Buying cheaper insurance for a Chevy Silverado doesn’t take too much effort, but it hinges on a lot of different factors such as how old the vehicle is, the performance level of your vehicle, and the deductible amount you use. Michigan drivers pay on average $3,018 per year for Silverado insurance, but that figure is a valuation calculated based on a 40-year-old single male driver with full physical damage coverage and $100 deductibles.
There’s a high likelihood you’re not a 40-year-old male, maybe you are married instead of single, or maybe you prefer liability limits higher than required by Michigan state law. Even a slight difference in the criteria used to calculate rates can result in a large change in how much coverage for a Chevy Silverado costs.
Auto insurance is not the same for everyone, so the best method for finding cheap insurance prices for your Chevrolet is to compare as many rates as you can.
The trim level of your vehicle will most likely have an effect on the coverage cost, so the price you pay to insure a Silverado LS Regular Cab 2WD will be $738 cheaper than the cost to insure the higher-priced Silverado Crew Cab Hybrid 4WD model, as demonstrated by the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$508||$1014||$944||$56||$282||$2,804||$234|
|Silverado LS Regular Cab 4WD||$508||$1014||$836||$50||$250||$2,658||$222|
|Silverado LT Regular Cab 2WD||$582||$1234||$944||$56||$282||$3,098||$258|
|Silverado LT Regular Cab||$582||$1234||$944||$56||$282||$3,098||$258|
|Silverado LS Extended Cab 4WD||$582||$1234||$836||$50||$250||$2,952||$246|
|Silverado LT Extended Cab 4WD||$582||$1234||$836||$50||$250||$2,952||$246|
|Silverado LT Extended Cab 2WD||$582||$1234||$944||$56||$282||$3,098||$258|
|Silverado LS Extended Cab 2WD||$582||$1234||$944||$56||$282||$3,098||$258|
|Silverado LT Crew Cab 4WD||$658||$1454||$836||$50||$250||$3,248||$271|
|Silverado LS Crew Cab 2WD||$658||$1454||$944||$56||$282||$3,394||$283|
|Silverado LS Crew Cab 4WD||$658||$1454||$836||$50||$250||$3,248||$271|
|Silverado LT Crew Cab 2WD||$658||$1454||$944||$56||$282||$3,394||$283|
|Silverado LTZ Extended Cab 2WD||$658||$1454||$944||$56||$282||$3,394||$283|
|Silverado LTZ Extended Cab 4WD||$658||$1454||$836||$50||$250||$3,248||$271|
|Silverado LTZ Crew Cab 2WD||$658||$1454||$944||$56||$282||$3,394||$283|
|Silverado LTZ Crew Cab 4WD||$658||$1454||$836||$50||$250||$3,248||$271|
|Silverado Crew Cab Hybrid 2WD||$658||$1674||$836||$50||$250||$3,468||$289|
|Silverado Crew Cab Hybrid 4WD||$732||$1674||$836||$50||$250||$3,542||$295|
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Michigan minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Price estimates do not factor in specific Detroit garaging location which can change prices noticeably.
Finding dependable, cheap auto insurance is not the easiest thing to accomplish, and figuring out which company offers the lowest-priced car insurance rates for a Chevy Silverado involves even more rate comparisons. Every insurance provider has a unique formula to establish rates, so let’s rank the car insurance companies with the overall cheapest rates in Michigan.
It’s a good idea to be aware that Detroit, MI car insurance rates are impacted by many factors that can increase the price you have to pay for coverage. This price fluctuation is why consumers need to take the time to perform an extensive rate comparison to get the most budget-friendly car insurance rates for a Chevy Silverado. Rates can be altered by many things and can increase or decrease at any time, so the cheapest company two years ago may now be wasting a lot of money.
Best Insurance Companies for Your Silverado Truck
USAA has some of the best car insurance rates in Detroit at around $978 per year. This is $1,415 less than the average price paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and Chubb also make the cut as some of the cheaper Detroit, MI insurance companies.
In the above rates, if you currently buy coverage from MetLife and switched to GEICO, you might realize a yearly savings of in the vicinity of $371. Insureds with Chubb may save as much as $393 a year, and Pioneer State Mutual insureds might realize rate reductions of up to $437 a year.
To see how much you can save, click here to start your custom quote or click several companies below for low rates.
Bear in mind that those policy prices are averaged across all drivers and vehicles and do not factor in an exact location for a Chevy Silverado. So the car insurance company that is best for you may not even be in the top 30 companies in the list above. That is why you need to get rate quotes from many companies using your own specific driver information and vehicle.
Get discount Detroit insurance
Insurance companies that offer coverage for a Chevy Silverado may also provide premium discounts that could reduce prices by as much as 40% or more if you meet the requirements. A few of the larger companies and a selection of discounts can be read below.
