Alright, in the interest of transparency, and to show how expensive insurance is here, this is an estimate complete with the optional coverage that we have (had) on the truck. The numbers included our 25% discount that we have earned due to merits (33% is the highest).
Our optional coverage is:
$200 deductible ($500 standard)
$5 Million 3rd party liability ($200 000 standard)
Loss of use (to get a rental car should we lose use of the truck for an insurance related reason)
New vehicle Protection (full replacement value up to 2 years after purchase of a new vehicle)
Excess Value (related to new vehicle protection, because our vehicle is worth more than $50 000 after tax, so we have to pay extra)
![](https://i.ibb.co/Pwjcc9r/Untitled.jpg)
The caveat here, is that the price doesn't change depending on who starts driving it. If my 18 year old stepson was interested in driving and wanted to learn, I wouldn't need to 'add' him to our policy at an outrageous cost, he could just drive the truck anytime he wanted to (following the restrictions on this license, of course). Anybody who holds a valid drivers license can legally drive our truck (with our permission) at any time and be fully covered.
I created an estimate for Lay-up insurance, and it came out to $393/year, but only because we still have 'new vehicle protection'. Without 'new vehicle protection' it would be $141/yr for lay-up. Our 'new vehicle protection' policy expires in November of this year, so we'll stop paying it then.