Lower Your 2005 Chevrolet Silverado 1500 Car Insurance Rates

Want cheaper auto insurance rates for your Chevrolet Silverado 1500? I can’t think of a single person who likes paying for auto insurance, in particular when the price is too high.

Insurance companies such as GEICO, 21st Century and Progressive promote their brand names with ad campaigns and consumers find it hard to sift through the bull and do the work needed to find the best deal.

You should take the time to compare rates periodically because auto insurance rates change quite often. If you had the best deal for Silverado insurance a year ago the chances are good that you can find a lower price today. Forget anything you know (or think you know) about auto insurance because you’re about to find out the fastest and easiest way to find the best coverage while lowering your premiums.

Insurance premiums are influenced by these factors

A large part of saving on insurance coverage is knowing some of the things that are used to determine your premiums. If you have a feel for what positively or negatively impacts your premiums, this helps enable you to make changes that will entitle you to much lower annual insurance costs. Lots of factors are considered when premium rates are determined. Some are obvious like your driving record, but some are not as apparent such as whether you are married or your commute time.

  • Multiple policies with one company – Most companies provide lower prices for people that have more than one policy in the form of a multi-policy discount. The amount of the discounts can be anywhere from five to ten percent in most cases. Even if you already get this discount, drivers will still want to comparison shop to confirm you are receiving the best rates possible. You may still save more without the discount by buying insurance coverage from a different company.
  • Teenage vs. older drivers – More experienced drivers are proven to be safer behind the wheel, statistically cause fewer accidents and tend to be get fewer driving tickets.Beginning drivers tend to be more careless when behind the wheel so they pay higher insurance coverage rates.
  • Gaps in coverage mean higher premiums – Having a lapse in insurance coverage is a quick way to increase your insurance coverage rates. And not only will insurance be more expensive, the inability to provide proof of insurance could earn you a hefty fine and possibly a revoked license.
  • Avoid unnecessary extra coverages – Policies have additional extra coverages that you can buy on your Silverado 1500 policy. Coverage for things like replacement cost coverage, accidental death, and extra equipment coverage could be just wasting money. The coverages may be enticing when deciding what coverages you need, but your money might be better spent on other coverage so remove them and pocket the money.
  • Fewer miles means better costs – The higher the miles on your Chevy each year the higher your rates will be. Almost all companies apply a rate determined by how the vehicle is used. Cars and trucks left parked in the garage receive lower rates than vehicles that are driven to work every day. It’s a good idea to make sure your vehicle rating states the proper vehicle usage, because improper ratings can cost you money. Incorrect rating for your Silverado 1500 may be wasting your money.

These discounts can lower your car insurance quotes

Some insurers do not advertise the entire discount list in a way that’s easy to find, so the following list contains both the well known and also the more inconspicuous credits that may apply to you.

  • ABS Brakes – Cars with ABS braking systems or traction control are safer to drive and the ABS can save up to 10%.
  • Use Seat Belts – Forcing all vehicle occupants to use a seat belt may be able to save a few bucks off PIP or medical payments premium.
  • Discounts for Safe Drivers – Insureds without accidents can save up to 40% or more on their insurance quote for Silverado insurance as compared to drivers with claims.
  • Discount for Swiching Early – A few insurance companies allow discounts for buying a policy prior to your current policy expiration. This discount can save up to 10%.
  • Accident-Free Discounts – Insureds who avoid accidents and claims are rewarded with significantly better rates on insurance quote compared to accident-prone drivers.
  • Federal Government Employee – Federal government employees may reduce rates when you quote insurance for Silverado insurance with certain companies.
  • Theft Deterent Discount – Cars, trucks, and SUVs equipped with anti-theft or alarm systems are stolen with less frequency and earn discounts up to 10% off your insurance quote.
  • Accident Forgiveness Coverage – but companies like Liberty Mutual, Allstate and State Farm will forgive one accident without getting socked with a rate hike if your claims history is clear for a specific time period.
  • Air Bags and Passive Restraints – Vehicles equipped with air bags may get savings as much as 30%.
  • Driver’s Ed – Reduce the cost of insurance for teen drivers by having them enroll in driver’s education if it’s offered in school.

