The recommended way to get more affordable Chevy Silverado insurance in Tampa is to start doing an annual price comparison from insurance carriers in Florida. You can compare rates by following these guidelines.
- First, it will benefit you to learn about the different coverages in a policy and the things you can change to prevent rate increases. Many factors that result in higher prices like traffic violations and a poor credit score can be rectified by making minor changes in your lifestyle. Read the full article for ideas to get cheaper coverage and earn larger discounts.
- Second, get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from one company like GEICO or Farmers Insurance, while independent agents can quote rates from multiple companies.
- Third, compare the new rate quotes to your existing rates and determine if there is any savings. If you can save money, make sure coverage is continuous and does not lapse.
- Fourth, notify your company or agent to cancel the current policy and submit the required down payment along with the signed application to the new insurer. Once coverage is bound, safely store the certificate verifying coverage in your glove compartment.
The most important part of shopping around is that you’ll want to compare the same deductibles and limits on every quote request and and to analyze as many different companies as possible. This provides a fair rate comparison and and a good selection of different prices.
It’s an obvious assumption that auto insurance companies don’t want you to look at other companies. Insureds who get price quotes annually are likely to move their business because the odds are good of finding coverage at a cheaper rate. A recent auto insurance study revealed that drivers who shopped around saved about $865 annually compared to those who didn’t regularly shop around.
If finding budget-friendly rates on auto insurance is why you’re reading this, then having a grasp of the best way to compare car insurance can help simplify the task of finding more affordable coverage.
Finding the cheapest auto insurance coverage in Tampa seems hard but is not really that difficult. If you’re already insured, you will be able to get lower rates using the techniques covered below. You just have to learn the least time-consuming way to find the lowest price online.
Chevy Silverado detailed coverage information
The coverage information shown below covers detailed analysis of coverage prices for Chevy Silverado models. Learning as much as possible about how car insurance premiums are formulated can be of help when making smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Silverado LS Regular Cab 2WD | $196 | $352 | $532 | $32 | $160 | $1,272 | $106 |
| Silverado LS Regular Cab 4WD | $196 | $352 | $472 | $28 | $142 | $1,190 | $99 |
| Silverado LT Regular Cab 2WD | $226 | $430 | $532 | $32 | $160 | $1,380 | $115 |
| Silverado LT Regular Cab | $226 | $430 | $532 | $32 | $160 | $1,380 | $115 |
| Silverado LS Extended Cab 4WD | $226 | $430 | $472 | $28 | $142 | $1,298 | $108 |
| Silverado LT Extended Cab 4WD | $226 | $430 | $472 | $28 | $142 | $1,298 | $108 |
| Silverado LT Extended Cab 2WD | $226 | $430 | $532 | $32 | $160 | $1,380 | $115 |
| Silverado LS Extended Cab 2WD | $226 | $430 | $532 | $32 | $160 | $1,380 | $115 |
| Silverado LT Crew Cab 4WD | $254 | $506 | $472 | $28 | $142 | $1,402 | $117 |
| Silverado LS Crew Cab 2WD | $254 | $506 | $532 | $32 | $160 | $1,484 | $124 |
| Silverado LS Crew Cab 4WD | $254 | $506 | $472 | $28 | $142 | $1,402 | $117 |
| Silverado LT Crew Cab 2WD | $254 | $506 | $532 | $32 | $160 | $1,484 | $124 |
| Silverado LTZ Extended Cab 2WD | $254 | $506 | $532 | $32 | $160 | $1,484 | $124 |
| Silverado LTZ Extended Cab 4WD | $254 | $506 | $472 | $28 | $142 | $1,402 | $117 |
| Silverado LTZ Crew Cab 2WD | $254 | $506 | $532 | $32 | $160 | $1,484 | $124 |
| Silverado LTZ Crew Cab 4WD | $254 | $506 | $472 | $28 | $142 | $1,402 | $117 |
| Silverado Crew Cab Hybrid 2WD | $254 | $582 | $472 | $28 | $142 | $1,478 | $123 |
| Silverado Crew Cab Hybrid 4WD | $284 | $582 | $472 | $28 | $142 | $1,508 | $126 |
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Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Prices do not factor in the specific area where the vehicle is garaged which can impact auto insurance rates significantly.
The example below shows how different deductible levels and can impact Chevy Silverado annual premium costs for different age groups. The premium estimates are based on a single male driver, comp and collision included, and no other discounts are factored in.
Cost comparison with and without full coverage
The illustration below illustrates the difference between Chevy Silverado premium costs when comparing full coverage to liability only. The data is based on no violations or accidents, $500 deductibles, drivers are single, and no discounts are taken into consideration.
When to drop full coverage
There is no definitive formula for eliminating physical damage coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than about 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Chevy Silverado claim settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $3,000 after the deductible is paid. If premiums are more than $300 annually for your policy with full coverage, then it might be time to buy liability only.
There are some conditions where eliminating full coverage is not a good plan. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should maintain full coverage.
