Would you like to stop wasting money and find cheaper Chevy Silverado insurance in Austin? Finding cheaper insurance for a Chevy Silverado in Texas can turn out to be a painful process, but you can learn a few tricks to find lower rates.
There are both good and bad ways to find car insurance online and we'll show you the best way to quote coverages for a new or used Chevy and obtain the cheapest rates either online or from Austin insurance agents.
It is always a good idea to do rate comparisons on a regular basis because car insurance prices are variable and change quite frequently. Even if you got the best rates on Chevy Silverado insurance in Austin at your last renewal you will most likely find a better premium rate today. Forget all the misinformation about car insurance because we're going to show you the fastest and easiest way to reduce your cost while increasing coverage.
Informed Consumers Can Cut Their Insurance Prices
Smart consumers have a good feel for the factors that aid in calculating your policy premiums. If you have a feel for what determines base rates, this empowers consumers to make smart changes that can help you get lower premium levels.
Save money by eliminating add-on coverages - Policies have extra bells and whistles that you can get tricked into buying if you don't pay attention. Coverages for replacement cost coverage, death and dismemberment, and term life insurance are examples of these. They may seem good when discussing your needs, but if you don't need them think about removing them and cutting costs.
More stress means more cost - Occupations such as real estate brokers, business owners and stock brokers have the highest average rates in part from stressful work requirements and extremely grueling work hours. Other jobs like professors, historians and the unemployed pay lower than average rates.
Liability insurance - The liability section of your policy will protect you if ever you are determined to be liable for causing damage or personal injury in an accident. This coverage provides legal defense starting from day one. This coverage is very inexpensive compared to comp and collision, so insureds should have plenty of protection for their assets.
Insurance premiums and vehicle performance - The performance level of the car you are trying to find cheaper insurance for makes a substantial difference in your rates. The lowest rates are for economy passenger models, but that's not the only thing that factors into the final price. Since the Chevrolet Silverado is classified as a pickup truck, insurance will be similar in price as compared to the average rate in Austin.
Insurance losses for a Chevy Silverado - Car insurance companies take into consideration insurance loss statistics for every vehicle when setting premium costs. Vehicles that tend to have a trend towards higher claim severity or frequency will have a higher premium rate.
The information below illustrates the insurance loss data used by companies for Chevy Silverado vehicles. For each insurance policy coverage type, the statistical loss for all vehicles, as an average, is considered to be 100. Percentages below 100 imply a favorable loss record, while percentage numbers above 100 point to more claims or a tendency for claims to be larger.
Chevrolet Silverado Insurance Claim Statistics
|Vehicle 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|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The companies shown below are ready to provide price quotes in Austin, TX. If multiple providers are shown, we suggest you visit as many as you can to find the most competitive car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$234||$376||$444||$26||$132||$1,212||$101|
|Silverado LS Regular Cab 4WD||$246||$502||$430||$26||$128||$1,332||$111|
|Silverado LT Regular Cab 2WD||$230||$452||$560||$34||$168||$1,444||$120|
|Silverado LT Regular Cab||$294||$496||$430||$26||$128||$1,374||$115|
|Silverado LS Extended Cab 4WD||$254||$486||$430||$26||$128||$1,324||$110|
|Silverado LT Extended Cab 4WD||$206||$392||$430||$26||$128||$1,182||$99|
|Silverado LT Extended Cab 2WD||$206||$392||$452||$26||$136||$1,212||$101|
|Silverado LS Extended Cab 2WD||$142||$266||$414||$24||$124||$970||$81|
|Silverado LT Crew Cab 4WD||$210||$400||$366||$22||$110||$1,108||$92|
|Silverado LS Crew Cab 2WD||$176||$360||$452||$26||$136||$1,150||$96|
|Silverado LS Crew Cab 4WD||$318||$718||$430||$26||$128||$1,620||$135|
|Silverado LT Crew Cab 2WD||$186||$338||$444||$26||$132||$1,126||$94|
|Silverado LTZ Extended Cab 2WD||$246||$434||$444||$26||$132||$1,282||$107|
|Silverado LTZ Extended Cab 4WD||$176||$360||$400||$24||$120||$1,080||$90|
|Silverado LTZ Crew Cab 2WD||$286||$572||$452||$26||$136||$1,472||$123|
|Silverado LTZ Crew Cab 4WD||$234||$368||$500||$30||$150||$1,282||$107|
|Silverado Crew Cab Hybrid 2WD||$210||$462||$366||$22||$110||$1,170||$98|
|Silverado Crew Cab Hybrid 4WD||$458||$988||$514||$30||$154||$2,144||$179|
|Get Your Own Custom Quote Go|
Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Premium amounts do not factor in your specific Austin location which can lower or raise price quotes greatly.
