Chevy Silverado insurance image courtesy of QuoteInspector.com
Would you prefer to buy more competitive Chevy Silverado insurance in Denver? I really doubt anyone anticipates paying for car insurance, especially when their premiums are too high.
Unbelievable but true according to a study nearly 70% of customers kept their coverage with the same car insurance company for at least the last four years, and nearly the majority have never compared rates from other carriers. Colorado drivers could save approximately $605 every year, but most tend to underestimate the rate savings if they moved their coverage to a different company. You have so many insurance companies to pick from, and even though it's nice to have a selection, it makes it harder to compare rates and cut insurance costs.
The auto insurance companies shown below are ready to provide comparison quotes in Denver, CO. If multiple providers are shown, it's highly recommended you visit as many as you can to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$204||$368||$448||$26||$134||$1,180||$98|
|Silverado LS Regular Cab 4WD||$228||$424||$456||$28||$136||$1,272||$106|
|Silverado LT Regular Cab 2WD||$200||$340||$408||$24||$122||$1,094||$91|
|Silverado LT Regular Cab||$212||$388||$382||$22||$114||$1,118||$93|
|Silverado LS Extended Cab 4WD||$130||$244||$338||$20||$100||$832||$69|
|Silverado LT Extended Cab 4WD||$252||$368||$460||$28||$138||$1,246||$104|
|Silverado LT Extended Cab 2WD||$144||$282||$448||$26||$134||$1,034||$86|
|Silverado LS Extended Cab 2WD||$234||$472||$448||$26||$134||$1,314||$110|
|Silverado LT Crew Cab 4WD||$162||$332||$396||$24||$118||$1,032||$86|
|Silverado LS Crew Cab 2WD||$182||$384||$516||$30||$154||$1,266||$106|
|Silverado LS Crew Cab 4WD||$194||$370||$338||$20||$100||$1,022||$85|
|Silverado LT Crew Cab 2WD||$238||$458||$382||$22||$114||$1,214||$101|
|Silverado LTZ Extended Cab 2WD||$310||$592||$408||$24||$122||$1,456||$121|
|Silverado LTZ Extended Cab 4WD||$210||$416||$474||$28||$142||$1,270||$106|
|Silverado LTZ Crew Cab 2WD||$264||$528||$448||$26||$134||$1,400||$117|
|Silverado LTZ Crew Cab 4WD||$214||$426||$396||$24||$118||$1,178||$98|
|Silverado Crew Cab Hybrid 2WD||$162||$402||$396||$24||$118||$1,102||$92|
|Silverado Crew Cab Hybrid 4WD||$308||$616||$474||$28||$142||$1,568||$131|
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Table data represents single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Rates do not factor in specific zip code location which can modify premiums significantly.
Full coverage rates vs. liability-only
The example below illustrates the comparison of Chevrolet Silverado premium costs with full physical damage coverage and with liability coverage only. The rates are based on no tickets, no at-fault accidents, $100 deductibles, married male driver, and no discounts are factored in.
When to switch to liability coverage only
There is no definitive guideline of when to drop comp and collision coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let's assume your Chevrolet Silverado claim settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $8,000 after paying the physical damage deductible. If premiums are more than $800 a year for comprehensive and collision coverage, then it might be time to buy liability only.
There are some scenarios where only buying liability is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if you can't afford to buy a different vehicle if your current one is totaled, you should keep full coverage.
Chevrolet Silverado annual premiums for males versus females
The example below illustrates the comparison of Chevrolet Silverado insurance costs for male and female drivers. The premiums assume no accidents, no driving violations, comp and collision included, $250 deductibles, single marital status, and no discounts are applied to the premium.
The diagram below shows how choosing a deductible and can impact Chevrolet Silverado annual premium costs for different age groups of insureds. The costs are based on a single female driver, comp and collision included, and no discounts are applied to the premium.
Cheaper rates with these six discounts
Companies don't always publicize all their discounts in an easy-to-find place, so the below list has both the well known and also the more inconspicuous discounts that you may qualify for.
- Early Payment Discounts - By making one initial payment rather than spreading payments over time you could save up to 5%.
- Safety Restraint Discount - Drivers who always wear seat belts and also require passengers to wear their seat belts can save up to 15% off the personal injury premium cost.
- Anti-theft System - Cars with anti-theft systems can help prevent theft and will save you 10% or more on Silverado insurance in Denver.
- Driver Safety - Taking a course that instructs on driving safety may get you a small discount and easily pay for the cost of the class.
- Early Signing - Some companies provide a discount for renewing your policy prior to your current Silverado insurance policy expiring. It could save around 10% when you buy Denver auto insurance online.
- Passive Restraints and Air Bags - Vehicles equipped with air bags or motorized seat belts can receive discounts as much as 30%.
Policy discounts save money, but many deductions do not apply to the entire policy premium. Most cut the cost of specific coverages such as comprehensive or collision. So even though it sounds like all the discounts add up to a free policy, it doesn't quite work that way.
To locate insurers with discount rates in Denver, click here.
Car insurance in Colorado serves several purposes
Despite the potentially high cost of Chevy Silverado insurance, maintaining insurance is required in Colorado but it also protects you in many ways.
