Buying cheap insurance for a Chevy Silverado is dependent upon many rating factors such as your gender, your geographic location, and if you have a history of accidents. Drivers pay approximately $1,705 each year to insure their Silverado, but that cost is a projection calculated based on a 30-year-old married male driver with both comprehensive and collision coverage and $100 deductibles.
There’s a high likelihood you may not be 30 years old (or even male), possibly single instead of married, or maybe you want different physical damage deductibles. Have just a small change in the factors used in pricing a policy can make a large difference in how much insurance for a Chevy Silverado costs.
Auto insurance is not the same for everyone, so the only way to find the cheapest rates for your Chevrolet is to do a thorough rate comparison.
The trim level of your Silverado has an effect on price, so the price you pay to insure a Silverado LS Regular Cab 2WD model will be $434 less than the insurance cost for the more costly Silverado Crew Cab Hybrid 4WD trim level, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$332||$564||$500||$30||$150||$1,576||$131|
|Silverado LS Regular Cab 4WD||$332||$564||$442||$26||$132||$1,496||$125|
|Silverado LT Regular Cab 2WD||$380||$686||$500||$30||$150||$1,746||$146|
|Silverado LT Regular Cab||$380||$686||$500||$30||$150||$1,746||$146|
|Silverado LS Extended Cab 4WD||$380||$686||$442||$26||$132||$1,666||$139|
|Silverado LT Extended Cab 4WD||$380||$686||$442||$26||$132||$1,666||$139|
|Silverado LT Extended Cab 2WD||$380||$686||$500||$30||$150||$1,746||$146|
|Silverado LS Extended Cab 2WD||$380||$686||$500||$30||$150||$1,746||$146|
|Silverado LT Crew Cab 4WD||$430||$810||$442||$26||$132||$1,840||$153|
|Silverado LS Crew Cab 2WD||$430||$810||$500||$30||$150||$1,920||$160|
|Silverado LS Crew Cab 4WD||$430||$810||$442||$26||$132||$1,840||$153|
|Silverado LT Crew Cab 2WD||$430||$810||$500||$30||$150||$1,920||$160|
|Silverado LTZ Extended Cab 2WD||$430||$810||$500||$30||$150||$1,920||$160|
|Silverado LTZ Extended Cab 4WD||$430||$810||$442||$26||$132||$1,840||$153|
|Silverado LTZ Crew Cab 2WD||$430||$810||$500||$30||$150||$1,920||$160|
|Silverado LTZ Crew Cab 4WD||$430||$810||$442||$26||$132||$1,840||$153|
|Silverado Crew Cab Hybrid 2WD||$430||$932||$442||$26||$132||$1,962||$164|
|Silverado Crew Cab Hybrid 4WD||$478||$932||$442||$26||$132||$2,010||$168|
|Get Your Own Custom Quote Go|
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Rate quotes do not factor in garaging location in Sacramento which can raise or lower prices substantially.
Figuring out which insurers offer the cheapest insurance rates for a Chevy Silverado will involve a bit more effort in order to find the most economical policy. Each company has their own unique process to set policy rates, so let’s rank the most affordable insurance companies in Sacramento, CA.
Best Auto Insurance Prices for Your Silverado Truck
|Rank||Company||Cost Per Year|
|Get a Custom Quote Go|
USAA quotes some of the cheapest car insurance rates in Sacramento at around $1,155 per year. Wawanesa, CSAA, Century National, and Nationwide would also make the list of some of the lowest-priced Sacramento, CA auto insurance companies.
As shown in the table above, if you are a customer of Century National and switched to USAA, you may realize annual savings of in the neighborhood of $71. Policyholders with Nationwide could save as much as $95 a year, and 21st Century customers might reduce rates by $211 a year.
Understand that those estimates are averaged for all drivers and vehicles in California and do not take into consideration a specific zip code for a Chevy Silverado. So the car insurance company that fits you best may not even be in the top 24 companies in the list above. That’s why you need to get auto insurance quotes using your own driver information and specific vehicle type.
The illustration below demonstrates how choosing different deductibles can affect insurance rates when quoting cheap insurance for a Chevy Silverado. The premium estimates are based on a married male driver, full physical damage coverage, and no discounts are taken into consideration.
In the chart above, a 30-year-old driver could lower their car insurance rates by $408 a year by changing from a $100 deductible to a $500 deductible, or save $618 by switching to a $1,000 deductible. Younger drivers, like the 20-year-old, can save up to $1,230 or more by choosing a higher deductible.
If you do make the decision to raise your deductibles, it will be important to have enough funds in savings to satisfy the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Full coverage or liability only
Saving on insurance is important to the majority of drivers, and one of the quickest ways to pay lower rates for insurance for a Chevy Silverado is to only pay for liability coverage. The information below illustrates the difference between insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on a clean driving record, no claims, $100 deductibles, drivers are single, and no discounts are factored in.
On average, physical damage coverage on your policy costs an additional $3,444 per year more than just insuring for liability. That proposes the question if paying for full coverage is a waste of money. There is no definitive rule to drop comp and collision coverage, but there is a general convention. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
There are some conditions where eliminating full coverage is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in case of an accident, you should keep full coverage in place.
Bad driving habits will cost you more
The common sense way to enjoy affordable insurance premiums for a Silverado pickup is to be a cautious driver and avoid accidents and traffic citations. The illustration below shows how violations and at-fault collisions raise car insurance costs for different age groups of insureds. The premiums assume a single male driver, full coverage, $500 deductibles, and no other discounts are factored in.
In the chart above, the average cost of a car insurance policy per year with a clean driving record and no accidents is $2,618. Get one speeding ticket and the average cost surges to $2,956, an increase of $338 each year. Now throw in two accidents along with the one speeding ticket and the 12-month cost of insurance for a Chevy Silverado increases to an average of $6,046. That’s an increase of $3,428, or $286 per month, just for being a careless driver!
If you aren’t clear which coverage you need and would like to have a professional recommendation when shopping for the best coverage for a Chevy Silverado, the insurance agencies listed below are a good start to help you determine which car insurance company is the best fit. To locate a Sacramento insurance agent close to you, click the link at the bottom.
- Sherman Chan – State Farm Insurance Agent
1355 Florin Rd Ste 1 – Sacramento, CA 95822 – (916) 422-1550
- Lori McCarter Curry – State Farm Insurance Agent
451 Park Fair Dr #2 – Sacramento, CA 95864 – (916) 487-5151
- Nationwide Insurance: Ham Insurance Agency Inc
2210 Del Paso Rd e – Sacramento, CA 95834 – (916) 419-8228
- Brian Clark – State Farm Insurance Agent
2331 El Camino Ave – Sacramento, CA 95821 – (916) 488-2212
- Trevor Fong – State Farm Insurance Agent
7485 Rush River Dr #715 – Sacramento, CA 95831 – (916) 392-1240