2003 Chevrolet Silverado 2500 Car Insurance Cost – 8 Tips to Save

Have you had enough of being strong-armed to buy car insurance? You are no different than most other drivers.

Insurance companies such as State Farm, Farmers Insurance, Geico and Allstate continually hit you with ad campaigns and consumers find it hard to see past the geckos and flying pigs and effectively compare rates to find the best deal.

You need to compare rates quite often because insurance prices tend to go up over time. Even if you think you had the lowest rates on Silverado coverage a year ago there may be better deals available now. Forget anything you know (or think you know) about car insurance because we’re going to demonstrate the tricks you need to know to eliminate unnecessary coverages and save money.

If you are paying for car insurance now, you will most likely be able to cut costs considerably using these tips. Buying car insurance is easy if you know what you’re doing. But consumers can benefit by having an understanding of how insurance companies sell insurance online and take advantage of how the system works.

Lower rates by qualifying for these eight discounts

Insurance coverage is not an enjoyable expense, but you might be missing out on some discounts that can drop the cost substantially. A few discounts will automatically apply at the time of purchase, but a few must be specially asked for before they will apply.

• Federal Employees – Active or retired federal employment could provide a small rate reduction on Silverado coverage but check with your company.
• Early Payment Discounts – If you pay your entire premium ahead of time rather than paying monthly you can avoid monthly service charges.
• One Accident Forgiven – Not really a discount, but some companies like Allstate, Progressive, and Geico permit an accident before they charge you more for coverage so long as you haven’t had any claims prior to the accident.
• Discount for New Cars – Buying a new car model may earn a small discount since new model year vehicles have better safety ratings.
• Defensive Driver Discount – Passing a course in safe driver may get you a small discount depending on where you live.
• Braking Control Discount – Cars that have anti-lock braking systems are much safer to drive and earn discounts up to 10%.
• Multi-car Discount – Purchasing coverage when you have primary and secondary vehicles with the same insurance coverage company can reduce the rates for all insured vehicles.
• No Claims – Insureds with no claims or accidents pay much less in comparison to accident-prone drivers.

It’s important to understand that many deductions do not apply to the entire cost. Most cut the cost of specific coverages such as collision or personal injury protection. Even though it appears you would end up receiving a 100% discount, you won’t be that lucky.

A list of insurance coverage companies and a selection of discounts include:

• Farm Bureau may offer discounts for youthful driver, renewal discount, safe driver, driver training, multi-vehicle, and 55 and retired.
• State Farm discounts include student away at school, driver’s education, good driver, good student, and safe vehicle.
• Progressive may include discounts for homeowner, continuous coverage, good student, multi-vehicle, and online quote discount.
• Allstate may have discounts that include premier plus, utility vehicle, safe driver, resident student, early signing, and premier discount.
• Nationwide has discounts for defensive driving, family plan, anti-theft, easy pay, Farm Bureau membership, and good student.
• MetLife offers premium reductions for accident-free, multi-policy, good student, defensive driver, good driver, and claim-free.

If you are trying to find cheaper auto insurance quotes, ask all the companies the best way to save money. Depending on the company, some discounts might not be offered on policies in your state. To locate providers who offer discounts, follow this link.

Auto insurance is unique, just like you

When buying the right insurance coverage, there is no one size fits all plan. Everyone’s situation is a little different so your insurance needs to address that. Here are some questions about coverages that may help you determine if you might need an agent’s assistance.

• Do I have newly-aquired coverage?
• Do I need an umbrella policy?
• How much liability insurance is required?
• Can I afford to pay high deductible claims out of pocket?
• Am I covered if I wreck a rental car?
• Am I covered if my car is in a flood?
• What is the ISO rating for a 2003 Chevy Silverado 2500?

If you’re not sure about those questions but a few of them apply, you might consider talking to an insurance agent. To find an agent in your area, simply complete this short form or go to this page to view a list of companies.

Don’t be fooled by advertising claims

Auto insurance providers like State Farm and Allstate constantly bombard you with television and radio advertisements. They all seem to have a common claim that people will save if you change your auto insurance policy to them. How is it possible that every company can charge lower premium rates? You have to listen carefully.

Different companies have an ideal profile for the driver that will not have excessive claims. For instance, a desirable insured could possibly be between the ages of 30 and 45, has few claims, and does not commute to work. Any customer who fits that profile is entitled to the best price as well as save a lot if they switch.

Potential insureds who do not match those standards will be quoted a more expensive rate which translates to business going elsewhere. If you listen closely, the ads state “drivers who switch” not “everyone who quotes” save that much. That’s the way insurance companies can make it sound like they have such great prices. Because of these techniques, drivers should get as many free auto insurance quotes as possible. It’s just too difficult to predict which insurance companies will have the lowest rates.

Insurance policy specifics

Having a good grasp of your insurance policy can help you determine appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find typical coverages found on most insurance policies.

Liability coverage

Liability insurance can cover damage that occurs to a person or their property that is your fault. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see liability limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property.

Liability coverage pays for things like medical services, repair bills for other people’s vehicles, pain and suffering and court costs. The amount of liability coverage you purchase is your choice, but buy as large an amount as possible.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills like surgery, doctor visits and pain medications. They can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Coverage for collisions

Collision insurance will pay to fix damage to your Silverado 2500 resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for claims such as hitting a mailbox, crashing into a building, damaging your car on a curb and driving through your garage door. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. You can also bump up the deductible to save money on collision insurance.

Uninsured/Underinsured Motorist (UM/UIM)

This protects you and your vehicle from other motorists when they either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Chevy Silverado 2500.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Comprehensive insurance

Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as hitting a bird, theft, a tree branch falling on your vehicle, fire damage and falling objects. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Buy Smart and Save

The cheapest 2003 Chevy Silverado 2500 insurance is definitely available online and with local insurance agents, and you need to price shop both in order to have the best chance of saving money. Some companies don’t offer the ability to get a quote online and many times these regional insurance providers work with independent agents.

As you go through the steps to switch your coverage, it’s a bad idea to skimp on coverage in order to save money. Too many times, drivers have reduced physical damage coverage only to discover later that the savings was not a smart move. The ultimate goal is to buy a smart amount of coverage for the lowest cost.

Much more information about insurance coverage can be found below:

• Driving in Bad Weather (Insurance Information Insitute)
• Side Impact Crash Tests (iihs.org)
• Electronic Stability Control FAQ (iihs.org)
• What if I Can’t Find Coverage? (Insurance Information Insitute)
• Credit Impacts Car Insurance Rates (State Farm)