Careless drivers pay higher rates
The information below demonstrates how citations and at-fault collisions can increase Chevrolet Silverado insurance premiums for different age groups. The premiums assume a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are factored in.
The example below highlights how deductible choice and can impact Chevrolet Silverado insurance costs for different categories of driver ages. The data is based on a single female driver, comp and collision included, and no additional discounts are factored in.
Full coverage rates compared to liability-only
The illustration below examines Chevrolet Silverado insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no claims or driving violations, $250 deductibles, single male driver, and no other discounts are factored in.
Guidelines for eliminating full coverage
There is no clear-cut rule of when to stop paying for comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let's assume your Chevrolet Silverado claim settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $3,000 after you pay the deductible. If you are paying in excess of $300 annually for full coverage, then it might be time to consider dropping full coverage.
There are some scenarios where removing full coverage is not advised. If you haven't paid off your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should not eliminate full coverage.
Well known brands might not be cheapest
Texas drivers can't avoid all the ads that promise big savings by State Farm, GEICO and Progressive. All the companies seem to make the promise that you can save just by switching to their company.
How can each company have lower policy pricing?
Companies have underwriting criteria for the type of driver that earns them a profit. One example of this type of insured should be over the age of 50, insures multiple vehicles, and drives a lower-performance vehicle. A customer getting a price quote that meets those criteria will get the preferred prices in Austin and have a good chance to save when they switch companies.
People who do not fit the ideal profile must pay higher premiums which usually ends up with the driver buying from a lower-cost company. The trick is to say "people that switch" not "everybody who quotes" save the amount stated. That's why insurance companies can make those claims.
Each company has different criteria, so drivers must get as many free Austin car insurance quotes as possible. You cannot predict with any certainty which company will have the best premium rates for your profile.
Insurance is not optional in Texas
Despite the potentially high cost of Chevy Silverado insurance, insuring your vehicle may be required for several reasons.
First, just about all states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability insurance coverage in order to be legal. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if your vehicle has a loan, more than likely the lender will stipulate that you buy insurance to guarantee payment of the loan. If you default on your policy, the bank or lender will purchase a policy for your Chevy at a much higher rate and force you to reimburse them for the much more expensive policy.
Third, insurance protects both your Chevy Silverado and your assets. Insurance will also pay for medical expenses for not only you but also any passengers injured in an accident. As part of your policy, liability insurance will also pay attorney fees in the event you are sued. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of carrying adequate insurance outweigh the cost, especially for larger claims. Despite what companies tell you, the average driver overpays as much as $850 per year so it's very important to do a rate comparison once a year at a minimum to help ensure money is not being wasted.
Companies offer many discounts on Chevy Silverado insurance in Austin
Some insurers don't necessarily list every discount they offer in a way that's easy to find, so the below list has some of the best known and the more hidden auto insurance savings. If you are not receiving all the discounts available, you are paying more than you should be.
- ABS and Traction Control Discounts - Cars and trucks that have steering control and anti-lock brakes prevent accidents and will save you 10% or more on Silverado insurance in Austin.
- Club Memberships - Participating in certain professional organizations is a simple method to lower premiums on your next renewal.
- Government Employee Discount - Being employed by or retired from a federal job may reduce rates when you quote Austin car insurance with some auto insurance companies.
- No Accidents - Insureds who avoid accidents and claims can save substantially as compared to drivers who are more careless.
- Responsible Driver Discount - Insureds without accidents can save up to 40% or more on their Austin car insurance quote than drivers with accident claims.
- Discount for Life Insurance - If the company offers life insurance, you could get a small discount if you purchase a life policy as well.
- Student Discount for Driver Training - Have your child enroll in driver's education in high school.
- Policy Bundle Discount - If you can combine your homeowners and auto policy with the same company you will save 10% to 20% off each policy.
- Anti-theft System - Cars, trucks, and SUVs equipped with anti-theft or alarm systems have a lower chance of being stolen and therefore earn up to a 10% discount.
- Senior Discount - Drivers over the age of 55 may be able to get lower premium rates.
Remember that most discount credits are not given to the overall cost of the policy. Most only apply to specific coverage prices like medical payments or collision. So even though you would think adding up those discounts means a free policy, you're out of luck.
Larger auto insurance companies and a selection of discounts can be found below.
- State Farm may have discounts that include defensive driving training, safe vehicle, multiple autos, good driver, student away at school, and driver's education.
- Progressive has savings for good student, online quote discount, continuous coverage, multi-policy, and homeowner.
- Travelers has discounts for continuous insurance, save driver, driver training, early quote, and multi-policy.
