2011 Chevrolet Silverado 1500 Insurance Cost

Want lower insurance coverage rates for your Chevrolet Silverado 1500? Did budget coverage turn out to be high-priced insurance coverage? Trust us when we tell you you’re not alone. Due to the fact that there are so many options, it’s nearly impossible to find the right insurance coverage company.

Insurance policy discounts

Insurance is not inexpensive, but there’s a good chance there are discounts that you may not know about. Some discounts will apply at quote time, but some discounts are required to be asked about prior to getting the savings. If you aren’t receiving every discount you qualify for, you are not getting the best rate possible.

• Own a Home – Owning a home can get you a discount because owning a home requires personal responsibility.
• Paperwork-free – A few larger online companies may give you up to $50 for signing up over the internet.
• Multi-car Discount – Having more than one vehicle with the same company can get a discount on all vehicles.
• Discount for Multiple Policies – If you can bundle your home and auto insurance and insure them both with the same insurance company you could save nearly 15% which can help you find cheaper insurance coverage.
• Discounts for Safe Drivers – Insureds without accidents can pay as much as 50% less for Silverado coverage as compared to drivers with claims.
• Military Deployment Discount – Being deployed in the military could mean lower rates.
• Auto/Life Discount – Not every insurance company offers life insurance, but if they do you may earn better premium rates if you take out a life insurance policy as well.
• Seat Belt Discounts – Forcing all vehicle occupants to buckle up before driving can save up to 15% off the personal injury premium cost.
• Drive Less and Save – Low annual miles could be rewarded with discounted prices on garaged vehicles.
• First Accident Forgiveness – Not necessarily a discount, but companies like Geico and Liberty Mutual allow you one accident before hitting you with a surcharge as long as you don’t have any claims for a particular time prior to the accident.

While discounts sound great, it’s important to understand that some of the credits will not apply to the entire policy premium. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like it’s possible to get free car insurance, you’re out of luck. Any amount of discount should definitely cut the premium cost.

Large insurance companies and some of their more popular discounts are detailed below.

• Geico has savings for defensive driver, air bags, anti-lock brakes, federal employee, emergency military deployment, and anti-theft.
• MetLife discounts include multi-policy, claim-free, good student, accident-free, good driver, and defensive driver.
• Progressive offers discounts for good student, online quote discount, continuous coverage, multi-vehicle, and homeowner.
• Travelers may offer discounts for hybrid/electric vehicle, continuous insurance, driver training, multi-car, and IntelliDrive.
• SAFECO may have discounts that include anti-theft, accident prevention training, bundle discounts, safe driver, drive less, and teen safe driver.
• AAA offers premium reductions for AAA membership discount, anti-theft, multi-car, education and occupation, good student, good driver, and pay-in-full.

When getting a coverage quote, ask all the companies to apply every possible discount. Some of the discounts discussed earlier might not be offered in every state. To find insurance companies with significant discounts, follow this link.

How do I know if I need professional advice?

When it comes to buying the right insurance coverage, there isn’t really a one size fits all plan. Your needs are not the same as everyone else’s so your insurance should reflect that For instance, these questions can help discover whether you would benefit from an agent’s advice.

• Do I need an umbrella policy?
• How much underlying liability do I need for an umbrella policy?
• Can I still get insurance after a DUI?
• Do I need PIP coverage since I have good health insurance?
• Can I drive in Mexico and have coverage?
• Why do I only qualify for high-risk insurance?
• Am I covered when driving on a suspended license?

If you don’t know the answers to these questions then you might want to talk to a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier It’s fast, free and can help protect your family.

But the ad said I’d save 15% in 15 minutes!

Consumers can’t avoid all the ads that promise big savings by Allstate and Progressive. All the ads make the point that people will save if you get a free insurance coverage quote and switch to them.

How is it possible that every company can lower your rates?

Car insurance companies give the cheapest rates for the type of driver that will be a good risk. For instance, a profitable customer might be described as between the ages of 30 and 50, has a clean driving record, and drives less than 7,500 miles a year. A customer getting a price quote who matches those parameters receives the best rates and will save quite a bit of money when switching.

Potential customers who are not a match for these stringent criteria will be charged higher premiums and ends up with the customer not purchasing. The ads say “drivers who switch” not “everyone that quotes” save that kind of money. That’s why companies can state the savings.

This really emphasizes why you really need to compare free insurance coverage quotes often. It’s impossible to know with any certainty which company will have the lowest rates.

Car insurance coverage basics

Understanding the coverages of your policy helps when choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be confusing and nobody wants to actually read their policy. Shown next are typical coverages found on most car insurance policies.

Liability auto insurance

This provides protection from damage that occurs to other people or property that is your fault. This insurance protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 100/300/100 that means you have a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Occasionally you may see a combined single limit or CSL which provides one coverage limit and claims can be made without the split limit restrictions.

Liability can pay for things such as repair costs for stationary objects, structural damage, loss of income and court costs. How much liability should you purchase? That is your choice, but buy as large an amount as possible.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your Chevy Silverado 1500.

Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important. Usually these limits are set the same as your liablity limits.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP reimburse you for expenses such as dental work, surgery and pain medications. The coverages can be used to fill the gap from your health insurance plan or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants and will also cover any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Collision coverage

This pays for damage to your Silverado 1500 resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like hitting a parking meter, crashing into a ditch, colliding with another moving vehicle and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to increase the deductible to bring the cost down.

Comprehensive insurance

Comprehensive insurance coverage covers damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as damage from a tornado or hurricane, fire damage and a broken windshield. The maximum amount a car insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

In Summary

As you restructure your insurance plan, never buy less coverage just to save a little money. There have been many situations where an insured dropped liability limits or collision coverage only to discover later that a couple dollars of savings turned into a financial nightmare. Your aim should be to purchase a proper amount of coverage at a price you can afford while still protecting your assets.

We just showed you some good ideas how you can shop for 2011 Chevy Silverado 1500 insurance online. It’s most important to understand that the more you quote insurance coverage, the better your chances of lowering your rates. Consumers could even find that the best price on car insurance is with some of the smallest insurance companies. These companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm, Geico and Nationwide.

More detailed car insurance information is located by following these links:

• Drunk Driving Statistics (Insurance Information Insitute)
• Help Your Teen Be a Better Driver (State Farm)
• All About Airbag Safety (State Farm)
• Teen Driver Statistics (Insurance Information Insitute)