- Most states have mandatory liability insurance requirements which means state laws require a minimum amount of liability coverage in order to get the vehicle licensed. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your vehicle has a lien holder, almost every bank will make it a condition of the loan that you have physical damage coverage to guarantee payment of the loan. If you do not keep the policy in force, the bank or lender will purchase a policy for your Chevy for a lot more money and force you to pay the higher premium.
- Insurance protects both your assets and your Chevy Silverado. It will also pay for many types of medical costs for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney if you are sued as the result of an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of insuring your Silverado more than cancel out the cost, particularly when you have a large claim. Today the average American driver overpays more than $865 each year so you should quote and compare rates at least once a year to ensure rates are inline.
Do I just need basic coverages?
Always keep in mind that when comparing adequate coverage for your personal vehicles, there really isn't a cookie cutter policy. Your needs are not the same as everyone else's and a cookie cutter policy won't apply. These are some specific questions may help you determine whether you could use an agent's help.
- What is UM/UIM insurance?
- Does my policy pay for OEM or aftermarket parts?
- Am I getting all the discounts available?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Is my state a no-fault state?
- Is other people's property covered if stolen from my vehicle?
- Is my trailer covered?
- How can I find cheaper teen driver insurance?
- Do I pay less for low miles?
- Which companies will insure me after a DUI?
If you can't answer these questions, you may need to chat with a licensed agent. To find lower rates from a local agent, fill out this quick 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.
When to have guidance from an insurance agency
Many people still prefer to get advice from a local agent and doing that can be a smart decision Professional agents can help determine the best coverages and help submit paperwork. The biggest benefit of price shopping on the web is the fact that drivers can get the lowest rates and also buy local.
For easy comparison, once you complete this quick form, your insurance coverage information is transmitted to participating agents in Denver that can provide free Denver auto insurance quotes for your auto insurance coverage. You never need to find an agent since rate quotes are delivered to you. If you wish to get a comparison quote for a specific company, you would need to visit that company's website and complete a quote there.
Choosing an insurer needs to be determined by more than just a low price. These are valid questions to ask:
- What will you get paid if your car is a total loss? How is that amount determined?
- How experienced are they in personal risk management?
- Is the coverage adequate for your vehicle?
- Which companies do they recommend if they are an independent agency?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Can glass claims be handled at your home?
- Are they giving you every discount you deserve?
Not all auto insurance agents are the same
If you are wanting to purchase auto insurance from a good Denver insurance agent, it's helpful to know the different types of agents and how they operate. Agents in Denver can be categorized as either exclusive or independent (non-exclusive). Both can sell affordable auto insurance policies, but it's good to learn the subtle differences because it can influence buying decisions.
Exclusive Insurance Agencies
Agents of this type work for only one company like American Family, State Farm, and AAA. Exclusive agents are unable to compare rates from other companies so if the price isn't competitive there isn't much they can do. They are trained well on their company's products which helps them sell on service rather than price.
Below is a short list of exclusive agents in Denver that can give you comparison quotes.
Independent Insurance Agents
Independent agents often have many company appointments so they can insure your vehicles with an assortment of companies and help determine which has the cheapest rates. To move your coverage to a new company, they can switch companies in-house which is easy for the insured. When comparing auto insurance rates, we recommend you get rate quotes from a few independent agents to maximize your price options.
Listed below is a list of independent insurance agencies in Denver that are able to give comparison quotes.
57 W Alameda Ave - Denver, CO 80223 - (303) 722-2841 - View Map
If you receive positive responses to these questions and an affordable coverage quote, you may have just found a car insurance agent that is reputable and can adequately provide auto insurance. But keep in mind you have the power to cancel your coverage for any reason so don't think that you are permanently stuck with a specific company for the full term.
Auto insurance coverages
Understanding the coverages of your insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. Listed below are the normal coverages offered by insurance companies.
Insurance for medical payments
Coverage for medical payments and/or PIP reimburse you for immediate expenses for things like dental work, nursing services, X-ray expenses, surgery and funeral costs. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants as well as being hit by a car walking across the street. PIP is not available in all states and gives slightly broader coverage than med pay
This coverage will cover damage or injury you incur to other people or property by causing an accident. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/15 that means you have a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a limit of $15,000 paid for damaged property.
Liability insurance covers claims such as repair bills for other people's vehicles, legal defense fees, attorney fees, medical services and loss of income. How much liability coverage do you need? That is a decision to put some thought into, but consider buying higher limits if possible. Colorado requires drivers to carry at least 25/50/15 but it's recommended drivers buy better liability coverage.
Comprehensive coverage (or Other than Collision)
This pays for damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as vandalism, fire damage, a tree branch falling on your vehicle, theft and damage from flooding. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if it's not worth much more than your deductible it's not worth carrying full coverage.
Uninsured Motorist or Underinsured Motorist insurance
This coverage provides protection when the "other guys" either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants as well as damage to your Chevy Silverado.
Due to the fact that many Colorado drivers carry very low liability coverage limits (which is 25/50/15), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims like scraping a guard rail, crashing into a building and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. It's also possible to raise the deductible on your Silverado to bring the cost down.