2018 Chevrolet Silverado Insurance Rates
Average insurance rates for a 2018 Chevrolet Silverado are $1,410 a year for full coverage insurance. Comprehensive insurance costs an estimated $306 each year, collision costs $534, and liability costs $400. Buying a liability-only policy costs as little as $470 a year, with high-risk insurance costing $3,038 or more. Teen drivers receive the highest rates at $5,242 a year or more.
Annual premium for full coverage: $1,410
Rate estimates for 2018 Chevrolet Silverado Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2018 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 $470 for the bare minimum liability coverage to a high rate of $3,038 for a high risk driver.
These differences illustrate why all drivers should compare rates for a targeted area and risk profile, instead of using price averages.
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Recommended Companies for Cheap 2018 Chevrolet Silverado Insurance
Trying to find the cheapest insurance coverage rates for your Chevrolet Silverado 1500? Price shopping your Driversinsurance coverage is kind of frustrating for beginners to online rate comparisons. There are so many options available that it can easily be more work than you anticipated to lower your prices.
It’s important to do rate comparisons periodically because insurance prices go up and down regularly. Despite the fact that you may have had the best rates on Silverado coverage six months ago a different company probably has better rate quotes today. Block out anything you think you know about insurance coverage because we’re going to demonstrate the right way to save money, get proper deductibles and limits, all at the lowest rate.
If you are paying for car insurance now, you stand a good chance to be able to save some money using these tips. This information will introduce you to how to effectively get price quotes. Although consumers do need to know how companies compete online because it can help you find the best coverage.
Smart consumers can reduce their insurance rates
The best way to find cheaper auto insurance is to take a look at some of the things that help determine your auto insurance rates. When you understand what positively or negatively impacts your premiums, this allows you to make educated decisions that could result in better auto insurance rates. Many factors are considered when premium rates are determined. Most are fairly basic like an MVR report, although some other factors are not quite as obvious like where you live or how financially stable you are.
Recommended Companies for the Best Insurance Rates
- Keep auto insurance rates low by being claim-free – Insurance companies provide the best rates to people who do not file claims often. If you’re an insured who likes to file claims you can pretty much guarantee higher premiums or even policy non-renewal. Your insurance policy is meant to be used in the event of claims that pose a financial burden.
- High premiums for teenage drivers – Youthful drivers are statistically shown to be more careless in a vehicle and because of this, their auto insurance rates are much higher. More mature drivers are shown to be more cautious, file fewer claims and tend to be get fewer driving tickets.
- Never have policy lapses – Driving your car without having proper coverage can get your license suspended and auto insurance companies will penalize you for letting your coverage have a gap. Not only will you pay higher rates, the inability to provide proof of insurance might get you a fine, jail time, or a revoked license.
- How many miles do you drive? – The higher the miles on your Chevy in a year the more it will cost to insure it. The majority of insurers calculate rates based on how the vehicle is used. Autos used primarily for pleasure use cost less to insure as compared to vehicles used primarily for driving to work. Incorrect rating for your Silverado 1500 may be costing you. It’s a good idea to make sure your vehicle rating correctly shows the correct usage for each vehicle, because it can save money.
How to buy car insurance online
Most larger insurance companies such as Progressive, Allstate and GEICO provide prices for coverage directly from their websites. This process can be done by anyone as you simply type in your personal and coverage information into the form. After you complete the form, their quoting system orders reports for credit and driving violations and returns a price based on the information you submitted.
Online quotes helps simplify price comparisons, but the time required to go to each company’s website and repetitively type in your information is not the best way to spend an afternoon. But it’s absolutely necessary to get many rate quotes in order to find better car insurance pricing.
The quickest way to lower your rates makes use of a single form to get prices from many companies. This type of form saves time, requires less work, and makes online quotes much more efficient. Once the form is submitted, it gets priced and you can choose your choice of the returned quotes. If a lower price is quoted, it’s easy to complete the application and purchase coverage. The entire process only takes a few minutes and can result in significant savings.
If you want to get comparison pricing now, simply click here to open in new window and begin entering your coverage information. If you have a policy now, it’s recommended you replicate the limits and deductibles identical to your current policy. Doing this assures you are getting an apples-to-apples comparison using the exact same coverages.
These discounts can lower your insurance coverage rates
Auto insurance companies don’t list every available discount very clearly, so the list below contains a few of the more well known in addition to some of the lesser obvious discounts that you may qualify for.
- Theft Deterent – Cars equipped with tracking devices and advanced anti-theft systems are less likely to be stolen and will qualify for a discount on a auto insurance quote.
- Payment Discounts – By making one initial payment instead of paying each month you could save 5% or more.
- Onboard Data Collection – Drivers that enable data collection to analyze driving patterns by using a telematics device in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive might see lower rates if they show good driving skills.
- Safety Course Discount – Passing a course that instructs on driving safety could cut 5% off your bill and make you a better driver.