- 21st Century has savings for teen driver, automatic seat belts, driver training, defensive driver, air bags, and homeowners.
- Progressive offers discounts for continuous coverage, homeowner, online signing, multi-vehicle, and online quote discount.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, multiple autos, good student, anti-theft, student away at school, and Drive Safe & Save.
- Nationwide has discounts for good student, family plan, anti-theft, defensive driving, and accident-free.
- Esurance discounts include online shopper, good student, anti-lock brakes, Pac-12 alumni, and defensive driver.
- The Hartford offers premium reductions for air bag, driver training, vehicle fuel type, defensive driver, and good student.
The diagram below shows the comparison of annual premium costs with and without discounts applied. The premiums assume a male driver, a clean driving record, no claims, Michigan state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, accident-free, defensive driving course, passive restraint, multiple vehicle, and multiple policy discounts applied. When taking advantage of discounts, theaverage amount saved on car insurance for a Chevy Silverado is 28% or $1,076.
Accidents and violations increase rates
The best way to enjoy cheap car insurance rates for a Silverado pickup is to drive safely and have a clean driving record. The information below highlights how speeding tickets and accident claims can drive up auto insurance rates for each different age group. The data assumes a married male driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.
The chart shows that the average cost of car insurance per year with a clean driving record and no accidents is $2,683. Receive two speeding tickets and the average cost surges to $3,681, an increase of $999 each year. Now add one accident along with the two speeding tickets and the 12-month cost of car insurance for a Chevy Silverado increases to an average of $4,702. That’s an increase of $2,020, or $168 per month, just for not maintaining a clean driving record!
The benefit of shopping around
Detroit, MI car insurance rates are impacted by many things which can significantly increase or decrease the price of coverage. Simply having a birthday, filing a claim, or getting a speeding ticket can cause premium changes that can make some companies much cheaper than others. And not only may your rating factors change, but auto insurance companies change prices every year or even multiple times each year to adjust for heavy claims or excess profits. Larger than normal claims can result in more expensive premiums, while a better loss history can result in more affordable Silverado insurance rates.
To illustrate this point, the chart below shows the cheapest car insurance in Detroit, MI for a 40-year-old female driver with no violations or accidents, and a good credit history. If we estimate rates based on her current risk factors, USAA quotes the cheapest car insurance rates in Detroit at $2,325 annually. This is $68 less than the average premium paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and MEEMIC are the remaining most affordable Detroit, MI auto insurance companies.
The next chart shows rates after we give the driver from the first rate comparison a chargeable claim, less-than-perfect credit, and a couple of points charged on her driving record. Due to the fact that each insurance company has their own unique process for determining prices, analyzing rate quotes may now present a new list of the cheapest companies as shown below.
Safeco now has the cheapest car insurance in Detroit with GEICO, Pioneer State Mutual, USAA, and Hastings Mutual now being in the top five. This example shows why it is crucial to take the time to shop around to get the most economical insurance quotes for a Chevy Silverado. Insurance prices are made up of many risk factors and can decrease or increase without notice, so the most affordable company the last time you checked may now be quite expensive.
How to find budget-friendly car insurance for a Chevy Silverado
The list below details many money-saving suggestions that can help you get low-cost coverage.
- Increase your deductibles
- At-fault accidents can raise rates significantly
- Violations like speeding or DUI increase rates
- Good credit scores may make rates cheaper
- Buy safe vehicles
- Compare rates regularly to ensure the best deal
That final tip is extraordinarily crucial, as was discussed in the prior information. Auto insurance prices in Detroit can be modified anytime, so you should be ready to buy from a different company if a lower-cost policy is available. Being loyal to a particular company is commendable, but it’s not recommended if that stubbornness costs you hundreds every year. Take a couple minutes and compare rates and find cheaper auto insurance for a Chevy Silverado.
If you aren’t sure which coverage to buy and prefer to get help from a professional when trying to find the best insurance rates for a Chevy Silverado, the insurance agencies below can most likely help you decide which insurance coverage you need.
To find a Detroit insurance agent nearest to you, click the button below the list or click here to compare rates now.
11324 W Jefferson Ave # 1 – River Rouge, MI 48218 – (888) 566-5467
L A Insurance
6248 Michigan Ave – Detroit, MI 48210 – (313) 896-1000
C B Irwin Insurance
2357 W Grand Blvd – Detroit, MI 48208 – (313) 894-2144
John Cash – State Farm Insurance Agent
19203 Grand River Ave – Detroit, MI 48223 – (313) 537-1200
2922 W Grand Blvd – Detroit, MI 48202 – (313) 871-0100