Cheap 2002 Chevrolet Silverado 3500 Insurance Cost

Want the cheapest auto insurance rates? Drivers have lots of choices when trying to find affordable Chevy Silverado 3500 insurance. They can either spend hours struggling with agents getting price quotes or save time using the internet to make rate comparisons.

There is a better way to compare auto insurance rates and you need to know the best way to price shop coverage for a new or used Chevy and locate the lowest price from local insurance agents and online providers.

It’s smart to shop coverage around occasionally due to the fact that insurance rates change quite often. Just because you found the lowest rates for Silverado insurance six months ago a different company probably has better rates today. Block out anything you think you know about auto insurance because I’m going to let you in on the secrets to the tricks you need to know to find great coverage at a great price.

Take advantage of discounts

Insuring your fleet can be pricey, but there could be available discounts that you may not even be aware of. Some trigger automatically when you quote, but lesser-known reductions have to be requested specifically in order for you to get them. If you’re not getting every credit you deserve, you are throwing money away.

  • College Student – Kids in college who live away from home and do not have access to a covered vehicle can receive lower rates.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Chevy could qualify for a substantially lower rate.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to use their safety belts could save 15% off your PIP or medical payments premium.
  • Drivers Education – Cut your cost by having your teen driver complete a driver education course if it’s offered in school.
  • No Claims – Drivers with accident-free driving histories can earn big discounts when compared to frequent claim filers.
  • Memberships – Participating in a professional or civic organization could trigger savings when shopping for insurance coverage for Silverado insurance.
  • Multiple Policy Discount – When you combine your home and auto insurance with one insurance company you will save up to 20% off your total premium.

It’s important to note that most of the big mark downs will not be given to the overall cost of the policy. Most only cut the cost of specific coverages such as collision or personal injury protection. Just because you may think you would end up receiving a 100% discount, it just doesn’t work that way. But all discounts will help reduce the cost of coverage.

For a list of insurers offering insurance coverage discounts, click here to view.

How to Compare Insurance Coverage Costs

Getting a cheaper price on 2002 Chevy Silverado 3500 insurance doesn’t have to be difficult. Consumers just need to invest a little time comparing rate quotes online with multiple companies. This can be done in several different ways.

  1. The first (and easiest) way to get quotes for comparison is an all-inclusive rate comparison like this one (opens in new window). This easy form saves time by eliminating repetitive form entry to each individual insurance coverage company. One form will get you price quotes from all major companies. This is perfect if you don’t have a lot of time.
  2. A less efficient way to obtain and compare quotes online requires a visit to each company website to complete their respective quote request forms. For example, let’s assume you want comparison quotes from Farmers, Safeco and State Farm. To find out each rate you need to visit each site to input your insurance information, which is why the first method is quicker. For a handy list of car insurance company links in your area, click here.

Which method you use is up to you, but make absolute certain that you use exactly the same coverages and limits with each company. If the quotes have higher or lower deductibles then you won’t be able to truly determine the lowest rate.

Impacting insurance rates for a Chevy Silverado 3500

Smart consumers have a good feel for the factors that go into determining your insurance rates. When you know what positively or negatively impacts premium levels enables informed choices that could result in better insurance rates.

Listed below are some of the factors insurance companies consider when setting premiums.

  • Safe vehicles cost less to insure – Safer cars get lower rates. These vehicles result in less severe injuries and fewer injuries means less money paid by your insurance company passed on to you as lower rates. If the Chevy Silverado 3500 is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it is probably cheaper to insure.
  • A lapse in coverage is a bad thing – Having an insurance coverage lapse is a fast way to trigger a rate increase. Not only will you pay more, failure to provide proof of insurance will get you a steep fine or even jail time.You may then be required to file a SR-22 with your state motor vehicle department to get your license reinstated.
  • Your occupation can affect rates – Did you know your insurance rates can be affected by your occupation? Careers like real estate brokers, architects and financial analysts have higher average rates attributed to job stress and long work hours. Conversely, occupations such as farmers, engineers and performers get better rates for Silverado insurance.
  • Liability insurance protects assets – Your policy’s liability coverage is the coverage that protects you if ever a court rules you are at fault for damages caused by your negligence. It will provide for a legal defense starting from day one. This coverage is very inexpensive as compared to coverage for physical damage, so buy as much as you can afford.
  • Do you need the policy add-ons? – There are a ton of add-on coverages that can waste your money on your 2002 Silverado 3500 policy. Things like vanishing deductibles, accident forgiveness and motor club memberships may be wasting your money. These coverages may sound good initially, but if you don’t need them remove them from your policy.