Why Informed Drivers Pay Less for Chevy Silverado Insurance
Smart consumers have a good feel for the factors that go into determining car insurance rates. If you have some idea of what determines base rates, this enables you to make decisions that could help you find lower rates. Lots of things are taken into consideration when you get a price on insurance. Some are obvious like an MVR report, but other factors are more obscure like where you live and annual miles driven.
The factors shown below are some of the things companies use to determine your rates.
- Insurance companies don’t like frequent insurance claims – If you are a frequent claim filer, you can expect either a policy non-renewal or much higher rates. Car insurance companies in Florida give the best rates to drivers who only file infrequent claims. Insurance coverage is designed for claims that pose a financial burden.
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Responsible drivers pay the best rates – Drivers who don’t get tickets have lower premiums as compared to careless drivers. Even a single moving violation can bump up the cost to the point where it’s not affordable. Drivers who get severe citations such as DUI, reckless driving or excessive speeding may find they need to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to legally drive.
The chart below shows how speeding tickets and accident claims influence Chevy Silverado yearly insurance costs for different insured age categories. The premiums are based on a married male driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.
- Policy add-ons may not be needed – There are a ton of additional extra coverages that may not really be needed if you aren’t diligent. Coverage for things like coverage for rental cars, accidental death, and membership fees could be just wasting money. The coverages may be enticing initially, but if you don’t need them eliminate them to save money.
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Type of car, truck or SUV determines base costs – The performance level of the car, truck or SUV you need insurance for makes a huge difference in your premium level. Small economy passenger models generally have the cheapest insurance rates, but your final cost has many other factors.
The next chart uses these assumptions: married male driver age 50, full coverage with $500 deductibles, and no discounts or violations. The chart compares Chevrolet Silverado insurance rates compared to other vehicles that have different performance risks.
- Getting married can save you money – Having a spouse may cut your premiums when buying car insurance. Having a spouse is viewed as being more responsible and insurance companies like that drivers who are married file infrequent claims.
- Drive less and save – The higher the mileage driven annually the more it will cost to insure it. Most companies rate vehicles based upon how you use the vehicle. Cars and trucks left parked in the garage get more affordable rates than those that get driven frequently. It’s always a good idea to double check that your policy is showing the correct usage, because it can save money. An incorrectly rated Silverado may be wasting your money.
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Chevy Silverado claim data – Car insurance companies take into consideration insurance loss statistics for every vehicle to help set a rate to offset losses. Models that have increased claim numbers or amounts will have higher premium rates. The table below outlines the collected loss data for Chevy Silverado vehicles.
For each policy coverage type, the loss probability for all vehicles, without regard to make or model, is a value of 100. Numbers that are below 100 represent a good loss history, while values over 100 point to more frequent losses or tendency to have higher losses.
Car Insurance Loss Data for Chevrolet Silverado Models Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Silverado 1500 2WD 76 118 85 78 69 125 Chevrolet Silverado 1500 4WD 60 76 72 54 Chevrolet Silverado 1500 Crew Cab 2WD 89 103 131 77 70 94 Chevrolet Silverado 1500 Crew Cab 4WD 96 105 116 57 57 87 Chevrolet Silverado 1500 Ext Cab 2WD 90 126 100 88 85 117 Chevrolet Silverado 1500 Ext Cab 4WD 84 98 89 60 60 88 Chevrolet Silverado 2500 2WD 60 65 Chevrolet Silverado 2500 4WD 66 97 66 Chevrolet Silverado 2500 Crew Cab 2WD 76 127 65 Chevrolet Silverado 2500 Crew Cab 4WD 88 114 97 45 42 82 Chevrolet Silverado 2500 Ext Cab 2WD 80 54 Chevrolet Silverado 2500 Ext Cab 4WD 79 105 83 37 43 75 Chevrolet Silverado 3500 4WD 65 Chevrolet Silverado 3500 Crew Cab 4WD 98 127 108 54 39 76 Chevrolet Silverado 3500 Ext Cab 4WD 129 127 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Do the work, save more money
Lower-priced car insurance in Tampa can be purchased from both online companies in addition to many Tampa insurance agents, so get free Tampa auto insurance quotes from both of them so you have a total pricing picture. Some car insurance companies do not offer the ability to get a quote online and these small, regional companies only sell coverage through independent insurance agents.
You just learned quite a bit of information on how to get a better price on Chevy Silverado insurance in Tampa. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. You may even find the lowest prices are with a lesser-known regional company. Smaller companies can often provide lower rates in certain areas as compared to the big name companies such as Allstate or State Farm.
Additional information can be found below:
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Who Has Affordable Tampa Auto Insurance Quotes for Government Employees? (FAQ)
- Who Has Affordable Auto Insurance Quotes for 18 Year Olds in Tampa? (FAQ)
- What Auto Insurance is Cheapest for Good Students in Tampa? (FAQ)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Safety Tips for Teen Drivers (Insurance Information Institute)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Understanding Rental Car Insurance (Insurance Information Institute)