How Much Does 2003 Chevrolet Silverado 2500 Car Insurance Cost?

No one in their right mind likes paying for car insurance, particularly when they are paying too much.

With consumers having so many insurance companies to choose from, it is very difficult to locate the cheapest car insurance company.

You should take the time to price shop coverage before your policy renews since insurance rates fluctuate regularly. If you had the best rates for Silverado insurance on your last policy the chances are good that you can find a lower rate today. So just block out anything you think you know about car insurance because you’re going to learn the things you must know in order to remove unneeded coverages and save money.

Buying car insurance is not rocket science. Basically, every driver who carries car insurance stands a good chance to be able to find lower rates. But drivers must learn the methods companies use to market on the web and use this information to your advantage.

Which Auto Insurance is Cheapest?

Performing a rate comparison can take hours if you don’t understand the most efficient way. You can waste a lot of time talking about coverages with insurance companies in your area, or you can utilize online quotes to get the quickest rates.

Most of the best insurance companies enroll in a system that enables customers to submit one quote, and every company then returns a price quote determined by their information. This saves time by eliminating form submissions to each individual auto insurance company.

To participate in this free quote system, click here to open in new window.

The one disadvantage to comparing rates this way is you cannot specify which companies to get pricing from. So if you want to select specific providers to request quotes from, we have a page of companies who write auto insurance in your area. Click here to view list.

Whichever way you use, be sure to compare exactly the same coverage information on every quote. If you compare different limits and deductibles on each one it will be impossible to make a fair comparison for your Chevy Silverado 2500. Quoting even small variations in coverage limits could mean much higher rates. It’s important to know that quoting more helps you find better pricing.

Don’t miss these discounts

Companies offering auto insurance don’t necessarily list every available discount in a way that’s easy to find, so we break down some of the more common as well as the least known ways to save on car insurance.

  • Homeowners Pay Less – Owning a home may trigger a car insurance policy discount because owning a home requires personal responsibility.
  • Paperless Signup – A handful of insurance companies will give a small break simply for signing digitally online.
  • Lower Rates for Military – Being deployed with a military unit can result in better rates.
  • Passive Restraints and Air Bags – Cars that have air bags or motorized seat belts can get savings of more than 20%.
  • Drivers Ed for Students – Cut your cost by having your teen driver complete a driver education course in school.
  • Senior Citizens – Older drivers can possibly qualify for better car insurance rates for Silverado insurance.
  • Safe Drivers – Insureds without accidents may receive a discount up to 45% less for Silverado insurance than less cautious drivers.
  • Federal Government Employee – Active or retired federal employment can save as much as 8% for Silverado insurance with select insurance companies.

As a disclaimer on discounts, many deductions do not apply to your bottom line cost. Some only apply to individual premiums such as comprehensive or collision. So when the math indicates adding up those discounts means a free policy, you’re out of luck.

To see a list of providers with the best car insurance discounts, follow this link.

Chevy Silverado 2500 premiums are determined by many factors

Consumers need to have an understanding of the different types of things that play a part in calculating the price you pay for auto insurance. Having a good understanding of what impacts premium levels allows you to make educated decisions that could result in much lower annual insurance costs.

  • Choose a safe vehicle and save – Vehicles with good safety scores get lower rates. Safe vehicles have better occupant injury protection and any reduction in injury severity translates into fewer and smaller insurance claims and lower rates for you. If your Chevy Silverado 2500 earned at least four stars on it is probably cheaper to insure.
  • Your occupation can affect rates – Occupations like judges, social workers and accountants tend to pay higher rates than average due to high stress and lengthy work days. On the flip side, jobs such as actors, athletes and retirees have the lowest average rates for Silverado insurance.
  • Rural vs Urban Areas – Being located in less populated areas is a positive aspect when talking about auto insurance. Urban drivers have more traffic problems and a longer drive to work. Less people living in that area translates into fewer accidents and a lower car theft rate.
  • What are your deductibles? – Physical damage deductibles define the amount you are required to spend before a claim is paid by your company. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Examples of covered claims are running into the backend of another car, damage caused by hail, and rolling your vehicle. The higher the amount you’re willing to pay, the less your auto insurance will be for Silverado insurance.
  • Better credit means lower rates – Credit score is a important factor in determining your rates. So if your credit history is lower than you’d like, you could pay less to insure your 2003 Chevrolet Silverado 2500 by spending a little time repairing your credit. Drivers with high credit scores tend to file fewer claims and have better driving records than drivers with poor credit.
  • Your spouse saves you money – Getting married can get you a discount on your auto insurance policy. Having a spouse translates into being more responsible it has been statistically shown that drivers who are married are more cautious.

