2012 Chevrolet Silverado Insurance Rates
Average insurance rates for a 2012 Chevrolet Silverado are $1,316 a year for full coverage. Comprehensive insurance costs approximately $236 each year, collision costs $426, and liability costs $484. Buying a liability-only policy costs as little as $540 a year, with high-risk insurance costing $2,860 or more. Teen drivers receive the highest rates at $5,118 a year or more.
Annual premium for full coverage: $1,316
Rate estimates for 2012 Chevrolet Silverado Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2012 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 middle-aged driver, prices range go from as low as $540 for the bare minimum liability coverage to a high rate of $2,860 for a high risk driver.
These differences show why all drivers should compare rates using their specific location and risk profile, instead of making a decision based on price averages.
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Recommended Companies for Cheap 2012 Chevrolet Silverado Insurance
Scraping up a payment for overpriced Chevrolet Silverado 1500 insurance can take a big chunk out of your checking account and force you to prioritize other expenses. Doing a price comparison is a great way to slash your bill and have more diposable income.
Multiple car insurance companies compete for your insurance dollar, and because of this it can be hard to compare insurers and get the definite best rates possible.
The quickest method we recommend to get rate comparisons is to know car insurance companies provide online access to give free rates quotes. The only thing you need to do is provide the companies a bit of rating information such as the type of vehicles you drive, how your vehicles are used, if the vehicle is leased, and what you do for a living. The rating information gets sent immediately to multiple top-rated companies and they respond with quotes within a short period of time.
Recommended Companies for the Best Insurance Rates
Policy discounts you shouldn’t miss
Car insurance can cost a lot, but there are discounts available to help bring down the price. Larger premium reductions will be automatically applied when you complete an application, but a few must be asked about prior to getting the savings.
- Lower Rates for Military – Being deployed with a military unit could mean lower rates.
- Safety Course Discount – Completing a driver safety course could possibly earn you a 5% discount if your company offers it.
- Save with a New Car – Putting insurance coverage on a new car can cost up to 25% less due to better safety requirements for new cars.
- Club Memberships – Being a member of a professional or civic organization could qualify you for a break when shopping for auto insurance for Silverado coverage.
- No Claims – Good drivers with no accidents pay less as compared to accident-prone drivers.
- Homeowners Savings – Owning a home may earn you a small savings because maintaining a house shows financial diligence.
- Discount for Swiching Early – Some insurance companies reward drivers for switching to them prior to your current policy expiring. The savings is around 10%.
- Senior Citizens – Older drivers may receive a small decrease in premiums for Silverado coverage.
Drivers should understand that some credits don’t apply to your bottom line cost. Some only reduce specific coverage prices like physical damage coverage or medical payments. So even though it sounds like all those discounts means the company will pay you, you’re out of luck. But any discount will cut the amount you have to pay.
Insurance companies that possibly offer these money-saving discounts are:
Double check with each company which discounts you may be entitled to. All car insurance discounts might not apply in your area.
Insurance agents can help
When it comes to buying the right insurance coverage, there is no cookie cutter policy. Everyone’s situation is unique and a cookie cutter policy won’t apply. For instance, these questions can help discover whether your personal situation would benefit from professional advice.
- Do I have any recourse if my insurance company denies a claim?
- If I drive on a suspended license am I covered?
- Do I have coverage when using my vehicle for my home business?
- Should I file a claim if it’s only slightly more than my deductible?
- Are split liability limits better than a combined single limit?
- When do I need to add a new car to my policy?
If you don’t know the answers to these questions but you know they apply to you, you may need to chat with an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area.
Chevy Silverado 1500 premiums are determined by many factors
Consumers need to have an understanding of some of the elements that play a part in calculating the rates you pay for auto insurance. Knowing what impacts premium levels helps enable you to make changes that can help you get big savings.
- Do you need the policy add-ons? – There are many add-on coverages that you can get tricked into buying when buying auto insurance. Things like personal injury protection, accidental death and membership fees are examples of these. They may seem good when you first buy your policy, but your needs may have changed so remove them from your policy.
- Adjust deductibles and save – The deductibles define the amount you are willing to pay before a claim is paid by your company. Physical damage coverage, also known as collision and other-than-collision, is used to repair damage to your car. A few examples of covered claims could be running into the backend of another car, collision with an animal, and burglary. The more money you have to pay, the lower your rates will be for Silverado coverage.
