Finding competitive auto insurance for a Chevy Silverado is pretty simple, but it relies on an enormous amount of rating factors such as whether you are single or married, your credit status, and citations on your driving record. Drivers pay approximately $1,559 a year for Silverado insurance, but that figure is an estimate based upon a 50-year-old single male driver with full comprehensive and collision coverage and $100 deductibles.
There is a good probability you're not a 50-year-old male, you might be married instead of single, or maybe your Silverado is old enough that it doesn't require full coverage. Even a slight difference in rating criteria or coverage limits could end up in a significant change in the cost of insuring your Silverado.
Not every driver requires the same auto insurance coverages, so the best method for finding the cheapest insurance price for your Chevrolet is to do the rate comparisons yourself. Compare rate quotes now and you will receive prices from some of the cheapest companies that insure vehicles in Georgia.
Vehicle trim level tends to impact the insurance rate, so the price to insure a Silverado LS Regular Cab 2WD model will be $370 cheaper than the price to insure the more expensive Silverado Crew Cab Hybrid 4WD version, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$254||$518||$502||$30||$150||$1,454||$121|
|Silverado LS Regular Cab 4WD||$254||$518||$444||$26||$134||$1,376||$115|
|Silverado LT Regular Cab 2WD||$292||$630||$502||$30||$150||$1,604||$134|
|Silverado LT Regular Cab||$292||$630||$502||$30||$150||$1,604||$134|
|Silverado LS Extended Cab 4WD||$292||$630||$444||$26||$134||$1,526||$127|
|Silverado LT Extended Cab 4WD||$292||$630||$444||$26||$134||$1,526||$127|
|Silverado LT Extended Cab 2WD||$292||$630||$502||$30||$150||$1,604||$134|
|Silverado LS Extended Cab 2WD||$292||$630||$502||$30||$150||$1,604||$134|
|Silverado LT Crew Cab 4WD||$328||$742||$444||$26||$134||$1,674||$140|
|Silverado LS Crew Cab 2WD||$328||$742||$502||$30||$150||$1,752||$146|
|Silverado LS Crew Cab 4WD||$328||$742||$444||$26||$134||$1,674||$140|
|Silverado LT Crew Cab 2WD||$328||$742||$502||$30||$150||$1,752||$146|
|Silverado LTZ Extended Cab 2WD||$328||$742||$502||$30||$150||$1,752||$146|
|Silverado LTZ Extended Cab 4WD||$328||$742||$444||$26||$134||$1,674||$140|
|Silverado LTZ Crew Cab 2WD||$328||$742||$502||$30||$150||$1,752||$146|
|Silverado LTZ Crew Cab 4WD||$328||$742||$444||$26||$134||$1,674||$140|
|Silverado Crew Cab Hybrid 2WD||$328||$854||$444||$26||$134||$1,786||$149|
|Silverado Crew Cab Hybrid 4WD||$366||$854||$444||$26||$134||$1,824||$152|
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Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Georgia minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Prices do not factor in the specific area where the vehicle is garaged which can raise or lower rates significantly.
Trying to find budget insurance is tough enough, and deciding which company quotes the lowest-priced insurance rates for a Chevy Silverado in Georgia calls for more quotes for comparison. Every insurance company has a proprietary method for determining rates, so we'll go over the insurance companies that tend to be cheaper in Georgia.
It's a good idea to know that Georgia insurance rates are determined by lots of factors that will increase or decrease the price of your policy. Price variation is why it is so important to compare rates when trying to find the most economical insurance rates for a Chevy Silverado. Auto insurance prices are impacted by many risk factors and change substantially, so the most economical option the last time you checked may now be an over-priced policy.
Find the Cheapest Auto Insurance for Your Silverado Truck
|Rank||Company||Cost Per Year|
|6||Georgia Farm Bureau||$1,312|
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Auto-Owners may have some of the best car insurance rates in Georgia at around $839 annually. This is $690 less than the average price paid by Georgia drivers of $1,529. The Hartford, USAA, Central Mutual, and MetLife would also make the list of some of the cheapest Georgia car insurance companies.
As shown in the rates above, if you currently have a policy with MetLife and switched to The Hartford, you could see savings of approxmiately $343. Drivers with Georgia Farm Bureau might save as much as $417 a year, and Travelers policyholders might reduce prices by as much as $423 a year.
To compare your rates to other Georgia insurance companies, click here to begin a quote or quote prices from the following companies.
These premiums are averaged across all drivers and vehicles in Georgia and do not factor in a specific rate value for a Chevy Silverado. So the car insurance company that can offer you the best price may not even be in the top 20 companies in the list above. That emphasizes why you need to quote rates from many companies using your own individual information.
