Do you want the cheapest Chevy Silverado insurance in Detroit? No one likes paying for auto insurance, especially when they are aware that they could lower their rates if they shopped around.
Unbelievable but true according to a study nearly 70% of customers have purchased from the same company for at least four years, and just short of a majority have never compared rate quotes at all. Most drivers in Detroit could save roughly $3,840 each year, but they underestimate the big savings they would realize if they bought a different policy. Because you have many companies to choose from that have lower-cost insurance for a Chevy Silverado in Detroit, it’s difficult to locate the right company.
Locating the lowest-priced auto insurance policy in Detroit is not as difficult as people think. If you already have coverage or just want cheaper rates, you can learn to find better prices and possibly find even better coverage. Shoppers just have to learn the most time-saving way to compare price quotes from many different companies.
Shop Chevy Silverado insurance online
The car insurance companies shown below are ready to provide price comparisons in Detroit, MI. If you want to find the cheapest auto insurance in MI, it’s highly recommended you get prices from several of them in order to get a fair rate comparison.
Protect your Silverado and other assets
Despite the potentially high cost of Chevy Silverado insurance, paying for insurance is not optional due to several reasons.
- The majority of states have mandatory insurance requirements which means it is punishable by state law to not carry specific limits of liability insurance in order to get the vehicle licensed. In Michigan these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your Chevy Silverado with a loan, most lenders will make it mandatory that you have physical damage coverage to guarantee their interest in the vehicle. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Chevy for a lot more money and require you to fork over for the much more expensive policy.
- Insurance protects both your car and your assets. It will also pay for medical expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, will also pay attorney fees if someone files suit against you as the result of an accident. If your Chevy gets damaged, your policy will cover the damage repairs after a deductible is paid.
The benefits of carrying adequate insurance more than offset the price you pay, especially for larger claims. Today the average American driver is overpaying over $865 each year so compare rate quotes every year to ensure rates are competitive.
Chevy Silverado insurance coverage information
The table shown next showcases a range of insurance coverage prices for Chevy Silverado models. Learning a little about how insurance policy rates are formulated can help guide drivers when making informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$590||$882||$1022||$60||$306||$2,860||$238|
|Silverado LS Regular Cab 4WD||$590||$882||$904||$54||$270||$2,700||$225|
|Silverado LT Regular Cab 2WD||$678||$1074||$1022||$60||$306||$3,140||$262|
|Silverado LT Regular Cab||$678||$1074||$1022||$60||$306||$3,140||$262|
|Silverado LS Extended Cab 4WD||$678||$1074||$904||$54||$270||$2,980||$248|
|Silverado LT Extended Cab 4WD||$678||$1074||$904||$54||$270||$2,980||$248|
|Silverado LT Extended Cab 2WD||$678||$1074||$1022||$60||$306||$3,140||$262|
|Silverado LS Extended Cab 2WD||$678||$1074||$1022||$60||$306||$3,140||$262|
|Silverado LT Crew Cab 4WD||$764||$1264||$904||$54||$270||$3,256||$271|
|Silverado LS Crew Cab 2WD||$764||$1264||$1022||$60||$306||$3,416||$285|
|Silverado LS Crew Cab 4WD||$764||$1264||$904||$54||$270||$3,256||$271|
|Silverado LT Crew Cab 2WD||$764||$1264||$1022||$60||$306||$3,416||$285|
|Silverado LTZ Extended Cab 2WD||$764||$1264||$1022||$60||$306||$3,416||$285|
|Silverado LTZ Extended Cab 4WD||$764||$1264||$904||$54||$270||$3,256||$271|
|Silverado LTZ Crew Cab 2WD||$764||$1264||$1022||$60||$306||$3,416||$285|
|Silverado LTZ Crew Cab 4WD||$764||$1264||$904||$54||$270||$3,256||$271|
|Silverado Crew Cab Hybrid 2WD||$764||$1456||$904||$54||$270||$3,448||$287|
|Silverado Crew Cab Hybrid 4WD||$852||$1456||$904||$54||$270||$3,536||$295|
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Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Prices do not factor in specific Detroit garaging location which can influence premiums greatly.