A quick disclaimer, some of the credits will not apply to all coverage premiums. Most cut specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears it’s possible to get free car insurance, car insurance companies aren’t that generous. Any qualifying discounts will help reduce the amount you have to pay.

A few popular companies and their offered discounts are shown below.

  • American Family offers premium reductions for multi-vehicle, bundled insurance, TimeAway discount, early bird, defensive driver, and good student.
  • State Farm has savings for good student, Drive Safe & Save, multiple policy, driver’s education, student away at school, and good driver.
  • 21st Century offers discounts for automatic seat belts, student driver, early bird, anti-lock brakes, air bags, and teen driver.
  • Travelers may include discounts for payment discounts, multi-policy, new car, driver training, early quote, IntelliDrive, and save driver.
  • GEICO policyholders can earn discounts including good student, seat belt use, driver training, anti-lock brakes, daytime running lights, defensive driver, and military active duty.

Before you buy a policy, ask each insurance company what discounts are available to you. Some of the earlier mentioned discounts may not be offered in every state. If you would like to see a list of insurance companies that can offer you the previously mentioned discounts, follow this link.

Do you really save 40% when you switch?

Insurance coverage providers like Progressive, Allstate and GEICO consistently run television and radio advertisements. They all advertise claims that people will save just by moving your insurance coverage coverage to their company. How is it plausible that every one can charge lower premium rates? Here is how they do it.

Companies can use profiling for the type of driver that will be a good risk. One example of a driver they prefer may need to be married and over the age of 30, has no prior claims, and drives a lower-performance vehicle. Any customer who fits those characteristics will get low premium rates and will also save when they switch companies.

Potential insureds who don’t meet these standards will probably be forced to pay more expensive rates which results in the customer not purchasing. The ads say “drivers that switch” not “everyone who quotes” save that much. That’s the way companies can truthfully state the savings. Because of this risk profiling, you need to compare quotes as often as possible. It is just not possible to predict the company that will give you lower premium rates than your current company.

Different people need different car insurance coverages

When it comes to choosing the right insurance coverage, there really is not a perfect coverage plan. Everyone’s needs are different and a cookie cutter policy won’t apply. For instance, these questions can aid in determining whether you would benefit from an agent’s advice.

  • When do I need to add a new car to my policy?
  • How do I file an SR-22 for a DUI in my state?
  • How do I insure my teen driver?
  • Is my cargo covered for damage or theft?
  • Is upholstery damage covered by car insurance?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Are rock chip repairs covered?
  • Why is insurance for a teen driver so high?

If you’re not sure about those questions but a few of them apply, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Auto insurance 101

Knowing the specifics of a insurance policy can help you determine which coverages you need for your vehicles. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Shown next are typical coverages found on the average insurance policy.

Liability

Liability coverage can cover damage or injury you incur to people or other property. This coverage protects you from claims by other people. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers things such as legal defense fees, repair bills for other people’s vehicles and bail bonds. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as large an amount as possible.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Coverage for collisions

This coverage pays for damage to your Silverado 1500 resulting from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as hitting a mailbox, scraping a guard rail, sustaining damage from a pot hole, colliding with a tree and hitting a parking meter. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. You can also increase the deductible to get cheaper collision coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP pay for expenses like rehabilitation expenses, EMT expenses, X-ray expenses and nursing services. They can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Coverage applies to both the driver and occupants in addition to if you are hit as a while walking down the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage

Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as fire damage, falling objects, hitting a bird and damage from a tornado or hurricane. The most your insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

A fool and his money are soon parted

As you restructure your insurance plan, it’s very important that you do not buy lower coverage limits just to save a few bucks. There are too many instances where an insured dropped uninsured motorist or liability limits only to discover later that it was a big mistake. Your aim should be to buy the best coverage you can find for the lowest cost and still be able to protect your assets.

Throughout this article, we presented many ways to compare 2005 Chevy Silverado 1500 insurance prices online. It’s most important to understand that the more times you quote, the higher the chance of saving money. You may even find the lowest prices are with a small local company. They often have lower rates on specific markets than the large multi-state companies such as State Farm or Progressive.

More affordable auto insurance can be found both online and with local insurance agents, and you need to price shop both to get a complete price analysis. Some insurance companies do not provide the ability to get quotes online and usually these regional insurance providers prefer to sell through local independent agencies.

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