How to know if you need help

When buying coverage for your vehicles, there really is not a best way to insure your cars. Every insured’s situation is different.

These are some specific questions may help you determine if your situation would benefit from an agent’s advice.

  • Do I have coverage when using my vehicle for my home business?
  • When does my teenage driver need to be added to my policy?
  • How many claims can I have before being cancelled?
  • Does my medical payments coverage pay my health insurance deductible?
  • What are the best liability limits?
  • Does insurance cover tools stolen from my truck?
  • When would I need additional glass coverage?
  • Am I covered when driving in Canada or Mexico?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, simply complete this short form. It is quick, free and can help protect your family.

Save 15 percent in 15 minutes? Is it for real?

Consumers can’t get away from ads for cheaper car insurance by companies like State Farm and Allstate. They all seem to make an identical promise of big savings if you switch to them.

How does each company make the same claim? It’s all in the numbers.

All the different companies are able to cherry pick for the right customer that earns them a profit. For instance, a preferred risk could possibly be between the ages of 30 and 50, has no tickets, and chooses high deductibles. A customer who fits that profile is entitled to the best price and is almost guaranteed to save when switching.

Consumers who are not a match for this ideal profile must pay higher prices and this can result in business going elsewhere. The ads say “drivers who switch” not “everybody who quotes” save that much. That is how companies can truthfully advertise the savings.

This illustrates why you should compare many company’s rates. It’s impossible to know which insurance companies will provide you with the cheapest Chevy Silverado 3500 insurance rates.

Insurance coverage specifics

Understanding the coverages of a insurance policy can help you determine the right coverages and the correct deductibles and limits. Insurance terms can be confusing and reading a policy is terribly boring.

Liability insurance

This provides protection from damage that occurs to other’s property or people that is your fault. It protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage protects against things like loss of income, funeral expenses, attorney fees, emergency aid and medical services. How much liability coverage do you need? That is your choice, but buy higher limits if possible.

Coverage for collisions

Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers things such as colliding with another moving vehicle, backing into a parked car, sideswiping another vehicle and driving through your garage door. This coverage can be expensive, so consider removing coverage from older vehicles. You can also raise the deductible to save money on collision insurance.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP kick in for expenses such as pain medications, surgery, ambulance fees, doctor visits and prosthetic devices. They can be used to fill the gap from your health insurance program or if you lack health insurance entirely. It covers you and your occupants and will also cover getting struck while a pedestrian. PIP coverage is not an option in every state and may carry a deductible

Comprehensive insurance

Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like damage from a tornado or hurricane, falling objects, theft, rock chips in glass and a broken windshield. The maximum payout your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries and damage to your 2002 Chevy Silverado 3500.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Normally these limits are similar to your liability insurance amounts.

Smart shoppers get results

As you prepare to switch companies, you should never reduce needed coverages to save money. There have been many cases where an accident victim reduced comprehensive coverage or liability limits and found out when filing a claim they didn’t have enough coverage. Your focus should be to buy the best coverage you can find for the lowest price while still protecting your assets.

Consumers switch companies for any number of reasons including unfair underwriting practices, delays in responding to claim requests, high prices and denial of a claim. Regardless of your reason for switching companies, finding a great new company is less work than it seems.

We just showed you quite a bit of information on how to get a better price on 2002 Chevy Silverado 3500 insurance. It’s most important to understand that the more rate quotes you have, the higher the chance of saving money. You may even discover the biggest savings come from some of the lesser-known companies.

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