How to Save on Dodge Ram Insurance

Dodge Ram Insurance May Not Cover the Full Value Unless a Little Research is Done Before the Purchase

The thrill of owning a new vehicle can be overshadowed by the yearly cost of operating that vehicle especially if you purchase a Dodge Ram truck and don’t do a little research on Dodge Ram GAP Insurance before you take your new ride off the car lot.

Most new car buyers understand that a new Dodge Ram truck depreciates substantially as soon as it leaves the dealership due to the mark-up as well as additional add-ons that impact the cost of the truck, but they fail to realize that typical insurance coverage may not cover the total amount paid for the Dodge Ram at the dealership.

A Guaranteed Auto Protection Insurance (GAP) policy protects your investment because it pays the difference between what you paid for the truck and what the truck is actually worth according to established car value guides. When you drive a new Ram off the lot the market value of the Ram may plummet by twenty percent or more. A typical Dodge Ram insurance policy will only cover the market value not the full purchase price. You are responsible for the difference.

The most effective way to get the best coverage on a new or used Dodge Ram is to shop around before you purchase insurance. Get GAP rates as well as typical insurance coverage rates from different insurance companies. You may want to ask the dealer for the best quote on Dodge Ram GAP insurance. In order to get an accurate quote you need to know:

• The true value of the Dodge Ram truck
• How much is owed on the Dodge Ram model without interest
• Name of the lending institution holding the note
• The name of the current insurance carrier if there is one

Several Factors Influence Dodge Ram Insurance Rates

GAP insurance is just one factor to consider when you decide to purchase a new or used Dodge Ram model. There are other factors that have a big impact on the cost of typical Dodge Ram insurance so Internet research as well as word-of-mouth interaction with other Ram owners can help keep the cost of Dodge Ram insurance down. Some of the factors that increase Dodge Ram insurance rates are:

• The top of line Dodge Ram model with all the amenities will cost the most to insure especially if it is new.
• If the truck has been damaged in any way and that damage interferes with the safety of the vehicle the Dodge Ram insurance premiums are higher. A truck with a salvaged title is hard to insure. Insurance is available but it’s expensive.
• If you have been in one or more accidents or have received driving citations or points on your driving record expect to pay more for Dodge Ram insurance.
• If you have children on the insurance plan under the age of twenty-five the yearly premiums will be more.
• A low credit score will impact your insurance cost and living in a region of the country with high insurance rates will increase Dodge Ram insurance premiums.
• Vehicle theft does impact insurance rates on some models. The Dodge Ram pickup is on the list of the most stolen autos so premiums on this model as well as other Ram models may be higher.

There are factors than will decrease Dodge Ram insurance rates and they are:

• Older Dodge Ram models are worth less and are usually cheaper to insure.
• Airbags, anti-theft devices, and other safety features will decrease yearly Dodge Ram insurance premiums.
• A clean driving record reduces insurance premiums on all Dodge Ram models.
• A higher deductible amount reduces yearly premiums.
• A short commute will reduce weekly miles and that can reduce Dodge Ram insurance.

Gas Consumption and Dodge Ram Insurance

It’s no secret that some Ram models don’t get the best gas mileage, but that doesn’t mean that Dodge Ram insurance will cost more. The yearly cost of operating a Dodge Ram may be more expensive than another make and model, but the insurance costs are not affected by an older gas guzzling model unless there are safety issues or other factors that impact Dodge Ram insurance rates.