When might I need help?

When buying the right insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Every insured’s situation is different and your policy should reflect that. For example, these questions may help highlight whether your personal situation would benefit from professional advice.

  • What can I do if my company won’t pay a claim?
  • Do I need added coverage for expensive stereo equipment?
  • What is an SR-22 filing?
  • Which companies will insure high-risk drivers?
  • Why am I required to buy liability insurance?
  • Is there coverage for injuries to my pets?
  • Is my camper covered by my car insurance policy?
  • Should I carry comprehensive and collision coverage?
  • Does insurance cover damages from a DUI accident?

If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.

The car insurance bait and switch

Progressive, Allstate and GEICO constantly bombard you with ads in print and on television. All the companies make the same claim about savings if you switch your policy. How do they all make almost identical claims?

All the different companies have a certain “appetite” for the right customer they prefer to insure. For instance, a desirable insured could possibly be a mature driver, has no driving citations, and drives less than 7,500 miles a year. A propective insured who meets those qualifications receives the best rates and as a result will probably save when they switch companies.

Potential insureds who don’t meet the requirements must pay more money and ends up with the driver buying from a lower-cost company. The ads state “customers that switch” but not “drivers who get quotes” save money. That’s why companies can truthfully advertise the way they do. This illustrates why you should compare as many rates as you can. It is impossible to predict which company will give you the biggest savings on Chevy Silverado 2500 insurance.

Coverages available on your insurance policy

Learning about specific coverages of your insurance policy can be of help when determining appropriate coverage for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Listed below are the usual coverages offered by insurance companies.

Coverage for medical expenses – Personal Injury Protection (PIP) and medical payments coverage kick in for expenses such as ambulance fees, X-ray expenses and dental work. They are often used in conjunction with a health insurance program or if there is no health insurance coverage. It covers all vehicle occupants as well as being hit by a car walking across the street. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Liability – This coverage will cover damages or injuries you inflict on other’s property or people in an accident. It protects YOU against claims from other people, and doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.

Liability coverage pays for things such as attorney fees, bail bonds, repair costs for stationary objects, repair bills for other people’s vehicles and medical expenses. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision coverage – This pays for damage to your Silverado 2500 caused by collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers things such as sideswiping another vehicle, sustaining damage from a pot hole and damaging your car on a curb. This coverage can be expensive, so you might think about dropping it from lower value vehicles. You can also bump up the deductible to get cheaper collision coverage.

Coverage for uninsured or underinsured drivers – This gives you protection when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Comprehensive insurance – This will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive can pay for claims such as damage from a tornado or hurricane, theft and damage from flooding. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Buy online or local, you save

When trying to cut insurance costs, make sure you don’t buy less coverage just to save a little money. Too many times, an insured dropped liability coverage limits and discovered at claim time they didn’t have enough coverage. Your aim should be to find the BEST coverage for the lowest price while still protecting your assets.

In this article, we presented a lot of techniques to get a better price on 2003 Chevy Silverado 2500 insurance. It’s most important to understand that the more quotes you get, the better your comparison will be. Drivers may discover the best prices are with a company that doesn’t do a lot of advertising. Smaller companies may cover specific market segments cheaper compared to the large companies like Allstate and Progressive.

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