That new Ford F150 is going to cost you
I remember THIS thread from last month then this caught my eye on Pickuptrucks site. LINK The final outcome will be interesting.
Forum Discussion
Retired now, but when working I sent info to many insurance companies when customers purchased new trucks. I learned over the years, and many customers were VERY surprised to find out that often; their insurance never increased much when they traded a say 5 to 10 year old truck on a new one.
The insurance brokers explanation; the cost of repairing the truck is nothing compared to the medical costs if someone gets hurt!
Even a total loss of say $40 to $60,000 is small potatoes compared to hundreds of thousands of medical bills.
Since the new trucks are much more likely to protect occupants with all the extra airbags and safety features, the cost to insure new in some cases had no increase at all.
So...if these new 2015 F-series have great crash test results, the rate increase may be non-existant or minimal
Disclaimer...Canadian experience only here....
Possibly someone in the insurance business could chime in here?
The insurance brokers explanation; the cost of repairing the truck is nothing compared to the medical costs if someone gets hurt!
Even a total loss of say $40 to $60,000 is small potatoes compared to hundreds of thousands of medical bills.
Since the new trucks are much more likely to protect occupants with all the extra airbags and safety features, the cost to insure new in some cases had no increase at all.
So...if these new 2015 F-series have great crash test results, the rate increase may be non-existant or minimal
Disclaimer...Canadian experience only here....
Possibly someone in the insurance business could chime in here?
