2002 Chevrolet Silverado 2500 Insurance Rates – 7 Discounts for Cheaper Quotes

Looking for better insurance rates for your Chevrolet Silverado 2500? Pricey Chevrolet Silverado 2500 insurance can sap your bank account and force you to make sacrifices.

You have so many car insurance companies to choose from, and although it’s a good thing to have multiple companies, more choices can make it harder to compare company pricing.

These seven discounts can lower your insurance coverage quotes

Car insurance companies don’t always advertise every discount in an easy-to-find place, so the next list breaks down some of the best known as well as some of the hidden discounts you could be receiving when you buy insurance online.

• Telematics Data Discounts – Drivers who elect to allow driving data collection to study their driving habits through the use of a telematics system such as Progressive’s Snapshot and State Farm’s In-Drive may see discounts as long as the data is positive.
• Own a Home – Being a homeowner may earn you a small savings because maintaining a house is proof that your finances are in order.
• No Claims – Insureds with no claims or accidents can earn big discounts as compared to frequent claim filers.
• Discount for Passive Restraints – Cars that have air bags or automatic seat belts may qualify for discounts as much as 30%.
• Life Insurance – Insurance companies who offer life insurance give a lower premium rate if you buy auto and life insurance together.
• Defensive Driver Discount – Taking time to complete a defensive driving course could possibly earn you a 5% discount and easily recoup the cost of the course.
• Use Seat Belts – Drivers who require all occupants to use their safety belts can save a little off the personal injury premium cost.

Discounts lower rates, but most of the big mark downs will not be given the the whole policy. Most only apply to individual premiums such as comp or med pay. Just because it seems like adding up those discounts means a free policy, you aren’t that lucky.

A few of the larger companies and a partial list of their discounts can be read below.

• State Farm has discounts for Drive Safe & Save, defensive driving training, driver’s education, Steer Clear safe driver discount, multiple policy, multiple autos, and student away at school.
• Liberty Mutual offers discounts including multi-car, exclusive group savings, good student, multi-policy, safety features, preferred payment discount, and newly married.
• American Family offers premium reductions for accident-free, early bird, multi-vehicle, mySafetyValet, defensive driver, good driver, and bundled insurance.
• Progressive may have discounts that include multi-policy, online signing, continuous coverage, good student, homeowner, multi-vehicle, and online quote discount.
• Farmers Insurance policyholders can earn discounts including youthful driver, mature driver, switch companies, homeowner, good student, distant student, and teen driver.
• Auto-Owners Insurance may offer discounts for safe driver, paid in full, anti-lock brakes, multi-policy, and paperless.
• SAFECO offers discounts for accident prevention training, anti-theft, teen safety rewards, teen safe driver, homeowner, and drive less.

Before purchasing a policy, check with every prospective company to give you their best rates. A few discounts might not be offered on policies in your state. For a list of providers that have a full spectrum of discounts, click here to view.

Different people need different auto insurance coverages

When buying proper insurance coverage for your personal vehicles, there really is no “best” method to buy coverage. Every situation is different so your insurance needs to address that. For example, these questions can help discover if you might need professional guidance.

• Do I have coverage for damage caused while driving under the influence?
• Is my custom paint covered by insurance?
• What if I don’t agree with a claim settlement offer?
• Why am I required to get a high-risk car insurance policy?
• How high should deductibles be on a 2002 Chevy Silverado 2500?
• Can I rent a car in Mexico?
• Should I drop comprehensive coverage on older vehicles?
• Is my dog or cat covered if injured in an accident?

If you’re not sure about those questions but one or more may apply to you, you may need to chat with an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.

Are you falling for claims of savings?

Well-known insurance companies like Allstate, Geico and Progressive regularly use television, radio, and online ads. They all seem to make the promise that you can save just by moving your coverage to them. How is it possible that every company can make almost identical claims? You have to listen carefully.

Companies have specific characteristics for the type of customer that earns them the highest profit. A good example of a driver they prefer might have to be a married female, has no prior claims, and drives a car with an anti-theft system. Any customer that hits that “sweet spot” will get a cheap rate quote and will pay quite a bit less when switching companies.

Drivers who do not meet the ideal profile will probably have to pay more expensive rates and the customer buying from a different company. The ads say “people who switch” not “everybody who quotes” save money. That is how insurance companies can confidently claim big savings. Because every company is different, it’s extremely important to get a wide range of price quotes. Because you cannot predict which insurance companies will have the lowest rate quotes.

Information about specific coverages

Learning about specific coverages of insurance helps when choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be confusing and coverage can change by endorsement. These are the normal coverages found on most insurance policies.

Auto liability insurance – Liability coverage will cover damage that occurs to people or other property that is your fault. It protects you from legal claims by others, and does not provide coverage for damage to your own property or vehicle.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 50/100/50 that means you have a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage pays for claims such as pain and suffering, attorney fees, medical expenses and repair costs for stationary objects. How much liability should you purchase? That is a decision to put some thought into, but buy as large an amount as possible.

UM/UIM Coverage – Your UM/UIM coverage gives you protection when other motorists do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your 2002 Chevy Silverado 2500.

Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Medical costs insurance – Medical payments and Personal Injury Protection insurance pay for bills like surgery, dental work, hospital visits, nursing services and rehabilitation expenses. The coverages can be utilized in addition to your health insurance policy or if there is no health insurance coverage. Coverage applies to both the driver and occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Collision coverages – This pays for damage to your Silverado 2500 caused by collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against claims such as backing into a parked car, colliding with another moving vehicle, driving through your garage door and sustaining damage from a pot hole. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Another option is to increase the deductible to get cheaper collision coverage.

Comprehensive or Other Than Collision – Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as hail damage, hitting a bird, damage from getting keyed, a broken windshield and falling objects. The maximum amount your insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Affordable insurance is out there

Throughout this article, we presented many ways to get a better price on 2002 Chevy Silverado 2500 insurance. The key thing to remember is the more providers you compare, the better your chances of lowering your premium rates. You may be surprised to find that the lowest priced car insurance comes from a smaller regional carrier. Smaller companies may often insure only within specific states and give getter rates than the large multi-state companies such as State Farm and Allstate.

When searching for affordable insurance quotes, it’s a bad idea to skimp on critical coverages to save a buck or two. Too many times, drivers have reduced collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your focus should be to purchase a proper amount of coverage at the lowest possible cost while still protecting your assets.

To read more, link through to the following helpful articles:

• Auto Insurance 101 (About.com)
• How Much is Car Insurance for a Chevrolet Silverado in Scottsdale? (ScottsdaleInsure.com)
• Understanding Rental Car Insurance (Insurance Information Insitute)
• Distracted Driving Statistics (Insurance Information Insitute)
• Safety Tips for Teen Drivers (Insurance Information Insitute)
• Choosing an Insurance Company (Insurance Information Insitute)