2006 Chevrolet Silverado 1500 Insurance Cost

Looking for cheaper insurance rates for your Chevrolet Silverado 1500? No car owner anticipates paying for insurance, in particular when they are paying too much.

Due to the fact that there are so many insurance companies to choose from, it’s difficult to choose a lower cost insurance company.

It’s smart to quote other rates before your next renewal due to the fact that insurance prices change regularly. Even if you think you had the best deal on Silverado insurance last year you will most likely find a better premium rate today. Block out anything you think you know about insurance because you’re about to learn how to use online quotes to find better coverage at a better price.

Learn how to get insurance cheaper

Lots of factors are used in the calculation when you quote your car insurance policy. Some of the criteria are obvious such as your driving history, but some are not quite as obvious like your vehicle usage or your financial responsibility.An important part of buying insurance is that you know the different types of things that are used to determine insurance rates. When you understand what impacts premium levels, this enables you to make decisions that may reward you with better insurance rates.

The factors shown below are a partial list of the pieces used by your company to calculate your prices.

  • Job can influence rates – Did you know your insurance rates can be affected by your occupation? Jobs such as judges, executives and stock brokers generally have higher premium rates because of intense work-related stress and long work days. Other jobs like actors, historians and retirees generally pay rates lower than average on Silverado insurance.
  • Gender and insurance coverage rates – Statistics have proven that females take fewer risks when driving. However, this does not mean women are BETTER drivers than men. Females and males cause fender benders at about the same rate, but the men get into accidents with more damage. Men also receive more costly citations such as reckless driving. Males from age 16 to 21 generally have the highest accident percentage and therefore pay the highest rates.
  • Youthful drivers cost more – Youthful drivers are statistically shown to be careless and easily distracted behind the wheel and because of this, their insurance rates are much higher. Older people are more responsible, are lower risk to insure and are safer drivers.
  • High coverage deductibles reduce premiums – The deductibles define how much you are required to spend if you file a covered claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some examples of claims that would be covered are colliding with a stationary object, hail damage, and damage caused by road hazards. The more of the claim you pay before a claim is paid (deductible), the bigger discount you will receive on Silverado insurance.
  • Do you have enough liability coverage? – Liability insurance will provide protection when you are responsible for physical damage or personal injury to other. Your liability coverage provides legal defense coverage which can be incredibly expensive. It is affordable coverage as compared to coverage for physical damage, so drivers should buy more than the minimum limits required by law.
  • Consolidate policies and save money – Many companies apply discounts to clients that purchase more than one policy such as combining an auto and homeowners policy. Discounts can be ten or even up to twenty percent in some cases. Even though this discount sounds good, drivers will still want to comparison shop to help ensure you have the lowest rates.
  • Avoid policy lapses – Not having insurance can get you a ticket and your next policy will cost more because you let your insurance lapse. Not only will you pay more, getting caught without coverage will get you a steep fine or even jail time. You may need to provide proof of insurance in the form of an SR-22 filing with your state motor vehicle department.

Buy insurance coverage online

Comparing insurance coverage rates can be challenging if you don’t utilize the fastest way to get free quotes. You could spend the better part of a day talking to local insurance agents in your area, or you can stay home and use the web for quick rates.

Many companies participate in an industry program where insurance shoppers enter their coverage request one time, and each company returns a competitive quote based on the submitted data. This saves time by eliminating form submissions for each company you want a rate for.

To find out how much you’re overpaying now click here to start a free quote.

The only downside to pricing coverage this way is you don’t know exactly the providers to get pricing from. So if you prefer to choose from a list of companies to compare, we have a listing of low cost insurance coverage companies in your area. Click here to view list.

Take whichever approach you prefer, but make absolute certain that you use apples-to-apples coverage limits and deductibles on every price quote you get. If your comparisons have mixed coverages you will not be able to get a fair rate comparison. Just slight variations in coverage limits may cause a big price difference. And when comparing insurance coverage rates, know that comparing a wide range of rates provides better odds of finding the best offered rates.

Lower-cost insurance quotes with discounts

Insurance is neither fun to buy or cheap, but there could be significant discounts that you may not even know about. Most are applied at the time of quoting, but a few need to be asked about prior to getting the savings.

