Buying affordable coverage for a Chevy Silverado depends on an enormous amount of factors such as driver age, what you do for a living, and driving violations. Drivers will pay around $985 a year to insure their Silverado, but that is calculated based on a 30-year-old single male driver with full coverage and $1,000 deductibles.
More likely than not, you aren't exactly 30 years old or even a male, possibly married instead of single, or maybe you have a speeding ticket or two that will increase rates. Having the smallest difference in rating factors or requested coverage amount can make a big difference in rates.
Everone's needs are different, and this illustrates why the only real way to find cheap insurance rates for your Chevrolet is to put in the effort to do a thorough rate comparison.
The trim level of your Chevrolet impacts the cost of coverage, so the cost to insure a Silverado LS Regular Cab 2WD will be $128 lower than the cost to insure the fancier Silverado Crew Cab Hybrid 4WD trim level, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$146||$208||$456||$26||$136||$972||$81|
|Silverado LS Regular Cab 4WD||$146||$208||$404||$24||$120||$902||$75|
|Silverado LT Regular Cab 2WD||$168||$252||$456||$26||$136||$1,038||$87|
|Silverado LT Regular Cab||$168||$252||$456||$26||$136||$1,038||$87|
|Silverado LS Extended Cab 4WD||$168||$252||$404||$24||$120||$968||$81|
|Silverado LT Extended Cab 4WD||$168||$252||$404||$24||$120||$968||$81|
|Silverado LT Extended Cab 2WD||$168||$252||$456||$26||$136||$1,038||$87|
|Silverado LS Extended Cab 2WD||$168||$252||$456||$26||$136||$1,038||$87|
|Silverado LT Crew Cab 4WD||$190||$298||$404||$24||$120||$1,036||$86|
|Silverado LS Crew Cab 2WD||$190||$298||$456||$26||$136||$1,106||$92|
|Silverado LS Crew Cab 4WD||$190||$298||$404||$24||$120||$1,036||$86|
|Silverado LT Crew Cab 2WD||$190||$298||$456||$26||$136||$1,106||$92|
|Silverado LTZ Extended Cab 2WD||$190||$298||$456||$26||$136||$1,106||$92|
|Silverado LTZ Extended Cab 4WD||$190||$298||$404||$24||$120||$1,036||$86|
|Silverado LTZ Crew Cab 2WD||$190||$298||$456||$26||$136||$1,106||$92|
|Silverado LTZ Crew Cab 4WD||$190||$298||$404||$24||$120||$1,036||$86|
|Silverado Crew Cab Hybrid 2WD||$190||$342||$404||$24||$120||$1,080||$90|
|Silverado Crew Cab Hybrid 4WD||$210||$342||$404||$24||$120||$1,100||$92|
|Get Your Own Custom Quote Go|
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Rate information does not factor in vehicle garaging location which can decrease or increase auto insurance rates significantly.
Nevada car insurance company ratings
Ending up with a high-quality company can be challenging considering how many different companies insure vehicles in Nevada. The information shown next may help you select which auto insurers you want to consider when looking for cheaper rates. These rankings are for the largest companies in the United States, so companies without a large exposure will not be included in these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
Full coverage versus liability-only in Nevada
Reducing premiums for car insurance should be important to most people, and one of the easiest ways to reduce the cost of insurance for a Chevy Silverado in Nevada is to only buy liability insurance. The example below illustrates the comparison of car insurance costs with and without full coverage. The premiums are based on no accidents, no driving violations, $1,000 deductibles, drivers are not married, and no discounts are factored in.
On average, comp and collision coverage costs an extra $1,644 per year more than just buying liability only. At some point, almost every driver questions when is the right time to remove full coverage. There isn't a written rule of when to stop paying for physical damage insurance, but there is a guideline you can consider. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
There are some scenarios where eliminating full coverage is not financially feasible. If you haven't paid off your loan, you are required to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not buy liability only.
The importance of comparing Silverado insurance rates
Nevada car insurance rates are impacted by many factors which can significantly increase or decrease the cost of your policy. Simply having a birthday, becoming a homeowner, or having an accident can produce rate changes that can make some companies affordable when they were higher priced.
And not only may your rating factors change, but insurers amend pricing multiple times each year to adjust for unexpected claims or profits. A period of increased losses can cause increased rates, while a profitable period can produce lower-priced Silverado insurance rates.
The chart below demonstrates which company has the cheapest car insurance in Nevada for a 35-year-old female driver with no prior accidents, a clean driving record, and great credit. If we compare prices based on her current risk factors, Allied might offer the best car insurance rates in Nevada at $921 a year. This is $653 less than the average rate paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and Progressive are the rest of the cheapest Nevada auto insurance companies.
The next chart shows rates after we give the driver in the first example an accident claim, less-than-perfect credit, and a few blemishes on her driving record. Because each insurer uses their own method for filing rates in each state, comparing quotes could result in a different ranking of the cheapest companies as shown below.
Travelers now has the lowest price in Nevada with GEICO, USAA, Nationwide, and Capital also having competitive pricing. This example illustrates why it is critical to compare rates when trying to get the cheapest insurance quotes for a Chevy Silverado.
Insurance rates can be altered by many different factors and can change substantially, so the most affordable company three years ago may now be wasting a lot of money.
How to find more affordable auto insurance for a Chevy Silverado
The list below shows some thrifty suggestions that can help drivers get cheap coverage.
- Avoid at-fault accidents and claims
- Higher deductibles mean lower rates
- If possible, do not file small claims
- Do not get traffic violations
- Assess whether full coverage is needed
- Shop around and save
That last piece of advice is certainly necessary, as was affirmed in this write-up. Car insurance prices can change significantly in a year, so drivers shouldn't hesitate to buy a policy from a new company if a more affordable rate is found.
We understand brand loyalty, but it's not recommended if that loyalty ends up costing hundreds of dollars a year. It only takes a couple minutes to compare prices to find cheaper car insurance for a Chevy Silverado.