Finding cheaper auto insurance for a Chevy Silverado hinges on a lot of rating factors such as your marital status, the size of your vehicle, and physical damage deductibles. Drivers pay around $688 each year to insure their Silverado, but that cost is a projection calculated using a 40-year-old married male driver with full comprehensive and collision coverage and $500 deductibles.
When estimating a car insurance rate like we just did, the issue is that you are not 40 years old and maybe not even male, possibly single instead of married, or maybe you prefer to not insure for full coverage. Having even a minor difference in rating criteria may result in a big change in how much coverage for a Chevy Silverado costs.
Not every driver requires the same auto insurance coverages, so the best way to find the cheapest insurance price for your Chevrolet is to compare rates from as many companies as possible.
Your vehicle’s trim level has an effect on the coverage cost, so the price you will be charged to insure a Silverado LS Regular Cab 2WD trim level will be $128 cheaper than the price to insure the high end Silverado Crew Cab Hybrid 4WD trim level, as demonstrated by the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$114||$182||$268||$16||$80||$660||$55|
|Silverado LS Regular Cab 4WD||$114||$182||$236||$14||$70||$616||$51|
|Silverado LT Regular Cab 2WD||$132||$222||$268||$16||$80||$718||$60|
|Silverado LT Regular Cab||$132||$222||$268||$16||$80||$718||$60|
|Silverado LS Extended Cab 4WD||$132||$222||$236||$14||$70||$674||$56|
|Silverado LT Extended Cab 4WD||$132||$222||$236||$14||$70||$674||$56|
|Silverado LT Extended Cab 2WD||$132||$222||$268||$16||$80||$718||$60|
|Silverado LS Extended Cab 2WD||$132||$222||$268||$16||$80||$718||$60|
|Silverado LT Crew Cab 4WD||$148||$262||$236||$14||$70||$730||$61|
|Silverado LS Crew Cab 2WD||$148||$262||$268||$16||$80||$774||$65|
|Silverado LS Crew Cab 4WD||$148||$262||$236||$14||$70||$730||$61|
|Silverado LT Crew Cab 2WD||$148||$262||$268||$16||$80||$774||$65|
|Silverado LTZ Extended Cab 2WD||$148||$262||$268||$16||$80||$774||$65|
|Silverado LTZ Extended Cab 4WD||$148||$262||$236||$14||$70||$730||$61|
|Silverado LTZ Crew Cab 2WD||$148||$262||$268||$16||$80||$774||$65|
|Silverado LTZ Crew Cab 4WD||$148||$262||$236||$14||$70||$730||$61|
|Silverado Crew Cab Hybrid 2WD||$148||$302||$236||$14||$70||$770||$64|
|Silverado Crew Cab Hybrid 4WD||$166||$302||$236||$14||$70||$788||$66|
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Information does not factor in the specific area where the vehicle is garaged which can raise or lower coverage prices greatly.
Establishing which company offers the cheapest insurance rates for a Chevy Silverado involves a little more effort in order to find the lowest price. Every auto insurer has their own process for determining rates, so let’s examine the insurance companies that tend to have lower prices in Madison, WI.
It’s a good idea to know that Wisconsin insurance rates are impacted by many things which can substantially decrease or increase the cost of coverage. Simply getting older, becoming a homeowner, or getting a couple of tickets can trigger changes in premium that may make certain companies more affordable than before.
Cheap Insurance Rates for Your Silverado Truck
USAA has some of the cheapest car insurance rates in Madison at around $586 each year. This is $575 less than the average premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance also are some of the cheaper Madison, WI insurance companies.
In the above example, if you buy coverage from Rockford Mutual and switched to Partners Mutual, you could see an annual savings of roughly $110. Policyholders with Pekin Insurance could save as much as $131 a year, and Integrity Mutual policyholders might see rate reductions of $156 a year.
To find out how your current rates compare, click here to start your free quote or feel free to get quotes from the companies below.
Understand that those rates are averages for all drivers and vehicles in Wisconsin and and are not calculated with a specific location for a Chevy Silverado. So the company that fits your needs best may not even be in the top 30 companies shown above. That illustrates why you need to quote rates from many companies using your own driver and vehicle profiles.
Discount Madison car insurance rates
Insurers that sell policies for a Chevy Silverado may also offer special discounts that can lower rates by as much as 40% or more if you are eligible to receive them. A few of the larger companies and the discounts they provide are included below.
