Finding competitive auto insurance for a Chevy Silverado in North Carolina depends on a complicated formula that considers factors such as the safety rating for your Silverado, your residence address, and any prior driving offenses. North Carolina drivers pay around $903 per year to insure their Silverado, but that is an estimate based on a 40-year-old single female driver with both comprehensive and collision coverage and $500 deductibles.
But there is a high likelihood that you may not be 40 years old (or even female), maybe you are married instead of single, and maybe you want higher deductibles. Having even a minor difference in rating variables or coverage information can result in a massive change in the cost of insuring your Silverado.
Different coverage needs are the reason why the best method for finding cheap auto insurance rates for your Chevrolet is to do a thorough rate comparison.
The specific model of Silverado has an effect on the insurance rate, so the price to insure a Silverado LS Regular Cab 2WD model will cost $158 less than the price to insure the higher-end Silverado Crew Cab Hybrid 4WD model, as demonstrated by the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$130||$242||$366||$22||$110||$870||$73|
|Silverado LS Regular Cab 4WD||$130||$242||$324||$20||$96||$812||$68|
|Silverado LT Regular Cab 2WD||$150||$296||$366||$22||$110||$944||$79|
|Silverado LT Regular Cab||$150||$296||$366||$22||$110||$944||$79|
|Silverado LS Extended Cab 4WD||$150||$296||$324||$20||$96||$886||$74|
|Silverado LT Extended Cab 4WD||$150||$296||$324||$20||$96||$886||$74|
|Silverado LT Extended Cab 2WD||$150||$296||$366||$22||$110||$944||$79|
|Silverado LS Extended Cab 2WD||$150||$296||$366||$22||$110||$944||$79|
|Silverado LT Crew Cab 4WD||$170||$348||$324||$20||$96||$958||$80|
|Silverado LS Crew Cab 2WD||$170||$348||$366||$22||$110||$1,016||$85|
|Silverado LS Crew Cab 4WD||$170||$348||$324||$20||$96||$958||$80|
|Silverado LT Crew Cab 2WD||$170||$348||$366||$22||$110||$1,016||$85|
|Silverado LTZ Extended Cab 2WD||$170||$348||$366||$22||$110||$1,016||$85|
|Silverado LTZ Extended Cab 4WD||$170||$348||$324||$20||$96||$958||$80|
|Silverado LTZ Crew Cab 2WD||$170||$348||$366||$22||$110||$1,016||$85|
|Silverado LTZ Crew Cab 4WD||$170||$348||$324||$20||$96||$958||$80|
|Silverado Crew Cab Hybrid 2WD||$170||$400||$324||$20||$96||$1,010||$84|
|Silverado Crew Cab Hybrid 4WD||$188||$400||$324||$20||$96||$1,028||$86|
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Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Price information does not factor in vehicle garaging location which can affect coverage prices significantly.
Finding out which company has the most affordable insurance rates for a Chevy Silverado requires a little more effort in order to find the lowest price. Each company uses a slightly different approach for establishing rates, so we’ll go over the most competitive insurance companies in Greensboro, NC.
It’s important to understand that Greensboro, NC insurance rates are based on many factors that may substantially change the price you have to pay. Simply getting older, getting divorced, or having a fender bender can trigger price changes that can make some companies cheaper than competitors.
Best Insurance Companies for Your Silverado Truck
Utica National offers some of the cheapest car insurance rates in Greensboro at around $643 each year. Progressive, NC Farm Bureau, Penn National, and GEICO would also be considered some of the lowest-priced Greensboro, NC car insurance companies.
As shown in the rates above, if you are a customer of Progressive and switched to Utica National, you might realize an annual premium reduction of about $15. Policyholders with NC Farm Bureau could save as much as $66 a year, and Penn National insureds might cut rates by $74 a year.
Bear in mind that those policy rates are averaged for all drivers and vehicles and do not factor in an exact vehicle garaging location for a Chevy Silverado. So the company that is best for you may not even be in the list above. That’s why you need to compare rates from multiple companies using your own driver information and specific vehicle type.
Do you need full coverage?
Saving on insurance should be important to most people, and a great way to find cheap insurance for a Chevy Silverado is to not buy full coverage. The diagram below visualizes the comparison of annual premium costs with and without full coverage. The premiums are based on no claims or violations, $500 deductibles, single marital status, and no discounts are applied to the premium.
As an average, physical damage coverage costs an extra $1,507 per year over and above liability only. Many people question if it’s worth it to buy full coverage. There isn’t a written rule to stop paying for full coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is about 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 say your vehicle’s claim settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $2,000 after the deductible is paid. If premiums are more than $200 a year for full coverage, then it might be time to consider dropping full coverage.
There are some cases where eliminating full coverage is not financially feasible. If you still have a lienholder on your title, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
Compare rates to save
Greensboro, NC insurance rates are determined by lots of factors that can increase the cost of your policy. Simply getting older, moving across town, or getting a DUI can trigger rate changes resulting in some companies being more affordable than competitors. In addition, car insurance companies file new North Carolina car insurance rates every year or even multiple times each year in order to remain profitable. An unexpected high level of claims can cause higher priced premiums, while less frequent claims may produce more affordable Silverado insurance rates.
To illustrate this point, the data below shows the cheapest car insurance in Greensboro, NC for a 35-year-old male driver with a clean driving record, no accidents, and great credit. When quoting prices based on his personal profile, Utica National might quote the most affordable car insurance rates in Greensboro at $750 a year. This is $122 less than the average rate paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National are the remainder of the most affordable Greensboro, NC auto insurance companies.
Now we will give the driver from above a chargeable accident, a lower credit rating, and a speeding ticket. Due to the fact that each insurance company has a proprietary formula to determining premium rates, analyzing rate quotes may now show a substantially altered list of the cheapest car insurance companies in Greensboro as shown below.
Titan now has the best car insurance rate in Greensboro, NC with State Farm, Auto-Owners, National General, and Progressive also having competitive pricing. This example proves why consumers need to compare many different companies to get cheap car insurance rates for a Chevy Silverado. Insurance prices are calculated by many things and change dramatically, so the best price six months ago may now cost much more than other companies.
How to find economical insurance for a Chevy Silverado
It is possible to find better rates, and here are some of the better money-saving ideas that can help you quote low-cost auto insurance.
- Frequent claims may make car insurance unaffordable
- Be a cautious driver
- Avoid at-fault accidents and claims
- Safer vehicles generally have cheaper insurance rates
- Buy your homeowners policy from the same company as your auto insurance
- Compare rate quotes frequently
The final tip is notably necessary, as was emphasized in this piece. Coverage rates can change in a short period of time, so don’t be afraid to switch carriers if a better deal can be had.
Having a favorite company is great, but it isn’t a good idea if that devotion results in you overpaying thousands of dollars over the life of your policy. In just a couple of minutes you could compare rates and find cheaper auto insurance for a Chevy Silverado in Greensboro.