Compact and Midsize Pickup Insurance Rate Comparisons

How much does car insurance cost for midsize pickups? Insurance for midsize trucks like the Tacoma and Ranger costs less than full-size trucks, but which model takes home the award for lowest insurance cost?

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The success of small and midsize SUVs has brought about a resurgence in midsize trucks. Consumers who want better fuel economy and the ability to haul, but did not want the size or sticker price of a fullsize truck now have more options in midsize trucks.

The success of the Chevy Colorado and Canyon lines prodded Ford to bring back the Ranger, which had been discontinued with the 2011 model year and reintroduced in 2019. Jeep even got in on the truck action with the Gladiator, which was new for the 2020 model year.

New for the 2022 model are compact pickups like the Ford Maverick and Hyundai Santa Cruz. We combine those two models with the rest of the midsize pickups for comparison purposes. Also new is the fully-electric Rivian R1T.

Does the cost of insurance for these midsize trucks drop along with their tow capacity when compared to their fullsize big brothers? Let’s take a look at the average insurance rates for the segment.

How much does insurance cost for a midsize truck?

For the 2022 model year, the Chevrolet Colorado has the cheapest insurance cost at $1,256 per year for a policy with full physical damage coverage. On the opposite end of the spectrum, the Rivian R1T costs an average of $1,938 for an annual policy. The average cost of insurance for the entire midsize pickup segment is $1,464 per year.

This is definitely an improvement over the larger and more expensive fullsize truck class which averages $1,657 per year for full coverage. The cheapest large truck insurance costs $1,478 for the Ford F150 and goes up to $1,940 for the GMC Hummer EV Pickup. Insuring a midsize truck on average will definitely be easier on the budget.

Below is the breakdown of annual and monthly insurance rates for all the trucks in the midsize segment.

Compact/Midsize Truck Insurance Cost Comparison
Rank Make/Model Annual Cost Monthly Cost
1Chevrolet Colorado$1,256$105
2Ford Maverick$1,304$109
3Ford Ranger$1,354$113
4Toyota Tacoma$1,414$118
5Nissan Frontier$1,452$121
6Hyundai Santa Cruz$1,464$122
7GMC Canyon$1,470$123
8Honda Ridgeline$1,486$124
9Jeep Gladiator$1,498$125
10Rivian R1T$1,938$162

    Get Rates in Your AreaWhy is this important?

    Table Data Details: Average rates are based on 2022 model year, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all vehicle trim levels. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on August 18, 2022
    Compact/Midsize Truck Insurance Cost Comparison

    The Rivian R1T has the most expensive insurance in the segment, primarily due to it’s starting MSRP of $67,500. If the R1T is excluded, the range of insurance cost for the segment is just under $200.

    Since we average all trim levels for each model to achieve an average cost, it’s important to note that the actual trim level of the vehicle being insured can significantly impact cost. A high-end Chevy Colorado model can cost $1,368 per year to insure, while a base model Gladiator averages $1,406 per year. That’s only a $38 per year difference in cost.

    Which midsize pickups are cheapest to insure?

    The cheapest 2022 model year midsize truck to insure is the Chevrolet Colorado, costing $1,256 annually. For a semi-annual or 6-month policy term, expect to pay around $628. On a monthly basis, this equates to about $105 each month.

    Coming in right behind the Chevrolet Colorado are the Ford Maverick, costing $1,304 per year, and the Ford Ranger at $1,354 annually.

    For comparisons sakes, insurance rates for full-size 2022 model year pickups start with the Ford F150, costing $1,478 annually, or about $123 each month. Ranking second cheapest is the GMC Sierra at $1,552 per year or $129 per month, and the Nissan Titan at $1,610 per year or around $134 per month.

    Which midsize truck is most expensive to insure?

    The midsize truck with the most expensive insurance is the Rivian R1T, costing an estimated $1,938 per year. It will cost around $682 more on average to insure a Rivian R1T each year compared to the cheapest midsize truck to insure, the Chevrolet Colorado.

    At $1,938 a year for insurance on a 2022 Rivian R1T, that is a 24.5% premium over the $1,464 average for the midsize truck class, and 19.1% more than the national average car insurance rate (all vehicles) of $1,567.

    What is average midsize pickup truck insurance cost?

    The average insurance rate for all vehicles in the midsize truck segment is $1,464 per year. This is $103 lower (7%) than the overall all-vehicle national average insurance rate of $1,567.

    How much is midsize truck insurance per month?

    Insurance rates for the midsize truck truck segent average from $105 a month for the Chevrolet Colorado to $162 for the Rivian R1T.

    Buying a policy with lower deductibles will push up the cost, whereas drivers can save money by raising the deductibles. Our estimates use $500 deductibles to establish an average rate.

    The trim level of the truck you’re insuring also factors into the policy cost. We factor in all trim levels to achieve an estimate, so if you are insuring a Canyon Denali (top level trim), the rate is going to be higher than the overall Canyon average rate. Conversely, insuring a base level model will come in under the average estimate and have a smaller price tag.

    Is insurance cheaper on midsize trucks or fullsize trucks?

    Average annual insurance rates for the midsize truck segment are $1,464 per year, while the fullsize trucks like the F150, Silverado, and Sierra average just over $1,530 a year, making midsize trucks about $66 cheaper per year on average.

    The Toyota Tacoma (fondly referred to as a ‘taco’ among enthusiasts) is the best selling midsize truck in the U.S. It outsells the nearest competitors (Ford Ranger and Chevy Colorado) and even it’s big brother the Tundra by over a 2-to-1 margin.

    The Tacoma trucks have an excellent reputation for reliability and dependability, despite the lack of updates and powertrain options like it’s competitors. It’s a tough truck that excels off-road and maintains it’s resell value better than any other midsize truck.