2001 Chevrolet Silverado 2500 Insurance Quotes – 8 Ideas for Best Rates

Searching for the cheapest insurance rates for your Chevrolet Silverado 2500? Are you tired of being strong-armed each month for insurance? You are no different than most other people. There is such a variety of insurers to insure vehicles with, and even though it’s nice to have a selection, lots of choices makes it harder to compare rates and find the lowest cost insurance.

It’s smart to price shop coverage occasionally because insurance prices change quite often. If you had the best quotes on Silverado insurance a couple years back other companies may now be cheaper. There is a lot of bad information regarding insurance online but I’m going to show you some good information on how to stop overpaying for insurance.

Car insurance discounts are available to reduce your rates

Car insurance is expensive, but you might already qualify for some discounts to help offset the cost. Certain discounts will be applied at quote time, but occassionally some discounts must be asked about before they will apply. If you aren’t receiving every discount you qualify for, you are paying more than you should be.

• Early Switch Discount – A few insurance companies offer discounts for switching to them before your current coverage expires. This can save 10% or more.
• No Charge for an Accident – Not necessarily a discount, but a handful of insurance companies may permit one accident before raising your premiums if your claims history is clear before the accident.
• Include Life Insurance and Save – Companies who offer life insurance give a lower rate if you buy a life insurance policy as well.
• Drive Safe and Save – Insureds without accidents may receive a discount up to 45% on Silverado insurance as compared to drivers with claims.
• Student Discount for Driver Training – Cut your cost by having your teen driver enroll and complete driver’s education as it can save substantially.
• ABS Brakes – Cars equipped with ABS or steering control prevent accidents and the ABS can save up to 10%.
• New Vehicle Savings – Insuring a vehicle that is new can save up to 30% since new model year vehicles are generally safer.
• Good Grades Discount – Getting good grades can get you a discount of up to 25%. The good student discount can last up until you turn 25.

A little note about advertised discounts, some credits don’t apply to the overall cost of the policy. Most only reduce the price of certain insurance coverages like comprehensive or collision. So even though it sounds like all those discounts means the company will pay you, that’s just not realistic.

Popular car insurance companies and some of the discounts can be read below.

• American Family offers discounts including good driver, good student, bundled insurance, TimeAway discount, Steer into Savings, mySafetyValet, and multi-vehicle.
• Nationwide may include discounts for business or organization, Farm Bureau membership, good student, easy pay, anti-theft, and accident-free.
• MetLife may have discounts that include good driver, good student, accident-free, multi-policy, defensive driver, and claim-free.
• 21st Century policyholders can earn discounts including anti-lock brakes, driver training, homeowners, air bags, defensive driver, good student, and theft prevention.
• Farmers Insurance offers premium reductions for pay in full, mature driver, bundle discounts, youthful driver, good student, and homeowner.
• Allstate has discounts for resident student, premier discount, anti-lock brakes, farm vehicle, and economy car.

Before purchasing a policy, check with each insurance company which discounts they offer. Depending on the company, some discounts may not be available in your area.

Insurance advertising tricks

Drivers get pounded daily by advertisements that claim the lowest prices by Allstate, Geico and Progressive. All the companies convey the message that you can save if you get a free car insurance quote and switch to them.

Is it even possible that every company can offer drivers better rates? Here is the trick they use.

All the different companies quote the lowest rates for the right customer that will be a good risk. For example, this type of driver might have to be a female over age 40, carries full coverage, and has great credit. Any customer who fits that profile will get low prices and will also save when they switch companies.

People who are not a match for those criteria may be forced to pay a more expensive rate and this can result in business going elsewhere. If you pay close attention to the ads, they say “customers that switch” but not “all drivers who get quotes” save that much. This is how insurance companies can confidently make those statements.

This really illustrates why drivers must quote coverage with many companies. It is impossible to guess which insurance company will provide the lowest car insurance rates.

Everyone needs different car insurance coverages

When it comes to buying the right insurance coverage for your personal vehicles, there is no best way to insure your cars. Each situation is unique and a cookie cutter policy won’t apply. For example, these questions might help in determining if you would benefit from an agent’s advice.

• Should I rate my 2001 Chevy Silverado 2500 as pleasure use or commute?
• What can I do if my company denied a claim?
• Do I need PIP coverage since I have good health insurance?
• Can I drive in Mexico and have coverage?
• Am I covered when driving someone else’s vehicle?
• Do I need roadside assistance coverage?

If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies. It’s fast, free and can provide invaluable advice.

Car insurance policy coverages for a Chevy Silverado 2500

Understanding the coverages of a car insurance policy can be of help when determining the best coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and reading a policy is terribly boring. Listed below are typical coverages found on the average car insurance policy.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and also any damage incurred to your Chevy Silverado 2500.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Frequently these limits are identical to your policy’s liability coverage.

Auto liability insurance

Liability coverage provides protection from damage or injury you incur to other’s property or people in an accident. It protects you from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) which provides one coverage limit without having the split limit caps.

Liability can pay for claims like medical expenses, pain and suffering, repair costs for stationary objects, medical services and bail bonds. How much liability coverage do you need? That is a personal decision, but you should buy as much as you can afford.

Comprehensive auto coverage

Comprehensive insurance covers damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as damage from a tornado or hurricane, vandalism, hitting a deer, a tree branch falling on your vehicle and hail damage. The maximum amount your car insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Collision insurance

This coverage covers damage to your Silverado 2500 resulting from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as hitting a mailbox, scraping a guard rail, crashing into a ditch, crashing into a building and backing into a parked car. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP kick in for short-term medical expenses for surgery, funeral costs, dental work, nursing services and rehabilitation expenses. They are often used to fill the gap from your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage

Be a penny pincher

Some companies do not provide the ability to get quotes online and usually these regional carriers provide coverage only through independent agencies. Lower-priced auto insurance is definitely available online as well as from independent agents, so compare prices from both to get a complete price analysis.

When searching for the cheapest car insurance quotes, you should never buy lower coverage limits just to save a few bucks. In many instances, consumers will sacrifice physical damage coverage only to find out that the small savings ended up costing them much more. The ultimate goal is to buy a smart amount of coverage for the lowest cost while not skimping on critical coverages.

More learning opportunities

• Understanding Your Insurance Deductible (Insurance Information Insitute)
• Tread Depth and Tire Safety (State Farm)
• What is Covered by GAP Insurance? (Allstate)
• Vehicle Insurance in the U.S. (Wikipedia)