2002 Chevrolet Silverado 2500 Insurance Cost – 8 Discounts for Cheapest Prices

Are you sick and tired of robbing Peter to pay Paul each month for car insurance? You are no different than many other drivers.

Insurance companies such as GEICO, Farmers Insurance and State Farm promote their brand names with catchy ads and it is difficult to not get sucked in by the cute commercials and find the best price available.

If you currently have a car insurance policy, you stand a good chance to be able to save some money using this strategy. Finding affordable coverage is quite easy. But car owners can benefit from knowing the way insurance companies price online insurance because it can help you find the best coverage.

You probably qualify for some discounts

Properly insuring your vehicles can get expensive, but you can get discounts to reduce the price significantly. Some discounts apply automatically at the time you complete a quote, but lesser-known reductions have to be manually applied prior to getting the savings.

  • Student in College – Kids in college who live away from home and do not have a car can be insured at a reduced rate.
  • Good Student – A discount for being a good student can be rewarded with saving of up to 25%. This discount can apply well after school through age 25.
  • Organization Discounts – Being a member of a civic or occupational organization may earn a discount when buying insurance for Silverado coverage.
  • Anti-lock Brakes – Anti-lock brake equipped vehicles can avoid accidents and qualify for as much as a 10% discount.
  • Life Insurance Discount – Some companies give a break if you buy auto and life insurance together.
  • Air Bag Discount – Cars that have air bags and/or automatic seat belt systems may earn rate discounts of 20% or more.
  • Accident Waiver – A handful of insurance companies will forgive one accident before your rates go up if your claims history is clear for a certain period of time.
  • Early Switch Discount – A few companies offer discounts for switching to them prior to your current policy expiring. It’s a savings of about 10%.

Drivers should understand that many deductions do not apply to your bottom line cost. Some only reduce the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like all the discounts add up to a free policy, insurance companies aren’t that generous. But any discount will bring down the cost of coverage.

Companies that may have these money-saving discounts include:

Double check with each company how you can save money. Savings might not apply in every state.

There’s no such thing as the perfect policy

When buying coverage, there really is no “perfect” insurance plan. Everyone’s situation is unique so your insurance needs to address that. For instance, these questions can aid in determining if you would benefit from professional advice.

  • What can I do if my company won’t pay a claim?
  • Am I covered if I drive in a foreign country?
  • Are all vehicle passengers covered by medical payments coverage?
  • Does coverage extend to Mexico or Canada?
  • Do I have coverage when pulling a U-Haul trailer?
  • Is my babysitter covered when using my vehicle?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier

Specifics of your insurance policy

Understanding the coverages of a insurance policy can help you determine appropriate coverage and proper limits and deductibles. Insurance terms can be ambiguous and even agents have difficulty translating policy wording. Listed below are the normal coverages available from insurance companies.

Uninsured or underinsured coverage – This protects you and your vehicle when the “other guys” either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your Chevy Silverado 2500.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision coverages – This covers damage to your Silverado 2500 resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for things like backing into a parked car, crashing into a building, scraping a guard rail, hitting a mailbox and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Coverage for liability – This protects you from damages or injuries you inflict on other’s property or people. This coverage protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 50/100/50 which stand for a $50,000 limit per person for injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage protects against things such as loss of income, emergency aid, attorney fees, court costs and funeral expenses. How much liability should you purchase? That is a personal decision, but you should buy higher limits if possible.

Medical expense coverage – Coverage for medical payments and/or PIP kick in for expenses such as prosthetic devices, X-ray expenses and doctor visits. The coverages can be used in conjunction with a health insurance program or if there is no health insurance coverage. It covers both the driver and occupants and will also cover getting struck while a pedestrian. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Comprehensive protection – Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as hitting a bird, rock chips in glass and vandalism. The maximum amount a insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Don’t throw your cash in the trash

Discount 2002 Chevy Silverado 2500 insurance can be found from both online companies and with local insurance agents, so you should compare both to have the best rate selection. There are still a few companies who do not offer online price quotes and these regional insurance providers work with independent agents.

You just read some good ideas how to compare insurance prices online. The key concept to understand is the more providers you compare, the higher the chance of saving money. You may even discover the lowest priced insurance coverage comes from some of the smallest insurance companies. These smaller insurers can often insure niche markets at a lower cost than their larger competitors like GEICO and State Farm.

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