Pickup Truck Insurance

Ontario Pickup Truck Insurance That Protects Your Personal Vehicle

If you’re a pickup truck owner in Ontario, then your vehicle is your baby. We get it. A pickup truck isn’t just a means of getting from point A to point B. It’s a lifestyle. From cruising through the Ontario countryside to loading up your vehicle with kids, dogs and camping gear, there’s not much that you can’t do in a pickup truck.

Since your pickup truck is such an integral part of your lifestyle, and is a significant asset, it’s all the more important to ensure it’s properly protected with the right pickup truck insurance. While it’s mandatory in Ontario to have car insurance of some level, there are different tiers for your personal auto policy that can provide more protection than others. It’s important to know what the different levels of auto insurance can do for your pickup truck. After all, you’ll want to be sure it’s properly looked after and that you’re financially protected in the event of an accident.

Pickup truck insurance protects your truck in the same way auto insurance protects a car. Ontario pickup truck insurance is purchased to cover you and others in the event of an accident. Personal truck coverage must include liability, accident benefits, direct compensation property damage, and uninsured automobile coverages. You have the option to increase limits and include additional coverages on your insurance policy to ensure you and your truck are covered.

What is Personal Pickup Truck Insurance in Ontario?

Personal truck insurance is coverage for pickup trucks used for personal use. Pickup truck insurance, just like personal auto insurance, provides financial protection against physical damage, bodily injury, and liability should you suffer from a loss to your truck. There are additional coverages available to you such as increased liability, collision and comprehensive coverage, accident forgiveness, roadside assistance, and rental car coverage.

It’s important to note that personal pickup truck insurance is different from insuring a commercial vehicle. If you have questions about commercial auto insurance, be sure to speak with one of our licensed brokers today.

Who Needs Pickup Truck Insurance?

All vehicle types are legally required to have automotive insurance in Ontario. So it follows that everyone who owns a truck needs to have pickup truck insurance. With pickup truck popularity surging in 2020 and 2021, pickup truck insurance is increasing quickly as well. Did you know that out of every four vehicles sold in Canada during the first quarter of 2021, one was a pickup truck (24.6% to be exact)? If you have personal-use pickup trucks, the question isn’t why you need a pickup truck insurance policy, it’s what type of policy is best suited for your needs. Having insurance on your truck can help save you from paying expenses out-of-pocket in the event of a loss or accident.

Insurance brokers will guide you through the process of getting auto insurance to protect your lifestyle, and to save you the financial difficulty of paying for repairs out-of-pocket. Discuss your needs with your dedicated Morison Insurance broker. They will help you find the best insurance providers in Canada. Our insurance brokers work with several insurance companies, so we’re able to provide you with many pickup truck insurance quotes. That way, you can choose the coverage that best meets your needs and your budget.

Is Pickup Truck Insurance Coverage Mandatory?

Pickup truck insurance is mandatory in Ontario. Mandatory coverages include third-party liability, direct compensation property damage coverage, accident benefits, and uninsured motorist coverage (you can read more about these different coverages below). Driving without insurance on your vehicle may cost you up to $50,000 in fines, and result in license suspensions and vehicle impoundment. It’s simply not worth the risk to drive without insurance. Particularly as every time you’re on the road, you are also responsible for the safety of those sharing the road—including other drivers and pedestrians.

The Insurance Bureau of Canada has more details on mandatory auto insurance coverages in Ontario.

How Does Pickup Truck Insurance Work?

Pickup truck insurance protects you and your truck financially. It provides liability coverage, accident benefits coverage and direct compensation property damage coverage and uninsured automobile coverage if you’re involved in an accident. There are options to increase coverages and purchase additional optional coverages. Without pickup truck insurance, you may be fined, or your pick-up truck may be impounded for not having insurance.

What Does Pickup Truck Insurance Cover?

Pickup truck insurance provides liability coverage for property damage and bodily injury, accident benefits for items such as medical expenses and lost wages as a result of a car accident, collision protection, and comprehensive coverage insuring your truck from losses such as fire, theft, vandalism and broken windshields.

