All too often when budgeting for a new car, potential car buyers forget to factor in the monthly cost of insurance. Depending upon the cost of the vehicle and many other factors, the monthly cost of insurance can make or break whether you are able to afford the new Jeep Gladiator of your dreams.
If you are taking the steps to ensure you are making a sound financial decision while searching for your new car, you have come to the right place. Keep on reading to get a good idea of how much monthly insurance will cost for your new Jeep Gladiator.
What Is The Average Cost To Insure A Jeep Gladiator?
So, how much does it cost to insure a Jeep Gladiator truck? On average, insuring your Jeep Gladiator will cost about $150 to $250 a month depending on your age, sex, location, driving history, and vehicle cost.
However, we know that being on the low end of this range to the high end could change whether or not you can afford your new vehicle. If you want a more precise idea of what insurance for a Jeep Gladiator will cost for you, keep on reading. We will break down all of the important factors and give you a good idea of where you will stand.
Jeep Gladiator Are Expensive – With an Insurance Premium to Match
The new 2020 Jeep Gladiator starts at $34,000. We all know this is far from the cheapest option on the market, and any upgrades past the base package will quickly increase that price. As insurance companies have to pay out the cost of a replacement vehicle, the more expensive the car, the higher the insurance.
This is something to keep in mind while choosing your Jeep Gladiator. Even though it may seem like you can scrape together enough to make your monthly payment if you don’t factor in increased insurance costs you’ll be in big trouble. Your insurance could easily increase hundreds of dollars a month, depending on how expensive your previous vehicle was.
You might need to look at gently used vehicles instead of a brand new car in order to afford a Jeep Gladiator. However, this comes with the added benefit of decreasing your insurance costs as well. You can often find leased-only vehicles with very low mileage in great condition, and save a few thousand dollars in the process.
If you still need to have a better idea of what your insurance will be for your situation, keep on reading. We are going to break down why insurance costs differently for different people, and link you to an insurance calculator so you can see what insurance will be without ever needing to speak to an insurance agent.
How Does Insurance For a Jeep Gladiator Compare to the Average Compact Truck?
Insurance for the 2020 Jeep Gladiator is expected to be a lot higher than for the average compact truck. You may be asking why this is, and there are quite a few reasons for it. Here are some key considerations insurance providers will look at when considering rates for your new Jeep Gladiator:
- Body Type – Although the Jeep Gladiator is very similar to a Jeep Wrangler – it just has a bed – pickups are always more expensive to insure.
- Theft – Jeep Wranglers are one of the most stolen vehicles out there. Insurance companies will make sure to cover their losses if Jeep Gladiators prove to be stolen often as well.
- New Vehicle – Not only is this new vehicle more likely to get stolen, but it also has unknown safety ratings and insurance companies don’t yet know the statistics as to how much damage to other vehicles and people it will do in case of an accident. Insurance companies are going to hedge their bets and make sure that they are charging more.
- Safety – While Jeeps tend to be very safe for their passengers and drivers, they are very large and can do a lot of damage on the road. Insurance companies charge more for Jeeps, in general, to cover potential damages for other drivers, passengers, and vehicles – not just for yourself and your vehicle. Remember, $40,000 for a new Jeep Gladiator is chump change compared to the hundreds of thousands in potential medical bills if you are in an accident.
- Retail Price – The more expensive the car, the more expensive it will be to replace it. Because Jeep Gladiators are a more expensive vehicle, vehicle insurance for them will be on the more expensive side than for the average vehicle.
- Cost of Parts – Even the cost of parts will be a factor. The Jeep Gladiator is a new model – meaning parts will be more expensive and made of more exclusive and rare materials. Insurance agents will take this into account when determining what your monthly insurance payments will be.
Other Factors to Consider When Getting Your Jeep Gladiator Insured
There will be many other factors that insurance companies will look at when determining what to charge you for insurance annually. While we have looked at what makes Jeep Gladiators a special and likely more expensive case, it is important to look at these other key factors to see where you stand. It is very possible that your insurance payments will not be too high if you have the correct list of attributes. Here are some of these factors and how they will affect your insurance premiums:
- Gender and Age – Young men will incur high insurance rates than young women as, statistically, young men get into more accidents than young women. However, this actually changes with age. In fact, older men will find themselves with lower insurance payments than older women, as they are the ones who get into more accidents. Where you land on this spectrum will be a key factor in determining your premiums.
- Marital Status – Interestingly enough, married people tend to get into fewer car accidents than single people. This is likely because they are living more responsible lives and likely out partying less. They could also often be driving with children in the car and are more concerned with coming home in one piece to their families, whereas single people have a little less to lose when it comes to potential accidents. If you are married, you will save some money on car insurance.
- Where You Live – Did you know that most accidents tend to occur close to home? This is because people tend to pay less attention to the road in familiar environments – meaning if other drivers throw a curveball you will likely not respond in time. If you live in a highly-populated area with many accidents – this will affect your car insurance greatly. If you live in a more rural area, you will save some cash as you are less likely to get into an accident.
- Credit Score – While insurance does not help or hurt your credit, your insurance agent is going to look at your credit score as a sign of how responsible you are. If you have a bad credit score, they may assume that you will not act responsibly with your new Jeep Gladiator.
- Profession – There are different risks with different professions, and insurance agents will take this into account when determining your likelihood of getting into an accident. If you work long hours and late nights, this will definitely negatively affect your vehicle insurance rates. They will also look at how much you will likely travel for work. If you are a journalist, for instance, they will assume that you are on the road constantly. If you work from home a lot or aren’t on the road as much as your title may imply – be sure to let them know so that you can potentially save some cash.
- Driving History – This one is a no-brainer. If you have a history of accidents and tickets, your insurance costs are going to go up.
- Driving Activity – If you believe that you don’t drive very much – you can actually get a device installed to track your driving behavior and lower your premiums. This could be a great way to save some money so that you can get that new Jeep Gladiator of your dreams.
How to Save Money on Insurance for a Jeep Gladiator
There are a few key factors about certain models of the Jeep Gladiator that can actually save you some money on your insurance. Make sure to mention these to your insurance agent, as it is a new vehicle and they may overlook these features. Here’s what to let them know:
- Passive Restraint System – If there are airbags and motorized seatbelts in your model, you can save money on your car insurance.
- Anti-Lock Brakes – This key safety feature will also save you money when shopping for vehicle insurance.
- Anti-Theft Devices – This is a very important one for the Jeep Gladiator in particular. If your car is equipped, you can save money on your insurance.
Bottom Line on Insurance for a Jeep Gladiator
While there is no data on what the average costs of insurance are for a Jeep Gladiator as it is such a new vehicle, it is safe to bet that your insurance premiums are going to be higher than for the average vehicle at that cost.
The lack of safety data and the likelihood of theft is going to give many insurance adjusters pause when determining your rates.
However, you can use this car insurance calculator to get a rough idea based on your own history and attributes. You can also speak to your current insurer or even shop around before you buy to see what your personal rate is going to be.