Did you make the mistake of buying high-priced car insurance? You’re in good company because many consumers feel financially strained by their car insurance policy. Big-name insurance companies like Allstate, Progressive and GEICO all claim big savings with fancy advertisements and it is challenging if not impossible to see through the cute green geckos and mayhem and do the work needed to find the best deal.
It’s a good habit to take a look at other company’s rates before your next renewal because car insurance prices fluctuate regularly. If you had the lowest price for Silverado insurance a couple years back other companies may now be cheaper. Forget all the misinformation about car insurance because we’re going to demonstrate the best way to lower your rates without sacrificing coverage.
There are a variety of methods to compare insurance coverage quotes, but some are easier and takes less work. You can waste a few hours (or days) talking about coverages with insurance agencies in your area, or you could use the internet to get rate comparisons in just a few minutes.
Most car insurance companies enroll in a system that enables customers to submit their information once, and every company can give them a price based on that data. This prevents consumers from doing quote requests for every insurance coverage company.
To access this free quoting program, click here to open in new window.
One minor caviat to doing it this way is you cannot specify which companies to receive prices from. If you wish to select from a list of companies to receive pricing from, we have a listing of companies who write insurance coverage in your area. View list of insurance companies.
It’s up to you how you get prices quotes, just double check that you are using exactly the same quote data on every quote you get. If you are comparing unequal deductibles or liability limits it will be very difficult to make a fair rate comparison.
When choosing adequate coverage for your personal vehicles, there is no one size fits all plan. Your needs are not the same as everyone else’s so this has to be addressed. For example, these questions may help highlight if your situation would benefit from professional advice.
If it’s difficult to answer those questions but you know they apply to you, you may need to chat with an agent. To find an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area. It is quick, free and can provide invaluable advice.
Understanding the coverages of a insurance policy helps when choosing the right coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Below you’ll find the normal coverages offered by insurance companies.
Medical payments coverage and PIP
Med pay and PIP coverage provide coverage for bills for things like prosthetic devices, chiropractic care, hospital visits, rehabilitation expenses and EMT expenses. They can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay
Uninsured/Underinsured Motorist coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your Chevy Silverado 2500.
Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Coverage for liability
This protects you from damages or injuries you inflict on other’s property or people in an accident. This insurance protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery. Occasionally you may see one number which is a combined single limit which limits claims to one amount with no separate limits for injury or property damage.
Liability coverage pays for claims like emergency aid, pain and suffering, funeral expenses and structural damage. How much liability should you purchase? That is a personal decision, but buy as large an amount as possible.
Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims such as falling objects, a broken windshield, damage from getting keyed, hitting a bird and hail damage. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Collision coverage protection
This coverage pays for damage to your Silverado 2500 resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims like scraping a guard rail, colliding with another moving vehicle, sideswiping another vehicle, colliding with a tree and crashing into a building. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Drivers also have the option to raise the deductible to get cheaper collision coverage.