Chevrolet Silverado Auto Insurance (2024)
How much does insurance cost on a Chevy Silverado? Full coverage costs $124 a month on average, and liability-only coverage is $50 on average. That's mid-range for the average pickup truck insurance cost per month. Find out how discounts could save you over $50 a month on your Chevrolet Silverado auto insurance.
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Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
UPDATED: Oct 18, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 18, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Key takeaways:
- Full coverage costs around $1,484 a year or $124 each month
- A liability-only policy costs around $595 a year or $50 each month
- The highest rates are for teenage drivers at around $5,424 a year or $452 each month
- Good drivers can save as much as $612 a year by earning policy discounts
- Chevrolet Silverado insurance costs around $35 less per year than the average vehicle
You save up to $612 annually on Chevrolet Silverado insurance rates when you’re eligible for policy discounts. Policy discounts come in handy for teen driver insurance, which is $452 per month for a Chevrolet Silverado. Continue reading to learn more.
You can start comparing quotes for Chevrolet Silverado auto insurance rates from some of the best auto insurance companies by using our free online tool now.
Chevrolet Silverado Insurance Cost
The average Chevrolet Silverado auto insurance rates are $1,484 a year or $124 a month.
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Are Chevrolet Silverados Expensive to Insure?
Are Chevys expensive to insure? The chart below details how Chevrolet Silverado insurance rates compare to other trucks like the Chevrolet Colorado, GMC Sierra 2500HD, and GMC Sierra.
Chevrolet and Other Models: Average Monthly Auto Insurance Rates Comparison
Vehicle | Comprehensive | Collision | Liability | Total |
---|---|---|---|---|
Chevrolet Silverado | $27 | $47 | $35 | $124 |
Chevrolet Colorado | $21 | $37 | $31 | $102 |
GMC Sierra 2500HD | $28 | $55 | $35 | $133 |
GMC Sierra | $28 | $50 | $31 | $122 |
Ford Ranger | $21 | $39 | $31 | $105 |
Honda Ridgeline | $26 | $45 | $38 | $123 |
Chevrolet Silverado 3500HD | $34 | $55 | $35 | $138 |
Read more: Dodge Ram 1500 vs. Chevrolet Silverado Auto Insurance
However, there are a few things you can do to find the cheapest Chevrolet insurance rates online.
What Impacts the Cost of Chevrolet Silverado Insurance?
You might have noticed that there is a multitude of factors that impact Chevrolet Silverado auto insurance rates. Your age, location, driving record, and model year all play a role in what you will ultimately pay to insure the Chevrolet Silverado.
Age of the Vehicle
The average Chevrolet Silverado auto insurance rates are higher for newer models. For example, auto insurance for a 2020 Chevrolet Silverado costs $1,484, while 2010 Chevrolet Silverado insurance costs are $1,238, a difference of $246.
Chevrolet Silverado: Average Monthly Auto Insurance Rates by Model Year
Model Year | Comprehensive | Collision | Liability | Total |
---|---|---|---|---|
2020 Chevrolet Silverado | $27 | $47 | $35 | $124 |
2019 Chevrolet Silverado | $26 | $45 | $37 | $122 |
2018 Chevrolet Silverado | $25 | $45 | $38 | $122 |
2017 Chevrolet Silverado | $24 | $44 | $39 | $122 |
2016 Chevrolet Silverado | $23 | $42 | $41 | $120 |
2015 Chevrolet Silverado | $22 | $40 | $42 | $119 |
2014 Chevrolet Silverado | $21 | $38 | $43 | $116 |
2013 Chevrolet Silverado | $20 | $35 | $43 | $113 |
2012 Chevrolet Silverado | $19 | $32 | $43 | $109 |
2011 Chevrolet Silverado | $18 | $29 | $43 | $105 |
2010 Chevrolet Silverado | $17 | $27 | $44 | $103 |
Driver Age
Driver age can have a significant impact on the cost of Chevrolet Silverado auto insurance. For example, 20-year-old drivers pay approximately $1,815 each year for their Chevrolet Silverado auto insurance policy than 30-year-old drivers.