It’s important to know that when you make a claim after an accident, if you are responsible for the accident then you are also responsible for the deductible. However, If you are not responsible for the accident, your deductible is waived. The types of coverage that are offered in an auto insurance policy typically include:

Comprehensive Coverage

One of the most important types of insurance you can have for your pickup truck is comprehensive insurance. This type of coverage protects your truck from damages that are not caused by a collision. For instance, this could include damage caused by weather events such as a flood, wind or hail. It also provides coverage for accidents and emergencies like a fire. Lastly, comprehensive coverage will protect your truck from damage caused by hitting objects, like a post or tree, or animals. Since there are many perils that can cause damage to your vehicle aside from other drivers, it’s integral to have this type of insurance. Ask your insurance company about comprehensive coverage today, and how adding it to your policy will affect your annual premium.

Collision Coverage

As implied by the name, collision coverage provides financial remuneration if you are involved in an accident—no matter who is at fault. This is an important distinction, as some basic pickup truck insurance plans in Ontario only provide financial remuneration if you are not at fault. Even if you have a clean driving record, there is always a risk that you could wind up in an accident. Even something as simple as backing out of a parking stall could result in an at-fault collision. No matter how experienced a driver you are, protect yourself with collision coverage.

Third-Party Liability Insurance Coverage

Third-party liability coverage, also called bodily injury liability, covers you in the event you are sued for a vehicle incident. For instance, say you rear-end another driver and they claim to have experienced whiplash. They may have grounds to take you to court and sue you. That means that you could be liable for legal fees and medical costs depending on the nature of the settlement. Without insurance, you’d be forced to pay for these expenses out-of-pocket. Legal fees and medical expenses can really add up, so it’s best to protect yourself with bodily injury liability. It is strongly recommended that you have at least $2 million in liability coverage.

Direct Compensation Property Damage Coverage

Direct compensation property damage coverage is a type of physical damage insurance. It covers the damage to your vehicle, contents, and loss of use if someone else is at fault for an accident. Keep in mind that this coverage does not extend to you if you’re found at-fault for the accident. It’s very important to have direct compensation property damage coverage to protect the value of your vehicle and any important assets that are inside. This could include anything from tools to your laptop—say if you’re transporting it to and from work. Not to mention, the repairs on many pickup trucks can be quite costly. Finally, loss of use will help offset the costs of not being able to drive your vehicle while it’s being repaired. Usually, this takes the form of paying for a rental truck up to the policy’s limit.

Accident Benefits Coverage

Accident benefits coverage (also known as bodily injury insurance) protects you if you are injured in an accident. It includes benefits not covered by OHIP (Ontario Health Insurance Plan), such as caregiving and rehabilitation. For instance, if you’re seriously injured and need to see a specialist at a private clinic, accident benefits coverage can help off-set this cost. Likewise, it can contribute to physiotherapy costs—which are not always covered under health insurance plans. It can also help cover the cost of medical supplies and equipment needed during your recovery, such as crutches. An added bonus of accident benefits coverage is that it also helps cover the costs of lost wages during your recovery.

Uninsured Motorist Coverage

Uninsured automobile coverage responds if you or your family are injured or killed by a motorist who is uninsured or involved in a hit-and-run accident. It includes coverage to your automobile caused by an uninsured identified driver. It’s very important to have uninsured motorist coverage because you never know who else is out on the road. While car insurance is required no matter what type of vehicle is being driven, there are some drivers out there who are willing to take the risk and avoid paying for insurance. It’s not fair that you should have to pay for their lack of responsibility. Thus, uninsured motorist coverage is a must.

What Does Pickup Truck Insurance Not Cover?

As extensive as your Ontario pickup truck insurance policy can be, there are a few exclusions that drivers should know about. An expert pickup truck insurance provider will ensure that you and your truck are properly protected in the event of a claim.

