How Much Does 2003 Chevrolet Silverado 1500 Car Insurance Cost?

Searching for lower auto insurance rates for your Chevrolet Silverado 1500? Overwhelmed by the number of auto insurance companies available to you? You’re not alone. You have such a vast assortment of companies available that it can quickly become a real hassle to find better rates.

Compare quotes for insurance

There are multiple methods to compare insurance prices and some are less labor-intensive and much quicker. You could spend your day talking to insurance agencies in your area, or you can utilize the web to accomplish the same thing much quicker.

Many of the larger companies participate in an industry program that enables customers to submit their information once, and each company then gives them pricing based on the submitted data. This prevents consumers from doing quote requests for each company. To compare rates now click here to open in new window.

The one downside to pricing coverage this way is that consumers can’t choose which insurance companies to get pricing from. So if you prefer to pick from a list of companies to compare, we have a page of the cheapest insurance companies in your area. Click here to view list.

Take whichever approach you prefer, but be sure to compare identical quote information for each quote you get. If you enter different values for each quote you can’t possibly make a fair rate comparison. Just slight variations in coverages may cause a big price difference. Just remember that more quotes helps you find a better price.

Discounts for affordable insurance coverage rates

Companies don’t list every discount they offer in an easy-to-find place, so the below list has a few of the more well known and also the lesser-known discounts that you can inquire about if you buy car insurance online.

• Safety Restraint Discount – Forcing all vehicle occupants to use a seat belt can save up to 10 percent (depending on the company) off the medical payments premium.
• Payment Discounts – If you can afford to pay the entire bill instead of monthly or quarterly installments you could save 5% or more.
• Include Life Insurance and Save – Larger insurance carriers have a discounted price on car insurance if you buy auto and life insurance together.
• Passive Restraint Discount – Vehicles with factory air bags or automatic seat belts could see savings of 25 to 30%.
• Distant Student Discount – Kids living away from home attending college and won’t have access to an insured vehicle could qualify for this discount.
• No Charge for an Accident – Not necessarily a discount, but a few companies such as Geico and Allstate may permit one accident before they charge you more for coverage so long as you haven’t had any claims for a certain period of time.
• Accident-Free Discounts – Drivers who don’t have accidents pay less when compared to insureds who have frequent claims or accidents.
• Discount for Home Ownership – Being a homeowner can save a few bucks because of the fact that having a home means you have a higher level of financial diligence.
• Discounts for New Vehicles – Putting insurance coverage coverage on a new car can get you a discount due to better safety requirements for new model year vehicles.

Don’t be shocked that most credits do not apply to your bottom line cost. Some only reduce the price of certain insurance coverages like medical payments or collision. Even though the math looks like you can get free auto insurance, you won’t be that lucky.

For a list of providers that offer some of these discounts, follow this link.

Tailor your auto insurance coverage to you

When it comes to buying the right insurance coverage, there really is no “perfect” insurance plan. Your needs are not the same as everyone else’s.

For instance, these questions might help in determining if you would benefit from professional advice.

• Can I still get insurance after a DUI?
• When should I not file a claim?
• Can I pay claims out-of-pocket if I buy high deductibles?
• Is extra glass coverage worth it?
• Will my vehicle be repaired with OEM or aftermarket parts?
• Is my trailer covered?
• Are my friends covered when driving my 2003 Chevy Silverado 1500?
• Do I need more liability coverage?
• I have health insurance so do I need medical payments coverage?
• What is the difference between comprehensive and collision coverage?

If it’s difficult to answer those questions but a few of them apply, you might consider talking to an agent. If you want to speak to an agent in your area, fill out this quick form.

How your Silverado 1500 insurance prices are determined

Multiple criteria are part of the equation when you get a price on insurance. Some are pretty understandable such as your driving record, but others are less apparent such as your credit history and annual miles driven.A large part of saving on insurance is knowing some of the things that go into determining the rates you pay for insurance. If you have some idea of what positively or negatively impacts your premiums, this empowers consumers to make smart changes that could result in lower insurance prices.

The list below includes some of the major factors used by companies to determine your rates.

