Cheap 2020 Chevrolet Silverado 3500HD Insurance Cost in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Apr 25, 2024

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Price shopping your Driverscar insurance can seem to be a challenge for drivers new to shopping for insurance online. People have so many options available that it can easily be a lot of work to find more affordable car insurance rates.

You need to quote other rates yearly because prices are usually higher with each renewal. Just because you had the lowest rate on SilveradoHD insurance on your last policy you can probably find a lower rate today. Forget anything you know (or think you know) about car insurance because I’m going to teach you the things you must know in order to save on car insurance.

Lower rate quotes with these discounts

Car insurance can cost a lot, but there are discounts available to cut the cost considerably. Many of these discounts will be applied automatically at the time of quoting, but some need to be specially asked for prior to getting the savings.

  • Student Discounts – Excelling in school can save 20 to 25%. Most companies allow this discount up until you turn 25.
  • Senior Discount – If you’re over the age of 55, you could receive a small discount on rates on SilveradoHD insurance.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags or automatic seat belts can qualify for discounts of more than 20%.
  • Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle up can save up to 15% on medical payment and PIP coverage.
  • Defensive Driver Discounts – Successfully completing a course that instructs on driving safety may get you a small discount and easily pay for the cost of the class.

It’s important to understand that some of the credits will not apply to the entire policy premium. Most only cut the cost of specific coverages such as comprehensive or collision. Even though it may seem like you could get a free insurance coverage policy, insurance coverage companies aren’t that generous. But all discounts will help lower your policy premium.

Large insurance coverage companies and some of the discounts are detailed below.

  • GEICO policyholders can earn discounts including anti-lock brakes, defensive driver, good student, driver training, multi-policy, daytime running lights, and membership and employees.
  • Auto-Owners Insurance offers premium reductions for group or association, multi-policy, safe driver, teen driver, safe vehicle, and anti-theft.
  • American Family offers discounts including defensive driver, good driver, air bags, mySafetyValet, early bird, and Steer into Savings.
  • Esurance may offer discounts for emergency road assistance, DriveSense, multi-policy, anti-theft, and good driver.
  • Progressive offers discounts for good student, multi-vehicle, online signing, online quote discount, homeowner, and continuous coverage.
  • State Farm includes discounts for Steer Clear safe driver discount, Drive Safe & Save, student away at school, multiple autos, passive restraint, and accident-free.
  • AAA has savings for AAA membership discount, multi-car, good student, multi-policy, and good driver.

Before buying, ask all companies you are considering which credits you are entitled to. Discounts may not apply to policies in your area. To find companies with discount rates, enter your zip code here.

First Step: Get free insurance coverage quotes

To get inexpensive car insurance quotes, there a variety of ways of comparing rates from all the different companies. The recommended way to compare rates is to get quotes online. It’s really quite simple and can be done by using one of the methods below.

The simplest way consumers can make multiple comparisons is to use a rate comparison form. This style of form prevents you from having to do boring form submissions to each individual insurance coverage company. A single, simple form gets insurance cost estimates direct from many companies. Recommended for those who want to invest the least amount of time.

A harder way to find lower rates is spending the time to visit each company website and go through the quote process again. For sake of this example, let’s assume you want to compare prices for Progressive, Esurance and Liberty Mutual. To get rate quotes you would need to spend time going to each site individually to enter your coverage information, and that explains why we recommend the first method.

The hardest way to get comparison rates is to spend time driving to all the different insurance agencies. The internet eliminates the need for an insurance agent unless you prefer the trained advice of an agent trained in personal lines coverage. It is possible with some companies get the lowest quotes online but have your policy serviced through an agent.

Take whichever approach you prefer, but make sure you use exactly the same deductibles and coverage limits with every price quote. If you use different values for each quote it will be next to impossible to decipher which rate is best. Just a small difference in insurance coverages or limits may cause a big price difference. Just remember that comparing more rates from different companies helps improve the odds of finding a lower rate than you’re paying now. Not every company allows you to get online rate quotes, so it’s important to also get price estimates from those companies as well.

How insurers calculate Chevy Silverado 3500HD insurance prices

The best way to find cheaper car insurance is to take a look at a few of the rating criteria that help calculate your policy premiums. If you understand what controls the rates you pay, this helps enable you to make changes that could result in better car insurance rates. Lots of factors are part of the calculation when quoting car insurance. Some of the criteria are obvious such as your driving history, but some are less apparent such as your credit history or your vehicle rating.

