Do you think you bought an overpriced auto insurance policy? Believe me, there are lots of people in the same boat.
Regrettably, most auto insurance customers kept their coverage with the same auto insurance company for more than four years, and 38% of drivers have never compared quotes from other companies. Most drivers in Lincoln can save hundreds of dollars each year by just shopping around, but they don’t believe how much savings they would realize if they swap their current policy for a cheaper one.
Steps to finding discount Chevy Silverado insurance in Lincoln
If you want to save the most money, the best way to find discount auto insurance rates is to compare prices annually from different companies in Lincoln.
- Step 1: Try to comprehend how auto insurance works and the things you can change to keep rates low. Many factors that cause rate increases like distracted driving and an unacceptable credit score can be remedied by making lifestyle changes or driving safer.
- Step 2: Get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from a single company like Progressive or State Farm, while independent agents can quote prices from many different companies.
- Step 3: Compare the new rate quotes to the price on your current policy to see if you can save by switching companies. If you can save money, make sure coverage does not lapse between policies.
- Step 4: Provide adequate notice to your current company to cancel your current coverage. Submit a signed application and payment to the new insurer. As soon as you receive it, put the certificate verifying proof of insurance along with the vehicle’s registration papers.
A good piece of advice is that you’ll want to compare identical coverage information on each price quote and and to get prices from as many different companies as possible. This provides an accurate price comparison and plenty of rates choose from.
Due to the increasing number of companies and agents to choose from, it’s nearly impossible to pick the most cost effective auto insurance company.
Auto insurance analysis for a Chevy Silverado
The coverage table below showcases a range of coverage costs for Chevy Silverado models. Learning as much as possible about how insurance premiums are determined can help drivers make decisions on which coverage to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$120||$198||$346||$20||$104||$788||$66|
|Silverado LS Regular Cab 4WD||$120||$198||$306||$18||$92||$734||$61|
|Silverado LT Regular Cab 2WD||$138||$240||$346||$20||$104||$848||$71|
|Silverado LT Regular Cab||$138||$240||$346||$20||$104||$848||$71|
|Silverado LS Extended Cab 4WD||$138||$240||$306||$18||$92||$794||$66|
|Silverado LT Extended Cab 4WD||$138||$240||$306||$18||$92||$794||$66|
|Silverado LT Extended Cab 2WD||$138||$240||$346||$20||$104||$848||$71|
|Silverado LS Extended Cab 2WD||$138||$240||$346||$20||$104||$848||$71|
|Silverado LT Crew Cab 4WD||$156||$284||$306||$18||$92||$856||$71|
|Silverado LS Crew Cab 2WD||$156||$284||$346||$20||$104||$910||$76|
|Silverado LS Crew Cab 4WD||$156||$284||$306||$18||$92||$856||$71|
|Silverado LT Crew Cab 2WD||$156||$284||$346||$20||$104||$910||$76|
|Silverado LTZ Extended Cab 2WD||$156||$284||$346||$20||$104||$910||$76|
|Silverado LTZ Extended Cab 4WD||$156||$284||$306||$18||$92||$856||$71|
|Silverado LTZ Crew Cab 2WD||$156||$284||$346||$20||$104||$910||$76|
|Silverado LTZ Crew Cab 4WD||$156||$284||$306||$18||$92||$856||$71|
|Silverado Crew Cab Hybrid 2WD||$156||$326||$306||$18||$92||$898||$75|
|Silverado Crew Cab Hybrid 4WD||$174||$326||$306||$18||$92||$916||$76|
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Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nebraska minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Estimates do not factor in specific zip code location which can decrease or increase premiums noticeably.
Auto insurance rates by gender and age in Lincoln
The example below shows the difference between Chevy Silverado car insurance rates for male and female drivers. The premiums are based on no tickets, no at-fault accidents, comp and collision included, $500 deductibles, marital status is single, and no policy discounts are applied.
Difference between full coverage and liability only rates
The illustration below shows the comparison of Chevy Silverado insurance costs with full coverage and liability only. The rates are based on no claims or driving violations, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
When to eliminate full coverage
There is no clear-cut rule to stop paying for physical damage coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is 10% or more of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s assume your Chevy Silverado settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $2,000 after the policy deductible has been paid. If premiums are more than $200 annually for full coverage, then you may need to consider dropping full coverage.
There are some circumstances where only buying liability is not recommended. If you haven’t satisfied your loan, you have to carry full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Informed Consumers Know How to Quote Insurance More Affordably
Many things are used when you get a price on insurance. Some factors are common sense like a motor vehicle report, but others are not as apparent like your vehicle usage and annual miles driven.
Marriage is a factor – Being married actually saves money on your insurance bill. Having a significant other means you’re more stable financially and statistics show married drivers tend to have fewer serious accidents.
Urban residents pay more – Being located in small towns and rural areas has definite advantages when buying insurance. Fewer drivers and short commutes translates into fewer accident claims in addition to lower liability claims. Drivers in populated Nebraska areas have to deal with traffic congestion and more severe claims. Higher commute times translates into higher accident risk.
Never let your insurance policy lapse – Driving with no insurance can get you a ticket and insurance companies will penalize you for letting your insurance expire. Not only will you pay higher rates, not being able to provide proof of insurance can result in a fine, jail time, or a revoked license. You may then be required to file a SR-22 with the Nebraska motor vehicle department to get your license reinstated.