Pickup truck insurance does not cover:

• Fraudulent claims. Any criminal activity will not be covered by your insurance provider, including fraudulent claims or intentional damage caused to your vehicle by someone listed on the insurance policy. Insurers are in the business of protecting you from unforeseen events and accidents, so naturally, any intentional damage or fraudulent claims will not be tolerated.
• Condition breaches. It’s important to read your policy carefully with your Morison Insurance broker. If your pickup truck is damaged while engaging in activities that are in violation of your policy conditions, you will not be able to make an insurance claim. This can include participating in illegal activities like street racing or illicit trade or transportation
• Using your personal vehicle for commercial purposes. If you operate a business from home and use your truck for said business, such as working as a handyman or contractor, then you need to disclose this to your insurance provider. Commercial pickup trucks need to be insured differently than those that are only used for personal purposes. The reason for this is that a commercial driver is exposed to different risks than a personal driver.
• A collision that was caused by something specifically listed as an exclusion on your policy. Again, it’s integral that you are familiar with your unique insurance policy. Different auto insurance companies will have different exclusions included in your policy. You won’t be able to make a claim for anything that’s not included as a named peril.
• Allowing an excluded driver to drive your pickup truck. Many drivers share a vehicle with others. Perhaps your teenager is learning to drive and you added him or her to the policy. Or maybe you’re a one-vehicle household. Be sure to let your insurance agents know who else is allowed to drive your vehicle—and who is not. Any excluded drivers will not be covered by your pickup truck insurance policy.
• Any additional accessories or modifications to the vehicle that are not stock and were not disclosed on the application. As time goes on you may want to make modifications or add luxury features to your truck. This is absolutely fine, as long as you let your insurance broker know. Certain modifications may increase the value of your truck, in turn, increasing the cost of pickup truck insurance.

What Additional Coverage Options Are Available to Me?

One of the best aspects of working with an insurance broker is that he or she will be able to let you know about add-ons and endorsements that will give you even better coverage than a standard pickup truck insurance policy. There are many types of coverage available to you. Some of these additional coverage options could include:

Claims Forgiveness / Accident Forgiveness

This add-on protects you from insurance rate increases if you get into an at-fault accident. Generally, your insurance rating is lowered after being in a collision. This typically causes your premium to increase. However, with accident forgiveness added to your policy, your insurance company will “forgive” you for the first at-fault accident you are involved in. This means you will also not be charged a higher premium because of the accident when your policy renews.

Minor Conviction Protection

If you are involved in a minor driving infraction, otherwise known as a minor conviction, this endorsement will protect you from insurance rate increases. Some of these minor convictions could include speeding, not wearing a seat belt, improper turning, headlight offences and failure to signal. Essentially, anything that could land you a ticket but that doesn’t bring you to court—unlike major offences such as drunk driving. Even these minor infractions can cause your insurance rates to change. However, with this add-on you won’t have to sweat the small stuff—although that’s not an excuse for unsafe driving.

Limited Waiver of Depreciation

Depreciation impacts how much you’re able to claim to repair or replace a damaged vehicle. Even brand-new vehicles depreciate quickly, and there is a chance you may not get the amount back that you paid for your new car when it comes to finding a replacement. However, this particular endorsement will limit the depreciation charged on your car for the first 24 to 36 months that you own it (depending on the insurance company). This can be particularly useful if you have an expensive truck. Essentially, if your truck is stolen or written off in a collision, you will get what you paid for the car in the claim settlement—rather than the actual value of the car.

Loss of Use

While loss of use may be included in some standard pickup truck insurance policies, this is not always the case. This add-on covers your transportation costs if your truck is stolen or damaged in a collision. It will cover costs like renting a truck or taking the bus, taxi or Uber to and from work. Keep in mind that these expenses will only be covered up to the maximum amount outlined in your policy until your truck is repaired or replaced.

Legal Liability for Damage to Non-Owned Vehicles

This add-on covers any damage you may cause to a truck you don’t own while it’s under your care or control. An example of this would be a rental truck. If you tend to rent trucks when you travel then this endorsement may be worthwhile.

What is the Difference Between Pickup Truck Insurance and Car Insurance?

