Buying cheap coverage for a Chevy Silverado in Indiana doesn’t take a lot of effort, but it relies on an enormous amount of rating factors such as how you use your Silverado, if you have a tendency to file claims, and any prior driving citations you have received. Indiana drivers pay approximately $1,095 each year for Silverado insurance, but that is a valuation based on a 30-year-old single female driver with full physical damage coverage and $500 deductibles.
It’s more than likely you may not be 30 years old (or even female), you might be married instead of single, or maybe you just want liability only. Having just a slight change in the rating criteria used to formulate rates could end up with a large change in policy price.
Everyone has unique insurance needs, and this illustrates why the only way to find cheap insurance prices for your Chevrolet is to put in the effort to do a thorough rate comparison. Quotes are always free and you will be able to see rates from some of the best companies available.
View Chevrolet Silverado Insurance Rates
The trim level of your vehicle will influence the cost of coverage, so the rate you pay to insure a Silverado LS Regular Cab 2WD model will be $204 less expensive the price to insure the higher-priced 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||$170||$298||$428||$26||$128||$1,050||$88|
|Silverado LS Regular Cab 4WD||$170||$298||$380||$22||$114||$984||$82|
|Silverado LT Regular Cab 2WD||$196||$362||$428||$26||$128||$1,140||$95|
|Silverado LT Regular Cab||$196||$362||$428||$26||$128||$1,140||$95|
|Silverado LS Extended Cab 4WD||$196||$362||$380||$22||$114||$1,074||$90|
|Silverado LT Extended Cab 4WD||$196||$362||$380||$22||$114||$1,074||$90|
|Silverado LT Extended Cab 2WD||$196||$362||$428||$26||$128||$1,140||$95|
|Silverado LS Extended Cab 2WD||$196||$362||$428||$26||$128||$1,140||$95|
|Silverado LT Crew Cab 4WD||$220||$428||$380||$22||$114||$1,164||$97|
|Silverado LS Crew Cab 2WD||$220||$428||$428||$26||$128||$1,230||$103|
|Silverado LS Crew Cab 4WD||$220||$428||$380||$22||$114||$1,164||$97|
|Silverado LT Crew Cab 2WD||$220||$428||$428||$26||$128||$1,230||$103|
|Silverado LTZ Extended Cab 2WD||$220||$428||$428||$26||$128||$1,230||$103|
|Silverado LTZ Extended Cab 4WD||$220||$428||$380||$22||$114||$1,164||$97|
|Silverado LTZ Crew Cab 2WD||$220||$428||$428||$26||$128||$1,230||$103|
|Silverado LTZ Crew Cab 4WD||$220||$428||$380||$22||$114||$1,164||$97|
|Silverado Crew Cab Hybrid 2WD||$220||$492||$380||$22||$114||$1,228||$102|
|Silverado Crew Cab Hybrid 4WD||$246||$492||$380||$22||$114||$1,254||$105|
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Premium amounts do not factor in specific zip code location which can lower or raise insurance rates substantially.
Finding low-cost auto insurance is confusing at best, and finding out which companies offer the cheapest insurance rates for a Chevy Silverado calls for even more perseverance.
Every insurance provider uses their own formula for determining prices, so let’s take a look at the insurance companies with the most affordable rates in Indiana.
Best Auto Insurance Prices for Your Silverado Truck
|Rank||Company||Cost Per Year|
|5||Indiana Farmers Mutual||$841|
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Travelers generally has some of the best car insurance rates in Fort Wayne at around $596 each year. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual would also be considered some of the most economical Fort Wayne, IN auto insurance companies.
As the rates illustrate above, if you currently buy coverage from Erie and switched to Travelers, you could see yearly savings of upwards of $116. Customers with Indiana Farmers Mutual may save as much as $245 a year, and Western Reserve customers might reduce rates by $276 a year.
To discover how much you can save, click here to start your free quote or quote prices from the following companies.
It’s important to note that these rates are averaged for all drivers and vehicles and do not factor in an exact vehicle garaging location for a Chevy Silverado. So the auto insurance company that can offer you the lowest price may not even be in the list above. That point stresses why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
Discounts on Fort Wayne car insurance rates
Auto insurance companies that offer quotes for a Chevy Silverado may also offer rate discounts that can lower rates by 35% or more if you meet certain criteria. The best insurance companies and some of their more popular discounts are included below.
- Farmers Insurance has discounts for early shopping, teen driver, electronic funds transfer, good student, and switch companies.
- Esurance may have discounts that include good driver, renters, online shopper, claim free, and homeowner.
- State Farm has savings for defensive driving training, anti-theft, good driver, Steer Clear safe driver discount, student away at school, and accident-free.
- GEICO may include discounts for military active duty, good student, five-year accident-free, federal employee, anti-theft, multi-policy, and emergency military deployment.
- Allstate offers discounts including premier discount, anti-lock brakes, economy car, teenSMART discount, early signing, FullPay discount, and farm vehicle.
The example below illustrates the difference between yearly insurance costs with and without discounts applied to the premium. The premiums are based on a male driver, no claims or violations, Indiana state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with homeowner, multiple vehicle, marriage, defensive driving course, vehicle safety, and passive restraint discounts applied. When drivers qualify for the discounts, the average amount saved each year on insurance for a Chevy Silverado is 28% or $627.
Poor driving habits will raise your insurance rates
One of the best ways to obtain cheap insurance premiums for a Silverado pickup is to be a good driver and maintain a clean driving record. The information below highlights how speeding tickets and at-fault collisions can increase insurance premiums for different categories of driver ages. The rate quotes are based on a single male driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
The chart shows that the average cost of car insurance per year with no accidents and a clean driving record is $1,500. Add in one speeding ticket and the average cost surges to $1,694, an increase of $194 each year. Then add in one accident along with the one speeding ticket and the yearly cost of insurance for a Chevy Silverado increases to an average of $2,228. That’s an increase of $728, or $61 per month, just for not driving responsibly!
How much more does full coverage cost?
Paying a lower price for insurance should be important to the majority of people, and one of the fastest ways to find cheaper insurance for a Chevy Silverado is to not pay for full coverage. The diagram below compares insurance prices when comparing full coverage to liability only. The rates are based on no claims or violations, $250 deductibles, marital status is single, and no discounts are applied.
If all age groups are averaged, physical damage coverage on your policy costs $1,752 per year more than just buying liability only. At some point, every insured wonders if you should buy full coverage. There is no set guideline to drop comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than around 10% of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let’s pretend your vehicle’s book value is $10,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $9,000 after paying the physical damage deductible. If you are currently paying more than $900 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some conditions where removing full coverage is not a good idea. If you still owe money on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage on your policy.