Cheapest 2020 Chevrolet Silverado 2500HD Insurance Rates in 2023
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UPDATED: Apr 9, 2020
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Purchasing the lowest price insurance coverage might seem somewhat intimidating for drivers who are new to price shopping on the internet. With such a large number of online companies available, how are we expected to effectively compare the different rates to find the lowest price available?
This article will tell you the best way to quote coverages and some money-saving tips. If you currently have car insurance, you should be able to reduce your rates substantially using this strategy. But vehicle owners must learn how insurance companies price insurance differently because it can help you find the best coverage.
Car insurance policy discounts you can’t miss
The price of auto insurance can be rather high, but you can get discounts that can dramatically reduce your bill. Many of these discounts will be applied automatically at the time you complete a quote, but some need to be manually applied prior to getting the savings.
- Passive Restraint Discount – Options like air bags and/or automatic seat belt systems can receive discounts as much as 30%.
- Low Miles Discount – Driving fewer miles could qualify for substantially lower rates.
- Anti-lock Brake System – Vehicles with ABS braking systems or traction control are safer to drive and the ABS can save up to 10%.
- Theft Deterent System – Cars equipped with anti-theft or alarm systems are stolen less frequently and that can save you a little bit as well.
- Discounts for Multiple Vehicles – Having multiple cars or trucks on one policy can get a discount on all vehicles.
- Pay Now and Pay Less – By paying your policy upfront instead of monthly or quarterly installments you can avoid the installment charge.
As a footnote on discounts, most of the big mark downs will not be given to the whole policy. Most only reduce specific coverage prices like liability, collision or medical payments. Even though it may seem like adding up those discounts means a free policy, you aren’t that lucky.
To choose car insurance companies with the best car insurance discounts, enter your zip code here.
Insurance agents can help
When buying adequate coverage for your personal vehicles, there really is not a one size fits all plan. Everyone’s needs are different.
For example, these questions may help you determine whether your personal situation would benefit from an agent’s advice.
- What is PIP insurance?
- Am I covered if I hit a deer?
- Is my teen driver covered when they drive my company car?
- Should I rate my 2020 Chevy Silverado 2500HD as pleasure use or commute?
- Can I rate high risk drivers on liability-only vehicles?
- Does medical payments coverage apply to all occupants?
If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, fill out your zip code.
Insurance coverages and their meanings
Having a good grasp of your policy aids in choosing appropriate coverage for your vehicles. Insurance terms can be confusing and even agents have difficulty translating policy wording.
Auto collision coverage
This pays for damage to your Silverado 2500HD resulting from a collision with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims such as scraping a guard rail, sideswiping another vehicle and backing into a parked car. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Another option is to raise the deductible to get cheaper collision coverage.
Coverage for medical payments
Medical payments and Personal Injury Protection insurance pay for expenses such as doctor visits, funeral costs, prosthetic devices and EMT expenses. The coverages can be utilized in addition to your health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and may carry a deductible
This covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as fire damage, hitting a deer, a tree branch falling on your vehicle and falling objects. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.
Liability coverage provides protection from injuries or damage you cause to other people or property in an accident. It protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 25/50/25 that means you have a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Another option is a combined limit which provides one coverage limit without having the split limit caps.
Liability coverage pays for claims like medical expenses, bail bonds, pain and suffering and court costs. How much coverage you buy is your choice, but it’s cheap coverage so purchase as large an amount as possible.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage gives you protection when other motorists are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and damage to your Chevy Silverado 2500HD.
Since many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Normally the UM/UIM limits are similar to your liability insurance amounts.
Make a quick buck
Low-cost 2020 Chevy Silverado 2500HD insurance is available both online as well as from independent agents, and you need to price shop both to get a complete price analysis. There are still a few companies who may not offer the ability to get a quote online and most of the time these regional insurance providers work with independent agents.
When buying insurance coverage, never buy poor coverage just to save money. In many cases, an insured cut physical damage coverage and found out when filing a claim that it was a big mistake. The goal is to buy a smart amount of coverage at the best cost, but do not skimp to save money.
Drivers who switch companies do it for a number of reasons such as being labeled a high risk driver, delays in paying claims, policy non-renewal and even not issuing a premium refund. It doesn’t matter what your reason, switching insurance companies can be pretty painless.
Even more information can be read in the articles below:
- Teen Driving Statistics (iihs.org)
- What is Covered by an Auto Insurance Policy? (Insurance Information Insitute)
- Safety Belts FAQ (iihs.org)
- Child Safety FAQ (iihs.org)
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