Cheap 2005 Chevrolet Silverado 1500 Insurance Cost

I can’t think of anyone who looks forward to paying for insurance coverage, particularly when the price is too high.

Many car insurance companies compete to insure your vehicles, and because of this it can be hard to compare insurance companies to find the best price available.

It is always a good idea to get comparison quotes periodically because rates are constantly changing. Even if you got the lowest rates for Silverado insurance six months ago you will most likely find a better rate today. Block out anything you think you know about insurance coverage because you’re about to learn the fastest and easiest way to find the best coverage while lowering your premiums.

If you are paying for car insurance now, you will most likely be able to save some money using these tips. Choosing the best insurance company for you is quite easy. Nevertheless, vehicle owners need to learn the way companies price insurance differently and apply this information to your search.

Comprehensive Auto Insurance Comparison

Shopping for lower auto insurance rates can be exhausting if you aren’t aware of the easiest way. You can waste a few hours (or days) talking about coverages with agents in your area, or you could save time and use online quoting to get prices fast.

Most major companies participate in a marketplace that allows shoppers to enter their policy data once, and at least one company can provide price quotes based on that information. This saves time by eliminating form submissions for every auto insurance company.

To get comparison pricing now click to open in new window.

The one disadvantage to doing it this way is you cannot specify the insurers you want pricing from. So if you want to choose individual companies for rate comparison, we put together a list of auto insurance companies in your area. Click here to view list.

It’s up to you which method you use, but ensure you are comparing apples-to-apples quote information with every price quote. If you compare higher or lower deductibles it will be very difficult to decipher which rate is best. Quoting even small variations in limits may result in large price differences. And when comparing auto insurance rates, know that getting more free quotes will improve the odds of getting a lower rate.

Don’t miss these discounts

Auto insurance companies don’t always publicize all available discounts very well, so here is a list some of the best known as well as the least known ways to save on insurance.

  • Multiple Vehicles – Insuring multiple vehicles on the same insurance policy qualifies for this discount.
  • Drive Safe and Save – Drivers who avoid accidents can pay as much as 50% less for Silverado insurance than their less cautious counterparts.
  • Early Switch Discount – Some insurance companies reward drivers for switching to them prior to your current policy expiration. It’s a savings of about 10%.
  • Pay Now and Pay Less – If you pay your bill all at once instead of making monthly payments you could save up to 5%.
  • Resident Student – Any of your kids who attend school more than 100 miles from home and do not have a car can receive lower rates.
  • Government Employees – Being employed by or retired from a federal job can earn a discount up to 10% for Silverado insurance with select insurance companies.
  • Drive Less and Save – Keeping the miles down on your Chevy can earn lower rates on the low mileage vehicles.
  • Discount for Good Grades – Performing well in school can save 20 to 25%. Earning this discount can benefit you up to age 25.

As a disclaimer on discounts, some of the credits will not apply to the overall cost of the policy. A few only apply to the cost of specific coverages such as liability, collision or medical payments. So even though it sounds like adding up those discounts means a free policy, it doesn’t quite work that way.

A partial list of companies that may have these discounts may include but are not limited to:

Double check with each company which discounts they offer. Some discounts might not apply in your area.

When might I need help?

When it comes to buying proper insurance coverage, there really is not a cookie cutter policy. Everyone’s situation is unique and your policy should reflect that. Here are some questions about coverages that could help you determine if your situation would benefit from professional advice.

  • Does my policy cover my teen driver if they drive my company car?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Exactly who is provided coverage by my policy?
  • How do I buy GAP insurance?
  • Does my personal policy cover me when driving out-of-state?
  • Do I have coverage when pulling a U-Haul trailer?
  • What if I total my 2005 Chevy Silverado 1500 and owe more than it’s worth?
  • If my 2005 Chevy Silverado 1500 is totaled, can I afford another vehicle?
  • Does my car insurance cover rental cars?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of auto insurance companies in your area.

Detailed coverages of your car insurance policy

Having a good grasp of a car insurance policy aids in choosing the best coverages and the correct deductibles and limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types available from car insurance companies.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your Chevy Silverado 1500.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.

Auto liability insurance – This coverage can cover damages or injuries you inflict on a person or their property by causing an accident. This insurance protects YOU against claims from other people, and does not provide coverage for damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see values of 25/50/25 that translate to a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery.

Liability insurance covers things such as loss of income, repair bills for other people’s vehicles, legal defense fees and attorney fees. How much coverage you buy is a decision to put some thought into, but buy higher limits if possible.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for things like pain medications, ambulance fees, EMT expenses, chiropractic care and dental work. They are often used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay

Collision – Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things like crashing into a ditch, hitting a parking meter, damaging your car on a curb and colliding with another moving vehicle. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. You can also bump up the deductible to bring the cost down.

Comprehensive insurance – This will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like damage from a tornado or hurricane, damage from getting keyed, vandalism, hitting a bird and damage from flooding. The most your car insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.