  • Theft Deterent System – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and earn discounts up to 10% off your car insurance quote.
  • Paperless Signup – Some insurance companies provide a small discount for signing up on the web.
  • Low Mileage – Driving fewer miles could be rewarded with lower premium rates due to less chance of an accident.
  • Telematics Data – Drivers that enable driving data collection to look at driving patterns through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates as long as they are good drivers.
  • Drivers Ed for Students – Teen drivers should successfully complete driver’s ed class as it will make them better drivers and lower rates.

Don’t be shocked that some of the credits will not apply the the whole policy. Some only apply to the cost of specific coverages such as liability, collision or medical payments. So when it seems like adding up those discounts means a free policy, insurance companies wouldn’t stay in business.

The best insurance companies and some of their more popular discounts are:

  • Progressive offers discounts including continuous coverage, homeowner, good student, online quote discount, and multi-policy.
  • SAFECO has savings for multi-car, anti-lock brakes, bundle discounts, homeowner, drive less, accident prevention training, and anti-theft.
  • American Family offers premium reductions for air bags, good driver, multi-vehicle, TimeAway discount, bundled insurance, defensive driver, and early bird.
  • MetLife discounts include good driver, accident-free, good student, claim-free, and multi-policy.
  • Geico offers discounts for anti-theft, emergency military deployment, daytime running lights, five-year accident-free, federal employee, and defensive driver.
  • The Hartford has discounts for anti-theft, good student, bundle, vehicle fuel type, and air bag.

When quoting, ask all the companies which discounts you may be entitled to. Depending on the company, some discounts might not be available to policyholders in every state. To see a list of insurers who offer online insurance quotes, click here to view.

Tailor your insurance coverage to you

When it comes to buying proper insurance coverage for your vehicles, there really is not a one size fits all plan. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. These are some specific questions can aid in determining if you would benefit from an agent’s advice.

  • Is my vehicle covered by my employer’s policy when using it for work?
  • Exactly who is provided coverage by my policy?
  • Am I covered if hit by an uninsured driver?
  • Do I need more liability coverage?
  • What are the financial responsibility laws in my state?
  • When should I buy a commercial auto policy?
  • Do I need higher collision deductibles?
  • Should I get collision insurance on every vehicle?
  • What are the best liability limits?
  • Am I better off with higher deductibles on my 2006 Chevy Silverado 1500?

If you’re not sure about those questions but a few of them apply then you might want to talk to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies.

Auto insurance coverage information

Learning about specific coverages of car insurance aids in choosing the right coverages for your vehicles. Policy terminology can be confusing and reading a policy is terribly boring. Shown next are the usual coverages found on the average car insurance policy.

Uninsured or underinsured coverage

Your UM/UIM coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked. Usually these coverages are identical to your policy’s liability coverage.

Auto collision coverage

Collision coverage covers damage to your Silverado 1500 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 coverage protects against things such as colliding with a tree, colliding with another moving vehicle, hitting a parking meter and hitting a mailbox. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to increase the deductible to get cheaper collision coverage.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like chiropractic care, hospital visits, surgery, EMT expenses and doctor visits. The coverages can be used in conjunction with a health insurance plan or if you do not have health coverage. They cover you and your occupants in addition to any family member struck as a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive protection

Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like damage from a tornado or hurricane, hail damage, a tree branch falling on your vehicle and damage from getting keyed. The maximum payout your car insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Liability car insurance

Liability coverage provides protection from damages or injuries you inflict on other’s property or people in an accident. It protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 50/100/50 which means $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery. Another option is one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability can pay for things like court costs, repair costs for stationary objects, legal defense fees, medical services and bail bonds. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as much as you can afford.

Coverage on a shoestring budget

Some insurance providers may not offer rate quotes online smaller companies only sell coverage through local independent agencies. Cheaper auto insurance is definitely available on the web and also from your neighborhood agents, so you need to compare both so you have a total pricing picture.

We covered a lot of techniques to compare 2006 Chevy Silverado 1500 insurance rates online. The most important thing to understand is the more quotes you get, the better chance you’ll have of finding affordable car insurance. Consumers may even find the best price on auto insurance is with a small local company. These companies may have significantly lower car insurance rates on certain market segments than the large multi-state companies such as Allstate and Progressive.

As you prepare to switch companies, it’s a bad idea to sacrifice coverage to reduce premiums. There are a lot of situations where drivers have reduced comprehensive coverage or liability limits to discover at claim time that the savings was not a smart move. The goal is to buy a smart amount of coverage at a price you can afford, not the least amount of coverage.

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