Cheaper 2023 Chevrolet Silverado 3500HD Insurance Cost in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Apr 25, 2024

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Want cheaper insurance rates for your Chevrolet Silverado 3500HD? Nobody likes having to buy insurance, especially when they are aware that the price is too high. Numerous insurance companies battle for your business, and it can be difficult to compare rates to get the best price available.

If you have a current insurance coverage policy or are just looking to switch companies, you will benefit by learning to reduce the price you pay while maintaining coverages. Finding affordable coverage is quite easy. Drivers just need to learn the tricks to buy insurance coverage online.

How insurance providers calculate Chevy Silverado 3500HD insurance costs

A large part of saving on insurance coverage is knowing the rating factors that come into play when calculating the price you pay for insurance coverage. When you know what positively or negatively controls the rates you pay, this enables informed choices that could result in lower premium levels.

  • Increase physical damage deductibles to save – Deductibles for physical damage define the amount you are willing to pay out-of-pocket before your insurance coverage pays a claim. Protection for physical damage, also called ‘full coverage’, covers damage that occurs to your car. A few examples of covered claims are a windshield broken by a bird, vandalism, or theft of your vehicle. The more expense you pay before a claim is paid (deductible), the less money you will pay for insurance coverage on SilveradoHD insurance.
  • Avoid unnecessary extra coverages – There are a ton of add-on coverages that may not really be needed if you aren’t diligent. Coverages like personal injury protection, towing, and membership fees are probably not needed. They may seem like a good idea when you first buy your policy, but your money might be better spent on other coverage so consider taking them off your policy.
  • Youthful drivers cost more – Older insureds are viewed as being more responsible, file fewer claims , and usually have better credit. Young drivers tend to be careless and easily distracted in a vehicle therefore insurance coverage rates are much higher.
  • Accidents can increase costs – Good drivers pay lower auto insurance prices as compared to careless drivers. Just one ticket can bump up the cost by twenty percent. Drivers who get flagrant citations such as reckless driving or DUI may be required to file a SR-22 with their state DMV in order to keep their license.
  • Deter theft and pay less – Owning a car with a theft deterrent system can help bring down rates. Advanced theft deterrents like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping auto theft and help lower rates.
  • Never let your insurance coverage policy lapse – Allowing your insurance coverage policy to lapse is a sure-fire way to increase your insurance coverage rates. In addition to paying higher rates, being ticketed for driving with no insurance could result in a fine, jail time, or a revoked license. Then you may be required to prove you have insurance by filing a SR-22 with your state department of motor vehicles.
  • Limits of liability protection – Your insurance coverage policy’s liability coverage provides coverage when a jury decides you are liable for damages caused by your negligence. Liability provides you with a defense in court to defend your case. Liability is cheap compared to comp and collision, so insureds should have plenty of protection for their assets.

The best way we recommend to compare rates is to know the trick most larger insurance companies participate in online systems to give rate comparisons. All you need to do is provide a little information like if you lease or own, the type of vehicles you drive, whether you are married, and your occupation. Your rating data is submitted instantly to many highly-rated insurers and you should receive rate quotes immediately.

Get cheaper car insurance quotes with discounts

Insuring your fleet can be pricey, but you may qualify for discounts that may help make it more affordable. Most are applied at quote time, but less common discounts must be inquired about before they will apply.

  • Buy New and Save – Buying coverage on a new vehicle can cost up to 25% less due to better safety requirements for newer models.
  • Bundle and Save – When you have multiple policies with the same insurance company you will save up to 20% and get you low cost insurance coverage.
  • Homeowners Discount – Just being a homeowner may trigger a policy discount on car insurance because of the fact that having a home requires a higher level of personal finance.
  • Clubs and Organizations – Being in qualifying clubs or civic groups could earn you a nice discount when shopping for car insurance.
  • Save with More Vehicles Insured – Buying a policy with primary and secondary vehicles on the same car insurance policy qualifies for this discount.
  • Drive Safe and Save – Drivers who don’t get into accidents may receive a discount up to 45% on SilveradoHD insurance compared to rates paid by drivers with frequent claims.
  • Telematics Discount – Drivers that enable driving data submission to analyze driving habits by installing a telematics device such as Drivewise from Allstate or Snapshot from Progressive could see a rate decrease as long as the data is positive.
  • One Accident Forgiven – This one isn’t a discount, but a few companies such as State Farm and Allstate will forgive one accident without the usual rate increase with the catch being you have to be claim-free for a specific time period.

