Looking for cheaper insurance coverage rates for your Chevrolet Silverado 1500? If you are new to getting insurance quotes online, you can easily be overwhelmed by the vast number of local and online companies all claiming to have the lowest rates.
You need to do rate comparisons at least once a year since prices go up and down regularly. If you had the lowest quotes on Silverado coverage a few years ago a different company probably has better rates today. Forget anything you know (or think you know) about insurance coverage because we’re going to demonstrate the only way to eliminate unnecessary coverages and save money.
Buying car insurance is not that difficult. If you currently have a car insurance policy, you should be able to lower your premiums substantially using these methods. Nevertheless, car owners must know how insurance companies sell insurance online and take advantage of how the system works.
Many things are part of the calculation when premium rates are determined. Some are pretty understandable like your driving record, but some are more obscure such as your marital status or how financially stable you are.
The list below includes some of the most common factors used by your company to calculate your prices.
There are several ways you can shop for auto insurance but one way is less labor-intensive and much quicker. You can waste a lot of time driving to local insurance agents in your area, or you could use online quoting to maximize your effort.
All the larger companies are enrolled in a marketplace that enables customers to enter their coverage request one time, and each participating company then gives them pricing determined by their information. This saves time by eliminating repetitive form submissions for each company you want a rate for.
To find out how much you can save on auto insurance click here to open in new window.
The only downside to using this type of form is that consumers can’t choose the insurers you want pricing from. If you would rather choose from a list of companies to compare, we put together a list of low cost auto insurance companies in your area. View list of insurance companies.
However you get your quotes, make sure you use apples-to-apples coverage information on every quote. If you use different deductibles it will be next to impossible to decipher which rate is best. Quoting even small variations in coverage limits can mean a large discrepancy in price. And when comparing auto insurance rates, know that more quotes will improve the odds of getting more affordable rates.
Companies that sell car insurance don’t always list all disounts very clearly, so we took the time to find both the well known and also the more inconspicuous savings tricks you should be using when you buy insurance online.
As a disclaimer on discounts, most credits do not apply to the overall cost of the policy. Some only reduce specific coverage prices like physical damage coverage or medical payments. So when the math indicates adding up those discounts means a free policy, company stockholders wouldn’t be very happy.
Large auto insurance companies and some of the premium reductions they offer can be found below.
Double check with each company or agent which discounts they offer. Some credits might not be available to policyholders in your state. To view providers with discount auto insurance rates, click this link.
When choosing coverage, there isn’t really a cookie cutter policy. Every insured’s situation is different.
Here are some questions about coverages that might help in determining if your situation might need professional guidance.
If you can’t answer these questions but a few of them apply, you might consider talking to an insurance agent. To find lower rates from a local agent, complete this form.
Having a good grasp of a auto insurance policy can help you determine the best coverages and the correct deductibles and limits. Auto insurance terms can be ambiguous and reading a policy is terribly boring.
Collision coverage protection
This coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage pays for claims like crashing into a ditch, backing into a parked car and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also bump up the deductible to get cheaper collision coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage provides protection from other motorists when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries and damage to your Chevy Silverado 1500.
Since a lot of drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.
Auto liability insurance
Liability coverage can cover damage that occurs to a person or their property by causing an accident. This insurance protects YOU from claims by other people. It does not cover damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see limits of 100/300/100 that translate to 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.
Liability coverage pays for things such as attorney fees, emergency aid and structural damage. How much liability should you purchase? That is up to you, but you should buy higher limits if possible.
Medical payments and PIP coverage
Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses for things like X-ray expenses, hospital visits, ambulance fees, dental work and chiropractic care. They are utilized in addition to your health insurance policy or if there is no health insurance coverage. They cover you and your occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not an option in every state and may carry a deductible
Comprehensive auto coverage
Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers things such as vandalism, hitting a bird and a broken windshield. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Insureds switch companies for a number of reasons such as delays in responding to claim requests, poor customer service, denial of a claim or being labeled a high risk driver. It doesn’t matter what your reason, finding a great new company is pretty easy and you might even save some money in the process.
We just presented some good ideas how you can save on 2009 Chevy Silverado 1500 insurance. The most important thing to understand is the more you quote insurance, the better your chances of lowering your prices. Consumers may even find the lowest premium rates are with a small local company.
Affordable 2009 Chevy Silverado 1500 insurance can be purchased online and with local insurance agents, and you should compare rates from both so you have a total pricing picture. Some companies may not offer online price quotes and most of the time these small, regional companies provide coverage only through independent agencies.
To learn more, take a look at these articles: