Save on 2007 Chevrolet Silverado 1500 Insurance Quotes

Trying to find cheaper insurance rates for your Chevrolet Silverado 1500? Vehicle owners new to comparing auto insurance rates on the web can find purchasing the cheapest insurance coverage is more work than they thought.

It’s a good habit to compare premium rates on a regular basis because insurance prices trend upward over time. Even if you think you had the lowest price on Silverado coverage at your last renewal the chances are good that you can find a lower rate today. There is a lot of wrong information about insurance online, but we’re going to give you some good information on how to lower your insurance premiums.

Informed consumers can slash their insurance costs

One of the most helpful ways to save on insurance coverage is to to have a grasp of some of the things that help calculate your insurance coverage rates. If you understand what influences your rates, this allows you to make educated decisions that will entitle you to better insurance coverage rates. Multiple criteria are taken into consideration when pricing auto insurance. Some are pretty understandable like an MVR report, but others are more transparent such as your marital status and annual miles driven.

  • How your age affects costs – Beginning drivers are statistically proven to be inattentive when driving with friends and because of this, their insurance coverage rates are much higher. More mature drivers have been proven to be more responsible, tend to cause fewer accidents , and usually have better credit.
  • Too many insurance claims will drive premiums up – If you tend to file frequent claims, don’t be surprised to see higher rates. Auto insurance companies generally give discounts to drivers who file claims infrequently. Your car insurance is meant to be used in the event of major claims that would cause financial hardship.
  • High credit scores equal low premiums – Having a bad credit score factor in your rate calculation. People that have high credit scores tend to be more responsible and file fewer claims than those with lower ratings. If your credit history is low, you could potentially save money when insuring your 2007 Chevrolet Silverado 1500 by spending a little time repairing your credit.
  • Bundle policies with the same company – Many insurance companies give better rates to policyholders that buy multiple policies such as combining an auto and homeowners policy. Even with this discount applied, it’s always a smart idea to compare rates to guarantee you are still saving the most.There is a chance you can save more without the discount even if you have your coverage with different companies
  • Tickets drive up prices – A bad driving record influences premium rates substantially. Just one speeding ticket can boost insurance rates forty percent or more. Careful drivers get better prices compared to drivers with tickets. Drivers who have gotten severe tickets like reckless driving or DUI might be required by their state to complete a SR-22 to the state department of motor vehicles in order to prevent their license from being revoked.
  • Your spouse saves you money – Being married can actually save you money compared to being single. It is viewed as being more responsible it has been statistically shown that married drivers get in fewer accidents.

Auto insurance policy discounts you can’t miss

Car insurance companies don’t list all their discounts in a way that’s easy to find, so the list below gives a summary of some of the more common and the harder-to-find credits available to bring down your rates.

  • Safety Restraint Discount – Requiring all passengers to use their safety belts can save up to 15% off the personal injury premium cost.
  • Employee of Federal Government – Employees or retirees of the government could cut as much as 10% off on Silverado coverage with a few auto insurance companies.
  • Waiver for an Accident – This one is not really a discount per se, but companies like Liberty Mutual and Geico will forgive one accident without getting socked with a rate hike if you have no claims prior to being involved in the accident.
  • Theft Prevention System – Cars, trucks, and SUVs equipped with anti-theft or alarm systems are stolen with less frequency and can earn a small discount on your policy.
  • Include Life Insurance and Save – Select insurance carriers reward you with a break if you buy life insurance from them.
  • Distant Student Discount – Children who are enrolled in a college that is more than 100 miles from home and do not take a car to college may be able to be covered for less.
  • Pay Upfront and Save – If you can afford to pay the entire bill rather than spreading payments over time you can avoid the installment charge.
  • Defensive Driver Discounts – Taking a course teaching defensive driver skills may get you a small discount and easily recoup the cost of the course.
  • Bundle and Save – If you have multiple policies with the same insurance company you could earn a discount of 10% to 20% off each policy.
  • Low Mileage – Fewer annual miles on your Chevy could qualify for discounted premium rates on garaged vehicles.

