Finding competitive insurance for a Chevy Silverado in Texas is dependent upon many rating criteria such as whether you are male or female, your credit status, and any prior driving offenses you have. Drivers in Texas pay on average $1,548 per year to insure their Silverado, but that figure is a projection calculated based on a 40-year-old single female driver with full physical damage coverage and $250 deductibles.
If we were betting, you aren’t exactly 40 years old or even a female, you might be married instead of single, or maybe you prefer higher deductibles. This example demonstrates why the best method for finding the cheapest insurance price for your Chevrolet is to do your own rate comparisons.
Insure Your Chevrolet for Less
Your vehicle’s trim level will most likely have an effect on price, so the price you will pay to insure a Silverado LS Regular Cab 2WD will be $322 less than the cost to insure the fancier Silverado Crew Cab Hybrid 4WD model, as shown by the rates below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Silverado LS Regular Cab 2WD | $246 | $460 | $560 | $34 | $168 | $1,468 | $122 |
| Silverado LS Regular Cab 4WD | $246 | $460 | $496 | $30 | $148 | $1,380 | $115 |
| Silverado LT Regular Cab 2WD | $282 | $560 | $560 | $34 | $168 | $1,604 | $134 |
| Silverado LT Regular Cab | $282 | $560 | $560 | $34 | $168 | $1,604 | $134 |
| Silverado LS Extended Cab 4WD | $282 | $560 | $496 | $30 | $148 | $1,516 | $126 |
| Silverado LT Extended Cab 4WD | $282 | $560 | $496 | $30 | $148 | $1,516 | $126 |
| Silverado LT Extended Cab 2WD | $282 | $560 | $560 | $34 | $168 | $1,604 | $134 |
| Silverado LS Extended Cab 2WD | $282 | $560 | $560 | $34 | $168 | $1,604 | $134 |
| Silverado LT Crew Cab 4WD | $318 | $660 | $496 | $30 | $148 | $1,652 | $138 |
| Silverado LS Crew Cab 2WD | $318 | $660 | $560 | $34 | $168 | $1,740 | $145 |
| Silverado LS Crew Cab 4WD | $318 | $660 | $496 | $30 | $148 | $1,652 | $138 |
| Silverado LT Crew Cab 2WD | $318 | $660 | $560 | $34 | $168 | $1,740 | $145 |
| Silverado LTZ Extended Cab 2WD | $318 | $660 | $560 | $34 | $168 | $1,740 | $145 |
| Silverado LTZ Extended Cab 4WD | $318 | $660 | $496 | $30 | $148 | $1,652 | $138 |
| Silverado LTZ Crew Cab 2WD | $318 | $660 | $560 | $34 | $168 | $1,740 | $145 |
| Silverado LTZ Crew Cab 4WD | $318 | $660 | $496 | $30 | $148 | $1,652 | $138 |
| Silverado Crew Cab Hybrid 2WD | $318 | $760 | $496 | $30 | $148 | $1,752 | $146 |
| Silverado Crew Cab Hybrid 4WD | $356 | $760 | $496 | $30 | $148 | $1,790 | $149 |
| Get Your Own Custom Quote Go | |||||||
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Price estimates do not factor in specific location information which can alter premiums substantially.
Determining which companies quote the cheapest insurance rates for a Chevy Silverado involves more time in order to find the best price.
Each insurance company used slightly different criteria for determining rates, so let’s take a look at the most competitive insurance companies in Texas.
Find the Best Cheap Insurance for Your Silverado Truck
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,041 |
| 2 | USAA | $1,095 |
| 3 | Texas Farm Bureau | $1,247 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,379 |
| 6 | California Casualty | $1,382 |
| 7 | Mercury | $1,461 |
| 8 | State Farm | $1,465 |
| 9 | Nationwide | $1,538 |
| 10 | Safe Auto | $1,613 |
| 11 | Allstate | $1,650 |
| 12 | Progressive | $1,664 |
| 13 | Amica | $1,723 |
| 14 | Home State | $2,134 |
| 15 | GEICO | $2,135 |
| 16 | MetLife | $2,227 |
| 17 | Unitrin | $2,241 |
| 18 | Encompass | $2,255 |
| 19 | 21st Century | $2,421 |
| 20 | Titan | $2,568 |
| Find Cheaper Rates Go | ||
Travelers quotes some of the lowest car insurance rates in Dallas at around $1,041 each year. This is $863 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the cheaper Dallas, TX insurance companies.