  • Do you know your deductibles? – Insurance for physical damage, also called comprehensive and collision insurance, helps pay for damage to your vehicle. Some examples of claims that would be covered could be colliding with a building, vandalism, or theft. The deductibles tell how much you are required to spend out-of-pocket if a claim is determined to be covered. The more you pay before a claim is paid (deductible), the lower your rates will be on SilveradoHD insurance.
  • Fewer miles means better rates – The more you drive your Chevy in a year the more you’ll pay to insure it. Most companies calculate rates based on how the vehicle is used. Autos that do not get driven very much can get a lower rate as compared to vehicles used primarily for driving to work. Ask your agent if your policy is rated on the correct driver usage, because it can save money. Having an incorrect usage rating on your Silverado 3500HD is throwing money out the window.
  • Poor credit decisions can cost you – Credit score factor in determining premium rates. People that have very good credit scores tend to be less risk to insure than drivers who have worse credit. Therefore, if your credit score can be improved, you could pay less to insure your 2020 Chevrolet Silverado 3500HD if you clean up your credit.
  • Do you qualify for a multi-policy discount? – Most companies apply better rates to clients who have multiple policies with them, otherwise known as a multi-policy discount. Discounts can amount to as much as ten percent or more Even if you already get this discount, drivers will still want to get quotes from other companies to ensure the best deal. Drivers may still find better rates even if you insure with multiple companies.
  • Do you really need the extra policy coverages? – There are many extra coverages that you can get tricked into buying if you aren’t careful. Coverages like replacement cost coverage, better glass coverage, and extra equipment coverage may be wasting your money. They may seem good when buying your policy, but your needs may have changed so remove them from your policy.
  • Vocation can influence car insurance rates – Do you work in a high-stress field? Jobs such as fire fighters, social workers and stock brokers tend to pay the highest average rates due to intense work situations and lengthy work days. On the other hand, jobs like farmers, engineers and performers get better rates on SilveradoHD insurance.

Auto insurance can be complex

When choosing proper insurance coverage, there really is no perfect coverage plan. Everyone’s needs are different.

For instance, these questions can help discover whether you could use an agent’s help.

  • Does having multiple vehicles earn me a discount?
  • Should I buy only the required minimum liability coverage?
  • Can I still get insurance after a DUI?
  • Do I need higher collision deductibles?
  • Am I covered if hit by an uninsured driver?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Is rental equipment covered for theft or damage?
  • Who is covered when they drive my 2020 Chevy Silverado 3500HD?
  • Will my rates increase for filing one claim?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed agent. To find an agent in your area, take a second and enter your zip code.

Car insurance policy coverages for a Chevy Silverado 3500HD

Understanding the coverages of a car insurance policy can help you determine the best coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Medical expense coverage

Med pay and PIP coverage kick in for short-term medical expenses for dental work, chiropractic care, hospital visits, ambulance fees and X-ray expenses. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP is not available in all states and may carry a deductible

Collision insurance

Collision coverage pays to fix your vehicle from damage resulting from colliding with an object or car. A deductible applies then your collision coverage will kick in.

Collision insurance covers things like crashing into a building, sustaining damage from a pot hole, rolling your car and hitting a parking meter. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Another option is to raise the deductible to bring the cost down.

Uninsured or underinsured coverage

This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Chevy Silverado 3500HD.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Comprehensive protection

This pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims such as vandalism, damage from getting keyed, a tree branch falling on your vehicle and damage from a tornado or hurricane. The most a car insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability car insurance

This protects you from damages or injuries you inflict on a person or their property. This coverage protects you against other people’s claims. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 25/50/25 that translate to a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability coverage pays for claims like medical services, medical expenses, funeral expenses and emergency aid. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

Saving money is sweet as honey

Some insurance companies do not provide the ability to get quotes online and most of the time these smaller providers only sell through independent agencies. Lower-priced auto insurance can be bought from both online companies and from local agencies, and you should be comparing both in order to have the best chance of saving money.

Throughout this article, we presented a lot of information how to save on 2020 Chevy Silverado 3500HD insurance. It’s most important to understand that the more quotes you get, the better your comparison will be. You may be surprised to find that the best price on auto insurance is with a company that doesn’t do a lot of advertising.

As you prepare to switch companies, make sure you don’t buy lower coverage limits just to save a few bucks. In many instances, someone sacrificed comprehensive coverage or liability limits only to regret at claim time that the few dollars in savings costed them thousands. The proper strategy is to buy a smart amount of coverage at the best price, but don’t skip important coverages to save money.

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