How Much Does 2002 Chevrolet Silverado 2500 Insurance Cost?

Looking for better insurance rates for your Chevrolet Silverado 2500? Paying for high-priced Chevrolet Silverado 2500 insurance can dwindle your personal savings and force you to make sacrifices. Comparing price quotes is free, only takes a few minutes, and is a good way to make sure you’re not throwing money away.

Online insurance companies like State Farm, Farmers Insurance, Geico and Allstate all claim big savings with catchy ads and it is difficult to sift through the bull and effectively compare rates to find the best deal.

If you currently have car insurance, you will most likely be able to lower your premiums substantially using this information. Finding the best rates is easy if you know what you’re doing. But consumers can benefit by having an understanding of how insurance companies price insurance differently and take advantage of how the system works.

Discounts mean cheaper Chevy Silverado 2500 insurance rates

Insuring your vehicles can cost a lot, buy you may qualify for discounts that many people don’t even know exist. Certain discounts will be triggered automatically when you complete an application, but lesser-known reductions have to be manually applied prior to getting the savings.

  • Early Switch Discount – Some companies give discounts for switching policies before your current policy expires. It’s a savings of about 10%.
  • Accident Waiver – Some insurance companies will forgive one accident before hitting you with a surcharge if your claims history is clear for a certain period of time.
  • Theft Prevention Discount – Cars that have factory anti-theft systems are stolen less frequently and will save you 10% or more.
  • Military Rewards – Being deployed with a military unit may qualify for rate reductions.
  • Student Driver Training – Cut your cost by having your teen driver enroll in driver’s education in school.
  • Discounts for Safe Drivers – Insureds without accidents may receive a discount up to 45% less for Silverado coverage than drivers with accidents.
  • New Vehicle Savings – Insuring a new car can save up to 30% due to better safety requirements for new cars.
  • Save over 55 – Older drivers may be able to get a small decrease in premiums for Silverado coverage.
  • More Vehicles More Savings – Buying insurance for multiple cars or trucks on the same car insurance policy qualifies for this discount.
  • Bundle and Save – When you combine your home and auto insurance with one insurance company you could get a discount of up to 20% off your total premium.

It’s important to understand that most of the big mark downs will not be given to the overall cost of the policy. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears all the discounts add up to a free policy, you won’t be that lucky. But any discount will help reduce the amount you have to pay.

For a list of providers with the best car insurance discounts, click here.

How to Lower Your Insurance Coverage Cost

Shopping for lower insurance coverage rates can be challenging if you aren’t aware of the most efficient way to do it. You could waste time talking to agents in your area, or you can stay home and use the internet for quick rates.

Many companies belong to an insurance system that allows shoppers to submit one quote, and every company then returns a price quote for coverage. This system prevents you from having to do quote forms to each company.

To participate in this free quote system, click to open in new window.

The only drawback to pricing coverage this way is you cannot specify the providers to get pricing from. So if you want to select specific providers to receive pricing from, we have a listing of companies who write insurance coverage in your area. View list of insurance companies.

Whichever way you use, ensure you’re using identical coverages and limits for every quote you compare. If each company quotes unequal deductibles or liability limits you can’t possibly decipher which rate is best. Quoting even small variations in insurance coverages may result in large price differences. And when comparing insurance coverage rates, know that quoting more helps you find the best offered rates.

Tailor your coverage to you

When it comes to choosing adequate coverage for your personal vehicles, there isn’t really a “best” method to buy coverage. Everyone’s needs are different so your insurance should reflect that For example, these questions may help you determine whether your personal situation would benefit from professional advice.

  • How much liability do I need to cover my assets?
  • Does having multiple vehicles earn me a discount?
  • Am I getting all the discounts available?
  • Is pleasure use cheaper than using my 2002 Chevy Silverado 2500 to commute?
  • Do I really need UM/UIM coverage?
  • Should I buy full coverage?
  • Am I covered when using my vehicle for business?
  • Is there coverage for injuries to my pets?
  • Am I covered if I crash into my own garage door?

If you’re not sure about those questions then you might want to talk to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area.

Detailed coverages of your insurance policy

Learning about specific coverages of your policy helps when choosing appropriate coverage for your vehicles. Policy terminology can be ambiguous and coverage can change by endorsement. Shown next are the usual coverages offered by insurance companies.

Liability auto insurance

This will cover damage or injury you incur to other’s property or people by causing an accident. It protects you against other people’s claims, and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability can pay for claims like repair bills for other people’s vehicles, court costs, emergency aid and repair costs for stationary objects. The amount of liability coverage you purchase is your choice, but consider buying as high a limit as you can afford.

Protection from uninsured/underinsured drivers

This coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your Chevy Silverado 2500.

Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Auto collision coverage

Collision coverage pays for damage to your Silverado 2500 from colliding with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers claims like crashing into a ditch, hitting a mailbox and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. You can also bump up the deductible to get cheaper collision coverage.

Medical expense insurance

Medical payments and Personal Injury Protection insurance reimburse you for expenses like chiropractic care, prosthetic devices, pain medications and doctor visits. They are utilized in addition to your health insurance plan or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive (Other than Collision)

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive can pay for things like damage from getting keyed, damage from flooding, hitting a deer, hitting a bird and vandalism. The maximum amount a insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Pennies from heaven

Low-cost 2002 Chevy Silverado 2500 insurance can be sourced from both online companies in addition to many insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some companies do not provide online price quotes and these small, regional companies work with independent agents.

We just presented many ideas to compare insurance prices online. The key thing to remember is the more providers you compare, the higher your chance of finding lower rates. You may even discover the lowest priced auto insurance comes from a company that doesn’t do a lot of advertising. Smaller companies may often insure only within specific states and give getter rates compared to the large companies like Allstate, Geico and Progressive.

When buying insurance coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. In too many instances, someone sacrificed liability limits or collision coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.

More information can be found at these links: