Lower Your 2008 Chevrolet Silverado 1500 Insurance Rates

Did a good deal turn out to be an underperforming, overpriced insurance policy? Believe me, many drivers have buyer’s remorse. Many auto insurance companies compete to insure your vehicles, so it can be very hard to choose a insurer to find the absolute lowest rate possible.

Consumers need to compare rates on a regular basis because insurance prices change quite often. Even if you got the best deal for Silverado insurance on your last policy a different company probably has better rate quotes today. There are lots of tips to save on insurance online, but we’re going to give you the best ways to save money.

If you are insured now or are shopping for new coverage, you can follow these tips to cut your premiums while maintaining coverages. Choosing the best insurance company for you is not rocket science. Consumers only need an understanding of how to shop on the web.

Verify you’re earning every discount

Car insurance companies do not list the complete list of policy discounts in a way that’s easy to find, so the next list breaks down a few of the more well known and the more hidden credits that may apply to you. If you aren’t receiving every discount you qualify for, you could be saving more on your auto insurance.

  • Membership in Organizations – Participating in qualifying clubs or civic groups may earn a discount on auto insurance.
  • Pay Upfront and Save – By paying your entire bill at once instead of paying each month you may reduce your total bill.
  • Multi-policy Discount – If you insure your home and vehicles with one company you may save up to 20% off your total premium.
  • Military Deployment Discount – Being deployed with a military unit may qualify for rate reductions.
  • No Charge for an Accident – This one isn’t a discount, but a handful of insurance companies may permit one accident without the usual rate increase with the catch being you have to be claim-free for a specific time period.
  • Passenger Safety Discount – Options like air bags or motorized seat belts can qualify for discounts of up to 25% or more.
  • Student Discounts – Excelling in school could provide a savings of up to 20% or more. Many companies even apply the discount to college students until age 25.
  • Early Switch Discount – A few auto insurance companies give discounts for signing up before your current expiration date. It can save you around 10%.

As a sidenote, most credits do not apply to all coverage premiums. A few only apply to specific coverage prices like liability and collision coverage. So even though they make it sound like all those discounts means the company will pay you, auto insurance companies aren’t that generous.

A list of auto insurance companies and a selection of discounts are outlined below.

  • Geico may include discounts for multi-vehicle, multi-policy, daytime running lights, anti-theft, and five-year accident-free.
  • Travelers may offer discounts for new car, student away at school, continuous insurance, driver training, and home ownership.
  • Nationwide includes discounts for Farm Bureau membership, defensive driving, multi-policy, family plan, anti-theft, and accident-free.
  • Farmers Insurance discounts include distant student, business and professional, mature driver, bundle discounts, and alternative fuel.
  • Esurance policyholders can earn discounts including homeowner, paid-in-full, good student, good driver, Switch & Save, and multi-car.
  • State Farm may have discounts that include multiple autos, Steer Clear safe driver discount, safe vehicle, anti-theft, and accident-free.
  • Progressive has discounts for homeowner, good student, multi-policy, continuous coverage, multi-vehicle, online quote discount, and online signing.
  • Mercury Insurance has savings for good driver, multi-policy, professional/association, ease of repair, and low natural disaster claims.

When getting a coverage quote, ask every company which discounts you may be entitled to. Some of the earlier mentioned discounts may not be offered everywhere. To locate providers who offer online auto insurance quotes, click this link.

When should I discuss my situation with an agent?

When it comes to buying adequate coverage, there really is no “perfect” insurance plan. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. For instance, these questions may help highlight whether you would benefit from professional advice.

  • Am I better off with higher deductibles on my 2008 Chevy Silverado 1500?
  • Will I lose any money if I cancel my policy before it expires?
  • Should I buy more coverage than the required minimum liability coverage?
  • Is my teen driver covered when they drive my company car?
  • Is pleasure use cheaper than using my 2008 Chevy Silverado 1500 to commute?
  • Should I put collision coverage on all my vehicles?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Am I getting all the discounts available?
  • Who is covered by my policy?

If it’s difficult to answer those questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies. It is quick, free and you can get the answers you need.

But they said I’d save $395 a year!

Consumers can’t get away from ads for cheaper insurance coverage by State Farm, Allstate and Geico. They all seem to tend to make the same promise that people will save if you switch your policy.

Is it even possible that every company can offer drivers better rates? This is the way they can do it.

Insurance providers have specific characteristics for the type of driver that earns them a profit. For instance, a desirable insured might have to be over the age of 45, owns a home, and drives a car with an anti-theft system. A customer who meets those qualifications receive the lowest rate quotes and will save if they switch.

Potential insureds who are not a match for these standards will have to pay a higher premium with the end result being the customer not purchasing. The ad wording is “drivers who switch” not “everyone who quotes” save that kind of money. That’s why insurance companies can make claims like that.

This emphasizes why you absolutely need to get price quotes at each policy renewal. It is impossible to guess the company that will provide the lowest rates.

Car insurance coverage basics

Learning about specific coverages of a car insurance policy aids in choosing the best coverages and proper limits and deductibles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. These are the usual coverages offered by car insurance companies.

Comprehensive coverage – Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as damage from flooding, rock chips in glass and vandalism. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Coverage for liability – Liability coverage provides protection from damages or injuries you inflict on other’s property or people by causing an accident. This coverage protects you from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount without having the split limit caps.

Liability insurance covers things such as medical services, emergency aid, pain and suffering, bail bonds and court costs. How much liability coverage do you need? That is your choice, but you should buy higher limits if possible.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage provides protection from other drivers when they either have no liability insurance or not enough. It can pay for injuries to you and your family as well as damage to your Chevy Silverado 1500.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually these coverages are set the same as your liablity limits.

Collision coverage – This pays for damage to your Silverado 1500 resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like rolling your car, colliding with a tree, damaging your car on a curb and sideswiping another vehicle. This coverage can be expensive, so consider dropping it from vehicles that are older. Another option is to choose a higher deductible to get cheaper collision coverage.

Medical payments coverage and PIP – Med pay and PIP coverage pay for bills for things like doctor visits, ambulance fees, chiropractic care, rehabilitation expenses and X-ray expenses. They are utilized in addition to your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage

Final thoughts

Low-cost 2008 Chevy Silverado 1500 insurance is available on the web as well as from independent agents, so you need to shop auto insurance with both in order to have the best price selection to choose from. There are still a few companies who do not offer the ability to get quotes online and many times these small insurance companies only sell coverage through independent agencies.

Throughout this article, we presented many ideas to get a better price on 2008 Chevy Silverado 1500 insurance. The most important thing to understand is the more you quote auto insurance, the higher your chance of finding the cheapest auto insurance. You may even discover the best price on auto insurance is with a smaller regional carrier. These companies may often insure only within specific states and give getter rates than their larger competitors like Allstate or State Farm.

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