Who Has Cheap Insurance for a Chevrolet Silverado in Virginia?

Who Has Cheap Insurance for a Chevrolet Silverado in Virginia?

The chances that you’ll find affordable insurance for a Chevy Silverado in Virginia relies on a fairly complex equation with a lot of factors like if you own the home you live in, if you have a lapse in coverage, and your choice of deductibles. Drivers pay an average of $680 per year for Silverado insurance, but that amount is a valuation using cost data for a 40-year-old married male driver with both comprehensive and collision coverage and $1,000 physical damage deductibles.

It’s more than likely you aren’t exactly 40 years old or even a male, possibly single instead of married, or maybe you just want to insure for liability only. Just a minor difference in rating variables can precipitate large changes in the cost of a policy.

Car insurance coverage is unique to each driver, so this is why the only way to find the most affordable coverage for your Chevrolet is to get into the habit of comparing rates once a year. Quotes only take a couple of minutes and you can get prices from some of the cheapest companies that offer coverage in Virginia.

Cheapest Chevrolet Silverado Insurance Rates

The specific trim level will influence price, so the rate you will pay to insure a Silverado LS Regular Cab 2WD will cost $100 less than the insurance cost for the more expensive Silverado Crew Cab Hybrid 4WD model, as shown in the table below.

Chevrolet Silverado Insurance Rates in Virginia
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Silverado LS Regular Cab 2WD $98 $160 $300 $18 $90 $666 $56
Silverado LS Regular Cab 4WD $98 $160 $266 $16 $80 $620 $52
Silverado LT Regular Cab 2WD $112 $194 $300 $18 $90 $714 $60
Silverado LT Regular Cab $112 $194 $300 $18 $90 $714 $60
Silverado LS Extended Cab 4WD $112 $194 $266 $16 $80 $668 $56
Silverado LT Extended Cab 4WD $112 $194 $266 $16 $80 $668 $56
Silverado LT Extended Cab 2WD $112 $194 $300 $18 $90 $714 $60
Silverado LS Extended Cab 2WD $112 $194 $300 $18 $90 $714 $60
Silverado LT Crew Cab 4WD $126 $228 $266 $16 $80 $716 $60
Silverado LS Crew Cab 2WD $126 $228 $300 $18 $90 $762 $64
Silverado LS Crew Cab 4WD $126 $228 $266 $16 $80 $716 $60
Silverado LT Crew Cab 2WD $126 $228 $300 $18 $90 $762 $64
Silverado LTZ Extended Cab 2WD $126 $228 $300 $18 $90 $762 $64
Silverado LTZ Extended Cab 4WD $126 $228 $266 $16 $80 $716 $60
Silverado LTZ Crew Cab 2WD $126 $228 $300 $18 $90 $762 $64
Silverado LTZ Crew Cab 4WD $126 $228 $266 $16 $80 $716 $60
Silverado Crew Cab Hybrid 2WD $126 $264 $266 $16 $80 $752 $63
Silverado Crew Cab Hybrid 4WD $140 $264 $266 $16 $80 $766 $64
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Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Premium amounts do not factor in Virginia location which can change auto insurance rates greatly.

Trying to buy cost effective auto insurance is confusing at best, and finding out which insurers offer the cheapest auto insurance rates for a Chevy Silverado calls for a little more work. Every insurance company uses their own calculation to set their prices, so let’s rank the auto insurance companies with the overall best prices in Virginia.

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Rankings for the cheapest car insurance companies in Virginia
Rank Company Cost Per Year
1 Travelers $673
2 USAA $716
3 Penn National $718
4 Utica National $758
5 Cincinnati Insurance $763
6 The Hartford $777
7 Erie $780
8 Auto-Owners $788
9 Virginia Farm Bureau $834
10 Donegal Mutual $852
11 Nationwide $935
12 Allied $992
13 ALFA $1,018
14 GEICO $1,026
15 National Grange Mutual $1,060
16 State Farm $1,143
17 Chubb $1,145
18 Progressive $1,209
19 Electric $1,216
20 California Casualty $1,251
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Travelers has some of the best car insurance rates in Virginia at around $673 each year. USAA, Penn National, Utica National, and Cincinnati Insurance also are some of the more affordable Virginia car insurance companies.

