Save on 2002 Chevrolet Silverado 1500 Car Insurance Cost

Comparing and finding cheaper rates for auto insurance can seem to be kind of frustrating for drivers who are new to online price comparisons. When there are so many companies, it can easily turn into a chore to lower your prices.

If you currently have car insurance, you will most likely be able to save some money using these techniques. This information will teach you how to effectively get price quotes and some tricks to saving. Although vehicle owners must understand how the larger insurance companies compete online and use this information to your advantage.

What determines Chevy Silverado 1500 insurance rates?

Consumers need to have an understanding of some of the elements that are used to determine the price you pay for insurance. When consumers understand what impacts premium levels, this allows you to make good choices that can help you get lower premium levels.

The following are some of the major factors insurance companies consider when setting premiums.

  • Getting married can lower premiums – Having a spouse actually saves money on your insurance bill. It is viewed as being more financially stable and it’s proven that married couples file fewer claims.
  • Save by driving safer vehicles – Safe vehicles tend to be cheaper to insure. The safest vehicles have better occupant injury protection and fewer injuries translates directly to fewer claims and thus lower rates. If your Chevy Silverado 1500 has at least an “acceptable” rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.
  • Rates can drop if you have more than one policy – Most larger insurance companies will give a discount to clients who consolidate policies with them such as combining an auto and homeowners policy. Discounts can be ten percent or more. If you currently are using one company, consumers should still get quotes from other companies to make sure you are getting the best deal.
  • Liability coverage safeguards assets – Your insurance policy’s liability coverage kicks in when you are ruled to be at fault for causing damage or personal injury in an accident. Your liability coverage provides you with a defense in court which can cost thousands of dollars. This coverage is relatively inexpensive compared to physical damage coverage, so insureds should have plenty of protection for their assets.
  • Rates and your address – Living in a small town can be a good thing when buying insurance. Urban drivers have much more traffic and much longer commute distances. Fewer drivers means a lower chance of having an accident.
  • Don’t get traffic citations – Your driving citation history has a huge affect on how much you pay. Careful drivers get better prices than their less careful counterparts. Even one ticket may increase your cost twenty percent or more. Drivers who get license-revoking violations such as DUI or reckless driving may need to prove financial responsibility with the DMV in their state in order to legally drive.
  • Pay more out-of-pocket – Physical damage coverage, also called ‘full coverage’, insures against damage to your Chevy. Examples of some claims that would be covered are a broken windshield, collision with an animal, and burglary. Physical damage deductibles represent how much money you are willing to pay if a covered claim is submitted. The more expense you’re willing to pay, the less your company will charge you for insurance on Silverado insurance.
  • Women tend to be lower risk – Statistics have proven that women are safer drivers than men. It does not mean males are worse at driving than females. Females and males are in fender benders at about the same rate, but the male of the species get into accidents with more damage. Not only that, but men also receive more major tickets such as driving while intoxicated (DWI) or driving recklessly.

The best way to compare insurance rates in your area takes advantage of the fact almost all companies pay for the opportunity to provide you with a free rate quote. The only thing you need to do is provide a small amount of information such as if the car is leased, deductibles desired, driver ages, and if it has an anti-theft system. The rating information is instantly sent to multiple insurance providers and they return cost estimate very quickly.

Can you really save $429 a year?

Well-known auto insurance companies like Allstate and Progressive endlessly run television and radio advertisements. All the ads make the point about how much you will save if you move to their company. How does every auto insurance company make almost identical claims?

Insurance companies look for specific characteristics for the right customer that will not have excessive claims. For example, this type of driver could be over the age of 50, has no tickets, and drives less than 7,500 miles a year. A propective insured that hits that “sweet spot” will get low car insurance rates and as a result will probably save money with a new company.

Potential customers who don’t qualify for these standards will be charged higher premium rates and this can result in the customer not buying. If you listen closely, the ads state “people who switch” not “everyone that quotes” save that much money. That is how insurance companies can confidently make it sound like they have such great rates.

This really drives home the point why you really should get price quotes at each policy renewal. It’s just not possible to know which company will give you lower prices than your current company.

Discount auto insurance quotes

Auto insurance is expensive, but there’s a good chance there are discounts to reduce the price significantly. Certain discounts will be triggered automatically when you get a quote, but lesser-known reductions have to be specially asked for in order for you to get them. If you’re not getting every credit you qualify for, you are not getting the best rate possible.