Driver Location
Where you live can have a large impact on Chevrolet Silverado insurance rates, especially if you live in one of the worst or best states for pickup owners. For example, drivers in New York may pay $906 a year more than drivers in Seattle.
Your Driving Record
Your driving record can have an impact on the cost of Chevrolet Silverado auto insurance coverage. Teens and drivers in their 20s see the highest jump in their Chevrolet Silverado auto insurance with violations on their driving record.
Chevrolet Silverado Safety Ratings
The Chevrolet Silverado’s safety ratings will affect your Chevrolet Silverado auto insurance rates. See the chart below:
Chevrolet Silverado Safety Ratings Overview
Test Type | Rating |
---|---|
Small Overlap Front: Driver-Side | Good |
Small Overlap Front: Passenger-Side | Marginal |
Moderate Overlap Front | Good |
Side | Good |
Roof Strength | Good |
Head Restraints and Seats | Good |
Chevrolet Silverado Crash Test Ratings
Good Chevrolet Silverado crash test ratings can lower your Chevrolet Silverado auto insurance rates. See Chevrolet Silverado crash test results below:
Chevrolet Silverado: Comprehensive Crash Test Ratings
Vehicle Tested | Overall | Frontal | Side | Rollover |
---|---|---|---|---|
2020 Chevrolet Silverado 2500 PU/RC 4WD | N/R | N/R | N/R | N/R |
2020 Chevrolet Silverado 2500 PU/RC 2WD | N/R | N/R | N/R | N/R |
2020 Chevrolet Silverado 2500 PU/EC 4WD | N/R | N/R | N/R | N/R |
2020 Chevrolet Silverado 2500 PU/EC 2WD | N/R | N/R | N/R | N/R |
2020 Chevrolet Silverado 2500 PU/CC 4WD | N/R | N/R | N/R | N/R |
2020 Chevrolet Silverado 2500 PU/CC 2WD | N/R | N/R | N/R | N/R |
2020 Chevrolet Silverado 1500 PU/RC 4WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2020 Chevrolet Silverado 1500 PU/RC 2WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2020 Chevrolet Silverado 1500 PU/EC 4WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2020 Chevrolet Silverado 1500 PU/EC 2WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2020 Chevrolet Silverado 1500 PU/CC 4WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2020 Chevrolet Silverado 1500 PU/CC 2WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2019 Chevrolet Silverado 3500 PU/RC RWD | N/R | N/R | N/R | N/R |
2019 Chevrolet Silverado 3500 PU/RC 4WD | N/R | N/R | N/R | N/R |
2019 Chevrolet Silverado 3500 PU/CC RWD | N/R | N/R | N/R | N/R |
2019 Chevrolet Silverado 3500 PU/CC 4WD | N/R | N/R | N/R | N/R |
2019 Chevrolet Silverado 2500 PU/RC RWD | 4 Stars | 3 Stars | 5 Stars | 3 Stars |
2019 Chevrolet Silverado 2500 PU/RC 4WD | 4 Stars | 3 Stars | 5 Stars | 3 Stars |
2019 Chevrolet Silverado 2500 PU/EC RWD | 4 Stars | 3 Stars | 5 Stars | 3 Stars |
2019 Chevrolet Silverado 2500 PU/EC 4WD | 4 Stars | 3 Stars | 5 Stars | 3 Stars |
2019 Chevrolet Silverado 2500 PU/CC RWD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2019 Chevrolet Silverado 2500 PU/CC 4WD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2019 Chevrolet Silverado 1500 PU/RC RWD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2019 Chevrolet Silverado 1500 PU/RC 4WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2019 Chevrolet Silverado 1500 PU/EC RWD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2019 Chevrolet Silverado 1500 PU/EC 4WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2019 Chevrolet Silverado 1500 PU/CC RWD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2019 Chevrolet Silverado 1500 PU/CC 4WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2019 Chevrolet Silverado 1500 LD PU/EC RWD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2019 Chevrolet Silverado 1500 LD PU/EC 4WD | 4 Stars | 4 Stars | 5 Stars | 4 Stars |