Don’t be shocked that some of the credits will not apply to the whole policy. The majority will only reduce the cost of specific coverages such as collision or personal injury protection. Despite the fact that it seems like having all the discounts means you get insurance for free, it just doesn’t work that way. Any amount of discount will positively reduce your overall premium however.

A few of the larger companies and some of their more popular discounts are:

  • State Farm may offer discounts for accident-free, multiple policy, defensive driving training, safe vehicle, and anti-theft.
  • GEICO includes discounts for membership and employees, anti-lock brakes, driver training, anti-theft, emergency military deployment, good student, and multi-policy.
  • Liberty Mutual has savings for good student, teen driver discount, newly married, new move discount, safety features, and newly retired.
  • The Hartford offers discounts including bundle, anti-theft, defensive driver, good student, and air bag.
  • MetLife discounts include claim-free, good driver, accident-free, multi-policy, and good student.
  • Progressive may include discounts for online signing, multi-policy, homeowner, multi-vehicle, and good student.

Before purchasing a policy, check with all companies you are considering which discounts you qualify for. Depending on the company, some discounts might not be available to policyholders in your area.

Tailor your car insurance coverage to you

When it comes to choosing the best car insurance coverage for your personal vehicles, there really is not a “best” method to buy coverage. Everyone’s needs are different and a cookie cutter policy won’t apply. For example, these questions can help discover if your insurance needs might need an agent’s assistance.

  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Is other people’s property covered if stolen from my vehicle?
  • Where can I find DUI or SR-22 insurance?
  • Does my personal policy cover me when driving out-of-state?
  • Are rental cars covered under my policy?
  • When should I drop full coverage on my 2023 Chevy Silverado 3500HD?
  • Is business equipment covered while in my vehicle?
  • How do I file an SR-22 for a DUI in my state?

If you can’t answer these questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, complete your zip code. It is quick, free and can provide invaluable advice.

Specifics of your car insurance policy

Learning about specific coverages of your car insurance policy can help you determine appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be confusing and reading a policy is terribly boring. These are the usual coverages found on most car insurance policies.

Collision coverages – This pays for damage to your Silverado 3500HD resulting from a collision with another car or object. A deductible applies and then insurance will cover the remainder.

Collision can pay for things like backing into a parked car, sustaining damage from a pot hole and crashing into a building. This coverage can be expensive, so consider dropping it from older vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.

Auto liability – This provides protection from damages or injuries you inflict on a person or their property. This coverage protects you from legal claims by others. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have a combined limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as repair costs for stationary objects, medical services, repair bills for other people’s vehicles and court costs. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like dental work, pain medications and doctor visits. They are often utilized in addition to your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage provides protection when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as damage to your Chevy Silverado 3500HD.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Usually your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Comprehensive insurance – This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like a broken windshield, hitting a deer and a tree branch falling on your vehicle. The maximum amount a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Shop smart and save

As you restructure your insurance plan, never sacrifice coverage to reduce premiums. There have been many situations where consumers will sacrifice uninsured motorist or liability limits to discover at claim time they didn’t have enough coverage. The aim is to get the best coverage possible at the best price, but do not sacrifice coverage to save money.

There are still a few companies who do not offer rate quotes online and these regional carriers only sell through independent agencies. Lower-priced insurance coverage is attainable on the web and from local insurance agents, and you should compare rates from both to have the best rate selection.

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