Steel, or another metal alloy can also be painted to match the color of the truck. Or in the case of Pro, black.
It would be lame if it was just a plastic bumper cover, since insurance rates might go up, even if you never need the bumpers.
When I chose the F-150, I called for quotes from two insurers for Toyota and Jeep as well and the F-150 was less than half what the Toyota Tacoma was to insure.
I imagine a big part of the disparity is that the Tacoma has plastic bumper covers in front and Toyota won't sell weld on frame repair horns like Ford does. If you get rear ended in a Tacoma and the hitch or rear bumper bend the frame, the truck is automatically totaled! I spent some time reading on Tacomaworld on this issue and confirmed it by seeing barely damaged Tacomas at Copart auto auctions.