• How many miles do you drive? – Driving more miles in a year the more you’ll pay to insure it. The majority of insurers charge to insure your cars based on how the vehicle is used. Autos left parked in the garage get more affordable rates compared to those used for work or business. It’s always a good idea to double check that your policy states the correct usage for each vehicle, because it can save money. Having an incorrect usage rating on your Silverado 1500 may be wasting your money.
• Credit history impacts premiums – A driver’s credit rating is likely to be a major factor in calculating your insurance rates. Consumers who have high credit ratings tend to be less risk to insure than drivers with lower ratings. If your credit rating can use some improvement, you could save money insuring your 2003 Chevrolet Silverado 1500 by improving your credit score.
• Vehicles with better crash test results mean better prices – Vehicles that have high safety ratings cost less to insure. The safest vehicles reduce occupant injuries and better occupant protection means lower claim amounts and cheaper rates on your policy.
• Stress out and pay more – Jobs such as military personnel, architects and accountants tend to have higher premiums than the average policyholder because of intense work requirements and lots of time spent at work. On the other hand, professions such as actors, engineers and the unemployed have the lowest average rates for Silverado insurance.
• Policy add-ons may be wasting money – Insurance companies have many add-on coverages that may not really be needed on your Silverado 1500 policy. Things like coverage for rental cars, towing coverage, and term life insurance could be just wasting money. These coverages may sound good when you first buy your policy, but if you’ve never needed them in the past think about removing them and cutting costs.

Truth in insurance advertising

Big name companies like Allstate and Progressive constantly bombard you with ads in print and on television. They all make an identical promise that drivers can save some big amount if you change to them. How does every insurance company offer drivers better rates? Here is the trick they use.

Insurance companies have specific characteristics for the type of driver that will be a good risk. For example, a profitable risk profile could possibly be between the ages of 30 and 45, has few claims, and drives less than 10,000 miles a year. Anyone who matches that profile receive the lowest rate quotes and will probably cut their rates substantially.

Potential insureds who cannot meet the ideal profile will be quoted higher prices which results in the customer not purchasing. The trick companies use is to say “customers who switch” but not “all drivers who get quotes” save the amount stated. This is how companies can truthfully make those statements.

That is why you really need to compare as many free car insurance quotes as you can. It’s just too difficult to predict with any certainty which company will have better rates than you’re paying now.

Insurance coverage specifics

Having a good grasp of your insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording.

Comprehensive coverages – Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as hitting a deer, damage from a tornado or hurricane, hail damage and damage from flooding. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and also any damage incurred to your Chevy Silverado 1500.

Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Frequently these coverages do not exceed the liability coverage limits.

Coverage for medical payments – Coverage for medical payments and/or PIP provide coverage for immediate expenses for chiropractic care, EMT expenses, pain medications and nursing services. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Collision – Collision coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as hitting a mailbox, scraping a guard rail and crashing into a building. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. You can also increase the deductible to save money on collision insurance.

Liability coverage – Liability insurance can cover damage or injury you incur to a person or their property. This insurance protects YOU against other people’s claims, and does not provide coverage for damage to your own property or vehicle.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 100/300/100 which means $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery. Another option is a combined single limit or CSL that pays claims from the same limit without having the split limit caps.

Liability can pay for things such as emergency aid, medical services and structural damage. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Shop smart and save

Cheaper auto insurance is attainable on the web and with local insurance agents, and you need to comparison shop both to have the best chance of lowering rates. A few companies may not provide internet price quotes and most of the time these smaller companies work with independent insurance agents.

You just learned many ways to save on 2003 Chevy Silverado 1500 insurance. The key thing to remember is the more providers you compare, the better chance you’ll have of finding cheap car insurance. You may even discover the best rates are with a lesser-known regional company.

As you prepare to switch companies, make sure you don’t buy poor coverage just to save money. There have been many situations where an insured dropped full coverage and learned later they didn’t purchase enough coverage. Your strategy should be to buy the best coverage you can find at the best possible price, but do not sacrifice coverage to save money.

More tips and info about auto insurance can be found by following these links:

• Things to Know Before you Cancel Insurance (Allstate)
• Understanding your Policy (NAIC.org)
• Neck Injury FAQ (iihs.org)
• Senior Drivers (Insurance Information Insitute)
• Driving in Bad Weather (Insurance Information Insitute)