2018 Chevrolet Silverado 3500 PU/RC RWD | N/R | N/R | N/R | N/R |
2018 Chevrolet Silverado 3500 PU/RC 4WD | N/R | N/R | N/R | N/R |
2018 Chevrolet Silverado 3500 PU/EC RWD | N/R | N/R | N/R | N/R |
2018 Chevrolet Silverado 3500 PU/EC 4WD | N/R | N/R | N/R | N/R |
2018 Chevrolet Silverado 3500 PU/CC RWD | N/R | N/R | N/R | N/R |
2018 Chevrolet Silverado 3500 PU/CC 4WD | N/R | N/R | N/R | N/R |
2018 Chevrolet Silverado 2500 PU/RC RWD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2018 Chevrolet Silverado 2500 PU/RC 4WD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2018 Chevrolet Silverado 2500 PU/EC RWD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2018 Chevrolet Silverado 2500 PU/EC 4WD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2018 Chevrolet Silverado 2500 PU/CC RWD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2018 Chevrolet Silverado 2500 PU/CC 4WD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2018 Chevrolet Silverado 1500 PU/RC RWD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2018 Chevrolet Silverado 1500 PU/RC 4WD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2018 Chevrolet Silverado 1500 PU/EC RWD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2018 Chevrolet Silverado 1500 PU/EC 4WD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2018 Chevrolet Silverado 1500 PU/CC RWD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2018 Chevrolet Silverado 1500 PU/CC 4WD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2018 Chevrolet Silverado 1500 Hybrid PU/CC RWD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2017 Chevrolet Silverado 3500 PU/RC RWD | N/R | N/R | N/R | N/R |
2017 Chevrolet Silverado 3500 PU/RC 4WD | N/R | N/R | N/R | N/R |
2017 Chevrolet Silverado 3500 PU/EC RWD | N/R | N/R | N/R | N/R |
2017 Chevrolet Silverado 3500 PU/EC 4WD | N/R | N/R | N/R | N/R |
2017 Chevrolet Silverado 3500 PU/CC RWD | N/R | N/R | N/R | N/R |
2017 Chevrolet Silverado 3500 PU/CC 4WD | N/R | N/R | N/R | N/R |
2017 Chevrolet Silverado 2500 PU/RC RWD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2017 Chevrolet Silverado 2500 PU/RC 4WD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2017 Chevrolet Silverado 2500 PU/EC RWD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2017 Chevrolet Silverado 2500 PU/EC 4WD | 4 Stars | 4 Stars | 5 Stars | 3 Stars |
2017 Chevrolet Silverado 2500 PU/CC RWD | N/R | N/R | 5 Stars | 3 Stars |
2017 Chevrolet Silverado 2500 PU/CC 4WD | N/R | N/R | 5 Stars | 3 Stars |
2017 Chevrolet Silverado 1500 PU/RC RWD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2017 Chevrolet Silverado 1500 PU/RC 4WD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2017 Chevrolet Silverado 1500 PU/EC RWD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
2017 Chevrolet Silverado 1500 PU/EC 4WD | 5 Stars | 5 Stars | 5 Stars | 4 Stars |
Chevrolet Silverado Safety Features
Chevrolet Silverado safety features can lower the cost of your insurance. The safety features for the 2020 Chevrolet Silverado include:
- Driver Air Bag
- Passenger Air Bag
- Front Head Air Bag
- Rear Head Air Bag
- Front Side Air Bag
- 4-Wheel ABS
- 4-Wheel Disc Brakes
- Electronic Stability Control
- Daytime Running Lights
- Integrated Turn Signal Mirrors
- Front Tow Hooks
- Traction Control
- Blind Spot Monitor
- Cross-Traffic Alert
Chevrolet Silverado Insurance Loss Probability
Another contributing factor that plays a direct role in Chevrolet Silverado insurance rates is the loss probability for each type of coverage.
