Getting your Dodge Ram 1500 insured is an essential step to help protect yourself and your vehicle. Many states require certain levels of insurance coverage, so understanding what different insurance companies offer in regards to insurance costs can help you find the company that works best for you and your budget. Keep on reading to learn more about insuring your Dodge Ram 1500 and the average cost of covering your vehicle.
The Dodge Ram 1500
The Dodge Ram 1500 first made its debut in 1981 with the first generation of Dodge Ram 1500 trucks that replaced the previous Dodge D Series trucks. Throughout its now five generations, the Ram 1500 has established itself as a well-rounded light-duty full-size pickup truck.
With the newer generations, the Ram 1500 has undergone many body and engine updates that have resulted in a versatile truck with many trim options. Drivers can choose from several cab and bed options, as well as innovative technology and safety features that can also affect insurance premium costs. The latest 2021 Ram 1500 TRX offers a supercharged V-8 Hemi engine that can produce up to 702 horsepower, making for one powerful light-duty truck.
Why Get Your Dodge Ram 1500 Insured?
Getting your Dodge Ram 1500 insured can help you protect yourself, your truck, and other drivers or passengers in case of an accident or damage. Many states often require that drivers carry a certain level of insurance to protect themselves and others. Here are the three main types of coverage you might want for your Ram 1500 to maximize your protection on the road:
Liability coverage, also known as minimum liability coverage, helps you cover a portion of costs in case of damage or an accident. This level of insurance often has cheaper annual rates, but might result in higher out-of-pocket costs for expensive accidents or costly damage. When looking into this level of coverage, ensure you review what the insurance company covers and doesn’t cover with a minimum liability policy.
This type of coverage can help you cover the costs associated with striking other vehicles or properties. Collision coverage is helpful because it can cover costs even if the other vehicle doesn’t have collision coverage. Understanding the limitations of this coverage level can help you decide if this policy is right for you.
Many insurance companies require this level of coverage if you also purchase collision coverage because this level of insurance can help cover items not covered by collision coverage. Some items this type of policy can help pay for include storm damage, vandalism, fire, and theft. Items not covered by this insurance are often addressed with collision coverage, such as losses resulting from a collision.
Average Cost To Insure a Dodge Ram 1500
The average cost to insure a Dodge Ram 1500 differs between model years. Different generations of the Ram 1500 have different safety and security features along with varying engine options. Here is the average cost to insure different model years of the Ram 1500 for drivers in their 20s:
- 2022 Dodge Ram 1500: $3,432 annually
- 2021 Dodge Ram 1500: $3,168 annually
- 2020 Dodge Ram 1500: $3,094 annually
- 2019 Dodge Ram 1500: $3,060 annually
- 2018 Dodge Ram 1500: $2,982 annually
- 2017 Dodge Ram 1500: $2,946 annually
- 2016 Dodge Ram 1500: $2,856 annually
Age is an influencing factor when insurance companies calculate your insurance premiums. Here’s the average cost to insure different model years of the Ram 1500 for drivers in their 30s:
- 2022 Dodge Ram 1500: $1,814 annually
- 2021 Dodge Ram 1500: $1,666 annually
- 2020 Dodge Ram 1500: $1,622 annually
- 2019 Dodge Ram 1500: $1,602 annually
- 2018 Dodge Ram 1500: $1,554 annually
- 2017 Dodge Ram 1500: $1,532 annually
- 2016 Dodge Ram 1500: $1,488 annually
Affordable Insurance Options for Dodge Ram 1500 Owners
There are also many affordable insurance options for Ram 1500 owners. Insurance companies vary based on driver locations, so it’s important to research different insurance providers in your area. If you decide to insure a 2022 Ram 1500, here are some insurance rates you can expect from different providers:
- American National: $697 annually/$58 monthly
- Pekin Insurance: $893 annually/$74 monthly
- MMG Insurance Company: $918 annually/$77 monthly
- Titan Insurance: $1,252 annually/$104 monthly
If you’re looking for a larger insurance company for your insurance policy, here are some large insurance companies to consider insuring a 2019 Ram 1500:
- State Farm: $2,544 annually/$212 monthly
- GEICO: $3,264 annually/$272 monthly
- Progressive: $4,188 annually/$349 monthly
How To Save Money on Your Insurance
There are many ways to help you save on insuring your Dodge Ram 1500. Knowing about these savings tools can help you budget for your vehicle’s insurance costs. Here are some tips and ideas to consider that can help you save on your annual or monthly insurance expenses:
- Opt for key safety and security features: Many Ram 1500s come with many safety and security features, which can help you reduce your overall insurance premiums. Consulting with your insurance company to see what features can help reduce your premiums can help you select the vehicle that’s right for you.
- Maintain a clean driving record: Many insurance companies research an individual’s driving record to find information about traffic violations, tickets, or any accidents a driver has been in. Ensuring you don’t have these items on your driving record can help you get a lower premium for your insurance policy.
- Try to pay for the truck completely: Many insurance companies require a certain level of insurance for any vehicles that have a lien, such as a loan or a lease. Paying for your vehicle outright enables you to opt for smaller liability packages, which can help you save on your monthly bills.
- Boost your credit score: Your credit score is a key factor when an insurance company generates your insurance quote and rates. Having a higher credit score can help you get lower policy rates, which can help significantly reduce your annual rate.
Researching different insurance options for your Dodge Ram 1500 can help you find the provider and plan that works best for you. Knowing about different methods to help you reduce your insurance expenses can also help you get the most out of your insurance plan without stretching your wallet.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.