if you need your truck for work.
Another insurance consideration for your new Silverado or Ram is general asset protection (GAP) insurance, which pays the difference between what you paid for the vehicle and the fair market value of the vehicle.
Safety is paramount when it comes to insurance rates, which is especially true of pickup trucks. Trucks are considered less safe than sedans since a higher center of gravity that makes them more likely to rollover.
Trucks generally have higher insurance costs than sedans and minivans.
Neither the Ram nor the Silverado was one of the Insurance Institute for Highways Safety’s Top Safety Picks for 2012. In order to earn a Top Safety Pick, a vehicle must earn a good rating in all four crash tests conducted by the Institute. The test results are rated as good, acceptable, marginal, or poor.
In order to earn a Top Safety Pick, a vehicle must earn a good rating in all four crash tests conducted by the Institute. The test results are rated as good, acceptable, marginal or poor.
The Ram Crew Cab earned a rating of good for both front crash testing and rear crash protection from the headrests, but only a marginal rating for side-impact testing and roof strength testing.
Both indicated some degree of driver or passenger injury as a result of the tests.
The Chevy Silverado Crew Cab had similar ratings. It received a good rating for frontal testing and acceptable ratings for rear crash protection from the headrests and side-impact testing.
However, the Silverado received a marginal rating for roof strength testing. The IIHS claims this test indicates the strength and integrity of the truck’s roof during a rollover.
Due to marginal ratings from crash testing, the insurance costs for both models will likely be higher than for other pickup trucks in the same class.
For instance, both the Ram and the Silverado’s roofs caved in much easier than other vehicles; each required about 9,000 fewer pounds of force to cave in than was required to cave in the roof of the Top Safety Pick winner.
Insurance providers will view the low ratings as a higher risk for injury in an accident, which will lead to more expensive claims. Thus, insurance companies will likely charge higher auto insurance rates for both the Silverado and the Ram 1500.
While automobile theft rates have been declining year after year, you will likely experience some higher insurance rates if your vehicle is at the top of any most stolen vehicle list.
Every year the National Insurance Crime Bureau (NICB) releases its Hot Wheels list, tracking the most stolen vehicles in the country. These statistics are based purely on overall theft numbers, so vehicles that are more common are more likely to be on the list.
The NICB’s most stolen lists seem to be littered with the inventory of a used car lot. Older vehicles are easier to steal and easier to get the parts to aftermarket dealers.
While it doesn’t specify a model, the 2004 Dodge full-size pickup (i.e. the Ram) is #8 on the list, which doesn’t bode well for the insurance rates for this vehicle.
Another most stolen list is also released by the Highway Loss Data Institute.These theft rates are based on the theft rate per every 1,000 vehicles of that model sold in the U.S., revealing which newer models are a target for theft.
The Silverado crew cab has the third highest claim rates for theft. The Silverado has been reported stolen at a rate of 9.2 vehicles for every 1,000 models sold. This will also increase the insurance rates for all Silverado trucks.
While safety and theft rates are important, they are not the only factors that go into calculating a car insurance premium. There is an array of factors that are used, and some are within a driver’s control and others are not.
For instance, the biggest factor is probably a driver’s history. A driver with a clean record will likely find cheaper sports car insurance than a driver with many crashes and tickets can find with a high safety-rated minivan.
Driving history can’t be overcome by vehicle safety or theft rates, for either good or bad, however, such factors still come into play.
A driver’s credit is another factor that many insurers use to varying degrees. The use of credit to calculate rates is banned or limited in some states, but a good credit history is essential beyond just affecting auto insurance rates.
Other factors such as your gender and where you live are other factors used that are just out of your control. If you live in an urban area, expect those high theft rates to affect your insurance rates more than if you lived in a rural area.
Every driver will have different car insurance costs based on factors such as driving history, the region of the country that is called home and how much coverage is purchased.
For 100/300 liability insurance, uninsured/underinsured motorist coverage and collision and comprehensive with a $500 deductible, the national average insurance premium for the Chevy Silverado ranges from $1,125 to $1,416, depending upon the trim level.
For the same coverage, insurance premiums for the Dodge Ram range from $1,354 to $1,394, again depending upon the trim level, according to MSN Money.
The only sure way to know how much any insurance company will charge you for insurance on any make and model vehicle is to get a quote for coverage.
Quotes require nothing more than a small amount of time and effort to get; then you will know your exact car insurance rates for any vehicle.
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