As the example above demonstrates, if you currently have coverage with Germania Mutual and switched to USAA, you could realize a yearly price reduction of approximately $187. Drivers with Esurance may save as much as $284 a year, and California Casualty customers might see rate reductions of $287 a year.
To find out how much you can save, click here or quote rates from the companies below.
Remember that these premium estimates are averages for all types of drivers and the different vehicles they drive and and are not calculated with an exact zip code location for a Chevy Silverado. So the car insurance company that fits your situation best may not even be in the top 23 companies shown above. That helps illustrate why you need to get auto insurance quotes using your own specific driver and vehicle information.
The illustration below demonstrates how choosing different deductibles can increase or decrease annual premium costs when quoting cheap insurance for a Chevy Silverado. The premiums assume a single female driver, full coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could reduce rates by $482 a year by increasing from a $100 deductible to a $500 deductible, or save $726 by switching to a $1,000 deductible. Even younger drivers, such as the 20-year-old example, could drop their prices up to $1,074 every year just by using higher deductibles.
When using a larger deductible, it is necessary to have plenty of savings on hand to satisfy the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Liability rates compared to full coverage
Reducing the cost of insurance is important to the majority of drivers, and one good way to find cheap insurance for a Chevy Silverado is to only pay for liability coverage. The diagram below illustrates the difference between car insurance rates with and without full coverage. The costs are based on a clean driving record, no at-fault accidents, $1,000 deductibles, marital status is single, and no additional discounts are factored in.
If we average the cost for all age groups, comprehensive and collision coverage on your policy costs $2,028 per year over and above liability coverage. That raises the question if it’s a good idea to buy full coverage. There is no exact formula of when to stop paying for full coverage, but there is a general convention. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let’s say your vehicle’s claim settlement value is $6,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $5,500 after paying the physical damage deductible. If you are paying in excess of $550 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
The Dallas car insurance agencies listed below are willing to provide answers to your questions and help you determine which insurance coverage you need, as many consumers aren’t sure which coverage to buy and prefer to get some professional input when buying car insurance for a Chevy Silverado. It’s not always easy to find the cheapest car insurance policy, so getting advice from a licensed Texas insurance agent can bring peace of mind knowing your policy gives you sufficient protection if you have a claim. To locate a Dallas car insurance agency in your neighborhood, click the button at the bottom or click here to compare prices now.
- State Farm: Brent Cooper
5232 Forest Ln #111 – Dallas, TX 75244 – (214) 987-1995 - E F Insurance Agency
9304 Forest Ln #217 – Dallas, TX 75243 – (972) 931-9285 - Dan Stanton – State Farm Insurance Agent
3767 Forest Ln #107 – Dallas, TX 75244 – (972) 243-8894
More insurance agents in Dallas, TX
How to find cheaper insurance for a Chevy Silverado
It is possible to find better rates, and here are some of the recommended penny-pinching solutions that can help Dallas drivers get low-cost coverage.
- Buy your auto and home insurance from the same company and save
- Try to remain claim-free
- Accident-free drivers may qualify for discounts
- Serious violations like DUI or reckless driving can increase rates dramatically
- Drive safe vehicles
- Shop around for lower rates once a year
The last tip is extremely vital, as was discussed in this piece. Coverage rates in Dallas change frequently, so drivers shouldn’t be reluctant to switch carriers if a cheaper rate is available. Many drivers have brand loyalty and that’s fine, but it’s not a great idea if your bullheadedness ends up costing you money that could be used for better things. It only take a few minutes to compare rates and find cheaper auto insurance for a Chevy Silverado.