Ford trucks have dominated American automotive culture for over six decades. Unfortunately, since most Ford trucks and SUVs have large engines with tons of horsepower, they usually cost an arm and a leg to insure. Luckily, truck owners can slash insurance costs by raising their deductible.

High Deductible = Low Premium

Here’s a simple rule of thumb: the higher your deductible, the lower your premium. The Insurance Information Institute reports that raising your deductible from $250 to $1,000 could cut your premium by 40 percent or more. You’ll pay more out-of-pocket should you file a claim, but reducing your insurance premium may be well worth it.

Choosing a Deductible

Ford truck drivers, listen up: When deciding on your insurance deductible, choose the highest amount you can afford. If you can only afford a $500 deductible, don’t go overboard with a $1,000 deductible. You will be responsible for paying the full deductible when you file a claim, so have at least that much on hand.

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