This hasn't been my experience. Had two aluminum bodied vans while in Chicago...one of them made in year I was born. The body oxidizes, but not eaten away. Granted, it was 1/8" thick...
And I was talking about body parts, not stress parts. No, it isn't as forgiving as steel, but it's only a little less forgiving than the plastic panels you have to replace at a premium when they take a good blow.
Not cheap -- that was the whole point.
Insurance premiums? The other day I saw a car with one of those ridiculous running-headlights out. I figured it must be a $500 repair, and surely would stay out for some time.
BTW, most tractor-trailers are (or were) aluminum bodied. I can’t recall ever seeing one of them rusted out.