As shown in the rates above, if you currently have coverage with Cincinnati Insurance and switched to USAA, you could see yearly savings of in the neighborhood of $47. Customers with The Hartford might save as much as $61 a year, and Erie insureds might cut rates by $64 a year.

If you want to see how much you could save, click here or visit any of the low-priced companies below.

Understand that those estimates are averages across all drivers and vehicles and and are not calculated with a specific rating modification for a Chevy Silverado. So the car insurance company that can offer the best rates for your situation may not even be shown in the list above. That emphasizes why you need to compare prices as often as possible using your own specific driver information and vehicle.

Violations and accidents raise rates

The ideal way to enjoy the most affordable auto insurance premiums in Virginia for a Silverado pickup is to drive cautiously and avoid tickets and accidents. The illustration below illustrates how speeding tickets and at-fault fender-benders impact insurance costs for each different age group. The premiums assume a single male driver, full coverage, $250 deductibles, and no other discounts are factored in.

In the previous chart, the average cost of car insurance in Virginia per year with no violations or accidents is $1,559. Factor in two speeding tickets and the average cost jumps to $2,057, an increase of $497 each year. Then add in one accident along with the two speeding tickets and the annual cost of auto insurance for a Chevy Silverado increases to an average of $2,558. That’s an increase of $998, or $83 per month, just for not being more responsible behind the wheel!

The diagram below demonstrates how deductible levels can increase or decrease insurance prices when searching for cheap insurance for a Chevy Silverado. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

The chart above illustrates that a 40-year-old driver could lower their car insurance rates by $212 a year by changing from a $100 deductible up to a $500 deductible, or save $318 by changing to a $1,000 deductible. Young drivers, like the age 20 example, can save $522 or even more by choosing a larger deductible amount. If you make the decision to raise deductibles, it is essential to have additional savings on hand to be able to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

How to find economical auto insurance for a Chevy Silverado

Below you’ll find some thrifty ideas that can help you locate cheap coverage.

  • Avoid accidents and claims
  • Clean up your credit rating
  • Do not insure for full coverage
  • Buy a safer vehicle
  • Buy your auto and home insurance from the same company and save
  • Compare prices as often as possible

The final tip is remarkably critical, as we stressed in the prior information. Prices charged by car insurance companies can be adjusted at any time, so drivers shouldn’t be resistant to change insurance companies if you find a better deal. Many drivers have brand loyalty and that’s fine, but it’s not recommended if that dedication is costing major coinage every year. It only take a few minutes to compare rates and find cheaper insurance for a Chevy Silverado.

Geico, Allstate, Progressive, and State Farm: Who is cheapest?

When researching car insurance, four of the best places to start are Geico, Allstate, Progressive, and State Farm. The following table points out ratings for price and service, as well as some optional coverages that policyholders can buy.

Ratings for Geico, Allstate, Progressive, and State Farm
Geico Allstate Progressive State Farm
Claims Service 3rd 1st 4th 2nd
Discounts Available 2nd 1st 4th 3rd
Price Ranking 1st 4th 3rd 2nd
Client Satisfaction 1st 2nd 3rd 4th
Amount of market share 11.4% 10% 8.8% 18.3%
Rating from A.M. Best A++ A+ A+ A++
Standard & Poor’s financial rating AA+ AA- AA AA
Coverage for ridesharing Yes Yes Yes Yes
Mechnical breakdown Yes No Yes No
Roadside assistance Yes Yes Yes Yes
Usage-based rating No Yes Yes Yes
New car replacement coverage No Yes No No
Accident forgiveness Yes Yes Yes No
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