Finding affordable coverage for a Chevy Silverado is pretty straightforward, but it relies on a whole bunch of factors such as the safety rating for your Silverado, the likelihood of your vehicle being stolen, and your choice of physical damage deductibles. Drivers in Tennessee pay around $924 annually to insure their Silverado, but that price is an estimation calculated based on a 30-year-old single male driver with full coverage and $1,000 deductibles.
The issue with using an average estimated rate is the likelihood you’re not a 30-year-old male, you might be married instead of single, or maybe you don’t qualify for the same discounts. Even a slight change in the factors used in pricing a policy may result in a big change in the coverage rate.
This illustrates why the best method for finding the most affordable coverage for your Chevrolet is to compare as many rates as possible. Get a free quote now and you can get rates from some of the cheapest companies that insure Chevrolet vehicles in Tennessee.
The trim level of your Silverado tends to impact price, so the rate you pay to insure a Silverado LS Regular Cab 2WD model will be $120 cheaper than the price to insure the higher-end Silverado Crew Cab Hybrid 4WD trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$136||$194||$428||$26||$128||$912||$76|
|Silverado LS Regular Cab 4WD||$136||$194||$378||$22||$114||$844||$70|
|Silverado LT Regular Cab 2WD||$158||$236||$428||$26||$128||$976||$81|
|Silverado LT Regular Cab||$158||$236||$428||$26||$128||$976||$81|
|Silverado LS Extended Cab 4WD||$158||$236||$378||$22||$114||$908||$76|
|Silverado LT Extended Cab 4WD||$158||$236||$378||$22||$114||$908||$76|
|Silverado LT Extended Cab 2WD||$158||$236||$428||$26||$128||$976||$81|
|Silverado LS Extended Cab 2WD||$158||$236||$428||$26||$128||$976||$81|
|Silverado LT Crew Cab 4WD||$178||$278||$378||$22||$114||$970||$81|
|Silverado LS Crew Cab 2WD||$178||$278||$428||$26||$128||$1,038||$87|
|Silverado LS Crew Cab 4WD||$178||$278||$378||$22||$114||$970||$81|
|Silverado LT Crew Cab 2WD||$178||$278||$428||$26||$128||$1,038||$87|
|Silverado LTZ Extended Cab 2WD||$178||$278||$428||$26||$128||$1,038||$87|
|Silverado LTZ Extended Cab 4WD||$178||$278||$378||$22||$114||$970||$81|
|Silverado LTZ Crew Cab 2WD||$178||$278||$428||$26||$128||$1,038||$87|
|Silverado LTZ Crew Cab 4WD||$178||$278||$378||$22||$114||$970||$81|
|Silverado Crew Cab Hybrid 2WD||$178||$320||$378||$22||$114||$1,012||$84|
|Silverado Crew Cab Hybrid 4WD||$198||$320||$378||$22||$114||$1,032||$86|
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Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Table data does not factor in specific location information which can increase or decrease prices substantially.
Determining which company offers the most affordable car insurance rates for a Chevy Silverado involves a bit more effort in order to find coverage that fits your budget. Every insurance provider has their own unique process to set premium rates, so let’s take a look at the lowest cost car insurance companies in Nashville, TN.
It’s important to know that Tennessee car insurance rates are impacted by many things that can increase the price you pay. Simply having another birthday, getting divorced, or having a fender bender can produce rate changes resulting in some rates now being more affordable than before.
Cheap Insurance Rates for Your Silverado Truck
Utica National may offer some of the best car insurance rates in Nashville at around $744 a year. This is $584 less than the average policy premium paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Penn National, and USAA also rank well as some of the most economical Nashville, TN insurance companies.
In the rate table above, if you buy coverage from Penn National and switched to Auto-Owners, you may see annual savings of roughly $72. Tennessee drivers with USAA may save as much as $83 a year, and Tennessee Farmers policyholders might lower prices by up to $115 a year.
Bear in mind that those policy prices are averages across all drivers and vehicles in Tennessee and do not take into consideration an exact vehicle garaging location for a Chevy Silverado. So the company that has the cheapest price for you may not even be in the top 30 companies in the list above. That emphasizes why you need to get quotes using your own driver data and vehicle information.
Types of discounts on Nashville insurance
Car insurance companies that provide policies for a Chevy Silverado may provide price discounts that could potentially reduce rates by as much as 35% or more if you can meet the requirements. The best car insurance companies and a selection of discounts can be read below.
- GEICO offers discounts for defensive driver, air bags, federal employee, daytime running lights, and anti-theft.
- Mercury Insurance may offer discounts for good driver, ease of repair, accident-free, age of vehicle, multi-car, and professional/association.
- Farmers Insurance has discounts for youthful driver, good student, alternative fuel, switch companies, bundle discounts, and multi-car.
- Auto-Owners Insurance policyholders can earn discounts including air bags, teen driver, group or association, good student, company car, multi-policy, and paperless.
- Liberty Mutual may have discounts that include safety features, teen driver discount, preferred payment discount, newly retired, multi-car, and exclusive group savings.
- SAFECO includes discounts for teen safe driver, drive less, teen safety rewards, anti-lock brakes, homeowner, and safe driver.
- Progressive may include discounts for good student, online quote discount, continuous coverage, homeowner, multi-policy, and multi-vehicle.
- USAA offers discounts including annual mileage, multi-policy, family discount, safe driver, and vehicle storage.
The information below illustrates the comparison of yearly insurance costs with and without discounts applied to the premium. The data assumes a male driver, no claims or violations, Tennessee state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows premium with no discounts. The second bar shows the rates with defensive driving course, accident-free, multiple policy, multiple vehicle, safe-driver, and marriage discounts applied. When these discounts are applied to the policy premium, the average savings per year on car insurance for a Chevy Silverado is 28% or $400.
The diagram below illustrates how your choice of deductibles can influence insurance prices when trying to find cheap insurance for a Chevy Silverado. The premium estimates are based on a single male driver, full physical damage coverage, and no discounts are applied to the premium.
As shown above, a 30-year-old driver could lower their car insurance rates by $414 a year by switching from a $100 deductible to a $500 deductible, or save $622 by choosing a $1,000 deductible. Young drivers, like the 20-year-old example, could potentially save as much as $1,228 annually by selecting a higher deductible. When raising deductibles, it is a good idea to have plenty of discretionary funds to enable you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
How to find the cheapest car insurance for a Chevy Silverado
It’s not impossible to find cheaper rates, and here are some of the better penny-pinching suggestions that can help you get lower-cost auto insurance.
- Buy a car with high safety ratings
- Do not file small claims
- Tickets and violations raise rates
- Buy your auto and home insurance from the same company and save
- At-fault accidents will increase rates
- Ensure you have the best deal by shopping around regularly
The final tip is incredibly important, as we stressed in this piece. Prices charged by companies in Nashville can change considerably based on profitability, so don’t be unwilling to buy from a new company if a more affordable rate is found. Being loyal to a particular company is commendable, but is isn’t recommended if that devotion results in you overpaying major coinage every year. In less than five minutes you could compare prices to find cheaper car insurance for a Chevy Silverado.