Buying the cheapest auto insurance for a Chevy Silverado in Indiana relies on a lot of different factors such as how long your commute is, whether you are claim-free, and driving violations and tickets. Indiana drivers pay around $1,117 per year for Silverado insurance, but that amount is an estimation calculated using a 40-year-old single male driver with both comprehensive and collision coverage and $250 deductibles.
But there is a high probability that you aren't exactly 40 years old or even a male, you might be married instead of single, or maybe you're a renter instead of a homeowner. Just a very minor change in policy rating criteria or coverages could end up with a large change in rates.
Auto insurance requires individual risk assessment, so the best method for finding cheap insurance rates for your Chevrolet is to compare rates from as many companies as possible. Quotes only take a couple of minutes and you will receive price comparisons from top-rated companies around.
Your vehicle's trim level impacts the yearly cost, so the cost to insure a Silverado LS Regular Cab 2WD trim level will be $248 less than the cost to insure the fancier Silverado Crew Cab Hybrid 4WD model, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$186||$346||$384||$22||$114||$1,052||$88|
|Silverado LS Regular Cab 4WD||$186||$346||$340||$20||$102||$994||$83|
|Silverado LT Regular Cab 2WD||$212||$420||$384||$22||$114||$1,152||$96|
|Silverado LT Regular Cab||$212||$420||$384||$22||$114||$1,152||$96|
|Silverado LS Extended Cab 4WD||$212||$420||$340||$20||$102||$1,094||$91|
|Silverado LT Extended Cab 4WD||$212||$420||$340||$20||$102||$1,094||$91|
|Silverado LT Extended Cab 2WD||$212||$420||$384||$22||$114||$1,152||$96|
|Silverado LS Extended Cab 2WD||$212||$420||$384||$22||$114||$1,152||$96|
|Silverado LT Crew Cab 4WD||$240||$496||$340||$20||$102||$1,198||$100|
|Silverado LS Crew Cab 2WD||$240||$496||$384||$22||$114||$1,256||$105|
|Silverado LS Crew Cab 4WD||$240||$496||$340||$20||$102||$1,198||$100|
|Silverado LT Crew Cab 2WD||$240||$496||$384||$22||$114||$1,256||$105|
|Silverado LTZ Extended Cab 2WD||$240||$496||$384||$22||$114||$1,256||$105|
|Silverado LTZ Extended Cab 4WD||$240||$496||$340||$20||$102||$1,198||$100|
|Silverado LTZ Crew Cab 2WD||$240||$496||$384||$22||$114||$1,256||$105|
|Silverado LTZ Crew Cab 4WD||$240||$496||$340||$20||$102||$1,198||$100|
|Silverado Crew Cab Hybrid 2WD||$240||$570||$340||$20||$102||$1,272||$106|
|Silverado Crew Cab Hybrid 4WD||$268||$570||$340||$20||$102||$1,300||$108|
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Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Rate quotes do not factor in specific garaging location which can raise or lower premiums greatly.
Picking the highest-rated insurance company can be difficult considering how many choices you have in Indiana. The rank data shown next may help you select which car insurance companies you want to consider when shopping around. These rankings include companies with a nationwide focus, so companies that focus mainly on Indiana business are not included in these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Difference between full coverage and liability only rates
Paying less for auto insurance is probably important to the majority of vehicle owners, and a good way to save on the cost of insurance for a Chevy Silverado in Indiana is to not buy comprehensive and collision coverage. The example below illustrates the comparison of insurance rates with full physical damage coverage compared to only buying liability only. Data assumes no claims, a clean driving record, $1,000 deductibles, single status, and no discounts are applied to the premium.
On average, full coverage on your policy costs $1,598 per year over having just liability coverage. Many drivers will wonder if paying for full coverage is a waste of money. There is no set rule for excluding full coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is more than 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
Compare rates to save
Indiana auto insurance rates are based on many factors that may substantially change the cost of a policy. Improving your credit score, buying a home, or getting a DUI can trigger rate changes that may make certain companies more affordable than others. Also, insurers change premium rates as often as every three months to adjust for heavy claims or excess profits. Unexpectedly high claims may result in more expensive prices, while less frequent claims can result in cheaper Silverado insurance rates.
The data below shows which companies have the cheapest car insurance in Indiana for a 35-year-old male driver with a clean driving record, no accidents, and good financial standing. When quoting prices based on his current rating profile, Travelers might quote the lowest car insurance rates in Indiana at $596 each year. This is $644 less than the average rate paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Indiana Farmers Mutual are also included in the top five cheapest Indiana auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates a chargeable accident, a lower credit rating, and a traffic ticket or two. Due to the fact that each insurance company has their own process to determine rates, comparing rates may result in a new list of companies as shown below.
The Hartford now has the best insurance rate in Indiana with Auto-Owners, USAA, Cincinnati Insurance, and Motorists Mutual also having competitive pricing. This illustrates why it is crucial to compare many different companies to get the most affordable insurance rates for a Chevy Silverado.
Insurance rates are influenced by many things and can decrease or increase without notice, so the lowest-price company the last time you shopped around may now be costing you a lot of money.
How to find low-cost auto insurance for a Chevy Silverado in Indiana
Below you'll find a few thrifty suggestions that can help you buy lower-cost car insurance.
- Remain accident-free and save
- Violations like speeding or DUI increase rates
- Remove physical damage coverage on older vehicles
- Do not file small claims
- Raise your physical damage coverage deductibles
- Shop around for cheaper prices
That last tip is extremely valuable, as was emphasized in the article above. Prices charged by auto insurers change constantly, so drivers shouldn't hesitate to change insurance companies if you can find a cheaper rate.
Being loyal to a particular company is commendable, but is isn't recommended if that dedication is costing lots of money. If you have a few minutes, compare rates and find cheaper auto insurance for a Chevy Silverado.