Cheap 2016 Chevrolet Silverado 3500HD Car Insurance Cost

Having to pay for overpriced auto insurance can consume your accounts and put a big crunch on your finances. Doing a rate comparison is recommended to lower your bills every month.

Because there are so many companies and agents to choose from, it can be hard to find the lowest price auto insurance company.

Affordable insurance

There are a lot of ways to compare insurance quotes, but one way is more efficient than others. You can spend your afternoon driving to agents in your area, or you could save time and use online quoting to get rates in a matter of minutes.

Many companies belong to an insurance system where prospective buyers enter their policy data once, and each company can provide price quotes based on that information. This prevents consumers from doing repetitive form submissions for each company you want a rate for.

To access this free quoting program, click here (opens in new window).

The one disadvantage to using this type of system is you cannot specify which companies you will receive quotes from. So if you want to select specific insurance companies to compare, we put together a list of companies who write insurance in your area. Click here to view list.

It doesn’t matter which method you choose, just do your best to use the exact same information on every quote you get. If you use different deductibles then you won’t be able to decipher which rate is best.

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Don’t miss these money-saving discounts

Insurance is expensive, but you may find discounts that many people don’t even know exist. Certain discounts will be applied when you purchase, but a few must be specially asked for before you will receive the discount. If you’re not getting every credit possible, you’re just leaving money on the table.

• Professional Memberships – Affiliation with a professional or civic organization is a simple method to lower premiums on your policy.
• More Vehicles More Savings – Buying coverage for primary and secondary vehicles on one policy can get a discount for every vehicle.
• Discounts for Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle up before driving can save up to 10 percent (depending on the company) on medical payment and PIP coverage.
• Anti-lock Brake Discount – Cars, trucks, and SUVs with ABS and/or traction control can avoid accidents and earn discounts up to 10%.
• Home Ownership Discount – Being a homeowner can help you save on insurance since owning and maintaining a home is proof that your finances are in order.

Discounts save money, but please remember that most discount credits are not given to the entire cost. Some only apply to the price of certain insurance coverages like comprehensive or collision. Even though it may seem like having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy.

To view insurance companies who offer discounts, click here.

Do I need special coverages?

When choosing adequate coverage, there really is not a “best” method to buy coverage. Every situation is different so your insurance needs to address that. Here are some questions about coverages that can aid in determining if you might need professional guidance.

• Should I have combined single limit or split liability limits?
• Am I covered if I break a side mirror?
• Exactly who is provided coverage by my policy?
• Why is insurance for a teen driver so high?
• Is my babysitter covered when using my vehicle?
• Is other people’s property covered if stolen from my vehicle?
• Should I sign the liability waiver when renting a car?
• Should I waive the damage coverage when renting a car?

If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and can provide invaluable advice.

What impacts Chevy Silverado 3500HD insurance costs?

Multiple criteria are considered when quoting car insurance. Some are obvious like a motor vehicle report, but some are less apparent such as whether you are married or your vehicle rating.A large part of saving on car insurance is knowing some of the factors that aid in calculating the price you pay for car insurance. If you have a feel for what positively or negatively impacts your premiums, this allows you to make educated decisions that may reward you with lower premium levels.

• Drive fewer miles and save – The higher the mileage driven in a year’s time the more it will cost to insure it. Most companies rate vehicles partially by how you use the vehicle. Autos that have low annual miles can be on a lower rate level compared to those used for work or business. Double check that your car insurance declarations sheet properly reflects the correct usage, because it can save money. An incorrectly rated Silverado 3500HD is just wasting money.
• Bump up coverage deductibles to lower rates – The deductibles define how much you are required to spend if you file a covered claim. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. A few examples of covered claims are colliding with a stationary object, animal collisions, and damage caused by road hazards. The larger the amount you’re willing to pay, the less your company will charge you for insurance on SilveradoHD insurance.
• Pay more if you have a long commute – Residing in areas with lower population can be a good thing when shopping for auto insurance. City drivers tend to have more auto accidents and more severe claims. Fewer drivers translates into fewer accidents and also fewer theft and vandalism claims.
• Poor credit rating equals high costs – A driver’s credit score can be a huge factor in determining what you pay. Insureds that have very high credit ratings tend to be better drivers and file fewer claims than those with poor credit scores. Therefore, if your credit rating could use some work, you may save money insuring your 2016 Chevrolet Silverado 3500HD by repairing your credit.
• Which gender costs less? – Over the last 30 years, statistics show females are less aggressive when driving. However, don’t assume that females are better at driving than males. Both sexes are in auto accidents in similar numbers, but the men cause more damage and cost insurance companies more money. They also have more aggressive citations like DUI and reckless driving. Male drivers age 16 to 19 cause the most accidents and therefore are the most expensive to insure.

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Insurance coverage considerations

Understanding the coverages of your insurance policy can help you determine which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be confusing and coverage can change by endorsement. These are the usual coverages available from insurance companies.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage gives you protection when the “other guys” do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your Chevy Silverado 3500HD.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Liability coverages

Liability coverage provides protection from damage or injury you incur to people or other property. It protects YOU against other people’s claims. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.

Liability can pay for things such as court costs, emergency aid and repair bills for other people’s vehicles. How much coverage you buy is a personal decision, but buy as much as you can afford.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance reimburse you for expenses for funeral costs, ambulance fees, chiropractic care, dental work and pain medications. They can be used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay

Comprehensive insurance

Comprehensive insurance coverage covers damage that is not covered by collision coverage. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like damage from getting keyed, damage from a tornado or hurricane, a tree branch falling on your vehicle, rock chips in glass and falling objects. The maximum payout your insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Collision insurance

This will pay to fix damage to your Silverado 3500HD resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like damaging your car on a curb, scraping a guard rail, rolling your car, driving through your garage door and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Be a Smart Shopper

When shopping online for auto insurance, it’s not a good idea to buy lower coverage limits just to save a few bucks. There have been many cases where an insured cut comprehensive coverage or liability limits to discover at claim time that the few dollars in savings costed them thousands. The goal is to buy the best coverage you can find for the lowest cost and still be able to protect your assets.

You just learned a lot of ways to lower your 2016 Chevy Silverado 3500HD insurance rates. The most important thing to understand is the more times you quote, the better chance you’ll have of finding cheaper car insurance. Consumers could even find that the best rates are with an unexpected company. These companies may have significantly lower car insurance rates on certain market segments as compared to the big name companies such as State Farm, Geico and Nationwide.

Even more information can be found in these articles:

• Safety Tips for Teen Drivers (Insurance Information Insitute)
• Electronic Stability Control FAQ (iihs.org)
• Understanding Rental Car Insurance (Insurance Information Insitute)
• Crash Avoidance Technologies FAQ (iihs.org)

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