There is no difference between pickup truck insurance and car insurance. Personal trucks, no matter what type of truck from full-size and midsize trucks to compact pickup trucks, are considered “cars” and fall under auto/car insurance. This means that personal-use pickup trucks do not require a different or additional insurance product than other types of vehicles. There is, however, an incredibly important aspect of pickup truck insurance to understand in the Ontario insurance industry. As we’ve mentioned earlier, there is a difference between personal-use and commercial-use insurance. Your personal truck insurance policy does not cover your vehicle for business use. Thus, if you use your vehicle for business purposes it’s essential that you tell your insurance broker right away.

How Much Does Personal-Use Pickup Truck Insurance Cost in Ontario?

If you’re thinking about buying a new vehicle and becoming a pickup truck driver, then you may be wondering how much insurance will cost. The average cost of insurance for pickup trucks is between $1,200 and $4,000 per year. There are many factors that determine the cost of your vehicle’s insurance premium including:

• The year/vehicle’s age
• Make and model of your truck
• Your driving record
• Insurance history
• Where you drive
• How much you drive
• The coverages and limits you select in your insurance policy

A Morison Insurance broker will review your situation with you, answer any questions you have, and get you several competitive pickup truck insurance quotes based on the information you provide. This gives you options regarding coverages and prices so that you can choose the best insurance policy for your needs. A top-rated insurance brokerage will also ensure that you receive all of the car insurance discounts that you qualify for.

Does Pickup Truck Insurance Cost More Than Car Insurance?

Surprisingly, pickup truck insurance premiums can be lower than other vehicles—depending on the make and model of your truck. Often, drivers think that insurance costs can be more expensive for more expensive vehicles. However, this is not always the case. Newer trucks have improved safety features and are much safer to drive than smaller, older vehicles. This means that your chances of being injured in an accident are lowered, which in turn lowers your insurance premiums.

What is important to note is that newer trucks cost more to purchase and repair—however, these costs make up a smaller part of your insurance premiums than the costs associated with recovering from an injury. Whether referring to full-size pickup, midsize pickup or compact pickup trucks, today’s trucks are not a standard cab with a flatbed. Trucks are much more luxurious than those of years ago. Whether you’re driving a Ford F-Series, GMC Sierra, Ram pickup, General Motors, Chevrolet, Toyota, Honda, or Nissan, trucks come with additional cabin space, extra windows, and doors, upholstery upgrades, lots of electronics, and advanced safety features. These features can make the cost of repairs expensive, even though they help reduce your risk of an injury.

What Are My Discount Options?

Different insurance companies offer different discounts. However, it’s helpful to know more about what discounts are available to you. We’ve outlined a few of the most common discounts below—however, it’s always best to speak to your dedicated Morison Insurance broker to learn more.

• Multi-vehicle discount. Does your household have more than one vehicle? Then you may be eligible for a multi-vehicle discount. Talk to your Morison Insurance broker today about what he or she can do for you if you insure multiple vehicles with the same insurer.
• Claims-free discount. Have you never made an insurance claim? Many insurance agencies offer claims-free discounts for drivers who have never had to use their insurance. If that sounds like you, ask your Morison Insurance broker about claims-free discounts today.
• Safe driver discount. Whether you take advantage of your vehicle’s advanced safety systems or are a tried-and-true safe driver, there may be discounts available to you from your insurer. Often, drivers that have not been in any accidents have no tickets or driving infractions and are proven to be safe drivers are eligible for discounts. Naturally, the more driving experience you have, it’s likely the better driver you will be.
• Bundled home and auto insurance discounts. Did you know that by bundling your home and auto insurance, you can save on your annual premium? This is a great way to cut costs while still having the best insurance for your needs. If you haven’t bundled your home and auto insurance, get a jump on it as soon as possible.

Where Can I Buy Insurance For My Pickup Truck?

You can buy pickup truck insurance from Morison Insurance, a top-rated insurance brokerage working with dozens of insurance companies. Each professional at Morison works for you, providing you numerous competitive pickup truck insurance quotes to ensure you end up with the best coverage at the right insurance rate for your truck. Our insurance brokerage represents all pick-up truck brands, some of which include Ford F-Series, Dodge Ram pickup, GM, Chevrolet, Toyota, Nissan, and Honda. Get a pickup truck insurance quote today by calling 1-800-463-8074 or by filling out the contact form on our website. You will be happy you did.