How Much Does Insurance Cost for a Chevrolet Silverado in New Jersey?

The chances of finding affordable insurance for a Chevy Silverado in New Jersey depends upon a lot of different factors such as how far you commute, if you have recent claims, and deductible levels for physical damage coverage. Drivers pay approximately $1,730 per year to insure a Silverado, but that price is an approximation using rate data for a 30-year-old single male who needs full coverage and $500 deductibles.

It’s highly likely that you are not 30 and maybe not even a male, maybe you are married instead of single, or maybe you want different physical damage deductibles. This example demonstrates why your best shot at finding the cheapest insurance price for your Chevrolet is to make a habit of comparing prices at least once a year. Get a free quote now and you will be able to compare rates from the best companies that insure vehicles in New Jersey.

The trim level of your vehicle has an effect on the coverage cost, so the cost to insure a Silverado LS Regular Cab 2WD will be $292 lower than the cost to insure the more expensive Silverado Crew Cab Hybrid 4WD version, as demonstrated by the prices below.

Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rate quotes do not factor in zip code location which can change premium rates greatly.

Ending up with the best insurance company is hard considering how many companies provide coverage in New Jersey. The company information listed below could help you choose which car insurance companies to look at when comparing rates. These ratings are for large, nationwide insurance companies, so companies that focus mainly on New Jersey business will not be included in the list.

Top 10 Large Car Insurance Companies in New Jersey Ranked by Claims Service

1. Progressive
2. USAA
3. Liberty Mutual
4. State Farm
5. GEICO
6. Nationwide
7. Allstate
8. The Hartford
9. 21st Century
10. Farmers Insurance

Top 10 Large Car Insurance Companies in New Jersey Ranked by Customer Service

1. Mercury Insurance
2. The Hartford
3. American Family
4. Progressive
5. Travelers
6. State Farm
7. USAA
8. GEICO
9. Allstate
10. Farmers Insurance

Top Companies for Chevrolet Silverado Insurance in New Jersey

How careless driving impacts car insurance rates

In a perfect world, the ideal way to score good car insurance premiums in New Jersey for a Silverado pickup is to be a careful driver and avoid accidents and keep your driving record clean. The diagram below shows how traffic citations and accidents can impact insurance prices for each age group. The price estimates are based on a single male driver, full physical damage coverage, $100 deductibles, and no other discounts are factored in.

The data above shows the average cost of a car insurance policy in New Jersey per year with no accidents and a clean driving record is $3,883. Get two speeding tickets and the average cost hikes up to $5,179, an increase of $1,296 each year. Now add one accident along with the two speeding tickets and the 12-month cost of car insurance for a Chevy Silverado jumps again to an average of $6,487. That’s an increase of $2,604, or $217 per month, just for not maintaining a clean driving record!

Cost of full coverage

Finding cheap insurance for a Chevy Silverado in New Jersey is probably important to the majority of vehicle owners, and one common way to find cheap insurance is to buy only liability coverage. The illustration below visualizes the comparison of auto insurance costs with full coverage compared to only the New Jersey minimum liability coverage. The prices are based on no accidents, no driving violations, $250 deductibles, single status, and no additional discounts are factored in.

If we average the cost for ages 20 through 70, full coverage costs an additional $2,890 per year over and above liability only. That amount may make you wonder if full coverage is worth the money. There is no definitive formula for excluding full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

For example, let’s assume your vehicle’s settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $4,000 after the policy deductible has been paid. If you are paying more than $400 annually to have full coverage, then you may need to consider dropping full coverage.

There are a few cases where dropping full coverage is not advised. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.

Which car insurance company is best?

When buying insurance for a Silverado pickup in New Jersey, four companies to definitely compare rates with are State Farm, Geico, Progressive, and Allstate. Each one has a slightly different set of options and discounts that may influence which company you choose. The next table breaks down ratings for price, service, and claims, in additional to some of the optional coverages you can expect with each one.