Lower Your 2001 Chevrolet Silverado 1500 Insurance Rates

Nobody I know fancies paying their premiums for auto insurance, especially when they are aware that their premiums are too high. Lots of car insurance companies contend to insure your vehicles, so it’s not easy to compare every insurance company to discover the definitive lowest rate

If you have insurance now or need a new policy, you can learn to cut your premiums while maintaining coverages. Finding affordable coverage is quite easy. Drivers just need to learn the tricks to compare rates online.

The easiest way to get rate comparisons is to understand most of the bigger providers provide online access to give rate comparisons. All you need to do is take a few minutes to give details like what your job is, if a SR-22 is required, how much you drive, and how your vehicles are used. Your insurance information is sent automatically to many of the top insurers and you get price estimates quickly.

Use discounts to get cheaper insurance quotes

Car insurance is not cheap, but you can get discounts that can drop the cost substantially. A few discounts will be applied at the time of quoting, but some may not be applied and must be manually applied prior to getting the savings. If you aren’t receiving every discount you deserve, you are just wasting money.

  • Good Grades Discount – Performing well in school can earn a discount of 20% or more. You can use this discount normally well after school through age 25.
  • Accident Forgiveness – This one is not really a discount per se, but some insurance companies will turn a blind eye to one accident before raising your premiums as long as you don’t have any claims for a particular time prior to the accident.
  • Defensive Driving Course – Taking a course in defensive driving could save 5% or more and easily pay for the cost of the class.
  • Low Mileage Discounts – Low annual miles may enable drivers to earn cheaper premium rates.
  • Theft Prevention Discount – Cars, trucks, and SUVs that have factory anti-theft systems can help prevent theft and that can save you a little bit as well.

As a disclaimer on discounts, most discounts do not apply the the whole policy. Most cut specific coverage prices like medical payments or collision. So when it seems like you can get free auto insurance, companies wouldn’t make money that way.

A few companies that may offer policyholders most of these discounts include:

If you want the cheapest insurance quotes, ask each company how many discounts you can get. Some credits may not apply to policyholders in every state. To locate providers with the best discounts, click this link.

Five things that affect your insurance prices

Part of the insurance coverage buying process is learning the different types of things that come into play when calculating your policy premiums. When you understand what positively or negatively impacts your premiums, this allows you to make educated decisions that could help you find lower premium levels.

The following are some of the most rate-impacting factors used by companies to determine your rates.

  • Insurance is expensive for teen drivers – Drivers with little experience are statistically proven to be careless and easily distracted when behind the wheel and because of this, their insurance coverage rates are much higher. More experienced drivers tend to be more responsible, are lower risk to insure , and usually have better credit.
  • Add-on coverages can add up – There are a lot of add-on coverages that can add up if you aren’t careful. Insurance for things like vanishing deductibles, high-cost glass coverage, and membership fees may be wasting your money. The coverages may be enticing when discussing your needs, but your needs may have changed so think about removing them and cutting costs.
  • Don’t skimp on liability protection – Your insurance coverage policy’s liability coverage is the coverage that protects you when you are found to be at fault for causing personal injury or damage in an accident. It provides legal defense which can be incredibly expensive. Liability is cheap when compared with rates for comp and collision, so drivers should make sure they buy enough to cover all assets.
  • Get hitched and pay less – Having a significant other may save some money on your policy. Marriage demonstrates that you tend to be more stable financially and it’s statistically proven that drivers who are married file infrequent claims.
  • Does car insurance cost more for guys? – Over the last 50 years, statistics have shown that females take fewer risks when driving. However, don’t assume that males are worse at driving than females. Females and males are in at-fault accidents in similar numbers, but the men get into accidents with more damage. In addition to higher claims, males also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.

Tailor your auto insurance coverage to you

When buying the best auto insurance coverage for your personal vehicles, there really is no best way to insure your cars. Everyone’s situation is unique so your insurance needs to address that. For example, these questions might point out if you may require specific advice.

  • Do I need PIP (personal injury protection) coverage in my state?
  • Do I have coverage when using my vehicle for my home business?
  • Do I really need UM/UIM coverage?
  • What are the financial responsibility laws in my state?
  • Can I still get insurance after a DUI?
  • Do I need rental car coverage?
  • Why does it cost so much to insure a teen driver?
  • Does my policy pay for OEM or aftermarket parts?
  • Do I need motorclub coverage?

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area. It is quick, free and can help protect your family.

Detailed coverages of your car insurance policy

Having a good grasp of car insurance helps when choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and coverage can change by endorsement. These are the normal coverages offered by car insurance companies.

Auto liability

This coverage will cover damage or injury you incur to people or other property in an accident. This insurance protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 100/300/100 that means you have a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage protects against things like court costs, attorney fees, repair bills for other people’s vehicles, loss of income and funeral expenses. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as large an amount as possible.

Medical costs insurance

Medical payments and Personal Injury Protection insurance kick in for bills like chiropractic care, X-ray expenses, pain medications and doctor visits. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Auto collision coverage

This covers damage to your Silverado 1500 resulting from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against things such as driving through your garage door, hitting a parking meter and crashing into a building. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. You can also choose a higher deductible to bring the cost down.

Comprehensive or Other Than Collision

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims such as falling objects, theft, vandalism, hitting a deer and hail damage. The highest amount a car insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

UM/UIM Coverage

Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants as well as damage to your Chevy Silverado 1500.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.

Be a smart shopper

As you prepare to switch companies, don’t be tempted to reduce needed coverages to save money. In many cases, an insured dropped full coverage and found out when filing a claim that the small savings ended up costing them much more. Your goal is to get the best coverage possible at the lowest possible cost, but do not skimp to save money.

We’ve covered a lot of tips how to lower your 2001 Chevy Silverado 1500 insurance prices. The key thing to remember is the more providers you compare, the better likelihood of getting cheaper insurance. You may be surprised to find that the best price on insurance is with a small mutual company. These companies may only write in your state and offer lower rates as compared to the big name companies such as Geico and State Farm.

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