- Farm Bureau may have discounts that include 55 and retired, multi-policy, safe driver, good student, and youthful driver.
- Liberty Mutual policyholders can earn discounts including preferred payment discount, newly married, newly retired, new graduate, and safety features.
- State Farm has savings for accident-free, multiple autos, Steer Clear safe driver discount, passive restraint, and defensive driving training.
- Auto-Owners Insurance offers discounts including anti-lock brakes, multiple vehicles, mature driver, student away at school, group or association, multi-policy, and paid in full.
- GEICO offers discounts for driver training, defensive driver, anti-lock brakes, multi-vehicle, multi-policy, military active duty, and anti-theft.
- SAFECO includes discounts for homeowner, anti-lock brakes, accident prevention training, drive less, safe driver, bundle discounts, and teen safety rewards.
The illustration below illustrates the difference between insurance costs with and without discounts applied. The rates are based on a male driver, no driving violations, no at-fault accidents, Wisconsin state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with passive restraint, anti-theft, multiple policy, vehicle safety, safe-driver, and defensive driving course discounts applied. When discounts are factored in, theamount saved on insurance for a Chevy Silverado is 28% or $381.
Your low-price policy may be costing you money
Madison, WI insurance rates are calculated based on many things which can substantially decrease or increase the price of coverage. Getting older, moving to a different location, or getting a ticket for careless driving can trigger changes in premium that may make certain companies much cheaper than others. Not only may your risk profile change, but auto insurance companies change their prices without warning in order to remain profitable. Larger than normal claims can cause rate increases, while lower claim expenses can result in cheaper Silverado insurance rates.
To illustrate this example, the chart below shows which company has the cheapest car insurance in Madison, WI for a 45-year-old male driver with no accidents or violations, and great credit. If we look at prices based on his current risk profile, USAA might quote the best car insurance rates in Madison at $665 per year. This is $496 less than the average price paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance are the remaining best Madison, WI auto insurance companies.
Now we will give the driver from the first set of rates some claims, bad credit, and an imperfect driving record. Since every car insurance company has their own process to set policy rates, comparing quotes may result in a different ranking of companies as shown below.
Nationwide now has the lowest car insurance rate in Madison with Rural Mutual Insurance, Integrity Mutual, Travelers, and Partners Mutual now rounding out the top five. This illustrates why it is important to shop around with many companies when trying to get the most affordable insurance rates for a Chevy Silverado. Auto insurance prices are influenced by many different factors and change substantially, so the cheapest rate the last time you shopped around may now be one of the higher cost companies.
How to find more affordable insurance for a Chevy Silverado
Below you’ll find a few penny-pinching solutions that can help you quote lower-cost car insurance.
- Increase your deductibles
- Increase your credit score
- Be a safe driver
- Drive attentively and avoid accidents
- Bundle car and home insurance and save money
- Avoid filing excessive claims
- Compare price quotes at least once a year
The last suggestion is very necessary, as was affirmed in the article above. Auto insurance rates can change considerably based on profitability, so drivers shouldn’t be resistant to change insurance companies if you can save money.
Many drivers prefer to stick with one company, but it’s not a good idea if that inflexibility results in costing you a small fortune year after year. Take a few minutes and shop around to find cheaper insurance for a Chevy Silverado in Madison.
The auto insurance agents in Madison shown below can most likely help you make a decision which is the best policy, as some drivers have questions and prefer to have a little guidance when shopping around for cheaper insurance for a Chevy Silverado. It’s not always simple to find the best rates on your own, and getting professional guidance from a licensed agent can provide satisfaction knowing you have enough coverage if you have a claim.
To locate a Madison insurance agent near you, click the button at the bottom.
- Aaron Perry – State Farm Insurance Agent
2605 Monroe St – Madison, WI 53711 – (608) 238-7107
- American Family Insurance – Ed Flynn
514 Grand Canyon Dr – Madison, WI 53719 – (608) 833-1717
- Spectrum Insurance Group – Madison
525 Junction Rd #8505 – Madison, WI 53717 – (608) 204-7055
- Abacus-Bertz Financial
6417 Odana Rd Suite 13 – Madison, WI 53719 – (608) 238-5800
- Larry Sain – State Farm Insurance Agent
424 S Park St – Madison, WI 53715 – (608) 257-5132