Yearly car insurance costs for men versus women
The example below illustrates the comparison of Chevy Silverado insurance prices for male and female drivers. The premium estimates are based on no tickets, no at-fault accidents, comp and collision included, $250 deductibles, drivers are not married, and no policy discounts are applied.
Should you buy full coverage?
The chart below shows the difference between Chevy Silverado premium costs when comparing full coverage to state minimum liability only. The rates are based on no driving violations, no at-fault accidents, $100 deductibles, drivers are not married, and no other discounts are factored in.
Should you be buying full coverage?
There is no exact rule for dropping physical damage insurance, but there is a general convention. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s assume your Chevy Silverado book value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $2,000 after paying the physical damage deductible. If premium cost is more than $200 annually for full coverage, the it may be a good time to stop paying for full coverage.
There are a few cases where buying only liability insurance is not a good plan. If you haven’t paid off your loan, you have to carry full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Discounts for cheap insurance quotes
Some insurance providers don’t necessarily list the complete list of policy discounts in an easy-to-find place, so the following is a list of some of the best known and also the lesser-known credits available to lower your premiums when you buy Detroit car insurance online.
- Drivers Ed for Students – Cut your cost by having your teen driver complete a driver education course as it can save substantially.
- One Accident Forgiven – This one isn’t a discount, but companies like GEICO and Liberty Mutual will turn a blind eye to one accident before raising your premiums as long as you don’t have any claims for a specific time period.
- Own a Home and Save – Simply owning a home can save you money because maintaining a house means you have a higher level of financial diligence.
- Safe Driver Discounts – Drivers who don’t get into accidents can save up to 40% or more on their Detroit car insurance quote than less cautious drivers.
- College Student – Children living away from Detroit attending college and do not take a car to college can be insured at a reduced rate.
One thing to note about discounts is that most of the big mark downs will not be given to the entire cost. Most only apply to specific coverage prices like liability and collision coverage. If you do the math and it seems like all the discounts add up to a free policy, you aren’t that lucky.
The example below shows the comparison of Chevy Silverado auto insurance costs with and without discounts applied to the premium. The data is based on a female driver, no claims or violations, Michigan state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, homeowner, marriage, claim-free, and multi-car discounts applied.
A few popular companies and their possible discounts can be found below.
- American Family may have discounts that include TimeAway discount, Steer into Savings, early bird, defensive driver, accident-free, and bundled insurance.
- Nationwide has savings for accident-free, easy pay, good student, family plan, multi-policy, defensive driving, and business or organization.
- MetLife offers discounts for good student, good driver, multi-policy, accident-free, and defensive driver.
- 21st Century offers premium reductions for homeowners, theft prevention, automatic seat belts, 55 and older, defensive driver, teen driver, and air bags.
- Farmers Insurance includes discounts for distant student, bundle discounts, electronic funds transfer, youthful driver, multi-car, early shopping, and mature driver.
- Allstate offers discounts including good student, early signing, anti-lock brakes, senior citizen, multi-policy, and new car.
Check with each insurance company to apply every possible discount. A few discounts may not be offered in Detroit. To see a list of providers who offer discounts in Detroit, click this link.
Will just any policy work for me?
When it comes to buying your policy, there isn’t really a one size fits all plan. Your situation is unique and a cookie cutter policy won’t apply.
These are some specific questions may help you determine whether or not you will benefit from professional help.
- Exactly who is provided coverage by my policy?
- Should I file a claim if it’s only slightly more than my deductible?
- Can I rate high risk drivers on liability-only vehicles?
- Do I need medical payments coverage since I have good health insurance?
- Are rock-chip repairs free?
- What is an adequate liability insurance limit?
- Is my babysitter covered when using my vehicle?
- Do I need replacement cost coverage?
If it’s difficult to answer those questions but you know they apply to you then you might want to talk to a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and may give you better protection.