Save on 2016 Chevrolet Silverado 1500 Insurance Rates

Did you fall for a flashy sales pitch and buy an expensive car insurance policy? Say no more because there are many drivers thinking the same thing.

Lots of insurance companies contend for your business, and because of this it can be hard to compare car insurance companies and get the best coverage at the lowest cost out there.

You should make it a habit to price shop coverage once or twice a year due to the fact that insurance prices tend to go up over time. If you had the best deal on Silverado insurance a couple years back you will most likely find a better rate quote today. Block out anything you think you know about car insurance because we’re going to demonstrate how to use the internet to find the best coverage while lowering your premiums.

The best way to compare insurance rates in your area takes advantage of the fact most insurance companies participate in a system to give rate comparisons. All you need to do is take a few minutes to give details such as if you went to college, whether your vehicle is owned or leased, if it has an anti-theft system, and distance driven. That information is then sent to multiple insurance coverage providers and they respond with quotes quickly.

These discounts can cut insurance rates

Properly insuring your vehicles can get expensive, but discounts can save money and there are some available to reduce the price significantly. Certain reductions will be credited at the time of purchase, but some may not be applied and must be specifically requested prior to getting the savings.

  • Military Deployment Discount – Being on active deployment in the military can result in better rates.
  • Telematics Data Discounts – People who choose to allow data collection to study their driving habits remotely such as State Farm’s In-Drive might get better premium rates as long as the data is positive.
  • Distant Student – who are enrolled in higher education away from home and do not have access to a covered vehicle could qualify for this discount.
  • Discount for Passive Restraints – Vehicles with factory air bags could see savings of 25 to 30%.
  • Clubs and Organizations – Being in a qualifying organization can get you a small discount on insurance.
  • Defensive Driver Discounts – Taking time to complete a class that teaches defensive driving techniques can save you 5% or more depending on where you live.
  • Home Ownership Discount – Owning a house can get you a discount because owning a home is proof of financial responsibility.
  • Seat Belts Save – Drivers who require all occupants to use their safety belts can save up to 15% on the premium charged for medical payments and/or PIP.
  • ABS and Traction Control Discounts – Cars and trucks that have steering control and anti-lock brakes prevent accidents so you can save 10 percent or more.
  • 55 and Retired – Seniors may be able to get a small discount on rates on Silverado insurance.

As is typical with insurance, most discounts do not apply to all coverage premiums. Most only cut specific coverage prices like comp or med pay. If you do the math and it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way.

To choose insurers that provide some of the discounts listed above, click here.

Choices you make can impact your insurance costs

Many factors are used when pricing auto insurance. Some of the criteria are obvious such as traffic violations, although others are more obscure such as your marital status or how safe your car is.

  • Discounts for married couples – Getting married helps lower the price on insurance. Having a spouse demonstrates that you tend to be less irresponsible and it’s proven that being married results in fewer claims.
  • Responsible credit scores equal low prices – An insured’s credit history will be a significant factor in determining your rates. Drivers who have high credit ratings tend to be more responsible than drivers with lower credit ratings. If your credit rating is not that good, you could potentially save money when insuring your 2016 Chevrolet Silverado 1500 by spending a little time repairing your credit.
  • Eliminate extra coverages – Policies have add-on coverages that you can get tricked into buying if you aren’t diligent. Add-on coverages like personal injury protection, accidental death, and extra equipment coverage may be wasting your money. They may seem good when buying your policy, but your money might be better spent on other coverage so eliminate the coverages to reduce your premium.
  • Better drivers have lower prices – Careful drivers pay less for auto insurance than people who have multiple driving citations. Even one speeding ticket can increase rates by as much as twenty percent. Drivers who have gotten dangerous violations like DUI, reckless driving or excessive speeding may need to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent their license from being revoked.
  • Alarms and GPS tracking lower insurance rates – Selecting a car model with a theft deterrent system can save you some money. Advanced theft deterrents such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping auto theft and help lower rates.

When do I need an agent’s advice?

When it comes to buying the best insurance coverage coverage, there really is not a “perfect” insurance plan. Your needs are not the same as everyone else’s and your policy should reflect that. For instance, these questions might point out if your insurance needs might need an agent’s assistance.

  • Does my personal policy cover me when driving out-of-state?
  • Do I have newly-aquired coverage?
  • Do I need more liability coverage?
  • Does my insurance cover my expensive audio equipment?
  • Are rental cars covered under my policy?
  • Is a blown tire covered by insurance?

If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of insurance coverage companies in your area.

Auto insurance savings promises

State Farm, Geico and Progressive continually stream ads in print and on television. They all seem to have a common claim about how much you will save if you just switch to their company. How can each company sell you cheaper insurance coverage? You have to listen carefully.

Auto insurance companies give the cheapest rates for the driver that will add to their bottom line. A good example of a desirable risk may need to be over the age of 40, has a clear driving record, and insures a new vehicle. Anybody that fits those parameters will probably get the lowest prices and is almost guaranteed to save if they switch.

People who fall outside this ideal profile will probably be forced to pay a higher premium and ends up with business not being written. The ads say “customers who switch” not “everyone that quotes” can save as much as they claim. That is how companies can claim big savings.

Each company has different criteria, so you absolutely need to compare price quotes frequently. It’s not possible to predict which auto insurance company will provide the lowest prices.

Specific coverages for a Chevy Silverado 1500

Having a good grasp of your insurance policy can help you determine which coverages you need at the best deductibles and correct limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. These are the normal coverages found on the average insurance policy.

Collision – This pays for damage to your Silverado 1500 resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers claims such as sideswiping another vehicle, scraping a guard rail, backing into a parked car, driving through your garage door and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from older vehicles. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Coverage for liability – Liability coverage will cover injuries or damage you cause to a person or their property. It protects you from claims by other people. It does not cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 100/300/100 which means a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which limits claims to one amount without having the split limit caps.

Liability coverage pays for things like funeral expenses, medical services, structural damage and repair costs for stationary objects. How much liability should you purchase? That is a decision to put some thought into, but consider buying as large an amount as possible.

Comprehensive coverage – This will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as hitting a deer, vandalism, rock chips in glass and fire damage. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses for nursing services, doctor visits, hospital visits and rehabilitation expenses. They can be utilized in addition to your health insurance plan or if you are not covered by health insurance. They cover all vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist coverage – This provides protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Chevy Silverado 1500.

Because many people only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time these limits are identical to your policy’s liability coverage.

More choices the merrier

More affordable insurance can be sourced on the web in addition to many insurance agents, so you should compare both in order to have the best chance of saving money. Some insurance providers do not offer rates over the internet and most of the time these small insurance companies only sell coverage through independent insurance agents.

When searching for cheap insurance quotes, don’t be tempted to skimp on critical coverages to save a buck or two. There have been many cases where drivers have reduced full coverage to discover at claim time that the few dollars in savings costed them thousands. The aim is to get the best coverage possible at the best possible price, but do not skimp to save money.

We covered some good ideas how you can lower your 2016 Chevy Silverado 1500 insurance rates. The key concept to understand is the more quotes you get, the higher your chance of finding the cheapest insurance. You may even find the lowest priced insurance comes from a company that doesn’t do a lot of advertising. Smaller companies may have significantly lower car insurance rates on certain market segments compared to the large companies like Progressive and Geico.

Much more information about insurance can be found on the following sites: