Save on 2004 Chevrolet Silverado 2500 Insurance Rates

Sick and tired of trying to scrape together enough money to keep your car insured? You are in the same boat as the majority of other consumers.

Consumers have many insurers to purchase coverage from, and though it is a good thing to have multiple companies, more options can take longer to find the best rates.

Smart consumers take time to compare prices quite often since rates fluctuate regularly. Even if you got the lowest premium rates for Silverado coverage a year ago the chances are good that you can find a lower price today. Block out anything you think you know about insurance because I’m going to teach you the fastest and easiest way to properly buy coverages and cut your premium.

Affordable insurance coverage price quotes online

There are several ways to shop for insurance coverage, but there is one way that is less labor-intensive and much quicker. You could waste a few hours driving to insurance agencies in your area, or you could use online quotes to get the quickest rates.

Many of the larger companies belong to a marketplace where prospective buyers complete one form, and at least one company provides a quote based on that data. This prevents consumers from doing quote requests to each individual insurance coverage company. To get comparison pricing now click here (opens in new window).

The only downside to getting quotes like this is you don’t know exactly the companies to get quotes from. If you would rather choose individual companies for rate comparison, we have a listing of companies who write insurance coverage in your area. View list of insurance companies.

Whichever method you choose, try to use nearly identical deductibles and coverage limits for each quote you get. If you have different liability limits it’s impossible to determine the lowest rate for your Chevy Silverado 2500. Just slight variations in coverages may result in a large different in cost. Just remember that quoting more gives you a better chance of getting a better price.

Advertising myths

Respected companies like Progressive, Allstate and Geico consistently run ads in print and on television. They all seem to make the promise that you can save just by switching your auto insurance policy to them. That’s great but how can every company give you a lower rate? This is the way they can do it.

Different companies have specific characteristics for the type of customer that will generate a profit. For example, a desirable insured may need to be over the age of 35, has a clear driving record, and drives a vehicle with a low ISO rating. Anyone who matches that profile is entitled to the best price and is almost guaranteed to save quite a bit of money when switching.

Drivers who do not meet the ideal profile must pay higher rates which results in the customer not purchasing. The ads state “people that switch” not “everybody who quotes” save the amount stated. That is how insurance companies can make those claims. Because every company is different, it’s extremely important to compare many company’s rates. Because without a comparison, you cannot know which insurance companies will be your best fit.

Get cheaper insurance premiums by understanding these factors

Many things are used in the calculation when quoting car insurance. Some of the criteria are obvious such as traffic violations, but other criteria are more transparent like where you live or your commute time.

• See if your company offers a multi-policy discount – Most major insurers apply discounts to customers who have multiple policies with them, otherwise known as a multi-policy discount. Even if you already get this discount, consumers should still check prices from other companies to guarantee you are still saving the most.
• Liability coverage – Liability coverage will provide protection in the event that you are found liable for damages from an accident. It provides you with a defense in court to attempt to prove you were not liable. Liability insurance is quite affordable compared to physical damage coverage, so drivers should make sure they buy enough to cover all assets.
• Males tend to take more risk – Over the last 30 years, statistics show that females tend to be a little less risky than males. Now that doesn’t mean men are WORSE drivers than women. Both sexes are responsible for fender benders at a similar rate, but guys cause more damage and cost insurance companies more money. They also receive more costly citations like DWI (DUI) or reckless driving.
• Accidents mean higher premiums – Having a single driving citation may increase your cost by as much as twenty percent. Good drivers have lower premiums as compared to those with violations. Drivers who have license-revoking tickets such as DUI, reckless driving or excessive speeding may need to maintain a SR-22 with their state DMV in order to keep their license.
• Keep the miles off and save – The more miles you rack up on your Chevy annually the higher your rate. Most companies charge to insure your cars based upon how you use the vehicle. Cars that have low annual miles get more affordable rates than cars that get driven a lot. A policy that improperly rates your Silverado 2500 may be costing you. Verify your auto insurance coverage is rated on how each vehicle is driven, because it can save money.
• Married drivers pay less – Having a spouse may save some money on your auto insurance bill. It usually means you are more mature and insurance companies reward insureds because drivers who are married file infrequent claims.

