How Much Is Auto Insurance for a Chevy Silverado?
The average annual premium is $585 for minimum coverage and $1,682 for full coverage.
Whether it’s a state minimum or a full coverage policy, Freeway Insurance is ready to help you and your family find the right auto insurance coverage. Our expert team of advisors is on hand to provide cheap insurance quotes for your truck and help you reduce rates via discounts, and policy adjustments, such as raising deductibles.
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Comparing Insurance Costs for Your Silverado to Other Vehicles
Costs for Chevy pickups compared to other makes and models varies due to several factors, from the type of coverage you own to how often you use your vehicle. However, as a rule of thumb, newer vehicles typically cost more to insure, thanks to the risk of theft, repair costs, and value relative to comparable vehicles.
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Types of Truck Coverage for the Chevy
Chevy drivers can opt for different types of coverage, including full or state minimum liability and plenty of other additional protections.
Full coverage offers substantially greater protections over liability, adding comprehensive and collision to the mix. Collision protects against vehicle-to-vehicle, vehicle-to-object, and rollover collisions. In contrast, comprehensive coverage covers damages due to events outside your control, such as theft, hail and falling objects like tree branches.
The average annual full coverage premium for a Silverado is $1,682.
State Minimum Liability
The basic, state-mandated liability auto coverage includes bodily injury and property damage up to specified limits by state law. In addition, depending on the state, other types of coverage may be required, such as uninsured/underinsured motorist coverage, personal injury protection (PIP), and medical payments.
If you drive a truck, it makes sense to apply for full coverage over the state minimum. For example, state law in Indiana requires minimum liability of $25,000 per person, $50,000 per accident, and property damage liability of $25,000 per accident. In turn, Kentucky drivers must meet minimum bodily injury coverage of $25,000 per person, $50,000 per accident, and $25,000 in property damage liability, plus $10,000 in PIP. These low limits won’t go far in a major accident.
State Minimum Average Cost
Expect state minimum auto coverage for a Silverado to cost roughly $1,100 less than a full coverage policy, coming in at around $585 annually.
Additional Coverages for Your Silverado
There are plenty of choices for optional financial protection drivers can choose from, including GAP, roadside assistance, rental reimbursement and new car replacement.
Guaranteed asset protection, or GAP, can make a difference if your Chevy truck is totaled or stolen and you owe more than your insurer determines is the actual cash value (ACV). In the event of a total loss, GAP helps by paying off what you still owe after your carrier determines the actual cash value of your truck. You can also choose to carry new car replacement, which actually just gives you a new truck of the same make and model to replace yours if it gets totaled or stolen.
Roadside assistance is your 24/7/365 help when something goes wrong, such as a flat tire (no spare), get locked out, run out of gas and minor engine issues.
If your truck gets in a wreck and needs to be in the repair shop for any length of time, your rental car reimbursement coverage will help you pay for wheels to get around.
Your Freeway Insurance agent can help you decide what protection you need and want for your truck.
How Does a DUI Affect Rates for My Truck?
Any Chevy driver with a DUI conviction can expect higher rates, up to 93% higher. Many states like Florida even have statutes mandating particular minimum coverage for at least three years after being convicted.
A DUI conviction is costly, resulting in fines, administrative fees, and the required filing of an SR-22 (certificate of financial responsibility) in many states, which proves you are carrying the minimum required policy. In addition, expect premiums to stay elevated for a minimum of three years or until you reclassify a lower-risk driver with a claims-free record from the time of conviction.
Fortunately, drivers convicted of a DUI can see lower premiums over time by maintaining a clean driving record and comparing cheap DUI quotes.
What Are Some Insurance Discounts for Chevrolet Trucks?
There are many ways Chevy drivers can save.
Auto discounts are typically grouped into policy, driver behavior/characteristic, vehicle-based, and affiliation-based discounts.
- Policy discounts are awarded based on the way coverage is structured. For example, purchasing two or more policies from the same insurer, e.g., home and auto, may offer a 10% discount for bundling. Another popular policy discount is a pay-in-full discount, awarded to policyholders who pay their semi-annual or annual premiums upfront.
- Driver behavior/characteristic discounts factor in good driving discounts (claims free record for a minimum of three years) and usage-based, defensive, and low-mileage discounts.
- Lastly, former and current members of the military may be eligible for lower rates.
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What Are Some of the Characteristics of My Chevy Truck?
The Silverado is one of the best-selling pickup trucks in the United States today. It has several engine configurations, including turbocharged four cylinders and a 420-horsepower 6.2-liter V8. Its strength includes body style variety (Regular, Double, and Crew Cab body styles), stable ride, excellent off-road grip, and a monstrous towing capacity anywhere from 8,900 to 1,300 pounds, depending on the vehicle.
Another big draw is its higher trims. Its esteemed High Country trim comes loaded with towing options, multiple camera views (e.g., hitch guidance system with hitch view), and a multi-flex tailgate. It is even equipped with a semi-autonomous driving system (GM Super Cruise)
Find the Best Car Insurance Rates Online for Your Chevrolet Silverado Today
Freeway is ready to help all Chevy Silverado owners find the right policy. Whether it’s a state minimum liability-only policy or full coverage with comprehensive and collision, one of our friendly agents is waiting to present your options. To get started, find a free auto insurance quote online, call us at 800-777-5620 or visit a location near you.