2003 Chevrolet Silverado 1500 Insurance Quotes – 7 Savings Tips

Want cheaper insurance coverage rates for your Chevrolet Silverado 1500? I can’t think of a single person who likes paying for insurance coverage, in particular when their premiums are through the roof.

Big companies like State Farm, Allstate, Geico and Progressive constantly blast consumers with TV and radio ads and consumers find it hard to see through the deception and effectively compare rates to find the best deal.

It’s a great practice to compare rates at least once a year because rates change frequently. Despite the fact that you may have had the best price for Silverado insurance on your last policy there may be better deals available now. Forget all the misinformation about insurance coverage because you’re about to find out one of the easiest ways to eliminate unnecessary coverages and save money.

Fast and Easy Insurance Quotes

There are multiple methods to compare 2003 Chevy Silverado 1500 insurance quotes, but some are more efficient than others. You can spend your afternoon driving to insurance companies in your area, or you can stay home and use the internet to get rate comparisons in just a few minutes.

Many companies belong to an insurance system where insurance shoppers submit one quote, and at least one company returns a competitive quote based on that data. This eliminates the need for quotation requests to each company. To get comparison pricing now click here to start a free quote.

The single downside to comparing rates this way is you cannot specify which companies to get quotes from. So if you prefer to pick specific providers to compare prices, we have a listing of the cheapest insurance companies in your area. Click to view list.

However you get your quotes, make absolute certain that you use identical coverage limits and deductibles for each price quote. If each company quotes higher or lower deductibles you can’t possibly truly determine the lowest rate. Having just a slight variation in limits may result in a large different in cost. Keep in mind that comparing more company’s prices helps locate the best rates.

Is there truth in advertising?

Insurance coverage companies such as State Farm and Allstate consistently run ads in print and on television. They all seem to have a common claim that you’ll save big if you change to their company. How does each company claim to save you money?

All companies have a certain “appetite” for the driver that makes them money. For instance, a driver they prefer might be between the ages of 40 and 55, insures multiple vehicles, and has great credit. A driver who matches those parameters gets the lowest rates and is almost guaranteed to save quite a bit of money when switching.

Potential customers who don’t measure up to this ideal profile will have to pay higher prices and ends up with business not being written. The ads state “customers that switch” but not “drivers who get quotes” save that much. This is how insurance companies can claim big savings.

Because of the profiling, you absolutely need to get a wide range of price quotes. It’s just too difficult to predict which insurance companies will give you the biggest savings on Chevy Silverado 1500 insurance.

Do you qualify for a discount?

The price of auto insurance can be rather high, buy you may qualify for discounts to reduce the price significantly. Some trigger automatically when you complete an application, but some may not be applied and must be asked about before they will apply.

  • Safe Drivers – Safe drivers may save up to 50% more for Silverado insurance than drivers with accidents.
  • Save with a New Car – Adding a new car to your policy can save up to 30% because new vehicles have to meet stringent safety requirements.
  • Life Insurance Discount – Companies who offer life insurance give a break if you buy life insurance from them.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to use a seat belt can save up to 15% on the medical payments or PIP coverage costs.
  • Discount for Good Grades – Performing well in school can save 20 to 25%. This discount can apply until age 25.
  • Passive Restraint Discount – Vehicles with factory air bags and/or automatic seat belt systems can receive discounts of up to 25% or more.
  • Accident Forgiveness – Certain companies will allow you to have one accident without raising rates as long as you don’t have any claims for a particular time prior to the accident.

Consumers should know that most credits do not apply to your bottom line cost. Most cut individual premiums such as comp or med pay. Just because it seems like having all the discounts means you get insurance for free, it just doesn’t work that way. But all discounts will cut your premiums.

To see a list of insurers with the best auto insurance discounts, click here.

What coverages do I need?

When choosing the best car insurance coverage, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For instance, these questions might help in determining if you would benefit from an agent’s advice.

  • How do I insure my teen driver?
  • What is the difference between comprehensive and collision coverage?
  • Can I rent a car in Mexico?
  • Does my liability insurance cover pulling a trailer or camper?
  • Am I covered if I hit my neighbor’s mailbox?
  • Will I lose any money if I cancel my policy before it expires?
  • Is my 2003 Chevy Silverado 1500 covered for flood damage?
  • What is roadside assistance coverage?
  • Where can I get insurance after a DUI in my state?
  • Do I need higher collision deductibles?

If you don’t know the answers to these questions, you may need to chat with a licensed insurance agent. If you don’t have a local agent, fill out this quick form or you can go here for a list of companies in your area.

Car insurance coverage considerations

Knowing the specifics of your policy aids in choosing which coverages you need for your vehicles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverages found on the average car insurance policy.

Comprehensive (Other than Collision)

This pays for damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like hitting a bird, theft and vandalism. The maximum payout your car insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Liability insurance

Liability coverage protects you from damage that occurs to other people or property. This coverage protects you against other people’s claims. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 50/100/50 that translate to $50,000 bodily injury coverage, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one limit called combined single limit (CSL) which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage pays for things like funeral expenses, medical expenses, pain and suffering, emergency aid and structural damage. How much liability should you purchase? That is a decision to put some thought into, but you should buy as much as you can afford.

Medical expense insurance

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for hospital visits, surgery, dental work, ambulance fees and prosthetic devices. The coverages can be utilized in addition to your health insurance plan or if you do not have health coverage. Coverage applies to all vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Collision protection

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

Collision coverage protects against claims like sideswiping another vehicle, colliding with a tree and hitting a parking meter. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Drivers also have the option to bump up the deductible to save money on collision insurance.

Protection from uninsured/underinsured drivers

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Chevy Silverado 1500.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea. Most of the time the UM/UIM limits do not exceed the liability coverage limits.

Be Smart and Buy Smart

Cost effective 2003 Chevy Silverado 1500 insurance can be sourced from both online companies and also from your neighborhood agents, and you need to comparison shop both so you have a total pricing picture. Some car insurance companies may not provide the ability to get a quote online and these regional insurance providers work with independent agents.

We just showed you a lot of tips how to reduce insurance prices online. It’s most important to understand that the more you quote, the better your chances of lowering your rates. You may even find the most savings is with a lesser-known regional company. They can often provide lower rates in certain areas as compared to the big name companies such as Allstate and Progressive.

When shopping online for car insurance, never reduce needed coverages to save money. There are a lot of situations where an insured cut liability coverage limits and learned later they didn’t have enough coverage. The ultimate goal is to get the best coverage possible at a price you can afford while not skimping on critical coverages.

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