How Much Does 2007 Chevrolet Silverado 1500 Classic Insurance Cost?

Have you fallen victim to an underperforming, overpriced insurance coverage policy? Believe me when I say there are many people just like you.

Many auto insurance companies compete for your insurance dollar, so it’s not easy to compare every provider to get the best rate

It’s a great practice to shop coverage around every six months because rates trend upward over time. Even if you got the best price on Silverado Classic coverage two years ago you can probably find a lower rate today. So just forget all the misinformation about insurance coverage because you’re about to learn one of the best ways to lower your annual insurance bill.

If you have car insurance now, you should be able to save some money using these methods. Finding affordable coverage is easy if you know what you’re doing. Nevertheless, consumers do need to know the methods companies use to sell insurance online because it can help you find the best coverage.

How to Lower Your Auto Insurance Cost

All the larger auto insurance companies like Progressive, Allstate and Geico allow you to get insurance quotes online. Getting online quotes is quite easy as you just enter your coverage information as requested by the quote form. Behind the scenes, the system gets your driving record and credit report and returns a price. Quoting online helps simplify price comparisons, but the work required to visit different websites and fill out multiple forms can be a bit tiresome and repetitive. But it’s very important to get many rate quotes if you are searching for a lower rate.

There is a better way!

A more efficient way to find better auto insurance pricing makes use of a single form that obtains quotes from a lot of companies. This type of form saves time, eliminates form submissions, and makes price shopping online much easier to do. As soon as you send your information, it gets priced and you are able to buy your choice of the quotes that you receive.

If you find a better price you can simply submit the application and purchase the new policy. The whole process takes 15 minutes at the most and you will find out if you’re overpaying now.

To find out how much you can save on auto insurance, click here to open in a new tab and input your coverage information. If you have your current policy handy, we recommend you duplicate the coverages exactly as shown on your declarations page. This makes sure you will receive a price comparison for similar insurance coverage.

More discounts equal less premium

Car insurance can cost a lot, but there are discounts available that can drop the cost substantially. Certain discounts will be triggered automatically at the time of purchase, but a few need to be specifically requested in order for you to get them.

  • Driver Safety – Taking a driver safety course could save 5% or more depending on where you live.
  • Use Seat Belts – Using a seat belt and requiring all passengers to use a seat belt could save 15% on the medical payments or PIP coverage costs.
  • Anti-lock Brakes – Vehicles equipped with ABS or steering control can avoid accidents and therefore earn up to a 10% discount.
  • Discount for New Cars – Buying coverage on a new vehicle is cheaper because new vehicles have to meet stringent safety requirements.
  • Student Driver Training – Have your child take driver’s ed class if it’s offered in school.
  • Payment Discounts – If you pay your entire premium ahead of time instead of paying each month you could save up to 5%.
  • Federal Government Employee – Simply working for the federal government may qualify you for a discount on Silverado Classic coverage with select insurance companies.

Keep in mind that most discount credits are not given to the entire policy premium. A few only apply to specific coverage prices like collision or personal injury protection. Just because it seems like all those discounts means the company will pay you, you’re out of luck. But all discounts will help reduce your premiums.

To see a list of insurance companies offering auto insurance discounts, click here to view.

It’s not one size fits all

When it comes to buying proper insurance coverage, there isn’t really a “best” method to buy coverage. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. Here are some questions about coverages that may help you determine whether your personal situation could use an agent’s help.

  • Am I covered by my spouse’s policy after a separation?
  • Will my insurance pay for OEM parts?
  • How do I file an SR-22 for a DUI in my state?
  • Am I covered if I crash into my own garage door?
  • Should I put collision coverage on all my vehicles?
  • Is my state a no-fault state?
  • Is motorclub coverage worth it?
  • When does my teenage driver need to be added to my policy?
  • Is borrowed equipment or tools covered if stolen or damaged?

If you’re not sure about those questions then you might want to talk to a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier

Specific coverage details

Learning about specific coverages of your policy can be of help when determining the right coverages for your vehicles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Shown next are the usual coverages offered by insurance companies.

Liability auto insurance – This coverage will cover damage or injury you incur to other’s property or people that is your fault. It protects you from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 100/300/100 that means you have a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability can pay for claims like medical services, legal defense fees, structural damage and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as large an amount as possible.

Comprehensive auto coverage – Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as damage from flooding, damage from getting keyed, hail damage, vandalism and a broken windshield. The maximum payout you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Medical payments and PIP coverage – Med pay and PIP coverage kick in for bills such as chiropractic care, surgery and EMT expenses. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage – Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.

Collision coverage – This coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like sideswiping another vehicle, hitting a mailbox, crashing into a building and hitting a parking meter. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also increase the deductible to save money on collision insurance.

Be a smart shopper

We covered a lot of techniques to save on 2007 Chevy Silverado 1500 Classic insurance. The key concept to understand is the more rate comparisons you have, the better likelihood of reducing your rate. You may even discover the most savings is with a company that doesn’t do a lot of advertising. Regional companies may cover specific market segments cheaper compared to the large companies like State Farm and Allstate.

The cheapest insurance can be found online in addition to many insurance agents, and you need to price shop both to have the best chance of lowering rates. A few companies do not provide you the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agents.

More articles