How Much Does 2012 Chevrolet Silverado 1500 Insurance Cost?

Want cheaper auto insurance rates for your Chevrolet Silverado 1500? I can’t think of anyone who enjoys paying for auto insurance, particularly when the cost is way too high. Vehicle owners have many car insurance companies to purchase coverage from, and although it’s a good thing to have a selection, it can be more challenging to find the lowest cost provider.

Consumers should take time to compare prices yearly due to the fact that insurance prices change regularly. Just because you found the lowest rates for Silverado insurance on your last policy you can probably find a lower rate today. There is a lot of bad information regarding auto insurance out there, but you can learn the best ways to find affordable auto insurance.

The Chevy Silverado 1500 insurance rate equation

Many different elements are used when premium rates are determined. Some of the criteria are obvious like an MVR report, but others are not as apparent such as your credit history or your commute time.The best way to find cheaper insurance is to take a look at the rating factors that go into determining the level of your policy premiums. When consumers understand what impacts premium levels, this helps enable you to make changes that may reward you with better insurance rates.

• Rates are affected by your address – Having an address in less populated areas may provide you with better prices when buying insurance. Urban drivers have to deal with more aggressive driving styles and more severe claims. Fewer drivers on the road means less chance of accidents and a lower car theft rate.
• Driver age impacts premiums – Teenage drivers are proven to be less responsible when behind the wheel so insurance rates are higher. Older insureds are viewed as being more responsible, are lower risk to insure and tend to be get fewer driving tickets.
• Are you male or female? – Statistics show women are more cautious behind the wheel. This data doesn’t prove that women are better drivers. Males and females are responsible for auto accidents at about the same rate, but the males tend to have more serious accidents. In addition to higher claims, males also receive more major tickets such as driving while intoxicated (DWI) or driving recklessly.
• Advanced alarms and GPS tracking – Owning a car with advanced anti-theft systems can help bring down rates. Advanced theft deterrents like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help prevent auto theft and help lower rates.
• Cars with good safety ratings cost less to insure – Cars with high safety ratings cost less to insure. Highly rated vehicles result in less severe injuries and fewer serious injuries means your insurance company pays less and more competitive rates for policyholders.
• Bundle policies to earn discounts – Some insurance companies will award lower prices for people who buy several policies from them, otherwise known as a multi-policy discount. Discounts can be five, ten or even twenty percent. Even if you qualify for this discount already, it’s in your best interest to compare other insurance prices to ensure the best deal.There is a chance you can save even more than the discount by splitting coverages up.
• Know your credit rating – Having a bad credit history is a large factor in determining premium rates. People that have high credit scores tend to be better drivers and file fewer claims than drivers with lower credit ratings. If your credit rating can be improved, you could save money insuring your 2012 Chevrolet Silverado 1500 by improving your credit score.
• Frequent policy claims will cost more – If you are a frequent claim filer, you can expect higher premiums or even policy non-renewal. Auto insurance companies award cheaper rates to drivers who do not rely on their insurance for small claims. Your car insurance is intended to be relied upon for the large, substantial claims.

Discounts can really help lower premiums

The price of auto insurance can be rather high, but companies offer discounts that may help make it more affordable. Some discounts will apply when you complete an application, but a few must be inquired about in order for you to get them.

• Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to wear their seat belts could save 15% off the PIP or medical payment premium.
• Homeowners Pay Less – Owning your own home or condo may earn you a small savings because maintaining a house is proof of financial responsibility.
• Bundle and Save – When you combine your auto and home insurance and insure them with the same company you could earn a discount of up to 20% off your total premium.
• Driver Training Discounts – Passing a driver safety course is a good idea and can lower rates and easily recoup the cost of the course.
• Payment Method – If paying your policy premium upfront as opposed to paying monthly you can avoid monthly service charges.
• Save with More Vehicles Insured – Buying insurance for multiple cars or trucks with the same insurance company can get a discount on all vehicles.

Keep in mind that most discounts do not apply to your bottom line cost. A few only apply to the cost of specific coverages such as medical payments or collision. So despite the fact that it appears all those discounts means the company will pay you, you won’t be that lucky.