  • Homeowners Savings – Owning your own home or condo can get you a discount due to the fact that maintaining a home is proof of financial responsibility.
  • Paperless Signup – A few auto insurance companies will discount your bill up to fifty bucks for buying a policy and signing up on their website.
  • Theft Deterent System – Vehicles that have factory alarm systems and tracking devices can help prevent theft and will qualify for a discount on a car insurance quote.
  • Cautious Drivers – Accident-free drivers can pay as much as 50% less on Silverado insurance than their less cautious counterparts.
  • Payment Method – If paying your policy premium upfront instead of making monthly payments you could save up to 5%.
  • Telematics Data Discounts – People who choose to allow companies to analyze when and where they use their vehicle by using a telematic data system like Drivewise from Allstate or In-Drive from State Farm may see discounts if they exhibit good driving behavior.
  • Smart Student Discounts – Getting good grades can be rewarded with saving of up to 25%. Most companies allow this discount up to age 25.
  • Seat Belts Save – Forcing all vehicle occupants to use a seat belt could save 15% off PIP or medical payments premium.
  • Accident-Free Discounts – Good drivers with no accidents pay less in comparison to drivers who are more careless.

It’s important to understand that most discount credits are not given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like medical payments or collision. Despite the appearance that it’s possible to get free car insurance, company stockholders wouldn’t be very happy.

A list of auto insurance companies and a summarized list of policyholder discounts are shown below.

  • Farmers Insurance has savings for youthful driver, early shopping, good student, pay in full, and alternative fuel.
  • Esurance may offer discounts for anti-theft, homeowner, emergency road assistance, paid-in-full, and defensive driver.
  • State Farm offers discounts for Drive Safe & Save, driver’s education, good driver, safe vehicle, multiple policy, defensive driving training, and anti-theft.
  • GEICO may include discounts for air bags, seat belt use, membership and employees, emergency military deployment, anti-theft, defensive driver, and multi-vehicle.
  • Allstate may have discounts that include resident student, good payer, senior citizen, multi-policy, FullPay discount, and early signing.

Before you buy a policy, ask all the companies which discounts they offer. Some of the earlier mentioned discounts might not apply everywhere. To choose insurance companies with the best discounts, click here to view.

Tailor your car insurance coverage to you

When it comes to choosing adequate coverage for your personal vehicles, there isn’t really a perfect coverage plan. Your needs are not the same as everyone else’s.

For example, these questions can aid in determining if your insurance needs will benefit from professional help.

  • Is my nanny covered when driving my vehicle?
  • Why is insurance for a teen driver so high?
  • Does insurance cover damages from a DUI accident?
  • What is medical payments coverage?
  • Is a new car covered when I drive it off the dealer lot?
  • Why do I only qualify for high-risk insurance?
  • When should I buy a commercial auto policy?
  • How can I force my company to pay a claim?

If it’s difficult to answer those questions, you might consider talking to a licensed agent. If you don’t have a local agent, fill out this quick form.

Coverages available on your insurance policy

Knowing the specifics of insurance helps when choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be difficult to understand and coverage can change by endorsement.

Liability coverage – Liability insurance provides protection from injuries or damage you cause to other people or property. It protects YOU against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see values of 100/300/100 that means you have a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage pays for things such as medical services, legal defense fees and pain and suffering. How much coverage you buy is your choice, but consider buying as large an amount as possible.

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

Comprehensive insurance covers claims like a tree branch falling on your vehicle, theft, hail damage, rock chips in glass and vandalism. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Uninsured or underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Chevy Silverado 1500.

Since a lot of drivers 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. Frequently these limits are similar to your liability insurance amounts.

Medical expense coverage – Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses for EMT expenses, doctor visits, dental work, funeral costs and nursing services. They are used to fill the gap from your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and also covers any family member struck as a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Collision coverages – This coverage will pay to fix damage to your Silverado 1500 resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things like hitting a parking meter, scraping a guard rail, colliding with another moving vehicle and backing into a parked car. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Make an honest buck

Insureds leave their current company for any number of reasons including high rates after DUI convictions, poor customer service, lack of trust in their agent and policy cancellation. Regardless of your reason, choosing a new insurance company can be pretty painless.

You just learned many ways to lower your 2002 Chevy Silverado 1500 insurance prices. It’s most important to understand that the more companies you get rates for, the higher the chance of saving money. You may even discover the biggest savings come from a smaller regional carrier.

Budget-conscious 2002 Chevy Silverado 1500 insurance can be purchased from both online companies and also from your neighborhood agents, and you should be comparing both to have the best selection. There are still a few companies who don’t offer rates over the internet and these smaller providers only sell coverage through independent insurance agencies.

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