2002 Chevrolet Silverado Insurance Rates
Average insurance rates for a 2002 Chevrolet Silverado are $1,000 a year including full coverage. Comprehensive insurance costs around $146 each year, collision costs $182, and liability costs $502. Buying a liability-only policy costs as little as $556 a year, with high-risk insurance costing $2,156 or more. Teenage drivers receive the highest rates at $4,118 a year or more.
Annual premium for full coverage: $1,000
Rate estimates for 2002 Chevrolet Silverado Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2002 Chevrolet Silverado models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For a 40-year-old driver, prices range go from as low as $556 for the bare minimum liability coverage to a high rate of $2,156 for high-risk insurance.
These differences highlight why all drivers should compare rates for a specific zip code and risk profile, instead of using average rates.
Use the form below to get rates for your location.
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Recommended Companies for Cheap 2002 Chevrolet Silverado Insurance
Looking for the cheapest insurance coverage rates for your Chevrolet Silverado 1500? Finding the cheapest insurance for a new or used Chevy Silverado 1500 can be a painful process, but you can use a few tricks to make it easier.
There is a better way to buy insurance coverage and we’ll show you the best way to price shop coverage for a new or used Chevy and locate the best price possible from local insurance agents and online providers.
You should make it a habit to take a look at other company’s rates periodically due to the fact that insurance rates tend to go up over time. Even if you got the lowest rates for Silverado coverage last year you can probably find a lower rate today. Ignore everything you know about insurance coverage because you’re about to learn the tricks you need to know to find the best coverage while lowering your premiums.
If you have insurance now or need new coverage, you can follow these tips to get lower rates and still get good coverage. Locating the best insurance is quite easy. Drivers just need to learn the most effective way to shop for insurance online.
Recommended Companies for the Best Insurance Rates
Compare the Market for Car Insurance
Reducing your 2002 Chevy Silverado 1500 insurance rates is a fairly straight forward process. Just take a couple of minutes comparing price quotes provided by online insurance companies. This can be accomplished in several different ways.
- The recommended way consumers can make multiple comparisons would be an industry-wide quote request form like this one (opens in new window). This type of form keeps you from doing separate forms to each individual car insurance company. One form will return quotes instantly. It’s the fastest way to compare.
- A slightly less efficient method to shop for car insurance online consists of going to the website for every company you want to comare and fill out their own quote form. For instance, we’ll pretend you want rates from State Farm, Safeco and Farmers. You would have to take the time to go to each site and enter your policy data, which is why the first method is more popular. For a handy list of car insurance company links in your area, click here.
- The hardest method to get comparison rates is to waste gas driving to different agent offices. The ability to buy insurance online has reduced the need for local agents unless you require the personal advice only provided by licensed agents. Drivers can comparison shop online and get advice from an agent in your area and you’ll learn how to do that later.
Whichever method you choose, make absolute certain that you use identical information on every quote. If the quotes have different values for each quote then you won’t be able to determine the lowest rate for your Chevy Silverado 1500.
Which policy gives me the best coverage?
When it comes to buying coverage, there really is not a single plan that fits everyone. Coverage needs to be tailored to your specific needs.
For instance, these questions may help you determine if your insurance needs might need an agent’s assistance.
- Is my business laptop covered if it gets stolen from my vehicle?
- When would I need additional glass coverage?
- Why am I required to get a high-risk car insurance policy?
- I have health insurance so do I need medical payments coverage?
- Am I covered if hit by an uninsured driver?
- Should I bundle my homeowners policy with my auto?
- How can I get my company to pay me more for my totalled car?
- Is my custom paint covered by insurance?
- Who is covered by my policy?
If you don’t know the answers to these questions, you may need to chat with a licensed insurance agent. To find an agent in your area, take a second and complete this form. It’s fast, doesn’t cost anything and can provide invaluable advice.
Specific coverage details
Knowing the specifics of your policy can help you determine the right coverages and proper limits and deductibles. Insurance terms can be difficult to understand and even agents have difficulty translating policy wording.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses like pain medications, chiropractic care, nursing services and ambulance fees. They can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. They cover you and your occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible
Liability coverage protects you from damage that occurs to other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 25/50/25 that means you have a limit of $25,000 per injured person, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit without having the split limit caps.
Liability coverage protects against things like repair costs for stationary objects, loss of income and structural damage. The amount of liability coverage you purchase is your choice, but consider buying as large an amount as possible.
Collision coverage protection
Collision insurance covers damage to your Silverado 1500 resulting from a collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.
Collision can pay for things such as driving through your garage door, colliding with a tree and hitting a mailbox. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to choose a higher deductible in order to get cheaper collision rates.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your 2002 Chevy Silverado 1500.
Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Frequently the UM/UIM limits are similar to your liability insurance amounts.
Comprehensive auto coverage
Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for claims such as damage from flooding, a tree branch falling on your vehicle and damage from a tornado or hurricane. The most you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Find the Cheapest Quotes in Your Area
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Rates by U.S. City
|New York City, NY||$1,959|
|Los Angeles, CA||$1,689|
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Need a specific model?
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Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$58|
|5-yr Claim Free||$62|
|Paid in Full/EFT||$34|
Discounts are estimated and may not be available from every company or in every state.