Insurance Premium Question...

[gsbrockman]

For those of you that previously owned a 3rd GEN and either have taken delivery of or have on order a 6. 7L 350/650, what insurance premium increases, if any, did you experience ? List what you had and what you now have.



I recently sold my 2003 Dodge RAM 2500 4x4 SWB SLT Crew Cab Sport w/305*555 and NV5600. My semi-annual premium was $583. 83.



I have on order a 2007. 5 Dodge RAM 3500 4x4 MegaCab Laramie SRW w/350*650 and 6-speed auto. My semi-annual premium will be $678. 76..... a whopping $94. 93 increase/6 months. Any true possibility that insurance may be a tad cheaper on a 3500 vs a 2500 ?



I'm 42 with a great driving record..... I'm with State Farm also.



Greg

 

[seemore]

My State Farm agent told me a 3500 was MORE expensive to insure. Or at least for me in Ohio. And he was right, I don't remember how much more it was, but it was more!

 

[JVantreese]

Your cost for an 07 will be more then your 03. The comp and collision portion of your policy will pay you the actual cash value of the truck at time of a covered loss. Your 03's value is less then the 07's and hence the lower premium for the older truck. Most companies will also factor in a repair cost factor for each vehical. Two vehicals that cost the same might have different cost for common partial losses. IE vehical one front bumper might cost 1000. to replace while vehical two might cost 2000.



Most companies will cover a 1/2, 3/4, or 1 ton pickup under the "Family Auto Policy" and will vary the premium based on value of the vehical and not the load capacity. Some carriors will only provide coverage for 1/2 and 3/4 ton pickups on the family auto policy. This then requires a commercial policy for the 1 ton and that will cost you more. If any weight truck is used for a commerical use, then most carriors will require you to go with a commerical policy. Farm use is usually an exception to the commerical auto policy requirement.



Don't forget to discuss your mods with your agent when they are added to you truck. Any after market items should be disclosed to your carrior if you want their value covered by your policy.