If you want to shop for insurance on a chevy silverado, shopping around is a good idea, as insurers have different rates when they insure the same car. The cheapest insurer could change based on your driver profile and model year, so comparing rates from different providers is likely to get you a better deal.
The insurance provider you choose can have a big impact on your chevy silverado insurance rates. The average cost to insure a Chevy Silverado is $1,237, but costs can vary by insurance company. For example, the cheapest auto insurance provider is Geico, averaging $1,070 a year, which is up to $452 a year difference compared to the most expensive provider.
Reading: How much is insurance for a chevy silverado
average annual cost of chevy silverado insurance by company
Using a sample driver profile, moneygeek collected rates from various insurance providers. in this case, the sample driver has 100/300/100 civil liability insurance with comprehensive and collision coverage.
average cost to insure a chevy silverado by company
Insurers use a variety of factors to determine the cost of car insurance. Higher insurance rates are typically associated with cars that are expensive, more likely to be stolen, or more likely to be involved in a crash or accident.
Chevy Silverados are generally inexpensive to insure, according to data analyzed by Moneygeek. The Chevy Silverado is a low value, low horsepower vehicle. low-value cars are cheaper to repair, while low-power cars are less likely to get into serious car accidents.
The combination of these factors is likely to reduce the risk faced by insurers and keep insurance costs low.
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Cost shouldn’t be the only factor to consider when shopping for insurance on a chevy silverado.
moneygeek developed a rating system based on affordability, financial stability, customer satisfaction, and customer complaints. the results showed that:
- the best auto insurance company to insure a chevy silverado is usaa, which is only available to current and former military and their families.
- for non-service customers, a good choice is the second best insurance company for a chevy silverado, geico.
Older cars may be cheaper to insure. their value depreciates over time, making comprehensive and collision coverage less expensive.
The average cost of insurance is $1053 for a 2005 chevy silverado, while a 2018 chevy silverado costs an average of $1332 per year. that’s a difference of $280.
Depending on the model year, different carriers may offer cheaper rates. For example, the cheapest insurance company for a 2020 Chevy Silverado is Geico, with an average annual cost of $1,070.
Scroll down to your model year to compare rates from different carriers, as the cheapest option may change by year.
average cost to insure a chevy silverado by model year
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When it comes to insurance rates, driving a chevy silverado is relatively inexpensive. It costs an average of $1,237 per year to insure a Chevy Silverado, which is $190 less than the average cost for all other models.
Younger drivers often pay much more for car insurance, regardless of the car they drive, due to their inexperience on the road. their inexperience means they are riskier to insure.
The average cost of insuring a chevy silverado for an 18 year old driver is a whopping $4038 per year. the average cost for a 40-year-old driver is $1,237.
It’s a good idea for young drivers to stay on their parent’s policy, as this usually costs less than getting their own auto insurance.
You can find the cost of car insurance for young drivers ages 16-25 below.
average cost to insure a chevy silverado by age of driver
Although the costs discussed here are based on a national average, where you live can significantly affect your auto insurance rates. To learn more about the cost of car insurance in individual states, take a look at our state page analysis.
The model of your car can have an impact on the cost of auto insurance, but it’s just one of several factors that insurers consider when calculating rates. Here are some frequently asked questions about insuring a Chevy Silverado.
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