Should you buy full coverage?
Buying cheaper insurance is the goal of the majority of drivers, and one of the fastest ways to find cheap insurance for a Chevy Silverado in Georgia is to not buy full coverage. The example below visualizes the comparison of insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Georgia. Data assumes no accidents, no driving violations, $100 deductibles, drivers are not married, and no discounts are factored in.
As an average, physical damage coverage on your policy costs $3,070 per year more than carrying just liability coverage. At some point, every insured wonders if you should buy full coverage. There is no written rule that works best for making the decision to drop comp and collision coverage, but there is a general guideline. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it's probably a good time to buy liability coverage only.
For example, let's pretend your vehicle's settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, you would only receive $5,000 after the deductible is paid. If premium cost is more than $500 a year for full coverage, then you may want to consider only buying liability coverage.
Get discount Georgia insurance
Insurers that provide coverage for a Chevy Silverado could also offer rate discounts that may potentially lower prices by as much as 25% or more if you are eligible. A few popular companies and a partial list of their discounts can be found below.
- Progressive has discounts for multi-policy, good student, online signing, continuous coverage, homeowner, online quote discount, and multi-vehicle.
- Farmers Insurance discounts include youthful driver, good student, bundle discounts, early shopping, pay in full, and teen driver.
- Farm Bureau may have discounts that include safe driver, multi-vehicle, renewal discount, youthful driver, and multi-policy.
- State Farm has savings for good student, defensive driving training, Steer Clear safe driver discount, Drive Safe & Save, and multiple autos.
- GEICO includes discounts for daytime running lights, multi-policy, membership and employees, driver training, federal employee, military active duty, and emergency military deployment.
- SAFECO policyholders can earn discounts including safe driver, homeowner, anti-lock brakes, anti-theft, bundle discounts, accident prevention training, and drive less.
- Liberty Mutual may include discounts for multi-car, new vehicle discount, newly married, exclusive group savings, good student, multi-policy, and new move discount.
The example below compares insurance costs with and without discounts applied to the policy rates. Data assumes a female driver, no tickets, no at-fault accidents, Georgia state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with defensive driving course, anti-theft, accident-free, passive restraint, multiple vehicle, and homeowner discounts applied. When taking advantage of discounts, the the average yearly reduction on insurance for a Chevy Silverado is 28% or $766.
Why you should compare rates
Georgia insurance rates are based on many factors that control your annual premium. Turning one year older, increasing liability limits, or having a fender bender can produce rate changes resulting in some companies being more affordable than the competition. Not only that, but car insurance companies file new Georgia car insurance rates every year as an adjustment for underwriting gains or losses. Higher than usual claims may cause increased policy costs, while long-term profits may result in lower-cost Silverado insurance rates.
To help illustrate this point, the graph below shows which company has the cheapest car insurance in Georgia for a 40-year-old female driver with a good driving record, no prior claims, and a good credit history. If we estimate prices based on her current risk factors, Auto-Owners might offer the lowest car insurance rates in Georgia at $830 per year. This is $699 less than the average premium paid by Georgia drivers of $1,529. The Hartford, USAA, Central Mutual, and MetLife are the remainder of the best Georgia auto insurance companies.
The next chart shows rates after we give the driver from the above example some claims, slightly worse credit, and an imperfect driving record. Since every car insurance company has their own guidelines for setting rates, comparing prices may result in a significantly different list of cheap Georgia auto insurance companies as shown below.
The Hartford now has the cheapest auto insurance in Georgia with Travelers, Safeco, Mercury, and USAA now rounding out the top five. This shows why Georgia drivers need to compare many different companies when trying to find the most economical insurance rates for a Chevy Silverado. Insurance prices can be altered by many factors and change substantially, so the best price the last time you compared rates may now be costing you a lot of money.
Tips for buying economical auto insurance for a Chevy Silverado
The list below shows many penny-pinching ideas that can help Georgia drivers find cheap coverage.
- Do not get tickets
- If possible, do not file small claims
- Do not pay for full coverage on older vehicles
- At-fault accidents will increase rates
- Raise deductibles to save money
- Shop around for cheaper prices
That last piece of advice is certainly significant, as we discussed in the prior information. Prices charged by companies change frequently, so don't be hesitant to change to a new company if a cheaper price is available.
Many drivers tend to have loyalty to a certain company, but is isn't recommended if that loyalty ends up costing lots of hard earned cash every month. Take a few minutes and compare prices and find cheaper insurance for a Chevy Silverado.