Buying cheap insurance for a Chevy Silverado in Virginia depends on many rating factors such as the age of the Silverado, the performance level of your vehicle, and blemishes on your driving record. Drivers pay around $1,025 a year for Silverado insurance, but that cost is a projection calculated using a 40-year-old single male driver with both comprehensive and collision coverage and $250 deductibles.
When estimating a car insurance rate like we just did, the issue is that you are not 40 years old and maybe not even male, possibly married instead of single, and you may just want the cheapest liability coverage you can find. Having what appears to be a very minor change in rating factors or requested coverage amount could end up in a significant change in the amount insurance costs for a Chevy Silverado.
This shows why the way we recommend to find cheap auto insurance rates for your Chevrolet is to do a thorough rate comparison.
The specific trim level tends to impact the insurance rate, so the price to insure a Silverado LS Regular Cab 2WD model will be $228 less than the insurance cost for the fancier Silverado Crew Cab Hybrid 4WD trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$170||$316||$352||$20||$106||$964||$80|
|Silverado LS Regular Cab 4WD||$170||$316||$312||$18||$94||$910||$76|
|Silverado LT Regular Cab 2WD||$194||$386||$352||$20||$106||$1,058||$88|
|Silverado LT Regular Cab||$194||$386||$352||$20||$106||$1,058||$88|
|Silverado LS Extended Cab 4WD||$194||$386||$312||$18||$94||$1,004||$84|
|Silverado LT Extended Cab 4WD||$194||$386||$312||$18||$94||$1,004||$84|
|Silverado LT Extended Cab 2WD||$194||$386||$352||$20||$106||$1,058||$88|
|Silverado LS Extended Cab 2WD||$194||$386||$352||$20||$106||$1,058||$88|
|Silverado LT Crew Cab 4WD||$220||$454||$312||$18||$94||$1,098||$92|
|Silverado LS Crew Cab 2WD||$220||$454||$352||$20||$106||$1,152||$96|
|Silverado LS Crew Cab 4WD||$220||$454||$312||$18||$94||$1,098||$92|
|Silverado LT Crew Cab 2WD||$220||$454||$352||$20||$106||$1,152||$96|
|Silverado LTZ Extended Cab 2WD||$220||$454||$352||$20||$106||$1,152||$96|
|Silverado LTZ Extended Cab 4WD||$220||$454||$312||$18||$94||$1,098||$92|
|Silverado LTZ Crew Cab 2WD||$220||$454||$352||$20||$106||$1,152||$96|
|Silverado LTZ Crew Cab 4WD||$220||$454||$312||$18||$94||$1,098||$92|
|Silverado Crew Cab Hybrid 2WD||$220||$522||$312||$18||$94||$1,166||$97|
|Silverado Crew Cab Hybrid 4WD||$246||$522||$312||$18||$94||$1,192||$99|
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Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Rates do not factor in specific garaging location which can alter premiums considerably.
Selecting the right auto insurance provider is difficult considering how many companies sell insurance in Virginia. The company information shown below can help you choose which auto insurers to look at comparing price quotes from.
The rankings below only include companies with a nationwide focus, so smaller companies that only insure vehicles in Virginia are not factored into the list. If you would like to check rates from these and other competitive companies, just click here.
|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
Types of discounts on Virginia auto insurance
Insurance companies that offer cheap quotes for a Chevy Silverado could also offer discounts that may potentially lower prices by as much as 35% if you meet the requirements. A list of companies and their possible discounts are shown below.
- Esurance offers discounts for anti-lock brakes, claim free, anti-theft, multi-policy, Switch & Save, and multi-car.
- The Hartford offers discounts including driver training, vehicle fuel type, anti-theft, air bag, defensive driver, and bundle.
- AAA may include discounts for multi-car, pay-in-full, good student, AAA membership discount, education and occupation, multi-policy, and good driver.
- GEICO includes discounts for air bags, emergency military deployment, federal employee, daytime running lights, military active duty, and membership and employees.
- State Farm offers premium reductions for passive restraint, good student, Steer Clear safe driver discount, Drive Safe & Save, and driver's education.
The illustration below shows the comparison of insurance prices with and without discounts applied to the premium. The prices are based on a female driver, no claims or driving citations, Virginia state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with multiple vehicle, marriage, homeowner, accident-free, anti-theft, and defensive driving course discounts applied. When these discounts are applied, the average savings per year on auto insurance for a Chevy Silverado is 28% or $409.
How accidents and tickets impact rates
A great way to earn good auto insurance prices in Virginia for a Silverado pickup is to be a safe driver and avoid accidents and traffic citations. The information below demonstrates how speeding tickets and accident claims influence insurance costs for different insured age categories. The data is based on a single male driver, comp and collision included, $250 deductibles, and no other discounts are factored in.
In the example above, the average cost of car insurance in Virginia per year with a clean driving record and no accidents is $1,892. Get one speeding ticket and the average cost jumps to $2,130, an increase of $237 each year. Then add in two accidents along with the one speeding ticket and the annual cost of auto insurance for a Chevy Silverado in Virginia goes up to an average of $4,072. That's an increase of $2,179, or $182 per month, just for being a less-than-perfect driver!
Last year's bargain might be this year's rip off
Virginia auto insurance rates are impacted by many things that will increase or decrease the price you pay. Turning one year older, buying a different vehicle, or getting a driving violation can produce rate changes that can now make some companies more affordable than others. In addition to those changes, car insurance companies change premium rates as often as every three months to adjust for unexpected claims or profits. Larger than normal claims can cause rate hikes, while a better claims history can cause cheaper Silverado insurance rates.
For instance, the bar chart below demonstrates which company has the cheapest car insurance in Virginia for a 40-year-old male driver with a clean driving record, no accidents, and a decent credit rating. If we estimate rates based on his current rating profile, Travelers may have the cheapest car insurance rates in Virginia at $679 per year. This is $479 less than the average premium paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Auto-Owners are the rest of the most affordable Virginia auto insurance companies.
The chart below compares rates after we give the driver from the first set of rates a chargeable claim, a lower credit rating, and an imperfect driving record. Since every car insurance company uses a different method to set premium rates, comparing prices may now result in a different set of affordable companies as shown below.
The Hartford now has the cheapest rate in Virginia with Erie, Virginia Farm Bureau, Donegal Mutual, and Nationwide also having competitive pricing. This shows why it is important to perform an extensive rate comparison when trying to get the most affordable insurance quotes for a Chevy Silverado.
Insurance rates are influenced by many factors and can change without notice, so the best company the last time you shopped around may now not even be in the top five.
How to find cheaper car insurance for a Chevy Silverado in Virginia
It is possible to find better rates, and here are some of the recommended money-saving suggestions that can help Virginia drivers find lower-cost car insurance.
- Avoid getting tickets or violations
- Avoid accidents
- Save money by staying claim-free
- Save money by insuring your home and auto with the same company
- Vehicles with good safety ratings are usually cheaper to insure
- Do not pay for full coverage on older vehicles
- Compare rates often to find the best deal
The final tip is extraordinarily significant, as we discussed in the article above. Insurance rates adjust frequently, so drivers shouldn't be resistant to buy a policy from a new company if you find a better deal.
Having a favorite company is great, but it isn't a good idea if that inflexibility results in costing you lots of money. In less than five minutes you could compare rates and find cheaper insurance for a Chevy Silverado.