Pay less with a high safety rating – Cars with high safety ratings cost less to insure. Vehicles engineered for safety have better occupant injury protection and reduced instances of injuries means less money paid by your insurance company which can result in lower premiums. If the Chevy Silverado scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you are probably receiving a discount.
Performance influences insurance costs – The performance of the car you are insuring makes a huge difference in your auto insurance rates. Lower performance four cylinder passenger models receive the most favorable rates, but the cost you end up paying is determined by many additional factors.
The data below uses these variables: married male driver age 40, full coverage with $500 deductibles, and no discounts or violations. The data compares Chevrolet Silverado insurance rates compared to other models that have a range of performance rating factors.
Your stress level may be raising your rates – Do you have a high-stress occupation? Occupations like judges, air traffic controllers, and financial analysts are shown to have higher average rates because of stressful work requirements and incredibly demanding work hours. Conversely, jobs like professors, athletes and performers generally pay rates lower than average.
Don’t skimp on liability – Your policy’s liability coverage will protect you in the event that you are determined to be liable for damages caused by your negligence. Your liability coverage provides for a legal defense starting from day one. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
Good drivers pay lower rates – How you drive impacts premiums far more than you think. Good drivers have lower premiums than their less careful counterparts. Getting just one ticket can bump up the cost to the point where it’s not affordable. Drivers unfortunate enough to have multiple tickets like reckless driving, hit and run or driving under the influence may be required to maintain a SR-22 with their state motor vehicle department in order to prevent a license revocation.
The information below demonstrates how traffic citations and accidents raise Chevy Silverado car insurance rates for each age group. The information is based on a married female driver, full coverage, $250 deductibles, and no other discounts are factored in.
Insurance loss data for Chevy Silverado vehicles – Insurance companies use data from past claims when they file their rates in each state. Models that the data determines to have increased losses will cost more to insure. The data below shows the insurance loss data for Chevy Silverado vehicles.
For each policy coverage, the claim probability for all vehicles compiled together is represented as 100. Numbers that are below 100 mean the vehicle has better than average losses, while percentages above 100 show a trend for more claims or an increased likelihood of larger losses.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chevrolet Silverado 1500 2WD||76||118||85||78||69||125|
|Chevrolet Silverado 1500 4WD||60||76||72||54|
|Chevrolet Silverado 1500 Crew Cab 2WD||89||103||131||77||70||94|
|Chevrolet Silverado 1500 Crew Cab 4WD||96||105||116||57||57||87|
|Chevrolet Silverado 1500 Ext Cab 2WD||90||126||100||88||85||117|
|Chevrolet Silverado 1500 Ext Cab 4WD||84||98||89||60||60||88|
|Chevrolet Silverado 2500 2WD||60||65|
|Chevrolet Silverado 2500 4WD||66||97||66|
|Chevrolet Silverado 2500 Crew Cab 2WD||76||127||65|
|Chevrolet Silverado 2500 Crew Cab 4WD||88||114||97||45||42||82|
|Chevrolet Silverado 2500 Ext Cab 2WD||80||54|
|Chevrolet Silverado 2500 Ext Cab 4WD||79||105||83||37||43||75|
|Chevrolet Silverado 3500 4WD||65|
|Chevrolet Silverado 3500 Crew Cab 4WD||98||127||108||54||39||76|
|Chevrolet Silverado 3500 Ext Cab 4WD||129||127|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Frequent quotes can save
When trying to cut insurance costs, don’t be tempted to reduce needed coverages to save money. In too many instances, an insured dropped comprehensive coverage or liability limits only to regret they didn’t purchase enough coverage. Your focus should be to buy a smart amount of coverage at an affordable rate, but do not skimp to save money.
You just read a lot of techniques to reduce Chevy Silverado insurance premium rates online in Lincoln. It’s most important to understand that the more times you quote, the better your chances of lowering your prices. You may even find the lowest premium rates are with the smaller companies. Smaller companies may have significantly lower prices on certain market segments than the large multi-state companies such as State Farm and Allstate.
Steps to buying lower priced Chevy Silverado insurance in Lincoln
The most effective way to find more affordable car insurance rates in Lincoln is to make a habit of comparing prices annually from different companies who can sell car insurance in Nebraska.
First, try to learn about the coverage provided by your policy and the measures you can take to keep rates in check. Many policy risk factors that result in higher prices like tickets, at-fault accidents, and a lousy credit rating can be controlled by making lifestyle changes or driving safer.
Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from a single company like GEICO and Allstate, while independent agencies can give you price quotes for many different companies.
Third, compare the new quotes to the premium of your current policy to determine if you can save on Silverado insurance. If you find a lower rate and decide to switch, make sure there is no coverage gap between policies.
The key aspect of shopping around is to try to compare identical deductibles and limits on every quote and and to get quotes from as many car insurance companies as possible. Doing this helps ensure an accurate price comparison and a thorough price selection.
Additional insurance information can be found at the links below
- Tools for Teen Driving Safety (State Farm)
- Who Has Cheap Car Insurance Quotes for Inexperienced Drivers in Lincoln? (FAQ)
- How Much are Lincoln Auto Insurance Quotes for Good Drivers? (FAQ)
- Who Has Cheap Auto Insurance Rates for Immigrants in Lincoln? (FAQ)
- Who Has Cheap Lincoln Auto Insurance for High School Students? (FAQ)
- What Auto Insurance is Cheapest for Drivers with a Bad Driving Record in Lincoln? (FAQ)
- Vehicle Safety Ratings (iihs.org)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Auto Insurance Facts and Statistics (Insurance Information Institute)