Chevrolet Silverado Insurance Loss Probability by Coverage
Coverage Category | Loss Rate |
---|---|
Collision | -24% |
Property Damage | 18% |
Comprehensive | -15% |
Personal Injury | -22% |
Medical Payment | -31% |
Bodily Injury | 25% |
Chevrolet Silverado Finance and Insurance Cost
If you are financing a Chevrolet Silverado, you will pay more if you purchase Chevrolet Silverado auto insurance at the dealership, so be sure to shop around and compare Chevrolet Silverado auto insurance quotes from the best companies using our FREE tool below.
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Ways to Save on Chevrolet Silverado Insurance
If you want to reduce the cost of your Chevrolet Silverado insurance rates, follow these tips below:
- Ask About Farm and Ranch Vehicle Discounts
- Ask About Discounts for People with Disabilities
- Re-Check Chevrolet Silverado Insurance Rates Every 6 Months
- Buy a Dashcam for Your Chevrolet Silverado
- Remove Young Drivers from Your Chevrolet Silverado Auto Insurance Plan
Top Chevrolet Silverado Insurance Companies
Who is the best company for Chevrolet Silverado insurance rates? While the actual rates you pay will depend on many factors, here are some of the top companies offering Chevrolet Silverado insurance coverage (ordered by market share). Many of these companies offer discounts for security systems and other safety features that the Chevrolet Silverado offers.
Chevrolet Silverado Insurance: Top Providers by Market Share
Rank | Company | Volume | Market Share |
---|---|---|---|
1 | State Farm | $65,615,190 | 9.30% |
2 | Geico | $46,106,971 | 6.60% |
3 | Progressive | $39,222,879 | 5.60% |
4 | Liberty Mutual | $35,600,051 | 5.10% |
5 | Allstate | $35,025,903 | 5.00% |
6 | Travelers | $28,016,966 | 4.00% |
7 | USAA | $23,483,080 | 3.30% |
8 | Chubb | $23,388,385 | 3.30% |
9 | Farmers | $20,643,559 | 2.90% |
10 | Nationwide | $18,442,145 | 2.60% |
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Getting auto insurance for a Chevy Silverado comes with a few notable factors that can help you get a lower rate. These include factors that pertain to your vehicle, your driving habits, and even your personal life.
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The insurance company you choose is another factor in the rates you’ll receive. You also want to pay attention to the types of auto insurance coverage available to best determine what you need and the limits on each.
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Chevy Silverado Variations
Part of your insurance cost depends on the overall cost of your vehicle. The Chevrolet website notes the 2012 Silverado comes in several models with varying price points. Prices vary depending on the model and the options you choose to go with your vehicle. Choices include the following:
- Silverado 1500
- Silverado Hybrid
- Silverado 2500HD
- Silverado 3500 HD
- Silverado Chassis with a covered truck bed
Other factors that play into the overall value of the vehicle include the specific options you choose for each vehicle. Each truck offers different trim levels ranging from the very basic to the more elaborate.
The more elaborate trim levels for the Silverado 1500 include additional interior amenities. These are cloth front seats instead of vinyl, locking storage underneath the seat and a steering wheel wrapped in leather.
Additional options include off-road suspension for an additional cost. The more elaborate and costly your truck, the more expensive your insurance is likely to be.
If you have a used or older existing Silverado you are looking to insure, your price of insurance may also be lower.
In the case of older or used vehicles, you may want to assess the overall value of the vehicle before you spend a lot of money on insurance to cover repairs or replacement.
Features That Can Help Lower Insurance Costs
Not all of the added features on your Chevy Silverado necessarily result in an increase in insurance costs. In fact, some may actually lower your insurance rates. Examples include anti-theft and safety devices, according to the Idaho Department of Insurance.
Silverado options that fall into these categories include anti-lock brakes and side airbags. Other devices that can often lower insurance costs include vehicle alarm systems, tracking systems, and automatic seat belts.
A new model also comes with a limited warranty, which may save you money on insurance. Since you don’t want to duplicate insurance coverage, you can use the coverage under your warranty to substitute for collision or comprehensive coverage while the warranty is in effect. Once it expires, you can then add those types of coverage to your policy.
Chevrolet offers warranties even with the most basic 1500 at the lowest trim level.
These include bumper-to-bumper coverage for three years or 36,000 miles, powertrain/drivetrain coverage for five years or 100,000 miles, and roadside assistance and courtesy transportation for five years or 100,000 miles.