A list of insurance companies and their offered discounts are:

• State Farm offers discounts for multiple autos, passive restraint, safe vehicle, driver’s education, defensive driving training, and multiple policy.
• Geico offers discounts including emergency military deployment, anti-theft, anti-lock brakes, daytime running lights, membership and employees, and federal employee.
• Progressive has discounts for online signing, continuous coverage, online quote discount, homeowner, multi-vehicle, multi-policy, and good student.
• 21st Century policyholders can earn discounts including air bags, theft prevention, teen driver, automatic seat belts, student driver, anti-lock brakes, and good student.
• American Family may have discounts that include defensive driver, multi-vehicle, accident-free, Steer into Savings, air bags, and good driver.
• The Hartford discounts include bundle, vehicle fuel type, anti-theft, air bag, and good student.
• AAA may include discounts for pay-in-full, multi-policy, education and occupation, AAA membership discount, anti-theft, good driver, and good student.

Before buying, ask each insurance company to apply every possible discount. Some of the discounts discussed earlier may not be offered in your area. To view providers that provide some of the discounts listed above, click this link.

Car insurance advertisements

Consumers can’t get away from all the ads that claim the best rates from the likes of Progressive, Allstate and Geico. All the ads make the same claim about savings if you get a free insurance coverage quote and switch to their company.

How is it possible that every company can sell you cheaper insurance coverage? This is the way they can do it.

All companies offer their best rates for a prospective insured that will be a good risk. One example of a profitable insured might be described as a married male, has no driving citations, and drives a vehicle with a low ISO rating. Any new insured who fits that profile receives the best auto insurance rates and therefore will pay quite a bit less when switching companies.

Potential insureds who don’t measure up to this stringent profile will see higher rates and ends up with business going elsewhere. The wording the ads use say “people who switch” not “everyone that quotes” save money. That’s the way insurance companies can state the savings. That is why you really need to get insurance coverage quotes from several different companies. You cannot predict which insurance companies will fit you best based on your risk profile.

Will just any policy work for me?

When choosing adequate coverage for your personal vehicles, there isn’t really a best way to insure your cars. Everyone’s situation is unique so this has to be addressed. For example, these questions may help highlight whether your personal situation would benefit from professional advice.

• Do I have coverage for damage caused while driving under the influence?
• If my 2012 Chevy Silverado 1500 is totaled, can I afford another vehicle?
• Does my car insurance cover rental cars?
• Should I buy additional glass protection?
• Do I need PIP (personal injury protection) coverage in my state?
• What is covered by UM/UIM coverage?
• Is my dog or cat covered if injured in an accident?

If it’s difficult to answer those questions, then you may want to think about talking 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, doesn’t cost anything and can provide invaluable advice.

Insurance coverage considerations

Knowing the specifics of your insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. Policy terminology can be ambiguous and reading a policy is terribly boring. Shown next are the usual coverages available from insurance companies.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as a broken windshield, fire damage and rock chips in glass. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Collision coverages – Collision coverage will pay to fix damage to your Silverado 1500 caused by collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as driving through your garage door, rolling your car, damaging your car on a curb, scraping a guard rail and hitting a parking meter. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. Drivers also have the option to increase the deductible to bring the cost down.

Liability car insurance – Liability coverage provides protection from damage that occurs to other people or property. It protects you against claims from other people. It does not cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 50/100/50 that means you have a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.

Liability coverage pays for things such as court costs, structural damage, repair costs for stationary objects, emergency aid and attorney fees. How much liability coverage do you need? That is your choice, but buy as much as you can afford.

Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.

Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea.

Insurance for medical payments – Medical payments and Personal Injury Protection insurance provide coverage for expenses for things like dental work, hospital visits, doctor visits and rehabilitation expenses. They are often utilized in addition to your health insurance program or if you do not have health coverage. It covers both the driver and occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Knowledge is power

As you quote insurance coverage, it’s very important that you do not skimp on coverage in order to save money. In many instances, drivers have reduced comprehensive coverage or liability limits only to discover later that a couple dollars of savings turned into a financial nightmare. Your strategy should be to buy enough coverage for the lowest cost but still have enough coverage for asset protection.

Cheaper insurance coverage can be bought on the web in addition to many insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. A few companies don’t offer rate quotes online and most of the time these regional carriers prefer to sell through local independent agents.

Helpful articles

• Rollover Crash FAQ (iihs.org)
• Learn About Car Insurance (Geico)
• Understanding Limits and Deductibles (Allstate)
• All About Airbag Safety (State Farm)
• What Does No-Fault Insurance Cover? (Allstate)