Keep in mind that most credits do not apply to all coverage premiums. A few only apply to specific coverage prices like medical payments or collision. Even though it appears you would end up receiving a 100% discount, insurance companies wouldn’t stay in business.

A list of companies and a summarized list of policyholder discounts include:

  • Progressive has discounts for multi-policy, online quote discount, online signing, continuous coverage, multi-vehicle, and good student.
  • SAFECO has savings for drive less, teen safety rewards, bundle discounts, safe driver, accident prevention training, anti-lock brakes, and teen safe driver.
  • American Family offers discounts for mySafetyValet, multi-vehicle, good student, bundled insurance, early bird, good driver, and accident-free.
  • MetLife discounts include accident-free, defensive driver, good driver, good student, and claim-free.
  • Geico offers discounts including seat belt use, air bags, membership and employees, emergency military deployment, five-year accident-free, driver training, and defensive driver.
  • The Hartford includes discounts for defensive driver, air bag, vehicle fuel type, bundle, good student, and anti-theft.

Before buying, ask every company how many discounts you can get. All car insurance discounts might not be offered in your state.

Is there deception in advertising?

State Farm, Geico and Progressive consistently run ads on TV and radio. All the ads convey the message that drivers can save some big amount if you just switch your coverage. How does every auto insurance company charge you less for car insurance? It’s all in the numbers.

Different companies have strict underwriting profiles for the type of driver that will most likely be profitable. A good example of a profitable risk profile could possibly be between the ages of 40 and 55, has never had a claim, and has a short commute. Someone that meets those criteria will qualify for the lowest rates and will save a lot of money.

Potential customers who do not meet this stringent profile will probably have to pay higher premium rates which results in the prospect going elsewhere. The ads state “drivers who switch” but not “all drivers who get quotes” save that much. That’s why insurance companies can state the savings. Because every company is different, you should compare price quotes frequently. It is just not possible to predict with any certainty which company will have the lowest rate quotes.

Insurance agents can help

When it comes to buying proper insurance coverage for your vehicles, there really is not a “best” method to buy coverage. Everyone’s situation is a little different.

These are some specific questions might help in determining if you might need professional guidance.

  • What vehicles should carry emergency assistance coverage?
  • How do I insure my teen driver?
  • Is upholstery damage covered by car insurance?
  • Is a blown tire covered by insurance?
  • Is rental equipment covered for theft or damage?
  • Can I rent a car in Mexico?
  • Do I need more liability coverage?
  • How much can I save by bundling my policies?
  • What is medical payments coverage?
  • Will my vehicle be repaired with OEM or aftermarket parts?

If you can’t answer these questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, complete this form.

Specific coverages for a Chevy Silverado 1500

Knowing the specifics of your policy can help you determine the best coverages and proper limits and deductibles. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as falling objects, rock chips in glass and hitting a bird. The most your car insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Uninsured Motorist or Underinsured Motorist insurance

Your UM/UIM coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Chevy Silverado 1500.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.

Collision insurance

Collision coverage pays for damage to your Silverado 1500 caused by collision with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers things like colliding with a tree, scraping a guard rail and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to raise the deductible to get cheaper collision coverage.

Liability insurance

Liability insurance will cover injuries or damage you cause to a person or their property in an accident. This coverage protects you against claims from other people. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 50/100/50 which stand for $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.

Liability coverage pays for claims such as court costs, medical expenses, attorney fees, loss of income and repair bills for other people’s vehicles. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Insurance for medical payments

Coverage for medical payments and/or PIP kick in for short-term medical expenses such as dental work, prosthetic devices and X-ray expenses. The coverages can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

In conclusion

Lower-priced insurance coverage can be purchased on the web as well as from insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some companies may not provide online rate quotes and many times these small, regional companies prefer to sell through independent agents.

Insureds switch companies for a number of reasons such as high prices, lack of trust in their agent, unfair underwriting practices or extreme rates for teen drivers. Regardless of your reason, switching companies is less work than it seems.

As you prepare to switch companies, do not reduce coverage to reduce premium. There have been many cases where an accident victim reduced full coverage and discovered at claim time that it was a big mistake. Your objective should be to buy a smart amount of coverage for the lowest cost, but do not skimp to save money.

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