Although your used or existing Silverado may be past the manufacturer’s warranty zone, you can still look into installing anti-theft and safety devices. These devices may lower your premium while offering you an upgraded level of safety and security.
Factors That May Work Against Insurance Costs
The high price of a brand new elaborate Silverado may work against you for insurance prices, although the latest safety and security devices Chevy offers may help even it out a bit. Chevy full-size trucks are also a hot commodity for thieves, as noted by the National Insurance Crime Bureau.
The 1999 full-size Chevy pickup ranked in at No. 7 on the NICB’s top 10 list of most stolen vehicles for 2011.
This may increase the cost of insurance if you happen to have a Silverado that fits those parameters.
The way you use your truck could also work against you when it comes to insurance costs. This may especially apply if you consistently use it
In general, insuring a vehicle you use only for pleasure is less costly than insuring one you use to drive to work every day. Add work-related hauls and activities and insurance costs may increase even more.
One more factor in your insurance rates is your overall annual mileage. Low annual mileage typically keeps rates on the lower end of the scale, while a high annual mileage leads to higher rates.
Read more: Does annual mileage affect auto insurance rates?
Storing or parking your truck in a secured lot or location may net you lower rates than keeping it on the street. A street or open location is more likely to invite theft.
Where you live and drive the truck may also play a part. Rural locations with few chances of accidents or theft usually mean lower rates than highly populated urban locations.
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Personal Factors That Determine Insurance Rates
Other factors that play a part in your insurance rates have little or nothing to do with your Silverado but everything to do with you. Your driving record is one of the top factors in this category, according to the Texas Department of Insurance.
If your record is rife with accidents, insurance claims, and violations, you are likely to face a higher insurance rate than someone with a squeaky-clean record.
The Texas DOI also takes into account if you’ve ever driven uninsured in the state and other states may follow suit. Any mark on your record may mean a boost in the premium.
Your age, gender, and marital status are also taken into account when determining rates. While marital status does not seem to be a major factor for older drivers, statistics show younger married drivers generally have a safer driving record than younger single drivers do.
The Texas DOI says the highest rates usually go to young male drivers, under age 25, and young female drivers under age 21.
Read more: Why is auto insurance for young males so expensive?
On the flip side of the insurance rate scale, motorists over age 50 are often eligible for mature driver discounts.
One more personal factor that can play a part in your car insurance rates is your credit score. A solid history of paying your bills on time and a positive credit report may net you lower rates than a poor credit rating.
Types of Insurance Coverage Available
Obtaining insurance that complies with your state laws is the first place to start when insuring your Silverado. Most states generally require bodily injury liability and property damage liability.
The Illinois Department of Insurance explains liability coverage takes care of the damage or injury you cause to others in an accident for which you were at fault.
States may also require uninsured or underinsured motorist coverage, again for bodily injuries or property damage. These types of insurance cover damage to your own vehicle or your own injuries if the other person is at fault but has insufficient coverage to meet your needs.
Physical damage coverage, which consists of collision and comprehensive, covers the damage to your Silverado. It usually kicks in regardless of who is at fault for the accident.
Here’s where it may be worth it to opt for a higher limit on a newer Silverado, even if it increases your premium since the value of your truck is still high.
Collision covers damage from a collision while comprehensive covers damage from events other than a collision. Vandalism, storm damage, fire, and theft fall under comprehensive.
Optional Coverage for Your Chevy Silverado
Car insurance companies may offer a wide variety of optional coverage. These types are generally not required by state law and increase your premium. Choices may include towing, car rental reimbursement, and custom equipment.
If your Silverado is still covered under the roadside warranty, towing coverage would duplicate the coverage that you already have until the warranty expires.
Car rental reimbursement pays you back for the cost of renting a car while your Silverado is inoperable and being repaired.
Custom equipment takes care of additional electronics or other after-market features you may add to your truck. A stereo system, GPS mapping, and tracking devices may fall into the custom equipment category.
Companies may also offer medical payment and accidental death benefit coverage, the Illinois DOI says.
