Compare Chevy Silverado Insurance Rates in Toledo

If you’re trying to find cheaper insurance online, are you frustrated by the crazy number of car insurance sources in your area? Many other drivers are as well. Vehicle owners have so many sources available that it can quickly become a challenge to compare car insurance rates on Chevy Silverado insurance. Everyone knows Toledo is a wonderful place to live, but expensive car insurance premiums can make it very difficult to stay on budget.

Unthinkable but true, almost 70% of drivers in Ohio have bought car insurance from the same company for at least four years, and almost half have never compared car insurance rates at all. Drivers in America could pocket $860 a year by just comparing quotes, but they just don’t understand the rate savings if they switch to a new company.

It is always a good idea to do rate comparisons quite often due to the fact that insurance prices go up and down regularly. Just because you found the lowest rates on Chevy Silverado insurance in Toledo six months ago you may be paying too much now. Forget all the misinformation about car insurance because you’re going to get a crash course in the right way to find lower rates on car insurance.

When quoting auto insurance, remember that making a lot of price comparisons gives you a better chance of getting the best offered rates.

The following companies can provide comparison quotes in Ohio. If multiple companies are listed, it’s highly recommended you visit several of them to get the best price comparison.

Toledo insurance discounts for a Chevy Silverado

Companies that sell car insurance don’t always list every discount very well, so below is a list a few of the more well known and the more hidden credits available to lower your premiums when you buy Toledo car insurance online.

• Accident Forgiveness Coverage – This one isn’t a discount, but some insurance companies will forgive one accident without raising rates if you are claim-free for a set time period.
• Payment Method – By paying your entire bill at once as opposed to paying monthly you can avoid monthly service charges.
• Discount for Multiple Policies – If you insure your home and vehicles with one insurance company you will save at least 10% off all policies.
• Early Renewal Discounts – Some insurance companies provide a discount for switching to them before your current expiration date. This can save 10% or more.
• Military Discounts – Being on active duty in the military may lower your premium rates slightly.

Drivers should understand that most discount credits are not given to the overall cost of the policy. Most only reduce the cost of specific coverages such as medical payments or collision. Even though the math looks like you would end up receiving a 100% discount, companies don’t profit that way.

The chart below shows the comparison of Chevy Silverado insurance costs with and without some available policy discounts. Data assumes a female driver, no accidents, no driving violations, Ohio state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, homeowner, claim-free, multi-policy, and multi-car discounts applied.

Companies that may offer policyholders these discounts are:

• State Farm
• American Family
• GEICO
• 21st Century
• Progressive

When quoting, ask all the companies which discounts you qualify for. Discounts might not be available to policyholders in Toledo. If you would like to see a list of insurance companies with discount insurance rates in Toledo, click here.

Rates and statistics

The coverage table displayed next highlights estimates of insurance prices for Chevy Silverado models. Being more informed about how insurance premiums are formulated can help drivers make decisions on which coverage to buy.

Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Rates do not factor in your specific Toledo location which can change prices noticeably.

Full coverage or liability only

The illustration below illustrates the comparison of Chevy Silverado insurance premiums with full physical damage coverage and with liability coverage only. Data assumes no driving violations, no at-fault accidents, $250 deductibles, drivers are not married, and no other discounts are factored in.

Are you wasting money paying for full coverage?

There is no exact rule for dropping full coverage, but there is a general guideline. If the annual cost of having full coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your Chevy Silverado book value is $8,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $7,000 after you pay the deductible. If premiums are more than $700 annually for your policy with full coverage, then you might consider buying liability only.

There are some situations where only buying liability is not a good plan. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should not buy liability only.

Why Informed Consumers Pay Less for Chevy Silverado Insurance

Many different elements are taken into consideration when premium rates are determined. Some factors are common sense such as your driving record, although some other factors are more obscure such as your marital status and annual miles driven.

The factors shown below are just a few of the factors auto insurance companies consider when setting rates.

• Frequent policy claims will increase rates – Car insurance companies in Ohio give cheaper rates to policyholders who are claim-free. If you are a frequent claim filer, you can pretty much guarantee much higher rates or policy non-renewal. Insurance coverage is meant to be used in the event of more catastrophic claims.
• Only buy extra coverages you need – Insurance policies have a lot of extra bells and whistles that can waste your money when buying auto insurance. Add-on coverages like personal injury protection, towing, and extra equipment coverage are probably not needed. The coverages may be enticing when buying your policy, but if you’ve never needed them in the past eliminate the coverages to reduce your premium.

• High performance vehicles cost more to insure – The performance level of the car you need to insure makes a big difference in your premium level. The lowest base rates are generally reserved for economy passenger cars, but many other things help determine your insurance rates.

  The chart below uses these variables: single male driver age 20, full coverage with $500 deductibles, and no discounts or violations. It illustrates Chevrolet Silverado policy rates compared to other models that have a range of performances.

• Rural areas have lower premiums – Living in areas with lower population has it’s advantages when it comes to auto insurance. Lower population translates into fewer accident claims and a lower car theft rate. City drivers regularly have congested traffic and more severe claims. Longer commute distances can result in more accidents.
• Insure car and home with the same company – Most larger auto insurance companies provide lower prices to policyholders that have more than one policy in the form of a multi-policy discount. If you currently are using one company, consumers should still check prices from other companies to ensure the best deal.

• Responsible drivers pay better rates – A bad driving record impacts your car insurance rates tremendously. Having a single chargeable violation may increase your cost substantially. Attentive drivers pay less for auto insurance as compared to careless drivers. Drivers with serious tickets like reckless driving or DUI may be required to file a proof of financial responsibility form (SR-22) with their state’s licensing department in order to legally drive.

  The illustration below illustrates how traffic citations and fender-benders increase Chevy Silverado insurance costs for different age categories. The information is based on a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are factored in.

• Insurance loss statistics a Chevy Silverado – Auto insurance companies use statistical claims data to help determine prices. Vehicles that statistically have higher claim frequency or loss amount will cost more to insure.

  The table below outlines the loss history for Chevy Silverado vehicles. For each coverage type, the loss probability for all vehicles, regardless of make, model or trim level, is represented as 100. Numbers shown that are under 100 suggest a positive loss record, while numbers above 100 point to more frequent losses or statistically larger losses.

  
  

  Chevrolet Silverado Insurance Claim Statistics

  Specific Chevrolet Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Chevrolet Silverado 1500 2WD	76	118	85	78	69	125
  Chevrolet Silverado 1500 4WD	60	76	72	54
  Chevrolet Silverado 1500 Crew Cab 2WD	89	103	131	77	70	94
  Chevrolet Silverado 1500 Crew Cab 4WD	96	105	116	57	57	87
  Chevrolet Silverado 1500 Ext Cab 2WD	90	126	100	88	85	117
  Chevrolet Silverado 1500 Ext Cab 4WD	84	98	89	60	60	88
  Chevrolet Silverado 2500 2WD	60		65
  Chevrolet Silverado 2500 4WD	66	97	66
  Chevrolet Silverado 2500 Crew Cab 2WD	76	127	65
  Chevrolet Silverado 2500 Crew Cab 4WD	88	114	97	45	42	82
  Chevrolet Silverado 2500 Ext Cab 2WD	80		54
  Chevrolet Silverado 2500 Ext Cab 4WD	79	105	83	37	43	75
  Chevrolet Silverado 3500 4WD	65
  Chevrolet Silverado 3500 Crew Cab 4WD	98	127	108	54	39	76
  Chevrolet Silverado 3500 Ext Cab 4WD	129		127

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years