Compare 2016 Chevrolet Silverado 1500 Insurance Rates

Scraping up a payment for high-priced Chevrolet Silverado 1500 insurance can eat up your monthly budget and put the squeeze on your family’s finances. Doing a rate analysis is free, only takes a few minutes, and is a good way to ensure you are getting the best deal.

Companies like Allstate, Liberty Mutual and State Farm promote their brand names with fancy advertisements and consumers find it hard to ignore the propoganda and effectively compare rates to find the best deal.

It’s important to get comparison quotes at least once a year since prices trend upward over time. Just because you found the best price for Silverado insurance at your last renewal there is a good chance you can find better rate quotes now. Block out anything you think you know about car insurance because I’m going to teach you one of the easiest ways to properly buy coverages and cut your premium.

How to compare insurance rate quotes

There are multiple methods you can shop for insurance but there is one way that is more efficient than others. You could waste a few hours talking about coverages with insurance companies in your area, or you can stay home and use online quotes to get rate comparisons in just a few minutes.

Many of the larger companies belong to an insurance system where prospective buyers submit their information once, and every company then gives them pricing based on that information. This system prevents you from having to do quotation requests to every company.

To find out how much you can save on insurance click here (opens in new window).

One minor caviat to using this type of system is you can’t choose the providers to receive prices from. If you wish to select individual companies to compare, we have a listing of companies who write insurance in your area. Click to view list.

It’s up to you which method you use, but make sure you are using exactly the same coverage information with each company. If the quotes have different data you will not be able to make a fair comparison for your Chevy Silverado 1500.

Choices you make can impact your insurance premiums

One of the most helpful ways to save on auto insurance is to to have a grasp of some of the factors that help determine your policy premiums. If you know what impacts premium levels, this allows you to make educated decisions that could result in lower auto insurance prices. Multiple criteria are taken into consideration when you quote your car insurance policy. Some factors are common sense such as traffic violations, although some other factors are not quite as obvious like your continuous coverage or your commute time.

• Vehicles with better crash test results that cut prices – Driving a car with a theft deterrent system can help lower your premiums. Systems that thwart theives such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder your car from being stolen.
• Pleasure use or commuting – Driving a lot of miles annually the more it will cost to insure it. A lot of insurance companies charge rates based upon how much you drive. Cars and trucks that are left in the garage cost less to insure as compared to vehicles used primarily for driving to work. An improperly rated Silverado 1500 is throwing money out the window. It’s a good idea to make sure your policy states the correct driver usage.
• Save money by raising coverage deductibles – Physical damage deductibles are how much you are willing to pay in the event of a claim. Physical damage insurance, also called comprehensive and collision insurance, covers damage that occurs to your car. Examples of covered claims are rearending another vehicle, damage caused by hail, or theft of your vehicle. The higher the amount you’re willing to pay, the lower your rates will be for Silverado insurance.
• Which gender costs less? – The statistics show women are more cautious behind the wheel. However, this does not mean men are WORSE drivers than women. Females and males are responsible for fender benders in similar percentages, but guys get into accidents with more damage. They also get higher numbers of serious violations like reckless driving and DUI. Male teenagers are most likely to cause an accident so it costs more to insure them.

Use discounts on insurance

Car insurance can cost a lot, but companies offer discounts that many people don’t even know exist. Certain reductions will be credited when you get a quote, but some may not be applied and must be specifically requested before being credited.

• 55 and Retired – If you qualify as a senior citizen, you are able to get reduced rates for Silverado insurance.
• Safety Course Discount – Successfully completing a course teaching safe driver skills can save you 5% or more and also improve your driving technique.
• Low Mileage – Driving fewer miles may enable drivers to earn lower insurancerates due to less chance of an accident.
• Discounts for Multiple Vehicles – Purchasing coverage when you have multiple cars or trucks on a single policy can reduce the rates for all insured vehicles.
• Life Insurance Discount – Insurance companies who offer life insurance give a discounted premium rate on car insurance if you buy life insurance.
• Passive Restraints and Air Bags – Cars that have air bags or motorized seat belts can get savings of 20% or more.

Discounts save money, but please remember that most credits do not apply to the overall cost of the policy. Most cut specific coverage prices like liability and collision coverage. So when the math indicates you could get a free insurance policy, it doesn’t quite work that way.

Companies that may offer policyholders some of the above discounts include:

• State Farm
• Farmers Insurance
• Geico
• American Family
• Nationwide
• Progressive

Before buying, ask every prospective company how many discounts you can get. Some discounts listed above might not be offered on policies in your area. If you would like to view insurers that offer discounts, click here to view.

Tailor your car insurance coverage to you

When buying coverage, there isn’t really a single plan that fits everyone. Everyone’s situation is unique so your insurance needs to address that. For instance, these questions could help you determine if your situation would benefit from professional advice.

• At what point should I drop full coverage?
• When would I need additional glass coverage?
• What can I do if my company denied a claim?
• What if I don’t agree with a claim settlement offer?
• Will filing a claim cost me more?
• What is an SR-22 filing?
• How do I buy GAP insurance?
• Am I missing any policy discounts?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and can provide invaluable advice.

Car insurance coverages for a 2016 Chevy Silverado 1500

Understanding the coverages of insurance can help you determine which coverages you need for your vehicles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find the usual coverages available from insurance companies.

Collision insurance

This coverage covers damage to your Silverado 1500 resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims like hitting a mailbox, damaging your car on a curb, colliding with another moving vehicle and scraping a guard rail. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. You can also increase the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your 2016 Chevy Silverado 1500.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for things like X-ray expenses, prosthetic devices, doctor visits, dental work and surgery. They can be used to fill the gap from your health insurance program or if you are not covered by health insurance. Coverage applies to you and your occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not available in all states and may carry a deductible

Liability insurance

This can cover damage that occurs to a person or their property that is your fault. This coverage protects you against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 100/300/100 that translate to $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.

Liability insurance covers claims such as repair bills for other people’s vehicles, attorney fees and medical services. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford.

Comprehensive coverage

This covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as rock chips in glass, hitting a deer, fire damage and falling objects. The most you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Find Good Coverage for Less

When trying to cut insurance costs, it’s not a good idea to buy poor coverage just to save money. There are too many instances where an accident victim reduced liability limits or collision coverage only to find out that a couple dollars of savings turned into a financial nightmare. Your goal should be to buy the best coverage you can find for the lowest cost while still protecting your assets.

Lower-priced 2016 Chevy Silverado 1500 insurance can be sourced on the web and also from your neighborhood agents, and you need to price shop both to have the best selection. A few companies do not offer online rate quotes and these smaller companies sell through local independent agencies.

Additional information

• Airbag FAQ (iihs.org)
• Who Has Cheap Auto Insurance Rates for a Chevrolet Silverado in Miami? (MiamiCoverage.com)
• What Auto Insurance is Cheapest for a Chevrolet Silverado in Las Vegas? (LasVegasInsure.com)
• Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
• Teen Driver Licensing Information (iihs.org)
• Collision Insurance Coverage (Nationwide)
• Can I Drive Legally without Insurance? (Insurance Information Insitute)