- Sign Early and Save – Some insurance companies give discounts for buying a policy prior to your current policy expiring. It’s a savings of about 10%.
- Cautious Driver Discounts – Insureds without accidents can save as much as half off their rates on Silverado coverage than drivers with accidents.
- Discounts for New Vehicles – Buying a new car model can cost up to 25% less because new vehicles have to meet stringent safety requirements.
- Sign Online – Some of the larger companies give back up to $50 for completing your application on the web.
- Low Mileage Discounts – Low annual miles can qualify you for substantially lower insurance coveragerates.
- Government Employee Discount – Active or retired federal employment may reduce rates when you quote auto insurance on Silverado coverage with select insurance companies.
Consumers should know that most credits do not apply to the entire cost. Most cut the cost of specific coverages such as comprehensive or collision. So even though it sounds like it’s possible to get free car insurance, it doesn’t quite work that way.
Large insurance coverage companies and some of the premium reductions they offer can be read below.
- Progressive has savings for multi-policy, online signing, continuous coverage, multi-vehicle, homeowner, good student, and online quote discount.
- MetLife offers discounts including good student, good driver, claim-free, accident-free, and multi-policy.
- Mercury Insurance offers premium reductions for low natural disaster claims, age of vehicle, location of vehicle, ease of repair, multi-policy, multi-car, and annual mileage.
- Nationwide may offer discounts for accident-free, family plan, multi-policy, anti-theft, defensive driving, and easy pay.
- GEICO may include discounts for defensive driver, daytime running lights, multi-policy, seat belt use, multi-vehicle, good student, and driver training.
- AAA offers discounts for good driver, pay-in-full, education and occupation, multi-car, good student, anti-theft, and multi-policy.
Before purchasing a policy, check with all companies you are considering how many discounts you can get. Depending on the company, some discounts might not be offered on policies in every state. If you would like to view providers that can offer you the previously mentioned discounts, click this link.
Different people need different insurance coverage coverages
When buying the right insurance coverage for your vehicles, there really is not a cookie cutter policy. Everyone’s needs are different.
These are some specific questions may help you determine whether or not you may require specific advice.
- Does insurance cover tools stolen from my truck?
- Is my Chevy Silverado 1500 covered if I use it for business?
- When should my teen driver be added to my policy?
- Is my ex-spouse still covered by my policy?
- Should I file a claim if it’s only slightly more than my deductible?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
If you don’t know the answers to these questions, you might consider talking to an agent. If you want to speak to an agent in your area, simply complete this short form.
Information about specific coverages
Knowing the specifics of a insurance policy can help you determine the best coverages for your vehicles. Insurance terms can be difficult to understand and reading a policy is terribly boring.
Uninsured or underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants and damage to your Chevy Silverado 1500.
Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family.
Coverage for collisions
Collision coverage will pay to fix damage to your Silverado 1500 caused by collision with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims like hitting a mailbox, sideswiping another vehicle, backing into a parked car, colliding with a tree and sustaining damage from a pot hole. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also choose a higher deductible to bring the cost down.
This can cover injuries or damage you cause to other’s property or people in an accident. It protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.
Liability can pay for things like loss of income, repair bills for other people’s vehicles, structural damage and attorney fees. How much liability coverage do you need? That is a personal decision, but buy higher limits if possible.
Medical expense coverage
Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for ambulance fees, hospital visits, EMT expenses and X-ray expenses. They are utilized in addition to your health insurance plan or if you lack health insurance entirely. It covers both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
This coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims such as damage from a tornado or hurricane, vandalism, a tree branch falling on your vehicle and hitting a bird. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Don’t throw your cash in the trash
A few companies do not provide online quoting and these smaller providers work with independent insurance agencies. Lower-priced car insurance can be bought both online and from local insurance agents, so you should compare both to have the best chance of lowering rates.
As you go through the steps to switch your coverage, it’s not a good idea to buy lower coverage limits just to save a few bucks. There have been many situations where drivers have reduced uninsured motorist or liability limits only to regret that the small savings ended up costing them much more. Your aim should be to purchase a proper amount of coverage at the best price but still have enough coverage for asset protection.
Throughout this article, we presented some good ideas how you can compare 2018 Chevy Silverado 1500 insurance premium rates online. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. Consumers may even find the lowest premium rates are with a small local company.
For more information, feel free to visit the resources below:
- A Tree Fell on Your Car: Now What? (Allstate)
- Auto Crash Statistics (Insurance Information Insitute)
- What is a Telematics Device? (Allstate)
- Think You’re a Safe Driver? (State Farm)
- How Much Auto Coverage do I Need? (Insurance Information Insitute)
Find the Cheapest Quotes in Your Area
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Rates by U.S. City
|New York City, NY||$2,754|
|Los Angeles, CA||$2,376|
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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||$103|
|5-yr Claim Free||$90|
|Paid in Full/EFT||$64|
Discounts are estimated and may not be available from every company or in every state.