- American Family may offer discounts for TimeAway discount, mySafetyValet, good student, multi-vehicle, air bags, and defensive driver.
- Liberty Mutual offers discounts for hybrid vehicle, preferred payment discount, good student, teen driver discount, newly married, and multi-policy.
When quoting, ask each company or agent to apply every possible discount. Some discounts might not be offered everywhere. To see companies that provide some of the discounts listed above in Texas, click here to view.
Local Austin car insurance agents
A lot of people still prefer to sit down with an agent and doing that can be a smart decision Good insurance agents can help you choose the best coverages and help file insurance claims. A nice benefit of comparing rates online is that drivers can save money and get cheap auto insurance rates and still choose a local agent. And supporting local insurance agencies is important especially in Austin.
After filling out this simple form, your information is instantly submitted to insurance agents in Austin that can provide free Austin car insurance quotes for your business. You won't need to contact any agents as quotes are delivered to you. If you need to get a price quote from a specific insurance company, feel free to jump over to their website and submit a quote form there.
If you want to use local Austin agents, you should know the different types of agencies and how they can write your policy. Agents are classified as either exclusive or independent agents depending on their company appointments. Both insure your vehicles properly, but it's important to point out the difference between them since it may influence which agent you choose.
Independent Auto Insurance Agencies or Brokers
Agents that choose to be independent do not have single company limitations so they have the ability to put coverage with any number of different companies and potentially find a lower price. If you are not satisfied with one company, they simply move the coverage in-house which requires no work on your part.
If you are comparing auto insurance prices, you will want to get rate quotes from a few independent agents in order to have the best price comparison. Many write coverage with small mutual carriers that many times have cheaper rates.
Featured below is a partial list of independent insurance agents in Austin that may be able to give comparison quotes.
- Watkins Insurance Group
3834 Spicewood Springs Rd - Austin, TX 78759 - (512) 452-8877 - View Map
- Stuart Butts Agency Nationwide - Lezam insurance
700 Rio Grande St c - Austin, TX 78701 - (512) 837-5000 - View Map
- Lezam Insurance
4301 W. William Cannon Dr., Ste. B-120 - Austin, TX 78749 - (512) 263-4333 - View Map
Exclusive Insurance Agents
Agents that elect to be exclusive generally can only insure with one company and examples are Farmers Insurance, Allstate, or State Farm. They are unable to shop your coverage around so if the price isn't competitive there isn't much they can do. These agents are usually quite knowledgeable on their products and sales techniques which helps them sell insurance even at higher premiums. Some consumers prefer to purchase coverage from exclusives mostly because of high brand loyalty rather than low price.
Below is a list of exclusive insurance agents in Austin that can give you price quotes.
- J B Ruebsahm - State Farm Insurance Agent
1901 W William Cannon Dr #131 - Austin, TX 78745 - (512) 444-1845 - View Map
- Larry Evins - State Farm Insurance Agent
4534 West Gate Blvd #202 - Austin, TX 78745 - (512) 327-0303 - View Map
- State Farm: Charlie Anderson
12710 Research Blvd #210 - Austin, TX 78759 - (512) 258-2231 - View Map
Finding the right insurance agency shouldn't rely on just the quoted price. Some important questions to ask are:
- Do they regularly work with personal auto policies in Austin?
- Where are claims handled?
- Does the agency have a positive business rating?
- Is coverage determined by price?
- Is insurance their full-time profession?
Persistence will pay off
A few companies may not offer online quoting and many times these small, regional companies sell through independent agents. Affordable Chevy Silverado insurance in Austin is definitely available on the web in addition to many Austin insurance agents, so you should be comparing quotes from both so you have a total pricing picture.
When buying insurance coverage, it's a bad idea to reduce coverage to reduce premium. There are too many instances where someone sacrificed full coverage only to discover later that it was a big mistake. Your strategy should be to purchase plenty of coverage for the lowest price and still be able to protect your assets.
We just showed you some good ideas how to compare Chevy Silverado insurance premium rates in Austin. The most important thing to understand is the more companies you get prices for, the better your comparison will be. You may even find the lowest premium rates are with a company that doesn't do a lot of advertising.
For more information, link through to the articles below:
- Credit and Insurance Scores (Insurance Information Institute)
- What Auto Insurance is Cheapest for 4x4 Vehicles in Austin? (FAQ)
- How Much are Austin Auto Insurance Rates for Teenage Females? (FAQ)
- What Auto Insurance is Cheapest for College Students in Austin? (FAQ)
- Who Has the Cheapest Car Insurance for Government Employees in Austin? (FAQ)
- Who Has Affordable Car Insurance Rates for a Nissan Altima in Austin? (FAQ)
- Distracted Driving Extends Beyond Texting (State Farm)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)