- Sex matters – Statistics show women are more cautious behind the wheel. However, don’t assume that women are better drivers. They both have accidents in similar percentages, but the men cause more damage and cost insurance companies more money. Men also statistically have more aggressive citations such as DWI and reckless driving.
- Don’t cancel a policy without a new one in place – Allowing your auto insurance policy to lapse will be a guaranteed way to trigger a rate increase. And not only will insurance be more expensive, but being ticketed for driving with no insurance may earn you a hefty fine and possibly a revoked license.You may then be required to submit proof of financial responsibility or a SR-22 with your state DMV.
- Safe vehicles cost less to insure – Safer cars get lower rates. These vehicles have better occupant injury protection and lower injury rates translates into savings for insurance companies and lower rates for you. If the Chevy Silverado 1500 has ratings of a minimum four stars on Safercar.gov you may qualify for a discount.
- Too many auto insurance claims drive up costs – If you frequently file small claims, you can look forward to either a policy non-renewal or much higher rates. Auto insurance companies award lower rates to people who do not file claims often. Auto insurance is meant to be used in the event of larger claims.
- Younger drivers pay higher rates – More mature drivers are more cautious drivers, statistically cause fewer accidents and tend to be better behind the wheel. Teen drivers tend to be careless and easily distracted when driving therefore auto insurance rates are much higher.
- Clean credit earns discounts – Credit history is a important factor in determining what you pay for auto insurance. So if your credit score is not that good, you could potentially save money when insuring your 2012 Chevrolet Silverado 1500 by spending a little time repairing your credit. People with high credit scores tend to be more responsible as compared to drivers with lower credit scores.
Save $489 a year. For real?
Car insurance companies such as State Farm, Allstate and GEICO regularly use ads in print and on television. They all seem to say the same thing about savings if you move to their company. How can each company make almost identical claims? This is how they do it.
Insurance companies have a certain “appetite” for the driver that makes them money. An example of a driver they prefer might be over the age of 40, owns a home, and drives newer vehicles. A customer who fits that profile will get very good rates and is almost guaranteed to cut their rates substantially.
Potential insureds who don’t meet these standards will be charged higher rates which usually ends up with the customer not buying. The ads state “people who switch” not “everyone that quotes” save that kind of money. That’s why companies can truthfully make those claims.
That is why you need to compare as many rates as you can. It’s impossible to know the company that will fit your personal profile best.
Car insurance coverage information
Having a good grasp of a insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. Shown next are typical coverage types found on most insurance policies.
Liability car insurance
Liability insurance protects you from damages or injuries you inflict on people or other property that is your fault. This insurance protects YOU from legal claims by others, and 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 limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and property damage coverage for $25,000. Another option is one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.
Liability can pay for things such as repair costs for stationary objects, legal defense fees, court costs, loss of income and medical services. How much coverage you buy is a decision to put some thought into, but consider buying as high a limit as you can afford.
Comprehensive auto coverage
This pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like damage from a tornado or hurricane, hitting a bird, damage from getting keyed, vandalism and a broken windshield. The maximum amount your insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.
Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Collision insurance covers damage to your Silverado 1500 resulting from a collision with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims such as damaging your car on a curb, sustaining damage from a pot hole and crashing into a ditch. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to get cheaper collision coverage.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP reimburse you for expenses for funeral costs, nursing services, ambulance fees and dental work. They are used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
Summing up your insurance search
As you prepare to switch companies, never reduce needed coverages to save money. In many cases, consumers will sacrifice comprehensive coverage or liability limits and found out when filing a claim they didn’t purchase enough coverage. The aim is to purchase plenty of coverage for the lowest price.
You just learned a lot of techniques to reduce 2012 Chevy Silverado 1500 insurance prices online. The key thing to remember is the more you quote, the higher the chance of saving money. Drivers may discover the most savings is with an unexpected company. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as GEICO and State Farm.
- Prom Night Tips for Teen Drivers (State Farm)
- Anti-Lock Brake FAQ (iihs.org)
- Eight Auto Insurance Myths (Insurance Information Insitute)
- Smart Auto Insurance Tips (Insurance Information Insitute)
Find the Cheapest Quotes in Your Area
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Rates by U.S. City
|New York City, NY||$2,574|
|Los Angeles, CA||$2,223|
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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||$92|
|5-yr Claim Free||$85|
|Paid in Full/EFT||$56|
Discounts are estimated and may not be available from every company or in every state.