Drivers save money with these premium-slashing discounts

Companies offering auto insurance do not list every disount available very clearly, so the list below contains some of the best known and also the lesser-known discounts that you can inquire about if you buy auto insurance online. If you’re not getting every credit possible, you could be saving more on your auto insurance.

• Discounts for Seat Belt Usage – Forcing all vehicle occupants to buckle their seat belts can save up to 10 percent (depending on the company) on the medical payments or PIP coverage costs.
• Life Insurance Discount – Some companies give a break if you buy life insurance from them.
• Bundled Policy Discount – When you have multiple policies and place coverage with the same company you may earn over 10 percent off each policy depending on the company.
• Safe Driver Discount – Insureds without accidents could pay up to 40% less for Silverado coverage than their less cautious counterparts.
• Telematics Discount – Drivers who agree to allow companies to spy on vehicle usage by using a telematic data system such as Progressive’s Snapshot and State Farm’s In-Drive might see lower rates if they exhibit good driving behavior.
• ABS Brakes – Cars, trucks, and SUVs equipped with ABS or steering control prevent accidents and therefore earn up to a 10% discount.

Consumers should know that most discount credits are not given to your bottom line cost. Some only reduce specific coverage prices like liability, collision or medical payments. So even though you would think you would end up receiving a 100% discount, insurance companies wouldn’t stay in business.

If you would like to see a list of auto insurance companies that offer many of these discounts, click here.

Do I need special coverages?

When buying coverage for your personal vehicles, there is no “best” method to buy coverage. Everyone’s needs are different so your insurance should reflect that For example, these questions might point out whether you will benefit from professional help.

• Why does it cost so much to insure a teen driver?
• I have health insurance so do I need medical payments coverage?
• What happens if I owe more than my 2004 Chevy Silverado 2500 is worth?
• When should I remove comp and collision on my 2004 Chevy Silverado 2500?
• Do I have coverage for damage caused while driving under the influence?
• When should I not file a claim?
• What is UM/UIM insurance?

If you can’t answer these questions but one or more may apply to you, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Coverage specifics

Understanding the coverages of your insurance policy helps when choosing the best coverages and proper limits and deductibles. Policy terminology can be confusing and reading a policy is terribly boring. Listed below are typical coverages offered by insurance companies.

Auto collision coverage

This will pay to fix damage to your Silverado 2500 from colliding with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as damaging your car on a curb, colliding with a tree and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to bring the cost down.

Comprehensive or Other Than Collision

This coverage will pay to fix damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as rock chips in glass, hitting a bird, hail damage, a broken windshield and damage from a tornado or hurricane. The most a insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills like funeral costs, prosthetic devices, surgery, doctor visits and ambulance fees. The coverages can be used to fill the gap from your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Liability insurance

Liability coverage can cover damages or injuries you inflict on a person or their property. This coverage protects you from claims by other people, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 50/100/50 that translate to $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against things like legal defense fees, attorney fees, loss of income, court costs and funeral expenses. The amount of liability coverage you purchase is your choice, but you should buy higher limits if possible.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Chevy Silverado 2500.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Take this to the bank

Budget-conscious 2004 Chevy Silverado 2500 insurance is available from both online companies and with local insurance agents, so you need to shop auto insurance with both in order to have the best price selection to choose from. Some insurance providers may not have rates over the internet and these regional carriers only sell through local independent agencies.

When buying insurance coverage, do not reduce coverage to reduce premium. Too many times, consumers will sacrifice collision coverage to discover at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to purchase plenty of coverage for the lowest cost while not skimping on critical coverages.

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

• Liability Insurance Coverage (Nationwide)
• Think You’re a Safe Driver? (State Farm)
• How Much Auto Coverage do I Need? (Insurance Information Insitute)
• Medical Payments Coverage (Liberty Mutual)
• Teen Driving Statistics (iihs.org)
• What is Full Coverage? (Allstate)