The former reimburses you for medical bills resulting from an accident that cost more than the bodily injury coverage limits. The latter pays a set amount to the family of the insured if the insured dies from accident-related causes.
If you are leasing a Silverado instead of buying one outright, another type of insurance may be useful for you. GAP coverage for leased vehicles takes into account the Silverado’s actual cash value and the amount you still need to pay on the lease. It then pays the difference between the two.
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Frequently Asked Questions
How does auto insurance for a Chevrolet Silverado work?
Auto insurance for a Chevrolet Silverado works like insurance for any other vehicle. It typically includes coverage for liability, collision, comprehensive, and optional add-ons.
The insurance premiums for a Chevrolet Silverado may vary based on factors such as the vehicle’s year, model, trim level, driver’s age, location, driving history, and the insurance provider’s policies.
What types of coverage are available for a Chevrolet Silverado?
The available types of coverage for a Chevrolet Silverado are similar to those for other vehicles. Common coverage options include:
- Liability coverage: This covers damages caused by your vehicle to other people or their property.
- Collision coverage: This pays for repairs or replacement if your Silverado is damaged in a collision with another vehicle or object.
- Comprehensive coverage: This covers non-collision-related damages, such as theft, vandalism, or natural disasters.
- Uninsured/underinsured motorist coverage: This protects you if you’re involved in an accident with a driver who doesn’t have sufficient insurance.
Are Chevrolet Silverado insurance rates generally higher or lower than average?
Insurance rates for a Chevrolet Silverado can vary depending on several factors. In general, Silverado insurance rates may be slightly higher than average due to factors such as the vehicle’s size, power, and potential repair costs.
Can I get discounts on Chevrolet Silverado insurance?
Yes, many insurance companies offer various discounts that may apply to Chevrolet Silverado owners. Some common discounts include:
- Multi-policy discount: If you have multiple insurance policies with the same provider (e.g., auto and home insurance), you may qualify for a discount.
- Safe driver discount: If you have a clean driving record without any accidents or traffic violations, you may be eligible for a safe driver discount.
- Anti-theft device discount: If your Silverado has anti-theft devices installed, such as an alarm system or GPS tracking, you may qualify for a discount.
- Good student discount: If you or a covered driver on your policy is a student with good grades, you may be eligible for a discount.
Do I need special insurance for modifications or accessories added to my Chevrolet Silverado?
If you have made modifications or added accessories to your Chevrolet Silverado, it’s important to inform your insurance provider. In some cases, you may need to purchase additional coverage to protect the value of the modifications or accessories.
Examples of modifications and accessories include lift kits, aftermarket wheels, performance enhancements, or specialized audio systems. Not disclosing modifications or accessories may result in coverage gaps or denied claims, so it’s crucial to communicate with your insurance company.
Can I save on insurance costs by raising my deductible?
Yes, opting for a higher deductible can often lower your insurance premiums. The deductible is the amount you pay out of pocket before your insurance coverage kicks in. However, it’s important to consider your financial situation and ability to pay the deductible in the event of a claim.
Are there any specific insurance considerations for different Chevrolet Silverado models or trims?
Yes, insurance considerations can vary based on the specific model or trim level of your Chevrolet Silverado. Factors such as engine size, horsepower, and safety features can influence insurance rates. Generally, higher-performance models or trims may have higher premiums due to increased repair costs or a higher likelihood of accidents.
It’s recommended to discuss your specific model and trim with your insurance provider to understand any potential impact on your coverage and premiums.
What should I do if my Chevrolet Silverado is involved in an accident or gets damaged?
If your Chevrolet Silverado is involved in an accident or sustains damage, follow these steps:
- Ensure safety: Check yourself and others for injuries and move to a safe location, if possible.
- Document the incident: Take photos of the accident scene and any damages to your vehicle.
- Exchange information: Exchange contact and insurance details with the other party involved.
- Notify your insurance provider: Contact your insurance company as soon as possible to report the incident and initiate the claims process.
- Follow instructions: Cooperate with your insurance company’s instructions regarding filing a claim, obtaining estimates, or arranging repairs.
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Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.