How Much Does 2015 Chevrolet Silverado 1500 Car Insurance Cost?

Want cheaper insurance rates for your Chevrolet Silverado 1500? Nobody looks forward to buying insurance, especially knowing the price is too high. Because you have many online and local companies to choose from, it’s difficult to choose the right insurer.

Why your Chevy Silverado 1500 might be costing you more

It’s important that you understand the rating factors that help determine the rates you pay for car insurance. Understanding what determines base rates empowers consumers to make smart changes that could result in lower car insurance prices.

  • Low deductibles can be expensive – The deductibles represent how much money you are required to spend out-of-pocket if you file a covered claim. Physical damage insurance, also known as collision and other-than-collision, covers damage that occurs to your car. A few examples of covered claims would be colliding with a building, vandalism, or theft. The more you have to pay, the lower your rates will be on Silverado insurance.
  • Cautious drivers pay less – Drivers with clean records tend to pay less for car insurance than people who have multiple driving citations. Just one ticket may increase your cost twenty percent or more. Drivers with severe tickets like hit and run, DWI or reckless driving convictions are required to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to drive a vehicle legally.
  • Where you live – Residing in a small town can be a good thing when insuring your vehicles. Less people living in that area means reduced accidents and a lower car theft rate. City drivers regularly have much more traffic to deal with and a longer drive to work. Higher commute times can result in more accidents.
  • Multiple policies with one company can save – Most companies provide better rates to customers who buy several policies from them, otherwise known as a multi-policy discount. Even with this discount, it’s in your best interest to compare rates to ensure the best deal. You may still be able to find better rates by splitting coverages up.

The quickest method we recommend to compare insurance rates in your area utilizes the fact auto insurance companies actually pay money for the chance to give free rates quotes. All consumers are required to do is provide information such as whether you are married, how many miles driven, whether you have decent credit, and whether the vehicles are used for commuting. Your details is then sent to many highly-rated insurers and they return cost estimate immediately.

Beware of misleading insurance ads

Consumers constantly see and hear ads that promise big savings from companies such as Geico, State Farm and Progressive. They all make the same claim that you can save if you switch your policy.

But how can every company make the same claim? This is how they do it.

Insurance companies have a preferred profile for the right customer that is profitable for them. An example of a desirable insured could possibly be between the ages of 40 and 55, is a homeowner, and has a short commute. A driver that hits that “sweet spot” will get very good rates and most likely will pay quite a bit less when switching companies.

Potential customers who fall outside the “perfect” profile must pay a higher premium which leads to the customer not buying. Company advertisements say “customers who switch” not “people who quote” save that much money. This is how insurance companies can confidently claim big savings. This illustrates why it is so important to compare many company’s rates. You cannot predict which insurance company will have the lowest Chevy Silverado 1500 insurance rates.

These discounts can lower your rates

Companies do not advertise all available discounts very clearly, so the following is a list of both the well known as well as the least known auto insurance savings. If you’re not getting every credit available, you are throwing money away.

  • One Accident Forgiven – A few companies will forgive one accident before raising your premiums if you are claim-free for a particular time prior to the accident.
  • Paperless Signup – Certain companies will discount your bill up to fifty bucks just for signing your application over the internet.
  • Passive Restraint Discount – Cars that have air bags and/or automatic seat belt systems may earn rate discounts of up to 25% or more.
  • Multi-car Discount – Buying coverage for more than one vehicle on the same auto insurance policy could earn a price break for each car.
  • Defensive Driving Course – Completing a course in driver safety can save you 5% or more if you qualify.
  • Anti-lock Brake Discount – Anti-lock brake equipped vehicles can reduce accidents and therefore earn up to a 10% discount.
  • Homeowners Discount – Owning a house may earn you a small savings because owning a home requires personal responsibility.
  • New Vehicle Savings – Insuring a new car can be considerably cheaper due to better safety requirements for new cars.

A little note about advertised discounts, many deductions do not apply the the whole policy. The majority will only reduce specific coverage prices like liability, collision or medical payments. Just because you may think you could get a free auto insurance policy, you won’t be that lucky.

Insurance companies that may have some of the above discounts are:

Before buying, ask each insurance company which discounts you may be entitled to. All car insurance discounts might not apply in your state.

Different people need different coverages

When buying proper insurance coverage for your vehicles, there really is no perfect coverage plan. Every insured’s situation is different and a cookie cutter policy won’t apply. These are some specific questions might point out if your situation will benefit from professional help.

  • I have health insurance so do I need medical payments coverage?
  • Are my friends covered when driving my car?
  • Is there coverage for injuries to my pets?
  • What is UM/UIM insurance?
  • Do I need replacement cost coverage on my 2015 Chevy Silverado 1500?
  • Do I have coverage if my license is suspended?
  • What are the financial responsibility laws in my state?
  • Does my insurance cover damage caused when ticketed for reckless driving?

If you’re not sure about those questions but you know they apply to you, you may need to chat with an agent. If you don’t have a local agent, fill out this quick form or click here for a list of car insurance companies in your area. It’s fast, doesn’t cost anything and may give you better protection.

Car insurance coverages and their meanings

Understanding the coverages of a car insurance policy helps when choosing which coverages you need and the correct deductibles and limits. Car insurance terms can be ambiguous and even agents have difficulty translating policy wording. Listed below are the normal coverages offered by car insurance companies.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Auto collision coverage

Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like sustaining damage from a pot hole, rolling your car, driving through your garage door and colliding with a tree. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to raise the deductible to get cheaper collision coverage.

Medical payments and PIP coverage

Med pay and PIP coverage provide coverage for short-term medical expenses for ambulance fees, surgery, rehabilitation expenses, prosthetic devices and nursing services. They are often used to fill the gap from your health insurance plan or if there is no health insurance coverage. Coverage applies to you and your occupants in addition to if you are hit as a while walking down the street. PIP is not available in all states and gives slightly broader coverage than med pay

Comprehensive auto coverage

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like hitting a deer, falling objects, a broken windshield and damage from a tornado or hurricane. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Liability

Liability insurance will cover damage or injury you incur to a person or their property. It protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 that translate to a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.

Liability insurance covers claims like court costs, bail bonds and pain and suffering. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase higher limits if possible.

Affordable insurance is out there

The cheapest 2015 Chevy Silverado 1500 insurance can be purchased on the web as well as from independent agents, and you need to price shop both to get a complete price analysis. Some insurance providers don’t offer you the ability to get quotes online and usually these small insurance companies provide coverage only through local independent agents.

As you go through the steps to switch your coverage, you should never sacrifice coverage to reduce premiums. There have been many situations where consumers will sacrifice liability limits or collision coverage and learned later they didn’t purchase enough coverage. Your aim should be to get the best coverage possible at an affordable rate.

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